Hi, thanks for your help, you already changed my life! In regards to the slack channel... is there a specific reason why they dont allow more members? I mean if its a cap imposed by slack, wouldnt we all benefit by creating a discord channel for example? I would like to know the reasons behind their thinking. Thanks again , you are making a difference.
Luc you should record one day of trading. That would be so awesome to see. Watching where u enter, the moment you enter.
I say it because we dont get the same learning when we look at the chart. Like you said. Balls of steel, its different to see it happening than to see what already happened in the chart.
It's an interesting time when all eyes are on alts while television stations are all talking Bitcoin for the past month. Thanks for sharing the new tool info.
This is a great tool. As I was looking through the charts on this tool, I came across one that generated a question.
If you look at GBG, it definitely looks like a panic broke a base. His buys look well-timed, but the price has simply moved sideways for the last several days after that initial panic. Is it now still a good buy? Would you simply hold and not initiate a position at this point? Start to worry? I am just trying to understand when the initial panic becomes the new norm. I am inserting a screenshot of how the chart looks now since it may change between now and the time someone answers.
This method has definitely helped me out and I appreciate all the knowledge-sharing and videos.
Thanks Pete I just sent you a $15 tip in Ether at your donate page. https://qft.hodloo.com/about/ Keep up the good work. Ill send larger amounts as this tool progresses and my profits multiply
Thanks for all the info I appreciate the hard work and effort you put into helping others. I have a request and would prefer to send a pm, is there a way for me to do so? Or when you have time, which I am sure you are short of, can you email me at [email protected].
Hope to hear from you soon and once again keep up the great work
Just sent Pete some LTC for all the hard work, it wasn't much but hopefully it helps with further development and I go from a trader with almost no confidence to one who is confident in my future trades.
Is it just for me or is the last bar in the tool from 2017-12-29?
I understand that there are no live charts but in which interval will the bars in the tool be updated?
Thanks Luc,, you da man. you have simplified trading for me. I am 81 and it has
to be simple for me. I am having a hard time with my patience but I am gonna stick to
the plan. I keep watching your .post on you tube and steemit. Im having a duce of a
time trying to get my coins out of open ledger, up until now I have just invested and
never traded or sold anything. Kinda like real estate, easy to buy and hard to get rid
of. I really appreciate you and hope you continue.
I'd personally be willing to pay to get in to the slack channel... or Promote Luc, or do whatever is considered the 'steemit' way.
Maybe one of the owners of the channel can comment.
If it is never going to be opened up to new members, it would be better to know so that we might create a sister channel.
Hey guys! Like many of you I have found Luc's strategy and videos to be very beneficial and exciting. However like many of you I was a little late to the game and am not able to be in the slack channel. I am interested in talking more and sharing with other like minded traders as well as joining in the community.
Hi Luc, 1st of all thanks again for another great video. Is there any way for us newbies who are not in the slack yet to use this great tool pls ? Would be willing to donate to the creator, as it would be a huge boost to newbies like me, and will give us much more confidence going forward..
Hi Luc, To have someone who actually knows what they're talking about, is willing to share it, and can do it in a way that is easy to understand (even entertaining I might add) is awe-inspiring.
Anyway, I haven't done a real trade yet so I can't immortalize you just yet. lol. I have been doing fake trades using S/R on demo platforms trying to do exactly what you say to do.
In the BTC chart screen shot (see link) I put support at 12.5 and resistance at 14.2. so I bought $1,000 of BTC at 11.5 and take profit at 12.5. Is that right?
First, many many thanks for all the work you're doing here - learning a lot from you and it is much much appreciated.
I have two questions about bases (which are kinda related) -
What do you do with coins who consolidate for few days (2-5 days). The base is waaaay behind and no panic moves been recorded over the past few days. Would you just ditch them and wait till they become volatile again?
In some of the videos you detect bases in a zoom out view (kinda 2-months chart), which means that in some cases the base if formed over 10 hours or so, so as the crack. Do you have a 'time cap' where you won't call a base base cause of the time it took the buyers to push the price up?
I know I said 2 questions, but while writing the previous one more came up to my mind - at what point you drop a trade, i.e. a base has been spotted, so is a crack, but the coin begins to consolidate over 5-6 hour around the buying price. Would you just trade out and break even?
Hey Luc. Thanks for another video and the new tool. :D I've joined the discord group and forum created by others in the community and it has helped so much already.
Made my first successful trades two days in a row. Excited to keep earning.
Oh, this is great! I hope new markets come online soon because, being a true newbie, I have not been able to get onto the Bittrex exchange yet. I've been able to switch back and forth between the tool and Binance charts to draw -some- correlations between bases on each, but it's not exactly straight forward.
I would encourage supporting Binance because it is a great exchange for altcoins and has been more accepting of new account sign ups lately than a lot of the other larger exchanges, so a lot of newbies are over there. This would help the true newbies a great deal.
On the 1-hour charts on major coins, the bases are pretty much universal. They might differ by 1-2%, but we're looking for 10-20% returns, so the differences wash out. The exception is low volume exchanges, because they either have ridiculously big or ridiculously small swings :P
Hi! You seem very kind and are very active on this post. Thanks for that! I'm also very new in the sense to know when to sell. I've been pretty good at picking the right spots to buy at the bottom of the dips but then I sell to soon and my profits are between 3-5%, and when I look at the profits, they're not worth all the energy/time put on the charts.
Yes another one of your videos. I'm going it watch it later today because I have to go to work now. The chart website looks really promising at first glance. Getting back with a proper comment and upvote later! Keep up the good work you've been doing for us all!
