Its pretty slow on the market today, so I took 20mins out of my day to make a video and just go over my recent trades. We will draw out some bases, and talk over where I bought and what I was thinking. Also I will explain why I sold a little BTC at $3,500..
I am not making as many videos lately because I have outlined my method quite clearly in previous videos. So I want to post new videos only when I have some urgent quality content to share. But if you would like some more of these "mark up charts together" type of videos, just let me know.. I realize that since I cannot give everyone one on one time with me, it sometimes helps to see me talk about charts, so that you can easily understand how I trade.
Luc
Great scroll through, I've been doing the same on coinigy the last few days to find good trading coins. It helps to get someone else's perspective and process on it.
DGD looks very nice, must have missed it.
As for other trading coins, check out FUN.
Some nice ranges, a breakout and then bounce off the previous range - (kinda like a cracked base in reverse?)
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I see that you're making lots of great trades! Good work man. I'm curious at how you come to those positions though, you're defying Luc's Law, yet profiting immensely!
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I'm range trading, if you see my first sell the markets had already established a logical up/down range so I played off that. It then had a huge upside pump and I bought back around where it broke out from and then sold where price was a little congested.
If you flip the chart upside down, I Imagine Luc would have seen the are to the left (my first trades) as a base and would been buying the spike (lower) to exit on a pullback to the breakout point (where I bought).
I've had a few broken base trades, slowly adding it into my trading toolbox.
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Dude, thanks! Loved seeing these examples, they're giving me a much clearer picture.
Got a couple questions!
Again, thanks for your vids. They're by far the simplest and most accessible I've found on the subject, which is exactly what I was looking for.
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You always wan to blend in with the market.. so you have to watch the time and sales and see what kind of trades are usual, then make orders that wont stand out on level two... As far as the layering into a trade goes, When a base cracks and I really like the coin, I often take a nibble after the first little bit of panic... but then if a real panic happens, I will buy bigger and bigger with each buy.. always keeping an eye on your average position, so you know your break even point.. then you can start selling whenever you are in the profit.. Depending on the volume behind the bounce, I will take a quick profit or I will wait for it higher prices... Once im safely in profit, then I make those decisions based off how volume is coming in
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Hi Luc, thanks for all this!
Assuming liquidity wasn't a problem, how much then? Would you start with 5% of the 1 bitcoin, 10%? What about the last one where you "get in big" what sort of percentage of the 1 bitcoin would that be?
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Of the one bitcoin? Im sorry, i don't understand the question.. I dont have set % for buying in.. Its not mathematical for me.. I look at the time and sales and level2 to see whats normal, and then I start putting in orders all the way down the bid.. a little here and there, and then I watch how the coin drops.. if it drops fast, then pauses, I might buy a large chunk all at once.. if it takes its time and doesnt show evidence of real panic selling, then I will keep my orders small...
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You are really great. Thanks for teaching us all this stuff in detail. I didnt know that you also analyse how fast the price is falling. Maybe I missed this in your videos, even if I have watched them several times.
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Hi Luc, Thanks again for your time and patience. I know these questions are coming thick and fast.
I suspect that many of us with small accounts often don't have a problem with trading too big for the market. It's more of a question of "how much of my account should I trade?"
Would definitely like to hear more about what influences your sizing.
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Hey Luc,
I'd like to thank you for helping this community. You personally helped me grow my account by over 25% in the last 25 days :)
I have a question though. When you say you look at the time and sales, what do you mean? How does the level 2 data impact your decision on buys beyond your base-breaking strategy?
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join the facebook group..we are posting our trades after we finished, and also as we trade live
https://www.facebook.com/groups/1064955490307688/
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@omri1181 is that group still active? I made a request a while back and it is still showing as pending.. Thanks
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glad to have you here man
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Thanks, and thank you for your support. Having your upvote draws more eyes to my blog, much appreciated.
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More "mark up charts together" videos please! Its great to see new trades that you do and stories of how the chart reacts so we can hear how you are going about it. Maybe make that into a mini-series so people know what to expect and label your other new videos differently. Especially how everything is reacting after all the FUD/BCC at the beginning of the month.
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upvote my posts
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downvoted
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I think people might find this interesting. I would really advise to read it:
https://hackernoon.com/meet-spoofy-how-a-single-entity-dominates-the-price-of-bitcoin-39c711d28eb4
Also quite worrying info about Tether (USDT):
https://hackernoon.com/the-curious-tale-of-tethers-6b0031eead87
Luc, maybe you could comment on this.
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Since I am almost always holding USDT, I better do some extra research on this subject. I didnt realize that USDT might expose me to additional risk.. Hopefully some here reading your post will chime in with some insight into this subject.
