Bitcoin $7,500 I'm selling while everyone is buying.. Am I nuts??steemCreated with Sketch.

in trading •  last year

Sunday afternoon and the BTC/USDT chart is parabolic.

Everyone wants there free Segwit2x coins, so there is tons of buying and very little sellers. This type of action often leads new traders to making mistakes. There can be many different ideas that run through your head when you see something keep on climbing, day in and day out with no end in sight. You might decide to buy in on the action, or you might start to your previous sells.

I wanted to make a video to help describe why I trade. What is the benefit to trading vs just HODLing. Honestly I never try to predict the future, but I simply react to the chart I am looking at. I trade what is on the chart and that's it, I keep it simple.

As always, thanks for watching and I know that everyone has their own story to tell about how they would trade these events. I am happy to share how I trade with everyone, and my thoughts as a full-time trader. But you are all entitled to your opinion on this subject and my way is not the only way to trade or make money. Please feel free to share your thoughts here or in our slack community.

Luc

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Luc, I found your videos on line and you are the reason I now know about Steemit. I started 19 days ago trading with your method. I've never traded before in my life. In that time, I have gained 10% before yesterday. I have made mistakes in the last 19 days as a result of getting greedy and not following your methods, yet really good results as a result of when I followed your method. Yesterday I took a hit as bitcoin plunged. I didn't really suffer since I had a very tiny amount to practice with -- A recommendation from you. I looked you up and found you had a video warning what was coming. I wouldn't have suffered at all if I watched your video. I made sure to follow you and not miss anything you have in the future. Thank you.

Actually 7500$ is great take profit pricing, it'll drop sharply below 5000$. Good call mate.

Awesome. Please keep the vids coming!

Great Luc, in what currency would you put the money when the price of BTC falls?

Hey @quickfingersluc

It's been a while since a last came across your videos and steemit post. Great video man, I'm downloading and sharing with a friend who's been on my neck acquiring more bitcoin

"Bitcoin decides to fall" perfect sentence...you know I'm refraining myself to buy BTC since it was 4000$ and I'm not sure is going to fall so deep now 😂, I'm just getting profits buy selling BTC but I have the feeling that BTC never stops rising and it is like missing the good chance to earn more...the market is crazy!

Great to hear your perspective Luc, this is obviously on a lot of peoples minds, thanks for sharing!

Hey Luc. I started last week on this road to successful trading. I have binge watched the majority of your videos and studying the charts to make sure I set myself up for success when I begin. I do have one major question right now: When do I get in?

Because I'm seeing this BTC curve, I am ultra worried as soon as I buy any bit, it'll halve itself on the next fork and then my entire trading leverage just halved itself immediately. Conversely, if it does go above 10 post fork, then I just hurt myself not getting in now. Any tips from this community is so greatly appreciated. Thanks!

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I'm also debating on grabbing Ethereum as my first initial investment. Still learning though, I don't know if that's the correct thing to be doing

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Hi, another newbie over here. That's what I'm doing for the exact same reason. BTC for me is a "don't-touch". So trying to do all my trades based on ETH and only buying new ETH from fiat.

It's not so easy, because most of the trading opportunities are based on BTC, but you also find some good ones. For newbs like us, we are the biggest limit actually, not the currency we choose as a base. At least, that's my point of view. Interested in other's opinion about this.

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I would suggest to wait until bitcoin closes the gap down to $5000 before getting any bitcoin. It's hard to wait for the oppurtunity, but it will come and it will be a much better place to get in.

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I think it will go to 5k before passing 10k. Be ready. set up your bank account links to your exchange and increase your limits wile you wait. when it goes to 5k go all in. YOu can bet the house on it.

and where do you plan to rebuy?

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I will be watching BTC closely as I always do and I will get in when it has broken a base and is in a panic drop.. Thats my usual routine.. I was eyeballing those 6900s as a decent little base.. But ofcource I'd love to see something under 5,300 .. That would be my next pretty solid base.. I think a crack of 5,300 would lead to some serious panic and I would gobble up whatever is falling below that.. Only time will tell what will happen next.. and every time we get some big bounces we will have more bases to play off... so for now, im watching for some big read bars below 6900, if we get some...

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But what do i do about my fomo?

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Luc you are the man and would love your opinion.

It seems that we are due a correction and i would think it should fall as low as 5.9k - 5.3k as the gap has not really been filled. Would love to hear your latest opinion on what you think is going on..

