You always wan to blend in with the market.. so you have to watch the time and sales and see what kind of trades are usual, then make orders that wont stand out on level two... As far as the layering into a trade goes, When a base cracks and I really like the coin, I often take a nibble after the first little bit of panic... but then if a real panic happens, I will buy bigger and bigger with each buy.. always keeping an eye on your average position, so you know your break even point.. then you can start selling whenever you are in the profit.. Depending on the volume behind the bounce, I will take a quick profit or I will wait for it higher prices... Once im safely in profit, then I make those decisions based off how volume is coming in
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Hi Luc, thanks for all this!
Assuming liquidity wasn't a problem, how much then? Would you start with 5% of the 1 bitcoin, 10%? What about the last one where you "get in big" what sort of percentage of the 1 bitcoin would that be?
Of the one bitcoin? Im sorry, i don't understand the question.. I dont have set % for buying in.. Its not mathematical for me.. I look at the time and sales and level2 to see whats normal, and then I start putting in orders all the way down the bid.. a little here and there, and then I watch how the coin drops.. if it drops fast, then pauses, I might buy a large chunk all at once.. if it takes its time and doesnt show evidence of real panic selling, then I will keep my orders small...
You are really great. Thanks for teaching us all this stuff in detail. I didnt know that you also analyse how fast the price is falling. Maybe I missed this in your videos, even if I have watched them several times.
Hi Luc, Thanks again for your time and patience. I know these questions are coming thick and fast.
I suspect that many of us with small accounts often don't have a problem with trading too big for the market. It's more of a question of "how much of my account should I trade?"
Would definitely like to hear more about what influences your sizing.
Hey Luc,
I'd like to thank you for helping this community. You personally helped me grow my account by over 25% in the last 25 days :)
I have a question though. When you say you look at the time and sales, what do you mean? How does the level 2 data impact your decision on buys beyond your base-breaking strategy?