Trade like a profesional, with no emotions + building small accounts
Lets discuss together a professional trader mindset..
Also I have received questions on where to sell and how to build small accounts. Im having a rough day, with a bad headache, but I still want to deliver some content for everyone, especially when BTC and ETH are making new lows..
As always, thank you for watching, upvoting, and commenting. I hope you are finding these videos helpful in your trading. A special thanks to all those who include charts in there posts, it really helps me answer you when I can see what your doing.
Luc
I posted this on your other post, but i'll put it here in case you are not checking the comments on the other one.
Hi Luc,
I have been working on a Market Scanner these past few days. I have something up and running. It only checks Bittrex at the moment, but I am going to add a few more exchanges in the next few days.
I think I've made it work the way you want. If not, I can tweak it to your requirements.
If you want to try it out just drop me a mail (dogphishtemp at gmail.com) and i'll send you the URL. If you think that it works good then i'll try and put this somewhere for everyone to access.
Here's a screenshot.
http://imgur.com/a/mgqpO
Michael
I have someone working with me on creating a scanner, and Im pretty confident it will do what I was hoping. However feel free to send me your results, and I will check the charts to see if your scanner results are working.. thanks
Nice chart scanner 👌
Hi Michael, I'm a developer myself. This chart scanner will be very helpful, I've been willing to build one myself, but if you're already building it I'll gladly help you adding more exchanges and features if you want.
I'm not Luc, but that looks pretty sweet.
Hey Michael - I know this is a little late reply, but I'm willing to beta test your scanner and give as much feedback as possible. Let me know if you're up for it! (Would have sent you a dm but doesn't look like you can on this website.)
Micael. Just a quick not to thank you for the scanner. I will be donating to you as I grow my account.
Really cool dogphish!
This method seems to work great on a down-trending chart but how would this work on an up-trend? The base would not be broken on an up-trending chart. How would that work?
thats why you have to collect some of these coins and keep them.. trade them now and make some profit but keep some stored away with your profits, so that you can enjoy the ride up, when things change.. there are many stratagies you can use to participate on the way up, because as things go up every trade works.. but yeah, i should discuss this in my next video
That would be great, I have some coins I like and a percentage is kept in cold storage but would also like to be doing some trades on the way up also. Looking forward to the next video, your stuff is great.
Hey Luc, hope you're feeling better. Are there any exchanges that allow you to invert the trading pair?
As in, trade ETHUSDT using your method on the way down and then if the market turns around, switch to trading USDTETH.
that is the same pair.. regardless of how they lable it.. it would work the same.. when you make a trade your simply exchanging one for the other
OK, thanks.. I was hoping that the charting would allow us to trade your method (long) whether the price of, say ETH in my example, is going up or down without having to short. I figure the exchanges only want to price using certain base currencies. Thanks again!
hi luc....I too am an options, stock and futures trader. I am opening an account on cex.io. The question I have is, after you buy the currency, do you place it in a wallet or keep it on the exchange. This is all that is left for me to figure out before I start to trade. A video on what we have to do once we purchase the currency would be awesome along with the exchanges you trust and trade on.
coming from the stockmarket you might find some of these exchanges frustrating, because there is no help line to call if you have an issue with any trade, or a glitch in the exchange platform.. anyway think of the exchanges as your brokers, (even tho you cannot call them) and you simply buy and sell or trade the coins on there list.. you only send coins back in you wallet if your goin got hold them for a while.. Ofcourse there is the danger that an exchange will get hacked or close or something and you lose your coins.. that could happen so I spread out my coins at different exchanges, to keep me in the game
I keep my money in exchange simply due to the fact I don't think coinigy offers you to trade with money in your wallet, if you want some good exchanges check out kraken, bittrex, and I use poloniex too(which has had some bad rep lately) I know I'm not Luc, but I hope this helps(:
That would be great, as trading just ETH/USD at minute, and sold on last rise and things look to be turning
hey Luc @quickfingersluc , would you be able to go over the 50% retracement moves that you worked through in some of your old videos please? that was really interesting stuff and made sense. thanks very much!
Back in that video I was explaining the laws of averages.. and how a large group of people will tend to find an average price.. so even it something is trying to run higher in price, i likes to pull back to 50% before it makes its next move.. but yeah, I guess I could address that in the next video.. it isnt really relevant to the bases/safe circle method i have been explaining here.. but no problem, ill write it down
Great question!
I like toast 🍞
It wouldn't be as nice a chart or strategy in that case. Bitcoin and Ethereum both looked like that for a while tonight.
I think the answer is you simply would have to find something else to trade. It's not worth the risk of buying at a base and hoping it keeps going up. You may kick yourself when it goes up 10% without a crack, but you WILL kick yourself when you lose 10 or more % and have to hope it goes back up.
I would think you could use the same methodology. When it rises, on the first mini crash down (half way or even lower to its previous base) buy. Sell at 10-20% or whatever your target is. Repeat. Once you have a few rises and crashes you have data to look at and note how long the rises and crashes are and use that info to set your buys/sells if its a bull market. Does that make sense @quickfingersluc?
thanks for this question, that's what I was thinking about.. Luc's strategy is excellent on a downtrend period, but what about the uptrend period...
thanks to you and Luc
Hey Luc,
I'm testing it out, but there's an android app called Boilr that allows you to set alarms based on % change and time interval. I'm using BlueStacks Android Emulator to run it on my computer. I'll let you know if it seems to work, but you have to set each alarm up separately--yet it seems like you only have to do it once per coin per exchange.
Alternatively you could also run it on your phone. I set a test alarm (1% change in 5 min) and it worked! It could be a poor man's market scanner in the interim, provided you take the time to manually add an alarm for each crypto (unsure if there's a max alarm limit).
