Check out D-Tube and lets mark up some charts
Watch Check out D-Tube and lets mark up some charts video on DTube
My first DTUBE video.. Im very excited about this newer and better YouTube. I feel very fortunate to be uploading in the first few days that DTUBE is online!!!
Here is the link to set up your Dtube: https://steemit.com/@heimindanger
Luc
@quickfingersluc some account building trades & positions:
plz make videos on daytrading, i doubt there will be a day when people will stop making mistakes with your trading style
Upvoted!! thank you for sharing your charts and trades.. awesome job.. those are great account building trades and I like how you did not get greedy, but too those profits at reasonable levels
At 4:40 you say that if NEO continues to do a "nice little pop and then comes down.." you won't be participating and it makes sense because that's not much of a panic.
So that reminds me of a trade I took on BitBay.
Luc would you have taken this trade (buying in the blue circle)?
https://www.coinigy.com/s/i/599b3316b5d53/
Luc, I'm a little bit confused with our base method now. Do we have to wait for a panic and huge dive in order to buy coins if they crack their bases? Or as @freshprince4 pointed out, is the blue circle a safe zone to buy the coin? There is no panic in this circle.
I am confused as well...
If there is a strong base (where it tests the base 4 times), like what freshprince4 posted, and it finally breaks the base. Would @quickfingersluc trade in the usual "safe zone"/blue circle?
Also, I've been noticing that your trades aren't following your usual rule, where you only trade during breaks in bases. Do you use other technical analysis to conduct those trades? If so, what sort of analysis?
Please make a video on Dtube so we can take notes and learn :)
Thank you for everything, really. You've changed my life!
Sincerely,
Frank T.
tl;dr
everything under bases is tradeable, u just get lower returns the faster u buy if u sell at base
luc prefers to trade panics that give high returns on coins that allow him to get in size
u can trade any crack or break but risks vary
You make it look easy!
how do you make the link to your chart on coinigy?
Hi Luc,
I've been thinking about your trading style and as I was getting impatient many times while practicing it because bases would just not break and I could only get in 1 or 2 trades a week or so after putting in so many hours and then I came up with a trading idea.
What if every time there's a solid base (support level), I buy and if the price goes up I set a certain profit margin, I don't get to greedy (5-10%), to guarantee a profit. If the base gets broken I use your trading style like you thought us and start buying in the safe zone. Once the price goes back to it's normal level I can break even on the amount I bought at the base (support level) and I can still profit on the money I bought in the safe zone the same way I would using only your style. But this way I don't have to miss out on low risk trades since I can most likely break-even and I don't have to wait so long for trades to happen.
The downside I see of this of course is if the base breaks but there's only a mild drop into a downtrend and the price doesn't bounce back. However, the chances of a solid support level being broken and it not being a panic seems very small to me. Thoughts?
My method of trading is by no means the only method that would be successful. There are hundreds of ways for you to take successful trades. However you have to be able to calculate your odds. Thats the key, any type method you want to develop, you need to be able to have a clear set up that you can backtest and know what your odds are.. Also, you need to know the story of the trade, in my method, (1) we wait for a base to form and qualify that base by the amount of buying or buying reaction that occured the last time that price was hit.. then we know there are buyers that like that pricepoint.. so thats our base.. we have the first piece of information in our story.. (2) Then by looking at a 1-2 month view of the chart, we can see if there has been alot of interest in this chart, if there are buyers that come in on every dip, this gives us context and odds.. (3) then when a panic happens below the base, we know why there was a panic, because all those buyers where surprised, and started to stop loss their positions.. now we know the whole story and really have the odds in our favor... Unfortunatly Patience is one of the most important skills you need to develop as a trader.
it can work but size is a problem
u will be losing profit from positions if u go in big at support
u will be losing profit from support trade if u go small at support
the base return is not 100% to exact level
there are many small cracks which dont collapse the base
Ok @quickfingersluc I did my first "day trade" last night. Everything I have done before this is buy and HODL...
