Daytrading vrs Position Trading, which will make you more money?steemCreated with Sketch.

in trading •  last year

Hey everyone, I'm back :)

I took three days off and am just getting ready to start answering all the questions from while I was gone. I thought I would make a quick video to address where you, as a trader, should focus your attention. Do you want to trade in and out all day to make a living? or do you want to make a trade here and there on a slower time frame. Which of these will net more money?

Thanks for watching and commenting . This blog is already reaching so many people, and Im glad to be able to share with you all.

I hope everyone gets to experience some monster trades in the near future :)

Luc

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Very interesting! Thanks so much!

Following.

#payitforward

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Very interesting video. I'm definitely not at the point where I want to move into trading all sorts of coins, but if I was, I know who I would go to first!

Thanks for another fantastic video, Luc! You've been doing a great job answering comments here and covering your approach very thoroughly in your videos. I'm fairly new to trading, and your method resonates with me better than any other I've found.

As a fan who watches your videos and reads all of your blog posts, I would like to recommend you not worry to much about the questions that reveal people aren't re-watching the videos or reading your other replies. Spending a bunch of your time saying the same thing over and over and over doesn't benefit you, your core followers who are paying close attention or, ultimately, the people who aren't doing their homework.

I think many of these folks desperate for fast tips & quick answers, but not willing to put in their own effort first, are the same people who are panic-selling into the dips we are trying to buy. It's a sad truth that the market requires both sides to stay liquid; and even some of the nicest, best-intentioned people must fail for others to succeed. Learning things the hard way is sometimes the best way.

Two sayings come to mind: "Feed a man a fish, and you feed him for a day. Teach a man to fish and you feed him for a lifetime." and "You can lead a horse to water but you can't make it drink."

Your videos and comment replies to insightful questions & people sharing their charts are wonderful lakes filled with fresh waters and juicy fish. Those who are hungry & thirsty enough will find the nourishment they need. The rest can seek another path that suits them better --- best wishes to all.

My apologies for the rant; but I wanted to make clear that I think you're already giving 100% to your community - and we're here to support you, not drag you down. :-)

Thanks again, and happy trading!

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Thanks for the comment. I totally agree, I am already having trouble keeping up with basic questions over and over.. I try to answer them all, because I know that it can be confusing for some just starting out.. But you are right, that it will wear me out eventually, and its better that I put my free time into creating more videos that help more people.
As my follower counts go up, this blog will get to be more than I can handle, so I may have to cut off answers at some point.
Its a pandora's box situation, because what I explain in my videos actually works. And as people start seeing the markets as I do, they will make successful trades and share that with others. And so the comunity grows, but there are way more traders than I can help individually. So I know at some point I will have to let my videos speak for themselves..
Eventually I will probably just do a daily recap of the trades of the day. And everyone can tune in, to see why and where I entered and exited the market..

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It might save time and effort in the long run to have a "Frequently asked questions" post with short written answers/screencap examples and links to videos with a timestamp where info is discussed. You can edit and add to it over time. Then you can have quick answers like "Please see question 7 in F.A.Q. post" or something.

Anyway, it's just a suggestion.

Thanks for the info you've generously shared Luc!

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Hi Luc. Firstly thanks for all the effort you put into making these videos. They're incredibly helpful. Please can you include some tips on how to trade on a flat week (sideways trend)? i.e the chart is not cracking the base

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I have never seen a week where there was not a base cracking on something.. there is always something taking a dive.. you just have to have the alerts set on all the coins and you will be soo busy you will have a hard time keeping up

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hey luc, thanks for helping all of us starters out.... is A or B a base?
I think A is the base but etherum hasn't hit back yet so im wondering where do you think it will hit back up to?

and if B is the base, can you explain why?

https://www.coinigy.com/s/i/59780cde2af5e/

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Only B.. (a) was too small a bounce to signify strong support at that price, so not a base..

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@quickfingersluc: I suggest including examples like this when you compile your F.A.Q. This seems to be the most common error made. I use the measure tool in coinigy to assure the bounce is strong enough to signify support, once I started doing this rather than eyeballing charts it became much easier to determine where a base truly exists.

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how do you use the measure tool? what is it exactly and what is your criteria?
Thanks! and Thanks to you too luc!

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Thanks! what determines a " strong support " ??
Also, how soon d you usually wait to sell on a position trade? Are there any rules like always sell when you close for the day? ETH hasnt hit back up so itll take some time. but how long is " too long" ??

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Please, don't change up now- love the work dude, should be called magic-luc for the business of trade lol

Having some insight and somebody, a guiding light has been fantastic- sort of keeps my head screwed on with taking hits like the crypto market gives a day, keeping me positive, the hits keep you realistic to not go all in or more than you can lose like you say not putting more when you get a return on building a small account..

Just can't wait to get that scanner too, I love position trade and any trades, can't wait to do daytrading though man! Penny stocks scare me it took me so long just to get into crypto even, feel like a new trader like myself can get chewed alive out there lol wall street

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Just keep your positions small to start.. small trades till you feel confident.. If at anytime you are worried about a trade, that means you are in too big... all your trades should just be hum drum, easy, and never keep you up at night..