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Did you stop making videos? Haven't seen anything new in a while. I value your regular input.

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Only for now.. I'm waiting for the market to get a little more bearish.. right now while everything is going up, no matter what you do you make money.. but in a few months if everything starts droping, then I will be needed again.. to help everyone make safe trades..

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Sorry to hear you've taken a break from the videos.

Regardless of the Crypto market environment, FWIW I am very much interested in hearing what you have to say.

You are absolutely right, Luc! Thanks again! Can't wait to trade bitcoin when it falls)

@quickfingersluc, would you recommend margin trading?

I completely agree. I never understood why people are willing to trade altcoin pairs to increase their BTC holdings but they aren't willing to trade BTC against itself when it is so overextended like this. If you had 1 BTC right now and sold it for 7500 and it drops back to 6k you could buy back 1.25 BTC for the same price. You are still growing your Bitcoin holdings and you are protecting yourself from potential huge pullbacks by going back into a much more stable currency like USDT or normal fiat.

Also can we join the Slack group you are speaking about in your videos? Is it open to the public or is it one of those paid private ones?

Hi @quickfingersluc -- Agreed, I also just took profits at 7475$. Your reasoning and trading approach really resonates with me... learning lots and thanks. BTW, I just submitted a request to join your Slack community, please keep an eye out for it and cheers ~

Hi Luc,
Thanks for all your info, excellent stuff!
I have been selling my BTC on the way up and expecting a correction around the fork where I want to layer in some buys.
Would you be able to do a short video on how you will layer in YOUR buys for a Bitcoin price correction?
Thanks mate

Great video! Just reaffirmed many of the feelings I've been having. Been trading for about 3 months now and overall am up slightly over 20% from where I started.

I've been a tad bit too conservative I guess, partly due to since I've started trading BTC has been forking left and right, but I definitely feel more confident now to buy with bigger size, just gotta do it next time the opportunity presents itself.

Looking back at my trades many were "good" but could of been much better for any number of reasons. Many situations were me just not buying as much as I should of knowing I was in a safe circle and then subsequently selling it too soon and not maximizing profit. But at the end of the day I am growing my account quite nicely and considering much of this has been learning I am pretty happy and excited to see where this takes me!

Thanks Luc your guidance is priceless, I more then likely would not be trading if I hadn't stumbled across your blog!!

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Good Job.

Seriously.

Sell that shite! It might go up a little more, but A. it's way up and B. it's going to dive.

I wrote this article which is targeted to people who feel it is too late to get in and participate in the exploding crypto/blockchain sector. https://steemit.com/cryptocurrency/@motowngold/bitoin-crosses-7000-dollars-what-can-you-do-about-it-some-investing-ideas-including-crypto-related-stocks

been watching your vids since last week. And trying to understand more about trading. When I saw the price moving up, I had an inkling that those following Luc gonna sell and make a profit! I will join you guys one day. Let me gather my intel and bullets.

Hi Luc,

I wanna thank you for everything what you do for us. During the last month I learned about trading that much, what I wasn't able to learn for the last few years. When I read about the trading, every great traders in history have talked about mind settings and trading psychology. They said it is the most important thing and TA and strategies are only small part of it. I understood why it is so important but only now, after your videos, it give me sence for myself. Every video and every comments from you and community moves me foward to my dream faster and faster. Every single day I find something new in the charts and trading strategy, but mostly in my mind. Your strategy is awesome and it is great tool for everybody, but the most important thing is that you can grow our minds as traders. There is no way to thank you enought. Thank you.

Hi Luc
All I know about crypto I learned from you. This post was maybe the most important from you until now. Following your opinion can keep a lot of value in our wallets. I had allready my wallet only in USDT and I'll keep trading, as you say ...

I'm also wondering the same thing than others, when you trade in Bittrex, do you hold your main account in USDT?
And if you would want to eventually withdraw € or $, how would you proceed that? I don't find a USD/USDT pair over there.

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you would have to move your USDT to another exchange that actually has fiat pairs

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Thanks Luc for your answer, and do you personally trust to trade in USDT as a loyal representation of USD?

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I would like to sell some BTC off for USDT on Bittrex but I am seeing that USDT isn't supported in Trezor...am I correct on that? Or is part of the strategy trading for stuff like ETH Dash LTC and then bringing them back offline? Just trying to do the quickest thing the best way soon. Thanks for all you do, Luc.

