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sorry, but you haven't.
well the candles told you to buy btc at 8546 and sell at 8809 (or 8900 as you said at the time).
btc then went up to 8740 and then fell almost 500 points to below 8300 (on your chart).
so, unless you're saying the "bullish engulfing candles" predicted that when you entered the market, btc would go up 200 points (not hitting your target) then fall 500 points and then 9 hours later shoot up 300 points, then they did "lie" to you.
;-)
No, it was not set at auto, as Kraken does not allow for both a limit and a stop-limit. So, obviously you would prefer the limit on auto, and then to set the stop-limit on an alert such as at trading view. So you can make a determination then if it should come to it
OK, Post #59. 5:22 pm Thai is UTC 22:22 previous day. There is no way I could have known that at 23:00 hours UTC that the 1 hr candle would print green. And it did. So that would have been a go.
But there are plenty more similar opportunities so I decided to let it go.
well, you're just talking about a hypothetical trade: well, maybe i wouldn't have gotten out at my planned "stop loss" and i would have stayed in the trade and been lucky as 9 hours later the price shot up.
yes, but it was wrong as you got your "bullish engulfing hit" to enter the market: it then went up 200 points (not high enough) and then dove 500 points. end of story.
those "bullish engulfing flames" weren't predicting that the price would go up a bit and then fall 500 points, right?
you were talking about 8900 and 9000 becoming support soon:
anyways, munted: like i mentioned, looking forward to you posting your trades in real time on the btc thread like luigi and others have done.
example:
munted: "i just bought btc at 8600 (day trade) after i got a "bullish engulfing hit" and will take profit at 9000 with stop loss at 8300.
or just bought btc for a medium term play at 8600.
:cool:
This is nothing about bullish engulfing. It was a great example on how to trade off the 40 SMA
So the next candle, which I had no knowledge at the time of it actually going to print as a green, yes, if fact turned out to be a green (23:00 UTC). At which point, you, would have calculated from the open of the green a profit of 3%. That is your profit. The 8900 was mentioned not as a profit target, as obviously that would have been more than 3%. The 8900 was the next target to go for if you thought it good to do so after hitting 8546.
no, it wasn't: it went up 200 points (not to your target) and then dropped 500 points (your chart).
your "successful" exit point (profit) would have been after the dive and then 9 hours later shooting up again.
that is not what the technical indicators were showing you would happen, right?
regarding a post from the first page:
agree: an example is the trade you thought about making yesterday.
btc didn't go up enough to get your target point and then fell 400 points.
you're saying now that you wouldn't have adhered to your stop-loss and would have made the profit when it bounced back.
but, what if it hadn't bounced back due to (i'm guessing) a few whales sucking up much of the btc on the market, causing the price spike.
if it hadn't bounced back and you held onto it (and that becomes a habit), then you won't have funds available (unless you put in more) for day trading as you'll have become an medium/longer term investor.
20:00 UTC . BTC spiked today to 8886, a higher high of 1.48 % on the previous high (4 hr chart). So must be grateful, even for such small gains.
Rather bullish fundamentals sentiment, somewhat hyped up due to Consensus 2018, does not appear reflected in TA.
There are no bullish engulfing candles today across either top 100 ETH or BTC markets.
However, we do have hammer indicators. Caution is required. The success rate of the hammer indicators have yet to be proven to be as reliable as the bullish engulfing.
This is likely due to hammer indicators being much less common than bullish engulfing, and therefore a smaller data set.
Hammer Hits, due diligence required.
https://teakdoor.com/attachment.php?a...id=13024&stc=1
IOSTETH
https://teakdoor.com/attachment.php?a...id=13026&stc=1
Rules: On RSI(2) in oversold territory:
- place a buy order at the lowest point of the past 2 days. Valid for 1 day only, after which it is cancelled (Note: valid for 6 bars on 4 hr chart)
- apply a 9% stop-loss
- apply a 2% profit target
So how much are you up in your first week?
Sounds like a load of engulfing bullshit to me :)
Dillinger: Much more than you would want to know.
