Thanks for the video Luc. Glad to see you back in action posting your videos. You youtube series had greatly helped in the department of reading and understanding charts more. You style of video is easy to follow well thought out. I really appreciate the content that you bring and I hope you continue to post on Steemit. Thanks again for all you do!
Hi there quickfingersluc, your video has been very insightful and I have been making profitable trades everyday. I am just wondering do you plan for stop loss? Maybe could do a video on it or what is a time to really cut a bad trade.
if you are trading correctly, you will have reviewed a 2 month look at the chart to make sure all panics had bounces.. so if your chart changes, and does not bounce properly, then you need to stop buying it.. something has changed.. the odds are no good no more.. so you stop buying it, and you start selling into every little bounce it gives you.. thats how i take a loss ( but if you read the chart correctly, it will almost never happen) it happened tho for me on AMP this month.. one trade that didnt work out .. showing a weak chart now.. so im not buying more.. and will be letting it go for a small loss on every move up
First off, thank you so much for taking the time to post the video tutorials. You are an angel!
It would be great if you could tell us something about market depth graphs like the one below (BTC/USDT from Poloniex) in one of your future video tutorials. I would be interested to know if the market depth graph gives an idea of the demand and supply of a crypto.
I don't use the market depth in the way you might imagine.. It really doesnt tell you much of value.. since this is a new market and there are tons of investors that just sit on there hands and dont actively trade. So they will be sitting high up on the ask, waiting for price to find there order someday.. this skews the market depth chart.. so there may seem to be more sellers than buyers on many of these charts.. and then when the coin is just introduced to an exchange, then the buyers will way way out wiegh the sellers, and it looks like the price should soar because of the demand but on other exchanges there is plenty of sellers, so the market depth is again, not portraying the anything usable.. I dont bother with this type of market depth chart, its too hard to get an accurate read off it.
Yeah I would be interested in this subject also. I was watching as NAV was cracking and watched these walls appear. I'm curious how to read volume, I think I'm getting a few things from watching as I trade but would be good to get tips from a pro.
Luc, would be awesome if you did a brief segment as part of your regular daily videos where you set aside and started with a small amount of funds ($500?) and made real trades showing us the moves you'd make if you were starting from scratch working your way back up. Something like a $500 challenge. Hope you agree.
I like the challenge.. but im just soo crazy busy right now.. and Im changing much of my daily routine now that we have these scanners.. so I just cannot add another project.. but perhaps in the future I will give this more thought.. would be nice to start small again and record every trade on the blog, and see how fast I can grow..
I had to go to his youtube video & like your comment! LOL!
I'm just getting into trading (long term HODLer) & your videos are invaluable! Just this morning the wife & I agreed to put some more $$ into crypto to start trading, but I wanted to hold off on this drop as it kind of scared me, but if I would have followed your advice I'd be up a few hundred dollars today. Every single ETH crack has been profitable!
Hey @quickfingersluc ... How do you deal with the fact that most of the cryptos seem to fall together... almost in unison? So basically all (most) cryptos are falling in value vs. fiat. Say I buy into bitcoin to get started, because the coin I want to invest in is falling, which is awesome because it's an opportunity to make some money. However, the btc I'm holding is also falling in value right along side the rest of the market. There isn't really an easy/cheap way to continually exchange between fiat/crypto, so in order to be an active trader I imagine the strategy is to hold most of your trading assets in the crypto of your choice (most likely btc, eth, or even ltc (as ltc seems less volatile than the others). I'd like to hear your take on this. I have to imagine that putting your gains into something that hedges well vs the synchronized falls would produce a lot more profit over the long haul.
Greetings from Germany, and thanks for the video! I had to learn the behavioral differences between stock and cryptos with the hard way today, as I found the Bull Flag pattern in a book just last night and bet some money on it.
After that, I have been putting more money in as both XBT and ETH move down, but the trend doesn't seem to stop yet, and I am almost out of funds just now, when things are getting interesting. Which prompts me to ask you the following: how do you allot the money in a downward trend that, after a while, seems to be long, like this one, so as to try not to use all your money in the early supports? In other words, when the first support is broken, do you put 25% of your money there, in case that another support is broken later on? And if that happens, do you put then another 25%? And if there were 4 supports broken and the trend still threatens to go down to very attractive levels, would you just bring more money into the exchange, or just sit on the sidelines with empty pockets?
Sorry for the long questions. And thanks again for your videos.
