Bitcoin | Stop Losses

[@benjaminphoenix]

I have no idea why you don't have 20k+ followers and 1k+ likes one every video. You're the best kept secret I guess. Your videos have directly answered questions I've had for the past year. Thank you. Please don't stop making videos.

[@bitcointradingchallenge3861]

Thanks for the support!

[@sistematico17]

Bitcoin Trading Challenge When you swing trade cryptos, do you use stop loss? I used to but it just sucks when you have a nice technical formation, take a position, everything is going great, and then BTC starts either mooning or earthing and then your setup gets all ruined... so I'm curious about when or how do you handle that

[@bitcointradingchallenge3861]

Yes, stop losses are part of every trade.

[@LM76YU]

'If you move your stop loss down then you basically dont have one' is todays best quote .. on par with 'spend peanuts, get monkeys' .. the quote i learned yesturday

[@rickdeckard9810]

Really appreciate the well thought out and produced video. Much of what I've seen on YT have been guys just winging it off the top with lots of stuttering and mistakes and when you're trying to learn something it can be more confusing watching a poorly made video. Thanks!

[@aslanbc]

exactly what I'm looking for! Thanks

[@nickwalshblog9784]

great vid again thanks

[@nachoci6876]

hey another great video! thanks we learn a lot with them!!

[@cryptostar1427]

Great video, thank you for your eloquence

[@BrunoConterato]

Great lesson! Thank you!

[@TheDiamond872]

Great video.

[@martinf490]

Your an absolute legend if nobodies told you yet. By the way can I ask whats your P/L look like on Crypto/trading in general, sorry if a specific number is too personal maybe a % gain?

[@Oscargs7]

Fundamental!

[@NoneOfYourusinesss]

Nice one, thanks again dude. Where did you get this knowledge ? If i may be so bold.

[@bitcointradingchallenge3861]

Good question. Before each video I produce + each series I reread important portions of books that I own and take notes and then I read online articles and take notes on that as well. I then look for as many specific examples in the market as possible to ensure that the strategy/analysis has merit. I do this for 90% of my videos - with more experimental videos like my Google Trends video I backtest as much as possible with multiple markets so that there is confirming evidence of the strategy/analysis having high expected value.

[@sistematico17]

Awesome video! When you swing trade cryptos, do you use stop loss? I used to but it just sucks when you have a nice technical formation, take a position, everything is going great, and then BTC starts either mooning or earthing and then your setup gets all ruined... so I'm curious about when or how do you handle BTC movements that affect the entire market

[@miraeja]

can someone with a giant twitter following please retweet this guy more subscribers??? hidden gem on youtube

[@bitcointradingchallenge3861]

I would really appreciate that! Thanks Miraeja.

[@franciscomarchi891]

Great video! How do you place stop losses when using Gemini?

[@bitcointradingchallenge3861]

Gemini does not allow stop orders unfortunately.

[@Zemnexx]

What trading platform actually supports stop loss orders?

[@bitcointradingchallenge3861]

Bitfinex and GDAX.

[@emprendeperez]

what program/site you use to see bitcoin/ether price and volume

[@bitcointradingchallenge3861]

I use Tradingview and Cryptowatch for analysis.

[@jbell1166]

If you want to short btc in binance do you just put holdings into tether and wait for the drop? How much does tether charge, one to 3%? Thanks

[@BillsSpamMail]

Why take gains? Only to have a high probability of buying back at higher price!!! Only to incur short term (i.e. marginal tax rate like 32%) instead of 15 or 20% long term capital gains tax rates. Better to just keep moving your stop loss up (i.e. stop loss of gains earned)

[@Cptblogh]

And don't forget paying more fees too by getting into new trades. True that my friend.

[@BillsSpamMail]

Not safe to keep your coins on an exchange. Crypto is so volatile that there not time to notice alert and move out of hardware wallet to an exchange. Especially bitcoin which can take hours to move during a decline.

[@Naudins]

I understand you use Gemini yourself, which does not have stop loss. How do you approach this? Can you use a limit order as stop loss or have you written some code or something?

[@bitcointradingchallenge3861]

www.bitfinex.com/

[@Naudins]

They don't accept US customers anymore, right?

[@bitcointradingchallenge3861]

Then your best bet is GDAX - they allow stop orders: www.gdax.com/.

[@Naudins]

Alright, thanks! I'm still waiting for their verification..

[@BillsSpamMail]

Besides Stop losses don't work too good on recent orders because there always a group of pricks that for a 1 or 2 minute period decide they going to discount their coins by 30%. As you showed in your video, the price plummets and the coins you bought an hour earlier have been sold and within a few seconds the price is way higher than you paid an hour earlier. You sitting on huge loss for nothing. I just had that happen with bitcoin and litecoin that I bought earlier today.

[@BillsSpamMail]

By the way if i hadn't seen this video I would not have set stop losses until my coins doubled in value.

[@BillsSpamMail]

And even the ripple I bought for 20 cents, in a matter of minutes after adjusting my stop losses to 51, 83, 95 cents, and 1.06 based on a current price of $1.21 started stopping out within seconds. The nice stable 1.20 within seconds of my placing my order triggered the 1.06 stop, then the 95 cent stop then promptly came back up to 1.21. If I follow his rule, I can not buy my Ripple back....for how long.