Just watched the video. Amazing work. I so need this I'm completely lost in my trades. I too wish to join the slack even as a fly on the wall. Hopefully still be able to enjoy this fantastic scanner without being in the slack. Ready and willing to donate!.
Oh Btw, made my first two successful trades in the past two weeks after watching all your videos and using the base method. Finding trades, that's the hard part. Big thanks for sharing your knowledge, Luc.
Thank you for sharing your knowledge and wisdom. I’ve only recently got turned on to trading and I’m trying to learn as much as possible every single day. I found you via your videos on YouTube and I would love to get more involved with your community and learn as much as I can about your style of trading. I will keep watching your Steemit for the slack invite. If you or anyone else knows of other valuable resources to further educate myself or get more involved with this community, I would be very thankful. Thank you.
Thanks Luc...appreciate you spending your free time helping us learn your trading method. Your videos are great and easy to understand and I can tell you love what you do. I have a little bit more studying to do before I jump in but I'm getting more confident everyday looking at the charts.
Luc, I am one of your followers that seems to zoom in too much on the charts. I find myself looking at only a couple of hours. I have to remind myself to pan out 1 month and READ the chart. Thank you for the reminder in this vid. Keep up the good work!
Thanks for the new video Luc. Always on point and very inspiring. Hope to join your community in the future. Tried an app called CryptoBaseScanner, but this looks much better. Look forward to more updates and will be submitting a donation.
Sweet, any donation you give Pete will help encourage him to continue working on this.. I really think donations is the best way to promote a tool (instead of subscriptions) .. Its really only a Bata version so far...
Finally started to go through all of your videos on youtube and I must say they have been very helpful. One question, for a newbie trader, which exchange is the best one to use? I am guessing one that offers the most alts as you have one source to check on trades. Also, when you fund that exchange do you recommend funding with the likes of LTC or BCC or ETH? Once you fund the account I assume you have to purchase whatever alt coin you want to trade by buying it with the coin you originally funded the account with. I am staying away from BTC as their fees are way to high, when I tried to send Pete $15 using BTC the fee on coinbase was over $18, no frigging way. So I bought LTC for over $3 and then sent the $15 of LTC for .05 cents.
When you are determining how far to wait once a base is cracked you say look at the history of other base cracks, do you use the shadows or the real bodies in measuring that distance?
To establish baselines or bases, you need to easily spot clear cracks/dips. High volume of buyers and sellers is also something Luc repeats in his videos. Therefore, larger, more established exchanges are best for this trading method generally speaking, especially for newbies.
Luc shows in at least one video that he traded on Liqui, a cool exchange, but smaller than Bittrex or Binance or Kraken. He showed a situation where that exchange had a larger drop than larger exchanges. Big trades, but he ultimately decided to move his cryptos out of liqui. Even someone experienced like Luc will need to move coins off an exchange if fearing issues on the exchange will inhibit entering or exiting trades. You typically see issues on smaller, less established trading exchanges.
Your last question is one I've been asked and one I would think is a concern to many people. I've wondered about this too. Luc mentions on a few videos that he plays obvious, steep, voluminous cracks. He does "nibble" on smaller ones, but he remindes newbies to play it safe. The best way for us to play safe is to look for those steep, big cracks. Set buy-in to make money and keep your risk as low as possible, so set your first purchase target for 25% below the most recently established base and two more buy targets at 10% lower each in case the crack becomes huge . To get good at seeing these, you'll need to look at the month, or even three months. You might not be trading as often only playing the big cracks, but they're safer to start with. Once good at that, then play more often, use different currency pairs, try smaller cracks. It's less about "distance" between cracks and more about severity of cracks and volume. Find where those happened historically to spot if the setup you're looking at in the present seems to match up for a predictable dip and bounce.
Anyone else want to comment on the question or my response?
I always say, if you sell in profit that was a good place to sell :) Sorry your question was too vague for me to really answer.. Are you refering to all my free coins?? I sell usually 30% of a the coins I hold free, when ever I feel like, Omg thats ran up crazy... and then I repeat the process next time i have that feeling..
So i have done probably 25 trades using your method. Im about 21/25 on making a profit. Im still holding 2 of them. It's been 8 days. do I just keep riding it out or cut my losses?
Here are some of my thoughts, what do you think?
I am looking for 5-6% gains on each trade. Where do you set your sell limits/alerts?
I think i realized in this last video, that we are profiting of the reaction to the panic. A few buys I bought at the base, not below. they happened to work out for me.
I currently have 5 different holdings. I cant decide if I put a 20% in each, or grab 1 or 2 and put 50% in each.
Thank you for the time you put in these videos. I have almost doubled my BTC in 2 weeks.
5-6% is a low expected return on a multi-day trade. You should be looking for 10% bounces on those, at least. Can you post a link to the charts with your buys indicated so we can check the bases?
Following this chat as also struggling with the the decision of how long i should keep a trade on. If we base our trade on sharp moves, waiting more than 15-20 hours would be considered as low volume reaction, not panic. If I get this right....
Luc you are the man! Have been watching your videos about 3 weeks now and went from a HODLer to a semi positional trader and have been LOVING it. Thanks for all your hard work. Really appreciate it! There is sooooo sooo much crap out. Your stuff is so fresh and simple.
Which exchange is this tool connected? I am new to this trading but I understand that you buy at bases. But all bases shown as in past...so how do I buy in past or I wait for new base to show up and then place order at that exchange? Help a noob :)
Hey Pete...sent you a little crypto for your work on the scanner. Sounds like a game changer for us amateurs.
Also, guys, Bitfinex opened back up for new account but you have to have a minimum of $10000 to trade. Man, that sucks!
I've found a couple of free tools that helps with trading. On CoinmarketCap if you go to trending you can look at the coins that are trending up and down. Also, you can see last 1 hr, 24 hours, and 7 days.
Another free resource I found was on trading view. I'm not going to post the link because I don't know if it is within the rules but if you go to trading view and /cryptocurrency-signals/ you will find a tool that allows you to look at the history of the coins. You can also change the parameters.
I plan on making my first Quickfinger trade this coming week once I find a good opportunity and figure out how to make the right entry and exit points using Coinigy. Thanks again guys!
Luc, got any Epic fish yet? Must be getting close!!
I'm new to crypto, my friend talked me into it right before the peak in December. I knew enough about markets not to buy in at the top of THAT curve, but he gifted me a small amount of Bitcoin to force me to be interested in this whole crypto thing. Luckily, stumbling across your blog was one of the first things I did in my research.
I finished a PhD in Physics in February last year and traveled for a bit, then became completely directionless. I'd considered going into finance (seems to be a thing physicists do), but the idea of "TSX Suits" sounded like a nightmare.
Your trading style is so "obvious" once you see it. Getting the confidence that I can get into trading and avoid the 90/90/90 rule has literally changed my life. It's the trifecta of jobs: I absolutely love doing, pouring over the charts and the data... I seem to be naturally good at it... and of course, it's profitable!
I've been trading your method for about a month now. Today was my most profitable day yet, and I'm getting more and more confident about my trades. I chickened out on some of the panics recently and took profits too soon (seems to be my MO!)
This is a great tool, I can't wait until it becomes a scanner! That will be worth a monthly subscription for sure. I'm really serious about making this into a career. Is the lack of market scanners the only reason you haven't switched over full-time?
Thanks for all the info! You’ve been a great resource and I just want to say thanks for taking the time to explain in detail how what you do works. Cheers!
Love your videos! My favorite mentor :-) . One qu: When coins are going up so fast, do you ever buy at the base, in case it takes a bounce off there (instead of breaking it)? On a lot of charts, if I draw bases, waiting for the crack... it doesn't happen. But it does rebound off the base. Strategy?
Nope.. My method is successful because I am buying panics.. I need context in a trade.. So we know where there is a base (a large amount of buyers) we know if it cracks that base, it could lead to panic selling.. Then if that happens, prices get unreasonable because everyone is jumping the bid trying to sell.. and then due to price discovery we should get a return to where buyers were surprised... That's the whole story.. But to just buy where other buyers are sitting, you could end up being the one panic selling..
Thanks for the reply. I'd love to join the slack channel - any updates on how/when that will be possible? I have a few edits for Pete on his base-software - should I just post here?
So I have been going over some of the charts using Pete's scanner, I am finding that the prices and times don't quite match what is on Bitrex when using Coinigy to view them. I am able to determine the bases that were marked in Pete's scanner and set an alert on Coinigy, can you take a look at my chart and let me know if I am using your system properly? Here is the link https://www.coinigy.com/s/i/5a5aa73c254df/
Also, any recommendation on which coin would be a good account builder for a newbie outside of ETH?
Hi Luc ! i am new to your method and am one of the ones you mention needs to get some confidence :) ... i took a look at the new tool f/Pete - amazing! However, I noticed he's doing something that I found myself doing too much... which is not reading a base correctly or jumping in too early. Here's an example:
How would you have traded this better? His trades had him in a lot of worry for just a tiny profit. I have done a very similar thing before and when i see the market go away from me for a few days it's very frustrating.
In one of my videos I talk about participating in every bounce.. this is very important to master.. First he didnt continue to buy as it went lower.. then he didnt sell some when he had his first bounce.. I would be trying to get out some at break even on this trade because I never continued buying as it went lower.. You have to want those lower prices, and be happy as it continues to drop, because the panic is even more exaggerated.. Then, in this case he didnt get a full bounce back to the previous base. (and that happens rarely, but it can happen) then if he sold atleast part, he would be better able to buy the next panic and make it all back and more.. I rarely get a coin that doesnt fully bounce and give you a bit of a battle. So when it happens I get excited, finally there is a battle to be had.. But usually everything works on the very next drop and oh well back to making easy money again..
Luc, im wondering one thing: How do you consider trading from daily chart? In this case eos/usd
i bought near the recent dip in 1h chart, but missed the bounce and just sold off loosing little, but if i zoom out on daily chart it looks we are in a safe circle under base of 7.4, so would you ever be considering buying now under safe circle looking on a daily chart?
Does anyone feel comfortable enough to take a look at this chart and help me. I saw on Cryptobase scanner that CRB cracked its base so I went to Pet's base tool and had a look. It doen't show all of the data Coinigy does and I would not have classify this as a base as cryptobase scanner did. But Pete's base tool showed a strong previous base and I went ahead and marked a few more as it appeared on Coinigy. Now based on what I determined to be new bases I also set up alerts. Please have a look at this chart https://www.coinigy.com/s/i/5a5b147fc2e68/ and let me know if I am correct in my thinking or if I am just totally lost and need to reassess my new skill set.
Hey there, hope I can help. I would say as per luc says in this video that you may be too zoomed in to be trading safely, try zooming out to two months so you can get a full story of the chart. I went ahead and marked my own bases and there aren't many with large bounces for CRB. Despite this, what you've marked is clearly a base. However trading so zoomed in means a couple things (a) you may tempted to buy AS SOON as the price falls below the base (which means it could drop further and you risk breaking even at best), (b) you won't see the story of the chart from the past two months and wether previous bases have been respected - in fact the price has been slowly grinding up and hasn't had any base cracks in two months. Further, if the price continues to grind down like it is, (without a big panic drop) - it won't be as likely to bounce up to the base, as the coin holders wont be as surprised of the price drop and buyers wont be as keen to snap up a bargain. There is also a base at around the 0.000090 mark, however due to the reasons just mentioned, this isn't a base you want to trade off due to the lack of panic as it past that point.
I'd say (that even though luc defines a base from the bounce) that there is clear support for the price at the 0.0005 mark as it was tested multiple times in the first week of this year without cracking. So if it were to grind all the way down to there and then DROP that would be the base you'd want to trade off . Hope that helps!
Other traders feel free to critique this critique. Can't wait to join that slack room!
TL:DR that's the current base, but zoom out to two months view, and that base will ONLY stay true if there's a large panic drop below it, as opposed to the price grinding down - otherwise trade off the 0.0005 mark.
I did keep my charts at the 1h and zoom out to about the 1 month mark but also find it difficult to effectively read the bounces. I did not trade on that one but was trying to figure out If I at least had something going right. I did get in on an ETH today. Here is the chart https://www.coinigy.com/s/i/5a5cc2b4a382d/ let me know what you think.
Really dumb question, i watche the video and I have coingy, how can I use Petes scanner? where do I locate it? Willing to donate if I can use the tool....
I just refresh the page and it does update, but the charts are not up to the minute. They lag by a few hours from what I see. But the base set on the chart is a good one for you to use I believe
You are very welcome.. Im glad you like my content.. Although I dont have much time to keep up with everyone, since theres soo much to trade out there.. keeps me very busy..
I believe that Luc would just get out of position, on a bad trade. So basically, take the loss and wait for new entry - based on the broken base strategy.
Please post a day trading video! I'd really love to see how you satisfy your trading itch while waiting on those position trade! Thank you for all your work!
I've watched all your videos like three times! I've tried to apply your method. But i'm doing something wrong, i think... My account is not shrinking, but it's not growing either. Oh well, just gonna watch all of your video's again! Hope to see new video's soon. YOU ROCK!!!
Looking forward to Slack opening up to new members.
Searched for your handle on Telegram, but only found what appears to be an imposter there, just FYI. Nothing posted, but some dude using your handle.
Thank you soooo much, Pete and Luc, for your work. You've inspired me to pay it forward and teach some of the hard working folks in my community about your elegantly simply trading methods and turn them on to your videos. My dad -- a stock broker for 40 years -- stressed out about the markets his entire life and never explained charts well enough for me to gain confidence to trade. I didn't want to follow in his footsteps or take over his fat book of business due to lack of confidence. I've only been a holder until starting to trade this last year here and there. That's all changed in the five days since binge watching our videos.
What you do on your videos works so well I still find it hard to believe -- and my dad sits there and questions it all, defaulting to wanting to look at technicals and worrying about the fundamental stats, poor guy. I'm sure he'll need to see me hit 80% win rate for a year before he accepts your methods. Not me!
You really boil it all down to the clearest elements and most dominant price actions. I am twice as likely to make a good trade after watching your vids: from about 45% success rate to now well into 80% success/safe-gaining trades. So grateful! I started playing smaller cracks and volumes last 24 hours and am still getting safe gains up of 15% daily and zero losing trades today on six trades. Amazing!
Hi Luc, Another great video! Thanks a ton for all the great trading advice. Have you considered signing up for BAT (Basic Attention Token)? They basically have a publisher program and similar to steemit or patreon users can donate BAT to their favourite creators through the Brave browser. I'd love to donate some BAT to you so maybe you can let us know in case you sign up. Keep up the good work! Cheers
Hoping that the slack chat will soon accept new members! More power to you Luc all the way from the Philippines!
I'd also like to get into your slack. Can you please provide an invation link?
Thanks Luc and Pete your work is really helping me out. Keep on!
Me too. I missed the boat. Please open up for new members
There's a forum! It's starting to sound like there are more QFT people NOT in the slack channel!!
https://quickfingers.io
Site is down!?
Hi, thanks for your help, you already changed my life! In regards to the slack channel... is there a specific reason why they dont allow more members? I mean if its a cap imposed by slack, wouldnt we all benefit by creating a discord channel for example? I would like to know the reasons behind their thinking. Thanks again , you are making a difference.
Luc you should record one day of trading. That would be so awesome to see. Watching where u enter, the moment you enter.
I say it because we dont get the same learning when we look at the chart. Like you said. Balls of steel, its different to see it happening than to see what already happened in the chart.
Thank you man!
It's an interesting time when all eyes are on alts while television stations are all talking Bitcoin for the past month. Thanks for sharing the new tool info.
This is a great tool. As I was looking through the charts on this tool, I came across one that generated a question.
If you look at GBG, it definitely looks like a panic broke a base. His buys look well-timed, but the price has simply moved sideways for the last several days after that initial panic. Is it now still a good buy? Would you simply hold and not initiate a position at this point? Start to worry? I am just trying to understand when the initial panic becomes the new norm. I am inserting a screenshot of how the chart looks now since it may change between now and the time someone answers.
This method has definitely helped me out and I appreciate all the knowledge-sharing and videos.
Thanks Pete I just sent you a $15 tip in Ether at your donate page. https://qft.hodloo.com/about/ Keep up the good work. Ill send larger amounts as this tool progresses and my profits multiply
Thanks for all the info I appreciate the hard work and effort you put into helping others. I have a request and would prefer to send a pm, is there a way for me to do so? Or when you have time, which I am sure you are short of, can you email me at [email protected].
Hope to hear from you soon and once again keep up the great work
Just sent Pete some LTC for all the hard work, it wasn't much but hopefully it helps with further development and I go from a trader with almost no confidence to one who is confident in my future trades.
Good on you for supporting!
Is it just for me or is the last bar in the tool from 2017-12-29?
I understand that there are no live charts but in which interval will the bars in the tool be updated?
I noticed this too. Came here to see if I could find an answer
This is being discussed in the slack and Pete is updating the charts now
There is a method in bittrex api v2.0 (experimental) that gives the candle data for desired market. Worth a look
Thanks Luc,, you da man. you have simplified trading for me. I am 81 and it has
to be simple for me. I am having a hard time with my patience but I am gonna stick to
the plan. I keep watching your .post on you tube and steemit. Im having a duce of a
time trying to get my coins out of open ledger, up until now I have just invested and
never traded or sold anything. Kinda like real estate, easy to buy and hard to get rid
of. I really appreciate you and hope you continue.
Hi Luc, is there any way to enter your slack? It seems blocked... Thanks for your time
there still is no invites for the slack but you can join the discord: https://discord.gg/DZNaM7k
I'd personally be willing to pay to get in to the slack channel... or Promote Luc, or do whatever is considered the 'steemit' way.
Maybe one of the owners of the channel can comment.
If it is never going to be opened up to new members, it would be better to know so that we might create a sister channel.
Let's create our own. There's a ton of people who want to dicusss trades
Hey guys! Like many of you I have found Luc's strategy and videos to be very beneficial and exciting. However like many of you I was a little late to the game and am not able to be in the slack channel. I am interested in talking more and sharing with other like minded traders as well as joining in the community.
With a Telegram Supergroup we can have up to 100,000 members. Here is the link https://t.me/joinchat/GUIO9g_LU0L95mqgVhsxyQ
Hi Luc, 1st of all thanks again for another great video. Is there any way for us newbies who are not in the slack yet to use this great tool pls ? Would be willing to donate to the creator, as it would be a huge boost to newbies like me, and will give us much more confidence going forward..
https://qft.hodloo.com/
Hi Luc, To have someone who actually knows what they're talking about, is willing to share it, and can do it in a way that is easy to understand (even entertaining I might add) is awe-inspiring.
Anyway, I haven't done a real trade yet so I can't immortalize you just yet. lol. I have been doing fake trades using S/R on demo platforms trying to do exactly what you say to do.
In the BTC chart screen shot (see link) I put support at 12.5 and resistance at 14.2. so I bought $1,000 of BTC at 11.5 and take profit at 12.5. Is that right?
https://www.coinigy.com/s/i/5a5e2c4ea435d/
Hey Luc
First, many many thanks for all the work you're doing here - learning a lot from you and it is much much appreciated.
I have two questions about bases (which are kinda related) -
What do you do with coins who consolidate for few days (2-5 days). The base is waaaay behind and no panic moves been recorded over the past few days. Would you just ditch them and wait till they become volatile again?
In some of the videos you detect bases in a zoom out view (kinda 2-months chart), which means that in some cases the base if formed over 10 hours or so, so as the crack. Do you have a 'time cap' where you won't call a base base cause of the time it took the buyers to push the price up?
I know I said 2 questions, but while writing the previous one more came up to my mind - at what point you drop a trade, i.e. a base has been spotted, so is a crack, but the coin begins to consolidate over 5-6 hour around the buying price. Would you just trade out and break even?
Thanks again for your help
Alon
Hey Luc. Thanks for another video and the new tool. :D I've joined the discord group and forum created by others in the community and it has helped so much already.
Made my first successful trades two days in a row. Excited to keep earning.
Can you share a link to the discord & forum?
Please share the links!
Thanks Luc, my trading have improve alot from your strategy! Thanks for sharing.
Oh, this is great! I hope new markets come online soon because, being a true newbie, I have not been able to get onto the Bittrex exchange yet. I've been able to switch back and forth between the tool and Binance charts to draw -some- correlations between bases on each, but it's not exactly straight forward.
I would encourage supporting Binance because it is a great exchange for altcoins and has been more accepting of new account sign ups lately than a lot of the other larger exchanges, so a lot of newbies are over there. This would help the true newbies a great deal.
On the 1-hour charts on major coins, the bases are pretty much universal. They might differ by 1-2%, but we're looking for 10-20% returns, so the differences wash out. The exception is low volume exchanges, because they either have ridiculously big or ridiculously small swings :P
Hi! You seem very kind and are very active on this post. Thanks for that! I'm also very new in the sense to know when to sell. I've been pretty good at picking the right spots to buy at the bottom of the dips but then I sell to soon and my profits are between 3-5%, and when I look at the profits, they're not worth all the energy/time put on the charts.
Any input on what to do? thanks!
ha ha ha thanks for share post
I'm ready to get in there! Thanks for continuing to share your knowledge
Do you have a telagram group?
Yes another one of your videos. I'm going it watch it later today because I have to go to work now. The chart website looks really promising at first glance. Getting back with a proper comment and upvote later! Keep up the good work you've been doing for us all!
Just watched the video. Amazing work. I so need this I'm completely lost in my trades. I too wish to join the slack even as a fly on the wall. Hopefully still be able to enjoy this fantastic scanner without being in the slack. Ready and willing to donate!.
Oh Btw, made my first two successful trades in the past two weeks after watching all your videos and using the base method. Finding trades, that's the hard part. Big thanks for sharing your knowledge, Luc.
Wow!!! Thanks Pete! Thanks Luc! This is fantastic!
