Introducing our first Crypto Market Scanner

bulk-coinz (30) · 7 years ago

Hey Luc, did you see my post on your other thread? I released my own market scanner yesterday, I'd love to get your feedback on it. It's a bit different to nervisrek's (great job btw!) but it gives you the ability to filter by a specific change threshold, so as to only show coins that have dropped 5%, 10% etc. in the given time period. In the near future I'll be adding the ability to filter out specified exchanges and markets as well.

You can find it at cryptodrop.net or read my full post at https://steemit.com/cryptocurrency/@bulk-coinz/cryptocurrency-market-scanner-now-live-cryptodrop-net :)

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quickfingersluc (60) · 7 years ago

im watching it now.. does it only refresh every 5 minutes? it says updating every 5 minutes.. our other scanner alerts seconds after a move happens, and often thats even too slow to react.. every second counts with daytrading..

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bulk-coinz (30) · 7 years ago

Hey Luc, there are some other refresh periods in one of the two dropdown boxes at the top of the page. The way it works at the moment is that whatever lookback period you select, it will refresh after that period of time and then look back that many minutes to check for changes. So for example if you choose a lookback period of 10 minutes, it will look at the last 10 minutes of data for each symbol, compare that against the change threshold field, and display each symbol that has changed more than that amount in the last 10 minutes, then wait 10 minutes and do that again.

The shortest refresh period at the moment is 1 minute - I can definitely make that shorter but the question is how far back should it look for data? If it refreshes every 5 seconds but only looks at the last 5 seconds of data, it's unlikely that any symbols will have changed more than 5% in 5 seconds. Perhaps we should have two fields, one for the refresh interval and one for the lookback period. What are your thoughts on that?

mcfly85 (25) · 7 years ago

I'm still new to this, but I'm guessing Luc will tell us that the refresh can always stay around 1sec (or as short as practical), and shouldn't be related to lookback period. Maybe I'm missing something though. Is there a reason you linked them together?
Noticed the alert noise and "mark as seen" have been added. Thanks very much!
Side note- your scanner just alerted me of 2 huge loads dumped so far at BTRX XLM/ETH just now. I made a trade on the 2nd one, hoping for a 3rd dump. Worth keeping an eye on

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bulk-coinz (30) · 7 years ago

I'm glad to hear the site's helping you find good trades! Originally I had the lookback period and refresh interval separate but I combined them for the sake of getting the site up asap. The problem arises when a duplicate entry is formed, ie. when a symbol is displayed and then on the next refresh it is also displayed again. What should happen in this case? I'm thinking that it should replace the original entry if it has dropped by MORE than was shown in the the original entry, otherwise the original entry should remain. But then at what point should it not be shown anymore? When the user marks it as seen? After a certain period of time?

Once I know what's preferred I can get started on implementing it :)

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thatguy25 (25) · 7 years ago

JUST A HEADS UP GUYS!
I don't know if anyone has mentioned this yet, and I'm sure a lot of the experienced guys are aware, but for all the newbies out there!
The scanner is picking up a lot of price drops that are dropping from pump and dump groups! Be very careful of these because after a pump and dump group has pumped up a low volume coin 50-100% (you will notice its just one huge green candle coming out of nowhere!) The scanner will notify us after it drops down a bit. The thing is if this is from a pump and dump group, that price is not going back up. The only reason it went up is because a group of people got together and bought the price way up and are waiting for people to buy in so they can dump the price right back down onto the unsuspecting people not in the group. a lot of the time they are actually dumping the price on people inside their own group who are trying to get in late as well.
just keep this in mind when using the scanner!
Happy Trading.

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15 votes

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12 votes

https://bitcointalk.org/index.php?topic=1730273.460

oneluckyflip (35) · 7 years ago (edited)

I WOULD ADVISE AGAINST BUYING QRL! The scanners are reporting a big drop in QRL but this could be owners dumping their coins. There is some rift within the project that someone within posted. Right now I'm trying to break even on my position,

tizzle (38) · 7 years ago

I concur. Always read the social media on a coin before buying into a panic, thge extra 30 seconds it takes to catch the headlines may save you from being stuck in a position.

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jetwork (35) · 7 years ago

I bought allready too late but I WOULD ALSO ADVISE AGAINST BUYING QRL :D

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https://www.coinigy.com/s/i/597bc2b0e9e9f/

gustavo-ar (25) · 7 years ago (edited)

I buy QRL too!, already exit with small profit.

Currently I have another disastrous purchase:

https://www.coinigy.com/s/i/597bc3410144d/

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oneluckyflip (35) · 7 years ago (edited)

I created a blog about this and what I did to get out of the trade and minimize loss. Credit goes to Luc for his teachings (it would be nice if he can review for me :) ) and credit goes to nervisrek for the scanner tool. Let me know what you think in the blog. This is more of a learning experience for me.
https://steemit.com/trading/@oneluckyflip/beware-trading-qrl-how-i-minimized-loss-on-a-trade-gone-bad

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wafflemakr (29) · 7 years ago

Hi Luc! Thank you and @nervisrek for this amazing tool. By the way, I am making a bot that can buy the coin with certain conditions. If I was to use the scanner, what conditions should I put the bot so it will automatically make a buy order? One is a 10% 5min drop or more, maybe if its below 24hr low too? I know the idea is to take the scanner alert and got to the chart, but I want to try this bot. Thanks!

5 votes

wafflemakr (29) · 7 years ago

What will be a good % volumen change to mix it with the 5min price change, like comparing the last 5min candlestick volume with the 24 hour volume. What will be a good % change? I was thinking a 5% spike in volumen compared to the 24 hr volume. Any ideas?

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miha9 (25) · 7 years ago

I think a useful tool for non-fulltime traders would be that if your buy order gets filled it would automatically sell at a predetermined price, that way you wouldn't have to worry about missing the sale if you're away and it would work with Luc's technique perfectly.

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wafflemakr (29) · 7 years ago

Yes. I have a bot in poloniex, detects when a coin goes down more than 10% in 5 min. But the thing here is, where to put the buy order? Right in the 10%? What if it goes lower? At the moment, I am buying just at 10%, or where the variation is. Then, after it successfully buys the coin, it puts a sell order at 5% margin (just to be safe, and not to put it in a 10% gain, better to have profit, that not at all!

So, what ideas do you have? What could be a general rule for the buy and sell order?

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dashmanal (25) · 7 years ago

I'd be interested in learning how to make a bot. Any good references on where to learn?

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https://github.com/xcbtrader/pobot

wafflemakr (29) · 7 years ago

I am not a programmer, but I started learning from other bots on the web. I thank xcbtrader for teaching us and donating this bot on Poloniex. I customized it to my needs.

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dashmanal (25) · 7 years ago

Thanks!

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pervak2 (25) · 7 years ago

May be it's a good idea to put a sell order on 5% margin and make a trailing take profit: when the price goes up without a stop you won't sell, if it then goes down and reach some threshold, you'll sell.
For instance. You buy at $1 price , set a trailing stop at $1.05. The price goes to $1.08 and then goes to $1.06. You set a threshold of going down for 1% and sell at $1.07.

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howcrazyisbob (25) · 7 years ago

I think that that is very possible to do manually

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saigontim (25) · 7 years ago

Wow, that sounds amazing! Let us know how it goes.

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lepolepo (25) · 7 years ago

Even though the bot is way faster to get to this opportunities, check thoroughly if it is stable in the long run. You don't really need a bot for these kinds of trades as they don't happen that often and the scanner is already doing all the work. Sometimes accuracy can beat speed

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wafflemakr (29) · 7 years ago

Yeah I know, it's just that I want to make it automatically. Anyways, I will be on the computer most of the time, I just want to catch the drop, and the bot can be quicker. If you have any ideas, let me know!

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howcrazyisbob (25) · 7 years ago

Careful, the scanner also captures a pull back. So the price may have gone up and then notified us on the way back down

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wafflemakr (29) · 7 years ago

What will you suggest for that situation? I mean, the bot I want to make is not for every situation, but we can try to cover most of them.

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rockmeetocean (25) · 7 years ago

Here's a question I was thinking about while I was watching your video. around 18 minutes you were explaining how when there's a spike upwards the safest place to buy is at around 50% of the spike (the pullback) because 1. if it goes up, then you get profit, and 2. if it dives, it will most likely return to around the 50% mark where you would buy costing you little to nothing.

My question is this. If the price keeps diving in scenario 2 , why not keep buying as it goes down if it will most likely either return to around the 50% point or higher? That way instead of merely getting out even in the second scenario, you would profit from the low price buys. Is it too risky? Here. I'll try to include an image to clarify my question.

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mrqtraining (31) · 7 years ago

Uau! @nervisrek, Thank you very much! I'm sure as we all start growing money, we will all make donations! This is a true trading community! Not these other communities where the owners are only interested in making money and take advantage on other people lack of knowledge!
Thank you Luc for helping all of us!
Let's upvote all Luc's posts and comments, guys and girls!

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yalzahed (25) · 7 years ago

Very excited about the scanner, thank you to @nervisrek for this!
but when you were talking about the 3rd type of trade would you buy on the first rebound only when it has a a drop of around 50% or would a 20 or 10% rebound be just as safe?

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oneluckyflip (35) · 7 years ago

SWEET!