Thanks for the question, but you should go watch some of my other videos to really understand my method.. It would be too much to explain it all here in an answer for you.. But im glad you found my blog and I hope you take the time to watch my videos.
I'm curious about whether Luc does this in actual percentages too, seems he's more like an instinct trader. Sometimes it's counter intuitive for a basic stock trader like me (where calculating position size based on % of risk to capital etc is the norm). I know Luc has mentioned that he frequently takes a 'nibble' near the crack, and then takes larger and larger positions along the downtrend.
what's 8th August? When will this drama and uncertainty with prices be over? I keep hearing about November 1 date too. This is bad cause as a noob I bought some coin high and with the constant dips it will never let me recover.
If you understand the videos the current price is irrelevant . Luc has been making money all the way down as the price drops. Yes you might have some work to do to regain your investment, but you should be looking at those dips as opportunities.
If you're taking so many losses that you're "numb" to them, you're not trading right and probably shouldn't be giving out any kind of advice. Good for you for commenting on that one.
Just curious to know what your opinion is on whether or not this hard fork will actually happen. What are the odds on that? Are you tuned in at all to what's happening with the BCC crowd? Are they dead-set on forking?
I can't imagine why anyone would want to create this much turmoil in a bull market that had few signs of slowing down.
I really don't put much time into predicting market moves or even to researching coins.. I react to the market, and read the chart.. But from what I have heard, it does look like there will be a fork. Most say that it will have little effect on Bitcoin because it wont get alot of support.. but I remember getting ETC from my ETH and I was pretty quick to turn in those ETC for a free profit.. so I dunno.. Im just being cautious and securing my BTC in a safe place... And im ready to buy the panic if we get one :)
Yeah, I'll let the fools make predictions. I also look at charts and market sentiment. Much easier to trade that way.
All of this BTC nonsense is really confusing. If it's not going to be a big deal, then why are so many people selling? And even if it does fork, you can always just sell the other (new) coins, as you stated. All of this panic and disruption in the markets...and for what? A proverbial blip on the radar?
I actually end up taking some small positions on this current drop, if we get to the $2300-$2200 level before August 1st I'll take a bit more of a position.
As for predictions about August 1st I'm not even sure dude...but if it does end up splitting then at least we'll have double the coin for trading purposes :)
Nice video Luc. I can not thank you enough for sharing your knowledge. Very much looking forward the the scanner. Calling out he ChartGuys was awesome. Thank you!
Hi Luc!
So I've been binge watching through all of your videos these last couple of days and I find them inspiring!
I have a question regarding what's happening with ETH and BTC. I don't think I understand it correctly. I just startet trading last night (Norwegian time) and I use ETH and BTC from mining. So I actually don't have transferred anything from my bank account into this. As I see it, I'm trading with ETH and BTC as "reference". Don't know if this is wrong way to think about it, anyways..
You say you are keeping your ETH and BTC in your wallet. Kinda get that, but if you build up your ETC and BTC in terms of volume through trading other coins, wouldn't that give a payback when the fork stuff is over and ETH and BTC rises again?
It may go up and it may go down. I don't know the future and my method of trading is not about trying to position myself for what might happen in the future. If BTC runs up after this aug1st thing is over, than buying all you can now might be a great play.. but its not what I do.. I just read the chart, and see how it responds to panics, and I buy in at the safest possible areas.. and sell part or all for a profit.. over and over again
Soooo exciting about the market scanner. How could you not support these programmers. Thank you all for your great work.
And, thanks for the bit of levity with the Chart Guy. Truly uplifting to know that technical analysis (yuck) isn't necessary in cryptos. ;-)
Great vid as always!
Just worried you may not have looked into copyright laws for using another persons video content in your video. I'm not sure if it's a problem, but I'd hate for you to get yourself into any trouble while you're doing such an amazing job of helping so many. Myself included.
Thanks again so much!
I don't use trezor or ledger or any of the hardware wallets... I just was commenting on what I heard... that they were planing to support both chains.. I really cannot recommend any wallets, I am far from an expert on this subject..
At this stage if you dont already have a hardware wal!et, then you wont be able to get one in time for the fork. Your best option is to create a paper wallet - aka print out your private and public keys for safe keeping until the market goes back to normal after august 1st.
Yeah, I don't understand if you might end up with BTC+BCC in a paper wallet, or if a paper wallet has similar problems with UAHF as places that don't support it like Coinbase?
I'm willing to try out the market scanner and put up some donation.
