RE: Yesterday's Poll: "Are you profitable for the last 30 days (if using Luc's method) ?" "Yes" "No" by quickfingersluc
Viewing a response to: @quickfingersluc/re-freshprince4-re-quickfingersluc-re-coulter-re-quickfingersluc-yesterday-s-poll-are-you-profitable-for-the-last-30-days-if-using-luc-s-method-yes-no-20171007t212741511z
trading·@nbiroz·
0.000 HBDI hate bothering u personally Luc, but I think that recently I developed a different opinion on base trading than most people in the slack...so I'd appreciate it if u looked over few charts(now all coins seem to be falling due to BTC, this assumes normal circumstances): https://www.coinigy.com/assets/img/charts/59da7bca9a44b.png For example, this seems like a totally fine position trade to take...The base was retested, but it did not weaken completely, there was a sharp turn down, then the price kept retouching the base after a minimal drop, then finally went down and sideways. I do not think that either of these things disquality this as a proper position trade, but maybe I am wrong. And similarly TRIG https://www.coinigy.com/assets/img/charts/59da7cb09fee3.png Basically, what I am asking is if a panic is a neccessary component in position trading I guess. Until now I thought it simply meant that the reaction will be better in terms of % and time, but whenever I see a base break it is tradeable in a longer timeframe(until an avg bounce from an avg drop happens, at least). If not, then most of the trades I take(i look for 10% profit at least) are more akin to daytrading small drops, and all base breaks without a violent reaction would have to be ignored from a position trading perspective. It would also cut the number of trades by 90% i guess.
👍 lulbob,