[Daily Discussion] - Tuesday, January 19, 2021 Bitcoin Markets |
- [Daily Discussion] - Tuesday, January 19, 2021
- I created BullMarket mode for my trading simulator - practice on 30 hottest assets in last months
- An update on bitcoin dominance
- My thoughts in crypto world.
- Why I believe stock traders will soon come to Bitcoin
- [x-post from r/daytrading] Bitcoin AI Trading Algorithms
| [Daily Discussion] - Tuesday, January 19, 2021 Posted: 18 Jan 2021 09:00 PM PST Thread topics include, but are not limited to:
Thread guidelines:
Other ways to interact: Get an invite to live chat on our Slack group [link] [comments]  |
| I created BullMarket mode for my trading simulator - practice on 30 hottest assets in last months Posted: 19 Jan 2021 09:02 AM PST 2 months back I launched my trading simulator — TradingGYM. Today, to celebrate the insane Bull Market we've been having, I'm launching a special Bull Market mode, where you only trade the 30 hottest assets for the last Bull run since May 2020. I've handpicked the 30 hottest Crypto assets in the last months. Since November, most of them have increased somewhere between 100% — 400% with some outliers giving even higher returns. BTC | ETH | DOT | ADA | LINK | BNB | UNI | AAVE | THETA | SNX | IOTA | YFI | COMP | AVAX | SUSHI | ZIL | WAVES | GRT | EGLD | RSR | LUNA STX | ZEN | RUNE | BAND | TOMO | UTK | SRM | INJ | COTI Bull Market is a very special time and requires to get adjusted to new market tempo — way bigger runs and way more volatility. Stops need to be bigger and profits need to be allowed to run much higher than we might usually anticipate.
To those that say "you only really learn in live trading with real money where emotions are included": Psychological factor matters, but multiple components contribute to success. I believe some can be trained in isolation with greater emphasis, like pattern recognition, figuring out entries/exits, stops/TP, etc. This app focuses on that. To those that say "there is already paper trading or demo mode in exchanges": You learn infinitely faster with an app like this because you can fast-forward time. To those that say "this is Bull market, you just buy and hold": First of all, even in the Bull market, you have to know when to exit, it will end eventually. Second, try to compete with Buy&Hold instead of just trying to be profitable. If you can't beat Buy&Hold, rethink your strategy. Enjoy, good luck, and LFG! [link] [comments]  |
| An update on bitcoin dominance Posted: 18 Jan 2021 10:51 AM PST A few weeks ago, I made a post on how I expect bitcoin dominance to continue to rise until it reaches 80% dominance. However, I would like to suggest an alternative scenario: https://www.tradingview.com/x/XsdVmLVA/ As you can see, we bounced off the 73% dominance mark, which served as resistance and support two previous times. This suggests we could be forming an ascending triangle like formation. The darker shade and lighter shade of blue on the above chart are the 50% and 75% width of the triangle. This suggests we are getting near the breakout of the ascending triangle. If bitcoin dominance continues to decline, then we are likely going to retest the ascending trendline of the triangle. A bounce from that trendline at a similar angle as previous bounces would get us to 80% bitcoin dominance by early August, just in time for a late 2021 altseason. It would literally be a repeat of 2017, but with increasing bitcoin dominance instead of decreasing bitcoin dominance. However, the past few weeks could also be a fake out, similar to the one that I circled in black. All in all, I think now is a good time to rebalance some bitcoin into altcoins to take advantage of a possible decline in bitcoin dominance. If bitcoin retests the descending trendline, that would be a 5% decrease in bitcoin dominance. For comparison, the last time bitcoin dominance decreased by 5% in June-August 2020, coins like LINK and AAVE increased in value 400-600%. So some moderate altcoin buys are good risk reward. But IMHO make sure to keep a large hedge in bitcoin just in case it ends up being a fake out. [link] [comments]  |
| Posted: 18 Jan 2021 06:43 PM PST |
| Why I believe stock traders will soon come to Bitcoin Posted: 18 Jan 2021 06:37 PM PST With the stock market continuing it's bull run, it is clear that many people with no experience with investing are talking about how much money they are making. Now the point of this post is not to expose the hype in the market, but rather expose the emotions that come with these new investors. Anyone that has experienced a bitcoin bull run knows that making money is potentially the most addicting drug you can possibly try. And thanks to that stimulus check going directly to so many Robinhood accounts over this last year, there are probably more people addicted to the market than ever. Now the thing is, what will happen if the stock market starts to go flat and the returns are average? Or when the profits starts going back into value rather than growth and tech companies? These new traders will still want their fix of dopamine from their account shooting up in value, but they won't be able to get this from tech stocks. Luckily, Robinhood has cryptocurrency and whether these new investors care about crypto or not, they will see bitcoin continuously going up. I believe this will be the catalyst to start the "mania" phase for crypto. Once these over-valued tech stocks start performing subpar, I expect the stock addicts to sell their stocks and buy bitcoin. This will push the price of Bitcoin and other altcoins up higher. We saw what they did to Tesla stock, and all the tech stocks that IPO'd this season. Just imagine what they could do to the crypto market. Of course, this is all speculation and anything could happen. But being involved in both crypto and the stock market, I am starting to see my unexperienced friends talk about stocks like people talked about crypto back in 2017. Considering that I expect Biden to stimulate the economy like never before, and for inflation to rise, I can not see a bear market happening in stocks or crypto anytime soon. At the same time, tech stocks are massively overvalued (IMO) and things can not go up forever. I think these same investors are also not willing to put in the work to understand financial statements to find the best value stocks. Bitcoin will offer these new stock investors high returns with the same buzz that tech companies have. Anyone else have an opinion on this idea? [link] [comments]  |
| [x-post from r/daytrading] Bitcoin AI Trading Algorithms Posted: 18 Jan 2021 03:18 PM PST Thought this would fit in well here as well, let me know! Sup everyone, Does anyone have any background / experience using Artificial Intelligence trading algorithms? I'm working with a few, and so far the returns are really good. You basically flip a switch, get your investment back after x amount of time (depending on the algorithm), and then after that, it just creates profit for as long as you keep it turned on. Really basic run down, but that's the general idea. Feel like there isn't a ton of talks about using AI while trading and it kind of takes out the inevitable human error of trading. Anyone using AI in their daily trading? I've attached some data on a few algorithms we have running on our end, wanted to compare with anyone else who is also using AI, if they're keen, or to just open up the dialogue on using AI while trading. BTC AI Algorithm Data screenshots Google Sheets link to full data - but don't know how well this will work just attaching it in here, if it doesn't work just let me know and I can send you the full sheets data we keep tabs of - [link] [comments]  |
| You are subscribed to email updates from Sharing of ideas, tips, and strategies for increasing your Bitcoin trading profits. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment