I am more inclined to assert that you should actually play around with actual money..
I slept on it, I think its not even good enough to just have the correct stops (though they are important)
I think to maximise things you need to be sat in front of it, reacting and adjusting. That feels far more like gambling, shall I cash out or wait on a bet type thing. Similar, maybe indicating this is just betting of a sort.
This high maintenance approach seems in direct contrast to your more passive set it and forget it approach with ladders. Its all interesting to me.
Even though my system strives towards mostly passivity in terms of attempting to cause a certain amount of emotional neutrality in regards to BTC price direction, over the years, I have frequently reverted to thinking about how my btc buy/sell orders are placed and whether emotional neutrality is sufficiently achieved and maintained.
There seems to be no real way to completely remove some emotions especially since I am largely attempting to stack towards an upwards BTC price direction preference.
Believe me, I have given some (maybe superficial) thoughts to how increasing the stakes (such as using leverage or figuring out ways to short) might change the dynamics of my system and my comfort levels in regards to my BTC order placements, and frequently I get too nervous when I consider the possible employment of some of those other tools.
I am not really sure if I might be handicapping myself, but my ongoing strategy has not really been involving shorts. My ongoing system has been employing the placement of longs and closing those longs and if the BTC price drops to employ new longs with the money generated from closing longs at higher prices.
There are not too many members who have attempted to publicly describe their strategy as being similar to mine, but supplementing something like my system with the employment of shorts into the mix. The only member that I recall attempting to publicly describe his system in such terms is d_eddie, but even he said that it was very time consuming, and I am thinking that he might have been feeling like he is spinning his wheels a bit much, once he tries to incorporate prediction in the mix. So, yeah such a system will likely work a bit better if the trend is largely down, but sometimes surprise upward movements could end up wiping out most if not all profits, if you had been betting down and then the price ends up moving against you.
I also got a few more free courses on udemy. So I will find some time to continue the learning.
One advantage of what you seem to be attempting Globb0 is that you seem to be attempting to make your learnings your own system, so of course, learning whatever techniques that you can feel comfortable employing. Each trader does seem to have his/her own angle in terms of which tools and indicators s/he relies upon in order to filter through information and to make order placement decisions.
Meanwhile in Bitcoinlandia (like it Jay?
)
You mean do I like the recent dip? Which might mean that we are just holding off from going above $10k or that we might end up reversing from here? Either way, I am o.k. Of course, I prefer up, but I really can understand that there could be a bit of a short-term deeper correction, especially since we have not really had one for close to two months.
I doubt that a deeper or longer correction is necessary in order to continue up...so this might be merely extended consolidation and coiling for a bit of time until there is a bit more bull readiness to continue with UP.. or at least allowing a bit more buy support to continue to build up and to catch up before resuming up.
In our current situation, my latest BTC sell orders executed at around $9,300 $9,450, $9,700 and $9,950... My next BTC sell orders are $10,200, $10,450, $10,700 and $10,950, and thereafter my sell orders go up to $500
(instead of $250) increments until $15,000 and then go up to $1,000
(instead of $500) increments. My next buy orders are $9,200, $9,050, $8,800, $8,550, $8,300, $8,050, $7,800, and continuing similarly all the way down and pretty much stay in $250 increments all the way down.
By the way, Globb0... this might be a bit of an aside. You can employ some kind of system that you know works, no matter what is the BTC price direction, that does not involve betting. I engage in that behavior, sometimes. I start to feel as if the BTC price has greater chances to move in one direction or another, and I may even get some feelings that I tend to be correct a lot more than I am not correct, but I still do not change my buy/sell orders, merely because I have feelings and I believe that the price is more likely to go in one direction or another. When you have active orders, however, you will likely become more actively engaged in paying attention to some details that you might have otherwise overlooked, which also might affect your thinking in terms of whether you want to employ some extra ammunition in one direction or another, and also if you have active orders, it is way easier to just tweak them in accordance with your expectation rather than placing new orders, when you do not have any orders outstanding. That's my sense.
Something of a reversal indicator (not always if *retests then up)
Most interesting was the sudden turn in the moving trend line. See it suddeny switched to the bottom of my channel and now is hugging that line. Weird coincidence? or does it mean something? Im not sure.
RSI is still in its peaky area.
Hourly is there a hint of the *retest here, early to say yet on the daily
So you would just have to be watching for these signals all the time
I admit that I do look at these kinds of plottings sometimes, just for curiosity sake, but they don't really affect me in the short term. Of course, if you are making bets, based on indicators that you see, then surely the indicators can change fairly rapidly, but I don't know if that means you act on it, or not.. that would depend I supposed in terms of if you believe that you should let the price come to you rather than moving your orders around too much.
