Lets look at my recent trades together, and lets break down some charts. Bitcoin is giving us soo many nice trading opportunities this week. Also lets look at a new "CryptoBaseScanner" and discuss the good points and bad points. A special thanks to @Benoist for making a great tool for us.
Dont forget that with this being a holiday, there are no banks open, for people to transfer money to exchanges. This could factor in, if we get another drop tonight or sunday.
Hey, where is the love. I am not feeling very motivated to keep putting out these videos if I barely get any upvotes. I'm feeling a little underappreciated lately. Oh, well I guess Ill just make money on my own and take a break from making these videos :(
Luc
when u have important post pm me on the slack
merry xmas
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Thanks.. will do
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Luc: Just on last couple of days. Really good stuff mate. My suggestion: Don't worry about upvotes. You'll attract a lot of people who'll be highly critical and make ignorant comments. The bottom line is that many people are fearful or greedy and want a quick fix and don't want to stretch their cognition. I sense a genuine heart for the people/community. Don't worry about not feeling the love, just embrace that you can present high quality instructional material for what is quite a complex blockchain world. All the best, Roger
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Let me in there please!
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How can we join?
EDIT: Never mind my question Luc, found the answer. To those that have the same question, Luc has no control over the Slack group, we are waiting for the moderators to open it up. Keep an eye on this blog for a potential future invite from Luc.
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Luc. I love your videos. You are the reason that I got into Steemit. I did pretty much exactly what you did toward the bottom of the bitcoin drop. I made a ton of money. I mean some ridiculous money. The problem is that my nerves were fried. I was seriously burnt out. I even did the speculation thing very much like you. Not quite as low as you picked. The only difference is that I just gave up after that and let my money ride. My nerves just couldn't take it.
I think I may want to use the app if my nerves ever calm down. Is the alert that we heard in the video from the app you showed us?
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Nope, I put an alert in Ztrader.. I only Ztrader it for a 5% drop alert within an hour, not to actually trade anything... Nice to hear you are making good trades, and thanks for you upvote, hopefully the slack room will be open to new ones again and you can join us in there..
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Hi Luc thanks so much for your videos, I’ve been binge watching them all and already seen most at least twice. I’m not trading yet as just new to the market but I’m so glad I stumbled on one of your videos when looking up how to use coinegy, I’m waiting to get on an exchange which seems very difficult for some reason. I live in Australia. Please don’t stop making them your explainations are a1 and your method is obvious even to someone like me who has never seen a market chart in their life, I think the time and effort your putting in just to help is amazing and I want you to know I definitely appreciate it and I haven’t made a cent yet. Thanks so much.
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Hey thanks for sharing your thoughts.. I am so busy that I often cannot find the time to make new videos... But I wont stop.. Im glad you are seeing how easy trading can be :)
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Thanks Luc, you are the man! I can't wait anymore to join the slack room, please just OPEN!!
Also I'm an experienced developer here, you can count on me with new tools/features to help the our community! :)
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I really have no say in when it will be open again.. I will post an invite as soon as the moderators give me one, but I dont participate in the back office stuff at QFL slack.. I just post in there when im trading and for discussions.. But really im just a trader and so im not reading all those conversations, or getting involved in any moderating/slack decision making..
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Luc,
You've been great & learning an incredible amount from you. I was also looking for a slack invitation/approval so if there is any talk going around about it opening please share!
If I can continue to build off my small successful trades and grow a decent account would love to submit a donation.
Thanks for all your time & consideration!
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Disregard donation comment.
What an honorable policy! That proves a real trader!!
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Hi Luc, your pretty much why I’m on Steemit as well. I love your teachings! Do you recommend any other trading app for iPhone that does the same as zTrader and alerts when a price drops in a certain time period?
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Thanks Luc.
I tried trading forex a while back using similar methods to you on small ticks. To get any reasonable gains though I had to leverage up and that killed me as the pieces I tried to sell out of where so large, my limit orders weren’t being executed by the broker.
I got my fingers burnt and didn’t return despite me making good money on the test accounts and having a good proof of concept.
I’m heartened to see that the volatility and liquidity are here and it’s what I needed back in the forex market.
I’m going through your YouTube channel now and reading your blog posts.
Thanks for your time and effort, it is laying down a great asset into this community.
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Luc, I wanted to personally say thank you for the videos and time put into the discussions here and in the slack channel. I started with a small account and have tripled its value in the short time (1.5 months) that I have been trading and it was because of sticking to and applying your method. I think a lot of us take it for granted that this information exists here, because so many different things can be easily found and studied for free online, however what I think a lot of people fail to realize is that compared to what else exists out there regarding trading your content is pure gold. So everyone please take a minute, create a Steemit account if you do not have one, and start upvoting Luc's content and participate in the discussions here. It is literally the least we can do to show our appreciation for Luc sharing his trading knowledge.
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slack?
