Jump to content
Sign in to follow this  
Spekul8

Day Trading Crypto Currencies

Recommended Posts

7 hours ago, xrp_sea said:

There’s been a lot of research done on day trading and it all indicates that it doesn’t work over the long-term, unless you’re trading with information that you’re not supposed to have. You may think you’re making money, but have you really taken into account all of the associated costs? How about the lost opportunity costs associated with missing out on big gains because you’re constantly moving in and out? Transaction costs? Your time cost?

I don't disagree with many of the things you are saying: costs, long term view versus short term, and slippage, stress, etc.  But, you do not have to forgo your long term view and adopt a day trading view instead. One does not oppose the other.  Also, you can not prove (all asset classes) that those who have a long term view can always capitalize and max out their investments.  Belief is a religion, not a method. 

Even investments that do require long term holding have set back in access of 50%! Consider FB at launch. It went down 50%, BABA went down 30%, and Crypto 90%!!  Essentially, the question to ask is not what we should do but what does human nature do in lieu of such events. The market will always shake you out, will test you, and sadly in Crypto very few took advantage of the run. The ones who are stuck will "sit", pray, chat, etc instead of looking for other opportunities where the market is moving and they could be early adopters.  Can you please quantify the opportunity cost of that? 

So to address your skepticism again, all I can say is don't do it.  It is not for everyone, and clearly not for ones who don't have the ability to develop a way to evaluate an oversold and overbought condition.  Always do what is right for you. At this point, I am exploring method and cost of day trading (when volatility justifies) the Cryptocurrencies. I am NOT recommending to anyone to day trade as most will lose their funds, so if you do ONLY RISK money.  

Share this post


Link to post
Share on other sites

I am seeing a trade opportunity developing for Ripple on BitMEX ( XRPH19 ). 
LFnIW2Eo
A falling wedge is now active and early signals are starting to show up. 

Actively we are trading Litecoin ( LTCH19 SHORT) successfully and recently we traded TRON ( TRXH19 ) for massive fast profits (over 90% within 32 hours). 

An opportunity is developing right now, a LONG trade... Let me share some of the signals: 

Ripple ( XRPH19 ) Early - Not yet confirmed - Reversal Signals: 

Falling wedge pattern. 

0.786 Fib. retracement support holding from last bullish wave. 

Low bear volume (if this were to continue going down, we should be seeing higher bear volume ). 

MACD and RSI starting to curve. 

These are really early signals that can be easily invalidated, this is not a trade. 


If you want to see a full trade for Ripple ( XRPH19 ) make sure to show your support hit LIKE. 

If enough people are interested, I will share this trade for you with 100% ROE. You will have buy in, target, time frame, stop loss, capital allocation, profits potential and more. 

Note: This is not a piece of trade advice. 

Thanks a lot for reading. 

Namaste.

Share this post


Link to post
Share on other sites

Hi Kavabata 

I am very interested in watching your trading strategies being new to it and just getting a feel for it now I was scalping between xrp/btc on an upstream trend and xrp/usdt on a downwards trend with success . 

 

Edited by Doubletap

Share this post


Link to post
Share on other sites

@KavabataThank you for thanking me, but you did not answer the question. If I need to get less technical for you, let me ask this again. Does BitMex have enough liquidity to act as an exchange, or are they the other side of the transaction?  

Share this post


Link to post
Share on other sites

I am still researching a good platform for execution. The Crypto spreads in CFDs are horrible, the exchange commissions are 1985 prices. You have to minimize your trading to almost 51% chance of success. 

Share this post


Link to post
Share on other sites
On 2/11/2019 at 8:08 AM, Spekul8 said:

Break of XRP .31 may lead to .325 to .33 or higher.  

ETH break of 125 may lead to 132-140. 

 

Today we had a break of $125 on ETH that led to $130 in hours, and I suspect newer highs if we can maintain above 130 for t least 72 hours. 

Edited by Spekul8

Share this post


Link to post
Share on other sites
7 hours ago, Raekwon said:

XRP has been one of the weakest alts lately, expecting it to drop more in the coming weeks unless we see some serious boost in volumes.

stop guessing. This is not the way to trade! You can have big moves without huge volumes either. 

See what I did ETH above? I wait for a break above at 125 and set targets at 135 and 140. 135 was hit. Maybe tonight 140 will get hit as well. If not, it's ok, now B/E is at 130.   I didn't buy ETH below 125 because I did not think it had steam below it.  The same log will apply to XRP.  Get in when it breaks 31. It may get to 33 rather fast. trade at your own risk. 

Stop guessing bottoms. You can trade these things long and short. 

 

Edited by Spekul8

Share this post


Link to post
Share on other sites
Sign in to follow this  

×