I've been following a few of your recommended steady eddy charts..particularly BTC/USDT and ETH/BTC
Tell me what you think...
I placed a very clear solid base at .0786, then smaller bases at .0779 and .0750. After looking at the 2 month timeline I thought I could play off of the clear base at .0786, it did break that base and rebound making my newest base the .0750.
It never broke the .0750 base and had broken the major base and returned twice soo..... I took a gamble and bought 1.5 ETH at the Green arrow and sold at the Red.
Any advice? In the future when you place the sell limit on the graph is there a way to change it without canceling and replacing?
I'm a dentist and as we all know doctors are the worst with money so I can't thank you enough for your guidance! Hopefully one of these days my crypto investments will pay off my 330K in student loan debt!
Thanks!
David
tl;dr base is at 750 u bought the broken and returned base, and sold on another bounce which went to the same level and retested it
in position trading only first bounce is guaranteed
if u are daytrading use 5min or 15min candles and draw bases off there if you wish to use the method
Thanks nbiroz, so your saying Luc's method is really only valid on the most recent base in regards to a safe bet...when using previous bases and the retesting of those bases there is less predictability of the chart direction...correct?
the theory tells yo to care only about 1 or 2 last bases(unbroken i assume) in 2 months zoom out, and to trade panic sells. But it is your choice to trade any crack or drop you see sufficient. I am not sure how you would go about calculating your probababilities.
smaller bases are useful for daytrading where u can zoom in on 2 weeks or less chart and use 5 or 15 min candles for buying dips below these bases.
position trading relies on buying below major breaks and waiting for first bounce that almost retouches the previous base/level.
I think best to illustrate from a higher level of view shown on my pic. the yellow are better bases, and blue arrows are panic drops. Your bases you drew are ok to use, but I prefer bases with MULTIPLE TESTS. As you can see there were two tests on each of my yellow line. Your entry point (buy) seems wrong and should be on these panics where the blue arrows are, THEN sell close to the base.
The crux of this analysis tho is that these are still small percentage trades like 2-3%. I would take an even higher overview if you want the 10%+ trades.
I know this is isn't coming from Luc himself, but hope this helps
Yes thanks for the input..always helpful!
wow great info! thanks for posting this
It is a shame that dtube does not have subtitles, English is not my native language and with subtitles (although they are in English) I find it much easier.
Will you do a video on taxes someday? I find it hard to track all those small trades. Is there a software you use?
THANK YOU SO MUCH!!! Just got into cryptos this week and luckily found your videos first, watched all of them, and now all of my first 15 trades using your main method have all been significantly profitable! Whenever you get time please keep the posts coming, you're the man! I am definitely interested in learning more about your smaller position quick trade strategies. Thanks again!
Thats great to hear.. Awesome.. thanks for letting me know
Great stuff Luc, and Oh man, you make it look so simple ;-).
You asked for drawings, so here mine. Been trying to score some Luc's this afternoon, but do you agree that things are kinda slow currently.
Look at this: https://www.coinigy.com/s/i/599c3805392a7/.
Are my bases correct?
Unfortunately all the buying periods were during the night, so I missed them. And this afternoon, well, look at the purple line (at the end, bit small), is A a buying spot, or should I stay up late and go for B.
PS: I do notice that it can take days to find a good spot to buy... You agree?
PPS: I have to ask, what's with the profile photograph...
Again, thanks for giving this newbie a safe way to get into this exiting new world!
Well, because it is so slow I looked at some of your older video's and picked up that I should be looking at a 2 month period and a 1h interval. So this is my new base: https://www.coinigy.com/s/i/599c582046ce1/.
I assume that one is better...
I've been trying to trade NEO for a few weeks now. I haven't really been unsuccessful, but I don't think I'm getting too far. I have about $500 worth of it because I bought it when it was only like $12. Should I just take my money out of there and try trading with Ethereum the next time it cracks its base?