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oneluckyflip (35) · 7 years ago (edited)

Suggestion would be 24 hour volume minimum of 5 BTC and 50 ETH, otherwise you are going to get these miniscule buys/sells that will intentionally drive the pricing. Or maybe logic using the last volume values, tho that would be a little bit more challenging.

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nervisrek (26) · 7 years ago

yes, there is a filter for minimum 24hr vol there atm that luc mentioned when building it, but it is very small. We will need to find a suitable value for everyone, there may be an average min volume everyone would be happy with?

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5 votes

cryptillionaire (25) · 7 years ago (edited)

yes, id say AT LEAST 5 BTC 24hr minimum and 50 ETH. Or maybe we can have two seperate channels, one for the lower volume more volatile trades, and another for the larger coins for big trades. Is there a way that the scanner can notice the longer 2-4 hour panic drops on the bigger coins?

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oneluckyflip (35) · 7 years ago (edited)

Nice! and thx. I got something for you once I complete my first trade using your tool btw. For the volume value, probably best to defer to Luc.

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https://www.reddit.com/r/ethtrader/comments/6px8mq/35_btc_just_disappeared_from_my_liquiio_account/

nathandmckenzie (25) · 7 years ago

Hey luke saw this on reddit about the liqu.io exchange I noticed you mention you use sometimes in your videos, be careful!

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octavyo (25) · 7 years ago (edited)

Hi Luc,

Thanks for the video -The marker scanner is a game changer . Special thanks to @nervisrek for making this tool.

I have some questions for you which I think will benefit a lot of people with small accounts (less than $400) which are just getting started

Using the market scanner to focus on what you call "account building" trades -is there any criteria which we should look for in order to decide if a trade will be an "account building" one or not ?
With or without the market scanner do you think it is possible to double an account value in one month by trading JUST ETH (since it always bounces back). So if I have let`s say $300 in my account and i decide to trade just Ethereum how likely it is to have $600 at the end of the month?
This was probably asked a lot already -What if after I draw my "bases" I see that the coin didnt break the base ? It seems to happen quite often..... Should we wait till the base will break or we should see if there was another base formed and hope to have a break on the new one ? Or better asked how long we should wait for a base to break before deciding if we should see if there`s another base formed and move on?
When you say "position trading" (not day trading) do you mean holding and selling a coin after a few days/weeks or what timeframe do you think it`s a good one for position trading ?
This is more of a statement -please correct me if needed : We can use the market scanner to build a small account and then move onto position trading where a single trade (which can take days to happen) could easily mean thousands or tens of thousands of dollars depending on the investment and how high the value of that coin will go. (i`m thinking here about ETH price drop to $136 or so which happend recently and then a big bounce back to $240)

One last thing -when you say to go small for those day trades how small we should be ? Put $10 on a trade $50, $100 or?

I appologize in advance for the long set of questions but I strongly think everyone which is new to trading and has a low account like myself would benefit a lot from your answers

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quickfingersluc (60) · 7 years ago (edited)

Thanks everyone for helping answer questions like this. I am having a hard time keeping up.. I think the answers below are great.. I can get maybe 30-50 position trades per month.. But i usually take 20ish.. and daytrades happen several times a day... So you can absolutely build a small account on position trades alone, without the need to take the added risk of daytrading or small account building type trades.. You can just swing those slower base type trades and still do good.. But with the Account building trades and other types of daytrades you can double your small account in a week or less sometimes.. so those are the options..

Let me take 2 seconds to show you a chart, that I just traded and please respond what think about it...
Notice that for the past two weeks you can buy 11s or 12s and sell 14s 15s and 16s even sometimes.. imagine the effect that has on a small account if you were only trading this one coin only.. and there are even better ones out there, im just using this one because i just just sold some right now..

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16 votes

oneluckyflip (35) · 7 years ago (edited)

These rises and falls comes in spurts throughout the day, likely from either a pump and dump action or some whale buying or selling huge. That's why you'll see no activity in the transaction history for a couple of hours sometimes. Lurk the chat on HITB and you may be able to catch a pump and dump

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cryrmpage (26) · 7 years ago (edited)

@quickfingersluc I've been trying to do the account builder trades. I've noticed a lot of the time I get "stuck" waiting for movement between " bid walls". There seems to be a lot of attempts at pump and dumps/manipulation down in the low volume alts.

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tizzle (38) · 7 years ago (edited)

the volume of trades on this chart scares me, there was no activity for 40 minutes this morning - should we not be concerned with that? On the bright side the lvl1 data shows some significantly sized orders ready to take place, but what if that was not that case - for example LGD/ETH [BTRX]?

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nbiroz (27) · 7 years ago (edited)

The chart seems nice, and more lively than few others I've tried. It seems its common for ETH pairs to move in nice channels, and maybe even less common pairs like altcoin/XMR, but in BTC I didn't find any pairs with similar movement that would give me at least 10% reliably. To me it seems that in altcoin/BTC pairs it's better to trade pumps, coins with volatility like XST and UNB that have huge movement.

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oneluckyflip (35) · 7 years ago (edited)

EXACTLY. The limitation trading these coins is how much one can put in an order. Typically you may only get a couple of ETH orders filled maybe 1k USD worth at the most, hence Luc's phrase of small account building trades

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nbiroz (27) · 7 years ago (edited)

I did a few trades on something like SNM/ETH, I think this type of chart in essence is simpler(except liquidity problems when your orders don't get filled) to trade along with the base strategy. But I don't trust myself too much to trade btc pair pumps and daytrades, those seem much more complicated. Without using any TA I can read percentage of a pump, base, timescale, and how most of these coins seem to pump after a significant dip, but I don't feel that's reliable enough. And daytrading is a whole new level, along with considering the order book & news & etc(except getting in time for flash wicks down, these seem pretty safe to not lose out on). Maybe I should just get some ETH and move on to these range/channel types of charts for now.

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oneluckyflip (35) · 7 years ago (edited)

Man, you seem smart enough to be making a killing off of these coins. Honestly, there is no TA other than your own analysis so trust your own judgement. Look at patterns, understand what is going on with the trading environment, and come up with a good strategy then go for it. This sounds pretty basic and sometimes it works out, sometimes it'll go against you.....just have a backup plan. More than often I think you'll win since its fuckin crypto, as long as you understand and read the chart correctly.

Also make sure to know which coin you are trading. Coins like UET you just dont want to touch.

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ils (25) · 7 years ago

Hey man, thanks for all your help and the great videos!!.. i've been drawing my bases , and ive noticed something.. i can see the bases a lot clearer with heikin ashi sticks instead of the candles.. i assume there is nothing wrong with that right?..

thanks again!

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briang202 (25) · 7 years ago

What are the best charts to watch for position trades? I only really know of the ETH/USDT chart.

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tizzle (38) · 7 years ago

All of them. I review all of the charts daily,this gives you the greatest opportunity for success.

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briang202 (25) · 7 years ago

...and you go back 1-2 months into the history to confirm that there the chart follows the pattern of base creation, base crack, panic, base creation, base crack, panic, base creation?

I have looked through many charts that seem to follow no particular pattern, and many more that don't follow the pattern that Luc is advocating that we look for... at least they don't follow it with any degree of consistency that we can count on.

I guess I was asking if anyone has identified charts that are in the ball park of reliability as ETH/USDT?

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https://www.coinigy.com/s/i/597e0e27c99d3/

tizzle (38) · 7 years ago (edited)

Once again, ALL charts have this reliability eventually - just be paitent and read the charts daily, eventually you will find the opportunities. Some charts I see prime opportunities in the past, but none currently - thats a fact of life while trading, its not free money, you still need to put in a little bit of work and be willing to take a risk.

With that said, here is an example of a chart which opened up to a great trading opportunity overnight. Once the price dips into the circle, your trade should be +EV if you sell upon the bounce back to the base.

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https://www.coinigy.com/s/i/597e19804d2b9/
https://www.coinigy.com/s/i/597e1a4620dfa/

briang202 (25) · 7 years ago

Thank you for the reply and the chart share. I agree that I'll have to learn the story of the chart before being able to capitalize on oppurtunity, so I will keep trying to interpret them because apparently my thinking and pattern recognition is currently too rigid.

With the chart you shared, there is no way I would have recognized that base. There are a few instances of similar bounces working out, but it doesn't seem to follow much of a pattern to me. Especially since 12 hours later another bounce happened that was equal to the bounce you underlined, but we ignore that one. I also don't really understand your circle in reference to the underlined base, but I'll keep watching to see how it plays out.

I don't expect you to go back and forth holding my hand on this one, but I figured a response may help increase value for someone else that is struggling to understand this chart.

Thanks again, and all the best!

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octavyo (25) · 7 years ago

@quickfingersluc -This chart looks great. Thank you so much for sharing this with us. I will definitely keep an eye on it. Can you also recommend some other coins that I should keep in mind (since you said there are others even better than this) ? whatever you feel might be an "account building" type of chart... this would help me a lot. I do understand that its my responsability to do my due diligence before buying a coin but I would love to have a few of those charts set up so if Im not asking too much please feel free to share others like this.

Once again thanks for your input

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mario91 (25) · 7 years ago (edited)

Hi octavyo... did you have any luck finding those small building account charts?