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I don't really know much about this subject, but why don't you use GDAX instead to trade between USD and BTC or ETH? GDAX doesn't use tether, and i hate the idea of assuming tether has 1to1 value with USD
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maybe because Bittrex has many more altcoin pairs to trade but yes, GDAX would be an option if you want to trade only BTC, ETH or LTC.
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you're right, i didn't consider that there are more usdt to altcoins to trade with on Bittrex. bleh....just use btcs or eth to trade those :)
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The ALT/USDT pairings are rather new on Bittrex, the markets are not yet mature. Its safer to trade ETH or BTC pairings with ALT coins at this stage - but that may change over time.
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This is a very good idea, I don't know why I didn't think of this sooner. Great advice @oneluckyflip!. I'm mostly concerned that USDT's backing is via Bitfinex since they have ben fined by the Commodities Futures Trading Commission. That explains a lot about Tether and Bitfinex's banking issues, ironically the trading community is worried that Poloniex is insolvent when to me the real issue is the USDOJ could close the doors of Bitfinex for good.
@quickfingersluc - if you need help making content, you can turn to @oneluckyflip or myself for some help. We are both very active in the [QuickfingersTraders Slack] (https://quickfingerstraders.slack.com) and have insight into what the beginner crypto trader is struggling with. Send either of us a DM via Slack if you like this idea.
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How can I get an invitation into this slack group @tizzle ?
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You don't need an invite, it's open to all of @quickfingersluc followers.
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@tizzle I'm trying to join the slack group and it sais: "Contact the team administrator for an invitation" can you help?
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https://join.slack.com/t/quickfingerstraders/shared_invite/MjIyNDkzMDk4MzU4LTE1MDE3NTM5ODctOTA0NTNiZTc1OQ <- Slack Group
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I also tried to join the slack group and says "Contact the team administrator for an invitation".
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See above :-)
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https://join.slack.com/t/quickfingerstraders/shared_invite/MjIyNDkzMDk4MzU4LTE1MDE3NTM5ODctOTA0NTNiZTc1OQ <--- try this link for the QuickFingersTraders Slack!
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Luc, one question. Why do you not short on those spikes. You seem to know exactly where they are? Chris Dunn mentioned he made 70% of his profits initially by shorting.
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I really don't want to complicate this trading method for everyone trying to learn how i trade.. I like to keep it simple, because I make plenty from just taking long positions.. However you can trade both directions effectively.. I dont think it makes much sense to focus on shorting in a bull market, but it can be just as profitable.. I however dont short cryptos, but I do ocationally sell spikes (with my free coins), and rebuy my core position after it settles down..
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Thanks Luc!
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I think I can chime in here - Luc is taking the other side because there are a lot of panic sellers in the markets, the 'edge' is that they will overreact and the bulls will buy back to the area that the price cracked from.
You're trading against less experienced traders when you buy from them. The other way round, you have no idea if a base will break and you're trading against the guys who keep buying up coins that drop.
Two very different games.
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Luc,
Thanks for your videos - they are a revelation and very informational.
I have some questions:
What is the optimal amount of time to wait after the bounce to allow the bounce to fully develop and reach the top?
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I don't know where you've seen it, but Luc says he likes to participate in each bounce, so he should have some sells there. It's true that it frees up the capital, but there aren't that many opportunities in position trading, I don't think it's a problem for him.
There is no set time, it can be fast, it can be a few days, or a week.
I don't think he has set percentages. He mentioned that he layers in the sells in profit, as well as sometimes leaving 20% of profits to run after the trade.
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@quickfingersluc Hey luc ,
What do you think about ETH/STEEM (POLONIEX) ? it seems to not getting a bounce I guess.. also the volume there is lower than before.
I haven't been making trades of your method lately , maybe because it's now a bullish market ? and less bases are getting broken ..
Are there any methods for when the market become bullish?
Thanks again for everything :) !
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Love your videos look! Religious follower here. Quick thought.. Does showing this method help you in any way? I mean, the more people using this method, the more people that buy in when the chart dips and that would cause the market line to bounce up allowing those that use this method to sell high. Is this accurate? Could having others use your method actually benefit you and them? I'm new to trading but it seems like this would be beneficial for those using this method as opposed to those that use those crazy graphs and TA.
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Hey luc!
Love your stuff. Honestly I would love whatever content you'd care to share, whether it's "mark up charts together" videos or just simple vlogs where you say "hey, check out this awesome market day today! here's what I did. how did you guys do?"
-Jason
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@OriginalWorks Mention Bot activated by @steemitboard. The @OriginalWorks bot has determined this post by @quickfingersluc to be original material and upvoted it!
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Thanks Luc for teaching me, how to do gardening ;). I am forever grateful for your kindness. God bless you.
