The Coinigy Market Scanner will be a game changer
Hey everyone, its noon and I made you another quick video:
I want to talk about the upcoming Coinigy Market Scanner. Im really excited for this, and I want to explain to my followers why this would be a game changer for our trading.
If anyone from the Coinigy team sees this post, please spread it to the rest of your group.
We love your tools and platform, but please give us an ETA on this market scanner's release. And feel free to contact me if you want to discuss features that would appeal to full time daytraders.
As always, thanks for your support, votes, and comments,
Luc
Hi Luc,
Firstly, thankyou for your content. I was very sad when you pulled your YouTube channel, as I had only discovered your videos 2 days prior, and was very happy to see you re-emerge.
As a result of watching your videos, I have started 'day trading' (or more appropriately, 'after work and on weekends when I get time away from my 2 year old' trading.
I have some questions:
I recently bought a cracked base on the BTC/ETH pair. Looking at the potential percentage (assuming a return to form rather than an outsized bounce), I was a little disappointed that it was quite small. How do I increase my percentages? Trading low-cap coins only?
Given the possible 10% upside, I felt a little cheated - like I had risked a lot for not much gain. Does it feel like that all the time?
I would need more info about your trade.. my base on that pair is at $170 and I started buying last night at $151 and i also got $142 and now Im hoping for 130 and under.. I am layering and really want more panic .. So im not sure if you were reading the chart effectively, because I dont know your entry
So, I picked my base at 0.08 (it had been tested twice with decent bounces), and cause it was late I set an auto-sell at 0.09 while I slept. But as you can see, thats only 12%. It just felt kinda risky for only a small percentage is all.
https://www.coinigy.com/s/i/596bc688cb6ed/
You did buy a little early on that one, probably because you were not zoomed out to a bigger picture, and looking at 1-2months of data, so that you could estimate what an average panic looks like.. you got in right after the crack of that base, but no worrys, it gave you a bounce anyways
12% ain't nothing (unless you're putting $50-$100 or so down).
LOL. Boo hoo I made 12% while I slept.
The average ANNUAL stock market return is 7%. In a year. 7% gained over 12 months.
You know how much you get in a savings account after inflation? In a year? Negative 5%, minimally.
You made 12% in 24 hours (12?). That's a win.
That's nothing but a win.
Win.
*For the record, I'm laughing with you, not at you.
Well said.
I made the scanner 2 days ago (still testing and adding the features). But already found some cool trades with it (SIB coin, OK coin) Edit - coins falling now :)
do you work for Coinigy? or did you create your own scanner? either way I would love to beta test it for you
It uses Coinigy data and the tickers directly from exchange (to avoid the delay) But technically this is a standalone app. Ok, but for now it's a very very alpha :)
Nice to have a programmer among us.. please let me know how your project goes.. what I need a scanner to do is: spot a 10% drop in price, within a 5min period.. and it has to be real time, meaning it auto refreshes every second or 5 seconds or so.. would also be nice to have a min volume filter (but thats less important)
I was thinking about doing some thing like this with php/mysql, json data, storing the results, and then spitting out specified coins that match. But it sounds like you've already got this wheel invented. Any idea on what you might charge for this once you have it ready? Thanks for working on this, btw!
Hi, Luc. I have a suggestion. In www.http://coinmarketcap.com we have almost 1000 coins listed.
Your group of followers here already has above 1000 people. I suggest that you create a post where everybody can post pictures of their chart analysis showing the bases and possible safe buying zones.
You would only check and comment mistakes your students may commit.
If we spread our efforts, we'll be able to cover all coins and kepp finding the best opportunities for trading. It would be a useful post for all of us and everybody could contribute a little if they want so.
What do you think?
It sounds interesting but I doubt even 25% of my followers are regular steemit users.. if you look at the upvotes on each post, i average around 100 votes per post, so the regular followers are only 100 and the other 900 only visit steemit once and a while.. then the question is how many of the 100 are actually trading.. possibly 30-50 .. and then out of those 30-50, how many will dilegently check the charts for us everyday... i dunno.. but with a scanner ill feed everyone every single panic drop, exactly when they happen..
I am now a devoted follower :). Im sure we could hire a developer to create a customized scanner if no one comes through here. I'd be the 1st to add money to the pot!
Oh, yes indeed.. There is a programmer in this thread that was talking about working on it.. he made a first stage scanner and has been testing it out for a few days.. but yeah, if we all ask around, maybe we can find someone to work on this for us.. I would gladly pay aswell
I am also working on a scanner based on the comments you mentioned in your video
Oh please keep me informed.. if you create this scanner for us, (and it works)we will pay..
Maybe @cyberwolf will create freely for everybody here in the group.
that would be great
I am willing to go in. In coinigy though, in the apps tab they do have a scanner that says coming soon. I dont know how long its been there, at least since May.
I'm a super devoted follower too ! I read your posts daily and I upvote all your posts! ...
And I hope I can get some good trades if you spot any too =)
Yes, the numbers are discouraging.
My hope is that: as people start making more money trading using your method, they'll come here more often and would feel like contributing.
This specific post would also be a way for newbies understand and see examples from other followers. They would realize that the method is not complicated to understand and would be encouraged to apply. The scanner would, of course, be such a valuable tool. Thank you for your precise observations.
I do think that this is just the start.. Im really going to try to keep up daily with everyones questions (as the followers grow), and before you know it, well probably have a group of very profitable traders here :)
Sadly or proudly, not sure which one, HA, I've been scanning charts for at least 1.5 to 2 hrs a day. checking/moving alerts as the charts move.. I was trying to trade on a few exchanges but only focusing on one just due to how long it takes to look at all of them.
I am willing to donate to this scanner. I am trading cryptos full time (for now)
I would love to know if there is any progress, and possibly have us testing/using it :)
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Happy 1 year on Steemit luc ! I paid coinigy and bought some steem coins based on my positive experience from your posts...
Perhaps you can put a referral link to your coingy or any tools you use and we will gladly use your link.. or even a steem donation link as we'd like to donate to you to encourage you to keep posting videos..
We'll see if it happens this year, but for what it's worth Coinigy has this feature on their 2017 roadmap. Sorry if someone already mentioned this, but I didn't see it in the comments anywhere.
This video from Dec 2016 details their 2017 roadmap - which includes a lot of other awesome things in the works as well, like an iOS app, more customizability of the web interface, and even Coinigy's own exchange. Starting at 25 minutes he goes over the ChartScanner they're working on (though he doesn't give much detail).
Hey, thanks for the video link.. Yeah he doesnt discuss it much but it sounds hopeful that it will be here soon.. I emailed William yesterday and hes gonna get a hold of me next week.. I can't speed up the process but I can atleast get some sort of ETA for us.. Meanwhile im trying to get everyone to reach out to programmers and see if someone can build us a scanner
great tutorial,will definitely share with my friend
Hey Luc!
That would be a complete Game changer! Also don't you think a huge game changer would be if we could have a simple function on Coinigy, like "if Price falls below X, Buy X amount, then Sell at X price? Some little function like that so we can program the whole trade at one go would be awesome! By the way check out how this trade went for me, I found this coin looking at the low volume coins in Bittrex, its not super low volume but has a lot of volatility.
free image upload direct link
yeah, well done.. great trade..
sweet trade! those small charts seem like mini gold mines.
Yes BTA is a nice coins, I did a 26% trade there
I have thought about that suggestion myself. "If this, then that." I'm sure somebody has developed a program to do just that. But will they give it to us...
There was some movement today so I finally tried to trade. But I panic sold at the first dip.
ETH
The red candle made me think that I misread the base and it will just bounce up to the previous level. Though I should trust ETH more.
XRP
I bought (too) fast cause the drop was big already, and I didn't want to get left behind. I don't trust this coin to be as reliable, so I made the same mistake of panic selling. Meh.
I also caught almost the total bottom of XEM, but I went in very small cuz it didn't really break anything.
Since it looked like it broke 2 supports or so, then I thought that it's going to only pop up to the previous levels. Since it bounced up where I thought it should, then I assume they were real bases...Guess I learned something today. Also I set up my alerts too soon, turns out I was way too impatient for this trading method. The red shouldn't scare me next time. For whatever reason I expected it to be a linear green till the end of bounce.
Nice drops happen on small coins, but before I get there the price is already up there. Hard to catch with alerts.
ARDR had some kind of flash crash on May 30, sadly it didn't repeat.
both those charts reacted properly.. they broke there bases and bounced back to them.. perfect examples really.. here is where I am presently with ETH:
Great share Luc.....I wasn't even aware this kind of thing existed. This is great because I literally have been going through all the altcoin pairs on bittrex and setting alerts lol.
Anyway, did you catch the panic drop on the BTC/USDT pair today? I got in at 2180, but couldn't sell when the alert came in at 2220 because I was at work.
I saw it but Im still waiting to see if we get a real crack of the 2000 area.. if there is a panic off that I will be ready to buy buy buy..
I bought some BTC/USD and ETH/USD when this week's bear market started, and am down a fair amount from then. I should've waited longer, as least before doing buys of the size I did. I think Luc's advice above is very good - let it go down a fair amount before buying in. We could see this bear market / correction continue - god knows everything's gone up like crazy the last 3 months.
EDIT Sunday morning: Holy shit. What a breathtaking drop. Nice to see something I said turn out to be wise!
Yup, its Sunday 930 am and ive started buying in the 150s and 140s and hopefully 130s and below.. we are now in a safe circle
Luc - Can you please take a look at BAY/BTC on BITTRIX, and let me know your thoughts on this chart.
If I placed a buy after the first crack below the base at .00001000, I might have taken a 10-20% loss... or should I just patiently wait for the bounce?
Should I now consider .00000700 to be the new base?
here ill post my buys and sells for you... but yes your safety circles are spot on.. good work..
Im not taking a loss on those last entries, im waiting for a bounce.. but if it BTC takes a nose dive it may influence BAY to crack lower, those are the breaks.. Still your entry was good and was a very high percentage trade, so thats great trading.. as you will notice in the chart I have already made many profits on BAY.. so if the worse happens and it cracks lower, im not to hurt by that.. however it will likely bounce.. buyers are just nervous here because of BTC forking issue
Thanks for posting your chart @quickfingersluc, that was very helpful for me.
As a general rule of thumb, how deep does the crack need to be for you to consider a buy? I've been looking for situations where the crack goes for an 8% dive or deeper to assure my trades are restricted to only ones that have a high expected value of return. Would you consider that a good rule of thumb or is there a different metric I should use?
If you have the free time I hope you can discuss the current uncertainty in the market due to BTC forking on August 1st in an upcoming video, and how your approaching this highly political issue within your trades. I would have assumed the uncertainty in the market would be good for your trading style, but I'm beginning to realize that my assumption may have been wrong.
Keep up the GREAT work, you are hands down my favorite source of market knowledge at this stage!
Another awesome video, Luc! Thank you!
Hope Coinigy check your suggestion. It'll definitely be a game changer for all of us, Luc's followers. :)
I totally agree.. and Ill let you know when I get a response.. I used to be part of there YouTube Channel, so they know me..