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I started trading because of your videos. I joined Steemit to tell you thank you. I'm making mistakes, making good trades and learning a lot. Thank you so much for all of your videos.
For anyone who can help:
One issue I'm having is getting is straight in my head buying, say, LTC/BTC vs LTC/USDT (Bittrex only for now). With the $ value of BTC varying, how do I handle the different currencies?
Do I only trade in 1 pair or is there a good strategy for leveraging the two against each other? With my incredible math skills I will likely have $0 if I try to figure it out myself.
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Shalafi, I asked the same question below before I read yours. I hope Luc will give us some advice.
MNBen
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Just play one pair LTC/BTC at a time. If your buy is in LTC/BTC, sell to take profit in LTC/BTC and read the story of the LTC/BTC chart.
Personally, I trade only against BTC to accumulate more BTC and it has do me well so far
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Luc, I watched all your YouTube videos this week, and so far I've made 9 profitable trades, and one barely negative trade. I continue to improve the more I make live trades and the more I learn from you.
After watching dozens of other crypto and trading "gurus" on YouTube, your method, mindset, and character really stand out.
Now I've migrated to your Steemit account specifically to continue following your videos, and I send my appreciation your way for your willingness to share your 10 years of wisdom with others and the significant amount of time and dedication it takes to share.
10,000 blessings upon you!
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Thanks, Im glad you are finding benefit in my videos. Thanks for sharing your experience :)
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Thanks alot for your very helpful and informative videos & posts you share with your followers Luc!. I have thought about getting into trading for a few years now, but i never had enough courage nor motivatition to get into it, but now im going to give it a go thanks to you ! You are also the reason i signed in to the steemit community.
As For the upvotes i completely agree with you, i find it hard to understand why you are not getting the amount of upvotes that you deserve. Come on guys lets all give something small back to a kind man who tries to help other people financially in his free time ! :)
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I do appreciate upvotes, that helps motive me to continue making these videos.. But daily I do get thank you messages from our community also, experiences of followers who have turned small accounts into large ones.. Just yesterday someone msgd me to tell me that using my method they started with 8k and now have $70,000 in under 7months.. those experiences also motive me to keep making videos..
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@quickfingersluc Yeah that's great :).. I have a question if you do not mind. I have just downloaded the trial of coinigy to try it out but it seemed a little bit too complicated for a begginer and i also saw a video on it, in which one of it's founders was interviewed on, and even he said that coinigy may not be the ideal platform to start with if your are completely a begginer in trading.. Do you suggesst that i start with another website like etoro or fortrade for example ? Thanks !
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Let's start a chat and bounce ideas and trades around since we can't get into the other one
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Anybody want to join a WeChat group?
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Luc, you're the reason I'm into crypto and Steemit, I've been trying to day trade now, following your videos which I absolutely love by the way. I wanted to thank you and to ask you what do you think of the current ETHBTC lack of volatility, it seems to be impossible to day trade to me. Any comments?
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You could trade against the USDT or fiat.. there is a ton of volatility there..
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Hi Luc, I'm a 57 year old woman who got into cryptocurrecies so I could help my 81 year old father keep from making bad mistakes as he was determined to invest. I got hooked myself. I've done pretty well just doing a little trading and holding some of the top coins, pretty much tripling my investment since the beginning of November.
Then I ran across one of your videos on youtube and you gave me the confidence that I could actually trade safely and successfully. Before ever starting, I pored over many of your videos. I go back and watch them regularly to pick up any nuggets I missed and to reinforce the learning.
I joined Steem just to be able to tell you thanks for you dedication to helping others, your level headed style and for keeping it "clean." That is so refreshing. I look for each and every video and hope you feel encouraged to continue. You truly are a blessing. I am telling everyone I know who is interested in investing in cryptocurrency, to just watch your videos, including my 18 year old son who wants to get started.
Bless you and keep up the excellent work!
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First of I have learned a lot from your videos and I love you method and look forward to your new videos.
Did you ever do a Day Trading Video yet?
I like to trade in and out of my positions day trading to build my stacks of coins and I'd love to see your Day Trading method you mentioned you do.
PS: I know how you feel, I spend a couple of hours working on images and after a year on here some do good but many don't. Steemit almost has to be something that is just part of your routine to build it up over time.
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Yeah, I have been only using steeming as a platform to get out my videos to a larger audience. But I really dont have any time to be making constant blog posts.. I just want to help as many as I can navigate these choppy waters.. The videos seem to be the most effect use of my time to do this..
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Hi Luc
My question:
Do you ever take cash out of your account(s)?
In one of your older video's at one moment you mentioned something like "I never pay myself out". This got stuck in my head for a while because how can you do this for a living if you never take anything out?
Or did I totaly missunderstood this somehow?
I'm not planning to do this full time for a living (anytime soon). But somehow I do plan to pay myself out an "extra" now and then and I was wondering how others do this. (input from others on this is also very welcome!)
