previous thread: "Daytrading is a meme" edition
BTC shows absorption above Expensive level. Somebody is taking 2.4% profit. Control Price has shifted to overpriced level.
Crypto Daytrading General
Brayden Hernandez
Other urls found in this thread:
twitter.com
initialmiddle.herokuapp.com
twitter.com
Isaac Perez
bump
Nathaniel Garcia
Are you using the initialmiddle app? Could you post an example on how to enter a trade based on it? I don't see to fully understand it (already read the learn page) specially when it comes to where should I enter and set my stop-loss order, I mostly swing trade using TA so I set up my risk using technicals.
Juan Miller
You know there are literally bots that can do this right?
Binance and OKEx APIs are most widely used.
Isaac Morris
>You know there are literally bots that can do this right?
>Binance and OKEx APIs are most widely used.
True, but most retail traders like me do not have the time to study/program/backtest the bots. Most of those bots/signals are paid to use too. Also, tradingview charged their users just to use the volume profile indicator. So this thing being free to retails is a blessing to me.
>Are you using the initialmiddle app?
Yea I am testing strictly using the app without any TA since Friday. So far so good. Even though I am scared on my first trade. Three trades done now. The second one failed because I did not stick to my strat.
>Could you post an example on how to enter a trade based on it?
Right now I am still testing the strat, so I dont know if I can deliver what you want... I will try to post my analysis/reasonging on my next trade.
>I don't see to fully understand it (already read the learn page) specially when it comes to where should I enter and set my stop-loss order
Yea I asked them what is the purpose of this app and why there are no "buy/sell" signals, and they replied that the app is not a signal generator, it just shows you the condition of the crypto market and it is up to us on how to react to it.
As for the entry/stop loss (buy), followings are my strat:
1) Wait until Close price reach below Cheap zone
2) If Cheap zone did have a comparable volume node, then go to step 3, else wait some more and repeat step 2
3) Layer my buy orders on the volume node, and set the stop loss on the lower edge of the node (so that I can get out quickly)
Right now if you open the BTC page, you can see we have more traders on 9750 compared to 9470 on the f(2) chart, so to my understanding: it will go down as all the buy orders are being absorbed. Also the Sellers (11.3%) above Expensive more than Buyers (10.8%) so it is a sell-off? Correct me if I am wrong.
Adam Ward
What I learn from the latest trade is, not to sell my buys too early as in my OP. because when BTC were absorbed like right now, all the capital moved to pump the Altcoins. If I wait some more I could get around 4.5% range but my realized profit is around 2% range.
Adam King
hi OP, i am one of the developer. It is motivating to see someone is already utilizing it. I just checked your previous threads, very nice trades.. I feel sorry for your EOS bag tho, kek.
So how was it? Do you have any problems using it to read the chart? Is there anything that is not clear?
>I don't see to fully understand it (already read the learn page) specially when it comes to where should I enter and set my stop-loss order
Hi user, to start you can check out the Cheap and Expensive. That price is the extreme price which might attract responsive buyers/sellers.
We built this app as an effort to combat the trading culture that relies on technical indicators that keep on generating false signals.
Sorry to hijack your thread OP, but if any of you have any questions, feel free to ask me or join the discord server..
Luke Fisher
BUMP
Dominic Torres
What time frame is this thing working on? also, I joined the discord server but there's nothing there and I got kicked out.
Brandon Sanders
how can you daytrade a shitworld with no volume?
daytrade the fucking stocks
Connor Reed
>i got kicked
wth really? hold on I will try setting the channel. Yea it is nothing there because we do not have much to share currently.. It is a medium so we can talk to users, plus we do not share this outside Zig Forums/biz..
>timeframe
1 minute, but timeframe is not important really. What is more important is the duration. Like the current one is set to 24.5 hours.
Adam Bailey
discord: yPA3jvF
here you go.. very weird, the other 2 users were not kicked, and the previous invite link has the temporary membership disabled
Ian Bailey
>I feel sorry for your EOS bag tho, kek.
Stops were tight so it's all good :)
>So how was it? Do you have any problems using it to read the chart? Is there anything that is not clear?
Yeah why do you guys limit the timeframe up to 24 hours only? Can you make one for a longer timeframe (maybe 3 days?). It is hard to analyse the chart when BTC becomes a stable coin. Anyways, your team did a very good job.
Jayden Torres
By the way, I suggest you delete the discord. If your objective is just to talk to traders, won't Zig Forums suffice to do just that? I can create the general for you and include the website's url in my OP
David Wilson
lol. pic related trades are less than fees
Caleb Richardson
fee is 0.075%, profit is 2%
Daniel Martin
We made limit the duration up to ~24 hours because it was meant for daytrading or telling us what is the story within the past 24 hours.
>It is hard to analyse the chart when BTC becomes a stable coin.
I see. That is a problem. I will discuss about this with my partner.
>I can create the general for you and include the website's url in my OP
Thank you again fren. Big help!
Joshua Cox
Who is ready for Tron 4.0?
Carson Cooper
no problem
Jacob Bell
So, right now btc chart is showing price went above the current expensive level (9775.99) and there was some absortion after that, price gained sellers at 9731 level (f2) and most of the trading activity (selling) stopped arround this level too (f4), am I ready this correctly?
Sebastian Cook
>Find 2 projects I like, OMG & LINK
>swap 30% LINK for OMG when OMG is down and LINK is up for the day
>swap back once it goes into profit slightly and do the opposite
>rinse and repeat
It’s going quite well so far lads
Evan Wood
Where can i get the app?
Luis Edwards
Link is in the previous thread
Luis Rogers
here you go initialmiddle.herokuapp.com
sounds about right. Though the developer states that f4 is still experimental so I dont want to comment on that
slowly but surely we will make it :)
Sebastian Jackson
Thank you gentlemen
Cooper Lewis
will look at your app, looks nice
Ayden Phillips
I'm an 18 year old fresh graduated from HS looking to get into investing and stuff. Where can I learn about the basics of Cryptocurrency?
Sebastian Stewart
>investing
>crypto
which one? kek.. crypto/forex is not for investing -- they are trading vehicle.. if you want to invest, go stocks
anyway, all you need to know about crypto is that it is digital money, banks hate it, unregulated by the authority and extremely volatile. There, I have saved you 2 years of learning.
Adam Gonzalez
looking good.. how to read the response table?
nowplaying: Metallica - Unforgiven
Joseph Brown
join @ChadLounge on tg
Charles Jackson
am a veteran there, Noc ;^)
refer to picrel. (a) shows you we gained buyers at every highs (f2) but as we approaching current time, we are losing buyers (f3). Next, (b) shows we keep getting new sellers at every highs of the chart, since both f2 and f3 is positive. Lastly, (c) shows that we lost sellers at every above fair zone, but as we are approaching current time, sellers are reentering to trade.
Up to you on how do you want to use this info.
Matthew Thompson
T R O N
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Ian Hernandez
if u open the Binance page now.. you can see that on f2 we gain have big sellers near expensive zone, and also losing big buyers.. I think it is a clear sell-off.
On Benchmark too, look at Binance.. Sell volume is dominating, big difference.