You have a rare opportunity to trade with us, our chatroom has over 1,740 members.
Understanding this rare opportunity in trading..
This post is to try to help motivate new traders. New traders put out alot of effort to try to make sense of the market. I know, because I have a huge collection of trading books that are completely useless. I have never paid for trading courses, but I have been given a few, and thats yet another avenue that new traders take. Everyone is looking for the perfect system, or that majic indicator that will tell you exactly when to buy. Others actually want to have a computer program trade for them, a trading bot that is able to catch quick moves, perhaps faster than a human could. There is endless strategies out there and still 95% of traders lose money.
Well, I am glad you stumbled upon my unadvertised, completely free blog. I don't want to sell you another useless book or trading course. I also don't want you to blindly follow a set of indicators that you cant understand. You don't need some complicated system, or education to trade very effectively and grow your starting capital into a massive account. You just need some basic rules to follow, that come from an understanding of how a crowd of people that make up a market react as a group.
Is it possible to trade very actively and never lose a trade?
How fast would your account grow if you only take profits over and over again? Compounding your money so that your profit taking was continually getting bigger and bigger. So that next year, even though you are making the same trades as this year, your profits are 10 times the size. Maybe, you used to take a $100 profit, but now you take a $1,000-$10,000 profit, for the same trades and the same amount of screen time.
Well I'm here to suggest to you that is is very possible for you to acheive this success. That it is actually EASY to make very safe, profitable, and big trades, if you understand the basics I outline in my videos.
The most important skill/quality that you will have to develop as a trader is Patience.. “PATIENCE YOU MUST HAVE my young padawan” – Yoda ... Once you know the rules, then you just have to wait for a trade to present itself. Learn to avoid taking trades just to trade, but wait and buy in the "safe circles".
What are safe circles???
Watch my videos and join our community, everything is free. We have market scanners and a great Slack chatroom with over 1,740 members. Everyone willing to help out each other making these types of safe trades. I would also ask that you Upvote my posts so that my blog reaches more new traders. Please, do not be concerned if your vote doesn't add a penny to the steemit curation reward on my posts, I do not care about that. I'm not interested in financial reimbursement for my blog posts.
We need your upvotes..
I do appreciate every upvote, because it will make this blog more visible to others, and a bigger audience will have a chance to profit and join our community. With almost 2,800 followers on my blog, I often dont even get 200 upvotes. So please everyone upvote, and grow our community. (no matter how small your steemit bank balance is, every vote counts)
Luc
Luc,
Thanks for the post! Its a great motivational read. I have been following your posts for around a month now. Made some little mistakes at the beginning but am slowly recouping. I would rather make mistakes with only a little money than a lot thats why I only started with a small bank roll.
Recently I joined the slack channel and I am finding a lot of great information. Today I started looking at the base_scanner. Reading some of the replies I am realizing that everyone is trading on different time intervals some on 5 minute charts. Is this worthwhile? I mean last week the major coins tanked and unfortunately my full time job had me out of town and I missed out on some serious cash because all of my set alerts would have been ringing off of the hook. In this post you mention patience which is I can defintily do but on 1 hour charts I might not get a trade for days! Trying to achieve the goals you talk about in this post I find hard waiting for those bases to crack.
Looking at some of these 15 minute charts I can see how you could make quick 10% jumps but you really have to be on top of it. If we look at charts with quicker time intervals do the same rules apply (looking for a high buy volume base)?
I appreciate any feedback and thanks for your time with this blog and the Slack channel. There really aren't many people willing to share info without some sort of compensation.
The guys who are trading 5min charts are daytrading, not position trading.. I often daytrade also with very small sizes, because its is less predictable.. but it can keep you occupied while you wait for those big trades.. Then I go in size on the bigger position trades, because that is where the real money is.. The traders with real size (whales) are trading mainly the 1hour and 4hour charts.. Like you they dont sit infront of the computer all day.. But they do have areas that they plan to buy in, and that is why you will see prices panic drop to an area and receive support then bounce.. There is much more money to be made taking the big trades, but is slow and dull for the average trader.. I like action, therefore I daytrade to kill time.. and position trade to make the big bucks.
Thanks for the reply! I am definitely in the "small bucks" but I actually work at home (most of the time) and could day trade very easily. Its just a little scary. Do I treat the 5 minute charts like the 1 hour charts if I attempt this? I am just trying to build an account but it could take awhile waiting for the big trades. If I could slowly accumulate then I can go bigger on the position trades (like you said). I have alerts set on the major coins that aren't ICOs (which is what I missed out on last week). This is exciting and I really like the action as well. By the way the Slack channel is awesome because I have a spot to test my knowledge! Really enjoying this.
I believe we all will be away from the computer and come back to see where we could have made more money haha.
That said learning about crypto convinced me to go all, as in some of his videos, yes just watch the hour, then down to 10 and 5 mins charts and play bases, just remember to only take profit.
I was just day trading around and got some great low trades when that news hit about china, I did not know about it yet so I was waiting for profit and then even bought in lower and lower before i realized it was crashing. At that time I was about 80% in but the market kept going down and i did not get bottom. So im waiting for those profits to come in coming days/weeks on the alt coins im invested in, not for minute did I worry, or freak or need to sell, I knew there was some news and just stopped day tading till I got better idea of what was happening over all.
Being new like you, luc has been a godsend for us newbs to get a solid strategy and back it up with such positive motivational words.
I also just got on the slack today and will be getting more active day by day!
Thanks again for a great post and ill be up-voting more often!
https://steemit.com/trading/@quickfingersluc/daytrading-keeps-me-sane-while-i-wait-for-those-big-trades
Luc, I just want to say a huge thank you for the methods you teach in your videos and the wealth of practical advice. I've learned more from you in a few days than I have reading all the must-read books about trading. I've done six trades already, each of them with a 10-30% return, following your methods. This is just amazing! Thank you so much.