Sideinfo you might not have the time for to read:
I've bumped into you while doing research on starting with daytrading, which now led me into (safe)position trading.
From your first video off you got me hooked and interested. The way you put everything is very clear and somehow "noob"-friendly.
I don't look for step by step guides on how to do something, but your video's were the guideline I was looking for on how to get started with this.
Thanks for all the time and effort you've put in so far. You might feel underappreciated, but you earn every kind of credit you can get for all the help and info you provide.
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Luc has been trading penny stocks for over 10 years and making money and still doing so. He hasn't yet to cash out in Crypto because he has yet to financially have a need for that
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hey luc. thx for your awesome work!!!!
i wanted to ask where to set the real base on the candlestick because in your videos you are mostly a little vague.
should i set the base at the low of the lowest candlestick or at the open point or somewhere in the lower shadow? thx in advance for an answer and keep going with your awesome work! (i took the terms for candlesticks from here http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:introduction_to_candlesticks)
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There is no exactly value. So the base is just "roughly there". However, you can read the history of the chart to see how past base get respected. If the bounces always go past base, it's a high probability that this time it would do so as well, so you can set your sell at ~ candle body. If the bounces often return with a slight touch or with a wig, better be safe and sell lower than base. The answers are all in the chart
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Hi luc, happy new year and great video as usual. Regarding the lack of upvotes, one thing that works for a lot of youtubers (as silly as it is) is to keep reminding people of them and remind them to head to steemit.
For example, LinusTechTips says at the end of his videos "Don't forget to like this video if you liked it, subscribe and turn on notifications" etc. Others often open the video by saying "If we can get x amount of upvotes, I'll do y", or challenge the viewers to get a certain amount.
I've only just started learning your method of trading and already I'm finding I have a lot better time of it trading now, even though I've still got a long way to go. Thanks for the videos and blog posts :D.
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Hi Luc,
I would just like to start by saying your channel is great. Been following you for a few months after watching lots of other videos on how to position/swing trade and day trade. You're lack of use of technical indicators is refreshing. Everyone else is speculating on fibonacci retracements, crossing MAs etc. which seems to me like adding uncertainty to an already uncertain market
I have a more general question that I hope you can get round to answer. It's essentially holding versus position trading. Your earlier videos (mid-2017) on position trading make sense in the markets of that time, however now the markets seem to be rising at a greater % than before. And, if crypto follows the S-curve adoption profile, this bullish market may go up at a higher rate still. In this situation, do you still favour position trading versus holding? Which nets the biggest percent profits? For example LTC is up 9000% this year (from start of year to recent peak). A $10,000 investment in January would have been $900,000 at the recent peak. Has position trading out-performed this? Of course, the issue here is how would you know LTC would've gained that much.
This is in no way a dig, I am just curious.
Thank you.
Edit.
I just made a quick excel compound interest calculator. If you start with $500, and make 5% every 3 days, you'd have $192,000 at the end of the year. However, if you make 6% every 3 days, then you'll have $610,000 at the end. And if you make 7% every 3 days, that would get you $1.9 million. Crazy how compound percentage works. Moreover, if you started with $5000 and made 5% every 3 days, you'd have $1.9 million also. 5% every three days does not sound unachievable if you follow what Luc says and set up alerts for 100 or so coins. You'd just have to be on it for a year. In that case, you'd outperform holding (e.g. starting with $500, making 7% every 3 days giving $1.9 million; that's a 380,000% increase (3800 x); I think that would beat any holding.
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https://steemit.com/trading/@quickfingersluc/bitcoin-usd7-500-i-m-selling-while-everyone-is-buying-am-i-nuts
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That's an older video. The markets now are very different, they're consolidating after that huge increase in early-mid December. Trends seem less predictable, I don't see many rebounds after base cracks, instead there's lots of drops. The markets now are just so FOMO/FUD driven compared to just a month ago.
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So basically, you're asking a professional trader whether he really thinks trading is better than investing?
Actually, he does both: he trades frequently to get free coins that he holds as an investment. When he gets that "hot potato" feeling because the market has been very bullish, he sells off some of the profits, and keeps the rest to let them grow. If the market grows, he can sell some more. If it retracts, even better because then he gets to trade and get more free coins!
https://steemit.com/trading/@quickfingersluc/btc-almost-usd4-000-will-it-hit-usd6-000-or-more-where-do-i-take-profits-on-my-free-coins
Luc has said over and over that his old videos are always valid, regardless of the overall market trends. Trade when there's an argument and panic breaks bases.
You're right that the bounces aren't as high right now, but they're still there. You just have to adjust your targets accordingly by waiting for longer drops and/or taking smaller, quicker profits. If you find it breaking too many bases at a time, you're probably not drawing your bases properly.
