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  1. #101
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    Additionally, you will note that my original advice on stop-losses is 10%. There was a whole discussion about this.

    But the TA was a little weak in this particular successful trade.

    So, the right thing to do was to suggest 2%.

    The figure was not technically arrived at.

    It was set tight due to me not wanting others losing a lot of money if it should go wrong.
    "The urge to destroy is also a creative urge." Mikhail Bakunin.


  2. #102
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    Quote Originally Posted by Dillinger View Post
    I hope you’re not living on a high floor
    The mosquito-free zone just does me fine

  3. #103
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    Quote Originally Posted by Farangrakthai View Post
    i'm also surprised that you can't distinguish between a real trade and one you wish you had made
    The difference between a real trade and the one I wish I would have made is that if you had taken the real trade you would be over 9k THB richer!
    Last edited by Munted; 16-05-2018 at 12:23 PM.

  4. #104
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    Quote Originally Posted by Farangrakthai View Post
    technical indicators told you to buy: it went up 200 points and then fell 4-500 points
    Big news. Surprise, surprise, Crypto goes up and then it goes down.

    This is not a horse race over and done with in 5 minutes.

  5. #105
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    Quote Originally Posted by Munted View Post
    Big news. Surprise, surprise, Crypto goes up and then it goes down.

    This is not a horse race over and done with in 5 minutes.
    Quote Originally Posted by Munted View Post
    if you had taken the real trade you would be over 9k THB richer!
    munted: all i can say is good luck surviving on your crypto earnings when you call that a great trade that someone could have made.

    it was pure luck that it bounced back in your favor.

    you know that, right?

    ;-)



    Quote Originally Posted by Munted View Post
    Last edited by Farangrakthai; 16-05-2018 at 01:18 PM.

  6. #106
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    so, munted: before the suggested trade, it was all about "bullish engulfing hits", "green candles", the "40 SMA" and "confirmation candles" signalling to you that it was a good time to buy:

    Quote Originally Posted by Munted View Post
    OK here's the rulz. Next green candle (no lower wick extending into 40 SMA) you then put enough on to cover your week's rent.

    Me - I would put 10k on this and sell after 3% ride.

    But if you are Mr B, you might like to put 5%

    You know the rulz, set your stop loss at 2% in case it all turns to custard.
    Quote Originally Posted by Munted View Post
    It might be a good plan to get out around 8.9k
    Quote Originally Posted by Munted View Post
    Got some bullish engulfing hits today.
    Quote Originally Posted by Munted View Post
    If you went in at the time of the confirmation candle you would have got the trade. As explained in post #59.
    after the suggested trade: "crypto goes up and down".

    Quote Originally Posted by Munted View Post
    Big news. Surprise, surprise, Crypto goes up and then it goes down.



  7. #107
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    Quote Originally Posted by Farangrakthai View Post
    it was pure luck that it bounced back in your favor
    Sure, agreed. Some you lose, most you can win.

    You can come out on top.

    Wall St doesn't spend millions on TA for no purpose at all.

  8. #108
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    Quote Originally Posted by Munted View Post
    Wall St doesn't spend millions on TA for no purpose at all.
    sure, i look at TA, too (every time before i make a trade).

    though, it doesn't tell me when and when not to make a trade.

  9. #109
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    Is ETH about to break out?

    We can definitely see the price action is contained within converging trend lines. A bullish engulfing candle does indicate a potential break out above the upper trend line.
    Certainly worth a 3% position.

    For the skeptics amongst you, please note the time in the top left hand corner of this post.

    Attached Images Attached Images

  10. #110
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    21:00 UTC. Head and shoulders formation on BTC indicating a definite bear market. Not a good time to buy.

    If the price fails to bounce off the 8k we could see the price plummet to 6.5k.

    The ETHUSD play (above) is barely still holding. There has been some erratic movement below the lower trend line of the bull pennant.

    However, price action has presently an upwards momentum. If there is a confirmed break out to the upside, the play may still be worth while.

    Do not consider speculating until if the chart prints a confirmed break out.

    As the market is overall moderately bearish it would be wise to set a tight stop-loss of 2%, or if your appetite for risk is higher, perhaps 3%

    No bullish engulfing hits to report.
    Last edited by Munted; 17-05-2018 at 04:36 AM.

  11. #111
    a cookin' an' a bookin' Luigi's Avatar
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    Quote Originally Posted by Munted View Post
    Is ETH about to break out?

    We can definitely see the price action is contained within converging trend lines. A bullish engulfing candle does indicate a potential break out above the upper trend line.
    Certainly worth a 3% position.

    For the skeptics amongst you, please note the time in the top left hand corner of this post.

    Interesting, cheers Munted. Technical Analysis gets more and more interesting the more you learn about it.

