nahidik

XBTUSD Smallball strategy

KRAKEN:XBTUSD   XBTUSD
251 1 7
6 months ago
If you are looking for the big short that 10:1 return this won't work.
Sure it is a great feeling picking those and there is a time and place for everything. In this case I looked for fib patterns. When there was a big run up followed by a 35-40% correction price climbed back close to the top we saw an strong move down with one or two candles. If you drew a trend line and bought on the close of the disrespecting candle with a stop just above the retracement, you would have been in a position to double or triple your risk depending how you exited. In this case after the close of a bullish candle.
You could have used many indicators for an exit, perhaps RSI , Stochastics, etc. what ever your poison.
My point is look for these recurring patterns they don't always pan out but combined with other strategies they can be very good for your account.
6 months ago
Comment: The crypto currencies have fallen back into irrational behavior. This can be very scary or fantastic for the brave among us. $50+ swings represents 10% in a very short period of time. I personally will wait for the inmates to stop running the asylum. But if I were crazy enough to want to play in this I would put an incredibly low buy at around $470 with a very large stop and a small position. You could get a wick in and out. Once it has left the zone move your stop to a break even and you are playing with the casinos money. If it breaks up we could be looking at $650. This is not a suggestion of a trade. In fact I do not advise it.

Educate yourself create a plan and trade your plan. Use other's ideas to validate you plan. Be responsible for your own decision. Know your limit, trade within it.
5 months ago
Comment: Could be history will repeat itself on a higher time frame. The first step has been accomplished with a retracement of 43%. Now we watch and see if we get an up move close to the previous high but not eclipsing it. That will be stage two. I will keep you posted.
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nahidik PRO
6 months ago
We had a big move up. Lets see if it gives us a 30 -40% retracement. One step at a time but we could be following the pattern.
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