Not sure if this has been covered in the forum before but I’m wondering if we’ll ever see a cryptocurrency database in the data downloader?
I have a small amount invested in crypto which has done exceedingly well, through luck only! Would like to develop a more systematic approach in BeyondCharts.
I have to admit to looking at the Crypto opportunity however it does look frightening with trends being quite volatile. An example is BTC which appears to have a volatility of approx. 20% but if you caught it when it was at its 3 month ago level you would do very well. There are other crypto opportunities whic require lower investments such as “Dash Eur” which appear to track BTC but the asking price is much less than BTC.
I am not sure how its management profile compares to our regular stock market but it would be interesting to identify if there is any collation.
With it becoming a popular investment with its characteristics of almost untraceable as an investment and its non dependence on exchange rates your returns can be applied to purchases anywhere in the world.
There are more organisations offering Crypto services and advice therefore I believe there is an opportunity to consider crypto but to see a downloaded data base as sometime the future. Data is available but I am not sure where you get it from.
It would be a good add on to Beyond charts if the analysis is simple or similar to the current market it maybe worth a go.
Thanks Stuart, yes, extreme volatility with some cryptos due to speculation. Im thinking some sort of mean reversion strategy to catch the large ups and downs could be successful. Given time to design a system and back test etc. However for now im just after a sensible exit strategy based on some tried and true indicators… cheers.
You mention you’ve traded/invested a small amount in crypto which has done ‘exceedingly well’. Curious to know what broker/platform/crypto instruments you’ve been trading.
I too have been trading crypto. Initially I traded it applying Con’s 4hrly system (re: The Trading Game) via IG CFDs with GSLOs (BTC, ETH and their Crypto 10 Index) until they ran out!
In response, I set up a CMC CFD acc. Unfortunately they don’t offer GSLOs and don’t trade crypto on the w/e, so are prone to w/e gaps, so I recently opened up a Binance acc and have started taking positions, but not very systematically - would like to improve this aspect. Am position sizing using a 3.75 ATR multiple and follow with a lag using Binance’s TradingView SuperTrend (10/3.75).
Am keen to hear from others in this space, esp. those willing to share/learn.
I’ve just taken a simple buy and hold strategy using the Coinspot exchange. This seems a good option for trading crypto directly here in Australia. I am currently holding btc, ada, eth, xrp, xlm and neo. I haven’t got any smarts around position sizing but largest holdings are btc and ada. I had a couple of small holdings in some of the minor cryptos a few years ago which went to nothing - it does happen!
Essentially, now I’m learning more about trading, I’m looking for a more systematic approach and a sensible exit strategy - since I’ve watched these coins go up by many multiples but also drop significantly. There is currently a strong bull market and the next challenge is to not give back too much profit.
Keen also hear other experiences.
Thanks for the reply Oliver.
Recently I’ve had time to explore a few different brokers/interfaces, both in my existing equities/CFD trading - SWS & the Trading Game, but also in the crypto space (w/Binance), so I might have a play in coinspot.
Looks/sounds like you’re into some good runners there. Perhaps applying an ATR trailing stop system might be the go if you want to apply an objective method to protecting your profits.
I’m currently using a 3.75xATR trailing stop system (w/ a lag) in a 4hrly system I trade for Indices/FX/Commods. I applied that to BTC from USD 10k and banked a few a good trades, but missed the first ALTs pump.
PM me if you want to have a bit more of a chat @email@example.com
Thanks Dave, great! Have PM’d you. Cheers
Hi Dave and Oliver,
I’ve also just started trying to become more knowledgeable in the crypto space. I’ve opened an account with Independent Reserve for more of a long term, hodl outlook, but will be using Binance for a bit of trading (if I can get my account verified - they’re awfully slow). Busy doing a course on trading crypto through which I’m learning more about technical analysis.
Like you guys, I’d also like to try incorporate what I’ve learnt through SWS with what I’m learning on crypto. The best database for crypto’s with very similar charts to what we’re used to in Beyond Charts is Tradingview.
I’ll PM you Dave and see if we can arrange a group chat regarding this.
Glad to hear you are learning about technical analysis applied specifically to cryptos. Are you doing it all through tradingview? I’ve had a bit of a play in there and it looks comprehensive… and free! Ideally it would be good to design strategies and back test though. Not sure if you can do that with tradingview?
Happy to set-up a group chat sometime soon!
Hi guys, I am also interested in investing in cryptos. I want to use the technical indicators that we have learnt to pick the future trends. I would like to be part of the chat group. cheers Rose
Hi Rose, PM me @ firstname.lastname@example.org and I’ll send you through a Skype invite.
All others welcome as well.
That sound really interesting. I have also been dabbling in the crypto space with some technical indicators like EMA9/20 cross overs, RSI and MACD. I agree that most of the exchanges provide quite sophisticated technical charts. It will be great to discuss different strategies so that we can benefit from this space. I will be very happy to be part of the group chat.
IT would bei nice to have crypto currency in SPA investor system as I’m holding long term and riding a bucking horse.