King's Game | Page 3 | Crypto Craft

Options

Go to
Permalinks
Print Thread

Similar Threads

Mug's Game 33 replies

The Inner Game of Trading 101 replies

Attachments: King's Game
Exit Attachments

King's Game

  • #41
  • Aug 20, 2019 1:19am Aug 20, 2019 1:19am
Quoting trickshady
The trend is still up so longs only. Btw that rejection on BTC wasn't very strong when you look at other coins. I follow all the major cryptos and trade on leverage BTC and ETH. At the time of this move, ETH dropped and gave me a buy signal. I expect both to continue up since the trend hasn't changed yet.
Fair point, however, I personally don't give too much attention to crypto correlations. We could debate about the trend, depends on the TF
And also, I always judge my RR and probability, not just when I enter a trade. I already had like ~8:1 RR in the bag with 1/4 of position left running. The upside on that position (from that point) was, in my opinion, limited and the probability of reaching decreasing (on the TF I am managing the trade). So I rather take that profit and just look for another entry.
  • #42
  • Aug 20, 2019 1:20am Aug 20, 2019 1:20am
Quoting g-force
Wow Tilt, this is a gem of a thread. You seem to have solid experience trading and a very crisp and clear communication style. That combination is not very common in my experience. Looking forward to watching your trades live from now on.
Thanks! Welcome
  • #43
  • Aug 20, 2019 4:16am Aug 20, 2019 4:16am
Did a quick short scalp and got destroyed on the way out by slippage. So what could be a nice profit ended up just a tiny bit of profit.
Also, the position was quite small. On to the next one...

STATS:

TRADES: 7
WIN: 5
LOSS:2
ROI: 86.95%
Attached Image(s) (click to enlarge)
Click to Enlarge Name: BTC - 5min - 20.8.2019 (short).JPG Size: 143 KB
Click to Enlarge Name: PNL 20.8.2019.JPG Size: 63 KB
  • #44
  • Aug 20, 2019 8:43am Aug 20, 2019 8:43am
Hey Tilt nice thread - question - does ByBit require KYC verification or anything involving an ID and social security number, lol? Or can I just sign up and send over some btc and trade on margin with nothing but an email address? I'm on Bitfinex and that's why I like them - they don't ask questions. Not too happy with the platform though.
  • #45
  • Aug 20, 2019 9:30am Aug 20, 2019 9:30am
Quoting cityRat
Hey Tilt nice thread - question - does ByBit require KYC verification or anything involving an ID and social security number, lol? Or can I just sign up and send over some btc and trade on margin with nothing but an email address? I'm on Bitfinex and that's why I like them - they don't ask questions. Not too happy with the platform though.
All you need is an email, no KYC. If you are in the US you also need a VPN.
  • #46
  • Aug 20, 2019 11:25am Aug 20, 2019 11:25am
Quoting cityRat
Hey Tilt nice thread - question - does ByBit require KYC verification or anything involving an ID and social security number, lol? Or can I just sign up and send over some btc and trade on margin with nothing but an email address? I'm on Bitfinex and that's why I like them - they don't ask questions. Not too happy with the platform though.
Hey man, thanks!

No KYC needed. The only thing I can point out that I dislike about ByBit is their FIFO system. I prefer the Bitfinex LIFO system. Have traded on Bitfinex for almost 2 years very actively and overall I think it's a great platform, the only problem I have with them is that they only offer ~5x leverage max. This works fine with a large account, but not so much for what I am trying to achieve here
  • #47
  • Aug 21, 2019 1:17am Aug 21, 2019 1:17am
Wow missed a perfect entry overnight. Can't do anything about that but can pop in a pic to show you what I consider a perfect entry. Lot's of longs were liquidated.
It's overextended now, so I will wait if I can get another shot today.
Attached Image (click to enlarge)
Click to Enlarge Name: missed, overnight 21.8.2019.JPG Size: 124 KB
  • #48
  • Aug 21, 2019 9:19pm Aug 21, 2019 9:19pm
Quoting Tilt
but can pop in a pic to show you what I consider a perfect entry.
Thanks for the visual!
  • #49
  • Aug 23, 2019 1:45am Aug 23, 2019 1:45am
Did a small short bait yesterday late in the evening with a very tight stop tracking. The idea was shorting the fail of breaching previous high on the upside while on upper channel line and 38 fib resistance and continuing the weekly bearish narrative.
The trade did not get any momentum in my favor so I knew the probability of working out has decreased dramatically. The trade was in trouble so I was happy to get out with a minimum profit after fees.

CURRENT STATS (last update 23.8.2019):
_________________________________________________

MONTH: AUGUST
TRADES: 8
WIN: 6
LOSS: 2
CURRENT MONTH ROI: 87.22%
_________________________________________________
Attached Image(s) (click to enlarge)
Click to Enlarge Name: BTC - 5min - 22.8.2019 (small CT bait).JPG Size: 127 KB
Click to Enlarge Name: BTC - 5min - 22.8.2019 (small CT bait)2.JPG Size: 131 KB
  • #50
  • Edited 4:58am Aug 23, 2019 4:47am | Edited 4:58am
So, this morning I am trying to position myself short with the same general idea as yesterday. I've already partially entered at around 10205 and 10190, and having another sell order at 10150.
Again I am not seeing any momentum (yet) but what's encouraging is that we've breached yesterday's high and reversed. So for that reason, I gave my short another try even though I am fully aware that for now the momentum is lacking and we might go higher abruptly. But the probability imo right now is on the short side. I am following closely and will cut if I see momentum building on the upside.
Ideally, we'll break 150, lower channel line and started gaining momentum to retest yesterdays low, then be in a bear mode to retest 9750. But who knows
Attached Image (click to enlarge)
Click to Enlarge Name: BTC - 5min - 23.8.2019 (short).JPG Size: 145 KB
  • #51
  • Aug 23, 2019 4:54am Aug 23, 2019 4:54am
This is the 2H look. We close the current candle in about 10min. Looking good from RR standpoint if we can start breaking lower while Risk is very limited around the current high @~10230
Attached Image (click to enlarge)
Click to Enlarge Name: BTC - 2H - 23.8.2019 (short)2.JPG Size: 129 KB
  • #52
  • Aug 23, 2019 5:16am Aug 23, 2019 5:16am
Looking good for now but I am still following closely. If all good I'll be able to take parital profit and move my SL for remaining position to BE, at which point I'll relax and stop following closely, see where this can go.
Still leaving some room for my SL in the negative so I can't proclaim a win yet.
Attached Image (click to enlarge)
Click to Enlarge Name: BTC - 5min - 23.8.2019 (short)3.JPG Size: 143 KB
  • #53
  • Aug 23, 2019 8:47am Aug 23, 2019 8:47am
SL hit with a small profit. Powerful move up but even though, we're still inside the range.


CURRENT STATS (last update 23.8.2019):
_________________________________________________

MONTH: AUGUST
TRADES: 9
WIN: 7
LOSS: 2
CURRENT MONTH ROI: 94.60%
_________________________________________________
Attached Image (click to enlarge)
Click to Enlarge Name: PNL 23.8.2019.JPG Size: 55 KB
  • #54
  • Aug 23, 2019 10:33am Aug 23, 2019 10:33am
Quoting Tilt
SL hit with a small profit. Powerful move up but even though, we're still inside the range. CURRENT STATS (last update 23.8.2019): _________________________________________________ MONTH: AUGUST TRADES: 9 WIN: 7 LOSS: 2 CURRENT MONTH ROI: 94.60% _________________________________________________ {image}
Impressive stats Are you inline with your goal/expectations?
  • #55
  • Edited 12:23pm Aug 23, 2019 10:47am | Edited 12:23pm
Quoting Hasher
{quote} Impressive stats Are you inline with your goal/expectations?
I would need min ~100 trades as a large enough sample to consider valid stats but 10 days since the start, 77% winrate and almost 100% roi is quite above average for me.

