Discussion in 'CryptoCurrency' started by Adam718, Mar 3, 2018.
Thanks for sharing, might try it out
It would be nice if you would also give credit to the one who made this method available, which is Quickfingers Luc.
It really is a good method for pretty safe trades, but you have to really understand it and, as always with trading, CONTROL YOUR EMOTIONS.
Also, Techinal Analysis is as simple as you make it. You can use 100 indicators or you can develop a strategy based on EMAs, RSI and Stochs and never use something else. Just master these and you're set.
But trust me, no matter how good a strategy seems like, it all depends on how good you are at MASTERING your emotions. It took me months to be profitable even after learning from the really good traders, because I couldn't stop myself from FOMO / revenge trading and panic selling.
Build trust in yourselves and read psychology books if you want to start trading profitable!
Thanks for this detailed tutorial. Nice work!
I have one simple question: is it still profitable? You've said that you avoid coins with a daily trading volume lower than 50BTC. According to the current status, only 4 coins have a daily volume higher than 50BTC: BTC, Tether, ETH and EOS. But none of these 'respects' the baseline. All of these had situations in the past 3 months where they drop under the baseline and keep falling and falling.
So, my question is: did you adjust your strategy, or is it still the same (like in march)? According to your tutorial your profit should become negative at the moment?
Which coin do you prefere?
Looks good. The best advice here is starting small so someone can build experience or their emotions will start trading for them.
It's also good that you picked 1 strategy. The issue many new traders have is trying to trade many different types of indicators which all say different stuff and not mastering any of them. Price is the best indicator you need and you picked out your favorite setup. Good work.
Best of luck with your trading!
No way, How you know what will be happen tomorrow? Exanple:
ETH market is red -15%, you think good time to buy? NO tomorrow -5% dumped, You lost 20%, congratulation.
, This thread is no more than gambling , there is no guarantee for make profit with his method, You can lose all of your Investment,
ETH market is red -15%, you think good time to buy? tomorrow -5% dumped , NO WAIT , Tomorrow -30% dumped, congratulation You lost 50%.
THIS THREAD MUST BE REMOVE.
Your welcome, mate !
Yes of course Quickfingers Luc was the first one from which I learned this method and continue to use for making profitable trades.
I fully agree with you, emotions are very important and actually it makes the trade profitable or not.
Emotions, greed, patient is your enemy and you need control them if you want to start trading profitable.
I have many trades which wasnt profitable in a day or few days, but patient helped me a lot, as I needed to wait almost a month before price returned to baseline so I made a profit.
I think it was BTC/NEO pair. Price dropped below baseline, I bought,but the price keep dropping and bought again for lower price. I think I bought 3 or 4 times and stopped. The panic was really big and it took about a month for the price to recover and get back to the basline again. So because I layered my buys, I made about 40% ROI, but it's only because I was patient and not sold for the loss.
Yes, it's still profitable, just less trades. In the past I liked to trade more trades with lower ROI, but right I am forced to make less trades ,but with bigger ROI and I really like it, less stress.
You need to adapt. If you see that whole market is down, you should trade with less volume, like 40BTC or 30BTC daily volume. These days 20BTC dail volume sound pretty good.
Strategy is the same, it wont change, as humans still buying the coins and selling in panic mode, where you jump in and make a profits buy buying for low price.
The market is different. Less trades, less movements, but strategy is the same.
What I can suggest in to use only very strong baseline, where price increased a lot, like 50% or more and be patient.
It's impossible to get negative if you dont sell for lower when bought, right?
Layering buys works like magic, but first you need to master it. You layer your buys if price keeps dropping, so your BE(break even) point keeps dropping too. The price can't just fall with straight line, where are always some bumps, so you need to play with these bumps. You can learn this only from practic.
Yes, start small and after you gain more and more experience you will feel more confidence to increase your budget.
Yes, it's not a guarantee that you will make money, there is always a risks, with this method I try to minimize as much risk as I can.
It's very easy to lose money in crypto world by blindly buying some coin or by randomly trying to trade without any experience or knowledge.
Crypto trading is absolutely NOT for everyone, as few post above we discussed that huge role in trading plays emotions, greed, patient and not everybody can control it.
First of all, you lose money ONLY if you sell. For example, I am 100% sure and believe that ETH price will increase a lot, but its just my opinion and I really dont panic and not worrying that the price dropped 20% from my bought point or even 50%.
It looks like you bought ETH for very good price and following day you checked and saw that price dropped 5% and next day it dropped another 30% and finally your emotions start playing and you sold making you lose the money. There are so many people like you and I think you understand where is your mistake?
Personally what I am doing is buying again if the price dropped another 30%.
One more thing. While trading, you can't use 100% of your bankroll for a single trade. For example, I am using from 10% to 25% of my bankroll for each trade. Sometimes more. So sometimes if you really impatient, you can lose money. Let's say you trading with $1000 and like your ETH example price dropped 50% and you sold for a loss.
So if you used 10% of your bankroll, you lost half of your 10% bankroll, which is $50. Not so bad if your bankroll is $1000 and you lost 50$
From your last sentence I am really thinking that firstly you need to work on your emotions and later try to trade, maybe its absolutely not for you and you should try another business model.
You know lot of people bought BTC at 19k$ and until now they are in big lose abt 1 year, This magic word "Dont sell". not gonna work always, you know?
Don't you think that buying BTC at all time high is stupid?
The price screamed 'Do NOT buy because soon correction will happen, It's really weird that I increased sooo much in sooo short time'
I bought em @ 21k my dude idk what the fuck was i thinking nothing ig
FOMO, mate, FOMO.
You started to chasing the price and you thought that it will increase to $30k or more.
Do not chase the price, never.
Just learn from your mistakes, it's just money, dont worry.
The health, the family is most important!
Ikr. Now my portfolio is literally pennies. I hope they do hit 30k something just so that I can pull out and not invest just by reading the market for minutes ever again.
I am sure market will recover. Blockchain is future! Don't sell buddy, hodl.
Nothing in this world has 100% accurate rate to be succeed. You CLEARLY have no respect to the OP, he spent his time and tried to share something!
Thanks for the great post @Adam718 .I see you tell before this"There is some pairs which I already know that are good for trading, these usually are the strongest pairs, such as btc/eth or btc/neo for example."
1. Can you tell the some pairs which is good for trading your method
2. You trade only BTC pairs?
Wow, this is really made easy. I always don't bother looking at charts because they confuse me alot. I didn't know all those things you said before now believe me. Which was why I had some of my coins stucked on exchanges till now. Anyways, just little amount of Bytecoin and digibyte that don't stop me from anything. I will try this approach henceforth.
I sincerely appreciate your insightful thread. Thanks a bunch man.
Good to see qfl system going mainstream. Rock on bro
hello i started trading in january deposit 200$ in etoro then they scammed me since all my positions were negative so they closed them all and told me my account was hacked and its not their fault well i checked my mac history and i was not hacked actully but anyways .. then i just created binance and bought xrp eth ltc neo and im waiting for the end of the year's big pump but now i see this post and tbh i love it but the problem that might be stupid is i don't get how to draw the base line exactly if someone can explain i will appreciate it thanks
Can this method be successfully used on equity market?
I have an off-topic question....do you find masternodes to still be profitable these days? Is it harder to do well with them than say 6 months ago?
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