<div class="bbWrapper"><b>So which coin am I going to base most of my trades on?</b><br />
<br />
LTC/USD<br />
<br />
Why? I've always like LTC, even way before the recent LitePay announcement and have made many trades with it in the past. I'm no expert in it, but I like the "stability" it has compared to other coins and a few other things you will see in a minute.<br />
<br />
Plus call me odd, but I like owning the whole coin instead of dealing with fractions of a coin. Yeah weird I know but I just like dealing with whole numbers than .00005678 of a coin and the math involved when figuring out shit on the fly without my calculator ( I still do shit old school at times ).<br />
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<b>So how did I come up to LTC in the first place over others.<br />
</b><br />
I made a spreadsheet<br />
<br />
I'm going to share it with you, but if this gets abused or shared outside the forum, I will take this thing down and it will never go back up.<br />
<br />
<a href="https://docs.google.com/spreadsheets/d/1jBzJFVnlYqes0LfDPgwP-QzCNj3T-eDVChVA26rStj0/edit#gid=0" target="_blank" class="link link--external" rel="nofollow ugc noopener">CryptoMine</a><br />
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( BTW if you open this and see errors, thats on the API's end.. not this sheet. There is nothing I can do about that. Try to refresh the page in 5 minutes and it should all load )<br />
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Important thing to note, you WILL have to scroll to the far right and also scroll down to see everything.<br />
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You won't understand it, but I made it for me so here goes what each section is:<br />
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1. Top - Last 30 days data, per day, from an API that ends up showing me in red averages for the 30 day data. I use this for "recent historical" analysis<br />
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2. Far right scroll - Last 30 days data, but the difference in high and low for each day.<br />
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3. Last 720 5-minute events. Basically same averages as the last 30 days data above, but for the last 720 5-minute events. I use this for really "recent" analysis.<br />
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So while you only see one tab here, this sheet actually had many more. 1 tab per coin I was looking at.<br />
<br />
I looked over all the coins and narrowed it down to about 5, then to 1 which was LTC.<br />
<br />
<b>So why was this important?<br />
</b><br />
Since I am holding very short term, sometimes just hours.. I wanted to know the intraday high and low averages and which coins had enough "spread" ( or volatility ) for me to make a good return. Good return in "per coin" trade.<br />
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<br />
The 30-day spread between daily high and low is 28.755<br />
14-day is 31<br />
7-day is 22<br />
3-day is 27<br />
<br />
I know I can't realistically hit the all-time low and all-time high each day. It's impossible.<br />
<br />
But maybe I can catch the 80% marks, right?<br />
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Thats where I came in with 3 Day 80% / 2 because that's the 3 day average spread, at 80% divided by 2 ( so I can find a midway point ).<br />
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I know I could easily now make $11 per coin if I find the bottom(s) for the day and set my automatic sell at $11 maybe.<br />
<br />
But I'm gonna go even safer and set it at a $5 sell.<br />
<br />
So if I can find a real bottom(s) for the day, I know there will be likely a $27-$31 gain to the top maybe in the next 24 hours based on averaged data.<br />
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But again, this is averaged. It's not 100% data daily.<br />
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This why I try for 80% of that.<br />
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This is also why I divide by 2, because I might not wake up until noon and if I see a high price on my charts at 8am for $205, but at noon we are at $201.. I know I am nowhere near a "possible" bottom because we have only moved $4 on those 2 time frames.<br />
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I need to be watching if we cross below $194, or if we are above $216.<br />
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Why? cause that's $11 of the 8am high so far and $11 is half of $22 which is 80% of the 27 3-day average.<br />
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I'm not even going to look at the charts again ( I wait for an alert on my phone or desktop ) until LTC hits $194 or $216 because at $201 it's just moving sideways from $205 and it might do that for hours and days.<br />
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So I picked LTC because of it's spread potential.<br />
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I also picked it because I could get back into USD VERY easily and not mess with BTC ups and downs.<br />
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I also like owning the whole coin. Remember, I am starting out at a beginners level on this thread/account to show the potential to others.<br />
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Right now, that account has $1,245 in it so I could hold ETH too, but I like having multiple whole LTC.<br />
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<b><br />
My exit plan<br />
</b><br />
So lets say I'm down to $196 now on that LTC price.<br />
<br />
I could buy in there, or maybe I wait for lower ( I'll show you more on this in a bit ). But lets say I buy at $196.<br />
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I set my exit up easily.<br />
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As soon as I buy, I set a sell for $201.<br />
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Sure it could go down to $185 and I wait. But it could spike to $201 within the hour or 2 and I've sold capturing $5 per coin. Remember, this coin has an average ( 30, 14, 7, 3 ) that hovers around the $27 dollar mark so it could go below $196 from $205 to $185 easily.<br />
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This isn't for me to show you what I would do in a trade, I'm merely showing you my "automatic" exit plan on all trades.<br />
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How I find my bottom for the day is another story though. This was just showing you the exit setup at a default and automatic $X or %.<br />
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I'll show you more on my bottom finding later....</div>