Well, well ,well. You put me in a dilemma because I have a position on over 10 coins and now to decide whether to sell and move everything in my wallet or to keep. I'll have to look into this more.
I would never tell anyone what to do.. Im no expert on cryptocurrency.. I just know how to trade like a mad man.. But I have no idea, whats really going to happen Aug 1st
The most important thing to know for August 1st is that if you have control over your private keys, you will get BCC. If your storing money on an exchange, you lose this control - at which point its up to the decision of the exchange if you get BCC or not. If your storing BTC on an online wallet like Blockchain.info then you do not control your private keys.
Coinigy is an interface, not a wallet. Coinigy has no access to your private keys (or public keys for that matter). The private keys are being stored by your wallet and /or exchange. Some exchanges have refused to support bcc because it is a maverick coin that is bad for the cryptocurrency image and ecosystem, I agree with that sentiment.
It's your call but if you convert ETH to BTC now ideally by 30 July, after 1st August, you will have both BTC and the new hard-forked coin called Bitcoin Cash (BCC) as a bonus. Whatever amount of BTC you will have before 1st August, you will get the same amount of BCC as a bonus! But keep in mind that the price of BTC and BCC will fluctuate a lot during this time.
Also, if you want the BCC, make sure you keep your BTC in a hardware wallet (ledger nano, trezor) or a software wallet (coinomi, jaxx) your have control over (you have the private keys).
hey Luc question about what the best move would be now. I was watching EOS and saw a panic drop below the what I thought was a base at around 1.8 and bought in at around 1.715 expecting it to rebound back soon, But instead it kept going down. Would the best move be to hold and wait until the price goes back up past 1.71? Or sell at the next small rebound and buy back in at a lower price?
Also was it wrong to assume that 1.8 was a base? Because it shows a nice 11% bounce the first time it hit it but had almost no rebound when it hit 1.8 this time. ! Screen Shot 2017-07-26 at 4.11.50 AM.png
I don't think that was a base, well not for me. There was no proper bounce from it to call it a base.
The previous one at 1.7 something was a base. As Luck mentioned SO MANY times, you need to read chart for at least last 2 months.
You are right, there was a clear bounce to 170. This chart has bigger bounces and in the longer context the 170 was the only sure level for this bounce. I think the smaller ones could be significant if u want to trade fast in a smaller timeframe, but it isn't that probable to return to higher levels.
You drew a base at 1.80 and I agree that the bounce off that level signifies a base.. you should be fine.. hopefully you have a more capital to get in a bit more if you it goes lower..
The third one is almost negligible. The second one looks fine but this chart seems to have big bounces, that's why it only returned to the previous one. It bounced to 170 which is the biggest of all of them, a clear base. You should look into average size of the bounce from previous 1,2,3 months.
Also keep in mind as Luc mentioned in the video that there was the big news thats kind of dragging everything down. So the dips are not so much panics from cracked bases but more so the news.
What do you think is possible scenario with other coins after 1. August? Good job Luc! Any chance to get Crypto Picasso staff – [email protected]. Thanks to all
you will get used to identifying low volume coins by seeing the way its trading on the chart.. and you can do the math if you are really unsure.. but no I dont look at Coinmarketcap to figure out how much they trade.. you should be able to just ell by looking at the chart or reading the time and sales info
ANT/BTC
Edited: So the scanners are faster than coinigy alerts? I'm pretty sure that I've set up alerts minimally under the base and I still didn't manage to catch the bottom, like you did with this trade.
Guy can you help me out.... is there a way to profit from these spikes? I'm assuming they occur because of pumps and dumps.... but is their a way to profit from this? Or just stay away...
The only way is to set a sell order at these price points. Alerts will catch them but once you anticipate it may be too late. I like to use just a couple of charts which has good history of these spikes with enough frequency. EOS/XBT on Kraken is one of my faves. No big spikes in last couple of days, so hoping for some in next 24 hours
reading the chart effectively will always tell you what you can do to profit.. this is a great example of good chart reading.. it likes to spike, so why not layer some sells .. awesome job
Yes, look at previous videos. You have to buy before the pump and set a sell order. I bought after the pump and still made 14% but it's not Luc's tactic.
Quick question Luc, in such a time when the market is worrying and with so many days till August 1st, what sort of trades does one enter? I am sure there are different ways for different times, right? Like trading a market differently during consolidation and trending. Perhaps daytrading like you foreshadowed. Man, I can't wait for that!