The problem with cryptos as a long-term investment is that they don't pay dividends. The only way to get money out of them is to sell some, which always means having fewer coins. So regardless, if you're planning to use your crypto wealth as an income stream for life, you need to come up with a long-term strategy for selling them off in a way that maximises your profits, e.g. selling enough during the peaks so that you're not forced to sell during the slumps to have living money. It's great to be "worth" a million dollars in bitcoin, but if you never ever sell them, then what good does it do you, really?
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Would also like to hear your thoughts on this luc
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Hello im beginner noob and your videos are very helpful. Thank you! I'm still trying to figure it out. I really want to become a trader.
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Don't go. I just found you today!!!!!!
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Great timing on these trades @quickfingersluc
trying to follow your method and keeping an eye on the slack channel for all broken bases. Keep up the good work, and please don't stop making these videos, they're a great ressource for every one interested in trading cryptocurrencies.
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Let's start a new chat!
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Hey Luc, great video as ALWAYS! You're a f***ing genius man! :)
Question for you: on minute 33 of the video you were showing us your ETH trades, I noticed that you only bought when it broke 3 bases!! How come you didn't nibble or anything before that? I would have bought as soon as it broke the upper base by like 10%, as it was a strong base... what am I missing? Thanks!
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Luc, I really appreciate your honest advice and input as to how you approach your trading. You make a fellow Canadian proud! I discovered you just as I got into Crypto last month and I can tell you you have earned my trust and respect sir. I cannot wait to join you in the Slack room and take it up a notch. Enjoy your Boxing Day with your family and again, thank you.
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Hi Luc! First of all let me say that I really appreciate your work and it's finally great to see someone who is willing to give back what he has learnt without expecting anything in return.
https://www.coinigy.com/s/i/5a3fe506b98cb/
As you can see in the screenshot I have drawn two bases. The blue one is the first base and the green one is the second one. My question is if the first base never gets broken, can we jump and use the second base or should I wait for that first base to crack?
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Those are both great bases, and both can be used.. But you should trade off the closest base. You want to trade off the most current info.. and that base at .0167 is telling you that there are buyers there, ready to panic if that base gets cracked.. So its the one I would play off first.. But if it panics off the .0167s down, it will likely bounce off that .0145 before trying to go lower..
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Thanks for everything you're doing i upvoted hundreds a posts :). It's dropped to .0175 now! https://www.coinigy.com/s/i/5a438767af409/
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Thankyou Luc, for everything you have given us. If there are any new traders out there, or traders who arent winning consistently, EVERYTHING you need is in Lucs videos. People focus just on where to buy and sell, but there is so much more to trading, and its all in one of Lucs videos somewhere. I have watched them all many times, and in 6 months or so Ive gone from clueless and losing to consistently winning and doubling my account multiple times. And it's all thanks to the information Luc put out there, and some hard work. Luc if you would accept donations I'd send you a bunch, but I know you aren't interested in that, so all I can do is keep upvoting these and say THANKYOU!
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Wow, your very kind, and I thank you for sharing.. I will never take donations from our community, but it is very nice of you to offer. There is more than enough money for everyone by just trading the market.. Im just happy to hear you are trading successfully..
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Wow. You are a true inspiration, Luc! Thank you so very much for all your are sharing with us.
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Let's start a new chat and bounce ideas and trades around!
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Hi Luc! I already posted one question but here is another one?
https://www.coinigy.com/s/i/5a400b9faba19/
Can I take this as a support? I mean can you treat this as a big bounce and hence call it a support? Does it have to be a V shape bounce?
Also can I take a trade at this position or should I have waited for it to dip down further? Thanks in advance my friend.
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The bounce is what we use to classify a base .. So I would call that a base for sure.. but on this char there was already a panic from those 72s down to almost 50s and then back to the 72s.. so that was the trade.. now your working for a panic under the 50s..
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Let's start a chat and share trades
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Hi luc. I'm happy to find you here, i remember when you posted your entries in Tradingview in the Pennistock channel, impressive gains! I'm looking all your videos trying to improve your strategy. Now waiting for a potential breakout on NXT and STR basis. Good luck with your trading!
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Hey good to hear from you... Yeah I havent been back to the tradingview chat in a while because I'm just too busy with all this trading and our QFL slack has over 4,000 members...
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Great Video. I am new to crypto trading and I really appreciate what you are doing. I am trying to watch all of your videos and learn as much as I can.
I have been playing around with some small trades using what I have learned so far and it has proven profitable.
Thanks
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good to hear.. keep your trades small until you feel confident
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Luc, sorry you feel underappreciated. I want to assure you that you are VERY much appreciated. You have a community that eagerly looks forward to each video you put out. There are those (like me) that look forward to each post you make. Thanks for producing these videos!
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yeah, I just want to encourage viewers to upvote so that my message hits a bigger audience.. theres only a few thousand of us trading this way, in a sea of investors/traders that are often struggling to make a profit.
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Great video. As always. Thanks a lot!
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you do deserve more upvotes and exposure, I don't know why you're not trending ... thanks a lot
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Luc do you have a chatroom where we can share our scans or alerts to help each other with this strategy?
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Its a slack but its not accepting new members yet.. there are too many people in there for the moderators to keep up with.. hopefully soon the invite will be open again
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Let's start a new one!
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Didn't even know the upvote existed here. Just put one in.
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Luc, thanks so much for your videos. I'm learning a tonne and can't thank you enough! You're a good dude.
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Great Video Luc! Keep going with the videos.
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Hi Luc! I have already posted two questions but here comes the third! I have some experience in binary options trading and I was wondering if I could use the 5 min chart for day trading? How reliable is the 5 min chart? I mean I am really interested in day trading till I get those nice positional trades.
It would be great if you could share your views on this.
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I daytrade very often, but its not the same risk to reward, and its very very easy to have the price run away from you.. So if your drawing safe circles on those 5 min bars you will mostly win your trades, but every so often you wont, and the big price move can really hurt you. So you have to be quick on taking profits, and you cant put in too much size on those quick day trades. Thats why I encourage new traders to just take those regular 1hour candle position trades.. or if your looking for action than take some of the "Small Account Building" trades discussed in my earlier videos.. You cant lose much taking those in small size but you can still make good money...
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I was wondering if the same strategy can apply to forex trading too?
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Hi @quickfingersluc,
Thank you for videos on trading. It's very easy to follow and without all the jargons terminologies.
I have been practicing your methods in looking for a baseline and setup alerts in Coinigy. I another some successful trades and would love if I can post you a picture of where I draw my baseline and see if I am hitting the correct baselines?
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oh absolutly.. feel free to post your pictures.. either me or others will comment pretty quick and let you know if you are calling your bases correctly
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Do you think there is some manipulation of the long transaction times in order to promote BCC as the new, more reliable BTC?
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yup, I would think so.. Roger is really using anything at his means to push his agenda.. I will ofcourse trade and sold some free coins in BCC as I do with anything being argued over.. I dont predict the markets I just participate
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I'm eager to watch! It will be nice to learn more stuff from you. If possible, I would like you could teach us more how to trade on cryptos which can help us building small accounts, it's very hard to know when to buy and when to sell on those one which are so volatile. Other thing, is it still possible to join your trading group and the acessing the Basebreaking scanner? The old links are broken and it seems no one is answering when it will be opened up again. Anyhow, thanks a lot for all of your teachings, it's been helping me a lot. Merry Christmas!!
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Yeah the slack is still close for new ones.. Thats nothing to do with me, the admins decided that they need some extra guys to help moderate such a big group.. Im sure the doors will be open again soon
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Let's start our own chat
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Thanks for the video buddy, keep it coming!
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Luc,
I've only recently found you, and it seems that you've got some good solid material out there. Please keep producing. You'll find that in the end it will reward you. Thanks for all that you do, and your insight into trading cryptos.
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Hello Luc,
I really appreciate your videos and you taking the time to walk us through your trading process! I'm curious about USDT / Tether? I've noticed you're always looking at it on your charts. Is it safe to trade against? What's your money in when you're not trading? Tether?
Thanks,
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Hey @quickfingersluc,
I am trying to trade using your method, how can I join the slack room?
Thanks
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Luc I have your videos playing in a huge loop at my day job. I would love to see video how you can use this scanner in your trading method.
https://agile-cliffs-23967.herokuapp.com/
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Luc. Awesome job. I just started following the videos but I’m nervous about it and have missed some trades because of it. After you have found a solid base when do you typically percentage drop wise on the crack do you set a buy point? Also is that percentage from when it cracks the base (base level) or when it starts the rapid drop (panic). Thanks again
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He's talked about this before, that it depends on the chart. Go back and look at the average drops and bounces to get an idea what you can expect, and place your bids accordingly. Layer your bids so that you have more money available for larger percentages. When I was first starting, and sometimes when I'm still unsure, I do very very small trades, like $2 sometimes, just to get a feeling for the chart. I find I pay more attention to the market's response when I've got real money riding on it, and keeping the amounts tiny allows me to be objective -- not much to lose if it fails, but provides proof of principle. Do it enough times with tiny trades and start to build your own track record, then you'll feel more confident to take bigger trades.
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Thank you for everything Great Luc and thank you very much.. Also Merry Christmas!!!
You are the only reason I learned about trading and more about crypto.
I can't thank you enough.. I always upvote and like everything you post. Whenever I see a post from you anywhere.. Slack or here or anywhere I just like or reach without even reading it..
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You are very welcome.. I wish you the best in your account growing project... Lets ballon our accounts together..
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Wow!! You remember me.. I feel so great seeing this..
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Can you look at this chart and tell me if i made a mistake. I saw base #1 and #2. When #3 came i took it for a base, but I think I should have waited for #4. is it because the size of #3's jump wasnt close to #1 and #2?
(
)
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You marked 3 correctly, although not a massive bounce, but it came back and touched, and made nice profits where you marked 4. You could have sold #3 when it came back and touched the base. I have to start to be safe, or I sell the majority and then sell more and more. These trades sometimes take 12+ hours when looking at hour charts
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I am in a couple that are taking days to come around .....
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Hello Luc, we had an interesting discussion in slack about a trade, NXT had a "fat finger" of -60%, it turned out that it was not a "fat finger" but that many people bought due to an airdrop to get the free coins and then they left (apparently that was the cause of the fall in the price)
Some say that it does not matter and the trade qualifies as QFL, others say that because of that news it was not a fat finger and that trade is risky.
personally I think it continues to qualify as QFL because the price did not fall due to bad news that makes the currency can not eventually recover the price.
It would be interesting to know your opinion, thanks in advance.
https://www.coinigy.com/s/i/5a456c21c9c44/
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Thanks for all the awesome videos Luc. I am a dummy when it come to the basics of trading. So lets say i want to place a buy order in the safe circle below the base. Do the asks have to be in that price range. Meaning can i just pick a price in the safe circle even if it's not listed for sale on the price board.
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You can always set up a buy anywhere under the current market price.. when the market drops to your price you will buy.. If it doesnt get there then your order will remain unfilled until you cancel it.. no harm done
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Luc, long time lurker/watcher, first time poster.
Could you tell me what base currency I (you) should be trading in? I am down here in the states and would think to use USD, but most exchanges have us use BTC or ETH.
With both of those currencies fluctuating, I think it would be hard to tell if one actually made money on a trade. Even if the trade did make 30%, what if the exchange rate is not there when moving the money back to USD? If I would use USD I would know right off whether I made money. All the coin earnings eventually have to get back to USD anyway....to pay the rent, less the investment coinage.
Could you do an information video on exchanging your USDs (CAD) to a useful currency coin to trade with, and then back to the original USD? Can you point out where one should be watching the exchange rates to ensure they are keeping their winnings/profits?
Thank you for your what you do. MNBen
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You are way way way overthinking this process.. You should just trade the chart you are trading.. Forget about trading it back into fiat after every profit.. just keep some ETH and some BTC and some USDT and trade all those alts that pair against them.. and if the BTC/USDT chart breaks a base and panics, then trade that pair independantly too.. let the market decide which base currency your working with.. but avoid unecessary commissions and over complications (moving money from alts to fiat unecessarily) I think thats all to stressful and complicated.. As long as you are making profit on every trade your account will grow very very fast, no matter what coins your holding
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I am very new to this, and for whatever reason I am the most confused about when it is smart to trade ETH/BTC vs waiting for a good time to trade BTC/USD or ETH/BTC. I think I'm just not used to translating the values of the currencies in my head easily. But if I understand correctly you are saying not to overthink it, and if on my ETH/BTC chart people are selling in a panic, just treat it like I would any other chart and buy at the bottom when it seems good, and not worry about "well, but what is BTC to USD right now?". Maybe I am not even making sense. Thank you!
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What Luc is saying is you don't need to convert the currencies at all when you're trading. Look at one trade-pair at a time. You buy something low, you sell it high relative to where you bought it. You either sell everything you bought or you just sell your capital and keep the free coins.
Sometimes ETH/BTC will break a base but ETH/USD won't, so trade ETH/BTC that time. Don't think about the amounts in USD, except to make sure you're within your overall risk tolerance.
Sounds like what you need to do is pick a priority: Are you trying to generate cash income, or are you trying to earn free coins to hold long term?
If you're mostly trying to earn income, then stick to USD trade pairs, and always sell your whole position at the end of the trade. You won't keep any BTC or ETH to do many alt coin trades, so you'll be limited to whatever you can trade against USD. Careful: lots of alt coins that trade against USD do so at very low volumes. That can sometimes be good for volatility, but bad for liquidity: you could get stuck with something you can't sell at the price you want because there aren't enough buyers.
If you're mostly trying to build a crypto portfolio, then start with USD trade pairs, but leave your profits in as free coin. So if you buy $150 of something, sell $150 of it when you complete the trade and leave the profits as free coins. Eventually you'll build up a stock of BTC and ETH (and DOGE, LTC, BCH, etc) all for free. Then, when you trade those against alt coins, again leave the profits in the alts, and you'll be in them for free too -- if they crash, you didn't "lose" anything, but if they go to the moon, you'll be along for the ride free of charge!
If you keep your coins but still want money to pay the rent, you'll have to wait for bull markets that will allow you to sell little bits here and there without compromising your position. Or just keep your day job.
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Hey Luc! Thank you for all of your videos! I have watched just about all of them and they have helped me a bunch. Is there anyway to get an invite to the slack channel? I am very interested in your cryptobasescanner. Someone has created one for android and apple with the same name. Dont stop making your videos! You are changing peoples lives bro! Thanks again for all of your help!