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I totally agree with what you say, @sethmerrick.
It seems many people are too lazy to watch all his videos and read all his answers to many comments here.
I'm already applying his teachings and having results and anyone who takes the effort to watch his videos will be able to do the same. It is really boring to see people asking things that he explained more than once. There are so many guys on Youtube making money out of people like that. They create groups promising tips and expertise for people who are just looking for an easy money scheme.
Just one tip for those who are setting alerts and didn't pay Coinigy yet. There's an app called Blockfolio where you can set alarms for free. Although the app is for Android and iPhone, I installed it on my iPad and works just fine.

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Hey, I was trying to find this app for month or so! Once saw but then forgot its name...
Thanks a lot for helping with that!

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I suggest using TabTrader for setting alarms if your not using Coinigy (with that said, Coinigy is the nuts!). TabTrader has fairly decent charting tools, alerts, and it also includes APIs for the major exchanges just like Coinigy (this API feature only on Android, it will be on iOS in the future). I'm an iOS/Mac user but I bought an Android tablet just so I could use the Coinigy app while I am not near my computer in the event an alert goes off - its that good. The Coinigy app is buggy, but its still better than all the other options out there!

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I am using chrome remote desktop to access to my desktop pc from anywhere and use coinigy is great!, is like team viewer, log me in, etc., but use an gmail account to access. I find it a lot more handy than android apps. (the best android app i try is TabTrader, have great charts)

for windows:
https://chrome.google.com/webstore/detail/chrome-remote-desktop/gbchcmhmhahfdphkhkmpfmihenigjmpp?hl=es-419

android client:
https://play.google.com/store/apps/details?id=com.google.chromeremotedesktop&hl=es

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Chrome Remote Desktop is a security risk, I would advise against that.

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Yes i know, My BTC account is really small (0.05 BTC) I guess i find a more secure way if my account grows.

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Good use of thumb: The data on your computer is typically worth more than the computer itself. Always practice safe security! If you practice safety now, you won't have to worry about it when your portfolio grows in the future.

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Well stated Seth 👏👏👏

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This Link can be used for either daytrading or position

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Yes. I agree with this.

Just watched this whole video, great. Gave me a great reminder about position trading....WATCH FOR THOSE HAPPY BOTTOMS! When everyone else is freaking out when the board goes red, it's a great reminder that the reds are needed to make the greens feel all tasty and profitable. Great video.

Hi, you talked about having a 10k stack for trading as an example. Would you really advice to use the whole stack for one position trade? And keep going with that? Or rather split that 10k stack into 5 different trades?

Really looking foward to your daytrading video :) Have a nice day

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No I would not advise you trade all your capital on one trade.. I was just making the point that these are big percentage trades where you can get in with size.. so there is a huge opportunity to grow your accounts. So perhaps those wishing to explore daytrading, should first look at these easier, more profitable trades.. then like me, if you have the itch to always be trading, you can also daytrade, as soon as we have the tools build.

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Luc, would be awesome if you did a brief segment as part of your regular daily videos where you set aside and started with a small amount of funds ($500?) and made real trades showing us the moves you'd make if you were starting from scratch working your way back up. Something like a $500 challenge. Hope you agree.

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I'd love to see something like that!

good to gave such streemian here

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I appreciate your support.. my follower counts are growing everyday, but your vote really helps this blog get noticed.. Thank you

Thanks for the video Luc. Over the weekend I also started working on a market scanner based on the following algorithm:

  1. get all trading pairs for Poloniex and Bittrex.
  2. get current price of each exchange. e.g BTC-LTC.
  3. get the lowest price of each exchange in past 4 days.
  4. calculate percentage change from past lowest price to current price.
  5. if there is a percent drop from past lowest price then display the coin in table.
  6. Refresh the data every 30 seconds.

Here is a screenshot of the most recent results:

Screen Shot 2017-07-24 at 3.15.24 PM.png

Please send me an email if you have some time to take a look and I can share the link with you to beta test it. if it looks good, I can share the link with everyone.

Email: piyushmahajan7749@gmail.com

Thanks!

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I don't know if someone from this group built this market scanner tool or not, but it works exactly like you mentioned in your video. check it out:

www.cryptomarketscanner.com

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This is excellent!!! The community will benefit immensely from this. 👏👏👏👌👌👌

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Oh snap! If I make a profit from this I'm gonna donate $100 to the developer straight up, haha.

Edit: It looks like the tool on that website doesn't work (at the moment anyway). Can you share the link to your scanner so I can help beta test it? :) I'll tip if it makes me a profit so don't forget to leave your BTC address :)

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That is a market scanner one of the guys in contact with me is creating.. He is not ready for it to be public, but soon he will make it availible.. Hes working out the kinks

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Dammit I got to try it very slightly yesterday why did he take it down no! hahaha

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Thats a good start, there seems to be few programmers in out community working on scanners.. I will provide links to there scanners as soon as they give me the ok.

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Very interested in this when it comes out. Will also donate

Your "Keep it simple stupid" approach is so refreshing. With all the videos of supposed experts on Youtube, you are a like a BS bulldozer, clearing the way for straight forward information for grownups. I am so happy I came across your blog and sincerely thank you for sharing your experience.

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Im glad you are having an easy time with my strategy.. I feel a little greedy that I have not got busy spreading this sooner.. I have been trading this way, alone, for so many years..

This question isn't just for quickfingersluc, Anyone familiar with Coinigy can answer. The video showed us setting alerts for cracking a base, but can you set alerts for cracking the base on the way back up so you can get an alert that you are now in the profit zone?

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yea its easy you just move the alert bar to wherever on the chart you want to set it, buy and sell orders act the same way.