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Hello Luc,
Loving your videos! They are very helpful, and for the first time in months I see my portfolio slowly growing because of ME and not market just increasing!
Your videos are very honest and to the point, never change!
I am starting to learn how to read the charts and want to improve and add to the community, hopefully Luc or other great people in the community can help me out with my charts! THanks, can't wait for other videos!
http://imgur.com/a/oeZAD
Sorry don't know how to ppost images yet.
So are my base saying its good to buy steem now ?
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To post image you have to download your image from coinigy on your computer.
Then go on http://postimg.org then upload the image. Get the png extension named as direct link.
Then come to steemit and post this code: 
And you will see your image uploaded on Steemit.
Cheers!
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Thanks a lot @cryptotradings ! Will try that out on my next chart.
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quick question, anyone can answer this..
I'am using BTC as my base coin, I want to start trading ETH, do I trade on ETH/BTC or ETH/USDT? Im guessing ETH/BTC but in what circumstance will I be able to trade on the USDT chart.
Sorry if its a super nooby question.
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if you don't own USDT then how you want to trade it?
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Can we please discuss adjusting our strategy to work in and around big whales @quickfingersluc? I just started nibbling at ETC/ETH close to 20% below the base when a massive whale appeared attempting to buy up 1370ETH worth of GNT. Will this whale kill the ability of the market to rebound making it possibly unprofitable to flip, or will this whale actually help the rebound? What occurs in the market as the whale adjusts his prices up or down?
PS: The slack group misses you, come back soon to say hi!
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I am happy about having slack and steemit and lucky luc and tizzle to moderate slack but I think its best luc puts what ever free time he has into steemit as its a good place for us to pick his brain further and Lucs following is ever growing as is crypto currency trading.
I applaud you for taking on the responsibility of moderating the slack tizzle because its a nice community of lads and ladies to talk about our daily trades and its well laid out with separate threads :)
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I don't expect Luc to be a frequent contributor to the Slack, but he has already stopped in to visit. It was nice that he said hello, good motivation for the team!
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Hi Luc, have you ever played around with leverage? If so, what has been your experience/thoughts on it? I know most of us are newbs and leverage is more risk but I am curious about your thoughts on it. Thanks
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In the stock market I have margin accounts, which gives me 3:1 leverage, and allows me to short if I want.. And I do occasionally short, but I never use the leverage, I always have only traded with my own size account. I would hate to be margin called, and have my broker close positions on me. I prefer to trade my money, why be in a rush to trade big? With 10-50% gains on most trades, you will be big in no time, there is no need to up your risk prematurely.
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I just made a nice day trade that I was excited about and wanted to share. Thanks all to you, Luc!
5-minute bars. I had the bittrex exchange page also open to compensate for the coinigy delay, which is the only reason I was able to determine the top.
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wow beautiful percentages.. very nice trade :)
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Hi luc!, what is your opinion about gbyte?, i buy at 0.118
but the rebound does not appear.
https://www.coinigy.com/main/markets/BTRX/GBYTE/BTC
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GBYTE has a perfect chart.. it cracked its last base at .14 and dis that with an obvious panic all the way down to .10 which is psychological support. You cannot ask for an easier, more perfect trade.. and you got in at .118 which is great, right in the safe circle.. then there was a bounce back to .14 as you might expect.. and now its trailing back down to test the new .10 base it formed...
That initial reaction bounce from .10 to .14 was 40% but I would not be surprised to see this bounce again back to the .16 or .18 area, since there was alot of buying interest up there.. but if it cracks .10, there will be a major panic, and a great opportunity for us, so im setting my alerts for the .06s and below
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so there's no base at 15? Also it seems we should use a margin of error for bounces of few percents, cause I often see bounces where it stops right before the base or a bit lower.
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yup, i agree.. 15 also looks like a base.. that was a big surprise when it dropped through those prices, and thats why there was a great panic to .10.. likely we will still see a bigger bounce coming
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But the bounce has not come back to the base and from your video, you say that if it doesn't then it's not following the pattern so it's time to get out?
https://www.coinigy.com/s/i/598c730e6a649
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You should go rewatch the video..
First it did bounce back, the base is debateable, its 14ish, there is no exact numbers here.. thats not how it works.. You cannot just expect every bounce to get to an exact number and turn around.. you have a huge margin for profit on every trade.. in this case from .10 to .14 thats a 40% window where you can get in and make profit.. So in this case it did get pretty close to that .15, and still might bounce past it soon.
second, even if something bounces and missed its previous base by a few percent , that doesnt disqualify it, that would only be one error on the chart, and i need atleast 2 to disqualify it.
third, even if I do disqualify it, I dont sell at a loss, I just dont buy more.. I stop buying, and give it a chance to correct the error.. Some bounces do take longer to play out.
