Update: 08-07-2017

Have put some longer term positions on the coins, which are performing mediocre - and I don't really feel confident with them. But it's all about the exposure and can build from that.

Continues to be the case that the setup I made all the money on isn't behaving - so happy to not even try and take that setup. There have been a couple, but have only worked when they are picture perfect - so would be a lot of scanning and patience for not too much. Arguably the risk that I force trading on not so perfect setups.

So anyway have contributed 0.1BTC to Bitmex, which allows 100x leverage on bitcoin, and reasonable leverage on others. It is set-up like a futures exchange.
Think this sort of trading will suit me well going forward. That being said, I will keep an eye on the alt coin market.

I have yet to completely decide on a strategy that I wish to pursue. I want it to be short term oriented, while at the same time allowing for pyramiding to max size; which is something that requires at least a week+ time-frame.

So here is what I have so far:

Trend System:
(1) While BTC is above the 9EMA bids should be in place for dips.
(2) Stop on entire position is roughly the 9EMA on daily. