Discussion in 'CryptoCurrency' started by Adam718, Mar 3, 2018.
This is an amazing method, good job!
Good method, really. Im into crypto for 1,5 years now.
Your welcome, mate!
1. Right now market is very slow, so it's much fewer trades when before, so can't tell exactly which pairs are good now for trading. In the past BTC/NEO,ETH/NEO, BTC/ETH was superb. Even now these pairs are superb, but not these days/months market is slow so these pars are also not so active so its hard to find a good entry point. Don't look for trades, trades will come to you. Put alerts and relax, opportunities will come to you.
All pairs are good which respect base line, which daily volume is high.
2. I am trading BTC, ETH and FIAT pairs.
No problem , mate. If you have any questions just ask, I am ready to help.
First of all thanks for your comment and I am very glad that you like my info.
Secondly, investing and trading is two different things. You bought cryptos and hold waiting for the price to increase, it's investing. I am not investing, I am trading, this is why I am not losing money. I am not saying you lost money by investing in these cryptos, if you hold and be patient it will pay off (if you havent sold already for a loss).
I thought that I explained how to draw baseline in my posts clearly, just take a look at my post one more time and study it.
Basically, you just draw the line where price started to increase and increased a lot, like 10-50%, so if the price later drops below this line you buy 10% below baseline.
As you can see in the examples, the basiline is drawn below big price increasements. You can open a free trial of coinigy, open any chart and start drawing these lines, and later check where price dropped below base line and check if it recovered.
If you need more help, pm me and I will try to explain you in more details.
not sure, mate. Havent traded on equity markets with this method so cant answer this question, sorry.
Well, in the past (6 or more months ago) trading was easier because the market was bullish, this means that prices was rising so to catch trades was very easy and where was a lot of trades daily. Right now the market is bearish so it means that prices are dropping so its harder to find trades. Not saying its not working, but where are much fewer trades on daily weekly basis.
Talking about masternodes the same bearish market is happening so prices are dropping so its harder to make big profits in masternodes.
Just imagine if you buy some cryptos for $0.01 a piece and on weekly basis the price dropping 20 or more %.
But imagine if you buy currency for $0.01 a piece and price are rising because of bullish market, your profits are growing and growing.
So yes, these days its harder to make money with masternodes. Actually its not harder to make money, you still can earn money, but it's just harder to make a lot of money.
But in my situation, I have been in masternodes about 8-12 months and in these months I have built hundreds of different cryptos masternodes, so about 85% of these cryptos died and I lost money, but 15% of these masternodes are good and i am still running these and making money. So it took me a lot of time and a lot of money to know which currency masternodes are good ones.
I thought I would add to this strategy, which is in fact, Luc Quickfingers strategy.
This is probably one of the safest methods out there, HOWEVER, in order to get in on a "panic dip", at the right price, you need to setup a bot that will not only alert you of the dip, but also place a buy order as soon as it is detected. That is the KEY my friend. ;-)
Alerts won't do any good unless you're there to take action of the dip within a minute or two of it happening.
Do you know smartphone app that can alert you based on RSI?
I'm using bitcoin checker which is very cool but it only alerts on prices
Yes, TradingView, but if you're looking for free......nothing.
I'm exploring forex right now, but I feel it was destiny for me to come across this thread. I've been learning so much in my forex training that this thread just gave me one hell of an idea! Thank you for this.
Yeah, it's really one of the safest method.
But I not agree with the bot which would buy automatically.
For this method you MUST check the pair/chart after price broke the baseline and alert sounded. You putting alerts on 10% below baseline, but it doesnt mean you will enter on each trade, you MUST check the pair and whole situation before buying and entering into trade.
Maybe the price dropped NOT because of the panic, but naturally? This way you can't buy, because it's not a panic mode and the price could not recover fast or even not recover at all. Or maybe the price dropped because of some bad news.. this why you also can't buy.
The bot would buy on each situation where price dropped below baseline and its very big mistake.
