BTC almost $4,000!!! Will it hit $6,000 or more? Where do I take profits on my Free coins?
Its a Saturday afternoon and I want to make a quick video to explain what I'm doing while BTC hits near $4,000 ..
Also I would like to answer a question about taking profits on my investments. You have all seen me creating free coins , using my method of drawing bases and buying panic drops, then selling the reaction bounce.
But when do I finally take some profit from those free coins I have created???
I tried to describe my style of investing as clearly as possible, so that there wouldn't be too many questions about why or how I take profits. But please feel free to share your process of taking profits, especially if you feel it could be an improvement on mine.
Thanks everyone for supporting my blog,
Luc
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STOPIs there a slack room for this type of trading? If so can I get an invite please.
check previous post and comments.
QuickFingersTraders.Slack: https://join.slack.com/t/quickfingerstraders/shared_invite/MjIyNDkzMDk4MzU4LTE1MDE3NTM5ODctOTA0NTNiZTc1OQ
Fully deserved! Thanks Luc
Well deserved! Thanks a million Luc.
This reply is just to thank Luc for all his time,support and good will :-D
Thank you very much man you are changing lives of all of us!!! :-D
Upvoted ++
I've been selling some BTC to take some profits off the table, but I'm secretly wishing for a pull back down to that $3000-$2500 level ya know lol 😁 #InCrytposWeTrust
and BTC is so fast that others coins cant pull up ;p I was thinking that was end of panic, but it wasn't ;p Now when I'm reading Your text I lough because I have couple of bucks and other coins and no btc ;p Waiting it's boring :)
I was wondering how you deal with taxes and capital gains? Since I dont ever pull money out of the exchange to my bank account does the IRS consider every trade taxable one by one while its still on the exchange or does tax not come into play until year end? I trade coins as well as sell coins to USD but I have not pulled anything out and dont plan to for at least a year. Thanks.
Thank you, Luc! Another masterpiece! All Luc's videos are very helpful.
I noticed though that there are people who still don't understand his trading method. I've got a friend that criticized and had a twisted interpretation of it. I clearly noticed that he didn't understand it properly because since I started following Luc's teachings I didn't lose any money and I'm making free coins all the time. Although everything he explains is simple to follow, it still requires some dedication to master it. In this community, all the information necessary is explained over and over again in many comments. I wish everybody good luck in your trades!
I'm glad your having success and I appreciate your words of support. I knew, when I started making this video series that there would be many people who cannot grasp my methods, even tho they seem so simple to me. But its great to hear a few that grow there accounts and realize that it does actually work.
I believe some people won't grasp your method but the knowledge is here for anyone, anyways.
Some people may become frustrated for not being able to understand it quickly, but it's part of the game. Maybe the same person will check the information again in the future and then understand it. Not everybody is the same, not everybody has the same rhythm to go along the learning curve. In any case, what you are doing is amazing. Will change many people's lives, for sure!
Luc, Would you be kind enough to do a video these days explaining a bit about this massive drops in alt coins?
All my alt coins position have broken bases and are in a free fall.
Now, the question is to keep on buying more or just wait for all this mayhem to finish and wait for the coins to reach it bases and sell.
And as an experience trader what would be your suggestion to newbies like us? Thanks in advance :)
.
Again a great video @quickfingersluc. Very clear to follow and nice strategy. I'm new to trading and i've bought a share of IOTA coins which are now sky rocketing. I already took 50% out of the investment , breaking even. But indeed this leaves me with less margin for the future. Your strategy of selling 30% of your profits at these situations and buy back when sell-offs or corrections occur, is great. I will try to follow that 'rule'.
One thing however that is difficult still to master is when bases are broken. Your videos make it look like a child's game. You seem to be spot on all the time on the lows and the highs, but the only thing i see at a moment in time is.. ok this can be a base.. hmm what should I do.. is it falling, is it going up.. how long is it falling, how long is it going up, at which point do I take a position or a sell..
And next to that what I would also be interested in is how you deal with drops instead of rises. Let's say you have a position in BTC at 3800$ and now it starts dropping from 4100$ back to 3800$. Do you wait? do you anticipate at 3900$ to sell that trade ? What are the best options?
Still a lot to learn :)
Cheers and happy trading !
I would also like to add that it would be great to see you (Luc) drawing your basis in real time as the chart is unfolding so as to get a better feel and perception of when to draw a base. Like with etherem right now, I am not sure where the base should be, if at all there is reason to draw one right now.
Really appreciate your videos!
and also @quickfingersluc when do You feel that is the end of panic and drop. How You see it on the moves in sells/bays? and wherever you pay attention. I have seen ones "big fish" when they first took 200 $ from BTC to 3800$ and stops panic on few others coin and then pull up btc too 4040 in few minutes(other coins drops long red vertical line in minute).
And @quickfingersluc really thanks for everything what Your doing. You really changed my life ;)
I would strongly suggest to check this:
https://medium.com/@bitfinexed/are-fraudulent-tethers-being-used-for-margin-lending-on-bitfinex-5de9dd80f330
It might explain why we have this rally on BTC and why Tether is hot potato.
@quickfingersluc could you please comment on this one?
Oh my, thank you very much for posting that link. I have been hearing warnings about tether and bitfinex from a few other followers and I love seeing stats and numbers. That article gives me alot to consider. As a safety, I will start moving money out of tether for now, I have way to much and I will investigate this further.. But if there is any truth to this, there would be such a huge dive in BTC when this tether thing implodes.. sheesh
I sent a private message to you on the Slack regarding this topic. Check it out when you have a moment. Thnx
Another article on the same topic: https://hackernoon.com/meet-spoofy-how-a-single-entity-dominates-the-price-of-bitcoin-39c711d28eb4
Hi Luc and other more experienced fellow Crypto-traders,
I have a question:
I am currently trading only on Bittrex and do not intend to do multiple exchanges until I have more experience and more funds. I appreciate that there are only so many opportunities in a given day to buy positions and/or sell positions. What is the maximum trading per position before this cannot work? I imagine that I would be able to trade a larger amount of BTC per position in a coin like Ethereum due to its high volume. But with some other lesser Altcoins, I cannot be purchasing, say 10 BTC every time it cracks a base as otherwise I would be causing a surge in the price.
I guess what I'm asking is what volume/turnover of BTC is someone like Luc trading on a daily basis?
I've seen Luc say before that he just tries to fit in with an average buy for those smaller volume type coins. With many of the smaller coins you just don't want to stand out and you should be fine. If the coin itself has a volume of 50 bitcoins a day then yea putting 10 in as a buy could be a risky proposition. Putting 1/4 of a bitcoin would probably be just fine, but again it all really depends on the coin, the point to be taken is with the lower volume coins to just blend in with the other average buyers.
Thanks for answering for me.. Thats exactly right, blend into the normal action.. That's why all the big trades need to be in BTC and ETH and larger coins where you can execute large trades without effecting anything
How do you calculate "normal action" for a coin? In other words how can I determine the maximum amount I can put into a trade without effecting anything?
Look at the lvl2 data, compare the bis and the asks. You can also look at the market dept for visual conformation, although I find it only helps to identify where walls exist.