I don't expect to continue like so, but won't mind if I do
Bad streaks always come...
  • #56
  • Aug 23, 2019 2:07pm Aug 23, 2019 2:07pm
Quoting Tilt
{quote} I would need min ~100 trades as a large enough sample to consider valid stats but 10 days since the start, 77% winrate and almost 100% roi is quite above average for me. I don't expect to continue like so, but won't mind if I do Bad streaks always come...
It's impressive all the same, if nothing else you can consider the extra gains as insurance / wiggle room as continue your journey

Best of luck
  • #57
  • Aug 23, 2019 3:50pm Aug 23, 2019 3:50pm
Quoting Tilt
Wow missed a perfect entry overnight. Can't do anything about that but can pop in a pic to show you what I consider a perfect entry. Lot's of longs were liquidated. It's overextended now, so I will wait if I can get another shot today. {image}
Hey Tilt.

Can you explain how you would have gone about identifying the perfect entry you mentioned? I assume you would have decided to short based on a combination of the support line, SMA angle and candle pattern but just trying to get an idea of how this would all go through your head as it develops live.
If you like my post throw me a Doge: D85YHaQ6nQTp4oT13sHoAZbETn3sADVnF8
  • #58
  • Aug 24, 2019 2:51am Aug 24, 2019 2:51am
Quoting g-force
{quote} Hey Tilt. Can you explain how you would have gone about identifying the perfect entry you mentioned? I assume you would have decided to short based on a combination of the support line, SMA angle and candle pattern but just trying to get an idea of how this would all go through your head as it develops live.
So, to make it as simple as possible. You can always break down the price movement into 2 general states.
1. Price runs in one direction (trending)
2. Price retraces/consolidates

So you just follow those phases.

Looking at the pictures.

We have a price run (1)
Then we retrace and consolidate (2)

I enter on a premise that price will continue in the direction of a previous run in stage 3 (which can also be considered nr 1 and the whole thing continuously repeats - like a neverending loop), this is where we look for entry.

I go down on time frame to better time the entry and reduce my SL. I generally want to find for entries that also enable me to have my SL at the bigger swing lows/highs.

So, in this case, we have a price run then quite a large retrace/consolidation in the rising wedge which is a bearish continuation pattern + the fact that it went back to 50 fib and MAs give some additional weight but not the deciding or kill factor.

So, at this point we know we're looking to short this but need confirmation with momentum so that we minimize risk. Momentum is KEY to having as low drawdown as possible. I don't want to put my SL just blindly behind swing low/high as it is a sitting duck for stop-loss hunting bots.

Next pic 5min.

The blue line is previous day low. The low was set (1), then we bounce the first time, failing to break it (2), we go a bit higher but failing to make any substantial new high as well, no momentum to the upside. We know now that bulls are struggling.

We come down again and break the rising wedge stopping exactly on the previous day low, for the second time (2). We make a small consolidation while testing the wedge from the other side. Once you break the low (previous day low) you know you're in it for a ride as liquidations starts to kick in + all the people going short on a break.

This is just the entry.

Then it's a matter of managing the trade and all that other trading stuff. Money management, etc...
You gotta have a package, only good entries are not the deciding factor for success in trading but obviously, they help a lot as there is a difference if you manage to enter a trade and go straight (or fast)to profit versus hovering around and having drawdown which causes anxiety and leads you to mistakes.

So for me entries are very important but only part of the package.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: explanantion.png Size: 118 KB
Click to Enlarge Name: explanantion 2.png Size: 89 KB
  • #59
  • Aug 25, 2019 7:42am Aug 25, 2019 7:42am
Quoting Tilt
{quote} So, to make it as simple as possible. You can always break down the price movement into 2 general states. 1. Price runs in one direction (trending) 2. Price retraces/consolidates So you just follow those phases. Looking at the pictures. We have a price run (1) Then we retrace and consolidate (2) I enter on a premise that price will continue in the direction of a previous run in stage 3 (which can also be considered nr 1 and the whole thing continuously repeats - like a neverending loop), this is where we look for entry. I go down on time...
Thanks for the great response! It is very clear to me now
If you like my post throw me a Doge: D85YHaQ6nQTp4oT13sHoAZbETn3sADVnF8
  • #60
  • Aug 25, 2019 7:14pm Aug 25, 2019 7:14pm
One thing I have learned about seeing entries in hindsight is that even though they may look great and that you could have entered there, you never know how you would have reacted in real time as it is happening. As much as you think that you would have taken the trade, you will never know because you weren't there when it happened. But i get your point, and you can learn a bit from past events although you can only really learn from present price action.
0 traders viewing now