Thank you for sharing your knowledge and wisdom. I’ve only recently got turned on to trading and I’m trying to learn as much as possible every single day. I found you via your videos on YouTube and I would love to get more involved with your community and learn as much as I can about your style of trading. I will keep watching your Steemit for the slack invite. If you or anyone else knows of other valuable resources to further educate myself or get more involved with this community, I would be very thankful. Thank you.
You really done Amazing hard work to help others..
WOW
Thanks Luc...appreciate you spending your free time helping us learn your trading method. Your videos are great and easy to understand and I can tell you love what you do. I have a little bit more studying to do before I jump in but I'm getting more confident everyday looking at the charts.
Thanks also Pete for your work on the new tool!!!
Luc, I am one of your followers that seems to zoom in too much on the charts. I find myself looking at only a couple of hours. I have to remind myself to pan out 1 month and READ the chart. Thank you for the reminder in this vid. Keep up the good work!
Thanks for the video Luc, this tool looks amazing, Pete has done some amazing work with it. Keep up the good work you two :D
Great work as usual Luc! love your videos. I'll use the tool and report back my findings as I am a beginner trader.
Thanks for the new video Luc. Always on point and very inspiring. Hope to join your community in the future. Tried an app called CryptoBaseScanner, but this looks much better. Look forward to more updates and will be submitting a donation.
Sweet, any donation you give Pete will help encourage him to continue working on this.. I really think donations is the best way to promote a tool (instead of subscriptions) .. Its really only a Bata version so far...
Finally started to go through all of your videos on youtube and I must say they have been very helpful. One question, for a newbie trader, which exchange is the best one to use? I am guessing one that offers the most alts as you have one source to check on trades. Also, when you fund that exchange do you recommend funding with the likes of LTC or BCC or ETH? Once you fund the account I assume you have to purchase whatever alt coin you want to trade by buying it with the coin you originally funded the account with. I am staying away from BTC as their fees are way to high, when I tried to send Pete $15 using BTC the fee on coinbase was over $18, no frigging way. So I bought LTC for over $3 and then sent the $15 of LTC for .05 cents.
When you are determining how far to wait once a base is cracked you say look at the history of other base cracks, do you use the shadows or the real bodies in measuring that distance?
To establish baselines or bases, you need to easily spot clear cracks/dips. High volume of buyers and sellers is also something Luc repeats in his videos. Therefore, larger, more established exchanges are best for this trading method generally speaking, especially for newbies.
Luc shows in at least one video that he traded on Liqui, a cool exchange, but smaller than Bittrex or Binance or Kraken. He showed a situation where that exchange had a larger drop than larger exchanges. Big trades, but he ultimately decided to move his cryptos out of liqui. Even someone experienced like Luc will need to move coins off an exchange if fearing issues on the exchange will inhibit entering or exiting trades. You typically see issues on smaller, less established trading exchanges.
Your last question is one I've been asked and one I would think is a concern to many people. I've wondered about this too. Luc mentions on a few videos that he plays obvious, steep, voluminous cracks. He does "nibble" on smaller ones, but he remindes newbies to play it safe. The best way for us to play safe is to look for those steep, big cracks. Set buy-in to make money and keep your risk as low as possible, so set your first purchase target for 25% below the most recently established base and two more buy targets at 10% lower each in case the crack becomes huge . To get good at seeing these, you'll need to look at the month, or even three months. You might not be trading as often only playing the big cracks, but they're safer to start with. Once good at that, then play more often, use different currency pairs, try smaller cracks. It's less about "distance" between cracks and more about severity of cracks and volume. Find where those happened historically to spot if the setup you're looking at in the present seems to match up for a predictable dip and bounce.
Anyone else want to comment on the question or my response?
What is your expected time to sell after you buy? hours/days/weeks?
I always say, if you sell in profit that was a good place to sell :) Sorry your question was too vague for me to really answer.. Are you refering to all my free coins?? I sell usually 30% of a the coins I hold free, when ever I feel like, Omg thats ran up crazy... and then I repeat the process next time i have that feeling..
So i have done probably 25 trades using your method. Im about 21/25 on making a profit. Im still holding 2 of them. It's been 8 days. do I just keep riding it out or cut my losses?
Here are some of my thoughts, what do you think?
I am looking for 5-6% gains on each trade. Where do you set your sell limits/alerts?
I think i realized in this last video, that we are profiting of the reaction to the panic. A few buys I bought at the base, not below. they happened to work out for me.
I currently have 5 different holdings. I cant decide if I put a 20% in each, or grab 1 or 2 and put 50% in each.
Thank you for the time you put in these videos. I have almost doubled my BTC in 2 weeks.
5-6% is a low expected return on a multi-day trade. You should be looking for 10% bounces on those, at least. Can you post a link to the charts with your buys indicated so we can check the bases?
Following this chat as also struggling with the the decision of how long i should keep a trade on. If we base our trade on sharp moves, waiting more than 15-20 hours would be considered as low volume reaction, not panic. If I get this right....
!recentBuy(
)
Here is my latest buy. I bought at the blue arrow. I see 3 solid bases. I would expect to to rebound to around 3900....
Luc you are the man! Have been watching your videos about 3 weeks now and went from a HODLer to a semi positional trader and have been LOVING it. Thanks for all your hard work. Really appreciate it! There is sooooo sooo much crap out. Your stuff is so fresh and simple.
Your posts are so helpful! I'm just starting out and feel so confident from what I have learned from you. Thank you!
Luc!!, Thank you for sharing.
It´s not just inspiring, is the next stage, and you know it.