Ive watched most of the vids, especially the 'what support and resistance tells you', and all I see is Luc plotting random bases that have 2 or so spikes/bounces coming off them. I would like to know how big of a bounce (%) would it take to classify it as a base etc
I think a base is qualified by the distance of the jump off of it.
From what I can tell from his videos, the average bounce distance from previous bases where the the price cracked and returned (where the trade would have worked out) will help guide you in qualifying a new base. Similarly, if you look at the average fall after the crack you can guess how far the current crack is going to go before returning to base.
yes, as I understand it you start to buy at some distance below the base. First buy a little, and you also set up bigger buys for when the price drops even lower. This way it is layered (nibbling). To keep it safe: whenever you are making profit start to sell layered.
Since Luc is taking the day off - Does anyone else think that ETH/USDT is showing a solid base right now around $190 or do we need to look further down the chart?
Assuming Bittrex, you don't have to wait cause it showed previously on 7/20. The base is at 185, the bounce there is much bigger than the current one. This is just my opinion though, I didn't look in a larger context and crack/bounce ratio. Looks like a solid base to me.
Awesome, the 7/20 base is what I was referencing with the current baby bounces reaffirming the base. I was just a little curious because on the BTC chart in the video he was talking about looking further down and back to play off the lowest base due to the nature of the decline in price. Never the less, I'm pretty sure I'll play off this base if it cracks!
Maybe I missed that, I think what's important is this method is looking at 1-2 recent bases, and if a base is broken a second time u don't really care about it, unless a new one is established at the old level. As far as previous bases ago, I am not sure if they are really significant or not when they finally break.
Just to be clear, I'm not talking the most recent 190 bases... On 7/20 there was a bounce from 190 (or more accurately about 186) to about 220. Is that still not enough of a bounce to call it a strong base?
Hi Luc,
I'm brand new and getting ready to set up some accounts to start trading crypto. I wanted to let you know I appreciate your videos. This is EXACTLY what I need to help abate my fear of jumping into the game. I enjoy your style and appreciate how humble you seem to be. Thanks for the help -dK
LOL. I am just making my way through all of these videos now and the Chart Guys comment really made my day. I found your videos after several days of watching Chart Guys videos (they came highly recommended) and not understanding a single word they were saying - and then they suggest that you receive 500 hours of education before ever making a trade. Their education is a $149 course. No thanks - too complicated and expensive for me! I'll take your method - free and simple. We made our first trades right away after watching a few of your videos and made money on all of them. Anyway, glad I chose your road. Truly a Godsend. Will report back here after we've made our first 100 grand! Ha ha ha!
Thanks for the video Luc. Glad to see you back in action posting your videos. You youtube series had greatly helped in the department of reading and understanding charts more. You style of video is easy to follow well thought out. I really appreciate the content that you bring and I hope you continue to post on Steemit. Thanks again for all you do!
Excited for Daytrading Video and Scanner :)
Hi there quickfingersluc, your video has been very insightful and I have been making profitable trades everyday. I am just wondering do you plan for stop loss? Maybe could do a video on it or what is a time to really cut a bad trade.
if you are trading correctly, you will have reviewed a 2 month look at the chart to make sure all panics had bounces.. so if your chart changes, and does not bounce properly, then you need to stop buying it.. something has changed.. the odds are no good no more.. so you stop buying it, and you start selling into every little bounce it gives you.. thats how i take a loss ( but if you read the chart correctly, it will almost never happen) it happened tho for me on AMP this month.. one trade that didnt work out .. showing a weak chart now.. so im not buying more.. and will be letting it go for a small loss on every move up
https://steemit.com/trading/@quickfingersluc/trade-like-a-profesional-with-no-emotions-building-small-accounts
The whole video addresses selling but 13 minutes in covers screw ups.
Hi Luc,
First off, thank you so much for taking the time to post the video tutorials. You are an angel!
It would be great if you could tell us something about market depth graphs like the one below (BTC/USDT from Poloniex) in one of your future video tutorials. I would be interested to know if the market depth graph gives an idea of the demand and supply of a crypto.
I don't use the market depth in the way you might imagine.. It really doesnt tell you much of value.. since this is a new market and there are tons of investors that just sit on there hands and dont actively trade. So they will be sitting high up on the ask, waiting for price to find there order someday.. this skews the market depth chart.. so there may seem to be more sellers than buyers on many of these charts.. and then when the coin is just introduced to an exchange, then the buyers will way way out wiegh the sellers, and it looks like the price should soar because of the demand but on other exchanges there is plenty of sellers, so the market depth is again, not portraying the anything usable.. I dont bother with this type of market depth chart, its too hard to get an accurate read off it.
