As I do regularly on Elliotwavetrader.net (EWT), I wanted to share my current crypto holdings. Note, this doesn't separate long term and short term trades. And, some of these holdings are juiced via leverage. For those that don't know me, this is based on my view using the Elliot Wave Theory. I try to lean heavy in the 'big caps' as long as their wave structure remains bullish. However, we are getting a lot of 'uber bullish' third waves in the smaller alts and tokens. So, I'm sprinkling a few dollars into those. It hasn't taken much as many know. We've had quite a few 2X and 3X'ers on EWT. I'll try to start posting more charts on those alts. I can rebalance at any time based on short term trade setups.
Holdings:
ARDR 5%
BTC 16%
ETH 29%
FCT 2%
LTC 7%
NXT 5%
SJCX 2%
XLM 5%
XEM 5%
ZEC 4%
Ripple 3%
Stratis 2%
ETC 9%
XMR 4%
A reference on how I trade: https://steemit.com/cryptocurrency/@wildtrader/how-i-trade-cryptos-using-elliot-wave-theory
Disclaimer:
Trading crytpos is like swimming with sharks. These are unregulated markets. While I'm providing some analysis, the risk is all yours. You can get hacked, raided, and scalped. These markets can be thin and predators lurk. Do not put any money in cryptos than you can't afford to lose. Always use two factor authentication on your accounts. And, regularly take profits out and trade something else.
ETH: 0x214100463968649031A9D6E6A6C5B9aDdE540e29
BTC: 14Y4V2hFUKzQZe3rVJ8cTphv583FiRvgqS
Great-looking portfolio.
Will have to study mine and share, too...I'm more of a long-term buy-and-hold guy than a "wave trader," but there's certainly something to your method.
So I'll check out the tools you've shared.
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Wave's are fractals which means the five wave impulse breaks down into smaller 5 waves at wave 1,3,and 5, so you literally can see when a major bull market is ending and turns into bull market. Or, you can trade the 5m. fractals if you are a day trader. You just trade the waves appropriate to your timeframe that you prefer. Those that traded ETH with me, know I got out around $16 (a little late) because it had confirmed a 'bear market' and thus avoided the move to $5.92. I forget exactly where I got into ETH, but started longs around 9 or $10. I'd have to look. Point is Elliot Wave should still be useful to you.
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If you want to see a view of a long term fractal and a short term fractal in play, see my ETC post just made. We have the i-ii waves in place on the hourly chart but are in the 5th of a larger third wave on the daily timeframe.
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I didn't see steem on there.
Aside from that, this can be read as how much confidence you have in each coin. With ETH being the winner even over the community standard of Bitcoin. Any reason why that is?
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Whoops. I do have 2% STEEM. That was a typo. Regarding ETH, we are in a bullish setup with a target of $128 roughly. This is also a key long term target. The folks at Elliot Wave Trader know that I've been talking about $120's since we were in the $40's. And, I'm confident in this number unless we break $70. I trade key levels that show up via Elliot Wave analysis. I am confident in the method as a means to make returns, via tradings against key resistance and supports. And, therefore I am confident in Ether until it breaks. Does that help?
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I should add that Etherium is one of my leveraged short term trades and why it is so high. But if we start to look less bullish, I'll cut my leverage out and take my main holding down as well. That's how I trade!!!
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Kinda. I just read your post on Elliot wave trading and it sounds pretty involved. My understanding of your ETH position is 'the model I'm following has this much invested in it, so I invested that much.'
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Elliot Wave is involved, but it is the best method I've studied with respect to targets and stops which are critical to being a successful trader. It does take much study and experience. I'm not sure what you mean by 'the model has this much invested'. I am not following anyone on the trade. It simply has a bullish wave structure per elliot wave theory so I am in. The size is intuitive for sure. As long as over 70's. Below 70 starts to make targets like the high $20's likely though there are midterm targets that could come into play. I will cut this position when it reaches the $120's or if it breaks $70. That's how it works. I'm risking $18 for $40. Not amazing risk to reward, but workable.
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I'm obviously gonna have to read that book. It sounds really interesting.
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Once you read it, you'll see the structures in the market. But as I believe I said Prechter is a terrible trader. I learned how to use it on the EWT. (not a commercial as I pay to be there)
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I think I would like to see if I can get a neural network to recognise and follow it.
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Maybe it will be enabled by blockchain? LOL
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how do you buy crypto currencies? i have no clue how this stuff works, i hold metals at present (98%) im curious to know?
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The easiest way I know of in the US is to open a coinbase account so you can transfer funds, but the choices there are only bitcoin, litecoin, and Ether. But you can transfer these coins to sites like Kraken, Poloniex, or Bittrex to buy the others. Start simple with coinbase at first.
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ok, im in oz first but ill check it out, thank you for the reply.
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There are exchanges that work in just about every country. Here's a list for aus. https://www.buybitcoinworldwide.com/australia/
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