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nbiroz (27) · 7 years ago (edited)

I think he means common big swings on a coin, 20-30-40%. Coins with lower volume that can move in such ranges.
Probably possible but on ETH he mainly trades big swings, that could be one per month or few a month. To get to $600 u would have to trade off all the smallest bases most likely.
Personally I think previous bases are secondary, the newest one counts. U can look at the previous one if it's breaking it, or there's no new one forming. I don't wait for anything.
Position trading is trading off bases. The time varies, from a day-two to weeks.
Luc told me once to trade low volume coins till i make a few thousand, 3 or maybe 5 to make swing trading give significant returns. So maybe use mostly these daytrading methods he mentioned + trading pumps on low volume coins like mentioned before.

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alakula (25) · 7 years ago

With position trading I believe he's talking about identifying a base and buying off the "panic sell" You hold onto to it until it reaches the base or comes near to it (study the chart's history to see how high the bounces in the past have reached, this will give you an idea of where you should sell).
Correct me if I'm wrong.

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btcunbranded (29) · 7 years ago (edited)

"One last thing -when you say to go small for those day trades how small we should be ? Put $10 on a trade $50, $100 or?"
A small trade is Relative to your account size.
So if you have total account of say $100, small would be $5
If your account is $1000, small would be $50

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oneluckyflip (35) · 7 years ago (edited)

Trading in percentages of your total account makes sense, so you can

better diversify coins by having multiple trades going on
limit risk
leave room to add more to an ongoing trade.

3-10% of your total account makes sense for cryptos. Some professionals say no more than 5%, but do whatever you feel comfortable and within your goals. With smaller accounts, better to go higher to increase your chances of doubling your account.

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tizzle (38) · 7 years ago

A+++ @quickfingersluc and @nervisrek! I have a small request, perhaps the scanner could be split into two different telegram groups? It would be nice to see a dedicated group for BTC coin pairings and another for ETH coin pairings.

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nervisrek (26) · 7 years ago

Hi there, yes something similiar has been mentioned for have exchanges in separate telegram groups, if people are only trading in certain exchange(s). Technically possible and if there is interest for this i will implement it. I mean we could keep the main telegram channel with all alerts and then separate ones for exchanges/coin pairings to keep everyone happy :)

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13 votes

tizzle (38) · 7 years ago

Thanks @nervisrek! Some traders only trade one coin pairing or the other, therefore the extra content for the unused coin is just "background noise". For example I holding a large amount of ETH, waiting for the market to normalize before I convert back into USDT or BTC which is normally my primary trading coin. Until that occurs I am only trading ETH pairings, therefore for the next month (or less if I am lucky) I don't need to get any signals from Telegraph on BTC coin pairings .

BIG FAN of your work, this will only get better over time! As soon as I am more liquid I will send you over a donation as my way of saying thnx!

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nervisrek (26) · 7 years ago

ok , let me work on an ETH only telegram channel and probably introduce BTC and USDT channels aswell for others :)

tizzle (38) · 7 years ago

Much LOVE!

Looking forward to the time in the future when we can customize minimum volume requirements. In the meantime, I'm happy as a pig wallowing around in the mud ;-)

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https://t.me/joinchat/AAAAAEQliyohm_u-unIZGA

nervisrek (26) · 7 years ago

I have setup an ETH only channel, here is the telegram link:

if you could test this out, as its also running latest code that I will be releasing in next main update tomorrow/next day. Thanks :)

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tizzle (38) · 7 years ago

It works

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emmawii (25) · 7 years ago

Love your work @nervisrek! Thank you! Any news on the BTC and USDT only coinpairs channel? :)

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zakhoffman (25) · 7 years ago

Hi Luc, i joined because of you man. I'm starting this journey , like many others here and your videos have been a HUGE help. Thanks mate.

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cryptopy (40) · 7 years ago

This is awesome, finally a market scanner that is already pretty decent. Really good job to @nervisrek

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https://www.coinigy.com/s/i/5979fbe219b7b/

gustavo-ar (25) · 7 years ago

this is a good place to sale?, (blue line is where mi sell order is located).

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saturnx9 (36) · 7 years ago

I got in on that same dump this morning. I put my sell at 9100 and was filled within a few hours. Looks like you could have made up to almost 9500 on that.

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rockymoto (25) · 7 years ago

Hey luc, first off thank you so much for putting in the time to release these videos-- you seem like the only pragmatic and realistic crypto-currency trader who is putting out content and we are all super lucky to have your input.

I have a question about trading pairs--I have made some successful trades on Bittrex between ETH/USDT and BIT/USDT, but it looks like most of the trades showing up in the marketscanner do not have a USDT trading pair. My question is how should I turn my USDT into BTC/ETH to trade without losing money in the short-term with fluctuations in the BTC/USDT and ETH/USDT markets? Say I purchase 1 BTC at its current price (2573.175 USD) and am having success day trading BTC trading pairs, but the USDT market value of BTC drops below my original buy in price. I will be making my profits in BTC, but will ultimately be losing money because of BTC/USDT market fluctuations. I guess I am wondering if I should be patient and wait to buy BTC and ETH when they are low (following your position trading strategy of buying the dips) or should I just convert from USDT at anytime to capitalize on day trades?

You da man!

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spyd3r76 (25) · 7 years ago (edited)

Just picked up some CLOAK on Bittrex for .001 due to the scanner!!!! It was at .0013 / .0014 before someone started dumping it! :O

Granted I only had $11 worth of BTC in Bittrex when the signal hit, but money's money!!

Thank you @nervisrek for this awesome tool & @quickfingersluc for sharing it. Will def tip neverisk after I hit a big trade!

Oh, also wanted to say I just saw some weirdness on the signals for DTC, EDG & VIA vs BTC on Bittrex. Signal showed big drops, but Bittrex showed big gains. Then the Bittrex graph refreshed & showed the drops. The signals were faster than the exchange! How frigging cool is that!!!!

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g1984 (42) · 7 years ago

It'll be awesome when it gets scans for poloniex.... are you using this scaner for day trading?

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nervisrek (26) · 7 years ago

yes I had added Poloniex during the testing/building of the scanner but didnt get as many alerts. I'm working on some updates and I'll try to add Poloniex in aswell

7 votes

g1984 (42) · 7 years ago

cool... thanks for the effort..... another thing that i'ld like to ask is who are the people that you think that gives good TA and fundamentals over here and youtube? I'm building up my subscription list.....

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nervisrek (26) · 7 years ago

Poloniex is now live :) we will see if there are much alerts there over the next couple of days. I'm thinking of using online straw polls for the community to vote on what exchanges people would like to add in the future. As for youtube links, i'm not the best person to ask but maybe someone else in the community could give some links. @quickfingersluc and price action is all you need to know :)

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rockmeetocean (25) · 7 years ago

@nervisrek Loving the scanner so far. Can you add kraken exchange as well?

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manwe (25) · 7 years ago

Indeed! XD

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nervisrek (26) · 7 years ago (edited)

kraken has been added aswell, please make sure to subscribe to @NEWS_cryptomarketscanner as I announce updates there:

invite link: https://t.me/joinchat/AAAAAEQUPCCuu3snF_F8EQ

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manwe (25) · 7 years ago

Thanks so much @nervisrek!

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marcuscrassus (25) · 7 years ago

Great job, but won't this kinda defeat it's own purpose by having too many people fight for the same low volume coins? There are already hundreds of people in the channel, no way most coins can support that kind of volume.

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quickfingersluc (60) · 7 years ago

i doubt most will have the patience to actually sit at the computer all day like I do and check each alert as it comes out.. Mainly because the real money is in the position trades.. these little daytrades are just extra bonus.. I like it but there are not enough traders on this blog to make much of a difference.. and most who try to daytrade will lose money and give up quick.. its not as easy to react fast as you might think.. thats why i suggest sticking with the easy position trading that I outline in my other videos.. But I share everything, so I had to explain daytrading also

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8 votes

themarkymark (78) · 7 years ago

In the swing of things, the number of people using it will be a drop in the bucket for the amount of people trading crypto. Most trade with little to no insight and purely on emotion and PR.

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ebisuwarrior (25) · 7 years ago

I tend to agree with you. I received an alert for MTL-ETH from the scanner. After about 20 mins I checked out the orders and there is now a swarm of low buy orders. If another spike down occurs, then the market will adjust to this low level. I'd caution using this tool on low volume pairs.

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pureconsulting (25) · 7 years ago

@nervisrek - Thank you so much for this scanner. Looking forward to using it.

Another good option, to filter some of the noise, would be the ability to choose only the exchanges I need to see. Since I only trade on Polo only seeing trades for Polo would be good. But when I want to move some money to Kraken then I would have that option available later.

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lewstherin (33) · 7 years ago

Super excited about this scanner! Very grateful to @nervisrek and Luc for coordinating this whole thing, will be donating soon once I start getting some profits. Finally got my Kraken account funded and set some buys.....just waiting now, when BTC drops gonna buy some to send to Birttrex and get in on this fun with the scanner.

I see why you call yourself quickfingersluc now, I have seen multiple occasions now where you have to place that buy order super fast to take advantage of the drop!

I noticed Coinigy is slightly behind the scanner. When I pull up the page it will still be at the higher price before adjusting to the drop the scanner reported, would it be safe in situations like that to trust the scanner and put through the buy before seeing it on the chart?

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tyjeco (25) · 7 years ago

Hey Luc, you have such a good way of teaching thanks for that! Could you also get more into the emotional rollercoaster. Patience is my weakest link and seeing the candles go up and down is killing. Take a look at this image for instance I bought into it at the lowest level. When you see the sell order list, I will be waiting a long time to get this chart back up. Would you stay around that long? I think that once we go past the whales the only is up for a long time. But my god how long do I have to wait haha
https://postimg.org/image/40rmyobcr/

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https://support.bittrex.com/hc/en-us/articles/115000808991-Statement-on-Bitcoin-Cash-BCC-

gustavo-ar (25) · 7 years ago

If you have a Bitcoin (BTC) balance on Bittrex during the BCC UAHF time on August 1st, 5:20am (12:20pm UTC), you will be additionally credited the equivalent amount of Bitcoin Cash (BCC) on a 1:1 basis. i.e. 1 BTC on Bittrex held during the on-exchange snapshot will get you 1 BCC. Full details below.

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solar (52) · 7 years ago

Luc, you are outdoing yourself. Your new set of videos are so good. I'm just watching occasionally as I don't do much day trading, but i find it fascinating and eventually my find my way into it.

Thanks so much!

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quickfingersluc (60) · 7 years ago

No problem, I just trying to help everyone.. But I have to admit, it is getting distracting, so I might have to refocus my attention a little more to my trading.. Im taking less trades, due to answering questions... but helping everyone is addicting, because some of the followers are doing very well

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11 votes

cryrmpage (26) · 7 years ago (edited)

Maybe you can start a discord channel (or other chat/discussion app) and more and more your followers can start helping each other with the frequently asked questions and things you've covered before. That should help take some of the workload of of you. We can also discuss trading opportunities with each other since we're all trying to do the same thing at the end of the day.

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johnmerced (25) · 7 years ago

I like the idea on having a Discord or preferably a Slack channel.

@quickfingersluc I shared your Steemit page with the following Slack channel I’m part of (over 1k users):
https://cryptominded.slack.com

It will be good if we try to growth that community of cryto enthusiasts!

Regards,

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kaynentoh (25) · 7 years ago

Thank you @nervisrek for the scanner !!!

I think the scanner is not scanning very well at the moment. I just got a alert from coinigy from this FAIR coin. it dropped 30% within a few minutes but i didn't get any alert from the scanner telegram. Might have to check it out mate. But scanner still in Beta so fair game. Again, big thanks and i'd appreciate it. Would definitely donate once i make some good trade out of it.

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metafzx (40) · 7 years ago

Luc, @nervisrek... You do realize that you've just changed the game. You have me seriously considering a complete change of lifestyle. Thank you both so much for all your work getting the power of crypto independence into our hands!

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quickfingersluc (60) · 7 years ago

I felt that way when I first started trading penny stocks.. like I just won the lottery.. and the best thing is, i have made money ever since.. 10+ years later, and I still feel the same.. Free Money?? wow, thanks market

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11 votes

mermaid23 (25) · 7 years ago

Luc,
I'm sorry you're getting overwhelmed with questions. If you can't get to it, maybe others can chime in on my question. I've been following along and getting pretty good at finding bases. I'm not as good - yet- at knowing when to buy based on the bases. I usually buy too soon. Here's my question. When a base is cracked just a little bit and then it jumps back up, does that nullify that base? The little jump-up doesn't make a good new base, so do I go back to the original base or wait for a new base with a big jump to form. Here's a chart to illustrate what I'm thinking:
Thanks for sharing your knowledge!

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quickfingersluc (60) · 7 years ago (edited)

I dont want to confuse anyone with all the Xs on this chart but lets talk about crowd mentality for a second. So 44s were resistance quite a few times, shown by the Xs and then when it finally broke threw it jumped up to 49s, then a sharp pullback to 44s again to see if that was going to hold as support, or in our language, was there a base forming at 44s.. then you get this huge spike to 60, and after all the craziness is over it starts to work its way back to the base and retest it a bunch of times.. bearly breaking it.. So the question is this: From July 22nd to the 27th is there lots of traders trapped above 44? Yes.. Will there be a panic when 44s finally break? Would all those trapped traders start to feel the pain and bail? .. You see, clearly there is good reason for a panic to develop here, and thats exactly what were looking for.. so I would be ready to buy up the 38s 37s 36s and so on, if we get some quick red bar movement down..

Drawing bases and safe circles are nice and easy, but simplistic if you dont understand the real reason for them.. You have to read the story of the chart and get why its acting the way it is. Once you have the story clear in your head of what everyone was thinking and how they could get hurt by a surprise, then you can take your trade with confidence when you see that panic develop.

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mermaid23 (25) · 7 years ago

That explanation makes sense. I would love to see more walk-throughs of chart narratives like that. It's really helpful in learning to see what's really going on behind the ups and downs. Thank you!!

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encore22 (25) · 7 years ago

that's a great answer, I'm really starting to get this whole "story of the graph" thing. Thanks

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tizzle (38) · 7 years ago

Your post is pure GOLD.

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briang202 (25) · 7 years ago

YES! The story of the graph is very helpful when you're the chart doesn't match exactly what we see in the videos. I would love to see more of this kind of narrative walk through.

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bdrex95 (25) · 7 years ago

This post just turned on the lightbulb! That is the "story of the chart". Thanks for all you do, Luc!

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tizzle (38) · 7 years ago

The first bounce after the crack of the base at 5050 was for only 7%. I'd set the new base at 4300, but I'd be on the watch for evidence that the next bounce will be stronger than 7% for me to take a trade.

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mermaid23 (25) · 7 years ago

That is essentially what I'm asking. I think the strong base was at 4500 (ish) and that was broken with only a 7% bounce. Can I look back to that 4500 base or do I have to wait for a new base to form (a stronger base because I agree that I don't want to buy on only a 7% bounce)

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onmytime (25) · 7 years ago

It was broken (maybe cracked is a better work here), but there was no "Panic Sell". That's what Luc identifies before his buying. Not if the base was broken, but was there "panic selling" afterward, thus causing the price to dramatically drop. Not trying to speak for Luc, but I've asked this same question before, and that's how he answered it for me.

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mermaid23 (25) · 7 years ago

I get that. I didn't buy for that reason. The question is, now that it's broken but with no panic, can I still use the 4500 base or do I have to wait for a new base to form?

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tizzle (38) · 7 years ago

It felt like I already answered that question in greater detail, but if u want the simple answer then the answer is no.

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oneluckyflip (35) · 7 years ago (edited)

Good question. If there was another crack, I tend to average both of the bases and get in between since the bounce wasn't as strong as your first base. In your case, drop it between 4300 to 4400. I don't do this all the time....only when the drop isn't that big.

And I agree, wait at least 10% drop from base to get in on a trade.

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timgmashups (31) · 7 years ago

cool been looking for a decent live chart thing for ages.. this does even more

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saigontim (25) · 7 years ago (edited)

Dude you are a game-changer! Really big shoutout to @nervisrek So much appriciation! Enjoy your day off!

Just gave it a try (when the alert came on) on Bittrex - DGD, bought in at .023, looking for a 10% profit... am I following 'day-trading rules?
'https://www.coinigy.com/s/i/5978c64107580/

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iijokerzace (32) · 7 years ago

Right there where you put your line is a good place to buy. However I would only put a small amount first (a nibble) and now wait since only two things will happen and you can profit from both!

It goes up - sell ON THE BOUNCE. dont be greedy take your trade and never let those emotions take hold!
It goes down - buy some more when it hits its last base (looks like around .021) and wait for it to bounce back up. Sell BOTH trades and you will make your money back and some more because you bought when it dropped even more.

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tizzle (38) · 7 years ago

"Right there where you put your line is a good place to buy." <- I disagree. That is close to where he should set his base, but not where he should be buying. Based on the performance of prior bounces, he should wait till the price drops another 10% then start buying.

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user868name (25) · 7 years ago

I agree with tizzle. Thats a base not a crack...Even though it looks to be bouncing off the base pretty good. I personally would only by under -10% or more of that line.

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saigontim (25) · 7 years ago

Thanks for all your feedback guys, but isn't it different when it come to 'daytrading', I've done the following steps:

Alarm went of, more than 15% in 5min
Look at the 1 hour chart - highly volatile coin, with a good history (I define good as, high swings above my buying price)
Look at the 5 min chart, currently 'low'/ cheap to buy
Set buy order a little below the price of when the alarm went of
This coin makes swings of 20-30%, so set a sell price of 10% (just to play it safer)

Please let me know, all feedback is welcome!!!

P.s. I did get my selling price... but more interested if my reasoning is correct

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tizzle (38) · 7 years ago (edited)

Whose "day trading rules"? I dont recall anyone discussing a different set of "rules" in Luc's posts. What you are doing seems like gambling to me, not trading.

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saigontim (25) · 7 years ago

I though with the account builder trades there were different rules? I probably get it all wrong.... so maybe you can help me out... On a chart like this, what is the 'right' procedure? Would you set a buy-order lower than where the candle ends? Thanks for your responses so far! https://www.coinigy.com/s/i/5979d11b1e1e6/

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tizzle (38) · 7 years ago (edited)

I suggest you wait until @quickfingersluc puts out a series of videos on day trading with account builders. Attempting to dive into the deep end of the pool without knowing how to swim is very dangerous, you should instead learn to crawl before you try to walk. In other words, focus on the basics of position trading first, get that right and log many successful transactions under your belt, and then (and only then) should you try day trading using the scanner. Why? Because day trading cryptos properly uses remarkably similar techniques... find the base, determine your expectation, determine the reason for the sudden fall in price (is this the first pullback?), and predict where the bounce will occur, etc.