Hey that's an excellent start.. Well done.. You will be moving in and out of big trades before you know it :)
Thank you! I only have a $500-1000 so far so I try to focus exclusively on Penny stocks spikes, or using the base/circle method looking for rock solid bases and panic drops of at least 25-30%. I find the Penny stocks scarier since there's less way of knowing what's coming. But when all goes well... they make money so much quicker!
Hi Luc, still using your method successfully and about to take bigger trades. If you ever have a minute to answer this, it would be great: On top of the base/panic drop strategy, is it a good idea to use the order book to anticipate when big money is coming in?
I sometimes see buy orders for $10k or 20k waiting to get filled at a certain price. Technically they would bring the price up, right? But they can also be cancelled so, is it reliable? I'm curious how often you use this information in your decision-making. Many thanks
No.. Level 2 on the big coins is almost useless for us. It will hurt you to make decisions based on level 2 because there are too many things happening, like large bids and asks that disappear as soon as the market gets close. And the coins are being traded on multiple exchanges with completely different order books.. Best to use the chart for your decision making with the big coins
Got it! Thanks so much!
Hi Luc, hope all's well today! I'm just about to move into a $2k trade and excited! If you've got a minute, I would love to know:
Do you put more trust in a base where the big bounce up is preceded by an equally big drop? Like a "V"? Or is a big spike up from that base enough (even if it is not preceded by a big drop)?
Once you enter a trade, do you immediately place your sell limit order, or do you prefer to watch it go up and sell manually?
Many thanks
Jeremy
how do I make vol (20) to vol (true, 20) on trading view?
Hi Luc, thank you for your contributions to everyone.
I wanted to ask if it would be possible to shoot a video on using level 2 just before taking a potential trade.
So when you have a crack of a base and before you enter, you look at the data and point out the things you woudl take into consideration and what they mean.
Maybe you can spot someone trying to manipulate the data or maybe everyone is selling all at once or maybe more buyers are coming in now.
Can you shoot one of these so we can make better decisions during entry?
Appreciate the help as always,
JH
Luc,
Just read the reply to your post by @schwmm. You not only have patience for trading, but also in politely responding to other "members".
While I agree that @schwmm (and all investors) should ask questions to try and protect against fraud, etc., I don't like @schwmm tactics by questioning your integrity while at the same time shamelessly promoting his own site. Like the other member on this blog, it immediately led me to "mute" @schwmm.
Keep up the great work quickfingersluc!
Hey Luc!
I have a question regarding bases that is really confusing me.
This is a clear base at 2500:
https://www.coinigy.com/s/i/59c041ab34e06/
But is this also at 3576 ?
https://www.coinigy.com/s/i/59c03f9206e07/
The difference: the first has a clear downward panic, lots of red bars, just perfect. The second one has not, but you still used similar bases in this Post:
https://steemit.com/trading/@quickfingersluc/its-hard-to-keep-up-with-all-these-awesome-trades
BSD and VOX also have bases that resemble my example at 3576.
thanks a lot for all your great work :-)
Had this wonderful community / series sent to me by a Stanford buddy and have gone through all the videos more than twice. Incredible information. Have been strictly following the rules, staying objective, and tracking the data. The strategy has worked perfectly thus far. Would love to learn how to become more active in this awesome and altruistic community!
Glad to have you aboard :) Ill see you in slack.. theres always something happening
Hey luc,
I've been studying trading for a year now And I gotta say...changing my perspective from Dollar signs to percentages has really changed my overall theory on profitability in short-term trading of cryptos. Really looking forward to studying your videos!
Is there a secret knock to get in the slack channel? The invite page appears to be closed at this time. Thanks!
Hey Luc! My name is Zach. I decided to join Steemit and write something before you get too popular to respond!
I just wanted you to know that your videos and advice have really had a positive effect on me. Well, if you consider waking up and studying to Coinigy alerts as positive...
Anyways, to cut it short, while I am far from being as good or as experienced as you, I hope I can keep watching your videos and only get better. One thing I've learned from your videos is that it's all about enjoying what you do.
Your fan,
Zach
Thanks, Zach.. Its true, if you love what you do, then its not work, its fun.. This is the best job ever, pays really well, and there is no boss..
But we have a Leader to guide us :-)
That is you...
My sentiments exactly! What an inspiring group of folks we have here! This is going to be exciting for all!! Cheers!
great job @quickfingersluc ! I just followed you ,please be kind to follow me as weel braveheart22 for quality articles too !
see you on the next posts !
Thanks for posting this. I'm interested.
I just started trading with OpenLedger and my goal is to grow my number of Bitshares. Following your posts with interest!
Hey, thats great.. its quite addictive after you start growing your bank. I celebrate goals achieved, like if i have a huge day of profits, its dinner out.
I just came across your blog last week and was out of town in an area with poor reception. I am interested in your method and was wondering whether you or someone else could point me towards a particular video which would give me a good introductory overview of what you do. Also, before I get too excited, does your method require a lot of screen time? I am pretty limited between day job and young kids. Thanks in advance.
Hi Cannonball6,
This is a really good one that covers Luc's strategy:
Maybe not the absolute best due to him being a little under the weather but I think it's the most comprehensive.
This second one isn't a video but it has a really good walk through about mid way through. It's probably one of my favorites:
https://steemit.com/trading/@quickfingersluc/no-one-man-can-make-a-market
Awesome, thanks. I will check them out!
That was the first video I saw of his. Became a follower that day. Can't seem to get enough of those quickfingers..