And in this case it will likely bounce again still because the chart shows a good history of buyers taking over and spiking the price..
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Hey Luc, thank you SO much for your videos and for sharing your strategies. YOU ROCK!!
Question: I've seen you mention reading "level 2" in comments below, what is that?
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Level 2 Data is the list of the recent trades, the bid list, and the ask list found i the right hand panel inside Coinigy. Hope this helps!
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Just had time to watch the video and it was great. Exactly what I wanted to see. I posted about maybe making a mini-series about talking over some trades and how the chart works which you already did. BUT if you are up for it you should record a day of trading and show us you placing buy orders in all the action that would make for a great video. Just forget you are recording and then do a voice over explaining what happened that would make a great video seeing it actually happen and your strategy live.
Please consider this but obviously do not show account info or amounts you are putting in.
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Luc stumbled upon your videos a few days ago while doing some research...your vids are gold! Thanks for the time and energy making these. Signed up and following!
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nice to have you on board :)
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Hi Luc!
Thank you for this new awesome article and video!
Your strategy makes total sense to me and makes me understand a lot more about how trading on these coins work :) funny that so manny decisions are made based on emotions haha.
I just had one quick question tho, what do you if you go long and the price gets lower and lower where you did not expect it. (eg you buy after a base cracks and the price drops big time but there is not a bounce within a week after this.) would you sell your position at a loss or just keep it hoping it will go back up?
Thank you!
With kind regards,
Enzo
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If you commit to the buy and it drops you should be managing your bankroll and buying as it drops all the while if something doesn't look right check the news on the coin through reddit and twitter and depending on if there bad news, keep your trade available for a pull out in the 10-20% loss region.
If you feel its just a late rebound or if the previous chart history shows similar drops and pullbacks then you could keep it in for the long haul and stay invested in that coin until it comes back for breakeven or 10% profit.
this would be my idea of trading in this situation which is a downfall and probably takes a good bit of experience reading charts to understand when you are in this situation. Luc might have better advice Im just trying to relay what i have learnt from Lucs videos but im still a novice trader
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I hope Luc still answers this question... But I'm betting he'll just say, "I participate in the next bounce."
I asked a similar question once, and his response was that he gets out on the next bounce, win or lose. But I also gather that most times, Luc likely just participates on next bounce. If you have a sensible way to layer your size in, you should rarely NEED to take losses.
Imo, this is all about managing your risk.
I layer in, in 1-2-4-8 type fashion. Where each of my expected panic distances get to a heavier size, and the TOTAL size/risk I will incur is decided before the trade is even put on. How you add size on the way down, tells you how much price needs to move to get back to Break-Even/Profit.
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Luc,
First of all, thanks for sharing your knowledge!! As a 'keep it simple' adept, I always asked myself if there is some simple trading strategy without the fibo, macd, bollinger, etc complexity.
One of the noblest life goals is change the people life. And you no doubt changed mine! Thanks a lot!
As you said that can post printscreens, I have a doubt with XRP/BTC base. I was expecting it to pump and return to base. But nothing happened until now. Can you help me?
https://imgsafe.org/image/4cba5da6fd
Again... thanks a lot!!!
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I like your chart.. here is a wider view
Ok first lets me say, there are obviously way way way more sellers on this coin than buyers, so I would not be too quick to be working this chart. I would have moved on to something where there is more buying evident..
But lets assume that you really want to make some free XRP coins and so you decided to take your chances this chart. Your odds are still very strong here.. Its has always respected its bases, even with all this crazy selling. I put an arrow to indicate a questionable base, I dont think the bounce was too great on that .00005, so the real base is still .000055 (in my opinion)... I would not be surprised to see a spike to that area, so set up your sells in advance.
All that being said, BTC might muscle your trade, because on top of all the organic selling that has been happening on this chart, there is also a BTC bull run still happening and causing more selling pressure for XRP.. So I dunno when it might pop for you, or if BTC will force it lower still .. its a hard call, but XRP has shown great respect for bases, so its still a pretty decent trade
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Hey Luc! You've mentioned that you would be pumping out vids regarding strategies for day traders to use, once the market scanner was released. Well, here we are! Can we expect these videos to be released soon?
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I hear you, and I know thats what many people want.. But teaching daytrading has always been a can of worms for me. I have been using the scanners, and I have been taking 1 trade out of 50 -100 alerts.. So you can see how picky I have to be with my crypto daytrades, this is mainly because we just don't have enough participation in the market yet.. were a little ahead of the curve, with the scanners.. I was hoping the scanners were going to give us tons of great trading opportunities, but this crypto market is not quite ready for daytrading. So if I start teaching people how I daytrade, it will be near impossible for new traders to not get hurt.. Im still thinking about whether I want to open that can of worms.. Im still using the scanners everyday, waiting for the market participation to pick up, but there are not enough trades for me to daytrade cryptos full time yet.
