RE: New Tools. Breaking Base Scanner!!! plus an active slack Chatroom
Hello Luc,
In advance, sorry for my bad english, i'm French :)
Thank you for your videos, i'm a beginner in crypto trading and its help a lot.
I have invested 7.000 euros in my account during the last 3 months and today i'm at 9.000 euros (1000 euros are due to 10 ETH bought some months ago).
So after seeing your videos i tried position trading, but i don't have any strategy. I draw my base, i saw a panic mouvement i buy some, but how many should i buy ? 10% of my all money on the first fall and 10% the other one ect.. ?
I don't really know how much i should buy, and if there is another opportunity how can i manage it ? (% bouying and split, increase your buying during the falldown...)
Have you some advise and exemples on how you will position trading and manage it with 10.000$ for exemple ? Have you specifics rules ?
Thank you and have a good night.
Kevin.
Hi kevber, I'm not Luc but here are some of Luc's responses that you can take into consideration. These are comments on other questions on this blog:
"Only trade 10% of your account at any given time if your worried about getting struck by lightning. "
"Buy no more than 25% of your account in one position. That being said, if you learn to read charts, you will almost never have a bad trade, therefore on the rare occasion when it does turn the wrong way, you won’t mind taking the small loss and jumping into the next trade without hiccup. "
In one of his video's he explains that he trades with only 10% of his bankroll. Which he says is quite a small percentage for his size.
Luc also mentioned to start small if you're new to trading. Yes you have 10,000 euros but if you don't have any experience it's safer to start with less money and build up from there.
So for example. You have 10,000. Use €1000 and divide that in 3 coins. So €333 per coin. Don't buy one €333 position but layer in in your order. So for example an €30 nibble, €100 nice position and €203 final position (this is just an example you have to play with these numbers)
yes if you use €333 and you made all the right calls you can make around €80 per trade (25% trade). Which isn't a lot considering you probably won't make all the right calls in the beginning and because position trades don't happen everyday. It's all to get a hang of the method. Please don't throw €10,000 on a few trades just because you see Luc having success. Everything looks easy if an expert is doing it.
I think you explained it very well for a lot of people! upvote
Hi Freshprince, thank you for the answer and the advise, this help a lot.
I will try to apply this way.