Which exchange is this tool connected? I am new to this trading but I understand that you buy at bases. But all bases shown as in past...so how do I buy in past or I wait for new base to show up and then place order at that exchange? Help a noob :)
Hey Pete...sent you a little crypto for your work on the scanner. Sounds like a game changer for us amateurs.
Also, guys, Bitfinex opened back up for new account but you have to have a minimum of $10000 to trade. Man, that sucks!
I've found a couple of free tools that helps with trading. On CoinmarketCap if you go to trending you can look at the coins that are trending up and down. Also, you can see last 1 hr, 24 hours, and 7 days.
Another free resource I found was on trading view. I'm not going to post the link because I don't know if it is within the rules but if you go to trading view and /cryptocurrency-signals/ you will find a tool that allows you to look at the history of the coins. You can also change the parameters.
I plan on making my first Quickfinger trade this coming week once I find a good opportunity and figure out how to make the right entry and exit points using Coinigy. Thanks again guys!
Luc, got any Epic fish yet? Must be getting close!!
I'm new to crypto, my friend talked me into it right before the peak in December. I knew enough about markets not to buy in at the top of THAT curve, but he gifted me a small amount of Bitcoin to force me to be interested in this whole crypto thing. Luckily, stumbling across your blog was one of the first things I did in my research.
I finished a PhD in Physics in February last year and traveled for a bit, then became completely directionless. I'd considered going into finance (seems to be a thing physicists do), but the idea of "TSX Suits" sounded like a nightmare.
Your trading style is so "obvious" once you see it. Getting the confidence that I can get into trading and avoid the 90/90/90 rule has literally changed my life. It's the trifecta of jobs: I absolutely love doing, pouring over the charts and the data... I seem to be naturally good at it... and of course, it's profitable!
I've been trading your method for about a month now. Today was my most profitable day yet, and I'm getting more and more confident about my trades. I chickened out on some of the panics recently and took profits too soon (seems to be my MO!)
This is a great tool, I can't wait until it becomes a scanner! That will be worth a monthly subscription for sure. I'm really serious about making this into a career. Is the lack of market scanners the only reason you haven't switched over full-time?
Very interesting video again Luc! Thanks for the insights. So nice of Pete for making the tool to help others. Hope 2018 brings your good trades!
Thanks for all the info! You’ve been a great resource and I just want to say thanks for taking the time to explain in detail how what you do works. Cheers!
I love every time you put up a new post/video Luc. I especially enjoy your no nonsense way of thinking about trading. Thank you for being you! ;)
Love your videos! My favorite mentor :-) . One qu: When coins are going up so fast, do you ever buy at the base, in case it takes a bounce off there (instead of breaking it)? On a lot of charts, if I draw bases, waiting for the crack... it doesn't happen. But it does rebound off the base. Strategy?
Nope.. My method is successful because I am buying panics.. I need context in a trade.. So we know where there is a base (a large amount of buyers) we know if it cracks that base, it could lead to panic selling.. Then if that happens, prices get unreasonable because everyone is jumping the bid trying to sell.. and then due to price discovery we should get a return to where buyers were surprised... That's the whole story.. But to just buy where other buyers are sitting, you could end up being the one panic selling..
Thanks for the reply. I'd love to join the slack channel - any updates on how/when that will be possible? I have a few edits for Pete on his base-software - should I just post here?
Sounds good.. Yeah ill be posting an invite to slack here on the blog as soon as there is a new invite to give out..
Thanks! Looking forward to that
Hi! Where I start to grasp definition of bases etc? What is order of videos?
Thanks
I am also donating to Pete, this new tool is awesome! Thanks so much for sharing.
So I have been going over some of the charts using Pete's scanner, I am finding that the prices and times don't quite match what is on Bitrex when using Coinigy to view them. I am able to determine the bases that were marked in Pete's scanner and set an alert on Coinigy, can you take a look at my chart and let me know if I am using your system properly? Here is the link https://www.coinigy.com/s/i/5a5aa73c254df/
Also, any recommendation on which coin would be a good account builder for a newbie outside of ETH?
Hi Luc ! i am new to your method and am one of the ones you mention needs to get some confidence :) ... i took a look at the new tool f/Pete - amazing! However, I noticed he's doing something that I found myself doing too much... which is not reading a base correctly or jumping in too early. Here's an example:
https://imgur.com/a/cRP8X
How would you have traded this better? His trades had him in a lot of worry for just a tiny profit. I have done a very similar thing before and when i see the market go away from me for a few days it's very frustrating.
In one of my videos I talk about participating in every bounce.. this is very important to master.. First he didnt continue to buy as it went lower.. then he didnt sell some when he had his first bounce.. I would be trying to get out some at break even on this trade because I never continued buying as it went lower.. You have to want those lower prices, and be happy as it continues to drop, because the panic is even more exaggerated.. Then, in this case he didnt get a full bounce back to the previous base. (and that happens rarely, but it can happen) then if he sold atleast part, he would be better able to buy the next panic and make it all back and more.. I rarely get a coin that doesnt fully bounce and give you a bit of a battle. So when it happens I get excited, finally there is a battle to be had.. But usually everything works on the very next drop and oh well back to making easy money again..
Luc, im wondering one thing: How do you consider trading from daily chart? In this case eos/usd
i bought near the recent dip in 1h chart, but missed the bounce and just sold off loosing little, but if i zoom out on daily chart it looks we are in a safe circle under base of 7.4, so would you ever be considering buying now under safe circle looking on a daily chart?
