Daytrading keeps me sane, while I wait for those Big Trades
Hey everyone,
I want to talk to you about being patient and waiting for only the best opportunities before you buy with size. I daytrade to keep busy while I wait for the big trades. And in this video I actually record one of my penny trades live, while it's happening.
Thank you everyone for your upvotes and support of my blog. I hope that these videos are helping others make smart trading decisions. I know it can get overwhelming sometimes when everyday the market is changing, and accounts can seem like there on a roller coaster. If your feeling that way, your positions are likely too big, and you should size down. Trade smaller until you are confident, and then eventually everyday will be fun and easy.
Luc
Thanks for the video update man, you're the only guy I follow and its nice to see you talking about topics that I can relate too. I've been taking losses to impatience and large buys, which in turn makes me constantly make the wrong moves. I've decided to take a step back for a bit and go back to what I know works...nibbles while I wait on opportunity.
Yes, that is the best plan.. I nibble all the time when I get impatient and it saves me alot of headache.. Its not easy to be patient.. but when that big trade does come, oh man it will pay you for all the trouble ...
HI Luc,
I've been absolutely obsessed with the crypto world now for over two months now (most of my friends want to strangle me) and without a doubt you are the most helpful, articulate person I've come across. 90% of trading tip-type videos ive run into are somebody unabashedly shilling a product/service or talking in circles and not really giving you any useful information. Your trading style has helped me immensely already and ive only watched a half dozen videos or so. I really like how basically the only indicator you use is Volume and I believe that's the correct way for how I should become proficient, by reading naked charts and not over-complicating things too much...
I was trying to use KST, FSI, MACD, BB, etc etc and it wasn't quite overwhelming but for me at least, it cluttered everything up too much and actually made it more difficult to interpret the chart because I'm so new at this. I was already starting with small accounts and am up $200 or so in the last couple weeks but I cannot stress enough how much what you're saying in your videos resonates with me as it clearly does with your other followers as well. You are the DEFINITION of a professional and I aspire to one day be as sharp a trader as you are. I'm going to pump the brakes on my day trading for the next week or so and just GORGE on all the content on your blog. The way you are helping everyday people overcome their fears and achieve their financial freedom (with no incentive, I might add) is just too awesome to accurately convey with words. I live in Fairbanks, Alaska and I must say our neighbors to the east are ALRIGHT!! I don't know where you're at in Canada but if you ever come to Alaska, I'd be offended if you didn't let me buy you a beer haha. But seriously, keep doing what you're doing and I hope God blesses everything you touch. You are changing people's lives and that's no BS. Have a wonderful day,
Kyle Robinson
P.S. Your buddy's market scanner is friggin' awesome. Especially since my primary exchange is Bittrex. I'll donate some btc here in the next few days. Also, I hope Coinigy integrates Binance soon. I know they only came on the scene a bit ago but I've heard good things besides the fact withdrawals take longer than most other exchanges. I recently got verified and look forward to trading there. Anyway, thanks again for your insight and I'll be watching your blog like a hawk.
Very informative.
+1 !!
How do you get your screen that big? My chart box on coinigy is half the size of yours on your screen.
40" screen
That is way better than my iPad and laptop then. I love what you are doing , Thanks so much!
Let's say I had $10,000 to invest long into ETH and wanted to grow it a little more aggressively than the already aggressive yearly return on said crypto. Would it be best to stick to no more than 10% of my total of $10,000 or $1,000 worth of ETH per trade? Or, since I'm already long on ETH for $10,000 would it be better to put in 25% or $2,500 positions (or higher) for each beautiful base that the ETH chart so faithfully produces? I watched your video on bankroll management, but something isn't clicking for me. Any thoughts, Luc? Thanks again for all you've done for the community.
Again @quickfingersluck great video! To the point and excatly what people need. I am one of those guys who got impatient and dived a little too deep a little too soon, the alts just continued to go down, I should have waited and gotten much better positions.