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Thank you. Really looking forward to getting into this and learning by doing. While I get things set up, though, I am trying to get as much knowledge of the systems as possible. Not even looking to make a career out of this. It just looks fun.

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you can set any alert, for any price.. up or down

If trading crypto, day trading can be very profitable, the volatility is there. If trading equities, position (swing) trading is the way to go nowadays.

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it all depends on your tools.. I day trade all day on the stockmarket.. I have for many years and I almost never have a red day... so im bringing all that experience over to cryptos, and working with programmers to build market scanners for us to use... Im thinking everyone here will have a big advantage soon in this market, once we have those tools.. then we can daytrade and "swing trade" .. And I will make video's to help traders avoid the deadly daytrading mistakes..

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Luc, you are amazing!!!! Just the fact that you take time out of your day to help strangers build a new future a new career man!!! Thank you

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I have to chime in to agree here. I've been working through the videos from old to new and I really want to be caught up, but I don't want to be one of the people asking redundant questions that waste time. That said I feel like I can tell by watching so many of the videos that Luc is genuinely just a good person who's interested in helping others. Thank you very much for your time and efforts Luc!!

Thanks to you Luc, I have confidence to do this part time now alongside playing poker (which I've done for over 10 years), and maybe full time down the road. Here are some charts
https://www.coinigy.com/s/i/59763028be5ba/
https://www.coinigy.com/s/i/59763123063aa/
https://www.coinigy.com/s/i/597631c65da57/ (ignore the trades between 13-15)
https://www.coinigy.com/s/i/597632180a637/

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To add, I've never done any trading or knew anything about trading before watching your videos. Your videos on "What moves price" and "Is there a holy grail" was the answer to a strategy I employ now, so your videos resonate with me. I've actually watched them at least five times each.

  1. Look for an argument
  2. Read the story of the chart
  3. Set up alerts, or buy/sell orders
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I know quite a few poker players who have become devout followers of Luc's guidance, I have been calling Luc the "Ed Miller of Crypto". I even convinced one of the players at last week's WSOP Main Event FT to start following Luc's content. The days of buy and hoard are over for poker players, the future is in position trading to accumulate wealth.

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The "Ed Miller of Crypto"? I tend to agree :)
I got lucky finding him by stumbling upon his article "How i turned $300 into $50,000 in one year trading Crypto currency", after googling cryptocurrency trading.

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Poker players tend to make great traders. I think there's a lot of overrlap with the psychology of being a successful trader/poker player.

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Yes, for sure!
Both seem to overlap with success by .....

  1. Understanding fundamentals or foundations, and coming up with a working strategy
  2. Suppressing and controlling emotion/tilt
  3. Having proper bankroll/account management
  4. Putting together proper software, tools, and process (online)
  5. Don't try to mimic anyone else (this goes for anything you do)
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very nice, small account building charts.. great trades, soon you will be trading the big panics .. But there is nothing wrong with taking all those small big percent trades, well done.

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Appreciate it. I'm a little eager, so waiting for big panics during slow days is no fun (but when they come, they become EXTREMELY fun)
Even tho these are small volume coins, you'll be surprised of how much you can put in for a trade and your orders can still be filled. You won't be able to fill 10k USD worth of BTC orders, but you can def get a decent amount of money in. Get a feel for the order history and get lucky with these flash sells :)

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exactly.. there is tons of trades out there everyday.. your job is just to find them and only take those trades that have a great chart.

upvote/resteemed/followed
Me being a trader, specifically the Forex-market, I would say it all depends on your style and acc size your working with ;)

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Hey, thanks for resteeming my post. Much appreciation. Being a Forex trader, you must be loving crypto land, with its easy to read charts. The focus of my blog has been helping everyone take high high probability trades, which also (because its cryptos) have huge percentage gains.. No one realizes how spoiled we are here in cryptos, I have never traded an easier market. Thanks again for helping me reach a bigger audience.

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Yes, Crypto is fun and easy in my opinion as well. We are indeed spoiled ha!
I personally just hold f0r long-term, snatching profits when the money lks right while continuing to hold on to them and simply buying more when they hit lower levels ;)
Forex/Crypto is like I say - 'POWERFUL'! Either I make some nice profits in the Forex to then put some back into crypto 0r Crypto makes me money and I use that for my f0rex-trading and elsewhere.
Love it! And it was good to meet you. I'll be looking out for more of your post. I try to keep a list of Steemit-Traders written down on paper so that I never forget ;)

Thankyou for your inspiring and focussed video.Awesome stuff mate!

Hi Luc.

Just created this account to follow you and say thank you..

I am still watching your videos and they gave me a huge confidence and a great knowledge. I didn't yet start to trade but I have few coins that I bought recently.

I have some questions to ask from you but still didn't because I believe after watching all your videos I'll get the answers without bothering you more..

Anyway I am forgetting the thing I came here..

THANK YOU VERY MUCH Man :-D You are a Gem :-)

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No worries.. im only slow answering questions because of all the questions.. but im glad my videos are giving you confidence. I used to think, can it really be this easy.. and yep, trading can be simple, if you see things the right way.. if you read charts the right way

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Wow!! Luc the great has replied to me. I didn't even imagine you would reply to my useless comment. I am so happy.. :-D

greaaat feed like always .. i will be happyto share with steemians the best 6 steps to invest in cryptocurrencies https://steemit.com/cryptocurrencies/@upbuzz/the-most-successful-6-steps-to-invest-in-digital-currencies

Aaaaannnnnd he's back! Hy Luc! Thanks for the lates video, it actually gave a bit of clarity into what I want to do as a trader. Growing every day thanks to you and others around the web.