Thanks for letting me know about BOILR, ill check it out.. there probably is a limit to the amount of alarms, but it might be good.. Regardless thanks for the heads up, im working hard to find one..
Took alook too, appears not update recently.Have found Coin Alarm & Widget by Nextcoin on android playstore has percentages +- we are after.
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STOPTake care of that migraine Luc.
On that Scanner i know we want to pull info from the exchanges themselves to have better response time. Can you give me like your top 5 exchanges you would want this to scan. I have someone willing to see what they can do. I would like just a few to test with and if they work then we could expand to more.
These are the ones I gave for now.
Those look fine.. I use your top 3 and I also like trading hitBTC
Would it be possible to maybe give us homework? Say, Luc's top 5 coins/charts to look into. You don't have to tell us where the bases are or anything like that, but just the names of them and then we can do our own work within in them and maybe post our results to see if we are identifying the bases correctly and if anyone does a buy/sell they can show off their trades.
That could be Fun = )
I like this idea!
Made my first trade yesterday with a 6% profit but man that was exciting :)
Its a nice idea, but that would encourage alot of replies, and I really dont have time for all that.. homework for you is more work for me.. and I need to be trading
Hey Luc...did you see the huge panic sell on BAT/BTC? I made some nice profit off of this.
https://www.coinigy.com/s/i/597004a84eb8d/
beautiful .. perfect trade :)
Nice trade! I was in there too :) lol keep em commin!
Niceeee 👏 It's time to make 💰💰💰
Hey Luc, following along since about a week and watching past videos, thanks for the great insight you give. And get well soon, amazing that you even took the time to make this video.
I tried your method and it worked (of course!), although I did make a mistake and maybe sold too soon there, but at least it was profit so that's good :).
The 'Oops' refers to the mistake I made, guess was too excited to get in the coin again haha. But the next two buys were great I think, almost at the bottom. In for 3 buy moments now, average at about 0.083 so waiting for it to bounce (now at 0.084). For now 5 to 10% would we fine by me. For ETH that's a nice percentage I guess. And after that sell just wait for the next buy opportunity.
Probably should have sold after the Oops and Yes. Then make that Yes the new base. That would have pushed me to sell the final Yes in this chart already at 0.082 - 0.084.
Two of your trades are ones I would have taken also, so thats a good start..
thanks! just sold the rest at 4.4% (.087) and 6.9% (.0891) New base set at .0832
GREAT trade on the 1st two buys you had on BTC/ETH!!!
Thanks 😀 ! Trying with very small funds. Also had a trade on AE/BTC, made almost 40% on that one. But it was just a $50 or so trade. For trying out Luc's method, so far if worked. Was on an exchange not supported by Coinigy so no nice chart.
It's impressive to see that you bought 3 times right at the low point. It looks like the first 2 were at support, but how did you decide to take the third trade at that point?
Thanks, beginners luck? I hope not :) ..
The third buy moment you mean? That was a mistake for sure, don't know why I did that. Depending on which coin I'm trying to sell at 5%, 7.5% and 10%. Also trying to buy like 5% below a base and then further down. That's a new goal at least. Which in case of ETH seem reasonable, although sometimes you see 30%+ on a day, but yeah you have to be there and read the story of the chart like Luc says. Not even close to what he is doing. Last week I also traded AE/BTC, just a small amount like maybe $40 but that got me almost 40% in a few days. But very low volume coin that AE thing, be careful with it. So for some coins it is possible to get 20%+ percentages on a trade. Just set the sell orders up and try not to touch them :) Have a little faith right ;) ?
Been following this low volume coin, and just a few minutes ago my alert got triggered (account in process so its not a buy order)then it dropped below 0.00001000 down to 0.00000911, by the time I pulled the chart up (some 30 seconds later) the price already jumped back up 25%. You can see on the chart I provided it just happened. Now my question is had I had a buy order down there at where I had my alert would I have gotten in down there? Or would that drop in price have happened too quickly. Kinda threw me for a loop, but if I'm looking at it right I could of had a quick 25% profit had I set a buy order down where I had an alert set, correct?
You would have gotten it.. the exchange doesnt skip orders.. we dont have a book like the stock market where participants can buy anywhere on the level 2.. so you would have been executed, because you would have been in the line up on the bid.. This happens to me all the time..25% in a minute
That's pretty damn exciting!
Your alert is set for 900, why so low? ADT dropped to 911, was the alert in your screen capture set after the drop?
I had two alerts, one at 1000 and one at 900, the 1000 one went off since it dove past that to 911. I set my alerts that low for this exact reason to see if theres a quick drop like there seems to be on previous recent areas of the chart. It just all happened so fast, I doubt I could of manually done anything about it, just curious if the buy order would of taken place since the dive down and bounce back up was so fast and furious.
Sorry Luc, when I posted this earlier I was busy at the office and had not gotten a chance to watch the video itself and you answered my question with that last example of where to sell. Hope you feel better, this video was gold!
I bought some of those in the early spike down. I did it just like you but instead of alerts I'd buy orders and worked just fine
Sweet! In process of getting my exchange accounts set up, can be quite the pain in the beginning lol, in the meantime I've been watching all these trades I could of taken and its KILLING me!!
Could you do this lucs method upside down. I mean I just tested it with bitfinex eth/usd chart randomly and when things move up after huge move down it tends to come back to the previous base. Its bit hard to figure first but seems to be accurate in various spots. So you should basicly start selling your ethereum in these spots or use margin trading shorting. What do you think?
All those upper supports, if it had broken them it would have came back. I used the min 10% bounce down in this example
Not sure how this shorting works, does it have leverage or can you short without leverage, at least you have to pay interest.
You would need margin to short... but yes a very good coin like ETH will work in both directions..