Does anyone feel comfortable enough to take a look at this chart and help me. I saw on Cryptobase scanner that CRB cracked its base so I went to Pet's base tool and had a look. It doen't show all of the data Coinigy does and I would not have classify this as a base as cryptobase scanner did. But Pete's base tool showed a strong previous base and I went ahead and marked a few more as it appeared on Coinigy. Now based on what I determined to be new bases I also set up alerts. Please have a look at this chart https://www.coinigy.com/s/i/5a5b147fc2e68/ and let me know if I am correct in my thinking or if I am just totally lost and need to reassess my new skill set.
Hey there, hope I can help. I would say as per luc says in this video that you may be too zoomed in to be trading safely, try zooming out to two months so you can get a full story of the chart. I went ahead and marked my own bases and there aren't many with large bounces for CRB. Despite this, what you've marked is clearly a base. However trading so zoomed in means a couple things (a) you may tempted to buy AS SOON as the price falls below the base (which means it could drop further and you risk breaking even at best), (b) you won't see the story of the chart from the past two months and wether previous bases have been respected - in fact the price has been slowly grinding up and hasn't had any base cracks in two months. Further, if the price continues to grind down like it is, (without a big panic drop) - it won't be as likely to bounce up to the base, as the coin holders wont be as surprised of the price drop and buyers wont be as keen to snap up a bargain. There is also a base at around the 0.000090 mark, however due to the reasons just mentioned, this isn't a base you want to trade off due to the lack of panic as it past that point.
I'd say (that even though luc defines a base from the bounce) that there is clear support for the price at the 0.0005 mark as it was tested multiple times in the first week of this year without cracking. So if it were to grind all the way down to there and then DROP that would be the base you'd want to trade off . Hope that helps!
Other traders feel free to critique this critique. Can't wait to join that slack room!
TL:DR that's the current base, but zoom out to two months view, and that base will ONLY stay true if there's a large panic drop below it, as opposed to the price grinding down - otherwise trade off the 0.0005 mark.
https://www.coinigy.com/s/i/5a5cb9a8946ad/
Niq
I did keep my charts at the 1h and zoom out to about the 1 month mark but also find it difficult to effectively read the bounces. I did not trade on that one but was trying to figure out If I at least had something going right. I did get in on an ETH today. Here is the chart https://www.coinigy.com/s/i/5a5cc2b4a382d/ let me know what you think.
Really dumb question, i watche the video and I have coingy, how can I use Petes scanner? where do I locate it? Willing to donate if I can use the tool....
There is a link just under the video but here it is https://qft.hodloo.com/ also
thanks so much! Do you know how often Pete updates the bases?
I just refresh the page and it does update, but the charts are not up to the minute. They lag by a few hours from what I see. But the base set on the chart is a good one for you to use I believe
Luc,
Saw a weird trade today:
What does the 2 consecutive Big bounces and Dips mean? Are those done by a single person?
Shall I define the base as the yellow line shown?
Thanks Luc for sharing of your professional knowledge. You are so good!
Luc you are great. I made a steemit account just to say thank you.
You are very welcome.. Im glad you like my content.. Although I dont have much time to keep up with everyone, since theres soo much to trade out there.. keeps me very busy..
same here!
Hey Luc,
where do you see the larger base on ETH/USD for you at the moment?
I committed Luc's rookie mistake #1 (zoomed in too much) and bought at 1240 Monday evening before the major panic hit, and missed my exit.
Do you see a bounce close to 1200 coming or should I get out at the current base (around 850?) and trade further cracks? WWLD (what would Luc do)?
Thanks so much for all your content. I'm paying my tuition right now, but I trust I'll do well with your method in the future.
Update
I did sell some around $1000 in case we crack the new base at 950.
I believe that Luc would just get out of position, on a bad trade. So basically, take the loss and wait for new entry - based on the broken base strategy.
Please post a day trading video! I'd really love to see how you satisfy your trading itch while waiting on those position trade! Thank you for all your work!
Hello Luc,
I've watched all your videos like three times! I've tried to apply your method. But i'm doing something wrong, i think... My account is not shrinking, but it's not growing either. Oh well, just gonna watch all of your video's again! Hope to see new video's soon. YOU ROCK!!!
Looking forward to Slack opening up to new members.
Searched for your handle on Telegram, but only found what appears to be an imposter there, just FYI. Nothing posted, but some dude using your handle.
Thank you soooo much, Pete and Luc, for your work. You've inspired me to pay it forward and teach some of the hard working folks in my community about your elegantly simply trading methods and turn them on to your videos. My dad -- a stock broker for 40 years -- stressed out about the markets his entire life and never explained charts well enough for me to gain confidence to trade. I didn't want to follow in his footsteps or take over his fat book of business due to lack of confidence. I've only been a holder until starting to trade this last year here and there. That's all changed in the five days since binge watching our videos.
What you do on your videos works so well I still find it hard to believe -- and my dad sits there and questions it all, defaulting to wanting to look at technicals and worrying about the fundamental stats, poor guy. I'm sure he'll need to see me hit 80% win rate for a year before he accepts your methods. Not me!
You really boil it all down to the clearest elements and most dominant price actions. I am twice as likely to make a good trade after watching your vids: from about 45% success rate to now well into 80% success/safe-gaining trades. So grateful! I started playing smaller cracks and volumes last 24 hours and am still getting safe gains up of 15% daily and zero losing trades today on six trades. Amazing!
Hi Luc, Another great video! Thanks a ton for all the great trading advice. Have you considered signing up for BAT (Basic Attention Token)? They basically have a publisher program and similar to steemit or patreon users can donate BAT to their favourite creators through the Brave browser. I'd love to donate some BAT to you so maybe you can let us know in case you sign up. Keep up the good work! Cheers
Hi, im new to this can someone send me a slackroom invite link?