PS: I would not trade that chart, I see no compelling evidence that my trades would be profitable.

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https://www.coinigy.com/s/i/597a2bd454477/

tizzle (38) · 7 years ago

This chart is a good example of what we are looking for when using the scanner. See the large fat fingered drop here? This is probably a single seller dumping his or her position, this sudden influx caused the price to drop so quickly that the market barely had time to react. If you bought, you would be selling some of your position at around the 50% retracement, this would assure that your unlikely to take an accidental loss in the event our assumption that the market will return to normal is wrong. I would have probably gotten around 15-25% ROI on this quick trade, and be out of my position within a matter of minutes. Note that I am still using a 1 hour chart, the only reason why we might switch to a 5 minute chart is to verify our assumptions about the dump, clearly this was not a panic - the market was expected to rebound no matter how low the price went = great opportunity to pick up a few quick bucks!

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nbiroz (27) · 7 years ago (edited)

Thank you Luc, you are amazing. This blog is a goldmine. It's worth more than years of trying to learn trading scourging the web. The only way better than this is probably if someone is a trading genius and can devise his own successful trading style:> Before I thought that daytrading is more like going for 0.1-few % gains constantly trading the same coin without waiting for market situations.
And thanks @nervisrek

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canada-tothemoon (25) · 7 years ago

Hey Luc ! How do you choose to store your coins for long term holds vs the ones you want to have ready for quick trading? Safe to have a couple BTC in Bittrex as long as I have 2FA?

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krakan (25) · 7 years ago

I'm sure it was already answered by Luc. Please watch his videos and read comments.
For long term transfer your crypto to offline wallet.

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razor901 (25) · 7 years ago (edited)

Great job.
Thanks to you & to the programmer .

Shouldn't we set a minimum Volume for each chart? cause I've seen a few with 2 ETH only and other for 0.5 BTC ..
I even saw this now https://www.coinigy.com/main/markets/HITB/DSH/BTC it is at 0.03BTC ..
Shouldn't we have like a minimum of 5k$ or something like that/?

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nervisrek (26) · 7 years ago

Yes, as mentioned before, there is min volume in the scanner but it is set small. We will need to find a min vol that everyone is happy with or have different channels with higher min vol or have a interface for people to filter alerts. I'm thinking alot about this now..for future update

7 votes

btcunbranded (29) · 7 years ago

You read my mind!, filtering alerts would be great!.
Thankyou very much for all your work.

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ludocoinz (25) · 7 years ago

Maybe number of trades per hour is also something to filter on. As for volume, for me a coin is not interesing at all if it has less than 1 ₿ / day volume, but think even below 50 or 100 ₿ is not interesting.

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quickfingersluc (60) · 7 years ago

its tricky... if we set that volume too low then we get every small low volume move, but if we add too much we will miss some awesome account builder trades.. its best to keep it low, and only if we cannot keep up with all the alert, then add a higher volume to the filter.. but right now the filter is spitting out one alert every 10-15mins.. thats not very fast to keep up with

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8 votes

sensei77 (25) · 7 years ago (edited)

I have suggestion for this until better suggestions or personal settings can be established. If this is all automated and setting up new channels is not too hard and time consuming we could have like 3-5 channels based on volume and people can join the one they like. So for example.. Current version level 1 chat (a lot of opportunities and very low volume). Level 2 minimun volume would be little higher and level 3 higher etc. And If you luc have knowledge you can name those chat groups based on how large trades you can make usually on that particular level. So level 2 could be 100usd+ trades and level 4 could be +1000$ trades for example. But best obviously would be if you could twink your own settings in your preferred rate. Thanks again for both of you for your effort and support @nervisrek @quickfingersluc

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nervisrek (26) · 7 years ago

Yes, I can do this and if Luc and community think this is good idea I can setup a couple of min volume bands. What does everyone think?

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razor901 (25) · 7 years ago

@nervisrek

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leontheorange (25) · 7 years ago

hi, luc, on this ETH/USD chart, am I do it in a right way or just gumballing.....but..I feel like... luc is holding my hand to do these trade..

[url=https://postimg.org/image/uc50ttian/][img][/img][/url]

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krakan (25) · 7 years ago

sorry but I can't see Luc's method here. Where are you bases? Where are the cracks? You need to zoom out to at least 1-2months and read the whole chart. You need to see big bounces and that is where you can set your bases.

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leontheorange (25) · 7 years ago

ah, just playing around this contraction and make some small money for fun xD

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lingtriloquist (39) · 7 years ago (edited)

Many thanks to @nervisrek ....i'll be sending a donation shortly. #InCryptosWeTrust

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nervisrek (26) · 7 years ago

Many thanks!

5 votes

user868name (25) · 7 years ago

Awesome job @nervisrek . I have this up.. Watching the alerts and results for now. Might start making trades on the alerts tomorrow.

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scalerman (46) · 7 years ago

Thanks so much @quickfingersluc and @nervisrek! Id love to try it but its on telegram group chat? Im getting "the address wasn’t understood' on my browser. Any other way to access it?

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nervisrek (26) · 7 years ago

Yes as @krakan mentioned there are desktop,web and mobile versions of telegram, checkout https://www.telegram.org/ for more info

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scalerman (46) · 7 years ago

Thanks so much @nervisrek!

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krakan (25) · 7 years ago

install telegram on your PC.

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scalerman (46) · 7 years ago

Thanks @kraken!

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vagaboncritter (40) · 7 years ago (edited)

Thank you so much for this i am currently trying to get back my laptop and cant wait to set this up. GOD BLESS Luc man thank you for all the videos. Happy to be apart of all this man forreal!

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lowtohigh (25) · 7 years ago

Luc and @nervisrek; excellent job!! Really great work; above expectation with telegram integration. Really nice. You will get my donation. If we continue in this direction we will have a goldmine in few weeks :)

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themarkymark (78) · 7 years ago

Hey @nervisrek, any chance you could add Pushover support?

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nervisrek (26) · 7 years ago

I actually started with pushover support but switched to telegram as people have to buy the pushover app on their phones whereas telegram is free - can i ask why you want pushover/what advantages it has?

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themarkymark (78) · 7 years ago (edited)

Because I already own it (and use it a lot for many things and don't want tons of similar apps on phones), it's fairly popular, and it works really well. Very basic push over support can be added just by adding email support, users can enter their pushover email address and it will work. Although the API is really simple and it would take no time to add it.

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ebisuwarrior (25) · 7 years ago (edited)

I'd suggest not being so greedy. @nervisrek has created a great free service for us all to use. Just use Telegram, seriously what's the problem.

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themarkymark (78) · 7 years ago

It was a suggestion, chill out

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zakhoffman (25) · 7 years ago

I'll donate to the scanner as soon as I make my 1st trades. Looks awesome. Thanks.

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shawnfishbit (55) · 7 years ago (edited)

Hey man, I'm loving your style and using it for when price cracks a base. IT WORKS. I'm getting a bit better at catching them. I've set up tons of alerts across Bittrex and Poloniex, and if I'm around and it dings, I'll check it out. Thank you man!! Really awesome stuff. Great trading style and relatively easy to learn. But effective!! Here is an example of one of the trades I've done using your style.

Going to give the scanner a try. Have you heard of Crypto Ping? It's similar, but pings you for large increases in volume. But from what I've seen, this scanner is just what I need. It's going to be really helpful!

The way you explained the EOS chart was great. Perfect example of how the scanner can be used to make money. HUGE wicks by dumps repeated every 5 minutes = easy and cheap coins. Then sell them up at the top. Awesome.

Your explanation on the 50 percent pullbacks was fantastic. I have a feeling, many of us are going to put this knowledge to use and make a lot of btc

@nervisrek fantastic work. :)

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lowtohigh (25) · 7 years ago

I tested the Crypto Ping, but is in my opinion useless. Yes it does alert you when the volume change is high, but it is usually at the top of the mountain. The big question is if you buy immediately when you get alert where to sell. My conclusion for now is that it usually goes down after alert so maybe more useful for shorting :)

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tylerwayne (25) · 7 years ago

Hey @quickfingerluc! Thank you for taking all the time you do to make these video and share your knowledge in a way that people can understand. I have been treating Crypto trading like a job the past month and it's become addictive. This scanner is incredible and definitely is a huge help but the one thing I'm struggling with the most is getting money in and out of the different exchanges. What works for you? Do you keep a little crypto on the exchanges that you frequently trade? Also whats your advice for taking a few thousand dollars and converting it into crypto to put in the markets? Some of these trades require you to be quick because it's a small window of opportunity. Even with bitcoin I wanted to but some when it it 1900 but it takes like 7 days to transfer money from my bank account to coin base. If you could help with this, or maybe make a video on best practices for funding accounts and exchanges that would be absolutely amazing. Again thank you for your time and hard work putting these videos up and engaging with your followers.