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I couldn't agree more. I've had some great success with day trading cryptos (visit my blog), but the level of difficulty is so much harder and the risk is so much greater. If a day trade fails, I usually have to sit on a coin for a couple of days to weeks just so I don't take a loss. The activity or volume is the main problem. Also the scanner will alert you of lots of false positives.
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Luc I have a question about the definition of "daytrade" being used here. Are you referring to the kind of madness you talk about where you are in and out of 3-4 trades in a single hour?
Do the low volume account building type charts/trades count as daytrading? You know the kind where you may get your bounce back in minutes to hours?
Or what about the lower volume coins that you take small positions that may pay in a day or two? I know for many of those charts you're playing the lows and the highs and not necessarily using bases like you do for long position trades right?
Sorry for so many questions, I just want to clarify what we are all exactly referring to when we say "daytrading".
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My definition of Daytrading is qualifed by the Volume of the move in compairison to the average volume:
The danger with daytrading is getting into those sudden pops, where it looks like its about to take off to the moon, and there is a bunch of big volume comin in and the price spikes. If you dont read that effectively, you will end up buying at or near the top of that spike and be stuck .. A few of these type trades will work out, but the rest will leave you buying coins at high prices and tying up all your capital, waiting and praying for another future spike to break even.
Then there is the droppers, where the price dives, and it looks like you caught a spike down from some fat finger player, only its news, and it keeps going lower, and you try to buy more, but now your stuck in with a higher average than you expected and it justs keep diving, and eventually you panic bail out, because it gets painful...
Thats daytrading, and if you can read the level 2 effectively and can find news fast, and let the panic happpen so that you enter on a pause in price.. and so on, then you can make great money, and its way more fun than I can express.. But in our present market, not only do we not have the tools needed to read the situation fast, but there are too few coins still to make datrading all day possible..
So I suggest we use our scanner to find the Small account building trades, and the low volume spike down trades, but avoid the few high volume daytrades that do show up often, because they are too dangerous for the inexperienced and unequipped. For now, but eventually we will be able to daytrade this market, and then trust me, we will dominate!!!
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I would really like to see more videos whether they are about marking up charts or even penny stocks, anything about trading really would be awesome ^^
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@quickfingersluc I've been trying to follow your recommendations (only started in the last week or so) but so far i seem to be picking coins to invest where once they break through support they seem to be falling off a cliff without recovering in the coming days, how do you determine which ones are safe? you say in some videos only the immediate history determines if theres a base, but what do you use to determine whether there are buyers that will prevent it from going way below the last support level?
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Great Post Luc!!
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Hi Luc, love your videos and ability to articulate your trades and mindset. Having way too much fun playing crypto with your method! As I'm trading I tend to write down questions, for myself or for researching etc. I would immensely value your input and know I might get relatively detailed depending on how lengthy you mind your questions/comments. Was wondering if this was the right spot to post something like that? Additionally, I feel like well drafted questions and answers could be valuable to others, and feel like it's possible there is a better medium for that interaction. Would love to go full autistic with someone who can keep up ;). Cheers!
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I do try to make my videos simple and clear to understand, because it really is not that complicated to trade profitably and make a ton of money. My method only requires that you see things a certain way and develop the patience to wait for a clear opportunity. Thats really all there is to it.. So feel free to post your questions, and I try to answer as many as I can, but please dont try to over-complicate it, because it is quite simple.. The chart tells a story, you learn to read the story, and you buy in where the chart tell you to, then you start selling when your in profit..
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Keep the charts coming!!! luc when you get a second can you write a paragraph of your strategy. I feel like I need to read something. Looking at the charts leaves me with some many questions... OR if you have some literature that you learned this strategy from so I can just read that a few times. Thanks.
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using steemit you can simply go to comments and read all my answers to everyones questions in one place.. that might answer some of your questions too
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Thanks again for a wonderful video showing your favourites. If you have time in future can you just make a separate video on Volume please? Also, if possible show a blocktrade on the 5 minutes charts, for us noobs to understand volume a little better. Also while doing position trades, do you ever look at level 2 to get into a good price? Thanks in advance.
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I always look at level 2 on every trade. It is not as important on a position trade, but still I always want to see if there is evidence of clear support forming, or if the price is trying to jump the bid or ask.. and so forth.
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Welldone luc! its look good to see you and your struggle
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great
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good
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Is there a telegram or discord group that anyone has made for discussing this strategy?
