My thoughts exactly! The pressure that builds and the patience one must have while waiting at these critical junctures. That sucker was either gonna spike sky high, or tank with some whale’s sell dump…looks like the latter happened and the big heads up was @scraggyhound’s ccn article on large BTC quantities being shuffled around. When I saw that and then saw ALT’s starting to pump, I went shopping elsewhere and just waited on BTC to do it’s thing.
@scraggyhound: as for how I find these gems, this is gonna seem a bit mind-bending…but it’s just a process I’ve built up over the last 9 or so months of building and practicing and learning and it all fits together into a cohesive whole that bubbles up the new gems to the surface.
I mostly trade on Binance and I tend to focus on top 25 by volume. When something new comes along and it’s dominating the volume, it’s a good one to keep close tabs on and watch for opportunities to milk for profits. It’s this singular characteristic that usually brings the “new gems” into sharp focus for me.
I do have an alert script integrated with Slack that let’s me know of all new coin pairings listed on top ten exchanges. On top of that, I do have bots doing their trading thing, so if they suddenly start trading a new coin and making $$, I start watching those coins a mite bit closely for the bigger manual trades. The bots are chasing 0.25% to 2% profits. If I’m doing a manual trade, I’m trying for 2%, but usually hoping for > 5%. The bots trade much smaller amounts so that working capital isn’t exhausted and they have room to grow.
When I manually trade, I can trade up to 25% of working capital on any one trade (25% is arbitrary threshold rule of mine). When everything dips and starts to turn, I tend to pick four and go “all in” at 25% on each. Four is about all I can watch manually. The only other exception is when bleeding red days that are extended two or three days…then I use my “catfish” bot and go all in on all 25 top coins by volume and the bot rides all 25 to highest profit it can take from each, which is basically to say bot waits for a 3% gain, then start following with stop loss at minus three times ATR. So, yeah, I’m kinda intimately familiar with what’s going on with the top 25 at all times, so “new gems” tend to stand out like the new kid on the block in the neighborhood.
On TradingView, I keep several watchlists handy and it helps me quickly scan through the markets. The way I like to do it: Top 25 is my list of top 25 coins by volume, which I update once every week or two.
BTC Pairs is all BTC pairs on Binance
USDT Pairs is all USDT pairs on Binance
BNB Pairs is all BNB pairs on Binance
When I manually open any positions, I click the Flagged button on the market pair and that gives me a quick way to scan through everything that’s open via TV’s “Flagged” list. I also put the new coin listings into the Flagged categories if they’re looking like a worthy contender to trade just so I don’t forget about them – sometimes a new listing needs to pan out over the course of 2 or 3 weeks before they’re worth messing around with risk-wise and I’ll almost certainly forget about them without flagging them.
Dunno if that helps or not, but that is my world and it allows me to trade without obsessing 24/7. Last week was a bit of an exception since I messed up so badly and I go on, I guess you’d call it a rage, binge trading to pull back a loss to the zero line. I don’t like losing. And by that, I mean week-to-week net profit…during the week, there’s always losses, I just try to be right more often than not and 60% right is a good batting average for me (and yes, another arbitrarily chosen mark to aim for).