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RE: Daytrading vrs Position Trading, which will make you more money?
Only B.. (a) was too small a bounce to signify strong support at that price, so not a base..
Only B.. (a) was too small a bounce to signify strong support at that price, so not a base..
@quickfingersluc: I suggest including examples like this when you compile your F.A.Q. This seems to be the most common error made. I use the measure tool in coinigy to assure the bounce is strong enough to signify support, once I started doing this rather than eyeballing charts it became much easier to determine where a base truly exists.
how do you use the measure tool? what is it exactly and what is your criteria?
Thanks! and Thanks to you too luc!
Measure tool does exactly what you would expect it to do - measure time and percentage change. Criteria is different for every chart, look at the past to predict the future.
Thanks! what determines a " strong support " ??
Also, how soon d you usually wait to sell on a position trade? Are there any rules like always sell when you close for the day? ETH hasnt hit back up so itll take some time. but how long is " too long" ??