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krakan (25) · 7 years ago (edited)

sorry but that was already answered by Luck. You just need to watch videos and read his comments.
If you want to play on few exchanges then obviously you will need to keep money on them. Simple.

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tylerwayne (25) · 7 years ago

@kraken thanks for letting me know. Do you know the title of the video or post that covers my questions?

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dolfski (36) · 7 years ago

Wow what an exciting day! Been testing the scanner, great job @nervisrek. Only suggestion is to have an increase in the minimum volume requirement for an alert so we weed out the very small guys (but still keep the little tasters). Cheers :)

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mrperozzi (39) · 7 years ago

What do you think about my trade in BTS/BTC? The first blue arrow is around 2.000$ and the second green is 500$. I am hoping for a rebound to the base(yellow line). Would it be wise to invest more or wait ?

bts 2.png

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quickfingersluc (60) · 7 years ago (edited)

as others have mentioned, i would look out at the bigger timeframe (2months) and you will not likely consider that yellow line to be a great base, but its not that bad.. you might be safe still .. i took this trade also, at .00005s and expected a timely bounce.. but now after a day has past and it seems to be weakning, without any real attempt at bounce, I decided to sell for 4% profit at .000052 .. thats like a break even trade for me.. and mainly im selling because it has not always respected the panics.,.. on 07/06 for instance, if you look back in the chart.. however with all that being said, your likely still safe, because it is still a very high odds trade you took, and the base is not that strong, but its not too bad.. and the chart is not perfect, but its pretty close

mrperozzi (39) · 7 years ago

Thanks for taking the time to reply! I appreciate the info

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lingtriloquist (39) · 7 years ago

That's a strong base that was cracked, but before entering the trade it's best to look at a 1-2 month view of the past to see if bounces back to the base are common with this BTS/BTC pair...good luck!

tizzle (38) · 7 years ago (edited)

+1 to @lingtriloquist, but I also want to add that you should have sold around 5330 if you bought around 5000 (NOTE: hours after I posted this I realized you bought at around 5220, this doesn't look like it will end well I'm afraid - we may never see a big enough bounce to be profitable) . The previous bounces were typically for under 7% prior to the crack, the 2 month + chart would show you that this is the case. This is a good chart to trade, but you should expect a relatively modest ROI if your trading off the base at 6040 - this is not a trade I would have taken, I would have waited for a better situation. You don't need to take every trade, wait for the more profitable situations. To illustrate my point, take a look at EOS/ETH - a killer chart at first glance, but the predicted ROI is too small to trade this chart over the past month.

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andonboj (25) · 7 years ago

I also invested in this pair....waiting for the rebound or maybe even higher in August. I have couple of sale orders above the cracked base. Good Luck!

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lowtohigh (25) · 7 years ago

I have the same situation and question, but I decided to sell. The main reason is that if you look at 2m chart I am not that sure anymore if this is the base or is it at 4700?

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alakula (25) · 7 years ago (edited)

I personally think the only real base was at the 4500-4700 range.

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earlybirdspecial (25) · 7 years ago (edited)

@nervisrek Amazing job and thank you for this. Just want to give you a heads up.

For the NET/ETH Alert on HitBTC, there is an asterisk on NET* which creates an error in the link. Is there a way to remove it for future alerts?

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nervisrek (26) · 7 years ago

Yes, thanks, Spotted that too and it will be fixed shortly, just testing on my test channel then it will be live :)

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naseemessa (25) · 7 years ago

Nice work guys!

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joaodg (25) · 7 years ago

Hi Luc! many thanks for this, you're the man;) and thanks to the developers, the scanner looks great!
Btw I just found a good example of the last trading method you mentioned. as you can see, it bounces back to the 50% are of the first bounce:
https://www.coinigy.com/s/i/5978cb1e5bd97/

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pureconsulting (25) · 7 years ago

@quickfingersluc - Is it also a safe trade to buy it again at the bottom of the bounce for the retracement back up to 50%?

In the chart above, since it didn't take off when we bought at 50% retracement (about 0.00019000) it then went back to the bottom. Would it be a good idea to buy again at the bottom (about 0.00006000) for the bounce back up to 50%?

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quickfingersluc (60) · 7 years ago

Sorry but that is not the trade.. you start with 1hour candles to see whats normal trading then you go to 5min candles to execute daytrades... so your 50% first pullback would have been near .00004-.00006 and then it ran to 41.. 10x for a small risk... its not possible to see on your chart, because your looking at 1hour candles.. and this is daytrading

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6 votes

cryrmpage (26) · 7 years ago (edited)

Big thanks to @nervisrek and @quickfingersluc !!!!!! I'm curious what happens when traders start using apps like these en masse? Will it force prices down? or create strong bounces? How did scanner like these change the stock day trading game?

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https://www.coinigy.com/s/i/597992080d4ed/

naseemessa (25) · 7 years ago (edited)

Hi, can you take a quick look at the above graph? Have I judged the bases correctly, and bought at a good price/time?

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pelt (34) · 7 years ago

Where is your base? I see a pennant type formation drawn on your chart (typical TA) which really has nothing to do with anything Luc has spoken about in his videos.

You mention buying at a good price/time, where are your buys?

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naseemessa (25) · 7 years ago

My buy is @ the green arrow.

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user868name (25) · 7 years ago

Not sure how you got the buy there?!? Your lines are way off. Not one video has lines like that. Please watch all his videos https://www.youtube.com/channel/UCbcxHiowf0TSNKn3xVpGTiQ You will find almost all of you answers there. Im sure i can speak for most of us here. We have watched them all a few times over. Not trying to be rude but the answers lie in the videos.

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pelt (34) · 7 years ago

Ah ok. I don't know how I didn't see that arrow before?

But yeah, like everyone else said, you should seriously rewatch all the videos he has posted on his channel RIGHT NOW!!!

He doesn't have a lot of vids up yet, so now is a good time to go over those vids again. I think you are missing some very basic things about bases as he's spoken about in his vids.

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krakan (25) · 7 years ago

as Luck said this MANY times, over and over again "check at least 1-2months data for your chart".
You need to zoom out to see at least 1 month and read that chart again. See all bounces and drops and based on this pick your bases.

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naseemessa (25) · 7 years ago

Thank you, will do this from now onward

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naseemessa (25) · 7 years ago

"(2) Keep your bases current. No need to go a month or two back to look for areas of support." This is taken directly from https://steemit.com/trading/@quickfingersluc/what-does-support-and-resistance-really-tell-you

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drasyl (25) · 7 years ago

The reason why you want to look at 1 -2 months of data is to only see if the bases/panics were properly respected and how many times they were. Is it 100% of the time or only 75%? This gives you an idea of the probability of future trades like this. You don't look way back in time for support levels because they aren't always reliably respected currently on the chart, only recent bases, that's what luc was getting at in the link you quoted.

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cryptotradings (25) · 7 years ago (edited)

I doubt you have seen any videos of Luc. This is the reason many good people like Luc give up eventually, because they get sick and tired answering questions. You should see this video 100 times before you ask another question to Luc https://steemit.com/trading/@quickfingersluc/what-does-support-and-resistance-really-tell-you

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naseemessa (25) · 7 years ago

I believe that Luc has said in one of his vids that hes fine with taking questions like these with graphs, cos its easily for him to analyse and give a yes/no answer.

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bigpapasmurf (25) · 7 years ago

love your content!

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kernowek (27) · 7 years ago

Hi Luc, first steemit comment here, very excited to join this community!

I've been following your trading videos for a while and they've been invaluable for a crypto n00b like me, thank you for continuing to make them and helping us all become better traders.

I'm hoping you (or anyone here of course) could help answer a couple of quick questions: firstly, would you recommend a novice trader like myself should start using a market scanner like this straight away or is it better to learn the basics in the usual "manual" way before moving onto market scanners? Secondly, will something like this work in the UK or are they restricted to the Americans exchanges?

Thank you in advance

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krakan (25) · 7 years ago

sorry but looks like you need to read a lot. You are asking so basic questions that you shouldn't touch scanner for the moment. Read and watch and then if you have questions read and watch again.
Scanner works only with Bittrex, Liqui & HitBTC - at least for this moment.

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wisebeardy (25) · 7 years ago (edited)

I second this. Stay away from the scanner. Watch Luc's latest video. In that he apologizes for creating confusion over his desire for a scanner. The scanner is needed to day trade in cryptos, hence he really wanted it, and he's sharing it with his followers who have enough experience to also profit with it.

But MOST of his videos detail the easier method used in position trading. That's the signature Luc method for taking easy profits in this market. Stick to that until you get more confident. The stuff that shows up in the scanner is all over the place and you'd probably spin your wheels trying to figure out what to do, until you have experience and knowledge under your belt.

And by the way, sounds like I'm only slightly less new to this than you - so I speak from experience!

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kernowek (27) · 7 years ago

Thanks for the clarification! I haven't yet watched his latest video but I'll go do that now. How long have you been trading for?

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kernowek (27) · 7 years ago

Thanks krakan, my gut feeling is to leave the scanner alone for now but maybe people think it could aid in my learning of crypto trading. I'm happy manually trading at the moment with some success so I'll probably stick to this for a while.