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@quickfingersluc when you trade altcoins, what is your "base", USDT? meaning, let's say you buy insanecoin and then sell - are you buying with BTC and then selling for more BTC? Or are you buying with USDT and then selling for more USDT?

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if the coin pairs with BTC then yeah im just trading that pair.. nothing to do with usdt... but if it pairs with usdt then im trading that pair.. i just trade whatever chart im working..

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isnt it difficult to figure out if you are really gaining if both prices are fluctuating though? Like say you buy ETH with BTC, and then you sell ETH for more BTC, it could be that it's not really a gain, it's just that the value of BTC went down

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I have coins in many different exchanges.. I have never withdrawn anything in Fiat yet.. but if you did you would have to find an exchange that has Fiat and transfer some coins over to it.. pretty simple

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hey can you contact me edmondisyan@gmail.com

You are not nuts, you are truly contrarian :)

yo luc, do you think its a nice idea to trade using bot and use your strategy to look for a real based and a massive crack (Surprised) and then buy and sell whens it bounced back?

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There are so many members of our community who have wanted to build a trading bot to try to automate my method of trading.. you are not alone.. I havent seen anything that works yet tho..

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Have you thought about what if your brilliant and simple method gets so spread across the crypto--space that most people at some point might use it? at the moment i can't see why not to use it, perhaps the opportunities would disappear also or how do you think of this ? by the way thank you very much for all sharing and support..

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I wouldn't worry too much. Even with a method as good as Luc's, most who try will fail. Trading is capital H hard due to simple human nature. We want to buy before the base is truly broken then wait too long to sell only to watch the price rise and tumble back down. If you can really grok the QFL method and maintain discipline, you'll make money. But if it was so easy..

Hi! I'm a total noob. I noticed that ever since you deleted your previous videos you no longer make videos frequently. Will I still be able to learn like the way a beginner should if I start watching your videos from where you restarted?

It's really hard to watch videos here because the internet bundle plans is too small for too high price. I'll probably download all your videos, i just want to know if I can still learn like a beginner.

Update
I started watching your videos. I'll reserve my comments till when I start trading. Thanks for helping guys like me anyways. Your're the best.

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Yes. I have seen the none working videos and they contain the same knowledge as the new videos.

Thank you for the videos!

Hey Luc, been viewing some of your content.. I'm interested in trading at a small level: small principal, small gains. Probably a little different from your approach, but curious - how long would you say you hold a crypto asset. Minutes? Days? How long is too long? Also, do you always cut losses or are there times you wait for bounce back?

Simple question I can't find the answer to online. So you're in a trade and you sell it, where does the USDT currency go? Does it go in your wallet or is waiting on the exchange for another trade. I am using Bitrex.
I also want to say thank you for your videos I have watched them all on youtube! Have you thought about doing a video about money management for your type of trading?

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usdt is an altcoin that is forced to match the same value as usd. you can send it just like you can bitcoin. Rumor is that it will someday fall apart and cause major drama in the prices of all coins. https://www.cryptocompare.com/coins/guides/what-is-usdt-and-how-to-use-it

Hey Luc! Would love your input on all the pump-and-dump schemes happening on cryptocurrencies. How do we as small trades watch out for this?

http://www.businessinsider.com/ico-cryptocurrency-pump-and-dump-telegram-2017-11

Hey Luc! I have been watching your videos quite religiously recently and I have a quick question for you. Where would you reccomend transfering your fiat into crypto that can fairly easily be distributed to the various accounts Ill be trading with?
Really appreciate all youve done to help people get started in trading it makes it all understandable and not overwhelming :)

dear quickfingersluc

1st i really want to thank you for all of your learning videos ,really i start to win and have a good profit from the day i watch your viedios many many thx, just need to now some details about your way in trading (Base line ) is it works with all crypto or with ETH only?could i use it with pairs against BTC not USD? to be sure about the target is it always below or at the base line not more than it?is this strategy is buying only and no sell ever?if there is a sell could you refer me to a video to explain it more detailed .

many thx really i appreciate you effort
god bless you

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Yes. Yes. at or below but you have to study the coins historical chart to make sure it respects its bases. I dont understand your last question.
I found The answers to your questions in his videos.

What trading platform are you using. I don;t see it mentioned? Thanks

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Coinigy linked to the exchange of your choice.

Great video Luc, hoping you'll at least get some crazy good karma out of doing this! I've learned a lot from watching 7 or 8 of them so far. Hope you have the time to keep them coming or at least stay engaged. I wasn't able to track down the Slack page link. Would love a copy if anyone has it.

Luc, can you please make some more videos getting into the specifics of layering in and out and %s

Hello Luc, what do you think of this trade so far? Did I set my base correctly? Should it bounce back eventually? Thank you!

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Also, I know that it made it back (almost) to the base I had drawn, but it was right underneath my preset sale and I didn't catch it manually :/

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you only bough the 90s? not any more near the 80s? your not layering into the trade.. and you bought what looks like a base.. you didnt buy the panic.. you actually bought the base..

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Thank you for the reply! I think I have much to learn yet... When you say it this way it makes me laugh lol.. I bought the base hahaha

Hey Luc, are you still uploading videos to dtube? I can't seem to find you there to subscribe... Also, when you're holding a coin, do you ever apply your strategy in reverse? i.e. can you deduce a ceiling, based on reading the chart, that once broken makes it wise to sell? Cheers... p.s. your videos are great mate - much appreciated.

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Like a fomo run? seems like it. im sure the short sellers can teach you about that.

Thanks Luc, i have been watching your videos since last couple of weeks and learning alot. i have few questions which keep bothering me i will appreciate if you reply.

  1. I use USDT to trade with other currencies but on coinigy.com there are only 12 currencies i can trade with UST. i want to explore trading with other currencies so i start looking at ETH but then i realize if i choose ETH as a base currency then there will be two variable currencies i will have to deal with. i choose USDT b/c its stable and value is not much variable ? pleas suggest what would you do if you me :D

  2. I attached bittrex accout with coinigy to trade but i had to keep coinbase account incase if i want to cash out or bring cash into trade. brining cash into coinbase is time consuming process. if i have to act fast no other option. also coinbase give you max 15k trade per week. they hold me up last week due to that and i had to wait almost entire week to do trade on coinbase which suck.

Hi Luc,

I just wanted to say thanks for your videos and for sharing your hard earned knowledge, I (we) really appreciate it. Hoping to get better at this and give back one day.

Hi Luc,
I live in Germany and was wondering if you know a good trading site which is based in Europe?

Luc, you are a living legend! Thank you for this golden information!
Just a few questions:

-Do you count the wick on the candle as a base or where it closed?

-Do you think the trading pattern will change when the institutional money comes into the market?

Best regards,

Hi luc, how do you handle filing taxes? Does Coinigy provide you with a history of all your transactions, or do you keep track of every buy/sell manually? Thanks!

Hi Luc. You’ve taught me a lot. But I have one MAJOR question. Your method only seems to work when you are looking at a Coin’s value compared to USD. But the majority of alts only trade between itself and BTC. Is there a way on Coinigy to change the value to USD even if it’s only on a BTC market?

Hey Luc! Thank you for being such an awesome resource for everybody! I have a question about the attached chart... I've identified clear bases at 22, 24, 26.5 and 27.5.

22 & 24 are the most recent bases in the ETC/Space-time continuum, but 26.5 & 27.5 are nearest to the current price point. (28.9)

Which bases should I be working with?

https://www.coinigy.com/s/i/5a233e85557e5/

im still waiting for a 5k test. now near 12k , at what point will i give up and give in? last time it ran 68% before falling and testing 3k. The time before was 100%. This time its ran 128% !!!!!!!

Is there any exchange where it did test the last high? On Plonex it did go down to $5,151 does that count as a test of its last high of $4,950? In the short term it seem the answer is yes.

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Hey man. Newbie here. I see that gap at 5000. What timeframe are you using to identify the gap?

Luc, what do you think will happen with the Bitcoin Futures trading? How do you think this will affect the market?

Hi Luc,

I bought some bitcoin gold the other day and it still hasn't returned to its base. I'm not sure what to do as the price seems to keep going lower and lower. I bought on the 6th when the price was around 252. It dived and broke two bases. I bought under the first base. Should I get out of my position? I am very new at this with only a few weeks' experience. I dm'd you on slack with a graph and other information btw. But here is an updated picture of the graph. https://www.coinigy.com/s/i/5a2da92b6e42a/

Hey Quickfingers, I noticed bitcoin shot up past 12,000 on the 6th of December at about 2am. Is this one of the points that needs to be 'fixed' by the price quickly dropping back to it at some point? I noticed it managed to fix the similar 13,000 rise over the weekend.

seems you were NUTS!!! hahahah

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not when it dipped back down to 5k at the time. He made off like a bandit