The Daily Swing-trade - What are you trading today?

bitcoin
swingtrading
trading
altcoins
technicalanalysis

#1

One of the best topics I’ve read in the pub was “Swing-trading ICX” because it generated so much incredible thought and technical analysis. I love watching this stuff, but sometimes I don’t know which coin to trade each day, especially when the alt-coin market is semi-dead like it has been the past few weeks.
For any of you into swing-trading, whether you’re a pro, or just a newbie to the game, please post all of your daily thoughts each day on swing-trading here.

Here are some ideas and thoughts I would love to see on this thread. :slightly_smiling_face::bitrocket::grin:

  • What are you swingtrading today/tomorrow?
  • What are your exit/entry goals for the day, week, month, year? Send numbers!
  • What’s your stop-loss strategy?
  • Where have you been successful in the past, or today?
  • Where have you made mistakes that you’ve learned from?
  • What articles have you read that you have learned great strategies from?
  • What books have you read about crypto/stock trading that improved your skillset?
  • What news is about to come out or has already come out that will affect coins massively in a positive or negative direction?
  • What chart patterns are you seeing in the big picture that look good/bad?
  • What chart patterns are you seeing in the small picture that look good/bad?
  • How is your portfolio diversified? Why did you diversify your portfolio that way?
  • What are you HODLing?
  • Which coin has made you the most money in BTC or USD? (specify)
  • Send the pub some pictures of your work-space! How does your office look? What’s your favorite part of your workstation.
  • What is your daily routine for each day before, during and after you start trading?

This can be an incredible source for learning, expanding our horizons, and especially letting day-traders know about certain things within the market which they may not be aware of. Therefore, please please please DO NOT bully people. Don’t make them feel bad about bad trades, but provide constructive criticism and helpful tips. Nobody knows everything, so those who act like they do should not take part in this topic. I’d like to learn from this post, as well as be able to decide which currencies are best to trade for the day and I want others in this thread to feel like they can post actual numbers and actual mistakes without being belittled.

You’re all awesome. Thanks for all your future posts!


#2

When I made my first deposit (last month), I was so excited about plunging into the world of trading crypto and generating daily gainz from day trading. However, I had a bit of a rude awakening. I invested in a popular coin which showed daily gains of 3-6%…however after investing all my deposit, that coin just stood there for weeks in stagnation. During that time I did lots of research and went through the B90X Program (https://thebitcoin.pub/c/b90x). I learnt a lot and realised that day trading was not for me.

Better to buy the dips and sit back and WAIT a few months when the market starts bubbling with activity. That’s when you cash out the gainz. Definitely beats the emotional frustration and anxiety of constantly monitoring charts hoping for that magic trading window…which may only pop up once or even never for the day. In my opinion its less nerve wrecking and more rewarding. But then again, some people just like the adrenaline rush! :sunglasses::rocket::roller_coaster::syringe::pill:


#3

Hai,

Firstly, I should say, just about all my swing trading is automated by programs I have written, however I am going to reply so that it might help others attempting to trade.

What are you swingtrading today/tomorrow?

This varies based on what looks to be the most promising at the time. I do not care about what the fiat price of a coin is, the objective is solely to obtain more BTC and ETH. With this objective in mind, it is handy to know that when the market dumps, some ALT coins do not dump as fast as others and therefore increase against their BTC or ETH pair. So while both are loosing ground in terms of fiat value, there are some ALT coins which go down slower and therefore increase against ETH. A good example of this is generally Litecoin, which tends to slightly rise by 3-4% against ETH when the market is trending down heavily. This is not always the case and picking the right ALT coin is a bit of a gamble at times.

What are your exit/entry goals for the day, week, month, year? Send numbers!

My programs enter and exit generally within a few hours at most with my record being 25.7 seconds. On the short one, the programs traded BTC for BNB, then BNB to ICX, then ICX to ETH and finally ETH to BTC with a 6.75% gain after transaction fees in just 27.5 seconds. Programs can out perform humans due to the processing speed and being able to watch everything simultaneously. I do not believe hunting these types of trades is possible for something not automated.

What’s your stop-loss strategy?

I generally have a 0.5% buffer. If a trade is entered into that drifts below the 0.5% buffer, it will market exit, which tends to loose another 0.3% on average, so the exit will on average result in a 0.8% loss but can vary. The programs go to sleep after such an event for a few hours then re-enter after collecting all the new data and use a smaller volume for the next hour depending on results.

Where have you been successful in the past, or today?

Was successful in obtaining 25% more BTC today. Sure BTC is down quite a bit to the fiat value, but 25% more BTC coins is where my interest is at.

Where have you made mistakes that you’ve learned from?

OMG! There is so many. I never suspected the shenanigans that goes on as these just don’t happen in Forex trading. Things like people selling a small quantity of a coin at 10% lower than current market price just to trigger all those stop loss limit sell orders just to see volume before they dump. The shenanigans is real. The other big mistakes are mostly around the wrong entry time and rules processing and not checking for volume history.

What articles have you read that you have learned great strategies from?

There are many great Youtubers on Forex trading and strategies. These are a great start for anyone wanting to start trading.

What books have you read about crypto/stock trading that improved your skillset?

None. I have been a Forex trader for years. It is the same principles, but you have to be on your toes more due to the “unique” things that happen and are done on crypto exchanges. I think the greatest quote I have seen is to “learn to be comfortable with being uncomfortable”.

What chart patterns are you seeing in the big picture that look good/bad?