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Hi Luc! What I really really need to understand, way above anything else, is how to tell when a panic sell is over and the price is going to start going back up. Then I know when to buy at the bottom. In practise, when trading, I can see when it's cracked the base, but all the way down in the panic sell, it makes little bumps and pauses on its way down, so I think it's over, and buy, but then it keeps going down further! That means my profit isn't as high as it would be if I had a reliable way of identifying the bottom. Any ideas?
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I check previous panics and their depths and position based on that, if it goes lower then i buy close to next base in past that is lower...
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Fantastic video! :) Please, more of this "mark up charts together" type of videos. :)
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Hi Luc,
Nice tuts are you making, thank you very much for helping!
I have a few ideas for you: (what you did not cover )
i think you missed in first video intro about app itself. What does numbers in right part of screen means? For as who did not ever trade this way ,it matters.
What exchanges do you use? (what can you suggest?)
I suggest that you create some small acc and make one trade from start to finish and explain every step, it would be so much more clear. (i am focusing on app itself, not how to trade)
You mentioned that on some coins you can not invest too much because no one is selling that much. How can we check it? How to know that? Where o find this info?
Why you do not use Zcash as trading coin?
Thank you for your help, time and good will to teach us how to make money.
Thank you.
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Maybe you don't realize it but the end was pure gold and I really thought I knew your method by now.
(time stamp:20:20) "I don't qualify this as a base. So were still working off of this as your base"
I always thought once a base is cracked and comes right back up you have to work from that level. But it makes sense that you only do that if the bounce of the new base is strong which in this case it isn't.
Only thing that sucks is that you have to wait 10 days in this example for it to go back to the previous base ;)
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Hello sir. Thanks for all the tips. I was wondering if you could explain what it is you're looking at in the level 2 data. Thanks for all your work!
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Hi Luc, just wondering why you don't trade Dash. You mention that it's a beautiful chart, like ETH, so I would expect your method to work quite well. Is it because you don't believe in the tech behind it or any other reason?
Long time watcher, first time commenter so a big "thank you" is owed.
I've been getting into crypto since June and in my humble opinion, your videos are the most practical, no-nonsense, nor "looking-back" bullshit on the subject. Many thanks for your efforts. Much appreciated.
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Dash would be great for big Position trading , because it is well supported. I mainly make my big trades on ETH and BTC, and then small trades on all other coins with good charts. So far, I just have been treating Dash like all the other Alts, and not concidering taking bigger trades on it.. But there really is no reason not to use Dash for some larger trades..
Anyway, there is no reason in particular that I havnt been trading Dash, I just kept busy with all the other coins...
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I think, you don't use stop-loss. Is there any reason why you don't use it? For example; cvc is still rising up since yesterday. In this case; If we bought it yesterday, now we would make 170% profit from cvc.
Thanks in advance. I learned much from you.
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Thank you, Luc, for all you do to us!
If I've understood correctly, your strategy of buying dips is working almost only on bear markets, like ETH in July 2017. But how can we trade on bull market, like USD-BTC in April-May 2017 when dips are very small?
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Thanks for the breakdown -- I understood much of what you are describing. But what do u mean by 'building an account', or 'an Account building chart'?
My first exposure to Bitcoin was through an ebook I purchased via Amazon - so it was 1 of the first ebooks I ever read w/ my new #kindle ! What an eye-opener .. and an Education !
My goodness, it has been illuminating .. and quite a ride !
I see you like AMP (and feel it will return to it former glory). Guess you just
aren't feeling too "amped up" about it right now [sorry 4 the pun ].
But I did upvote your video post. Good quality #video ..and your voice comes across quite distinctly -
Will follow yr #News sessions some more.
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Oh sorry I meant to say "small account builder" .. in previous videos I explained that there are some low volume coins that dont have much participants trading them so they bounce around in ranges with huge percentage moves, back and forth. But because they are low volume you cannot take big size trades... So for small accounts there is a way to trade these and grow your small account very fast..
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Would be interested in hearing more about that.
I certainly grasp what You're saying with tiny coins/volume (& why one can only do smaller-sized trades ).
==> WOULD you consider Bitbay to be a "lower-volume" coin? (heard u discuss #Bitbay in the video ). Thank u ! P.S. I upvoted yr reply
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I think BAY should be traced off bases, I wouldnt be trading the ranges (like other low volume coins), it does have a very nice chart and respects its bases. I can see several big dips, that were bounced right back to previous base..
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I have luck with my small acount in MLN
What I do is look for a currency with many ups and downs in a short time. Then I place a purchase order near the minimum, when it is executed I place a sales order at the maximum.
I do not know if it's a method or I was just lucky
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For answering my ques, I thank you. Have a most rewarding day !