Yeah I would be interested in this subject also. I was watching as NAV was cracking and watched these walls appear. I'm curious how to read volume, I think I'm getting a few things from watching as I trade but would be good to get tips from a pro.
Thanks for the vid Luc! Also thank you to those programmers, looking forward to trying out the market scanner.
LOL that ChartGuy vid though...wow.
Luc, would be awesome if you did a brief segment as part of your regular daily videos where you set aside and started with a small amount of funds ($500?) and made real trades showing us the moves you'd make if you were starting from scratch working your way back up. Something like a $500 challenge. Hope you agree.
I like the challenge.. but im just soo crazy busy right now.. and Im changing much of my daily routine now that we have these scanners.. so I just cannot add another project.. but perhaps in the future I will give this more thought.. would be nice to start small again and record every trade on the blog, and see how fast I can grow..
Don't loose too much time. May be one of your good followers can try this with your strategy.
He's already giving you his strategy on a silver platter, I don't see why you'd ask him to waste a ton of time on something like this.
would be awesome. i love the idea. but as an full-time trader he might not have time for?
I had to go to his youtube video & like your comment! LOL!
I'm just getting into trading (long term HODLer) & your videos are invaluable! Just this morning the wife & I agreed to put some more $$ into crypto to start trading, but I wanted to hold off on this drop as it kind of scared me, but if I would have followed your advice I'd be up a few hundred dollars today. Every single ETH crack has been profitable!
Please keep sharing your wisdom!
Hey @quickfingersluc ... How do you deal with the fact that most of the cryptos seem to fall together... almost in unison? So basically all (most) cryptos are falling in value vs. fiat. Say I buy into bitcoin to get started, because the coin I want to invest in is falling, which is awesome because it's an opportunity to make some money. However, the btc I'm holding is also falling in value right along side the rest of the market. There isn't really an easy/cheap way to continually exchange between fiat/crypto, so in order to be an active trader I imagine the strategy is to hold most of your trading assets in the crypto of your choice (most likely btc, eth, or even ltc (as ltc seems less volatile than the others). I'd like to hear your take on this. I have to imagine that putting your gains into something that hedges well vs the synchronized falls would produce a lot more profit over the long haul.
usdt
Greetings from Germany, and thanks for the video! I had to learn the behavioral differences between stock and cryptos with the hard way today, as I found the Bull Flag pattern in a book just last night and bet some money on it.
After that, I have been putting more money in as both XBT and ETH move down, but the trend doesn't seem to stop yet, and I am almost out of funds just now, when things are getting interesting. Which prompts me to ask you the following: how do you allot the money in a downward trend that, after a while, seems to be long, like this one, so as to try not to use all your money in the early supports? In other words, when the first support is broken, do you put 25% of your money there, in case that another support is broken later on? And if that happens, do you put then another 25%? And if there were 4 supports broken and the trend still threatens to go down to very attractive levels, would you just bring more money into the exchange, or just sit on the sidelines with empty pockets?
Sorry for the long questions. And thanks again for your videos.
Urenze.
Thanks for the question, but you should go watch some of my other videos to really understand my method.. It would be too much to explain it all here in an answer for you.. But im glad you found my blog and I hope you take the time to watch my videos.
I'm curious about whether Luc does this in actual percentages too, seems he's more like an instinct trader. Sometimes it's counter intuitive for a basic stock trader like me (where calculating position size based on % of risk to capital etc is the norm). I know Luc has mentioned that he frequently takes a 'nibble' near the crack, and then takes larger and larger positions along the downtrend.
@quickfingersluc great analysis but we need to wait for 8th August.
what's 8th August? When will this drama and uncertainty with prices be over? I keep hearing about November 1 date too. This is bad cause as a noob I bought some coin high and with the constant dips it will never let me recover.
If you understand the videos the current price is irrelevant . Luc has been making money all the way down as the price drops. Yes you might have some work to do to regain your investment, but you should be looking at those dips as opportunities.
I don't mind but I want to pull out my initial investment from NEO. Now I'm bagholding.
You got me excited like Christmas Eve, Luc!!
yeah, im hopin to scoop up some ETH if we get some market panic
I'm really appreciating those programmers work. Hopefully everybody who can profit will donate!
Great video as always Luc.
Looking forward to trying out a scanner for sure. More than happy to donate as am very appreciative of the guys working on them.
If you're taking so many losses that you're "numb" to them, you're not trading right and probably shouldn't be giving out any kind of advice. Good for you for commenting on that one.
Just curious to know what your opinion is on whether or not this hard fork will actually happen. What are the odds on that? Are you tuned in at all to what's happening with the BCC crowd? Are they dead-set on forking?
I can't imagine why anyone would want to create this much turmoil in a bull market that had few signs of slowing down.
I really don't put much time into predicting market moves or even to researching coins.. I react to the market, and read the chart.. But from what I have heard, it does look like there will be a fork. Most say that it will have little effect on Bitcoin because it wont get alot of support.. but I remember getting ETC from my ETH and I was pretty quick to turn in those ETC for a free profit.. so I dunno.. Im just being cautious and securing my BTC in a safe place... And im ready to buy the panic if we get one :)
Yeah, I'll let the fools make predictions. I also look at charts and market sentiment. Much easier to trade that way.
All of this BTC nonsense is really confusing. If it's not going to be a big deal, then why are so many people selling? And even if it does fork, you can always just sell the other (new) coins, as you stated. All of this panic and disruption in the markets...and for what? A proverbial blip on the radar?
Get it together, Bitcoin!
If the price of bitcoing go really down like 2000$, would you really buy a lot of bitcoin? Does it really come back to the basline afterwards?
I actually end up taking some small positions on this current drop, if we get to the $2300-$2200 level before August 1st I'll take a bit more of a position.
https://www.coinigy.com/s/i/5977997060726/
As for predictions about August 1st I'm not even sure dude...but if it does end up splitting then at least we'll have double the coin for trading purposes :)
Great video! It helps me to calm down in regards the Bitcoin fork! Thanks @quickfingersluc!
Nice video Luc. I can not thank you enough for sharing your knowledge. Very much looking forward the the scanner. Calling out he ChartGuys was awesome. Thank you!
Hi Luc!
So I've been binge watching through all of your videos these last couple of days and I find them inspiring!
I have a question regarding what's happening with ETH and BTC. I don't think I understand it correctly. I just startet trading last night (Norwegian time) and I use ETH and BTC from mining. So I actually don't have transferred anything from my bank account into this. As I see it, I'm trading with ETH and BTC as "reference". Don't know if this is wrong way to think about it, anyways..
You say you are keeping your ETH and BTC in your wallet. Kinda get that, but if you build up your ETC and BTC in terms of volume through trading other coins, wouldn't that give a payback when the fork stuff is over and ETH and BTC rises again?
Hope this made sense :)
It may go up and it may go down. I don't know the future and my method of trading is not about trying to position myself for what might happen in the future. If BTC runs up after this aug1st thing is over, than buying all you can now might be a great play.. but its not what I do.. I just read the chart, and see how it responds to panics, and I buy in at the safest possible areas.. and sell part or all for a profit.. over and over again
Helpful read here https://medium.com/@jimmysong/bitcoin-cash-what-you-need-to-know-c25df28995cf
Soooo exciting about the market scanner. How could you not support these programmers. Thank you all for your great work.
And, thanks for the bit of levity with the Chart Guy. Truly uplifting to know that technical analysis (yuck) isn't necessary in cryptos. ;-)
Great vid as always!
Just worried you may not have looked into copyright laws for using another persons video content in your video. I'm not sure if it's a problem, but I'd hate for you to get yourself into any trouble while you're doing such an amazing job of helping so many. Myself included.
Thanks again so much!
You mentioned the wallet, Trezor but you also mention other wallets. Do you mind letting us know which wallets you recommend.
Thanks
I don't use trezor or ledger or any of the hardware wallets... I just was commenting on what I heard... that they were planing to support both chains.. I really cannot recommend any wallets, I am far from an expert on this subject..
At this stage if you dont already have a hardware wal!et, then you wont be able to get one in time for the fork. Your best option is to create a paper wallet - aka print out your private and public keys for safe keeping until the market goes back to normal after august 1st.
Ledger wallet is good, particular the legder nano S. They may be out of stock now.
I tried to get one of those 2 months ago.
They are on backorder till like September me thinks?
correct, i ordered mine yesterday anyways. highly reccomend doing it now before you regret it when the current batch runs out
Yeah, I don't understand if you might end up with BTC+BCC in a paper wallet, or if a paper wallet has similar problems with UAHF as places that don't support it like Coinbase?
I'm willing to try out the market scanner and put up some donation.
