You can close a futures contract at any time at the futures market price. It follows the spot market quite closely and has good liquidity most of the time.

I can only try my best. I assume people have a choice to follow what I do and I do not make false promises. As long as people can see my statistical advantage, losing here is a good environment to learn how to become a good trader.

ps always grateful for tips. only if you make a nice profit though! cheers.

Thanks for your appreciation. Its very stressful running a thread like this because even though I am a net winner with my trades, it hurts me bad to know some people might lose when I lose. So I appreciate your comments. I can only hope I provide the best means of practically learning good trading practise.

You can open a biweekly, monthly and quarterly position without having to worry about closing out on a friday. any time you open a monthly position it will only be automatically closed on friday one month from that time. trading futures contracts versus real bitcoin has no real advantages or imo no disadvantages.

Ive never had any problems because of possible fake volume, I dont know if thats true. the volumes at critical turning points tend to behave genuinely.

Hi karol,

I enjoy trading at Okcoin because liquidity is much better than BFX. also, because of liquidity, the charts are much more accurate and behave nicely to read and trade. I used to trade according to chinese chart on BFX, it simply didnt work in scalping. OKcoin offers 10x and 20x leverage with cross margin and fixed margin mode, meaning you dont have to risk all your capital to large margin call.

after two losing trades I am timid but this count has surprising revealed its self to me and happily fits a valid and plausible corrective count, I have the confidence to trade it myself. This is NOT impulsive to the downside, this is not how wave V should start. with the hourly macd turning up, this could be the bottom we are looking for. the Risk/reward is great  placing stoploss under local lows. please trade with good risk management here this market is obviously volatile.









I use Okcoin, I have never tried Huobi but I am certainly enjoying Okcoin a lot more than I enjoyed BFX.

I agree, but I have made two losing trades in a row despite my expectations. I need to see evidence and behaviour that I expect before I touch this market again. Also its really no good to trade without decisive profit targets.

I cant be sure that the move down is done on the lower time frames so I would wait for more confirmation to buy. its not a good idea to trade corrective waves. I think its not worth the risk to trade now, we need good risk/reward and clear levels.

Here is a chart that I've colour coded to illustrate the cross roads we are at. A few things are possible here which make it really difficult to decisively trade. Im not going to consider trading anything until we have either broken through 2540 or 2286, and then I would like more price action to confirm counts. break under 2000 is obviously confirmation of greater wave V.

I have illustrated that the impulsive wave (C or I) we have been tracking might be complete. This is really exciting because it means that if we see a really large ABC here, the an impulsive wave III may follow as the beginning of the next bubble. It also means that if we see impulsive action downwards it could be the beginning of wave V. It is not certain the impulsive is over, wave v might come, but it is looking less and less likely.

This price behaviour probably means that the count of the impulsive (C) or (I) to forecasted 3000 yuan is complete, meaning wave v must have already occurred. this could be explained if we count iii as a blow out fifth, and i-i (i)-(ii) as i-ii-iii. Ill post a chart in an our or so (busy atm)

Now begins the count and validation of the two counts, greater wave C to test $270, or corrective to bottom out soon and proceed to new ATH.

We have to stand back and wait for the market to reveal more. I just dont see enough right now.

its not an illusion it has already happened. Im going out on a limb to say we have bottomed because some good EW analysts disagree with me, so I have to track all the valid counts for protection.

wave II fashion means we have just seen the primary wave of the next bubble and we will correct in a weak ABC pattern. Its not something we should worry about too much unless we are trading high leverage on the longer term scale (anyone?) we should have good signals all along the way from here to see what is happening. a LOT of strong evidence has revealed its self recently.

Really anything is possible after that unfortunately. My dominant count is that we have bottomed at 270, but I am very aware that we might still revisit 270 gain. Everyone should be prepared for this.

What is wise to do is watch and wait. If we correct in wave II fashion, that will be produce a VERY good signal to go long. otherwise, we may see early impulsive movement down, in which case we can look to short.

wave v, meaning going long at 3000 is absolutely fatal. lots of room to move still. good risk reward to go long even now with stoploss at  2460.

This is very true. I can do my best to guide good money making decisions but if you are not trying to make your own it is a fatal weakness. (not directed at podyx)

Ultimately I am just hoping to share a system with you that really works so that you can learn or be inspired to do it yourself.

I would have to publish this chart on TV to do that but I only publish my longer term views because I do so much scalping that the more important counts would get all get lost.

thanks guys its great to know after one bummer trade people dont give up on me. Its a lot of pressure to run this thread, but I feel like Im doing a good job. last night for the first time in a while I got a good nights sleep after closing out at a loss. maybe thats just what I needed. (made a comment on TV, ssmc2)

So we had a nasty breakdown last night, some people got burned including myself. The rule that wave iv bottoms in the vicinity of wave (iv) rarely fails me, but as long as we do not pass into the territory of wave ii then we can still expect a wave v.

Since the breakdown, the count has become clearer. we have a much better risk reward. We are not fighting momentum indicators. Playing this simple breakout is a strong signal long here.

I noted before that wave iv would be deep because wave ii was so shallow. It came very very true.

... always remember, buy when theres blood in the streets, even when it is your own. we are still targeting 3000 yuan, and we have a chance to buy at 2500 with stop at 2400.


 


well spotted.

EDIT - reposting this count on new page as it is very significant at the moment.

So we had a nasty breakdown last night, some people got burned including myself. The rule that wave iv bottoms in the vicinity of wave (iv) rarely fails me, but as long as we do not pass into the territory of wave ii then we can still expect a wave v.

Since the breakdown, the count has become clearer. we have a much better risk reward. We are not fighting momentum indicators. Playing this simple breakout is a string signal long here.

I noted before that wave iv would be deep because wave ii was so shallow. It came very very true.

... always remember, buy when theres blood in the streets, even when it is your own. we are still targeting 3000 yuan, and we have a chance to buy at 2500 with stop at 2400.


 


well spotted.