Topic: Sharing my BTC strategy for bear and consolidating markets (Read 664 times)
Another great 15.7% win in BTC with the Weak-hands Buster open-source strategy. Bitcoin has been going down for several weeks, but there is no need to suffer if you manage to sell bitcoin as it starts diving and take the profit at the bottom, buying more bitcoin with the same money. This strategy may be fully automated in the Superalgos Desktop App and can help you with the timing. This is the trade closed an hour ago:
For people following this thread, you may want to know that the open-source strategy I pointed in the OP is again in the middle of a trade, shorting bitcoin... looking promising... The stop hasn't started trailing yet but will soon if the slide downwards continues... Current TP at 7.2k... See http://superalgos.org if you are interested...
So, what do you guys think? Is consolidation over? Are we still facing a bull market?
What makes you think that bitcoin consolidation has even arrived for it to be over, I don't think that we have even smelled the tip of bitcoin consolidation because during the time that bitcoin consolidate is when altcoins enters their season, and if I ask, have you see any slight recovery for altcoins? When bitcoin gets to that stage of consolidation, you will know, and no one will tell you when you see that all altcoins starts to moon in value. It is this period that many people have been waiting for and that is the time I am waiting for also, I am hoping and praying that bitcoin goes sideways ,m so that we can get our investment out of some of these altcoins that have tied it down for a very long time now, especially some of those top altcoins.
Sorry to break the news but you seem to be living in 2017. The assumption that alts will pump when bitcoin consolidates is no longer valid. 99.9% of alts are doomed to fail and everyone knows that by now.
Bitcoin started a consolidation period on June 27th 2019, after the years's high at +14 K. Some traders argue that the recovery of 24th October signaled the end of that consolidation period, but it's far from being a popular opinion yet, let alone confirmed by facts.
So, what do you guys think? Is consolidation over? Are we still facing a bull market?
What makes you think that bitcoin consolidation has even arrived for it to be over, I don't think that we have even smelled the tip of bitcoin consolidation because during the time that bitcoin consolidate is when altcoins enters their season, and if I ask, have you see any slight recovery for altcoins? When bitcoin gets to that stage of consolidation, you will know, and no one will tell you when you see that all altcoins starts to moon in value. It is this period that many people have been waiting for and that is the time I am waiting for also, I am hoping and praying that bitcoin goes sideways ,m so that we can get our investment out of some of these altcoins that have tied it down for a very long time now, especially some of those top altcoins.
that pumping effect to alts.We wouldnt know if people are just accumulating their btc conversion to fiat and just waiting for an entry or just simply cash outing their btc for
reconsidering some alts.We wouldnt know actually thats why its really hard to predict.You might see some signs of movement but theres always been a hesitation everytime you would tend to make a move because the thing comes thru your mind is that it might be a fake movement.So it isnt really that easy to do so.
There are opportunities if you want to make profit in market that is consolidating. It is easy to say that buying low and sell it high but the truth is it is really hard to execute. You should knownl the area of value which is support amd resistance for you to have an idea where you will buy and where you will sell.
So, what do you guys think? Is consolidation over? Are we still facing a bull market?
What makes you think that bitcoin consolidation has even arrived for it to be over, I don't think that we have even smelled the tip of bitcoin consolidation because during the time that bitcoin consolidate is when altcoins enters their season, and if I ask, have you see any slight recovery for altcoins? When bitcoin gets to that stage of consolidation, you will know, and no one will tell you when you see that all altcoins starts to moon in value. It is this period that many people have been waiting for and that is the time I am waiting for also, I am hoping and praying that bitcoin goes sideways ,m so that we can get our investment out of some of these altcoins that have tied it down for a very long time now, especially some of those top altcoins.
So, what do you guys think? Is consolidation over? Are we still facing a bull market?
Can you use the strategy on lower timeframes? It looks like it is a long term trend following strategy using bollinger bands as primary indicator. If it is working so well I'm curious about your reasons for sharing it on the forum.
It is a mid-term strategy. Trades may be open for several days occasionally. The strategy makes decision mainly on the 1-hour time period but checks conditions on higher time periods as well. It certainly wouldn't work AS IS in higher frequencies...
The reason why I'm openly sharing this is because we are an open source project. We are building an open-source trading automation platform and open-source strategies. The long term vision of the project is a global Collective Trading Intelligence at the service of all people.