Well, well ,well. You put me in a dilemma because I have a position on over 10 coins and now to decide whether to sell and move everything in my wallet or to keep. I'll have to look into this more.
Market scanner is going to be interesting for sure
hi luc, what if i do not possess BTC right now (all i have is ETH), shall i change it into BTC? do not know what gonna happen in 1.Aug,
I would never tell anyone what to do.. Im no expert on cryptocurrency.. I just know how to trade like a mad man.. But I have no idea, whats really going to happen Aug 1st
The most important thing to know for August 1st is that if you have control over your private keys, you will get BCC. If your storing money on an exchange, you lose this control - at which point its up to the decision of the exchange if you get BCC or not. If your storing BTC on an online wallet like Blockchain.info then you do not control your private keys.
Would something like Coinomi give us control over our private keys, allowing us to grab some BCC?
Coinigy is an interface, not a wallet. Coinigy has no access to your private keys (or public keys for that matter). The private keys are being stored by your wallet and /or exchange. Some exchanges have refused to support bcc because it is a maverick coin that is bad for the cryptocurrency image and ecosystem, I agree with that sentiment.
A month late, I know, but I believe @cmd-space meant Coinomi, the multi-coin HD wallet, not the charting/trading platform
It's your call but if you convert ETH to BTC now ideally by 30 July, after 1st August, you will have both BTC and the new hard-forked coin called Bitcoin Cash (BCC) as a bonus. Whatever amount of BTC you will have before 1st August, you will get the same amount of BCC as a bonus! But keep in mind that the price of BTC and BCC will fluctuate a lot during this time.
Also, if you want the BCC, make sure you keep your BTC in a hardware wallet (ledger nano, trezor) or a software wallet (coinomi, jaxx) your have control over (you have the private keys).
https://medium.com/@jimmysong/bitcoin-cash-what-you-need-to-know-c25df28995cf
Thank you very much, typed a lot to explain it for me.Again, thank you very much, all the best for you.
meep
hi meep
meep
hey Luc question about what the best move would be now. I was watching EOS and saw a panic drop below the what I thought was a base at around 1.8 and bought in at around 1.715 expecting it to rebound back soon, But instead it kept going down. Would the best move be to hold and wait until the price goes back up past 1.71? Or sell at the next small rebound and buy back in at a lower price?
Also was it wrong to assume that 1.8 was a base? Because it shows a nice 11% bounce the first time it hit it but had almost no rebound when it hit 1.8 this time. !
Screen Shot 2017-07-26 at 4.11.50 AM.png
I don't think that was a base, well not for me. There was no proper bounce from it to call it a base.
The previous one at 1.7 something was a base. As Luck mentioned SO MANY times, you need to read chart for at least last 2 months.
I'm by no means an expert (never traded before Luc's vids) but I've tried to zoom out and draw some bases. Looks like it did rebound
You are right, there was a clear bounce to 170. This chart has bigger bounces and in the longer context the 170 was the only sure level for this bounce. I think the smaller ones could be significant if u want to trade fast in a smaller timeframe, but it isn't that probable to return to higher levels.
You drew a base at 1.80 and I agree that the bounce off that level signifies a base.. you should be fine.. hopefully you have a more capital to get in a bit more if you it goes lower..
The third one is almost negligible. The second one looks fine but this chart seems to have big bounces, that's why it only returned to the previous one. It bounced to 170 which is the biggest of all of them, a clear base. You should look into average size of the bounce from previous 1,2,3 months.
Also keep in mind as Luc mentioned in the video that there was the big news thats kind of dragging everything down. So the dips are not so much panics from cracked bases but more so the news.
What do you think is possible scenario with other coins after 1. August? Good job Luc! Any chance to get Crypto Picasso staff – [email protected]. Thanks to all
Luc, simple question.
When you are looking at various coins... how do you know which coins are Low volume coins and which are not?
Simply put, I'm new to cryptos, and I don't really have a feel for which ones are low vol, and which are high vol(BTC, ETH).
Is there a simple way to look at either the volume on the coinigy, or here: https://coinmarketcap.com/ ?
you will get used to identifying low volume coins by seeing the way its trading on the chart.. and you can do the math if you are really unsure.. but no I dont look at Coinmarketcap to figure out how much they trade.. you should be able to just ell by looking at the chart or reading the time and sales info
On coinmarketcap you can sort by VOLUME(24) by clicking on it.This will sort by volume.Click again and it will show lowest first
coinigy has volume in the altcoin and volume in bitcoin on their DATA page on each coin.
