"But as soon as the market starts turning bearish again, I know Ill be making videos trying to save traders butts.."
Hmm can you explain this further? Won't bases be respected in a bearish market?
RE: Yesterday's Poll: "Are you profitable for the last 30 days (if using Luc's method) ?" "Yes" "No"
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Yesterday's Poll: "Are you profitable for the last 30 days (if using Luc's method) ?" "Yes" "No"
Ofcourse bases will be respected.. thats my point.. in a bull market, everyone is making money regardless of what strategy they are using, but in a bearish market I make tons of trades and grow my account, while others are losing money.. So I will be making more videos, trying to help all the traders out there in the world who are searching for a solid trading method.
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Thanks for your answer. I just needed to hear "of course bases will be respected... that's my point..." from the man himself even though you repeat it in every video ;)
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I hate bothering u personally Luc, but I think that recently I developed a different opinion on base trading than most people in the slack...so I'd appreciate it if u looked over few charts(now all coins seem to be falling due to BTC, this assumes normal circumstances):
For example, this seems like a totally fine position trade to take...The base was retested, but it did not weaken completely, there was a sharp turn down, then the price kept retouching the base after a minimal drop, then finally went down and sideways. I do not think that either of these things disquality this as a proper position trade, but maybe I am wrong.
And similarly TRIG
Basically, what I am asking is if a panic is a neccessary component in position trading I guess. Until now I thought it simply meant that the reaction will be better in terms of % and time, but whenever I see a base break it is tradeable in a longer timeframe(until an avg bounce from an avg drop happens, at least).
If not, then most of the trades I take(i look for 10% profit at least) are more akin to daytrading small drops, and all base breaks without a violent reaction would have to be ignored from a position trading perspective. It would also cut the number of trades by 90% i guess.
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