I understand that now, but I will not panick and sell I will wait for them to bounce back. I have started my crypto journey with $450 and went down to $280 because of all horrible decisions/scam coins/bad trades that were influence by me being a noob and believing horrible youtubers and their coin pumps. Your youtube challenge was like a God sent gift.
I managed to get to $1300 by day trading and learning to take good positions in just two weeks. Now I dropped to ~$1000 because I bought too soon and have been impatient(I also could have made much more, but I didnt hold enough, but I believe I took profit where I should have). I might have been lucky, but I learnt a lot along the way and I still managed to 4x my capital after all the newbie shenanigans of trying to guess the next hype coin. Now I know I need to be much more patient and understand that winning just a few % instead of 20% is much more important than having a chance to lose. Safe trades all day!
Again can't thank you enough @quickfingersluc !
At the end I would like to share my bases with Luc and the community.
I have looked at the START chart. The first thick yellow base was cracked at around july8th and didn't bounce back for quite a while, and along the way smaller bases were built,cracked and recovered and in the end the price bounced back to the thick yellow base.
Now we have the same situation where the second yellow base is cracked all the price has not bounced back to it yet.
Is this a good position to take and wait for the price to go up to the base? From history it seems it might take a week or two? But the % is huge. What do you guys think?
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Thanks Luc. Your videos help keep ME sane through the wilderness of trading!
I fell in love with your voice the first day I heard you :-)
Luc, I am sure you covered this early on in one of your videos and for that I apologize. I am invested long term in BTC, ETH and LTC. I have taken profit from all three and researched the minor coins and added positions in the 9 best that I could come up with for 25% of the total holdings to create a crypto fund. My question to you is do I place sell orders for the core BTC,ETH and LTC holdings at ridiculously low prices (still taking a nice profit) to protect me in the case of something catastrophic like many of the detractors suggest happening? This would require keeping my portfolio for all three on Coinbase as well instead of cold storage I believe.
Thanks for the Master Class
Brad
Hey brad, I'm a trader.. So I don't think like an investor and cant really answer your investment questions. I simply trade and compound my coins over and over, regardless of how high BTC or ETH go.. I hold some free coins that I have created, but I use the bulk of my holdings to trade and create more and more coins.. Therefore I am investing for free, and trading is only a way to create more free investments.. Using these principles I have grown a modest $300 into a umm alot.
Like a boss, Luc! An inspiration.
Hey Luc,
Firstly, I would like to express my thanks for all the time you spend to try and assist us in understanding how the world of CryptoTrading behaves! The insights have really sped up the learning curve for me.
I've noticed that what is happening in the world re CryptoNews really affects spikes/ drops hugely. Just recently a news bulletin popped up (in Coinigy) about trading volumes on Korean exhanges surging and essentially being the reason that BCC is spiking.
My question to you would be, is there a good site that you use to catch these type of alerts sooner? Although that news from Cryptocoins is interesting, it would have been more interesting had i received it a day ago ahead of the surge. Maybe my example isn't the best, but I was still wondering if you follow any particular site that assists you in 'being ready' to catch a spike or drop?
Thanks again!
@dsel - luc's trading method doesn't rely on news, he pays attentions to charts and how the markets react. Of course if there is major news that everyone is aware of like the. Itcoin split that's a different situation... but for the most part, he preaches trading of charts rather than news. And I would agree.
Thanks Tizzle. I have been following him and agree with what you are saying. I was just curious to know if there was a particular news feed he followed re Crypto. Always good to be kept reliably informed!
Apparently I wasn't looking at the fastest news feed. Turns out rumor is that Bitcoin cash surged in price because they recently mined an 8 megabyte block vs they're regular 2 megabytes size and mining was soon to become more profitable mining Bitcoin cash than Bitcoin which happened a little while later today. What I'd like to know is if the price of Bitcoin falling during this time was inspired by the increase in Bitcoin cash price?
Is it just me or are BTC and ETH following the same pattern on their charts?
I learned a lot, thanks!
Really appreciate these videos! thanks for the education opportunity!