ANT/BTC
Edited: So the scanners are faster than coinigy alerts? I'm pretty sure that I've set up alerts minimally under the base and I still didn't manage to catch the bottom, like you did with this trade.
Guy can you help me out.... is there a way to profit from these spikes? I'm assuming they occur because of pumps and dumps.... but is their a way to profit from this? Or just stay away...
The only way is to set a sell order at these price points. Alerts will catch them but once you anticipate it may be too late. I like to use just a couple of charts which has good history of these spikes with enough frequency. EOS/XBT on Kraken is one of my faves. No big spikes in last couple of days, so hoping for some in next 24 hours
reading the chart effectively will always tell you what you can do to profit.. this is a great example of good chart reading.. it likes to spike, so why not layer some sells .. awesome job
Yes, look at previous videos. You have to buy before the pump and set a sell order. I bought after the pump and still made 14% but it's not Luc's tactic.
PSA: Watch out for Bitcoin Cash (BCC) extraction/splitting scams - reddit.com
Quick question Luc, in such a time when the market is worrying and with so many days till August 1st, what sort of trades does one enter? I am sure there are different ways for different times, right? Like trading a market differently during consolidation and trending. Perhaps daytrading like you foreshadowed. Man, I can't wait for that!
LOL. Also, how do you accurately plot bases and supports? What criteria do you usually use?
It's all in the videos.
Ive watched most of the vids, especially the 'what support and resistance tells you', and all I see is Luc plotting random bases that have 2 or so spikes/bounces coming off them. I would like to know how big of a bounce (%) would it take to classify it as a base etc
I think a base is qualified by the distance of the jump off of it.
From what I can tell from his videos, the average bounce distance from previous bases where the the price cracked and returned (where the trade would have worked out) will help guide you in qualifying a new base. Similarly, if you look at the average fall after the crack you can guess how far the current crack is going to go before returning to base.
So, usually, do you buy if the price cracks under the base?
yes, as I understand it you start to buy at some distance below the base. First buy a little, and you also set up bigger buys for when the price drops even lower. This way it is layered (nibbling). To keep it safe: whenever you are making profit start to sell layered.
thanks for fielding some of the basic answers for me.. much appreciation :)
Maybe you can write the basics somewhere so we can study them. :D
Since Luc is taking the day off - Does anyone else think that ETH/USDT is showing a solid base right now around $190 or do we need to look further down the chart?
Assuming Bittrex, you don't have to wait cause it showed previously on 7/20. The base is at 185, the bounce there is much bigger than the current one. This is just my opinion though, I didn't look in a larger context and crack/bounce ratio. Looks like a solid base to me.
Awesome, the 7/20 base is what I was referencing with the current baby bounces reaffirming the base. I was just a little curious because on the BTC chart in the video he was talking about looking further down and back to play off the lowest base due to the nature of the decline in price. Never the less, I'm pretty sure I'll play off this base if it cracks!
Maybe I missed that, I think what's important is this method is looking at 1-2 recent bases, and if a base is broken a second time u don't really care about it, unless a new one is established at the old level. As far as previous bases ago, I am not sure if they are really significant or not when they finally break.
I would not call 190 a strong base, since there is no big bounce. For me it is still to wait...
Just to be clear, I'm not talking the most recent 190 bases... On 7/20 there was a bounce from 190 (or more accurately about 186) to about 220. Is that still not enough of a bounce to call it a strong base?
Boommark comment
Hey Luc, or anyone who knows... the fork with be finalized on August 1st in which timezone exactly?
12:20 UTC on Aug. 1st
What's that based on actually?
I read it on reddit not from an official source but it should be correct.
Here is the link:
Thanks man, all the best!
Hi Luc,
I'm brand new and getting ready to set up some accounts to start trading crypto. I wanted to let you know I appreciate your videos. This is EXACTLY what I need to help abate my fear of jumping into the game. I enjoy your style and appreciate how humble you seem to be. Thanks for the help -dK
LOL. I am just making my way through all of these videos now and the Chart Guys comment really made my day. I found your videos after several days of watching Chart Guys videos (they came highly recommended) and not understanding a single word they were saying - and then they suggest that you receive 500 hours of education before ever making a trade. Their education is a $149 course. No thanks - too complicated and expensive for me! I'll take your method - free and simple. We made our first trades right away after watching a few of your videos and made money on all of them. Anyway, glad I chose your road. Truly a Godsend. Will report back here after we've made our first 100 grand! Ha ha ha!