Take a look at https://superalgos.org/
Well, it's a nice strategy and I have thought of the same too but we never know when the market goes in opposite direction.
This mere fact keeps me from trading. Obviously I know we have to take risks if we want to earn but I guess I am better at holding with patience than to trade with a panic.
This mere fact keeps me from trading. Obviously I know we have to take risks if we want to earn but I guess I am better at holding with patience than to trade with a panic.
Can you use the strategy on lower timeframes? It looks like it is a long term trend following strategy using bollinger bands as primary indicator. If it is working so well I'm curious about your reasons for sharing it on the forum.
Exactly. Even during market consolidations, there's still plenty of opportunity to make a profit trading. It doesn't just drop straight down. There's still a lot of volatility to play with during a downturn. Just don't play a longer term strategy during a downturn. Focus on something more immediate. Unless you plan on holding long enough for the consolidation to be over with, which could take a few years.
If you stick with bitcoin, no research is needed. Just active trading using a very clear and structured system that has been thoroughly tested. That is what we are doing with the strategy mentioned in the OP.
I believe this too. This I think TA will do if you keep to a long time frame like weekly or monthly candle close. TA will give us such clear direction to market except few times when a strong fund come.
This can be achieved by having a proper plan by fixing a margin for buying and selling rather than randomly doing it and it requires the trader to first fix a realistic figure to trade for example if I bought bitcoin at $8k then I would prefer to sell it at $8500 and then buy back should be fixed at $7900 this will the patter I would follow and when it comes to other altcoins as well as we need to set a flow chart sort of thing for this about the buying price and selling price only then we could earn else we will end up losing capital, this plan might not work for short term.
IMO,this is short term plans,we should not buy and sell the again buy when we wanted to be long term investors but if we stick with our margin don't care about the waiting period then its good for short to mid term traders.For the people who wanted to trade very often they should be strong in FA and TA then only they can get better idea about what they should do. 
My opinion is very straight, If you want to make a profit then you have to wait for the suitable moment, I think Bitcoin holding is the best way to make fulfill your desire, Whatever the current context, don't be panicked and worried about the price, I also think that you have to control your emotion as well, if you want to start trading then decision is yours, I think when the market is vulnerable then trading is too risky to make a profit, So holding is a very safe and secure investment, just wait for the moment and gain what amount you want, if you want to take a high risk then trading would be perfect for you during this market consolidations.
When it comes to bitcoin investment and trading, I think that people should always relax their mind about this coin because it is as reliable as anything good. Every bear market of bitcoin is a blessing, while its bullish trend is also a blessing, so we should not be seeing the price fall of bitcoin at any time as a sad moment.It should be a moment where we should buy and then sell when it is high and anytime that we feel we have made mistake in buying, we should just leave that particular investment to correct itself as bitcoin continues to function well while we move on with the other investment. Anytime that I see bitcoin dip, I usually do not panic which I still expect more dip in price soon, and if bitcoin falls again, while people are scared and counting it as bear market, I will keep buying it.
This can be achieved by having a proper plan by fixing a margin for buying and selling rather than randomly doing it and it requires the trader to first fix a realistic figure to trade for example if I bought bitcoin at $8k then I would prefer to sell it at $8500 and then buy back should be fixed at $7900 this will the patter I would follow and when it comes to other altcoins as well as we need to set a flow chart sort of thing for this about the buying price and selling price only then we could earn else we will end up losing capital, this plan might not work for short term.
My opinion is very straight, If you want to make a profit then you have to wait for the suitable moment, I think Bitcoin holding is the best way to make fulfill your desire, Whatever the current context, don't be panicked and worried about the price, I also think that you have to control your emotion as well, if you want to start trading then decision is yours, I think when the market is vulnerable then trading is too risky to make a profit, So holding is a very safe and secure investment, just wait for the moment and gain what amount you want, if you want to take a high risk then trading would be perfect for you during this market consolidations.
When it comes to bitcoin investment and trading, I think that people should always relax their mind about this coin because it is as reliable as anything good. Every bear market of bitcoin is a blessing, while its bullish trend is also a blessing, so we should not be seeing the price fall of bitcoin at any time as a sad moment.It should be a moment where we should buy and then sell when it is high and anytime that we feel we have made mistake in buying, we should just leave that particular investment to correct itself as bitcoin continues to function well while we move on with the other investment. Anytime that I see bitcoin dip, I usually do not panic which I still expect more dip in price soon, and if bitcoin falls again, while people are scared and counting it as bear market, I will keep buying it.
