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RE: The Coinigy Market Scanner will be a game changer
Hi Luc,
First of all , great training blog and YouTube vids.
I'm a new crypto trader from Australia.
Question:
I'm hesitating on the crack of bases because the price only just passes it - What's your advice on the perfect spot to get in, are there visual queues or spikes in volume?
I have hesitated on many trades in the last day because it has only just passed my alert on the base.
What's the perfect criteria that gets you into a trade - do you wait for it to pass your base by a distance?
Yup.. I want the crack of the base and then a panic drop for me to get in.. the crowd has to panic as a result of the crack.. thats the best situation.. but if you feel your missing alot of trades, then get involved anyway, just buy small and enjoy the trade.. if it bounces you make a little..and if it panic drops, then you get to buy in for real.. win win
It might be helpful for others to know that I've jumped in putting $20 to $40 at risk at a time. It's just dipping your toe in the water. Some have worked out great, others, I'm still waiting. So, I'm only making a couple of bucks, every experience is a learning tool. As I get more proficient with The Luc Technique I'll scale up. These conversations are invaluable. Thanks for everyone's contribution!
thats the best way... better than paper trading, best to have some money at risk, even just a little.. but before you know it you might be surprised how fast your tiny account can grow
These small volatile coins are amazing! Did a 44% percent trade today, could have done it twice but I accidentally set the sell order wrong so I missed the first spike, but got the second. I'm just using small amounts of money now, just to get some confidence but so far so good! I am starting to feel like mastering this little game is really going to change my life! God Bless you Luc!
I remember that excitement, when I made those first few awesome trade.. and guess what it just keeps getting better.. sometimes I just sit back at the end of a day and shake my head in disbelief that I made this awesome trade, but until now I just never shared it.. Thanks for the chart and congrats..
Its such a beautiful feeling! I am loving every second of this! Can't thank you enough! Another little chart from today.
Not Luc, but I can try to explain. He buys panic drops, which usually means a few red candles on a hourly chart. I am not sure how I would classify minimal cracks of the base, but almost certainly those aren't worth buying(For this method). Look at 10% drop as a minimum or so. SHIFT click in coinigy.
In the most basic form if I understood correctly:
You could and probably should layer in buys and sells, but there are no strict rules.
Thanks for your input, let's see if Luc has anything to add.