I recently started trading using @quickfingersluc 's trading style and figured I need some practice. Someone in the quickfingers slack room suggested playing a game by going through the chart per hour and making trades based on your knowledge and understanding (no looking ahead, no cheating.)
I decided to go with PAY/ETH because of it's little histrory on Bittrex. I skipped the first 12 days (I don't know why). Here's how I did and the places where I struggled.
Struggle point 1:
Do I go in again even though the base already returned?
Responses from the room slack room:
User 1: Nope, its not luc's method anymore
User 2: might have nibbled. what happened after?
User 2 made profit :) Let's continue.
Struggle point 2:
It cracked the base I drew and kept on going above and below it. Would you set a order for that dip that happened?
https://www.coinigy.com/s/i/59b57064ce52d/
I didn't buy here and missed a 21% trade :(
Final results 8% trade with no losses.
https://www.coinigy.com/s/i/59b57342a2bd4/
Looking at struggle point 2, there was a base that I could have drawn in. Does that mean based on this charts history it repects 15% bounces as a base?
Thanks for reading,
I would appreciate any feedback. Let me know how I could have done better or what you would have done differently. Not knowing the future obviously
Love the advice. Thanks Dane!