Swing trading ICX


#342

If a hundred new people join the Pub every day, it probably has to be said a lot. The good ol times when you had the place to yourself are gone.


#343

one thing you always have to account for when day trading is that the price will always for higher than what you expect and it will always go lower than what you expect.
put in multiple buy and sell orders ranging between 2-5% to cover your ass.
thats if your looking at the hourly charts.


#344

Yo that btc drop on the one minute crazy


#345

Holy cow that was a long azz red candle lol.


#346

What charts are most looking at for swing trades?


#347

is it just a case of selling anf buying back in at a lower entry point?


#348

Yes pretty much if you own 300 coins and the price is 40100 satoshis you sell and buy back at 40000 it’s a 0,5 ICX in your pocket or you can go bigger and sell at 42000 and buy back at 38000 that’s around 30 coins if you do this everyday and know what you do you can reduce your lost for exemple I got 300 coins at 67000 and now i’m in profit if he break 54000


#349

but what charts do i use to track it all?

how do i know from the charts if its going to pump?

etc etc


#350

Perhaps start with B90X.


#351

1/3/5/15 min you have too keep your eyes on these four everytime, learn the Stoch RSI and the MACD and get used too some movement if you want too learn make some trade in your head first for a week that help then you can start and go easy on it
But you always make a mistake and end up losing some money at some point, it’s not safe.


#352

The trick is to win more than you lose :wink:


#353

TradingView is a good free site for charting :+1:

Have a look at :- trading 212(good for basics) and ukspresdbetting(more advanced) both on YouTube.


#354

Like to add, it’s best to look further out first,say 1hr,4hr,daily to gauge how the overall trend is moving then going down to lower timeframes for entry points.
In general it’s more profitable to trade with the trend.


#355

I’m liking the look of the 4 hour chart atmo, an engulfing candle after the spike higher earlier today.

So I’m now short from 3810, stop loss just above 3900, targeting toward the 3550 low.

See how we go


#357

Where are you shorting at? Or do you just mean you are flat in bitcoin?


#358

From here basically mate. Against BTC


#359

No, i mean, are you shorting it or are you just selling ICX with plans to buy back later. Like, when I short ripple, I make money on the drop the same as when I long a good coin**.

If you are shorting it, I was just wondering which exchange.


#360

Its the same either way, as I profit from the icx value decreasing against another market

*Sorry, no just selling it, I didn’t realise it was possible to trade icx on margin yet :slight_smile:


#361

It’s not actually the same. If I were to short something against the US dollar, and it dropped, my US dollars would go up. If I sell something for USD before it drops and buy back in at a lower price, my USD price has not increased at that time.


#362

Ah, sorry. Yeah, you got it. Thanks, Bro. I was just curious if there was an exchange to short ICX… lol. Thought I might go liquidate the bastards :rofl: