Trade like a profesional, with no emotions + building small accountssteemCreated with Sketch.

in trading •  last year

Lets discuss together a professional trader mindset..

Also I have received questions on where to sell and how to build small accounts. Im having a rough day, with a bad headache, but I still want to deliver some content for everyone, especially when BTC and ETH are making new lows..

As always, thank you for watching, upvoting, and commenting. I hope you are finding these videos helpful in your trading. A special thanks to all those who include charts in there posts, it really helps me answer you when I can see what your doing.

Luc

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I posted this on your other post, but i'll put it here in case you are not checking the comments on the other one.

Hi Luc,

I have been working on a Market Scanner these past few days. I have something up and running. It only checks Bittrex at the moment, but I am going to add a few more exchanges in the next few days.

I think I've made it work the way you want. If not, I can tweak it to your requirements.

If you want to try it out just drop me a mail (dogphishtemp at gmail.com) and i'll send you the URL. If you think that it works good then i'll try and put this somewhere for everyone to access.

Here's a screenshot.

http://imgur.com/a/mgqpO

Michael

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I have someone working with me on creating a scanner, and Im pretty confident it will do what I was hoping. However feel free to send me your results, and I will check the charts to see if your scanner results are working.. thanks

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I'm not Luc, but that looks pretty sweet.

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Hi Michael, I'm a developer myself. This chart scanner will be very helpful, I've been willing to build one myself, but if you're already building it I'll gladly help you adding more exchanges and features if you want.

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Hey Michael - I know this is a little late reply, but I'm willing to beta test your scanner and give as much feedback as possible. Let me know if you're up for it! (Would have sent you a dm but doesn't look like you can on this website.)

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Micael. Just a quick not to thank you for the scanner. I will be donating to you as I grow my account.

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Really cool dogphish!

This method seems to work great on a down-trending chart but how would this work on an up-trend? The base would not be broken on an up-trending chart. How would that work?

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thats why you have to collect some of these coins and keep them.. trade them now and make some profit but keep some stored away with your profits, so that you can enjoy the ride up, when things change.. there are many stratagies you can use to participate on the way up, because as things go up every trade works.. but yeah, i should discuss this in my next video

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That would be great, I have some coins I like and a percentage is kept in cold storage but would also like to be doing some trades on the way up also. Looking forward to the next video, your stuff is great.

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Hey Luc, hope you're feeling better. Are there any exchanges that allow you to invert the trading pair?

As in, trade ETHUSDT using your method on the way down and then if the market turns around, switch to trading USDTETH.

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that is the same pair.. regardless of how they lable it.. it would work the same.. when you make a trade your simply exchanging one for the other

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OK, thanks.. I was hoping that the charting would allow us to trade your method (long) whether the price of, say ETH in my example, is going up or down without having to short. I figure the exchanges only want to price using certain base currencies. Thanks again!

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hi luc....I too am an options, stock and futures trader. I am opening an account on cex.io. The question I have is, after you buy the currency, do you place it in a wallet or keep it on the exchange. This is all that is left for me to figure out before I start to trade. A video on what we have to do once we purchase the currency would be awesome along with the exchanges you trust and trade on.

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I keep my money in exchange simply due to the fact I don't think coinigy offers you to trade with money in your wallet, if you want some good exchanges check out kraken, bittrex, and I use poloniex too(which has had some bad rep lately) I know I'm not Luc, but I hope this helps(:

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coming from the stockmarket you might find some of these exchanges frustrating, because there is no help line to call if you have an issue with any trade, or a glitch in the exchange platform.. anyway think of the exchanges as your brokers, (even tho you cannot call them) and you simply buy and sell or trade the coins on there list.. you only send coins back in you wallet if your goin got hold them for a while.. Ofcourse there is the danger that an exchange will get hacked or close or something and you lose your coins.. that could happen so I spread out my coins at different exchanges, to keep me in the game

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That would be great, as trading just ETH/USD at minute, and sold on last rise and things look to be turning

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hey Luc @quickfingersluc , would you be able to go over the 50% retracement moves that you worked through in some of your old videos please? that was really interesting stuff and made sense. thanks very much!

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Back in that video I was explaining the laws of averages.. and how a large group of people will tend to find an average price.. so even it something is trying to run higher in price, i likes to pull back to 50% before it makes its next move.. but yeah, I guess I could address that in the next video.. it isnt really relevant to the bases/safe circle method i have been explaining here.. but no problem, ill write it down

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It wouldn't be as nice a chart or strategy in that case. Bitcoin and Ethereum both looked like that for a while tonight.

I think the answer is you simply would have to find something else to trade. It's not worth the risk of buying at a base and hoping it keeps going up. You may kick yourself when it goes up 10% without a crack, but you WILL kick yourself when you lose 10 or more % and have to hope it goes back up.

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I would think you could use the same methodology. When it rises, on the first mini crash down (half way or even lower to its previous base) buy. Sell at 10-20% or whatever your target is. Repeat. Once you have a few rises and crashes you have data to look at and note how long the rises and crashes are and use that info to set your buys/sells if its a bull market. Does that make sense @quickfingersluc?

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thanks for this question, that's what I was thinking about.. Luc's strategy is excellent on a downtrend period, but what about the uptrend period...
thanks to you and Luc

Hey Luc,

I'm testing it out, but there's an android app called Boilr that allows you to set alarms based on % change and time interval. I'm using BlueStacks Android Emulator to run it on my computer. I'll let you know if it seems to work, but you have to set each alarm up separately--yet it seems like you only have to do it once per coin per exchange.

Alternatively you could also run it on your phone. I set a test alarm (1% change in 5 min) and it worked! It could be a poor man's market scanner in the interim, provided you take the time to manually add an alarm for each crypto (unsure if there's a max alarm limit).

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Thanks for letting me know about BOILR, ill check it out.. there probably is a limit to the amount of alarms, but it might be good.. Regardless thanks for the heads up, im working hard to find one..

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Took alook too, appears not update recently.Have found Coin Alarm & Widget by Nextcoin on android playstore has percentages +- we are after.

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Take care of that migraine Luc.
On that Scanner i know we want to pull info from the exchanges themselves to have better response time. Can you give me like your top 5 exchanges you would want this to scan. I have someone willing to see what they can do. I would like just a few to test with and if they work then we could expand to more.
These are the ones I gave for now.

  1. https://www.kraken.com/
  2. https://bittrex.com/
  3. https://poloniex.com
  4. https://www.gdax.com/
  5. https://www.bitfinex.com
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Those look fine.. I use your top 3 and I also like trading hitBTC

Hi Luc. I just came across your blog and I find it pretty insightful. Thanks for the work so far. I only have Poloniex and bitrex exchanges. What top exchanges will you recommend I get in on? and I will be glad if you could share some of your favorites with me to get started with the chart analysis. Also I have been holding ETH in a coinbase wallet for a while . I got into it in march with an investor mindset. I will like to get in on the trader kind of mentality. Thanks

Another Luc's masterpiece video. Even with a heavy headache he's here gently making an effort to share his knowledge, wisdom and experience with us.
Thank you, Luc! We all deeply appreciate! Wish you a swift recovery.

Thanks again for another great video! Sorry that you weren't feeling the greatest today. Been loving the videos, Made some really nice trades so far.

I was wondering if you could maybe do a video about a different trading technique on how to trade on an extremely Bullish chart, something like what was going on back in May. Maybe I haven't looked closely enough but back in May it seemed like a lot of coins, Ethereum especially were just going up so much that they never really broke any bases for quite awhile.

Just curious if there is any safe ways to trade on that kind of trend in the event that in the next few weeks or months down the road we get a similar situation. I'm mostly wondering because if I'm sitting with most of my portfolio in USDT waiting for bases to crack, I could miss big gains if everything skyrockets back to all time highs or further.

I know you say you don't breakout trade so I'm curious what you think someone with a smaller account should do when the market turns around. Just grab a few strong coins and ride them up, or maybe there's a strategy to getting in and out of positions in that scenario?

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I often say to everyone in the videos that I hold some of most of the coins I trade.. you have to start building a portfolio of coins.. and even though the market turns up and you feel like your missing a large opportunity because you are not all in, you will still realize huge gains because you are sitting on all those free coins.. plus, trust me, there are always new trades and big swings to get you in.. its always a win win situation.. all the trades you take on the little coins will work even better with a bull market.. basically any trading system works in a bull market.. but mine even works in a bear market

Thanks Luc for taking your time, even when you have this severe migraine and creating quality content for us. Best wishes from all of your followers :)

Great post, scanner is a super idea for all of us.
Can promote on FB as have a lot of collegues who want to get into crypto trading

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ofcourse, thats fine.. Im just using steemit as my one center to answer questions and create a video teaching library.. but please feel free to promote this blog anywhere you think it will help others.

Whats happening with the PSD coin is pump & dump. There are several groups on telegram, some with 20k+ members that announce to buy a certain coin at a certain time, etc. So the suggestion is for those who want to look deeper into those coins probably good idea to join those groups and you can be ready for the pump and hope you hit! Coins are often repeated in pumps every few days within a couple weeks (or more) time frame period.

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Good point, sure looks like a pump and dump. Putting in orders should take care of this though. If you buy it when it's relatively low, you can just put in a sell order for whatever point in the average spike that you want :)

Thanks again for your videos. You are valuable to this community and your posts are seriously undervalued in payouts here imo. I made a couple purchases today in the alt coin space. And was able to do some quick flipping of btc, ltc, and eth :)

I did like the looks of AMP today. Picked some up at 8200

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Thanks for the screen shot.. 1st thing is I think your not on 1hr bars, and on the one hour timeframe AMP has not been trading properly, its missing the bounces.. So for that reason I stopped buy it for now.. 2nd, your not allowing a base to form and then a panic below the base..
It takes time to see the charts the way that I see them, but if you keep watching my videos, Im sure you will get it.. and you can always post charts, to check with me..
I agree that the upvotes are not paying me much in steem, however I am not making this blog with that incentive in mind. I just want to help others grow there accounts like me..

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Thanks for your response. It's something that I'm learning to do . . and I appreciate you taking the time. I'll continue to keep watching the charts, and learning your style. I've been trading a different type . . . but I really enjoy the way you trade, so I'll keep watching :)

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It doesn't look like you're following Luc's method here. His strategy is to wait until the price goes below a base, when there's a panic and a sharp dive down in price. In this case it looks like you're buying right at the base and hoping it will turn around there.

I should know, I've done this plenty. Just be careful not to get burned trying to predict where a price will go. What's great about Luc's technique is there's very little guessing involved - the price is so deflated by the time he buys, there's built-in upward pressure for it to recover.

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Spot on!

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Something isn't adding up here, AMP/BTC on Poloniex hasn't been anything near 8200 since the 11th, and my chart looks nothing like yours. PS: +1 to everything @wisebeardy says below.

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It's over 8500 sats right now @tizzle
https://poloniex.com/exchange#btc_amp

I agree @wisebeardy, it isn't Luc's method. I'm learning his as well. The AMP purchase is using an RLZ around the 78.6 fib for an entry level, looking at the overall trend. It's more of a longer term trade. Momentum indicators and market structure are used in conjunction with price location. But . . I really love Luc's method. Hoping to incorporate it for day trading.

Always appreciate your videos! I've signed up for a Coinigy trial and am really liking how it works at the mo. Still treading the waters and getting used to the world of #cryptotrading. Thanks for your help :)

Hey Luc, following along since about a week and watching past videos, thanks for the great insight you give. And get well soon, amazing that you even took the time to make this video.

I tried your method and it worked (of course!), although I did make a mistake and maybe sold too soon there, but at least it was profit so that's good :).

The 'Oops' refers to the mistake I made, guess was too excited to get in the coin again haha. But the next two buys were great I think, almost at the bottom. In for 3 buy moments now, average at about 0.083 so waiting for it to bounce (now at 0.084). For now 5 to 10% would we fine by me. For ETH that's a nice percentage I guess. And after that sell just wait for the next buy opportunity.

Probably should have sold after the Oops and Yes. Then make that Yes the new base. That would have pushed me to sell the final Yes in this chart already at 0.082 - 0.084.

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Two of your trades are ones I would have taken also, so thats a good start..

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thanks! just sold the rest at 4.4% (.087) and 6.9% (.0891) New base set at .0832

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GREAT trade on the 1st two buys you had on BTC/ETH!!!

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Thanks 😀 ! Trying with very small funds. Also had a trade on AE/BTC, made almost 40% on that one. But it was just a $50 or so trade. For trying out Luc's method, so far if worked. Was on an exchange not supported by Coinigy so no nice chart.

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It's impressive to see that you bought 3 times right at the low point. It looks like the first 2 were at support, but how did you decide to take the third trade at that point?

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Thanks, beginners luck? I hope not :) ..

The third buy moment you mean? That was a mistake for sure, don't know why I did that. Depending on which coin I'm trying to sell at 5%, 7.5% and 10%. Also trying to buy like 5% below a base and then further down. That's a new goal at least. Which in case of ETH seem reasonable, although sometimes you see 30%+ on a day, but yeah you have to be there and read the story of the chart like Luc says. Not even close to what he is doing. Last week I also traded AE/BTC, just a small amount like maybe $40 but that got me almost 40% in a few days. But very low volume coin that AE thing, be careful with it. So for some coins it is possible to get 20%+ percentages on a trade. Just set the sell orders up and try not to touch them :) Have a little faith right ;) ?

Hope you feel better soon man. And thanks for this video. In my opinion it is your highest quality educational video, because you emphasize what not to do, and outline how to avoid the common mistakes.

I love how your Trading Videos 2.0 series is going. It seems like your engagement with this community on steemit is making it really clear what common mistakes us newbies make, and I can't express how valuable it is to get your help avoiding these pitfalls.

Many blessings.

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Thanks for the encouragement to keep making videos, I am so busy that I often think of slowing down with the videos. But then I start making lists of peoples common questions, and I decide, i better make a few more.. I hope that after a scanner comes out, my videos will be more about what awesome trades we got today, instead of always instructional videos..

Luc, thanks for being there today. Migraines suck and there is so little you can do about them but wait them out. Make sure you're drinking plenty of water.

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A shot of espresso helps because caffeine is both a migraine trigger and also the cure. Thats why they include caffeine in Excedrin.

Quick question, would it wiser to trade pairs where one of them is a Fiat like USD or EUR? I understand that when trying to get more BTC (or ETH) you should trade BTC/ETH for example.

But because BTC/USD is going up and down so much, ETH/USD or ETH/EUR would seem wiser. Except of course if you want to hold BTC for later, like a couple of years: but predicting the future is hard..

Everybody needs to pay bills with 'real money' since it is not possible yet to pay everything using a crypto currency.

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I dont worry about the ups and downs of the BTC im holding, or the BTC im using to trade other coins with.. if you keep switching back to fiat then you will miss many many good trades.. so you have to reserve some BTC to use for trading other coins.. its all part of the business

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My thoughts: If you're not using the BTC you're making to pay the bills, then the weekly ups and downs don't matter as much. All that matters is the long term BTC trend. Which is up up up.

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Yes that is what others tell me too. Buy, Sell, Repeat. And put a percentage of the sell profit away for later like Luc suggests. Sounds like good advice to me.

Thanks for making a video despite the headaches. Hope you feel better.

Hey Luc sorry to hear you're not feeling well. Do you like this base at 14? It's currently Monday night and we're sitting pretty at 9. I like this base but wanted your feedback and anyone else on steemit that follows you.

Cheers!

https://www.coinigy.com/s/i/596d5ec654ed5/

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Ooh thats a tricky one.. the chart looks awesome, but that one drop from 17 to 10 was big and it did bounce imediatly to 1300, when the base could have arguably been at 1350.. so its hard to say if it will go back up to 14 anytime soon.. then that bounce off 8s to almost 11s is again huge percentages, so I thing you have to accept 8s as a base.. its such a good chart that im not sure how to advise you.. its somewhere between a low volume account builder type of play and a regular chart .. So I would just make your entries small and try to milk it for a while off any new low you get..just buy all new lows.. thats what seems to work.. I would also be layering in on this one, because its shown that it can panic dip..

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Hi canada-tothemoon
I think that if you move down to 1h chart that would be a great winner, with more than 10% winning .
It jumped up to your 14 base in the next green candle.
please correct me if I'm wrong, just learning like you.

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Just got to thank you again Luc! :) I know what that headache means and it really sucks. Still you come through and give us this great knowledge. :) Thaaanks! :) The pieces are falling into place more and more.

Hey Luc, thanks for the videos, they are really helpfull.
You said in the other video that in case you have the market scanner you will set alerts in case the price of a coin drops for 10% in the last 5 min. Don't you think that 5 min is too short, i think that a good interval might be 30min or 1hour. I don't think i ever saw a coin drops by 10% in the span of 5 min.

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the market scanner would be for daytrading pimarily.. I agree that ETH and BTC and such dont ever drop 10% in 5 mins, and we will continue to trade these using alerts that we set in Coinigy.. But there are many lower volume, thinner coins that do drop very fast and will make small fast trades possible.. Look at FUN/BTC.. i got that spike down yesterday

Hi Luc,
Thanks for the Videos.

HEY, I used to get migraines, suffered for 20 years.

Figured out it was from eating bananas!

Stopped eating them, haven't had one since.
Hope this helps,
Cheers
Chuck

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Lol.. nice.. i havent eaten a banana for a few weeks, so i can rule that one out.. but thanks for the idea :)

Is it a PDC-superspike? :) Can it go all the way up? :)

Skärmavbild 2017-07-18 kl. 13.14.45.png

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Already back at the buy-level. :O

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Kind of. It was not for more than 60s. Even though I bit inside the spike my order was just not processed :(. Probably we will need to wait for next 5 days :).

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Yep! Seems like it. :) I'll keep the sell where it is.

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there is never any fortelling how high it will go.. the spike depends on how big the buyers order was.. but you are in profit so thats a good sign, you might want to layer your sell order though, beacuse u dont have to factor in comissions

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I let it go with a few dollars profit. Didn't want to get stuck. :) Off to other promising bases/panics and I'll maybe revisit this one in 3-4 days. :) Thanx for everything Luc! :) I feel really motivated with my new knowledge.

Hi Luc,
I just opened account with Bittrex and bought some bitcoin to trade after watching all your previous videos.
I will try the small account builder that you mentioned in this video. Hope to get to your level soon !

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I wish you the best, and am always here to answer your questions..

Hi Luc, just started watching your videos a few days ago and I'm extremely excited to give your strategy a try, thanks for sharing it! :)

Do you think ETC is a buy right now, or do you consider this dip to not be a "Surprise"? If it drops to 0.006 I'm going to get in (unless you reply to this first and advise otherwise). Thanks again for sharing your knowledge man, it's greatly appreciated!

Also, one more question: How do you adapt this strategy in a bull market?

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Thank you for including a chart.. yup, it does look pretty good to me... you should scroll out so you can check your odds of success tho.. let me show you:

thats a perfect chart

Hi Luc,

I hope you are doing better today.

I´m watching/reading all your Post and also all the comments in this great community. I really appreciate when you use the terms "us" and "our group". This shows what your intentions really are about. Helping others discovering the huge potential in cryptos.

I´m just starting trading and bought my first ETH and BTC on coinbase and set up accounts on Bittrex and Kraken so far. I even managed to link them both to Coinigy. What I have problems with is, how to send the funds to the trades and implement them to coinbase, so I can start trading?

Also what wonders me is, how do you keep track off all the currencies you own? Or do you trade only BTC/ETH against other coins and back?

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after you fund Coinbase, then you just make a transfer to the exchange of your choice.. this doesnt take long.. and since you have Coinigy linked to your exchanges your ready to trade.. I keep a set amount of ETH and BTC and USDT in my accounts so that I can trade any pair.. After you make a few trades, it will all get very simple..

Hey Luc you're on a roll with these videos. They have answered every single question I have had. Can you tell me how you keep track of your profits and how you manage to not put all your profits into your next trades? Also do you move your profits off the exchange? You always talk about taking the profits out and keeping your original amount to trade with for free coins. I am using a smallish account and find it hard to keep track of everything unless I go to my orders and see how much was traded and even then I don't keep my profits.

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Everyday Coinigy sends a balance statement to your email. That will lay it all out for you, what your in and what account is worth as a whole... besides that, in one of my videos I showed how to use Coinigy charting to see your % on a trade.. so that will maybe help you to figure out what you made over what you have... Im not sure if that answers your question.. but I always keep some of what Im trading in the actual coin, for the future

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I never knew that but thanks that helps a lot. I actually understand now what you meant. You can sell at a certain price and buy back in at a lower price for the same amount you bought for and be sitting on free coins. Today was an amazing trading day. I just hope Ethereum panic drops again! You're awesome Luc! Also I avoided USDT because I didn't understand that it usually 1/1 for USD and now my two main wallets are ETH/USDT

@quickfingersluc .. Can you shed some light on expected gains from such trading. Let's assume one wants to play it safe, and only do high-volume well known currency pairs. What's an average return per month say? Thanks a lot for your vids, love em!

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its impossible to know.. not only does every trade give different percentage opportunities, every trader will enter and exit at different spots.. take ETH for example.. two days ago we hit $135 and now its trading at 210, thats a 55% return in two days!!! will you buy the perfect bottom and sell the perfect top, not likely, but you will make some awesome percentages in there somewhere, here are my buys and sell on this last dip:

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Just saw ETH is now up $100 from two days ago and came to congratulate you!!

@quickfingersluc How do you keep track of your portfolio? Excel sheets?
Online crypt portfolio trackers? And again, another great video.

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Honestly I dont really keep good track of my portfolio..all I know is it keeps going up, because I can't even remember that last bad trade.. its all win win win.. so I just see charts and take trades, and make profits, and add it all up at the end of the year..

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Also, is there a portfolio manager that can connect to Coinigy API? Been searching internet but I can't seem to find the answer.

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Just found an answer...lol. I'll try cointracking.info and see how that goes.

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I've been using Excel to give myself a sense of how successful my trading patterns are while I'm still learning. But it's a real PITA to keep up. If you just want to see how your portfolio size / coin allocation changes over time, Coinigy will show that on the Balances tab. Just go there and then choose Chart View.

Screen Shot 2017-07-17 at 2.04.30 PM (2).png

Been following this low volume coin, and just a few minutes ago my alert got triggered (account in process so its not a buy order)then it dropped below 0.00001000 down to 0.00000911, by the time I pulled the chart up (some 30 seconds later) the price already jumped back up 25%. You can see on the chart I provided it just happened. Now my question is had I had a buy order down there at where I had my alert would I have gotten in down there? Or would that drop in price have happened too quickly. Kinda threw me for a loop, but if I'm looking at it right I could of had a quick 25% profit had I set a buy order down where I had an alert set, correct?

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You would have gotten it.. the exchange doesnt skip orders.. we dont have a book like the stock market where participants can buy anywhere on the level 2.. so you would have been executed, because you would have been in the line up on the bid.. This happens to me all the time..25% in a minute

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That's pretty damn exciting!

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Your alert is set for 900, why so low? ADT dropped to 911, was the alert in your screen capture set after the drop?

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I had two alerts, one at 1000 and one at 900, the 1000 one went off since it dove past that to 911. I set my alerts that low for this exact reason to see if theres a quick drop like there seems to be on previous recent areas of the chart. It just all happened so fast, I doubt I could of manually done anything about it, just curious if the buy order would of taken place since the dive down and bounce back up was so fast and furious.

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Sorry Luc, when I posted this earlier I was busy at the office and had not gotten a chance to watch the video itself and you answered my question with that last example of where to sell. Hope you feel better, this video was gold!

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I bought some of those in the early spike down. I did it just like you but instead of alerts I'd buy orders and worked just fine

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Sweet! In process of getting my exchange accounts set up, can be quite the pain in the beginning lol, in the meantime I've been watching all these trades I could of taken and its KILLING me!!

When you have a small account and you're setting buy orders on these low volume coins hoping for quick drops, do you have to be careful about not setting too many buy orders?

Like if I only have $1,000 and the amount of buy orders I set amount to more than that and they suddenly go off and execute the buy what happens? Will the buy orders that you no longer have enough funds for just not get processed?

I ask because I feel like to truly take advantage of those quick drops in price you're gonna have to set up a lot of little buy orders, kind of like little traps, I just don't want to overextend, but at the same time don't want to miss out by not having a buy order ready for those quick 25% gifts ya know. I hope I explained myself properly lol.

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You cannot set too many buy orders, the exchange wont let you.. You can only set up buy orders equal to the amount of money you have availible.. and these are high percentage trades, so if you have $1,000 dollars, i would split that up, into atleast 3 parts.. $330 $330 $340 and then trade three different low volume coins.. even if you make 20-30% on a trade = lets say $100 profit per trade, that only takes you 10 trades or so before you have doubled your account.. but you have alot less risk than putting all 1,000 on the line in one trade.. 10 trades go by fast, maybe 2 weeks and you will double your account.. thats how powerful this type of trading can be on a small account

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I'm putting this into effect right now...I'm looking forward to turn my $1000 into a $10,000+ in the future. Thanks Luc!

You mentioned that you hold onto 20% of your ethereum. Do you follow a specific set of rules to come up with how much you sell and how much you hold onto?

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nope, not really.. I just hold some.. if it was a great high percentage trade, then I will likely hold 20% or more.. but if its a smaller trade then I will hold just a little, and i send those ETHs off to a wallet periodically, so that my numbers dont get confusing.. i just like to collect "free" coins..

Thanks for sharing this Luc! Check out my 1st trade on BTC/USDT:

Screen Shot 2017-07-17 at 1.30.18 PM.png
http://imgur.com/cH5x63H

I didn't realize that USDT was the tether coin that is basically a coin pegged to the dollar....so I had to sell 5% of my BTC for USDT to get into the trade.

I made a few mistakes along the way and realized I'll have to keep some USDT in my balance so I can make all the UDST trades that come up in the future.

Thank you for all these great post!! I'm studying and hoping to learn your formula. Resteemed

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Hey, thanks alot for the resteem.. I appreciate you helping grow my blog :)

Thanks for this video Luc. I was wondering if it's worth or even possible to trade altcoins paired with BTC in channels (instead of trading pops/pumps)? I did some trades on SNM/ETH that you showed in your videos and some other coins and it worked fine, but I've looked over like 100 coins on Bittrex and didn't really find any coins that would move with high volatility like most ETH pairs do. And also, do you care about round numbers when trading? It seems that often there are going to be bases or resistance around 1, 1.5, 2 etc. Maybe that might help in gauging the bounce or dip size.

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I only trade low volume thinly traded coins (account builders) in ranges.. its not predictable enought to try to do that with larger coins like ETH.. they break out of there range too easily.. thats why I trade ETH off bases and panics.. I read the charts and let the chart story tell me what strategy I should be using.. and yup, round numbers are important, because humans are the traders, and thats how they think.. so as an example 200 on ETH was great support in the past

Luc: I am growing concerned I may have made a mistake. ETC/ETH is experiencing a panic drop today, I bought at more than 10% below the base in the middle of the panic. https://www.coinigy.com/s/i/596e66abc6b56/

After this buy I checked out the ETC/USDT and ETC/BTC charts, both were climbing at the same time. Thats when it dawned on me that ETH is skyrocketing today, which is in turn decreasing the value of the ETC/ETH pairing - in fact virtually all of the ETH pairings that I watch are diving huge, my alerts are triggering so quickly I cannot keep up.

Should I have considered the strength of ETH prior to making this trade, or do you think it was fine? Am I being overly cautious? Should I have realized that when ETH skyrockets, it can negatively affect the alt-coin pairings that are traded with Etherium?

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yes and no.. I agree that the drop is due to the value of ETH increasing fast.. however based on the chart of ETC alone, your entry is pretty good.. I would have drwn your base around .081ish tho and you should scroll out your chart to see a more fuller picture, but i think you will be fine, because I looked at the bigger chart and it has a great history of returning to its bases.. so in my opinion your entry is good, but make sure you participate in selling the next bounce, because you didnt catch the bottom on this and your profit % potential is not that high..

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I reviewed 6 months of data before choosing the base at .078, I posted a more zoomed in chart only because I thought it would better express the post - we are on the same page. My base was initially at .081, but I revised the base to .078. Why would you choose the higher base, rather than the more conservative .078? I suspect there will be a good lesson to be learned for me in your response.

Can you go into greater detail about reviewing the gains or losses of coin pairings prior to placing trades? I intended to layer in and buy more as it approached the bottom, but I got gunshy - I wanted to wait until I understood the cause and effect of ETH skyrocketing so quickly, and ETC dropping like a rock before I placed any additional trades. So many opportunities yesterday to trade on ETH coin pairings, but without this understanding I felt it was best to sit out until I better understand why ETH's rise is affecting coin prices and how best to take advantage of it with my trades.

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I choose my bases by the bounce they recieve.. ETC bounced from 81ish to 96.. the 78 you are refering to had no bounce (on the Bittrex chart) so it doesnt qualify as an area where buyers were willing to move in on the price and buy...
As far as your question on coin pairings.. Everything relates to eachother in the market.. So lets say ETC is paired with ETH... but ETC is also paired with BTC.. if BTC stays constant but ETH falls in value on the ETH/BTC pair, then what happens to ETC/ETH pair.. because all three are paired against each other..But its only ETH thats falling.. so should ETC lose BTC value? Or should ETC/BTC stay the same but ETC/ETH go up, since ETH is going down.. its pretty complicated to think about, but each coin in a pair effects the other pair relationships.. So basically if one coin is having a big move, in relation to BTC then you can expect other coins to react that are connected in pairing.. And i know that doesnt give you an exact answer but there really is no metric for this, because its not like the stock market, where there is one base currency, its like forex, where pairs are effected by other pairs.. Thats why its always best to trade the chart, and not let things get too overly complicated.

Welcome back I enjoyed your old videos. I have taken a few things from your videos and integrated it into my trading, though I do trade differently. I'm not sure what advice has been given to you yet about securing accounts, etc. but I am going to give a few tips that have helped me immensely:

  1. Use a password manager such as LastPass(this is what I use) and let it generate a secure, complex, unique, long password for every website. At least use if for the websites that security is a must.

  2. Use 2 factor authentication wherever possible, particularly on important account related websites.

  3. Your primary email that you use for logging into your financial websites(broker, bank, exchanges) you absolutely must use 2 factor, and have the longest most complex password possible. This is where LastPass shines as it can auto-fill that password for you. If someone gets into your primary email they can reset your password all over the place and have access to everything. It actually is not a bad idea to use a separate email just for your secure accounts.

  4. If you do use LastPass, use a fairly long password and do not lose it as you cannot reset it like other places. Do not allow your browser to save this password and require re-logging periodically.

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another thing would be to not have all your coins at the exchange but transfer them to your own wallet(s)

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Thanks for all the tips.. Yeah Im pretty tough on security measures now.. basically everything sensitive is kept offline.. and my paswords are rediculous, and i 2 factor everything.. thanks for the advice, I agree whole heartedly..

Hi luc ! thanks again for everything
I know you covered something similar in a video but I have to ask
In the chart I uploaded I drew some bases .. but since there are no close bases more than the left far one .. in this case can I consider it a base ? or it was too far and should be ignored?

