Bitcoin Thread - 2018

SaiyanZ

Executive Member
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Jun 5, 2008
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Volume has picked up around $9550/$9570. So there's profit taking and perhaps a bottom. I got fooled by the $300 pump at daily close from $9900 to $10200. Though it was a trend change for today at least. It just kept slow dumping afterwards.

Pumped now as I'm typing so some relief at least. This is the biggest bounce since it started dumping from $11400 so it should get some to start closing shorts.

 

abcab

Active Member
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Oct 22, 2008
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71
Woke up late and saw the dump, thought 10700 was the bottom as it had already recovered by more than $100. FOMO move before I hit the road and can't access the exchange, so I take proffit and turn my short to a long. Now I see we dumped another $200, ouch.
 

Swa

Honorary Master
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May 4, 2012
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21,506
How low will she go?
Bottom has been more or less $9400 for the past few months now. How often it will go there is another question. If current trend holds it will slowly push through the $10100-$10200 resistance or dump after which it will pump straight through. If it dumps again to $9500 under current conditions I'm buying in.
 

phly

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Mar 13, 2013
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I'm still bearish and would like to see a weekend dump to $9700 and lower.
 

SaiyanZ

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Jun 5, 2008
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The real resistance to break is between $10610 and $10630. It's not going to go exactly there and turn. If it's going to swing down then it should turn before $10600 so I have a short waiting at $10577 which is also a hedge for my long. Have a long already open which I'm just riding as long as I can.

Managed to catch a good short last night from $10350. Woke up this morning and it was $9800 so made a decent amount there. So haven't really felt like trading too much today. Caught the break up from $10150 to $10350 and closed there today. Not much else.




The trading strat I've been using for the last couple weeks is Cross margin (100x) on two accounts. One for longs, one for shorts. 2/5 of total funds in the long account and 3/5 of funds in the short account. If the price goes up 20%+ I lock in profits with a 1% of total account short which I close after a 20%+ drop. This way I'm not exposed to huge drops in the BTC price (but I lose out on huge upside).

For trades, I use one 2% of total balance per long or short, wait to be in a bit of profit ($30+ before placing a stop loss). If I just go underwater with a position I leave it be and look for opportunities to add to the position with tight stop losses on the portion added. If the price is fairly low like now I use tight stop losses for shorts. If high then tight stop losses for longs. i.e. I don't risk waiting for too long to be in profit.

Cross margin seems to be the easiest to manage as long as only trading a small portion of balance.
 
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SaiyanZ

Executive Member
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Jun 5, 2008
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Think $10900 will be some resistance but it will eventually break. There's two fibs there so close, that they look like one line. It also intersects the uptrend resistance in a few hours. I'm going to start shorting just below there as well as closing my long, as even if it breaks, I can just add higher up.


 

IdleLayabout

Active Member
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Oct 7, 2010
Messages
32
Under your profile tab. scroll up to see price alerts


Still no stop loss features though. Its like Luno wants you to loose money.
It also seems like they've removed the ability to trade from the orders page which means you have to flip back and forth the whole time. As usual, developers developing for development sake. And sad little astronaut graphic you have to endure, in IT we were always told don't be 'cute' when developing a UI, it wears thin after a while. </rant>
 
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Speedster

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May 2, 2006
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I had a long chat to one of the luno guys Friday. I told him the app is clearly tailored for people new to crypto, but not very functional for regular users.
 

phly

Expert Member
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Mar 13, 2013
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I had a long chat to one of the luno guys Friday. I told him the app is clearly tailored for people new to crypto, but not very functional for regular users.
The old app was way better looking - one could actually trade and make a trade from it and set limit buys thus bypassing fees - that seems gone so like someone said earlier - it's as if they are want you lose money to them. Also we had gotten accustomed to it and how it works and how to get around it. It was straight forward.
 

Swa

Honorary Master
Joined
May 4, 2012
Messages
21,506
Can still not see the trading volume on the website as well. It's like they want us to pay the most and waste the most money than we can.
 

SaiyanZ

Executive Member
Joined
Jun 5, 2008
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7,742
Trade for today is wait with a short in the red bubble and long in the green bubble. Ignoring the noise in-between.


 
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