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Question of the Day: Have you ever been to an airshow?
Bitcoin Thread
- Thread starter Dan C
- Start date
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SaiyanZ
Executive Member
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.
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
Well-Known Member
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.
abcab
Well-Known Member
Lol, and as I was typing that, it turned, and I'm square.
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.
SaiyanZ
Executive Member
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.
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
I think there's a high probability of going up more through there:
Tabac
Honorary Master
I see the Luno app had changed..... where's the alerts gone to ?
Under your profile tab. scroll up to see price alerts
Still no stop loss features though. Its like Luno wants you to loose money.
Tabac
Honorary Master
Thank you
SaiyanZ
Executive Member
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
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>
phly
Expert Member
- Joined
- Mar 13, 2013
- Messages
- 2,097
- Reaction score
- 606
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.
Tabac
Honorary Master
@Lunomoney You see these posts ? It's customer feedback.
Dimpie (JIGSAW)
Honorary Master
SaiyanZ
Executive Member
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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