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Those are fun charts to trade
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Hi Luc,
Thanks for the videos. They are great. I was thinking, once the chart has cracked it's base, what if you wait for confirmation of the bounce, and then buy, instead of buying on the way down. Would that be a valid application of your strategy?
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In all his videos Luc mentions that he nibbles once the base is cracked and keeps on buying heavier as the price goes down. Then he layers his selling price accordingly.
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Hey luc, I'm brand new to your steem it page, and YouTube page. I've watched a few of your videos and I am already feeling much more confident. I do have a few questions as I am completely new to cryptocurrencies.
Thanks a lot for your time!
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BREAKING NEWS: BITFINEX TO BLOCK US CUSTOMERS
https://cointelegraph.com/news/breaking-news-bitfinex-fires-us-customers
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Oh my, thanks for letting us know.. That is big news...
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more pls luc! these are also awesome videos
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Het Luc, thanks so much for providing your gold mine of knowledge and experience. I have followed a large number of aparent 'traders' on youtube and got into information overload with conflicting opinions. With your methods I only see clarity, great probability and safety. As someone who is starting out with small accounts, PLEASE PLEASE PLEASE make a video just on day trading. Thanks for your continued support to this community.
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https://www.coinigy.com/s/i/598e3d09c81c1/
Hey Luc I was just wondering if i made a good a buyy here?
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Looks pretty good to me.. there is a clear base at 26s, but you did buy in a little early, since past drops were usually more like 10 points and you got in on a 4 point drop.. and there is only one error on the chart around the 7th of july.. so its pretty good odds.. Hopefully you have a little more BTC to get in a little lower as it falls, and who knows you might get a quick pop and take fast profits..
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ohhh wow, I see what you mean, thank you. Really appreciate it.
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yup, because of that error I'm stuck there since 7th of july lol
I missed the bounce :(
The good thing is that with your method I've been able to increase my account a lot since then, so that position size seems almost meaningless now :)
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Hi Great Luc!!!
@quickfingersluc
Sorry for the double post Luc since everyone missed my post I am posting here again..
I marked a base for XVG and guess what proving you are always correct it cracked the base on 9th August and bounced back.
I wasn't aware of this because I almost forgot to check and I marked that base on 2nd August at 11.25P.M GMT+5.30
It did bounce back but I have a doubt, Did I identify the base correctly? I don't take the very bottom of the dip I take sightly up before that where the price touched 2 or more times.
I also check for the same base in the past to see how many bumps it had.
Yellow is the base I drew and red is the lowest price of that dip.
Since now it bounced back up which point I should consider as the new base ?
White line (0.000000090) or Light blue line (0.00000093) ?
https://www.coinigy.com/s/i/5989fd5834334/
https://www.coinigy.com/s/i/5989fd8eaf75d/
Thank you Luc :-)
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Hi Luc,
Really good journey I have had with your strategy so far.
You have mentioned that you begin placing trades just before you see some support coming in.
I think that after seeing a base crack in a panic sell most of us would like to get in at the bottom but are finding it hard to "see the signs" or use Coinigy to its fullest.
Can you shed some light on this topic or perhaps do a video on it?
Thanks Luc.
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I bought this currency and it does not go up ... it should be because the bitcoin is very high ?, and as I buy using BTC the price of the other currencies is relative to the BTC.
PS: I should have bought below the base, but do not respect the system because that currency has many ups and downs, I do not know if I did wrong or I was just bad luck.
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Hi,
Luc mentions if you dont respect the currency and if bases cracked dont return back to the base - do not trade on it.
Looking at your trades - you are not buying at the right time... You are buying far to early.
You have not identified the correct bases.
There is a clear base at .00013 , and you took the trade right away, the base hadn't even cracked yet? You needed to wait for big red candles going downward in a panic sell. Near the bottom there - I do not see any panic sells compared to the rest of the chart.
Go back and watch Luc's videos again. Take the time to go over it again ... It's worth it, I'm making money.
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Hi there Luc,
First, thanks a lot for helping us out! Really warms the heart when someone just does good things to help, all the best karma to you!
Now, I was wondering why my trades through coinigy with liqui are so slow to go through. I don't know if it's only liqui since I've only made trades on that exchange today. Is this normal or something wrong with my acc?
Best,
Ástþór
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Thanks for video, Luc.
You told that you love panics, but how do you know when the panic is finished?
And I also vote for "mark up charts together" content.
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timing the bottom of a panic is pretty hard to do. Sometimes you will see some huge volume come in and stop the fall, I will always buy when this happens. But other times it falls to a low price and then turns up so fast that there is no time to react, so I simply buy whenever I see obvious panic selling below a base and I dont even try to time the bottom... However If I see clear support come in and maybe some stuffing, then I quickly add to my position.
