RE: The Happy Steem Trader episode #18 .. Steem's price spiked and I made a killing today
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 :)