Looking forward to the next video, as always!

Hi, Luc! Good to have you back. I hope you enjoyed your days off.
Thanks for taking the time to share this video with us.
Have a nice week!

Great video Luc! Looking forward to the day trading video.

there's always something to learn from his videos! you know what i'll call myself day/position trader as second job on my facebook profile cause it sounds great!

Thanks for the vids @quickfingersluc... Don't feel like you owe anyone a reply man. The fact that you take the time to share such valuable information, and make these awesome videos to begin with is WAY above-and-beyond. Your videos have inspired me. Thanks for that.

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I completely agree. I actually signed up here just because of him. Thanks Luc, for all what you have been doing for us.

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well I do appreciate the love, and will continue to answer as many comments as possible. But I am glad everyone is getting some value from my videos, because if you learn to trade this way, its pretty awesome to control your wealth and grow it

I just got myself into crypto a week ago...I'm so new I feel like a green banana. Luc videos are amazing. Not only they make me understand faster but they give me the courage to embark in a new adventure! Thank you!
Hopefully you will help me reach my goal of 1 to 100. I know it sounds crazy but I'm motivated. 1k to 100k in 1 year.

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Honestly, thats totally doable, there is that much opportunity in cryptos right now

Thanks for the video Luc!

Hi Luc !

I just finished viewing all your Vids on your Youtube Channel.
I will try your approach to boost my mining accounts.

Just wanted to say thank you, I joined Steemit exclusively to follow your Blog.
Good Job :)

very kind of you. We all known luc is busy,and he answer questions, meantime apologize for missing comments...ah.. this coule make us love you even more.
then best wishes.(i know you gonna see this,no need to reply :)

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thanks for understanding.. its getting soo hard to keep up

Luc, thank you so much for all your generous mentorship.
No worries if you dont have time to answer the below,

  1. When you layer/nibble in to your safe zone, do you use any rules of thumbs for how much capital you'll use to layer in at a time?

  2. If you can so easily point out when a chart has broken a base and entered a safe zone, why do you not also pursue short selling then?

thank you!!

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Short selling requires using margin, and that will incure a greater expense and the chance of a forced by back.. Why deal with that when the market has soo much long opportunity.. I have shorted many times in the stock market.. but its not necessary here in crypto, not yet anyway

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My size depends on how safe i feel the coin is.. my biggest trades are on ETH..

Hey, I wonder, how much capital do you think someone would need to be able to earn around 300-500$ daily with daytrading? I know atm its not possible because there is no market scanner, but Im curious.

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i think with $10,000 and a good scanner ,it would be possible

Not sure where to put this, as it doesn't pertain to the video and Luc this question is more towards community (of course your input and advice is welcome) who is experiencing similar things with Kraken.

Is anyone successfully using this exchange? It's been weeks now and I cannot start trading yet, first it was problems with getting my tier 3 verification so I can deposit USD. Then I was trying to set up the wire transfer which has been a nightmare, I get one error after the other.

The support there is awful, takes days to respond, and the responses have no substance or solutions. The last response I got was Friday saying something about needing to manual review a document during verification, I've responded multiple times since then with no response from them.

I have now been Googling to see if this is normal for them and it appears so. All I see is a sea of negativity about this exchange with numerous people having the same problems I am having and MUCH worse. I have seen numerous people complain about not being able to withdraw their funds and that Kraken support is just as bad in helping when this kind of stuff happens.

So does anyone here use this exchange with ease? I am having great reservations now with using Kraken and am kind of nervous to even deposit my money when and if they make it so I can.

The reason I chose Kraken is because it seems to be the only exchange where I can deposit USD and begin trading, being new to the whole crypto world I currently don't have any bitcoin or ether or anything, my plan was to start trading USD on Kraken and then start sending some of my bitcoin profits to other exchanges like Bittrexx. And it seemed like the easiest way to actually withdraw some of my profits when I need to since it would be connected to my bank account.

Any advice would be welcomed and please if anyone is having good or bad experiences with them please let me know, as of now I am very worried about moving forward with Kraken, but at the same time so eager to begin trading......

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I moved from Poloniex to Bittrex

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depending on where you live, you may be able to go to a local service to buy bitcoin.. and then just send them to the exchange of your choice.. I know in Toronto, i was just walking down the street and saw a bitcoin shop.. and in canada there are many websites that just buy an sell bitcoin.. it might be an easier process than sending funds to kraken

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Thanks Luc, I'm gonna look into that. Also looking into buying my coins from coinbase.com as that seems to be the most reliable source to do so online for the US. As far as turning any profits back into USD to actually get to my bank account I guess the process is to send the coins from the exchange to coinbase and sell the bitcoin from there?

Also is it possible to buy USDT and transfer that to an exchange? If so where do you buy it?

Sorry for these questions that are not directly trading related, I'm just dying to start doing so and keep hitting obstacle after obstacle lol, I've watched every video multiple times, read every comment on this blog and have made many sucessful "paper trades" (which are getting boring now cause I want the real thing).

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Im pretty sure your only going to find places that turn fiat into BTC at the moment. Once you have it on your chosen exchange you can then just turn it into USDT if you like.. depending on what your planning to trade.. When I started, I bought $300 of BTC.. and thats all I have ever invested.. from there its just back and forth from coin to coin ..

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Yea that's going to be my plan while I wait for Kraken, they responded saying they still haven't manually reviewed my documents needed to have the wire capability. So the gameplan is to buy some BTC at coinbase and then transfer to Bittrex as that seems like the best exchange and I do have an account there.

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With that being said I planned on putting 3k into my Kraken to start with, but now that I need to spend that money on BTC I wonder if it would be wiser to wait until BTC drops again so I have more to trade with......lol

Luc, I can imagine how responding to all the questions can get to be like a whole separate job.

But I think a lot of the job is just searching through trying to find things you haven't seen yet?

I don't think you need a seperate forum as that would get away from steemit. But what about a daily blog post called, "Q&A for 24July2017." Where each day, or every other day, or start of week or whatever... You just post essentially a blank blog(probably some minor commentary just so it's not empty).

And there, users could go to the most recent blog post to ask questions, and it might be a bit easier to organize.

I'm new to steemit so I dunno if this might be something that wouldn't work, but seems like it might make organizing easier.

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thanks for the suggestions.. yeah, i might have to do a F.A.Q. post or something soon to keep up.. i might just start doing a daily recap video, and talk about the days trades and common questions

@quickfingersluc .. Thanks for all your help! I have a major problem with your strategy! I think it can only work when the market general direction is bearish only. That is, buying in the "safe-zone" can only work, when the next dip will be lower than the current one! But what happens in a bullish market. My orders in the safe zone would never be fulfilled .. Am I missing something ? Thanks again

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I don't know what to tell you.. I been trading this way in the crypto market for 2ish years and umm I have made alot of BTC.. and there have been some pretty bullish times, and i still make plenty of BTC... Just set your alerts under those bases and get ready, because no market goes straight up, and the safe circles are the best areas to buy, hands down, your highest probability trades.. so you have to be patient and set your alerts and wait for the market to come to you

Thank you so much! you are awesome. I am already making money on your technique. here is my first trade. how did i do?
https://www.coinigy.com/s/i/59768a5335c43/

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well im glad you had a successful trade, but I cannot see enough chart to comment.. it looks like your dialed in to close, and you need a bigger picture.. im not sure you were trading off a real base..
Everytime you take any trade, you will have 50/50 chance of profit, so because you made a profit doesnt necessarily mean you made a good trade.. You need to buy in areas where your chance of success are more like 95/5 .. then you will almost never be in a bad trade.. anyways, please scroll out and send a 1-2month picture next post.. thanks

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i clearly don't understand bases and i am a newbie. i will watch your video on that subject again. here is the 1 to 2 month image. Thank you so much. I realize you are busy. i was just playing around with that first trade btw. The second trade is hopefully closer to your style.
https://www.coinigy.com/s/i/59777d175eb37/

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no worries.. qualify your base by comparing the bounce to other bounces of the past.. so if a price area received a big bounce reaction, then draw in that base and wait for a future crack.. set alerts under that base you found.. if your alert hit and you see a bunch of red bars, meaning there is some panic selling, then you are in the safe circle and you can start layering in..
But a base is only draw after you see that big bounce to qualify it..If there is no big bounce then there can be no big surprise in the future.. The crowd makes the story, we only read it

Hey Luc,

Hope you enjoyed your time away and thank you for taking the time out of your schedule to help all of us.

In regards to the Day Trading vs. Position trading, would you recommend day trading for the alt-coins and position trading for the bigger coins BTC, ETH, LTC? I've had trouble entering and exiting a position with larger quantities of coins (10 BTC worth or more) on bittrex due to the somewhat lower trading volume compared to say poloniex, plus the fact that traders are using bots that will jump in front of my bid/ask going up 1 satoshi (.00000001) each time and then other bots are programmed to do the same so next thing I know I completely miss out on where I wanted to buy/sell. I've had better luck with the trading volume on poloniex when I wanted to exit a large position but still encountered some of the issues I mentioned.

Do you find this to be an issue at all with these cracks and bounces to buy and sell larger amounts? or are the swings big enough that it'll get bought/sold no problem? I just wouldn't want to inadvertently put up a wall and screw myself out of a trade. Maybe layered sells? Any advice would be greatly appreciated. Thanks again for all your help.

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when daytrading, and trying to make smaller percentages, i often am fighting the bots.. but with the bigger position trades, i just put my orders in where I want to buy and wait for the market to fill me or not.. I dont concern myself with level 2 in the big trades.. and I trade alts and btc the same.. read the chart to know how safe base cracks have been in the past and then set up your orders accordingly.. I almost always layer in and out..

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Glad to know I'm not the only one battling the bots in the trenches haha. Very frustrating sometimes. I just get a little worried with the level 2 because I don't know how others will interpret my bid/ask and I know you've mentioned to have similar sized bid/asks so they blend in. On some swings I've had entire single orders get filled in seconds without any issues so I guess it depends on what's going on at the time but layering in/out may be the safer option to guarantee fulfillment. Thanks for taking the time to answer.

I think I'm catching the itch Luc...I just looked at a 5 minute on BTC/USDT and already started drawing bases. Looking forward to this chart scanner

usdt_btc - 5 min.png

https://www.coinigy.com/s/i/5976957a86c7f/

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Hey Lingtiloquist
Can you help me understand bases please?
Ive been trying to follow along and I can identify bases from previous dips and bounces, its easy from the past but I am having a very hard time finding and identifying bases on a live chart from the most current part of the chart.

I try to see if I can predict and identify it but it never works out how It should.
Could you help me at all?

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I don't think you should try to predict anything. Let the chart develop and establish bases once they are in place. The bigger the bounce the more safe the base is. It also probably helps if the price rebounds more than once from the level.

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👆💯👍...couldn't have said it any better myself.

Thanks for this video. I suggest creating videos based on 5 - 10 questions per week that you think are important and that you haven't answered before. That way you don't run out of video ideas and you also don't get overwhelmed. Cheers!

P.S. "Swing Trading" is also a possibility.

P.P.S Instead of setting alerts you could also set stop-limits for buys (I think).

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Wouldn't stop limits rope you into the panic dives like the Eth flash crash?

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True. Although, I have a mixture of alerts and stop-limits. Also, I don't risk more than 5% of my portfolio on any one transaction. I'm going slow and steady while I'm still learning.

Hi Luc, hope you had a relaxing week away from us. How do you find the pairs that you trade? The majors (BTC, ETH, ETC, IOTA, EOS, XRP...) don't move much anymore.

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I would set up alerts on anything trading on your exchange of choice that has an active chart.. just set up tons of alerts, and that will keep you very busy with opportunities through out the day.

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And what is your "exchange of choice"?

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Luc had mentioned this at least 5 times already. Please check his previous videos and comments before you ask. Bittrex, Kraken, Poloniex.

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Thanks! I've been working through them

One question luc... I noticed that you almost always trade with usdt.. is it because there are more movement there?

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i only trade some of the bigger coins with USDT .. like ETH.. but i trade all the altcoins against btc or eth

Thank you luc, your videos are so heplful in this crypto-space! Every time i try to make a trade..

Nice to have you Luc! All the best man!

Hey Luc, thanks so much for this video series. You're doing a huge service to the community and it's greatly appreciated!

Originally I wanted to ask you how to prevent myself from getting in too early (I have a very small account, so every percentage point counts), but your emphasis on position trading kind of answered that for me. I realized that my trades are in the safe bubble, but because I'm trying to day trade and staring at these positions all day, I'm getting anxious and making dumb decisions out of FOMO.

Anyway, great series, thanks so much for your contribution to the community. You've got a loyal fan!

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its totally normal to be getting in too early after a crack.. thats why I sometimes nibble.. if i really want in, ill buy just a bit to satisfy that need to trade.. but save my big orders for lower into the safe circle

Hi Luc…I made my account in order to follow your videos. Thank you for the videos and all the answers its really amazing knowledge you are sharing with the rest of us. I really appreciate taking the time to make the videos but I feel that you will be overwhelmed with questions very soon and stop making any videos like last time.
I just wanted to say that you don’t need to bather to reply to the comments. There are really basic questions here that you have answered already in your videos. To all the followers reading this comment I would suggest that you address your questions to the community directly. There are many experienced followers that can answer and explain basics without too much effort.
So no question here. You can relax. I just wanted to say thank you!

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thanks for understanding.. I will likely start to answer less ... soon.. But i'll keep making the videos so we can all grow our accounts together.

Thank you for this video!


Did I misread the chart again? Last time I sold way too fast so I decided to hold this time. But it's been a long time and the price might actually fall below the next support. Me thinks that if there's no movement after august 1 I should sell this off.

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How far back into the chart did you look into?

You should view the bigger story of the chart by zooming out to at least 1 month, preferably 2 months, to make a better informed trade and if you're not seeing the bounces from cracked bases on the larger view then you know not to even take the trade.

I recommend the following approach:

  1. zoom out 1-2 months
  2. draw your bases (and take note of the average drop/bounce from that base)
  3. set your alert to under the most recent base that you drew
  4. if/when the alert goes off, add layering buy orders based on the average drop/bounce length
  5. if/when some/most/all of your buy orders were executed set your sell order at or a bit past the base

Rinse and repeat until you get bored from making money from the market 😂

Hope this helps 🙏👍

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Your time frame is a little small.. you need to be looking at a bigger picture to draw your bases.. if your looking at a week than you need to respond fast to bounces.. I dunno what to tell you with this chart..
Anyway, my rule of thumb is to never let a bounce get away from me without atleast participating.. so that means selling some on every bounce.. But honestly its your timeframe thats throwing you off.. you need to look at a bigger chart and run your odds, figure out what is a normal size bounce..

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hey, thats what i like to see... Your evaluating the whole chart and now you have a good sense of your odds.. I would say that I probably wouldnt have taken a trade off the 700 break, but your odds are still very high, that you atleast get a break even trade..

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On the second bounce, I would have sold some probably at least 50% of your total position. You profit off the last three trades which helps offset the costs from your first four.
I've made the same mistake quite a bit on my first couple weeks trading

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I made the exact same mistake. If you look back in the chart you can see that the average bounce of the other bases is higher (around 12-15%%) and this 700 base is 8.8% so therefore it doesn't qualify as a base.

Welcome back! One question, will you make a video about trading in a bullmarket? I´m aware your current strategy only works on a bearish market. It it even possible without contradicting the current strategy?
Best regards

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I just asked that same question above! I guess someone else finally noticed. Hoping for an answer

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Markets dont just go straight up.. so you will always get trades in every enviroment with this strategy.. but you can always hold a float of coins and sell the panic pops too.. I just havnt covered that part of the picture yet, i want everyone to understand my basic strategy before we get into trading more like a hedgefund..