Edit: Lol just got to the end of your video..yeah thats the scanner :-)
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Let's start our own chat
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Hi, this video is fantastic, thank you for posting it. I learned many, many things watching it. My son and I have watched it 3x each, I did what this chart was showing and what you advised with ripple and lend yesterday and it worked very, very well.
Please make more videos!
Thank you,
the mummy
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thats great.. Im glad you are finding my trading videos helpful :)
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Let me know if you are interested in starting a chat to bounce ideas and trades around
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No, please keep them coming. I was just referred to your youtube channel two days ago, really learning a lot about your style of trading.
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Hey Luc, Happy New Year !! Just wanted to thank you for all your support and encouragement over the last few months via your videos and blog posts .. I'm starting to get somewhere now .. and ALL thanks to you .. will stay in contact as I make progress .. Very best wishes for the year ahead to you and your loved ones - Keith :)
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Let me know if you are interested in starting a chat to bounce ideas and trades around
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Hi Luc, I'am very intrested to try your stratage but i have only one question on it. When I have draw 2 Bases and i start Buy in the save zone what if it dont comes up for 1 month or more? I look today some Charts and i see manny time after a 'Save zone' It would be more than one month to start winning. Please give me an answer of that question. Thank you for these Videos
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Hey Quickfingers Luc,
Great series! I've learned a lot from your videos, thank you for making them! I have 2 questions if you would be able to answer them. I'll start off by saying i'm fairly new to trading and am only playing with small amounts until I get the hang of it.
So, I have recently been trading on binance with eth pairs and have been doing good. However, with the rise of ETH recently all the ETH altcoins went down and kind of ruined the data. So my question would be, is it better to just stick with USDT pairs instead of ETH pairs?
Which leads me to my second question, if USDT is the way to go, which exchange would you suggest? Binance doesn't have many USDT options. I notice you use Bittrex a lot however they aren't accepting signups at the moment.
Thanks again for your lessons! You're one of the true genuine helper type in the community, you rock!
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Let me know if you are interested in starting a chat to compare ideas and bases since we can't get into the other one
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What do you compare all of your charts to? They all look a little different when comparing to USD, ETH, or BTC. I would also love to join the chat group!
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I realize u can compare to anything
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Just nailed my first real trade on EOS. Thanks for the help Luc! I was going to sell when it returned to the base, but it looked like it was gaining momentum, which it did. The chart where I bought and sold looks unreal. I'm so excited about the future. Someone please let me into the chat!
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@quickfingersluc I love your videos. You have helped me so much with my trading mindset this year - it's really remarkable. Thank you!
Are you located in the United States? I'm really discouraged that the new tax laws going into effect here on Jan. 1 will affect my ability to day trade profitably. Maybe I'm over thinking it...
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I hear you, those taxes do take some of the fun out of trading.. But no im not in the US so I dont have mush advice in this area..
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Hi Luc, I've analyzed all the charts on Bittrex, including Ethereum, Neo, BCH, and 10-15 more using your base break method, and now know when to buy in using your method, I've marked them up, but there are only a small handful that may break in the next coming days. I'd love to buy in on a broken base daily so I can have daily trade sales, since I only have a 1k account, and just looking to make a 10% gain each day. Any advise? Even 2 smaller 5% trades a day will do. Should I trade using the 5 minute view instead? I just don't want to be waiting around for days if that makes sense, I do have alerts on all that will break, but estimating it'll take a few days for them to come back down. Looking for daily trades. Thanks! I saw all your youtube videos, practiced with successful 5-20% trades with your method, and I signed up here per your instructions, and looking forward to the slack invite please.
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Let's start a new chat
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Luc, Can't thank you enough for these videos. I've been playing around with a very small account to get the hang of things and have succeeded using your techniques. My first trade was 15% profit, using your base breaking technique. I've only lost on 1 trade so far, due to eagerness, impatience, and not studying trend of chart. And I've also missed out on a 25% profit by selling too early (kicks self in head). Please keep up the great content, it's much appreciated!
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Let's start a chat and share trade ideas
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OMG yesss... xrp please im bleeding my guts out...
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Don't forget, it's not a mistake to sell at a lower profit if the chart didn't give you reason to believe 25% was realistic. Greed and fear are what kill most traders!
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Hi, finally found you LOL...
Was searching luckyfingers, lukes fingers... all sorts of weird stuff coming up... YAY :)
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Great video Luc, thank you for sharing your knowledge with us. I learn something from each and every video.
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Hey luc. Ive just recently started following you and youve inspired me to get into trading. I had no clue what i was doing before watching your videos and now i feel confident placing orders to buy and sell. Thank you for taking the time out of your day to help those of us who want to learn and grow financially in this market. I look forward to the day where i can join the slacker channel. Keep up the good work.
