Thank you all for the response. I appreciate it.

Thanks,

Hello,

Is there a mobile app for trading BTCUSD on Poloniex? I wish I can use MT4 mobile app.

Thank you,

Hello,

How do I determine the daily OHLC prices for BTCUSD? It trades 24 hours a day so does this mean open price is determined at 0:00 time?

Thank you

Hello,

I would like to make a long term investment in XRP cryptocurrency. I will buy and hold for years.

Questions:

1. Where can I make a purchase of the Cryptocurrency to hold? I have used CoinBase to buy BTC, but they not sell XRP, I don't see it there.

Thank you

Hello all,

I am currently day trading BTCUSD, LTCUSD, and ETHUSD in sim or paper money mode.

I notice the price action for each market (BTCUSD, LTCUSD, and ETHUSD) trends the same.

Is this normally?

If so, does it make sense to trade all three since the trading setups look the same? seems like double the losses if all three markets trend the same.

Perhaps, its much easier to just trade one like BTCUSD only or he one with less spread.

Your thoughts please.

Thanks

Hello,

I am trading BTCUSD and LTCUSD and ETHUSD everyday using technical analysis.

I am using ATR (Average True Range) for me stop loss placement per trade.

What can I use for taking profits or exiting the trade? I would like something more dynamic to market price action and not static profit target such as X times stops loss distance.

Thank you kindly.

Hello,

I am a trader and would like to trade BTC/USD. But after reading these thread seems like its hard to trust a broker.

I live in the USA. Who do you recommend me trading with?

I need to use MT4 platform and their app. My friend recommended Jafx, but they are not regulated and do allow USA clients and can use the MT4 platform.

Thank you kindly.

Hello,

Can you please recommend me a trust worthy broker (that allow trading BTC/USD) for the USA?

I need one that allows trading via MT4 platform and MT4 mobile app. Lower margins is always a good thing.

Thanks,

Thank you,

What is your :

1. Method for back testing a strategy?

2. How many trades do you backtest?

3. What profitability stats do you recommend to calculate to show the odds of strategy being profitability in the future?

Thanks

hello,

I plan to start day trading bitcoin in about 1 one week. I live in the USA and have been sim trading with SimpleFx.

What are some questions to ask brokers before transferring bitcoin to them and start trading live?

Thanks,

Thank you kingofcommerce for responding to my post.

I agree with you very much. Another reason for me its not good idea for me to build bot, is because my programming experience is with NinjaTrader which does not support crypto market yet. CME Futures will add the crypto trading soon, but even then just not really enough historical data worth risking time and effort building a bot for.

So, yes, I agree with you for me its just not time to build a EA for crypto. Agree manual swing trading crypto have been very nice and less noise like in the futures markets.

Regarding the spread, and for anyone else reading, when building the bot, we can adjust for 20 point spread by updating the slippage parameter per trade during the back test. But yes, i agree with you. with a 20pt spread, there is loss soon as enter the trade.
Thanks.

Hello squatz1,

Been there many times!! I am planning to start intra-day trading the crypto markets once I figure out a safe and reliable broker to use with MT4.

I understand the feeling. You take a take trade, making money, now should I exit, but what if it keep going, what if turn around on me, what about the next trade, i will feel like an idot if I miss this trade.

Questions:

1. What is your rule for profit taking?

2. Why is that your rule for profit taking? Do you have any statistically or proven evidence for this profit taking rule?

3. If you have evidence that taking profit early will overall keeping you making money consistently, why be upset when take profit? For example, if I had some type of proof from a back test or some guru trader saying "goodoboy, every trade you take 100 pts and you will make $40K in a year" i will definitely take 100 pts per trade.

You see what I mean. It's not about 1 or 2 trade, it's about consistently doing what's in your rule book for 1000 trades tha will earn you $XX,XXX per year. The rule book can be a gut feeling, dog whisper, paid service, etc. Your job is a trader is to be an unemotional money maker.

I hope that make sense.

Thank you so much philakone for your hard work and taking the time and effort to help us newbies get a decent start.

The most important thing you said was back test whatever strategy you want to use, sim, then live.

I currently been sim trading BTCUSD, but would like to add 2 more markets for study incase one is too choppy or stale

May I please have some help as I am bit new to cryptocurrency market, but not new to TA study?