  12. #112
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    Quote Originally Posted by Luigi View Post
    Interesting, cheers Munted. Technical Analysis gets more and more interesting the more you learn about it.
    True that Luigi. Much easier in a bull market if all you do is long swings.

  13. #113
    a cookin' an' a bookin' Luigi's Avatar
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    Quote Originally Posted by Munted View Post
    Much easier in a bull market if all you do is long swings.
    Along with a pinch of praying and smidgen of early morning drinking.

  14. #114
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    Ex crypto trader



    Quote Originally Posted by Luigi View Post
    Along with a pinch of praying and smidgen of early morning drinking.
    Attached Images Attached Images

  15. #115
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    Chinese Government Praises Ethereum
    and Ranks it as the Top Blockchain


    Let's hope for a pump.

    Present price action about as exciting as watching paint dry.

  16. #116
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    Quote Originally Posted by Munted View Post
    Present price action about as exciting as watching paint dry.
    Luckily for you, on top of hammering the F5 button, scouring bestiality and BBC websites for 20 hours a day , you have red and green candles to monitor, you lucky bastard.

  17. #117
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    Quote Originally Posted by Dillinger View Post
    on top of hammering the F5 button, scouring bestiality and BBC websites for 20 hours a day
    way too much fun

  18. #118
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    Quote Originally Posted by Munted View Post
    For the skeptics amongst you, please note the time in the top left hand corner of this post.
    well, munted: the bullish engulfing candles have mistakenly given you a buy signal for a second time, it seems.

    maybe the third time (third trade you post on this thread) will be a charm.

    ;-)

    btw, did you set a stop-loss on your eth/btc position or still holding (no longer a "day trade")?

    Quote Originally Posted by Munted View Post
    A bullish engulfing candle does indicate a potential break out above the upper trend line.
    Certainly worth a 3% position.
    entered at .08358.

    went up to .08472 (well below your target point of .08599)

    and then fell and is now at .08238.

    eth/btc 24 hour chart (down 7.1% for the day):

    Attached Images Attached Images
    Last edited by Farangrakthai; 18-05-2018 at 08:40 AM.

  19. #119
    hangin' around cyrille's Avatar
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  20. #120
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    Quote Originally Posted by cyrille View Post
    it seems
    Exactly, you should understand that swing trading most often is not a day trade. Let me repeat that. Is not a day trade.

    So you may have to wait if you want the proceeds to fund a big piss-up this weekend.

    My latest stats on the Bullish Engulfing indicator tells me that (on average) ETHBTC will take 48 hrs to exit at profit. This is an average, so could go for longer.

    Please exercise some patience.



    Quote Originally Posted by Farangrakthai View Post
    did you set a stop-loss on your eth/btc position or still holding
    Yes, I took a 10% stop-loss on this trade, as I am quietly confident it will come to a happy end.

    But, of course, for reasons of fiscal responsibility, I did not want to suggest that amount.

    But even the 'reckless' 3% I did suggest has not been breached.
    Last edited by Munted; 18-05-2018 at 12:52 PM.

  21. #121
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    Just a recap on the bullish engulfing candle. Here are the rules


    • At day[0] minus 1. Place buy. Apply profit target 3% higher than the entry price.
    • At day[0] minus 1. Place buy limit order slightly below the low of the pattern.
    • At day[0] minus 2. Place buy if limit order price has been reached
    • At day[0] minus 2. Withdraw limit order if limit order price has not been reached
    • Apply a stop-loss 10% lower than the entry price
    • If neither the stop-loss or profit target is executed, close positions on the open of the 20th day
    • Once a position is closed, 3 days must pass before re-entry



  22. #122
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    Quote Originally Posted by Munted View Post
    20th day
    Please be aware that 20 days is equivalent to 120 candles on the 4 hr chart.

    However, due to the volatility of crypto, I would expect the trade to successfully exit much sooner.

  23. #123
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    BREAKING NEWS

    ETHBTC bullish engulfing indicator printed at 00:00 UTC, 4 hr chart.

    The 40 SMA is indicating a significant support level, but is yet to be established

    The next two candles will be crucial on confirming this.

    Attached Images Attached Images

  24. #124
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    Quote Originally Posted by Munted View Post




    The 40 SMA is indicating a significant support level
    nice bullish engulfing candle.

    but, you bought eth/btc near the top (on the 30 day chart).

    any support level is going to be very soft (not tested much):

    eth/btc 30 day chart:

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  25. #125
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    Quote Originally Posted by Farangrakthai View Post
    the 30 day chart
    I've tested quite a number of time frames with BE signal, but never the 30.

    Though I have found that BE works best with the 4 hour.

    And you can go and do your shopping in between.


    Quote Originally Posted by Farangrakthai View Post
    any support level is going to be very soft (not tested much)
    Agreed, but 40 SMA support is now beginning to harden up.

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