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GFIs1 1 btc$ trade per week journal


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GFIs1 1 btc$ trade per week journal

  #1 (permalink)
 GFIs1 
who cares
Legendary Market Wizard
 
Experience: None
Platform: nobody interested
Broker: none
Trading: forget about it
Posts: 6,921 since Feb 2012
Thanks Given: 6,181
Thanks Received: 15,563

Coin trading? Are you Crazy??

As a pattern trader I always was fascinated by the development of coins. Never thought of mining stuff I was more interested in trading this very volatile instrument(s).
And found NO real journal here about coins in the journal section of fio.
Hence I thought to open one myself.

Of course a real journal should be live and easy to understand.
Having 2 longtime pattern journals here already I am sure to test my first steps in a very difficult field of trading.

What are the guidelines?
• first - there is the risk, the influence of open markets and
• second - the length of being exposed to the markets with all influences as well as
• third - to hit some strong moves with a high probability.

The testing ground
To stay above and being on a more stable ground I want to test my first pattern(s) when markets are not influenced too much by active worldwide open playing fields.
The always traded coin markets are especially good when trading over weekends or holidays.
That might help to get make some good points.

Why just one trade in a week?
By omitting losses (not knowing great stop loss markers yet) there are just a handful good times to concentrate on patterns. Those are most effective to see when the markets develop in silence.
So I will just take a trade from 6 hours to 8 and watch the results carefully.
Investing on - saying a Saturday or Sunday - when my other instruments are in full sleep - the investment amount is fully available for this journey.

Looking forward to the first trades and results.

Don't hesitate to follow...

GFIs1

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  #2 (permalink)
 tr8er 
Europe
Market Wizard
 
Experience: Advanced
Platform: TradeNavigator, BookMap
Trading: ES, CL, 6E, 6B
Posts: 704 since Jan 2017
Thanks Given: 220
Thanks Received: 709

next week we will get the micro BTC futures, which instrument will you trade?

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  #3 (permalink)
 GFIs1 
who cares
Legendary Market Wizard
 
Experience: None
Platform: nobody interested
Broker: none
Trading: forget about it
Posts: 6,921 since Feb 2012
Thanks Given: 6,181
Thanks Received: 15,563



tr8er View Post
next week we will get the micro BTC futures, which instrument will you trade?

Hi @tr8er

That is good news.
In fact I was concentrating on the full btc$ which had shown the main moves. Smaller derivates will help to the volume in total and may steer btc and others in a same directions.

There are other depending coins of btc - at least moving often in the same direction - to put money on those smaller coins with not the same total value. In the end concentrating on btc$ with its history is convenient for the moment and all depending charts. Of course watching all alternatives coming in is most important! Looking forward to it.

Good trades
GFIs1

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  #4 (permalink)
 Deetee 
Amsterdam, The Netherlands
Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader / IB /Rithmic
Broker: EdgeClear / InteractiveBrokers / Rithmic
Trading: DAX / (M)NQ / (M)ES
Frequency: Daily
Duration: Hours
Posts: 630 since Jul 2019
Thanks Given: 2,821
Thanks Received: 785

Interesting! Will be following.
Good luck and good trades

Sent using the NexusFi mobile app

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  #5 (permalink)
 GFIs1 
who cares
Legendary Market Wizard
 
Experience: None
Platform: nobody interested
Broker: none
Trading: forget about it
Posts: 6,921 since Feb 2012
Thanks Given: 6,181
Thanks Received: 15,563

Monday trade

btc$ short 0:00 to 06:00
entry @ 56674
exit @ 57931
result -1257 points

GFIs1

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Thanked by:
  #6 (permalink)
 GFIs1 
who cares
Legendary Market Wizard
 
Experience: None
Platform: nobody interested
Broker: none
Trading: forget about it
Posts: 6,921 since Feb 2012
Thanks Given: 6,181
Thanks Received: 15,563

Short

My short was a bit more than 24h too early -

No problem so far - we will catch up!

GFIs1

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Thanked by:
  #7 (permalink)
 GFIs1 
who cares
Legendary Market Wizard
 
Experience: None
Platform: nobody interested
Broker: none
Trading: forget about it
Posts: 6,921 since Feb 2012
Thanks Given: 6,181
Thanks Received: 15,563

btc$ is on its run up to 60k+
after a dip down to 53k

Ethereum up as well - and with it all connected Krypto's.

GFIs1

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  #8 (permalink)
 
Sandpaddict's Avatar
 Sandpaddict 
Vancouver, Canada
 
Experience: Advanced
Platform: Ninjatrader, MT4
Broker: IB, Global Prime
Trading: Futures CFDs
Posts: 684 since Mar 2020
Thanks Given: 975
Thanks Received: 637


GFIs1 View Post
Coin trading? Are you Crazy??

As a pattern trader I always was fascinated by the development of coins. Never thought of mining stuff I was more interested in trading this very volatile instrument(s).
And found NO real journal here about coins in the journal section of fio.
Hence I thought to open one myself.

Of course a real journal should be live and easy to understand.
Having 2 longtime pattern journals here already I am sure to test my first steps in a very difficult field of trading.

What are the guidelines?
• first - there is the risk, the influence of open markets and
• second - the length of being exposed to the markets with all influences as well as
• third - to hit some strong moves with a high probability.

The testing ground
To stay above and being on a more stable ground I want to test my first pattern(s) when markets are not influenced too much by active worldwide open playing fields.
The always traded coin markets are especially good when trading over weekends or holidays.
That might help to get make some good points.

Why just one trade in a week?
By omitting losses (not knowing great stop loss markers yet) there are just a handful good times to concentrate on patterns. Those are most effective to see when the markets develop in silence.
So I will just take a trade from 6 hours to 8 and watch the results carefully.
Investing on - saying a Saturday or Sunday - when my other instruments are in full sleep - the investment amount is fully available for this journey.

Looking forward to the first trades and results.

Don't hesitate to follow...

GFIs1

I love your other journal so I'm excited for this one. Thank you.

I haven't traded BTC and probably won't for the foreseeable future but how do you find the liquidity and cost structure to trade?

Do you find liquidity just drys up at certian times? Or is the spread horrible at times?

Do you plan on eventually switching to once a day or sticking with weekly?

Maybe these questions are premature. Just curious in any case.

Best of luck GFIs1

Sent using the NexusFi mobile app

Visit my NexusFi Trade Journal Reply With Quote
Thanked by:
  #9 (permalink)
 GFIs1 
who cares
Legendary Market Wizard
 
Experience: None
Platform: nobody interested
Broker: none
Trading: forget about it
Posts: 6,921 since Feb 2012
Thanks Given: 6,181
Thanks Received: 15,563

Monday trade

btc$ long 0:00 to 08:00
entry @ 58026
exit @ 59134*
result + 1108 points

GFIs1

*stopped on moving SL 07:20 @ yellow line (Tenkan-Sen) of Ichimoku

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Thanked by:
  #10 (permalink)
 GFIs1 
who cares
Legendary Market Wizard
 
Experience: None
Platform: nobody interested
Broker: none
Trading: forget about it
Posts: 6,921 since Feb 2012
Thanks Given: 6,181
Thanks Received: 15,563


Sunday Watch

Just watching the chart pattern of btc$ we will detect sort of a "W" in the price chart. Starting on May 15th with a last high of 58k we can see that the price came down TWICE to a low with nearly identic prices - such on April 25 and on May 13 with a last low of 46500 from May 16.
This form is normally a pattern of a typical "W".
What does it mean?
From two lows on nearly same level a price getting up is highly probable to a last high.
The last high was in mid April @ 64855.
That is the goal for the rebound in a "W" and a possible pattern in this charting patterns.
So my thinking is to go long in some hours to see the price is following this non finished W-pattern.

Following that best possible pattern on btc$ we might see tonight a runner up from midnight.

Good trades!
GFIs

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Last Updated on February 21, 2022


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