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cryptotradings (25) · 7 years ago

Why would you want to make a scanner when there is already one here and 2 more in the pipeline? From your comments it looks like you do not know anything about crypto trading. It is better to learn the basics first and then trade manually before you move to higher grounds. I also live in Europe and the best exchange for us is Kraken. Do some research about it for UK and see how well it suits you. All the best.

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kernowek (27) · 7 years ago

Thanks for the reply. However, I think you misunderstood by comment... I don't want to make a market scanner, I was asking whether it's even worth me using this (Luc's) market scanner during my beginner stages of trading. I've been using Kraken and GDAX with some success after watching all of Luc's videos and researching his methods, so I know the basics of what he teaches but still am certainly at novice level.

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cryptotradings (25) · 7 years ago

My apologies, I thought you wanted to build a custom scanner. All the best :)

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kernowek (27) · 7 years ago

No worries! Cheers

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algoryproject (39) · 7 years ago

Hi, we are working on final version of our Cryptocurrency Scanner + some more great functions. At this moment we have released demo version: https://demo.algory.io
By the end of 2nd quarter we will release final version.

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canyon (25) · 7 years ago

@nervisrek Nice job and thank you! Many thanks again To Luc for teaching us the ways!!

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https://www.coinigy.com/s/i/5979fda632361/

mrblazed (25) · 7 years ago (edited)

Luc, been watching for about a month, been keeping up with small trades and having success. This morning thanks to the scanner, caught a %300 profit on XMRETH on HitBTC that I definitely would not have know of otherwise. Don't think Coinigy shows HitBTC buys and sells so I drew them on. Thanks to you and @nervisrek and the others making scanners and everyone on here.

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wesleynewtrade (25) · 7 years ago

Is it just me or are those telegram channels not working anymore. I joined the telegram channel and all I could see are the alerts up to 29 novembre, no new ones come in. I would like to know if it still works and if so, how I can get it to work @nervisrek, @quickfingersluc

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tinkytinky (25) · 7 years ago

I have found it does not seem to be working either, but cannot find any info on it. Bummer.

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morapablo2010 (25) · 7 years ago (edited)

Hi Luc. I'm not a programmer so I set up every coin (Bittrex) in Boilr (an Android App) and was playing with this. I works very fast so I got alerts even the coinigy price changes. I quickly set my orders bot It doesn't trigger (the price moves very fast). My conclusion is be very careful because the coinigy price take a more time to change in the chart (about 30 seconds). How do you deal with this problem? Because of this I'm doing only position trading and manually set up alarms in all Bittrex coins. Thanks for yor help

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cryptofarian (25) · 7 years ago (edited)

Hi Luc! Thank you thanks so much for all the work you put in here. You changed my life man. And thanks @nervisrek for the amazing woork with the scanner.

Now that the crypto king (BTC) has managment problem and the whole market stalling it feels like. Du you think it is safe to buy in on cryptos that is under there base and trading sideways at the moment.

For example go in with a position where I marked and wait for the price to hit the base?
GNT/BTC
LTC/EUR
XLM/EUR
Or is that to risky?

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making-cheddar (25) · 7 years ago

Hey Luc, thanks for all the great information! So many of us really appreciate the efforts to help others to an understanding. In case you didn't know, there's a fast way to undo less than perfectly drawn lines or circles without hitting delete. Hit Ctrl Z
It's a windows hotkey but seems to work pretty well in coinigy. Might be other useful hotkeys too. In any case, thank you thank you thank you for everything you do. I watch your videos every day, thanks for being a humble person and a great teacher.

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https://www.coinigy.com/s/i/597aa2311bcdc/

pelt (34) · 7 years ago (edited)

Is anyone clocking ETC/XBT that just broke a base? A lot of these are actually getting set up. I only have a few bucks in bitcoins on a few exchanges as I'm still going through the process of getting organized.

But there are a lot of things getting ready to crack!

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btcunbranded (29) · 7 years ago

Nice find!, I am being warey (scared?) to jump in at minute as Aug 1st looms.
Btc and Eth will take quite an earthquake which will resonate through all Alts.
Therefore I plan to sit on the sidelines until at least the 2nd or 3rd
Good luck if you take the dive!

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https://www.coinigy.com/s/i/597bed24e63ce/

pelt (34) · 7 years ago

I jumped in. Took a pretty conservative entry thinking about what you said.

Although, there is typically an even longer type of leg shown at this coin that I would base my next layer in.

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btcunbranded (29) · 7 years ago

Amazing stuff as always Luc.
Very big thankyou mate

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randomtradernoob (25) · 7 years ago

I remember in one of your old videos, you said something like "this isn't a panic" and said you didn't buy...

chart

Would you buy this one in this case? I'm thinking it isn't a panic (unlike the first dip that was a sharp downward dive), but rather it's a correction from the sharp rise earlier in the chart, what would you do in this case?

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melsporty7 (25) · 7 years ago

Hey Luc :-)
Could I know how you withdraw your BTC to fiat ? Trying to find a reliable platform or something that could do it with any amount of BTC.

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btcunbranded (29) · 7 years ago (edited)

Depends which country you are in.
Alot of crypto guys use prepaid debit cards,in US think they use shift card, payza has also just started doing it but their conversion rates high

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melsporty7 (25) · 7 years ago (edited)

Thank you for answering. I'm from France. Waouh Payza's doing it ? Cool I'll check the conversion rates. Would be nice that Paypal too ^^

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btcunbranded (29) · 7 years ago (edited)

No worries, Paypal try here
https://localbitcoins.com/instant-bitcoins/?action=buy&country_code=FR&amount=&currency=EUR&place_country=FR&online_provider=PAYPAL&find-offers=Search
ps I havent tried the service so cannot vouch on their reliability.
Payza I have used but they can take upto a week

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nbiroz (27) · 7 years ago

Example of a pullback? Probably not if I'm stupid and it was supposed to show on 5 min chart.

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andonboj (25) · 7 years ago

Hi Luc and @nervisrek . Thank you for sharing the scanner with us. Have you seen the BitcoinDark Chart?

It jumped 45% in minutes. I managed to sell at 0.21 just the sell arrow is not shown due to some Coinigy bug I suppose. Anyone here has such problem with Coinigy?
Anyway the sell order was there for couple of days and I noticed on the scanner we only get notifications when the price drops….here it DROPPED 10% and then increased again for another 30%. I just hope it will go down to 0,015 again and maybe make another round like this. Lets wait and see

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thatguy25 (25) · 7 years ago

that looks like that 45% was from a pump and dump group. they might pump it again in a few days but there's no real way to know unless you join there group

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dragonsfire1981 (25) · 7 years ago (edited)

Hi Luc, I think your channel is amazing and has helped me rethink about how to trade so much. So I've signed up to the alerts group- I looked at one of the pairs which we got notification of- STX/ETH. Given STX is a new crypto, it has little history, but the volume bar is large beneath a black candle which indicates it will spike back up if I'm reading your method correct?
Chart

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davidspan (35) · 7 years ago

Very cool. Thanks for sharing.

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blacksilver (25) · 7 years ago

This is it! Thanks for everything you do

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ridge195 (25) · 7 years ago

Hi Luc,

Just wanted to say how much I appreciate all the info and time you are contributing here. I have been investing in crypto for a bit but never trading. You have helped me a ton get into that and although I have only made 3 position trades so far each one has worked great and could of been better if I had more confidence. Gonna take this on full time next week after studying all week and cant wait. Your the man Luc!

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themarkymark (78) · 7 years ago

@nervisrek What are you using for your data source(s)?

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krakan (25) · 7 years ago

data from exchanges via API, I would say.

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gustavo-ar (25) · 7 years ago

It seems to me, or since Thursday there are many cracks but without the subsequent rebound ?, or I do not have enough patience.

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dashmanal (25) · 7 years ago

I have noticed this as well and am wondering the same thing.

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krakan (25) · 7 years ago

I think you still need to read at least 1-2 months data for the chart and only then make decision. You can't just buy any drop without reading chart. I hope Luck will confirm this.

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mattbrayne (29) · 7 years ago

Oh man, we're finally seeing bearish flags in the crypto community. No one is game enough to buy altcoins right now. Everything dropped hard and didn't bounce :(
I guess I'll have to wait till August 1st to make money on my trades :(
Anyway happy trading everyone!

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pelt (34) · 7 years ago (edited)

Quick daytrading opportunity that may have popped up early today when I wasn't around, so I'm not sure how this would have unfolded real time and how hard it would have been to get filled?

Also, not sure if this was the "Fat Finger" type of trade or the "Account BUilding" type of trade? I'll have to watch that video again, as I'm not sure I see the real difference between the two as they both are spikes down?

But this trade I'm showing now, is likely someone just hitting the bid like Luc talked about in the vid to unload a position, as it drops down then right back up.

When I checked this pair on another exchange, it didn't look the same, so obviously nothing serious or related to news... just someone looking to get rid of something on a particular exchange.
https://www.coinigy.com/s/i/597bee46741d6/

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cryptosuf (51) · 7 years ago

hey guys, is there a reason why Hitbit isnt allowing me to trade?
I just added it as a exchange and added my api keys, everything on HitBit API is check off to give me full access.

on coinigy, it shows its Active, but the box that says " Trading " is blurred out and says, " Trading I not yet available for this exchange "

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nbiroz (27) · 7 years ago

I think trading on hitbtc via coinigy is impossible. You can only set alerts so when they pop off u will know and have to trade on hitbtc.

