Introducing our first Crypto Market Scanner
Im sure everyone is excited to try out our new market scanner.
Im making this video quite early in the morning, so please forgive my groggyness (not sure if that's a word). Ill be taking the rest of the day off today, but I wanted to get this market scanner out to everyone, since our programmer @nervisrek has given me the ok to release it.
So let's discuss how this market scanner can be used to find amazing trades:
Here are the links to the Telegram channels:
cryptomarketscanner -- https://t.me/joinchat/AAAAAEQVwc8GvryTpgLL8w
anouncements and news -- https://t.me/joinchat/AAAAAEQUPCCuu3snF_F8EQ
@nervisrek can be reached at cryptomarketscanner@outlook.com
Thanks again for all you support, and comments. Everyone has been very positive and helping each other out. I could not be happier with how this blog and trading community is growing.
Luc
Hey Luc, did you see my post on your other thread? I released my own market scanner yesterday, I'd love to get your feedback on it. It's a bit different to nervisrek's (great job btw!) but it gives you the ability to filter by a specific change threshold, so as to only show coins that have dropped 5%, 10% etc. in the given time period. In the near future I'll be adding the ability to filter out specified exchanges and markets as well.
You can find it at cryptodrop.net or read my full post at https://steemit.com/cryptocurrency/@bulk-coinz/cryptocurrency-market-scanner-now-live-cryptodrop-net :)
im watching it now.. does it only refresh every 5 minutes? it says updating every 5 minutes.. our other scanner alerts seconds after a move happens, and often thats even too slow to react.. every second counts with daytrading..
Hey Luc, there are some other refresh periods in one of the two dropdown boxes at the top of the page. The way it works at the moment is that whatever lookback period you select, it will refresh after that period of time and then look back that many minutes to check for changes. So for example if you choose a lookback period of 10 minutes, it will look at the last 10 minutes of data for each symbol, compare that against the change threshold field, and display each symbol that has changed more than that amount in the last 10 minutes, then wait 10 minutes and do that again.
The shortest refresh period at the moment is 1 minute - I can definitely make that shorter but the question is how far back should it look for data? If it refreshes every 5 seconds but only looks at the last 5 seconds of data, it's unlikely that any symbols will have changed more than 5% in 5 seconds. Perhaps we should have two fields, one for the refresh interval and one for the lookback period. What are your thoughts on that?
I'm still new to this, but I'm guessing Luc will tell us that the refresh can always stay around 1sec (or as short as practical), and shouldn't be related to lookback period. Maybe I'm missing something though. Is there a reason you linked them together?
Noticed the alert noise and "mark as seen" have been added. Thanks very much!
Side note- your scanner just alerted me of 2 huge loads dumped so far at BTRX XLM/ETH just now. I made a trade on the 2nd one, hoping for a 3rd dump. Worth keeping an eye on
I'm glad to hear the site's helping you find good trades! Originally I had the lookback period and refresh interval separate but I combined them for the sake of getting the site up asap. The problem arises when a duplicate entry is formed, ie. when a symbol is displayed and then on the next refresh it is also displayed again. What should happen in this case? I'm thinking that it should replace the original entry if it has dropped by MORE than was shown in the the original entry, otherwise the original entry should remain. But then at what point should it not be shown anymore? When the user marks it as seen? After a certain period of time?
Once I know what's preferred I can get started on implementing it :)
Hi Luc. About Nervisrek Scanner. Awesome and thank you for sharing. Please, I have a question. When there is a considerable drop of one of the altcoins, would you place instantly a limit order slightly above the dropped price reached? So when it bounces back or pullbacks, you would buy almost buy to the lowest price? Thank you very much!!!! Or what would you do?
Thank You!!! Best Regards Rodolfo
JUST A HEADS UP GUYS!
I don't know if anyone has mentioned this yet, and I'm sure a lot of the experienced guys are aware, but for all the newbies out there!
The scanner is picking up a lot of price drops that are dropping from pump and dump groups! Be very careful of these because after a pump and dump group has pumped up a low volume coin 50-100% (you will notice its just one huge green candle coming out of nowhere!) The scanner will notify us after it drops down a bit. The thing is if this is from a pump and dump group, that price is not going back up. The only reason it went up is because a group of people got together and bought the price way up and are waiting for people to buy in so they can dump the price right back down onto the unsuspecting people not in the group. a lot of the time they are actually dumping the price on people inside their own group who are trying to get in late as well.
just keep this in mind when using the scanner!
Happy Trading.
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STOPI WOULD ADVISE AGAINST BUYING QRL! The scanners are reporting a big drop in QRL but this could be owners dumping their coins. There is some rift within the project that someone within posted. Right now I'm trying to break even on my position,
https://bitcointalk.org/index.php?topic=1730273.460
I concur. Always read the social media on a coin before buying into a panic, thge extra 30 seconds it takes to catch the headlines may save you from being stuck in a position.
I bought allready too late but I WOULD ALSO ADVISE AGAINST BUYING QRL :D
I buy QRL too!, already exit with small profit.
https://www.coinigy.com/s/i/597bc2b0e9e9f/
Currently I have another disastrous purchase:
https://www.coinigy.com/s/i/597bc3410144d/
I created a blog about this and what I did to get out of the trade and minimize loss. Credit goes to Luc for his teachings (it would be nice if he can review for me :) ) and credit goes to nervisrek for the scanner tool. Let me know what you think in the blog. This is more of a learning experience for me.
https://steemit.com/trading/@oneluckyflip/beware-trading-qrl-how-i-minimized-loss-on-a-trade-gone-bad
Hi Luc! Thank you and @nervisrek for this amazing tool. By the way, I am making a bot that can buy the coin with certain conditions. If I was to use the scanner, what conditions should I put the bot so it will automatically make a buy order? One is a 10% 5min drop or more, maybe if its below 24hr low too? I know the idea is to take the scanner alert and got to the chart, but I want to try this bot. Thanks!
What will be a good % volumen change to mix it with the 5min price change, like comparing the last 5min candlestick volume with the 24 hour volume. What will be a good % change? I was thinking a 5% spike in volumen compared to the 24 hr volume. Any ideas?
I think a useful tool for non-fulltime traders would be that if your buy order gets filled it would automatically sell at a predetermined price, that way you wouldn't have to worry about missing the sale if you're away and it would work with Luc's technique perfectly.
Yes. I have a bot in poloniex, detects when a coin goes down more than 10% in 5 min. But the thing here is, where to put the buy order? Right in the 10%? What if it goes lower? At the moment, I am buying just at 10%, or where the variation is. Then, after it successfully buys the coin, it puts a sell order at 5% margin (just to be safe, and not to put it in a 10% gain, better to have profit, that not at all!
So, what ideas do you have? What could be a general rule for the buy and sell order?
I'd be interested in learning how to make a bot. Any good references on where to learn?
I am not a programmer, but I started learning from other bots on the web. I thank xcbtrader for teaching us and donating this bot on Poloniex. I customized it to my needs.
https://github.com/xcbtrader/pobot
Thanks!
May be it's a good idea to put a sell order on 5% margin and make a trailing take profit: when the price goes up without a stop you won't sell, if it then goes down and reach some threshold, you'll sell.
For instance. You buy at $1 price , set a trailing stop at $1.05. The price goes to $1.08 and then goes to $1.06. You set a threshold of going down for 1% and sell at $1.07.
I think that that is very possible to do manually
Wow, that sounds amazing! Let us know how it goes.
Even though the bot is way faster to get to this opportunities, check thoroughly if it is stable in the long run. You don't really need a bot for these kinds of trades as they don't happen that often and the scanner is already doing all the work. Sometimes accuracy can beat speed
Yeah I know, it's just that I want to make it automatically. Anyways, I will be on the computer most of the time, I just want to catch the drop, and the bot can be quicker. If you have any ideas, let me know!
Careful, the scanner also captures a pull back. So the price may have gone up and then notified us on the way back down
What will you suggest for that situation? I mean, the bot I want to make is not for every situation, but we can try to cover most of them.
Here's a question I was thinking about while I was watching your video. around 18 minutes you were explaining how when there's a spike upwards the safest place to buy is at around 50% of the spike (the pullback) because 1. if it goes up, then you get profit, and 2. if it dives, it will most likely return to around the 50% mark where you would buy costing you little to nothing.
My question is this. If the price keeps diving in scenario 2 , why not keep buying as it goes down if it will most likely either return to around the 50% point or higher? That way instead of merely getting out even in the second scenario, you would profit from the low price buys. Is it too risky? Here. I'll try to include an image to clarify my question.
Uau! @nervisrek, Thank you very much! I'm sure as we all start growing money, we will all make donations! This is a true trading community! Not these other communities where the owners are only interested in making money and take advantage on other people lack of knowledge!
Thank you Luc for helping all of us!
Let's upvote all Luc's posts and comments, guys and girls!
Very excited about the scanner, thank you to @nervisrek for this!
but when you were talking about the 3rd type of trade would you buy on the first rebound only when it has a a drop of around 50% or would a 20 or 10% rebound be just as safe?
SWEET!
Suggestion would be 24 hour volume minimum of 5 BTC and 50 ETH, otherwise you are going to get these miniscule buys/sells that will intentionally drive the pricing. Or maybe logic using the last volume values, tho that would be a little bit more challenging.
yes, there is a filter for minimum 24hr vol there atm that luc mentioned when building it, but it is very small. We will need to find a suitable value for everyone, there may be an average min volume everyone would be happy with?
yes, id say AT LEAST 5 BTC 24hr minimum and 50 ETH. Or maybe we can have two seperate channels, one for the lower volume more volatile trades, and another for the larger coins for big trades. Is there a way that the scanner can notice the longer 2-4 hour panic drops on the bigger coins?
Nice! and thx. I got something for you once I complete my first trade using your tool btw. For the volume value, probably best to defer to Luc.