The Happy Steem Trader episode #18 .. Steem's price spiked and I made a killing today
I had some awesome trades today, I can't wait to go over them with you in the video.
They were all in the penny stock market, but wow, the moves in cryptoland were awesome too. The Steem price jumped from .0024 to .0036 last night then back to .0026 this morning and another bounce to over .003 this afternoon. I missed that first huge spike, and even if I saw it I'm not sure I would have participated anyways. I'm hording my precious steem. But if you wanted to be trading in and out of steem, than this is the best environment. Those percentages are awesome for building your account fast.
Lets get to the video and discuss all today's crazy moves
I am so thankful to everyone upvoting these video posts. It's great to get some exposure and have more participation. I'm already on a bit of a high from this awesome green day, but I'd be happier yet if any viewers had a good trade or two to share with me also. So please leave your comment and questions. There's nothing like trading, once you get a taste of it, you'll dread the weekends.
Cheers,
Luc
From my understanding you look at -
Context - in ETH the context is a failed higher high and the prior panic drop down to 130s
Probability - looking for high probability setups, given context and overall panic sell strategy
Signal - ETH failing to hold uptrend, failed higher high (or double top)
Entry - in anticipation of a drop fading in around prior panic lows for a quick bounce
Some trading gambits - such as round numbers, what a lower low means to you that gives you a little more of an edge.
All with price action and without indicators.
I think we have very similar trading methodologies. I don't really trade cryptos actively. I mainly trade brent crude spreads and flys, mean reversion, range trading - not too many panic sells there, but the identification process is similar.
Thanks for your posts, I haven't managed to watch all the videos - but you very clearly know what you're talking about - please keep them coming!
Thanks for the support @wingz .. Yeah, I've been trading long enough to just go for the easy trades. I love waiting for something obvious to happen and then get in heavy, instead of trying to predict the future. Basically in my stock trading account I'm all cash and waiting for a panic, then I'm rarely in a trade for more than a few minutes to a day. In crypto, I'm sitting in bitcoin, waiting for the same thing. If I'm going to invest in a coin, I only hold onto things that I have made profit on so that my investments are free. (I guess the exception being steem, because I really can't help but buy these low prices) I try to mention in most videos that I think in percentages. I need a good percentage profit on each trade. The bigger the swing the less risk you have to take, it's a hard concept to grasp for most.
I'm glad to have some real traders following my blog, I will follow yours as well. It's all gonna get very exciting in the coming months as steem gets some big price moves. Thanks again for your vote :)
Excellent analysis. Thx!
woohoo, no more cricket!!!! i understand steemit but why LBRY?
I don't own much of LBRY, but it just like the idea of having a video library on the blockchain.. If it tries to replace torrent sites, or streaming repositories, it could be great. I don't know there game plan at all.. I just think the idea is good.
So how do you determine what to invest in versus trade in?
Are there emotions in involved - or is it reading the chart story.
P.S. Congratulations on a successful day.
It's all chart for me. I look up any investment only to find out if it's going bankrupt or has some major news. Besides that I don't care what type of business they are involved in. I only look for volume/action, great percentage swings and easy to read/predictable chart patterns.
Congratulations on the great day! I wanted to thank you for all the great content you have been putting out. I just stumbled upon your work yesterday and started following you.
I was in the finance world myself and am loving your videos and trade breakdowns.
It's great to see someone go through the ups and downs of building steem power and a stronger reputation. Of course I'm doing it because I love it, but thank you for the encouragement because, of course, we all want everything to happen so fast.
Please keep it up!
Thanks, I'm happy your finding my videos helpful. It seems like there's so much I've picked up over the years of trading, that I just didn't know where to start. So rather than make some sort of long boring trading tutorial, these 10-15 minute daily videos should eventually answer all the questions everyone might have. And yes indeed, the extra steem power that I get for making these episodes is a bonus.
I agree. I prefer this format of telling us your day's activities and explaining them rather than an academia-style lecture about it. Both have there place, I'm sure. But I am enjoying this better.
What bitcoin exchange do you use as your API account for Coinigy?
I trade on a bunch of different exchanges.. they all connect via API .. thats the wonderful part.. one platform that controls all your accounts.
For simplicity to get started, if I only wanted to get an account at one exchange to see how it goes, which exchange do you think is best? I currently have all my bitcoins with Circle because as a wallet it is very convenient. But for this, I'd obviously need to move those to another option.
Thanks again for all your help in this process! I'm in the process of watching all your youtube videos and am really enjoying them.
I was learning towards Poloniex.
Ok it is starting to make more sense to me now.
The Youtube link is dead. :(
you are correct.. all those old blog post have lost there videos, I closed an old youtube channel and started a new one a while back.. sorry, you will have to go a little higher on my blog