I'm learning the hard way . I feel like I'm jumping the gun too quickly :/

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Hi I've followed the same trade on steem, guess I even bought earlier
https://www.coinigy.com/s/i/59773b6109677/

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Best of luck to you, mate! I'm hoping for an 8% return when it goes back to the base. I'm very uncertain of the next 24 hours though, I think the market could plummet :) I'm going to buy more STEEM if so!

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I clearly jumped the gun on this one, thought i had it set.... hopefully get to sell it of in the next couple of days, who knows :D.... Now I'm probably just too anxious, but if I look at Steem in general it 'pops' with 20-30% after every break.... should I just be patient... this is my first 'big' trade

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Hey Matt. You are jumping in too quickly.

As for the trade on STEEM/BTC, I would've set an alert a bit under the base formed at the 4200 level and then decided to trade if that base was cracked.

You still can make profit your current trade but it won't be much BTC...maybe $1-$3 worth.

Check this out:

Screen Shot 2017-07-25 at 9.32.41 AM.png

https://www.coinigy.com/s/i/5977487256c0b/

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both of those trades look good to me.. I'm sure that you will be in the profit in no time.. you are doing fine with these entries.. I would scroll out to a bit bigger of a chart.. but i cab see enough to know these are safe entries

Luc, what you have given us is pure gold, pure love here... I would like to count myself with everyone else in saying we can't thank you enough for making this so simple to understand how to trade these cryptos. This is giving me a brand new and much needed steam of income and great hope for my family's financial future. Also, I am really looking forward to the Scanner and am so happy for everyone who has found your blog and videos and for those who will find them soon!!!! THANK YOU!!!!!!!!!!!!!!!!!!!!!

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wow, im glad you are using my methods... It is pretty exciting when you first realize how easy this can be.. Its my only source of income, and I often feel like I retired over 10 years ago

Tip of the day? VIA/BTC just made a huge dive (possible 20% gains).
https://www.coinigy.com/s/i/59772782b3b86/
I bought too early I guess, but maybe someone else gets lucky if my interpretation of the chart is correct.

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nice catch, that coin already spiked back up quickly, those lucky to have had buys ready would of seen a quick 15-20%

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those .0032s would be sweet!! all the way back up to 37 or 38 bounce area..

A bunch of coins are cracking bases!

Love this video! keep up the amazing work! you are so honest and informative (:

Thanks Luc for a quality video once again. But can you please explain in your next video one thing?

In one of your videos you mentioned that you set alerts everyday. So, for example, I set 15 alerts today and out of that 10 went off, what do you do with the remaining alerts? Do you delete them the next day and set new ones or keep them where they were?

This clarification would help newbies like us immensely. Thanks again.

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rinse and repeat... it moves in cycles. set your alerts... when your alerts pop...buy...I like to set another round of alerts for the uptick (on the coins I just bought, and where I plan to sell based off of other average sized bounces)... Then once the bounce happens, and you've sold... you have another base to go off of, and you can set another round of alerts for the drop. As for the alerts that didn't go off... I just leave them in case they do go off. If enough time goes by and the alerts become irrelevant you can delete them as you've probably already set new alerts for that coin.

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I set up way way way more alerts.. im sure I have over 200 alerts going at all times.. and I only reset them when they go off.. my newest video will explain how you just set alerts on everything that has a decent chart

Hi Luc, beginner question here and I don't believe it's been covered in your videos. From my research, the general consensus is not to leave altcoins in the exchange. However, there is always such a delay when trying to move coins from a wallet to the exchange. Right now I'm watching the price of a coin I want to buy rise while I wait for my bitcoin amount to show up in Bittrex...do you have any suggestions to get around this issue?

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you absolutely have to leave coins on exchanges.. you cannot daily move them back and forth to wallets, that will drive you mad, and you will miss most opportunities.. just trade with the exchanges you trust the most and then periodically send some coins to a wallet for safe keeping, or investing.. but I keep a huge portion of my holdings on exchanges to trade with..

Awesome videos..watched it all. Showing us how you put the alerts was great. I had same issue...you look on the chart and nothing is happening

Advise followed about setting up alerts on 'all' charts, my blog: Alert! Alert! - steemit.com

Hi Luc! Thank you for all the vids that you have been making and reuploading, they are extremely insightful. I'm going to be honest and say, even though I have been watching the content, I don't understand what the trading system that you use is, even though it has been referenced so many times
From what I've gathered, it's based off supports/bases. How exactly do you find these supports? What is the criteria for a support to exist? How many supports can you have on your graph at the same time? How far in / out do you zoom to find supports, and what candlesticks do you use? Do you happen to utilise any technical indicators? It would be amazing if you could do a live stream with you doing live trades , so that we can see how you interpret the graphs in real time.
Once again, you are extremely amazing for the information which you share to the community! Looking forward to a response :)

hey @quickfingersluc - got a quick question, which are the best exchanges to trade on? Seems like Poloniex and Bittrex from googling around. Am looking for exchanges that allow shorting, coming from the land of penny stock trading, I find these patterns on cryptocurrencies quite enticing. From what I understand Poloniex allows shorting but not Bittrex shorting but not the latter. Do you think Bittrex will allow shorting in the near future? And, is there any other exchange you would recommend whether having for both a short bias and/or long bias?