Thanks again .. appreciate all your help in the videos and replies :)

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Nope, sorry, that is not a base in my books.. you have to actually wait for ETH to pull back and form a base and then bounce hard off that base to give you a current understanding of where the crowd supports the price.. and it will soon, that was too fast of a tare

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Thanks a lot ! That's what I actually did .
But I think I made another different mistake .. which happened to me before.
I bought when it broke the new base,but it didn't bounce that hard.. what do you suggest next? to wait more ?(days) or to accept this loss and get on with a different trade ..
When should we accept the loss and move on ?(I mean in time)

Again I really appreciate your efforts here .. and sorry if my questions are so intuitive but I'm still new :)

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sorry I cannot get to these questions very fast.. I just have so much going on.. hopefully on those trades you got in small positions, because thats not too far from the base when you started buying.. not much profit back to the base.. However in this case you will have made a great trade possibly because the ETH price is now 235

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i sold at ~220$ , I'm trying to make 10% on each position...
sometimes im afraid to hold for more than 1 day

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I wouldnt set a goal like 10%.. i just trade the chart.. get out on the bounce a little at a time.. every positive trade is a good trade.. some will be 5% others will be 50%... it all depends what the chart tells you to do

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After all I held my position and soll of for a profit of about 10% (Thanks to you).
But then again sometimes it may not come back , and I'm really still confused sometimes if to take a loss, or to wait .. or even if to sell where I sold or to wait more ..

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Any profit is good profit

Hope you're feeling better and thank you for your all posts/videos. I'm learning a lot.

I had a question in regards to you trading newly listed coins and/or IOUs. In all of your videos you preach looking at a minimum of about 2 months to determine the probability of a trade, however, with these newly listed coins there isn't enough data yet to fully analyze and get a feel of public sentiment. How do you go about trading these types of coins?

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You need as much data as you can get, to get a story for what your probabilities are.. so if you dont have much data then you have to keep you trades small.. greater risk=less size trades

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Thank you for the response, Luc. Could you describe your setup as far as dual+ monitors, best way to view the charts, any particular settings/features you use? I'm struggling with setting up the charts for viewing. When I try to zoom out to view the larger picture (1-2 months) I have a hard time finding the true bases because everything is so condensed and I can't really make out things as clearly so I'm constantly zooming in out of habit. I can't help it and every time I try to adjust the chart it always gets jacked up and moves all over the place and I lose my position. What's the best way to view everything simply? I feel really stupid not being able to easily scroll through and view a chart so I can implement your methods but it gets messed up every time. Maybe my settings are too sensitive. I don't know but it's driving me crazy that I can't even look at a chart right. Any tips to make this easier would be greatly appreciated. Thanks.

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Yeah, i can understand that.. size does matter, in this regard.. I work with 5 monitors, 4 of them are larger than 40" and one regular size 24" .. so I have all the screen space I could want.. but if your on a laptop it can be challenging.. perhaps you might have an easier time with Tradingview.com :

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That is a lot of space, that's like watching on 4 tv's haha. Yeah, I wouldn't do this on my laptop. I have a desktop with a dual monitor setup both 24" screens. With only having 2, what do you recommend is the best way for viewing and drawing my bases? Maybe I need to practice more get used to moving around the charts first. I don't know why I'm making this more difficult than it needs to be.

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I have a Macbook Air 13 inch screen. At the office I connect up to my 27 inch monitor and its just fine, but oftentimes I end up at home having to chart bases on my Macbook, its a bit of a pain but I've gotten used to it.

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I'm rewatching all the videos again. I think I'm still not confident in determining what's a true base and if the chart/coin is a good fit for the method. I kind of binged watched them all in a row and understood what Luc was teaching but I don't think I gave myself enough time to really digest the information. Hoping the refreshers will help.

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yeah, its pretty hard for me to advise you on setting up your screen space.. but you do need to see those charts clearly, so I hope you mess around with the charts until they are able to be scrolled out futher..

Could you do this lucs method upside down. I mean I just tested it with bitfinex eth/usd chart randomly and when things move up after huge move down it tends to come back to the previous base. Its bit hard to figure first but seems to be accurate in various spots. So you should basicly start selling your ethereum in these spots or use margin trading shorting. What do you think?

All those upper supports, if it had broken them it would have came back. I used the min 10% bounce down in this example

Not sure how this shorting works, does it have leverage or can you short without leverage, at least you have to pay interest.

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You would need margin to short... but yes a very good coin like ETH will work in both directions..

Very I interesting ideas. I will try to put some of these trading tips to use and report back! Appreciate your work on this.

The trade I made yesterday

Is there any way to avoid this/see it coming?

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nope, there really is no way to predict that volume buying.. you would have to be aware of the pump, and were its being pumped from.. or the news that might have come out (like it was added to another major exchange or something big)

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thanks for making me feel better about missing the 200% trade ^^

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' May I sell here? a little bit above buy.Sure, totally fine :)'
-----luc

Hi Luc,
I appreciate your time and effort giving us your advice.
After watching this video I bought some PDC and set an alert. However, when it spiked today my alert didn't go off and is still in place. Why do you think this is? Is it to do with the voume? Any tips as to how I can catch that next spike? Thanks

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that is strange.. your alerts should not skip.. I always get mine

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@boffatron i'm not sure if you have a paid sub to Coinigy, but they'll send you text messages for your alerts....also you get the alerts sent to your email for free without the paid sub.

Thank you Luc for sharing your experiences! I'm new to trading and I already made some mistakes (no big deal, i can afford 20$ mistakes). But I'm super happy to see a professional in action so I can learn a little bit faster about good habits and mindset.

Hey Luc, do you reset bases every x day(s) or even multiple times per day and put in new buy orders removing older ones? And what would be the criteria to do so?

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You should watch some of my videos, bases are determined off a monthly or 2 month chart with 1hr candles.. So i dont draw in new bases every day.. maybe every few days when i see a good bounce..