Couple of things for the negative side:

  1. The trend downwards since the boom isn’t really changing, each week it follows similar patterns and doesn’t look to want to change any time soon.
  2. The pump and dumps are clearly still going on and this isn’t a good thing.
  3. The total volume traded is on a down trend (less traders actually trading)

Couple of things for the positive side:

  1. Trends are looking to be fairly predictable and data analysis is interesting.
  2. Awareness is increasing which will bring more traders over time, but mostly the bargain hunters to begin with that buy and hold and do not trade. After a time, these people will also start to trade when they feel more comfortable at being uncomfortable.
  3. More competition in the exchange space is a good thing.

How is your portfolio diversified? Why did you diversify your portfolio that way?
ETH and BTC only and use ALTs to build up more of those two.

What are you HODLing?
ETH and BTC :slight_smile:

Which coin has made you the most money in BTC or USD?
Litecoin and ICX.

What is your daily routine for each day before, during and after you start trading?

I let the programs do their work, but I analyse every failure and perform root cause analysis on every failed trade or program failure. Other than that, I do data analytics on all the collected data as I am a firm believer that history always repeats.

Long post, sorry.

Stay Fishy


#4

Fishy, this is a remarkable parallel to my own path to automating. One thing is for sure, it’s through the act of analyzing the failed trades and looking at the captured data on the order books that I am learning the most about the shenanigans that are going on and so, yes, it’s insane what’s happening under the covers so to speak.

I don’t even know exactly what most of them are doing, but I can tell its an aberration to general pattern. One of those patterns, I’ve recently was able to put a label and that’s the stop-loss hunting that’s going on where someone dumps a large stash of coins on the order books, then buying up the sell order side at discounts. This one is proving a tough one to “beat” in terms of automating for consistent gains.

What’s your general strategy to handling the sudden sigma 2 swings on price and volume, etc. with your bots?


#5

Here’s an example of an event that was causing me some grief earlier with automating trades with a bot:

I no longer look at the price action candles directly. Instead, I use SMA 20 on the 5 minute candles to manage buy in or sell out triggers. This is the bold white line in the chart.

For those watching Litecoin, it’s been dead quiet and quite level relative to Bitcoin. An event like this typically kicks off HFT bots in the next few hours, so I’ll definitely be keeping my eye on Litecoin this weekend.


#6

I don’t really have one yet, but I have a “shenanigans flag” which, if something unusual happens while progressing a trade, the bot will auto exit the trade. This can result in some losses, though generally small losses as it can react quickly.

Its a tough one to combat and I have not come up with any good solutions yet.

However, after such an event, the bot will exclude several related trading pairs and a few others I throw in for good measure (as it happens on some common pairs), for a period of 3 hours. Then it will come back in with much smaller volumes (10% of original volume it was up to) and build it up again over a period of 3 days. The goal of this strategy is to assume it is a human whom will generally get bored and move on after a few hours and if he doesn’t come back after a few days, assume it’s clear again to continue until the next event.

That’s the best I have come up with so far.

Good luck.

Stay Fishy


#7

Heh, someone asked what Development IDE I use.

I use Notepad, vi and Mine Monero \o/

Stay Fishy


#8

LOL. Real developers don’t use IDE’s! I use vi, atom, and textmate.


#9

My Hound prototype is running, it just traded XRP, which I thought was strange.

Not idea why XRP is climbing so much, but my Hound program sniffed it out and got in at 0.00115706 then alerted me.

Hit sell when it got to 0.00118297

Still some tweaks to do on the program, but seems to be working as intended so far.

Still, wonder why XRP took a quick climb?

Edit: crap I forgot to stop it and it just bought some VEN…

Edit: lost a little on the VEN one, but learned something new about the bots in the market and how they behave, which is pretty clever, going to try it myself next.

Stay Fishy


#10

Building me a hound is next on my list. I’m still working on perfecting the long exits. I only have the shorting working really well…meaning I can initiate a short on something I’m holding…the bot will wait for solid reentry point and buy back in with same BTC I liquidated.

Shorting is a LOT easier to write a bot for than timing a profit exit because a P&D only serves effect of buying back in sooner than intended (and it’s a gain in number of tokens every time so far) where as the long positions get subjected to sudden sharp drops from the stop-loss hunts that nearly recover completely in the next 5 minutes (like the one I posted above).

So what are you watching for with your hound?


#11

Buy into all my coins if BTC price moves significantly above 55 EMA.
Holding onto USDT TUSD as long as it is below.


#12

Can someone DM me or lead me to some good BOT source code? I’m in need of some assistance.


#13

Gekko is one in Javascript/Node.js

I write all my own from scratch, prototype in PHP first as the language is quite forgiving, then once I have the right idea together, I re-write in C++ and optimise it. Using PHP to prototype something makes it easy to chop/change as PHP is quite loose in terms of meeting strict code and its easy to learn. It’s good for writing quick ideas down and seeing how they work.

Cheers…

Mike Fishy


#14

Mike Fishy’s Trade Tip of the Day.

How to double down on ICX

Yup, dump your bag, wait a bit, then buy it all back at the cheaper price :smiley:

Stay Fishy


#15

Man, thank for for such a thorough answer! Love it!


#16

Is anyone thinking about trading ICX today?


#17

I try to trade it everyday. I aim for 3% minimum gains per trade but have been flirting with more rapid trading at 1%.


#18

Today is great as the past few days have been! How is trading going today? The waves look good and are semi predictable


#19

Just like to thank Charlie Lee for doubling my Ether since Feb.

LTC/ETH Pair

Love you long time Charlie!

Mike Fishy


#20

$ grep Sold trade.txt |wc -l
453

453 trades in one day, I think my bots are a little bit aggressive.

Last trade:

Runtime 1313.33 mins
Bought ADAETH at 0.00034800
Sold ADAETH at 0.00035148 for 0.99 %
Current RP is 739.12 %

Going to need to adjust it’s self adjusting rules, it’s getting unruly lolz

Mike Fishy