Quote from: apachebalou on August 28, 2014, 06:11:08 AM

Very interesting thread, definitely following this! Nice with some honesty for a change.
So I have been following crypto for a while, but is new to technical trading, so please forgive me for newbie questions.

So how do you decide the stop level? I saw in your excel sheet that you put the stop level 3 % under current value. Do you calculate that percentage in relation to market volatility or something? I guess I have the same question for the exit region.

Also, do the fact that the 515 level seems to have some resistance alter your current strategy?

Thanks apachebalou, sorry for delayed answer, have been laid low with flu. Regarding you questions. The stop level is NOT an arbitrary % below the price action, it is placed behind any obvious points of support that if broken would indicate further lower prices would occur. For this trade there was an ascending support line + rising moving averages + recent price bounce all above my stop. The idea being to keep the stop away from normal price volatility but close enough to protect when price stops moving the way you hope it will. The idea for this trade was that the price would breakout, consolidate below $530 level then continue through that point, however that didn't occur and the breakout failed and the support points above my stop failed. I exited the trade at the area of my stop $504. As I knew $530 was resistance I could have taken profit at that point, but if it had continued to breakout above there and I took profit then I would have a small profit and missed the move I was trying to trade. As it is I was out with a small loss $510 entry $504 exit.

Quote from: darkcond0 on August 30, 2014, 06:39:07 PM

Do you have any recommendations for good resources that I could study to better understand the basics of your decisions? I'm new to all this, seems very interesting.

I am using technical analysis, support/resistance, patterns, averages and strict money management. There is a lot of online resource I haven't really any to recommend above another as there is so much and to a certain extent it is a personal interpretation that you fit to suit your own approaches. If I were you i would google and read up on topics you find interesting and see what starts to appeal to you.

Quote from: minerpumpkin on August 30, 2014, 06:47:09 PM

This is a very interesting approach! I think a lot of people should just go and try their strategies on (public?) virtual portfolios, so that people can see whose strategy (or wild guessing) is best! Is there a site to do this?

There is a lot of such sites in the FX World where traders post their ideas and people follow them either actually taking the same trades or just to learn.