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I watched several already, time to watch them again :). I thought maybe after you sell a position you would set a new base, based on new data.

made this trade today: https://www.coinigy.com/s/i/5970b73822da4/

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yup, exactly, great trade and now you should consider that there is now a new base under that green entry .. awesome trade tho

Thanks so much for all the calm and measured advice, it is fresh air compared to many of the crypto "voices"! I have been implementing your advice with some success, but wanted to share the "one that got away" today.
40% move, my buy was set just a little too low - i used the previous drops as a guide (white dashed lines).
Is it better to get in stages on the way down to avoid this in future or are these just things that happen :)

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yup.. in the stockmarket I avoid layering because of the comissions.. but here, that isnt a consideration, so thats how i often trade is getting small parts at a time as it falls, then if it decided to turn up, atleast I have a small position to profit from...

Great video Luc, I have a question regarding keeping track of all the trades. What's your way of keeping track of all the percentages and money you made of all your trades? Just pen and paper or a particular software?

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I havnt found an effective way to add up my day yet.. for me its only pen and paper so far..

Hello Luc, thanks for your awesome tips you share with us. I just watched your whole new YT channel and I want to test my new knowledge.

I'm long term holder of STRATIS, so I wanted to try this base trading on my favourite coin. I know there are no that big swings (most of them are like 5 to 10%) but may I ask you if I understood bases correctly and marked them right?

http://imgur.com/a/5u6zP

Also how you find good coin swings? You just look at coinmarket.com, coinigy etc., and check 24h% change? And than you starting analyse these coins which made it to the second round? :)
Thank you!

#QuickFingersAreBetterThanLittleFinger

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In my opinion your chart is too small.. you need a bigger picture to draw in effective bases.. yours may work out, on that small timeframe, but you would have to find run the odds on that small timeframe and make small percentages for alot of extra risk.. Thats why I use bigger timeframes :
then the bases are clear and work well..
As far as finding trades go: just pick a bunch of coins you are interested in, that you like the charts, and set up alerts on all of them, under there bases.. and sit back and wait for the alerts.. the more you set, the more often you will get alerted.. dont set too many or you won't get any sleep

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Yes, the chart is small (MacBooK 13" is pain, I envy you your wide monitors) thank you for advice! I was just trying if I understand your way of trading and I did couple of 5-6% quick trades.

Finding trades: Yes I though you do this in bigger way. Also for me its limited, because I have like only Bitfinex and Poloniex account, but I will add soon more, to get bigger chance to get these trades.

So your morning, evening (some time of the day) looks like you check all exchanges you participate, rewrite bases(on mind) and than set new alarms, and than just wait? And when coin became like 7-10% profit you keep closer eye on it? Because in my hight volume coins I find mostly like 3-6% swings...

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yup, that how i do it.. set my alarms and sit back

My first buy using your strategy! I've got more in the tank if it drops lower :)
I'm going to go through and upvote every one of your posts I can find hahaha. Super grateful for your knowledge, mate!

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Success!! Cheeky 11%!

I hope ETH keeps dipping hahaha, now I'm just drawing bases like a madman!

Hey Luc, I was wondering if you could share how you look up news on a coin. Today, my alert for EDG went off at .00017 for EDG/BTC on BTRX and it was a huge spike down (-30% at the time of the notification and eventually down to -50%) I wanted to buy some but was afraid there was some really bad news that caused the sudden drop. I tried to google things like "EDG News" but couldn't find anything and eventually just decided to not buy any since I have a small account. Any suggestions would be greatly appreciated! Thanks again for all your help!

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Edgeless and a couple of other ICO's had their ETH stolen today from a vulnerability that was found in Parity wallets version 1.5 and higher. About $30MM was stolen from these wallets. I'm not sure where this will put edgeless in terms of moving forward but this is definitely a huge blow for them if they're out of funds.

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Oh man I'm so jealous! I woke up about 2 hours after the massive dive and missed the really low buying opportunities :(

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Nice trade!!!

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trade.PNG

I got some of That drop too!! = ) I got 30% on that trade

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Otherwise I was thinking exactly as you, but also didn't find any decent bad news.
@earlybirdspecial: where did you found these "stolen" news?

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@lowtohigh It was all over twitter while it happened. I'm sure you can google it now and see edgeless funds stolen or multi-sig parity wallet hacked and get more details.

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I dont have a good source for you.. I really wish i did.. I end up scrambling like everyone, trying to find out what happened.. i missed EDG 11s bounce to 18s if i remember right.. I missed because I was trading swt, what a drop.. and then later bounced right back up from 27s to 85s .. unreal.. i made a little, but not anything like i could have if i held a bit

Hey Luc...did you see the huge panic sell on BAT/BTC? I made some nice profit off of this.

BAT_BTC.png

https://www.coinigy.com/s/i/597004a84eb8d/

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Nice trade! I was in there too :) lol keep em commin!

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Niceeee 👏 It's time to make 💰💰💰

Would it be possible to maybe give us homework? Say, Luc's top 5 coins/charts to look into. You don't have to tell us where the bases are or anything like that, but just the names of them and then we can do our own work within in them and maybe post our results to see if we are identifying the bases correctly and if anyone does a buy/sell they can show off their trades.

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I like this idea!

Made my first trade yesterday with a 6% profit but man that was exciting :)

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Its a nice idea, but that would encourage alot of replies, and I really dont have time for all that.. homework for you is more work for me.. and I need to be trading

Hi Luc, is there a minimum percentage you want to earn from each trade?