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nervisrek (26) · 7 years ago

I have included links direct to the exchanges in alerts. In the case of HitBTC if you setup your browser and login first - then when you click on the exchange link in the alert, it will take you straight to the chart logged in and able to place a trade

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user868name (25) · 7 years ago

nbiroz is correct. you can add the api to coinigy but its not setup to trade yet.....

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lowtohigh (25) · 7 years ago

See: https://www.coinigy.com/bitcoin-exchanges/

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https://www.coinigy.com/s/i/597c007a2afca/

mycho (25) · 7 years ago (edited)

I just made 18% in 15 minutes on Viacoin!

Thanks again for the scanner, I'll send @nervisrek a little «something» for his good work on the scanner :)

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pelt (34) · 7 years ago

Very Nice!!!

How quick did you have to be once you got the alert?

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mycho (25) · 7 years ago

I would say within 30 seconds from the alert to the moment I placed my buy order.
I was not gambling thousands though .... I am still on what I consider «play money».

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btcunbranded (29) · 7 years ago

Nice catch and well done!

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howcrazyisbob (25) · 7 years ago

Hi Luc. What do you think about this chart?
https://www.coinigy.com/main/markets/BTRX/BSD/BTC
It seems like massive volume occurring every so often. It doesnt seem to be predictable but that doesnt mean that its not able to be anticipated.
I also tried your method on the DASH drop today and while it didnt end up going anywhere, I didnt lose out, which is exactly what you have told us - it doesn't have to win everytime, only never lose.
I had a look at the scanner as well and it looks like you may have shot yourself in the foot as now you are competing with 600+ people for every drop that pops up on it
Love your work and will keep watching

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btcunbranded (29) · 7 years ago

Theres enough volume to take all our trades and some.No one person can take all those alerts fast enough ( LUC Excepted!) so the spread is wide enough.Then theres the fact that everyone will look at the trade and some will take it and the rest will drop it.

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newrealms (25) · 7 years ago (edited)

So grateful to have found your wisdom. This should give you a chuckle as I was surfing Youtube I found some guy teaching one strategy for trading (not cryptos thank goodness). This is completely nuts.

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tyjeco (25) · 7 years ago

Really nice! Thanks so much!

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https://blog.ledger.co/securing-your-free-bitcoin-cash-stash-d50aff765688

gustavo-ar (25) · 7 years ago

free BCC?

As a result, all Bitcoin holders will be granted a new duplicated Bitcoin Cash balance (literally airdropped free money) if the fork activates

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mycho (25) · 7 years ago

That is good news !

I already moved all my holdings from Polo to Bittrex.
But, I will transfer BTC to cold storage tomorrow for a few days ... just in case :)

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https://medium.com/the-quantum-resistant-ledger/to-the-qrl-community-13c1e96e10c5

anentree (25) · 7 years ago

While people have successful charts, I decided to report a failure. Using the scanner, I traded this, thinking it was going to shoot right back up. After watching it a few minutes, it looked irregular. I went to google and found this depressing article published by one of the founders of the coins less than an hour before I traded.

It was a hit to me and made me really consider about continuing to trade. I traded again as soon as possible to cut my losses.

Not looking for sympathy or guidance. Just thought I would pass the story along.

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cryptotradings (25) · 7 years ago

If you had read the comments on this post you would not have bought QRL. There was a warning for that coin posted 3 days ago in the comment section. I feel sorry for your loss, but be careful next time and also be well informed about the news surrounding that coin. Better take that trade 2 minutes late than suffer a loss.

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mrblazed (25) · 7 years ago

Looks like you bought before any of the comments were posted here, like a few of us did. Once it kept dropping I got on twitter and reddit and found the article. Thanks for posting this, the trades that don't work out help me learn more than the perfect ones.

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mycho (25) · 7 years ago

I did a similar trade as well. But, I have been able to run out with a 2,5% profit out of it.
I bought near the bottom of the dip.

Still, this is a good lesson that even if Luc method is great, nothing is guaranteed.
I hope you haven't lost too much there.

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https://www.coinigy.com/s/i/597f01d8492b7/

pelt (34) · 7 years ago (edited)

First trade in crytpos. Was holding for a while, posted this in another of Luc's pages when I took it.

Took off 3/4 at first green, and was holding for a bit more, at least to the break level. But since it came all the way back to my entry, just closed that last 1/4 for a tiny profit.

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coinme (25) · 7 years ago

Hi Luc! I'm so grateful for all your posts, the info you provide is truly empowering and potentially life changing.

This market scanner is amazing! Once I'm able to make some successful trades I will definitely be donating to @nervisrek to show my appreciation for this incredible tool.

I have been looking all the data coming in via the scanner for the last five days, and I have to say it can be a little overwhelming. I haven't made any trades with the data yet.... your voice is in my head "be a professional, don't trade on emotion!!!".

I'm able to execute on position trades with a very high level of success. I'm even able to pull off some successful day trades with coins I'm familiar with. Using this scanner opens up a whole new world of opportunity, but I need more time to take it all in. There is soooo much data, most of those coins I've never even heard of, and I understand from a day trading prospective it's the chart that matters, not necessarily the coin.

So my plan for now is to keep reviewing the notifications that come in, set some alerts as mock trades to see how they work out. Once my success rate on mock trades gets up into the 80% range I'll start pulling the trigger on actual trades.

Thank you again Luc... can't say that enough, thank you very much!

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benco911 (25) · 7 years ago

thanks for this
@nervisrek + @quickfingersluc

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octavyo (25) · 7 years ago

Can someone please tell me how to install this scanner? If I click on the link it gives me an error. I`m using Windows 7

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btcunbranded (29) · 7 years ago

For all of you trying to access your BCC
https://steemit.com/guide/@crypt0/how-to-access-the-bitcoin-cash-bch-bcc-on-your-ledger-nano-s

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cryptol0ver (25) · 7 years ago

Thanks you man !

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lezz.pride (25) · 7 years ago

Hi Luc, as always great post and video training. For day trading I am taking 5% profits and than selling.. So far I have won most of my trade (KNOCKS VERY HARD ON WOOD) ...do you think its safe on holding off for more? i have noticed I could've easily taking profits up to 10%..

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chukzu205 (25) · 7 years ago

Hello all. I have diligently been going through all the videos and comments before asking any questions after watching and reading the comments over 3 times, I couldn't find the answers to my questions. I'm hoping @quickfingersluc or any experienced member of the community can help. Here goes.

@quickfingersluc mentioned that when we get one of those alerts from the scanner, we should look at a 1 month view of the chart to determine what normal trading on that specific chart. He also says we should look at volume to determine what normal volume is for that chart. My question is, how does these informations help us? What does it tell us pertaining to this type of trade? if the chart has decent volume (shown by the height of the sell and buy volume bars), what information does it give us that could be a factor on whether or not the trade is safe?
You also said that 2 keys to determining if this massive drop in price is through looking at the exact same coin pair in another exchange to asses if its reacting the same way. I can understand that. You also said volume will tell us. Please elaborate further if you can. How exactly will volume tell is? Is it that the volume bar will not be big in comparison to the depth of the bear candle? Because if a coin experiences a massive drop and that coin pair doesn't exist on another exchange then we would have to rely on volume. How do we read volume and use volume to govern our decision making?

You also mentioned that sometimes the coin will stay down at the low for a couple of minutes giving us a chance to participate? Do you set buy limit orders below the price? Do you set buy stop orders above the price? Or do you buy at market? (You have also mentioned that you never use market orders ever). When the chart shows history of flash crashes then yes, one can participate via buy limit orders somewhere down there. However when the price is dropping live and direct, how do you participate? Is it the same thing? Put buy limit orders while the crash is happening and hope it drops low enough to get filled?

Much thanks to any and all who are able to answer these questions for me and much thanks to @quickfingersluc for teaching me a skill that can give me financial freedom.....a goal that I and most of us have been trying to achieve all my life. Hope to hear from anyone soon.

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chukzu205 (25) · 7 years ago

@quickfingersluc mentioned that when we get one of those alerts from the scanner, we should look at a 1 month view of the chart to determine what normal trading on that specific chart. He also says we should look at volume to determine what normal volume is for that chart. My question is, how does these informations help us? What does it tell us pertaining to this type of trade? if the chart has decent volume (shown by the height of the sell and buy volume bars), what information does it give us that could be a factor on whether or not the trade is safe?
You also said that 2 keys to determining if this massive drop in price is through looking at the exact same coin pair in another exchange to asses if its reacting the same way. I can understand that. You also said volume will tell us. Please elaborate further if you can. How exactly will volume tell is? Is it that the volume bar will not be big in comparison to the depth of the bear candle? Because if a coin experiences a massive drop and that coin pair doesn't exist on another exchange then we would have to rely on volume. How do we read volume and use volume to govern our decision making?

You also mentioned that sometimes the coin will stay down at the low for a couple of minutes giving us a chance to participate? Do you set buy limit orders below the price? Do you set buy stop orders above the price? Or do you buy at market? (You have also mentioned that you never use market orders ever). When the chart shows history of flash crashes then yes, one can participate via buy limit orders somewhere down there. However when the price is dropping live and direct, how do you participate? Is it the same thing? Put buy limit orders while the crash is happening and hope it drops low enough to get filled?

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