Questions please:

1. Do you use Bitfinex as your chart analysis and broker as well to day trade all 3 coins?

2. For now, I work a full time job, and I use MT4 mobile (at work to watch the charts every hour or so) and desktop app (at home) with SimpleFx as my broker. What timeframe do you recommend for my case? I was thinking of just watching the 1 hour chart once per hour for long buy and sell swing trades.

3. What stop loss do you recommend if starting with $200 - $300?

4. Do you have a video on how to increase lots size as account balance increase?

5. Do you recommend trading with coins or just deposit cash in the account? Like you, I don't care about buy and hold forever.

6. I plan to manual back test a few methods over the weekend. Do you have a spreadsheet you use to determine if a strategy is profitable?

7. Do you back test by or some type of market replay software?

8. After backtesting, how do you make the decision if a strategy is profitable, decent drawdown, or worth going sim/live with?

9. How many trades do you use to have statistically confidence in a method?

9. Do you know of app that can alert when EMA crossover occurs?

10. What are you thoughts on programming and backtesting a bot for testing ideas?


Thank you kindly for help

Hello,

Recently a friend introduced me to cryptocurrency market, specifically Bitcoin (BTCUSD) day trading. I currently develop strategies and back test strategies with NinjaTrader for crude oil and other CME Exchange futures.

I gave up manually trading a year ago. but thinking I should manually trades these markets for awhile.

The price swings in BTCUSD are very intriguing as us traders love a moving market to make money.

So I started reviewing the chart and looking into using MT4 to program a few strategies to back test for the BTCUSD market only.

Questions or Your opinion

1. I do not believe its good idea to program strategy for Bitcoin market cause not alot historical data. Look at weekly the chart. There is only about 8 months of good data and its all been in a up trend. My idea was to build an intra-day strategy.
What do you think on this please?

3. Also, not good idea to program strategy because of the high spread/slippage. I take trade manually and already down 25 pts.

2. I plan to build intra-day strategy. Does MT4 have intrabar granularity back testing simulation?

From just an overview of the cryptomarket, maybe best to just manually trade these market for a year before programming and back testing.

Maybe some thoughts.


Thank you for help and advice.

Hello Shogunisback.

I am new here and I have some years of manually day trading several different markets. I am new to bitcoin trading.

About 7 months ago, I made the decision to move from manually trading to automated trading for the follow reasons:

Pros

1. I always doubted the manual trading method I was using even though I manually back test it for about 200 trades

2.  Time: Working a part time to full time job, it's tough taking trades and watching the charts.

3. Programming and backtesting a strategy lets me see what the odds of that bot being successful in the future. It just make sense to me why risk money in the future on something that made less profits in the past.

4. I can test any trading method I choose. No longer do I have buy a trading system and HOPE it works. Program it and click back test.

5. Reduces stress. manually taking trades all day, every day can become stressful if you not careful.

6. My odds of winning is increased because I tested the strategy.

Cons

1. Trusting the backtesting simulation and the historical data is the upmost important thing with bot development. garbage in, and garbage out. you will be tested and optimizing alot, if the historical is not trustworthy, then the profit and drawdown will lie to you. Test test test test that your back test is not lying.

2. Slippage. Tradig BTC/USD manually, i notice the spread is just outrageous. You lose money when first enter trade. So slippage needs to be 20pts in the back test simulation.

3. You have no control, once you click Start, that's it. let it run til drawdown is hit.

I agree with everyone else, I would not buy someone else bot. If it works so good, they would not be selling it to me. better yet, give me the trading method and let me test myself first.

Thank you. Simplefx is good too. They have a web base platform and connection to Mt4. They have a big spread of $22ish though trading bitcoin.

Thank you for the response.

Just to make sure I understand. A person can buy a bitcoin on one exchange for cheap price, then sell on another exchange for higher price?

Why not just buy and sell higher on one exchange? I am not sure I understand?

Thanks

Hello,

I plan to day and night trade BTC/USD. I am located in the USA.

Can you recommend exchange I can sign up with the following requirements?

1. Decent desktop web base charting.
2. Mobile trading, Android
3. Price Alerts.
4. Capability to use MT4.

Thank you kindly.

Hello,

Glad to be here.

I am looking to day trade BTC/USD and searching for an exchange to use with good charting. So far I like Bitfinex because of there amount of volume.

Why do most exchanges have different prices? I am not sure I understand this to well.

Thank you all.

Thanks Kloug for the help,

I plan to only day trade the bitcoin market BTC/USD so, I will be cash most of they day or when I go to sleep.