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Nice, it is alot of fun to trade all day.. And you cannot beat this action..We all make money together :)
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Let's start a new chat! There's at least 20 people who want to join he other chat
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Luc! I'm so grateful to you and your trading strategy! I'm so happy it was the first thing I found when I thought about trading cryptos after my friend finally talked me into checking them out. My trades have all been successful, now I'm just waiting for Bitfinex to re-open to new users so I can actually trade some real volume... The volatility on cryptopia is great for quick turnarounds, but I'm scared to trade more than a couple hundred dollars for fear of liquidity issues at sale.
Question: In the video you say you have alerts on your phone every time bitcoin falls. What app / service do you use for that, and is it any fall or just breaking bases (i.e. do you have to set the alerts first, or does it tell you whenever it drops like 5-10% in an hour?) I'm using the coinigy alerts, but there's a delay to my email, and requires that I find bases ahead of time. Would be great to get notified any time there's a big drop, then I can just check if it's below a base or not...
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He is using ztrader, I use Bitcoin Checker
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Hey, quick question:
What should I do when I see an ugly chart?
Or a brand new coin?
Should I just skip them?
Focus only on the good looking charts, right?
This is what I'm talking about:
I mean they do have pretty clear bases but isn't it kinda risky? It feels weird trading this... lol
P.S. Dude you changed my life by showing me how to make money online so fast, so easily. Thank you, please let me know where to donate!
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I dont take donations.. You can always upvote me here, to help me get noticed, but as for money, I make all of mine in the markets. I would never want to ask anything from anyone. As for the above question about the chart.. as with anything in trading you just have to have enough information to recognize a pattern and count how many times that pattern repeats, then you will know your odds of a successful trade.. then you trade small to start till you feel confident adding more size... but large percentage trades dont take much money to make alot.. I still trade these small trades with small money, because I just love trading..
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Follow up: how big do you go on these small trades? (I know that you trade with big amounts so small is a relative concept :p)
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Hey Luc, fairly new to trading Cryptos, and just discovered your great content last night while browsing. Have already watched quite a few of your videos and got my new STEEMIT acct to follow more in depth. Couple quick questions...
As always, love the content and appreciate everything I've learned thus far!
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Also, I'm not sure what it is exactly, but I would like to join the slack chat if possible! Thanks.
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Disregard question #2. I just watched another one of your videos which covers this exact topic! Still curious about question #1 though if you have an opinion
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Thanks for sharing the knowledge. I feel like I can keep myself out of trouble at least most of the time now.
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Hey bro I just found your videos and have been doing well today since doing so, thanks for your expertise you are appreciated, keep contributing to this crypto movement i just shared you on my twitter page
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im new to trading luc. right now i have a 500 dollar fund in binance. with ltc,xrp and verge, so right now ripple has been going down and i have ltc can i trade ltc with usd and make money off that
like I SAID IM VERY NEW
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Hi luc thank you so much for your videos, your channel is brilliant!
I notice most of your charts are a USDT pair, is this strategic choice?
USDT seem to offer less choice than bitcoin or ethereum
Are they better charts?
Easier to work with?
Is it more ............? I don't know, I'm guessing.
I'm new to this so make allowances. But it would be great if you could talk about it a little in a video sometime.
If you have already talked about it and I didn't find it. sorry
Thanks again for your help.
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Thank you, Luc! You've got my votes. Since discovering your video series a few days ago, I've binge watched every installment of your Vblog and started using the positional trades with enough initial success that I'm totally hooked. To everyone asking questions of you, Luc, I encourage them all to spend their own time first watching the videos start to finish. Then, if questions persist, to search your video transcripts with keywords they're looking for and select those words to navigate directly to that section of your video. It's easy to do and instructions are all over the web if folks need instruction on how to search a video transcript. It's a useful and underutilized tool to find what you need quickly on videos.
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I get the panic and the big dips but how do you know when the little dips will stop going downward. Thats the problem i have is knowing when the little panic dips will stop so i can buy. Thanks Luc for all you do! I will have to get really keen at this before i would ever attempt a real trade. I'm still to unsure of myself.
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Just go back and watch a few more of my bi
gining videos and you will have a good idea of how to approach buying those panics.
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Hey Luc, I just wanted to say that I really appreciate you taking the time to make all of these videos. They have been extremely informative and I have truly have learned so much by watching your method. I will continue to follow your blog and I look forward to becoming a more active member of the steemit community.
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Luc, I just wanted to pop in and tell you how much I appreciate these videos and your willingness to share your knowledge with us. I stumbled upon these about a week ago as I was searching for solid day trading strategies in the crypto world. I have spent the last week watching and rewatching as much as I can in order to master these techniques. I am far from done, but I understand so much more from my week of study than I have in the last two months of searching.
I was not a member of the steemit community initially, but I wanted to honor your wishes of upvotes and comments from those who find value in your videos. I hope you continue to post. One of my greatest desires is to become successful and share that knowledge with anyone who will listen. You are doing exactly what I have dreamt of doing for years, and I hope you know how much of a positive impact you are for people.
Keep up the great work! And THANK YOU!
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