Guys, you now have some good tips on how to begin your journey into crypto.
Put the hours in and learn the TA.
I've introduced two types of candles - Bullish Engulfing & Hammer.
I've also shown you how trading off the 40 SMA works, very successfully if you had followed the advice.
Good thing is you can also do the same with the other major moving averages.
With all the above, you'll have to tweak it a bit.
But that's TA.
It's not a free-loaders charter.
You'll have to learn to do it for yourself.
And then when you have a little success, you can travel to almost any country and make the money to pay the bills.
And a little play money.
Double down and you'll earn yourself much more.
Here's my BTC address if you feel a little generous:
1EaTUepyu7ziuNe6CnnkgAtTxp7h9bQ6NG
it's nice that you're enjoying trading crypto, munted. though, to count on it as your sole source of income while living in thailand sounds like a fairy tale, i'm afraid to tell you.
trading crypto should be a hobby, like gambling, and you shouldn't risk any amount of money you can't afford to lose. most people know this, munted.
anyways:
https://teakdoor.com/attachments/livi...5-19-06-49.png
what the heck are you talking about? this is what you posted regarding this specific trade:
2% is 2%, not about whether a candle closes high or low and a 2% stop loss would have been at 8,380 (btc fell below 8,300).
the trade you suggested failed as the stop loss was triggered before btc spiked 9 hours later.
and, you still don't seem to understand that your technical indicators telling you to buy btc at 8546 were wrong as btc didn't go up to your target level and then fell 400-500 points.
so, munted: i'm sorry to say you have failed to show how to use the 40SMA and you have yet to post a trade in real time.
the only trade you've posted was after the fact (one that you say you wished you had made).
and, in fact, was a losing trade (hit the stop loss):
anyways, munted: looking forward to you posting your next trade (in real time): i am buying btc at ____ with a target of _____ and a stop loss of _____.
Treat it as a hobby and you will lose, guaranteed.
There are four aspects to a candle - the high, the open, the close, and the low. The open and the close define the body of the candle.
I have never said anywhere that the stop-loss percentage ends at the low of the candle. Quote me back if I am wrong.
You got me worried I am beginning to believe you are a conspiracy theorist. The screen-shots show very clearly the entry of the trade and the exit of the trade.
So, you believe I faked them? :smileylaughing:
stop loss is a percentage:
after the fact, you are now saying that you would look at the candles, not just a % fall for stop loss.
ok, sorry to say, munted: you're starting to sound like a really good troll who can't keep his story straight:
Farangrakthai, I sense you are a reasonable fellow unlike some on this forum.
I count myself amongst such beings who invested heavily in the December '17 FOMO.
There is no shame in it, and most certainly, as a hodler you will get it all back, and then some.
I chose to be pro-active.
The result was that I gave up a steady job, and lost money for a few months. That is the price of self-education.
Now I can anywhere in the world and average $2000 USD a month.
No, not a kings ransom.
But that will be enough for Thailand and for my needs while there.
Many get by on a lot less.
actually, i put money in btc and alts in mid dec and took it all out on jan 3. with a nice profit (posted in real time on the btc thread).
since then have been day trading when i have the time and when the market is stable.
fair enough, munted.
the % fall is taken from the entry price.
And you did not quote back to me where in your imagination you believe I said the stop-loss price is at the low of the candle
Yes, of course I would, as I have previously mentioned the stop-loss is not auto set, rather it's arrival is sent as a text alarm to my phone.
Then, if the CLOSE of the candle has not been reached, the trade continues.
Granted, it could have gone either way, but, good for you, if you had have exercised a modicum of sense, you would be nearly 10k THB richer.
it's still a failed trade as the technical indicators told you to buy: it went up 200 points and then fell 4-500 points. if you had held onto it, rather than cutting loss, you would have been lucky as 9 hours later it shot up.
the technical indicators you followed to do the trade were wrong, munted, and i'm surprised that you still can't see that.
i'm also surprised that you can't distinguish between a real trade and one you wish you had made: