Episode Highlights:
- 00:07 – Trading Ripple Xrp
- 00:39 – How To Know The Time To Buy A Trade
- 03:14 – How I Did The Trade Practically
Grow your cryptocurrency investments with personal one-on-one coaching from Crypto Camacho. Click HERE
Transcription:
Hey guys! Dan here from digital uptake. Hey, I just wanted to quickly chime in to make a very quick video of a trade that I just made.
00:07 TRADING RIPPLE XRP
I literally, just made this maybe 20 minutes ago maybe less than that, I just finished selling. So, I kind of went through the process of buying and selling XRP, or Ripple very-very quickly. The entire trade spanned…gosh, probably 25- 30 minutes. I was kind of waiting there and be kind of managing it. You could see on the chart here, the trade that I made and here’s the actual coin I’m trading ripple XRP. I’ve been watching this one for a while, I haven’t actually traded it yet until literally, about 20 minutes ago.
00:39 HOW TO KNOW THE TIME TO BUY A TRADE
And I wanted to kind of just kind of walk through how I did this, and how I you know chose the time to buy this. And again, it goes back to the base trading that I was telling you yesterday. I think in the video I made yesterday, it goes back to the base trading. The entire strategy is wrapped around the base trading. And you know now that I did this, I you knowI actually made a little bit of money, and then I also got a bunch of free coins. I got a bunch of free ripple coins right. And so, if it goes through the roof, I’ll have a bunch of coins. I could always sell off those ripple coins, but I kind of want to hold them. What I’ve been doing is I’ve been day trading, or position trading quite a bit not only to make money specifically, but also to get free coins right. Any time I make a trade, and it jumps in price and I prop it, I’ll typically sell at the price that I bought it for. Maybe I’ll keep a little bit extra change there, extra money you know based on how much the gain was. But then I’ll typically, try to save and hold a number of coins right. And it depends, it varies on the trade, but I’ll try to keep some coins just in case you know. I think it’s kind of go through the roof. So, anyway let’s kind of go through this trade here just for a moment. I was pretty excited about this one. It’s a pretty beautiful spread, I went from…let me kind of zoom in here for you, and I got it down to a five-minute chart. So, you can see it a little bit better. I typically, the trade-off of a one-hour chart, it just makes a little bit easier to manage and execute within an hour. I did off a five-minute chart I actually started with a one-hour chart, which I’ll show you in a sec how I actually chose the base and so forth. But so, I bought it at about 2227 approximately, right and I sold it about a half an hour later. If that each of these increments are five minutes right,and this should really be over here. So, about one, two, three, four, five, yeah 25- 30 minutes later I sold it. So, I bought it at about again, 2223, and I sold it for about 2487 approximately right. So, that is about let’s see, it’s about 10% approximately give or take you know. So, within a half an hour you know I purchased a number of shares of ripple coins, and then literally a half-hour later I sold them for a 10% profit. Just like that you know, I made money and you could do this all-day long. I mean trades don’t happen all day long, you got to wait, you got to be patient. That’s one of the keys to base trading, but you can do it all day long right, on any of these markets, any of these coins you could be trading.
03:14- HOW I DID THE TRADE PRACTICALLY
So, let’s jump into exactly how I did this. So, let me switch over to a one-hour chart, and this is kind of how I was tracking you to following it. And this is typically what I do. And so, literally this morning I went through all of the coins in Bittrex right, I did it through Bittrex and Poloniex, and I basically went to USD tether. And I went through all of these and more, but I went through all of these different coins right over here, and I just went through, and I started marking bases. And I started setting alerts and you could kind of see where I did that. So, you could see here on the right-hand side, I’ve marked all of my alerts right.I marked a base right here, and I’m looking at that base. I marked a base right here there’s actually, two much stronger one. I marked that one right here, and then I actually marked a base way down here right. I did this for all of the coins. You can see a little sold a little bit here right after the spike, but I did the same thing here right. I marked the bases right here and the reason I marked it right here is because there’s a big upswing right here. Doesn’t it look big, but it’s not bad. It’s 4,047 all the way up to 4,255 that’s up, that’s pretty good percentage right. So, I worked a base there and actually this one’s getting fairly close and if this one cracks the base right, or here and goes down below I may decide to buy some. But anyway, let me let me show you this. Okay, so here’s where I marked another base right another base where there was a big support, and I marked another base down here at the bottom indicating support. And so, you can see I kind of went through and I did this for all the stocks that are USD tether for now right, and I did this on a couple different exchanges. And I did this this morning at about 8 o’clock in the morning, and I did this through all these ones. And so, what I did for ripple is, I was just waiting right. Marked my bases you can see my other bases that I marked. Marked another one right here, and I just marked that one because this is the new base right. Marked another one right here, marked another one right here. Anytime there’s a big jump or surge in price I mark a base. So, in this case this was my base right. So, let me get a little marker here, this was my base this morning. That’s the base that I marked, and I saw you know yesterday, or two days ago there was a big spike, I marked that base. What happens today you know the price goes up then the price starts slowly-slowly trickling down. And I look at this and I think okay, this could be an opportunity to buy. So, I kind of you know keep watching it, watching it, watching and watching it. And it does it finally cracks the base right here, it finally cracks it. So, all of this territory is buy. And I got down a little bit lower, then right below the base. Could have got down a little bit lower but that’s okay. I’m happy with the result, and once it cracked I bought it. And then I just waited then it was a waiting game right. So, then I waited, and it was going up and up and up and up. You know I was trying to decide where to sell it. Typically, I wait you know I wait after I’d buy it. I wait five-minute increments I switch it from one hour to five minutes, because then I could kind of see more specifically what’s actually happening. And then I look at the data over here see what’s actually happening as well. What volume of trades are being made, and then I determine you know when I’m going to sell. I try to sell as close to the top as possible, but you never know you know this could keep going up. And you want to cash out at some point, but I chose to cash you know at a pretty good position right. I didn’t get all the way to the top all the way to the tops like 255. I did see it around there, and I was about to sell then, I waited probably five minutes too long. Anyways, so anyway that’s how I did that with XRP with Ripple. I just did this you know 20 minutes ago. I just wanted to show you this. To show you guys how I’m picking faces. How I’m actually you know finding these you know good buys. I’ll keep doing this, I’ll keep making videos like this to train you guys, or to teach you guys. If you guys are interested, have any questions around bases, how to select bases you know, around reaction trading based trading. And I’m really happy to answer that as well. But until then this is really what I wanted to show you. So, let me know again I will post this on [inaudible, 07:24] and I will post this on steam it. And we’ll go from there hope you enjoy?
