Let's discuss why I Do Not use indicators
Lately in the chatroom I have seen discussions about indicators, and regular old technical analysis. So I decided to address this topic a little tonight. I apologize if I trash talk your favorite indicator. If it works for you than that's great (and kinda amazing), but its not something that I will promote in my blog.
But that about Candle Stick Patterns? That can't really be considered as indicators right?
Did you know that candles look different on every exchange? So while BTC is showing a clear Doji candle that is very bullish on a bittrex chart, its completely different candles on a Bitstamp chart.. This is because different orders are going through on each exchange. And that's not the only thing that changes a chart, candles will look different depending on the time the candle started on your chart. Also 5 min candles print different than 10 min candles. So all the exchanges are printing different versions of charts with different candles on every coin.. Come on??? Which chart are you going to reference to accurately read your Candle Stick Patterns?
Please be careful guys when looking at all that old TA info.. It really muddies the water. It serves to confuse traders, rather than help.. This is what we will discuss in this video. Here is the Youtube link incase you have trouble with Dtube :
Luc
On a side note: people on my blog have mentioned that some did not receive an invite even though they completed the survey to join the Slack Chat room.
For some issues Slack is responsible and does not deliver the invite email. But there are also people who were invited but did not check the spam folder or did not register the account. So if you did not get an invite, please submit a different email address. We found out that switching to a different email resolves most issues.
Invites are checked several times a day, so if you did not get an invite after 24 hours then you should try using a different email.
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@quickfingersluc
First off, saying thank you and telling you just how generous with your time and knowledge and the way you have simplified the most important aspects of trading... for me is simply never going to be enough. You Sir have given each of us the tools to create the life, for me anyway, I've always dreamed of. I've spend countless hours looking and paying for courses which do little if nothing for my trading. I literally stop what I'm doing when you post a blog. Again THANK YOU.
I have been studying your method for some weeks now, and have used it for success also. I have also begun to use the line instead of candles to become more comfortable with, as I hope to move into stocks and penny stocks just like you. And use the your method for more success. I love Crypto and will continue to invest into it but the Stock market excites me also. Again Luc, thank so much.
Cheers,
Clive.
Hey Clive, Thanks for letting me know your a fan of my work. Thats what keeps me making videos, knowing that they are helping others. I traded so long only helping a few people at a time, until now. With steemit and now the slack room, I can really reach out to a lot more, while still being able to trade all day, undisturbed. Its a win win..
Thank you, Luc! This video is another masterpiece. I think everybody here should watch! Luc is the real deal, the perfect model for us to follow. The best teacher of trading! Luc is giving a huge contribution to the crypto market helping so many people to develop a new professional skill and everybody can do it without leaving their current jobs. I hope many others benefit from Luc's teachings and share their wins! Thank you, from the bottom of my heart, Luc!
Hi Luc, thank you for your last video.
Just a quick question, are you using your base strategy and no indicators for the penny stock market and your day trading ? Or is your strategy only adapted to the cryptomarket ?
Thank you again for sharing your knowledge.
Hi Luc. Just wanted to say thanks for all you've done for this community. You've made trading accessible to noobs like me.
I also was wondering the same thing as @kevber.
the penny market is quite different. I don't use any indicators there either, but im mainly a level 2 trader in the penny market. So it doesnt really apply to this market much.
could you make videos about the penny stock market, i think me and others would really appreciate it ;)
No, sorry.. I know it looks exciting, but its sooo much more difficult than cryptos.. There is tons of overhead expences, like charting packages and level 2 data, and commissions.. On top of that its a tougher market with all the pros.. I really dont want to open that can of worms and lose people money, because they are not prepared for tougher market enviroment. I'd rather keep this blog about crypto..
Hello Luc, I've watched just about all your videos and must give my appreciation for your selfless distribution of your trading strategy.
My question is: How do you decide how much money to keep in USD v. BTC v. ETH while waiting for a panic. USD obviously allows you to buy either BTC or ETH during panic, but holding BTC/ETH allows you to buy associated ALT pairs.
There is no perfect plan for this.. I keep a little of everything, but in a major drop of BTC and ETH, I stop playing with the alts, because it gets a little hairy when you have too many trades on the go.. So I trade only the big coins when they are dropping hard, and then I resume playing the alts after everything gets back to normal.. Like right now..
Luc, I just stumbled onto you today and could not be more happy!!! I just started watching your video series so I am starting with your 3 month ago videos. I want to watch all of them before I get started on my daily adventures into trading. I am so excited, I cannot even tell you!!!! I love the videos I have watched so far .. I see your passion in wanting to help newbies like myself. I wish I could crawl thru my computer and just pick your brain even more. I cant wait to get current with your videos and I want you to know that I am really looking forward to this .. Thank you so much for what you are doing!!! I APPRECIATE YOU .. Sunshine247
I'm glad to hear you are excited. Your going to have a blast trading this market. It is a very easy market to trade with the right mindset. Welcome a board.
YEA!!!!!!!! Thanks again!! SUNSHINE247
Luc, I wondered if someone might be able to reach out to me to assist me with my first trade. I would like to do that within the next day or so. I think I need a one on one because I'm having some difficulty. I'm really excited about this learning this industry and happy to find someone who can achieve the 98+ success rate without charging an arm and a leg for their knowledge. Thank you so much...If someone could assist...I can be reached at [email protected]
put in a small amount you don't mind losing and just try it. Really helps for your confidence to just try it for yourself. Even better if you make a profit!
After about a decade of trading, I do not use indicators either. Price, volume and I draw trendlines. In the end all indicators feed off of the price action (time&sales)
I Luc. Been struggling to join the chatroom for a while now, please could I get a link? Thanks so much, Alex.
I have a post with a link in my blog.. Just scroll down my blog a few entries.. I dont have a newer link than that.
Hey Luc! Just wanted to thank you for your wisdom & kindness
I really appreciate this topic being produced. People sometimes hop down my throat when I advise newer traders to stay away from putting tea leaves on their charts to predict price. But I understand, I used to be in the same position years ago, I spent countless amounts of time down that rabbit hole.
Great video Luc and funny too, wish the slack took this onboard more often. PS, you're a legend!