Thanks for the video Luc - agree with a lot of it although weekly macd
still looks useful on a long term basis though not for swing trading over
days/weeks. I liked the walk through of the recent base cracking at 4000,
after btc fell from 5000, followed by the panic down to 3000 - a good demo
of the strategy. My question is how strong should you expect the rebound
after the panic? I bought at 3200 but thought the chart was struggling to
make progress after a couple of days - bouncing around at 3600 - 3700
so sold but its now 4300. Does your strategy expect a strong rebound
usually back to the cracked base of 4000 - and this is a good place to sell?
RE: Let's discuss why I Do Not use indicators
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Let's discuss why I Do Not use indicators
The panic results in a bounce.. thats the method, I am buying panics because that is unreasonable prices. Anywhere you sell in profit is good. There is no way to know how far a rebound will go, but a good rule of thumb is it usually atleast returns to the base crack that caused the panic. However, it can easily keep going past that also. We cannot predict the future, all we can do is buy unreasonable prices and sell more reasonable ones. If you do that, your account will only grow. That is the secret to turning your account into a small fortune, only buy in those safe circles, and you will win win win..
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Ok so with luck it will return to the base crack and maybe further but as you say there are no guarantee's only that we should be holding a coin at 'cheap' price.
Is the panic selling after a base crack the main strategy or are you also looking for the breakout's from a base. For instance when BTC first got near to 3000 it was 'channeling' in a narrow range for several days below 3000 before finally breaking out and moving forward. This looks a bit like an inverse of a base crack but in the opposite direction - is this a strategy you are also following - so buying when it pops above what looks like a base?
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no.. I do not buy break out ever.. My trades have very very high odds and I dont use stop losses, so break out trading is for others, who dont mind being wrong a lot..
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I've had a quick look back over the year - I think there are around 6 BTC panic's since the start of 2017 - so would you say there have been 6 opportunities to use your strategy?
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There has been many opportunities, I trade all the major coins with size and all the alts with small positions.. Looking at BTC is the tip of the iceberg
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