Cheers,
Luc (yup also the French way :))

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I havnt really looked to short this market. So I don't know that I can answer that for you, maybe someone else can field this one.. I trade only long this market so far, the rewards are so good on the long side, and we have been in such a bull market that I havn't even considered shorting anything.. But please share anything you find out about which brokers are availible for shorting, and what do they charge for borrows, and so on..

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Awesome, thanks for the reply.

I'll let you know which exchanges allows shorting. From research Poloniex allows it on 12 coins and Bitfinex also but don't know how many coins.

Before starting trading how would you recommend splitting ones capital between BTC and ETH? would you say 50/50?

Thanks for the knowledge :)

Hi Luc,

First of all thx for your great videos, you are awesome! :) I have one question which might have been answered in the videos, in this case apologies, but I could not find it.

Basically if I missed a rebound (slightly, it almost touched my sell order, but did not sell). Should I just get out of the position or wait for another re-bound? I mean I can still get out, but now I am not sure if I should or should I just wait it out and wait for it to go higher? (My sell order is still active).

Here is what I mean, similar thing happened twice today. For info I am setting limit orders, not market orders because I don't have time to sit in front of the charts, at least not yet :)

https://www.coinigy.com/s/i/5977af59f3c42/

Thanks for your input, much appreciated!

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Oh my.. your dialed in so close.. Its very hard to trade this without looking at the big picture.. you need to look at a 1-2month chart and draw your bases.. gosh, i gotta run, but maybe tomorrow i can post this chart in full size for you and show you all those bases... ill try to remember to come back to this comment

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Hi Luc, Thanks a lot for your reply! Can't wait for your analysis :) I did sell at the end, so still made profit. But when this seems to happen I almost always sell too soon. I should probably use your method to only sell a certain amount and have some which can run up. So I'm safe but have the chance to make more. Just need more practice :D My trades are almost all the time positive, but sometimes I chicken out too early haha.

Have a good one, hope you won't forget to come back to this :)

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Im glad you had a good, trade. The best type of trading is when your just deciding where to take profits.. (other trading methods being taught out there, are trying to take losses quickly) But your doing it right, if your always ending up in the profit and your biggest issue is taking profits too quickly.

Hi Luc,

I did my first trades today following your advice.
Since you seems to like charts, there you go :)

https://www.coinigy.com/s/i/5977bc0cc7ef1/

I took positions twice on POT today. 2,4% on the first move and 19% on the second.

I am very happy for now ... lets practice some more

You sir, are a gentleman! I tip my hat to you ;) Thank you!

do you actually believe in the blockchain longterm ? if so, which are your favourite projects ? I am asking, because i find it fairly dangerous to trade shit coins, soon or later there gonna be hughe corrections and everything without real value will drop. how do you protect yourself from that ?

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In most of my videos I explain that I hold only positions that I have made profit on.. I create coins from trading, and then only hold those.. My strategy actually does awesome in falling markets, because it takes advantage of the panic drops .. and if at any time the coin is not obeying the rules, I stop trading it.. its all about probabilities and when there is panic in the market you can really build big positions with out investing much.

Quick question for the bases. I have been reading about trading as I am extremely interested in doing it more and I have no idea what i am doing. Are you simply finding the support levels?

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No, this is not traditional support. The bases are more based on the bounce, the bigger the better. I doubt anyone will explain it better than Luc did in his videos.

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Thank you! I want to learn as much as possible and I am very new. I am trying to get my feet wet with some very tiny trades. I like Luc's methods because I am so new they seem very easy. Even though i have yet to master them. Again thanks for the response! Do you have any additional reading you recommend? BTW i have watched all of the videos at least twice!

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I don't think anyone else trades/teaches this method, I only watch and read whatever luc gets out. I think the main idea about this method relies on people panic selling after a drop, people expect the price to bounce as it did last time, the bigger the bounce, the more reliable the return to it. While in traditional supports, I think the repetition of bounce rather than its size plays a larger role.

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Thank you for answering basic questions like this for me.. very helpful, thank you :)

Sorry,not sure which post to put this under, but looking for some input. Just starting to trade and looks like I'm not learning the bases very well as seen by the following trades, any advice?
https://www.coinigy.com/s/i/597b0b7cd1963/
https://www.coinigy.com/s/i/597b0bcc73400/
https://www.coinigy.com/s/i/597b0c3b0d09f/

Great video! I just joined and have been watching several of your videos. I have been trading on GDAX for the last month. Mostly Ethereum. I like it and have made a few hundred since I started. Some days are very slow and the volume is low. 1-2% change, not much going on. For those days what others do you suggest I should look into for trading? I just joined Kraken so hopefully that will open up a few more options. Thanks!

Excellent videos, please keep up the great work. It is refreshing to get some good honest advice.....for free.

Thanks Luc for sharing your methods with us all. I just found out about you (so, unfortunately, haven't seen your older videos other than the reposts to your new channel), so I do apologize if this has been covered somewhere before, but I watched your position trading video and was wondering (since these are not day trades and positions might be held for days) how/if you handle your stop-losses or limit-sell orders. I'm sure in day trading since you're watching it in real time you don't do this. Thanks.

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He never uses stop losses, because he barely has any losing trades. If he has he cuts the losses, most likely layers in the sells at next bounces.(This is all in position trading, I dunno about daytrading).