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RE: Bitcoin Double Top Formation ? Double Top Explained [06.03.18]
15 hours after your writing double top patters completed. Nice post! catch it a little late.
15 hours after your writing double top patters completed. Nice post! catch it a little late.
Thank you ! To be honest I didn't expect to happen that fast, but I guess people are somewhat concerned over something. Hope you are making good money :P
I can't tread short on BitShares I'm idle. Actually I ladder in using margins but BitShares have no mechanism to correctly settle short trade, so I have to wait to price come up again and I end up with bunch of extra BTS in my pocket.
Now I am in the middle of the process exploiting this sharp dip Bitcoin made. BTS is high correlated in price moves, so there is a spike in BTS too.
Oh, I see. What do you mean by "I ladder" You are bulding a long position ?
It's hedging long position in correction periods of overall uptrend, yeah!
I borrow bitUSD from blockchain for some collateral in BTS on lower heights and when price drops i buy back BTS at a lower price and maintain collateral of borrowed bitUSD. I always calculate how much bitUSD I have to have to cover the worst scenario. This is 100% loss measuring from the beginning of last uptrend impulse wave, which is very unlikely.
This way I increase position in BTS in correction phase and profiting back in impulse uptrend phase.
At the end of uptrend when I want to exit this trade, I reduce collateral in BTS to minimum, wait that margin call is executed and then sell reminding BTS.
It's a bit complicated (some tutorial will be great to write), but is the only way on BitShares DEX to profit something in downtrend movements. (effectively a complicated way of shorting)
I guess a BitShares Tutorial Series might be very beneficial for the community and you can earn yourself some good rewards :) I think you should do it as a lot of people here use BTS
Definitively must find some time to do it!