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:
- 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.
- The pump and dumps are clearly still going on and this isn’t a good thing.
- The total volume traded is on a down trend (less traders actually trading)
Couple of things for the positive side:
- Trends are looking to be fairly predictable and data analysis is interesting.
- 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.
- 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
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.