pokercel
Iron
- Joined
- Mar 13, 2024
- Posts
- 133
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- 99
I wanted to post this on reddit, but my posts are not goin through, so screw it I will post it here. Enjoy degens
Hi
I wanted to post this at the subreddit which I am not allowed to say the name here for some reason.
Anyways, my post was not going through, so I thought if I put this together, I might as well just post it somewhere, because I want people to benefit from my findings and success.
This is an update on my post 2 months ago. (I am not allowed to put the link here)
I stated that trading is easy and it triggered some people, so I wanted to make this post and add some useful tips even some basic strategy tips for you.
I know I haven't passed my challange yet, but honestly I am not worried about spoiling it, it's just that I had time and inspiration to create this post now. This is my first 1OOK challange, before that my max was 2Ok. After testing for days, I knew that I was ready for a big account, so I went for it.
There is a lot I want to say, but I will try to keep it short.
I started taking action in last year september, I watched some strategy videos and bought some small challanges ofc I blown all of them. Then I stumbled upon the strategy tester on tradingview and I started coding pinescripts with chatgpt and started testing different ideas. As soon as I did that, I started seeing profits right away with no effort. So i just kept testing until I found something useful and kept tweaking it with simple ideas. I look at trades individually and see how can I improve with the least and simpliest addition that will work.
Right now I only do testing and trading on 4h, because I am still a beginner. This way I pay less fees and I see less noise on the market I believe, so technical analysis work better (for me). I have 3 different strategies, but they are very similar so I always choose the one that makes the most sense at the time.
I will share some of my basic finding on bitcoin trading.
I only take long orders. Market has been bullish for 2 years and is even more bullish this year it seems.
I use 2xx EMA to identify when it's time to prepare long orders, so basically this is my #1 indicator that I use to to enter a trade. Of course 2OO+ ema is very long, so I might wait weeks before taking on any trades. My exit strategy could be improved, because I do purely manual/discreation exits, however it seems to be doing well for now as I get plenty of time to exit before the market shifts the other direction. For example, if I know big market open is coming on Monday and I am sitting on a new high, I usually close the trade or regret not closing it. I may enter back at a later time if I see the opportunity to it. For SL I just use ATR. Of course, do your own testing. Because I trade prop firms, I cannot give a lot of details, however it doesn't take long to create your own. I probably spent less than 1OO hours on testing and I have learned a ton. You don't need a lot of strategies unless you are managing millions of funds I think.
Also you have to know about me that I did a lot of coding in the past and I have been playing online poker professionally for the past 3 years, so my skillset was already provided for writing scripts and knowing that being a winner means is playing a winning strategy and not caring about results.
Here is an example prompt you can give to chatgpt to create a script.
More tips, facts etc:
-make sure to set up fees, so you get a correct idea of how your strategy performs
-calculate your sizing based on your drawdown if you are doing propfirms
-chatgpt will many times give you a code that works, but doesn't do the thing you asked for. Make sure to check your trades manually and correct your code your own if needed
-pinescript is probably the easiest script language I have ever seen, so you shouldn't feel discouraged if you don't know anything about coding. It can be learned super fast and easy.
-the strategy tester is completely free on tradingview upon registration
-no, I don't work for tradingview
-I have nothing to sell everything I say is completely free. I am just a regular guy and not a trading guru, I don't have course or anything.
Hi
I wanted to post this at the subreddit which I am not allowed to say the name here for some reason.
Anyways, my post was not going through, so I thought if I put this together, I might as well just post it somewhere, because I want people to benefit from my findings and success.
This is an update on my post 2 months ago. (I am not allowed to put the link here)
I stated that trading is easy and it triggered some people, so I wanted to make this post and add some useful tips even some basic strategy tips for you.
I know I haven't passed my challange yet, but honestly I am not worried about spoiling it, it's just that I had time and inspiration to create this post now. This is my first 1OOK challange, before that my max was 2Ok. After testing for days, I knew that I was ready for a big account, so I went for it.
There is a lot I want to say, but I will try to keep it short.
I started taking action in last year september, I watched some strategy videos and bought some small challanges ofc I blown all of them. Then I stumbled upon the strategy tester on tradingview and I started coding pinescripts with chatgpt and started testing different ideas. As soon as I did that, I started seeing profits right away with no effort. So i just kept testing until I found something useful and kept tweaking it with simple ideas. I look at trades individually and see how can I improve with the least and simpliest addition that will work.
Right now I only do testing and trading on 4h, because I am still a beginner. This way I pay less fees and I see less noise on the market I believe, so technical analysis work better (for me). I have 3 different strategies, but they are very similar so I always choose the one that makes the most sense at the time.
I will share some of my basic finding on bitcoin trading.
I only take long orders. Market has been bullish for 2 years and is even more bullish this year it seems.
I use 2xx EMA to identify when it's time to prepare long orders, so basically this is my #1 indicator that I use to to enter a trade. Of course 2OO+ ema is very long, so I might wait weeks before taking on any trades. My exit strategy could be improved, because I do purely manual/discreation exits, however it seems to be doing well for now as I get plenty of time to exit before the market shifts the other direction. For example, if I know big market open is coming on Monday and I am sitting on a new high, I usually close the trade or regret not closing it. I may enter back at a later time if I see the opportunity to it. For SL I just use ATR. Of course, do your own testing. Because I trade prop firms, I cannot give a lot of details, however it doesn't take long to create your own. I probably spent less than 1OO hours on testing and I have learned a ton. You don't need a lot of strategies unless you are managing millions of funds I think.
Also you have to know about me that I did a lot of coding in the past and I have been playing online poker professionally for the past 3 years, so my skillset was already provided for writing scripts and knowing that being a winner means is playing a winning strategy and not caring about results.
Here is an example prompt you can give to chatgpt to create a script.
More tips, facts etc:
-make sure to set up fees, so you get a correct idea of how your strategy performs
-calculate your sizing based on your drawdown if you are doing propfirms
-chatgpt will many times give you a code that works, but doesn't do the thing you asked for. Make sure to check your trades manually and correct your code your own if needed
-pinescript is probably the easiest script language I have ever seen, so you shouldn't feel discouraged if you don't know anything about coding. It can be learned super fast and easy.
-the strategy tester is completely free on tradingview upon registration
-no, I don't work for tradingview
-I have nothing to sell everything I say is completely free. I am just a regular guy and not a trading guru, I don't have course or anything.
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