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How do you see volume is coming? Do you just check the amounts of trades at that time or do you check the amount of next limit buy orders?
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Do you use coinigy for that? It has been failing me lots. Failing to place order to cancel almost every single time!
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it depends which exchange your linked to.. I found that Poloniex was the worst to link to Coinigy.. all ordes would fail all the time.. Bittrex hasnt given me any trouble
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I believe the opposite is true now, they really improved their API association with Poloniex, but they need to do some direct polling to support Bittrex. Coinigy advises us to refresh after every trade I place or cancel with Bittrex, but they also say that they are testing a solution to this problem very soon. This should also allow us to import Bittrex history that wasn't tracked by Coinigy - in a week or so this problem might be history!
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Thank you for another great video!
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Hey Luc - first thanks for all your videos!
I had followed your tip on PDC a while back and made some nice trades! Would like to know if you have any more .. :D
(PS i would show you the trades but i dont know how to upload a pic on steem haha)
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To post image you have to download your image from coinigy on your computer.
Then go on http://postimg.org then upload the image. Get the png extension named as direct link.
Then come to steemit and post this code: 
And you will see your image uploaded on Steemit.
Cheers!
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In this chart I bought around 8600$ and now it's falling. Should I wait till it reaches it base at 9159$ or sell it at 8600$ as it reached that point a few hours after I bought it. Thanks.
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I havnt been trading AMP because its not a perfect chart, it hasnt been respecting its bases in the last bitcoin move, and it may not this time also..
And you are looking at too small a timeframe.. you need to look at a 1 to 2 month chart.. I wish I could give you better news, but AMP seems to stop follwing rules, everytime BTC makes a big move..
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Thanks for the suggestion. I will get out of AMP on the next small bounce.
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Hi there. Take a look right now to XMR. Big drop after breaking base. Good opportunity!!!
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You might also wait for it to return to the base. If it ever will.
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Hi luc. Thanks for the great info. Usually how much difference do you establish in a stop-limit order between the stop and the execution of the order? Thanks again. Buy the way, take a look right now to XMR
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Gday Luc, greetings from down under. I just wanted to thank you for your generosity and taking the time to teach us how to fish. There're very few people like you and we all appreciate your work!
I made my first attempt at buying a dip/crack (I used to have the mindset of chasing breakouts and following the crowd - which rarely worked out). Could you please have a look at my chart and give me your thoughts? I could have gotten out at the very first bounce back but I was a tad greedy and it dropped further. Luckily I was able to get out on the second bounce back - phew haha
Once again thanks, mate!
https://www.coinigy.com/s/i/598f00777ffe7/
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we are several traders from the facebook group..we all bet pretty much same.
yet the trade is going against us.
what you think ? is this a losing trade ? we simply need to wait ?
is this because bitcoin value is jumping like crazy ? so its considered dangerous situation for luc's strategy..like "news" ?
this is the trade
https://www.coinigy.com/s/i/598f352cd1749/
this is the facebook group
https://www.facebook.com/groups/1064955490307688/
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timescale is too small.
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Exactly.. Timescale is too small.. If you scale out to see a bigger picture you might not even consider that to be a base.. however, I would not be surprised to see it bounce from here.. seeing as it had a high of almost 11 and not its at 058.. thats almost 50% dive.. thats really hard to push further, you should get a break even trade atleast, is my best guess..
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Luc I love your stuff. Im starting to make some great trades and good wins based on your understanding of the markets. In fact the only time i've lost out was because I didn't follow your method.
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Hey man how's it going? Thanks for all your videos... i've been a silent grateful follower and i believe there are a ton more out there, that don't have a steem account. I just wanted to ask you what do that red and green bars on the Ask/Bid Data on coinigy mean... i've searched everywere and tried to figure it out but nothing till now... Thanks again for all your help!
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it looks like those red and green bars in the background of level 2 are a display of the cumulitive volume of the bid or ask.. So each level appears to be an addition of every earlier level.. I guess this is coinigys version of market depth. I dont really think this is useful information. Its not like the typical market profile that you might get on other charting services even tho it kinda looks like market profile because its to the right of the chart.
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Hey Luc -thank you so much for this video. It was awesome to watch as always. If you don
t mind (i think i asked you this in a previous post) can you please share/name some account builders (lets say UBQ/BTC for example). A lot of people like me which still have small account will benefit a lot from these. Thank you in advance. You have a very big list of coin that you are watching and not all of them are account builders. I am really interested in knowing the account builders if you don`t mind sharing. Would be great if you can also mention some account builders for ETH pairsDownvoting a post can decrease pending rewards and make it less visible. Common reasons:
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