From my experience, if 10 alerts alerting me that price dropped below baseline, I will only find that few (1-3) pairs and situations are worth to enter and trade, otherwise I would lose a lot of money if I trade each pair where price dropped below baseline.
Your welcome, mate. Very glad that this thread helped you!
@Adam718 - Yes, I understand what you're saying, but the method has it's caveats. Let me explain.....
I am setting up bots to buy VERY LOW dips that I set manually (this is the key word....manually), which are well past 10% broken bases. By the time the bot has purchased them, I have already viewed all the bases beforehand and know "exactly" where to purchase. The bot is not purchasing thse coins blindly. These are dips that would only be caught if you had a limit order waiting for them, however that ties up your money for a potentially long time.
Secondly, the bot will only purchase with a fraction of my capital, in case the price action moves lower (in which I would layer), but 9/10 times it doesn't because I am literally picking out areas 40-70% below bases broken. The bot does not continue to purchase after ever single base has been broken. Again, I inspect and set these areas manually, so when they are hit, the bot quickly enters the exchange and places the order.
The way you are going about this is fine, but it's not as efficient as it could be with using a bot. By the time you get the signal, evaluate the base broken, go into the exchange and purchase......MOST of that opportunity is already gone. You might get a fraction of that order..............unless it's a slow drudge down, which you shouldn't be placing an order with in the first place.
Plebs like me still cant read charts :/
Guys, what is each candle's time frame? Should I be looking at 1h charts?
I'm still at Ab trades, it's slow, but still learning.. Pt is just for $10k+ accounts, cause then those small percentages are nice $$.. It's possible to build acc with Pt trades, but too slow and new guys don't know how to draw bases correctly.. (I'm new guy, so yeah, from experience xD)..
As for the bots.. On Eth/Usdt and Btc/Usdt on Binance you could put $100k and you won't move the chart xD He's talking about position trading, so you will have time to enter (if you have access to net and you get the alert)..
The thing you're talking about is Ff, it's on alt coins and you have no more than 5 mins to react (that's why you need a bot)..
Damn man, if you'd use bot for Pt with big money, you either have big balls, best bot or big stack of money for spending xD
You can use bot for Ab trades, but for Pt, there's no need, they're not that fast.. And it's always better to check the chart manually before you enter..
Edit: I have a reply on your reply, maybe i misunderstood you on this one..
TabTrader is best I could find for Price alerts, enough for me,..
Had to trade on the go, from my phone.. Didn't lose money cause of its alerts, so yeah, nice one to try.. Simple to use..
Doesn't require account, nor Api from your exchange, you just download it and use it for alerts (that's how I use it when I'm not at home)..
3Commas or your own bot??
And warning for everyone who wants to start trading..
Guys, don't be stupid, you're not ceo of the bank, you're not soros/rothschild/bush etc.. You can't predict anything on the market, as Luc said, you don't assume nor predict, you just React.. Nothing more.. It's not science (6 years of university before you start), but make sure you go through the method you'll use and start small.. Emotions on off and respect and follow your plan.. Good luck and health to ya all, wish you all succeed!!
Ps. You three, pm me if you wanna discuss more, cause I tend to write more and it would spam the thread..
@MrAnta997 - First off, define PT trades as I don't know why you expect us to know what that abbreviation is. It's not within the trading index of terms.
Realize that bots can do anything you tell them to do. They can run on AB trades (these are called ranging trades) or picking up dips at a given price. Most bots will be able to pick up dips depending on the speed of the exchanges API, which is typically under a minute or two.
Fat fingers are panic dips (just different term) and can easily be picked up by bots as long as it's not immediately ordered up by exchange bots.
They won't ask random questions when they don't understand the terminology.. So, in order for someone to ask me a question about this, he will ask about meaning of Pt and Ab.. I used it intentionally.. You wanna learn, you won't be "shy" to ask stuff related to terminology.. Also, when someone focuses on that, he will google those "words" and find a lots of answers.. Good way to discover keywords about this method, but I won't spoon-feed anyone, it won't help him/her anything.. I mean, don't wanna be rude, this is just my understanding of helping someone the better and more productive way.. I'm not bragging with my "knowledge", I'm noob too..
