Discussion in 'CryptoCurrency' started by Adam718, Mar 3, 2018.
Market is dead right now, you will lose your money right now
It's not dead, it's just slow. In the past I was making 1-3 trades weekly.Sometimes even 4 or 5. Now I make 1-4 monthly, but the ROI is almost the same, because now I focus on less trades, but on bigger ROI, it makes less stress and I dont need to sit all the time near the charts. Market is not dead, its very slow. If you trade smart, carefully research the charts, don't risk on low volume coins, you won't lose money.
If charts going lower and lower, you just don't trade and don't enter. If the charts going lower and lower after good and strong base, it means that eventually such coin price will increase. In the past charts recovered in few hours, few days to base line, now I need to wait even few weeks or months to make profits. Market is just very slow at the moment.
of course. This strategy highly involves human psychology, this is why this method is so strong and never stops working.
Thanks pal. You should make a video also on youtube. and if you do please provide us the link of you channel too
What you discovered is the concept of support and resistance. This works well in summer, though a good trader cares about the overall consistency.
What you call base lines, are support lines. If a support line holds a few touches it gets stronger. If it is broken, it becomes resistance and versa vice.you did not talk about time frame of the charts you are using it. It is imp to check multiple time frames to discover certain support and resistance lines.
Good luck, bro!
i wonder if this method still functions in such a red market. I personally find it difficult to analyse the support line.
Well, one support after the other support got broken, we are down 80 to 90 % for a reason. Personally, I cannot think of 98% success rate. Godlike traders actually keep in the 70 to 75 rate
Yeah ,you are right. Also the whole trading strategy is based on human psychology and emotions, we only enter into trade if we see panic. If we only buy on panics, we using other people emotions to make profitable trades.
I am working on 1h time frame charts, but its always good to check 4h charts and see if the panic is real and if its worth to enterthe trade or not.
This guide is not complete, there are many other small things which I havent recovered because post would be too long.
This method works all the time, you just need to be more patient. Currently whole market is down and only patient people will make profitable trades. In the past I was making more trades, now less trades, but still profitable. Also I am concentrating to make less trades but withbigger ROI instead of making many trades but less ROI.
Each trader will have his own success rate and it will be different. As i said in my first post that I have made about 100 trades and only few wasnt profitable, right now the rate is very similar. Other trader could claim 80% success ,another again different rate of success. Each trader decides his risks, if he want to risk more money for bigger ROI or visa versa.
Which crypto network do you use?
OP you need to learn to use the multi-quote feature.
You mean, which crypto exchanger? If yes, I am using bittrex and binance.
Thanks got it.
Was just going to say that. Base line etc.. Supply / demand zones.. or support / resistance.. simply where orders may have been left open from previous drops or rises (stop losses, take profits etc).. or there is still profit or losses to take back.
These levels become more important when confluence with volume occurs. Good explanations by the OP all the same
Thanks for the great post @Adam718 , the explanation was clear and got the basics of it, i am trying to backtest the method right now and got some questions:
1. When you say 'big price increment' how much % wise would you say the increase should be before you draw a base line?
2. Do you not consider any btc pairs that dont go 3 months back in trading for you to backtest?
No problem, mate
1. Each pair has a different 'correct' price bump. You need to look for 3 months period of chart and notice average price increment. Chart history tells everything, you just need to read it correctly. 'Baselines' could be very strong, strong, weak or very weak. If the baseline is strong, it means that after price goes under the baseline, there is huge chance that price will go back to baseline again, so you make profits. If the baseline is weak, you risking more, because price could not reach baseline again or it can take a lot more time. How to know if the basline is strong or weak ? You always need to check 3 months history of charts and check if price recovered after dropping below base line. Also , baseline will be stronger if drawn below big price bump. The bigger price increment, the stronger basline is.
Just imagine. Price jumped 60% in a week, it means that there are many buyers, many people who invested, many investors, coins is alive. You draw the line below such price jump. And after/if price reach basline and drops 10% below base line you buy and you have very big chance of making profits because its almost guaranteed that the price will increase again as people will buy again such coin for such low price. But if price increase 10%, you draw the line below this small bump, price reach the baseline and drops 10% below it, you could buy, but its more risky as baseline is weak. You understand?
2. Not understanding the question clearly, sorry.
If i see even one time when baseline wasnt respected in 3 months chart history, i wont trade with such pair, because you risking that this can happen again.
I always analyze the chart before drawing baselines and adding alerts. There is some pairs which I already know that are good for trading, these usually are the strongest pairs, such as btc/eth or btc/neo for example. The trading daily volume is insane, the coins are very strong, but on such coins its harder to get many trades, but when I found, its guaranteed profits.
You need to use the multiquote feature mate.
Really doing great job
@Adam718 , if you're replying to several people you MUST use the multiquote. There's at least 3 different staff have merged your posts, that I can see.
Yes yes, sorry, my fault. It wont happen again!
Separate names with a comma.