First of all I wanna thank CryptoShadow to give me this opportunity to share some thoughts,setups and trading ideas with his community.
So the first topic I picked is a scalp system because of the current market conditions where it is really not easy to trade Alts.
What I recognized is , that we need to adjust in all these different circumstances.
We saw that if BTC pumped Alts/BTC pairs dumped. When BTC was flat and ranging for a while the BTC pairs recovered. So I choose Bitmex to trade the BTC pairs( with very small money compared to my main trading account on Binance).
Here is why I took ADAM19.
I saw that this pair was trading at a 0.5-1.5% premium to the Binance ADA/BTC pair in times where the market wasn't too volatility.
When BTC dumped the premium was almost gone, when BTC was ranging the ADA/BTC pair recovered and the premium was growing again.
And I decided to take advantage of these BTC pumps to catch some good entrys on ADAM19 and scalped them.
Here are the metrics of the scalp system:
1. Wait for a BTC pump and watch ADA dropping till it forms a bullish divergence
(I took the 1h timeframe)
2. When BTC slows down ( ranging or a retracement) it is time to buy in
3. Watching parallel the ADA/BTC Binance pair also as a reference
I saw that my strength is, to see when something is about to pump or dump, because I had so many hours screentime stalking the market in 2018 and scalping(what I learned from Shadow).
I hope you guys enjoy this post.
The next one will be about a bad trade I made and my weakness and how to improve :-)