My opinion is very straight, If you want to make a profit then you have to wait for the suitable moment, I think Bitcoin holding is the best way to make fulfill your desire, Whatever the current context, don't be panicked and worried about the price, I also think that you have to control your emotion as well, if you want to start trading then decision is yours, I think when the market is vulnerable then trading is too risky to make a profit, So holding is a very safe and secure investment, just wait for the moment and gain what amount you want, if you want to take a high risk then trading would be perfect for you during this market consolidations.
When it comes to bitcoin investment and trading, I think that people should always relax their mind about this coin because it is as reliable as anything good. Every bear market of bitcoin is a blessing, while its bullish trend is also a blessing, so we should not be seeing the price fall of bitcoin at any time as a sad moment.It should be a moment where we should buy and then sell when it is high and anytime that we feel we have made mistake in buying, we should just leave that particular investment to correct itself as bitcoin continues to function well while we move on with the other investment. Anytime that I see bitcoin dip, I usually do not panic which I still expect more dip in price soon, and if bitcoin falls again, while people are scared and counting it as bear market, I will keep buying it.
If you stick with bitcoin, no research is needed. Just active trading using a very clear and structured system that has been thoroughly tested. That is what we are doing with the strategy mentioned in the OP.
I believe this too. This I think TA will do if you keep to a long time frame like weekly or monthly candle close. TA will give us such clear direction to market except few times when a strong fund come.
The best case you can do is to have stop loss and also a buy order at the lower prices, say right now it looks like $8k is a strong point but if it were to go down that we can assume you can still profit, how?
Simply just put a stop loss at around $8100 or whatever you feel like comfortable, these numbers can change according to market prices whenever you want to try, when bitcoin goes down like 5% or so it usually goes down even further. Anyway if your stop loss is triggered than you will be all in cash and no bitcoin, so what do you do next?
You put up a buy order at $7700 first and use only about 50% of the money you just got from the stop loss, if another day or two passes and the price is around the same you buy with the other 50% as well, if it keeps going down than you buy from the new bottom.
Simply just put a stop loss at around $8100 or whatever you feel like comfortable, these numbers can change according to market prices whenever you want to try, when bitcoin goes down like 5% or so it usually goes down even further. Anyway if your stop loss is triggered than you will be all in cash and no bitcoin, so what do you do next?
You put up a buy order at $7700 first and use only about 50% of the money you just got from the stop loss, if another day or two passes and the price is around the same you buy with the other 50% as well, if it keeps going down than you buy from the new bottom.
Everyone wants to profit when any market conditions are no exception when the market is consolidating, which we have to do with current market conditions must think calmly do not panic. The first tip is to do short-term trading when the market is like this, although a big risk because the price of bitcoin can go down at any time remain confident of doing a careful analysis so that it is right to determine buy price. The second tip, just take a thin profit of around 1%, so that prices do not go down again, so when it sells, the profits go straight even though the profit is small. And the third tip is always on the lookout for unusual price movements, then you will be able to read the market which way price will be going. Do not let sell too fast, must be able to determine the right moment to sell.
It is hard to make a profit during this month if we cannot be careful to determine the entry price to buy and sell.
The price seems moves to anywhere, and sometimes the price is down in the next minutes without notice.
But behind that, I think we still have a chance to buy bitcoin at a lower price, especially if we can analyze the price to find a good time to buy bitcoin.
Like this day, we have a chance to buy bitcoin at $81xx and wait for a while until the price can reach $82xx.
But unfortunately, no one will know if the price can reach that price, and that makes many of us decide to sell bitcoin too early when the price starts to increase.
I think that will be okay, especially if we can get another good time to buy bitcoin so we can sell when it increases again.
The price seems moves to anywhere, and sometimes the price is down in the next minutes without notice.
But behind that, I think we still have a chance to buy bitcoin at a lower price, especially if we can analyze the price to find a good time to buy bitcoin.
Like this day, we have a chance to buy bitcoin at $81xx and wait for a while until the price can reach $82xx.
But unfortunately, no one will know if the price can reach that price, and that makes many of us decide to sell bitcoin too early when the price starts to increase.
I think that will be okay, especially if we can get another good time to buy bitcoin so we can sell when it increases again.
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