As for the bots, i don't have enough money and I wanna learn to trade manually, to get a feeling about all that, to learn the matter..
Then ofc, bot is must have.. I'm trading channels atm, it's time consuming, but I kinda like it, to be honest.. I wanna get it up and running so I can invest in marketing and offline businesses.. So if anyone wants to try trading, if nothing, it's good for learning how to manage the risk and emotions..
You are the same as all of us. If we can read the charts, you should too.
Any questions, mate? We will help you out.
I am using 1h charts mostly, but sometimes I use 4h charts to check how strong of if there is panic at all. For example in 1h charts you can see that panic is happening and the price dropping like rock in water, but if you set 4h chart on the same graphic, you could NOT see the panic so it means that panic isnt so strong. If you see a panic on 4h chart, you 100% should start buying (if other steps are done). You understand what I mean?
There was a discussion about the BOTS using this strategy. Personally, I am not using any bots and I am doing everything manually, because I am full time trader and sitting near laptop screen all day long 7 days a week. This strategy works very well, but from my experience each person adding some own unique twist. Each person decide the risk, how deep the panic should be, what % below baseline he start buying and when selling. Strategy is the same, but each person decide if he aims 10% ROi or 5%. Same situation with the bots, if people see that bots can help them, they will use it. Same bots can help for some people, but can be useless for other people, some people chose entry point 7% below baseline, some people chose 15% entry point. Just see what works best for you and do it.
PT is not a trading term buddy, so if you want to ask a question, make it clear as both your English and your trading terms are off. I guarantee I can run circles around you when it comes to trading terminology and strategy.
You don't have the correct understanding of bots. They are not only used to automate trading. They can also be used to pick up trades at a certain price, when that level is reached, without holding up your funds on an order book. That tip in itself can make or break you. You're welcome.
Wow, 98% profitable trades of all time. Sounds impressive.
But may I know how much % in profit you are actually earning?
As for the terms, Eastern Europe here.. 2500km east of the britain, if you go through comments and blogs written by Americans, you'll see that grammar is not that important as long as we can understand each other.. Never had any N American complaining about my English, people kinda understand and respect that we (East Europe) didn't have opportunity to learn English cause of the cold war.. English lessons started in 2000s, before that, you are a spy if you speak english.. So yeah, don't really give a fuck if my "english and trading terms are off"..
I know why I didn't want to write" Position Trading" and "Account Building" , it's not selfish, it's good for new guys not to have all infos in one post.. When you run on something you don't understand, if you wanna know, you'll ask.. When you ask, I know that you're really tryin to understand what am I talking about..
Don't brag when it's about foreign language, it's disrespectful, cause if I gave my best to learn language which I never hear in real life (on the street, only way I hear/read English is by watching Yt and reading forums, books etc), than it's kinda bad to call me out for not spelling right or if my words are out of alignment.. If you have advice on that, I'm always open for learning new stuff, but don't say that you can run around me when it comes to english or trading terms..
As I said, I'm new to trading, everything I know is QfL.. But okay, let's not go further on with argument, you didn't have intention to insult me..
About bots.. Well, thanks, ofc.. As I said, I wanna go manually for now, but later on, bots are must have..
And about the understanding.. Well dude, I have correct understanding, but i don't have complete understanding.. I know that they're used for automating trades, didn't know that there are more uses, but I didn't say that there is only one use.. I mentioned one which I know, and I wanna learn more uses, ofc..
I'm not a fucking guru, dude, I know something, but it's less than the tip of the iceberg and I understand that, and I'm willing to learn more..
Thanks for the advices.. If you could recommend some bots, it would be nice..
Yes, I see that sir. I was looking at Binance's pairs and could not really find one obeying the baseline rule much. More like, it was happening rarely. I would look at one pair and, draw the baselines; there were drops but not like 10% ones but maybe 3-4. I found a few cases when dropped down by 10% went back up to 10% higher. I think I need to research more
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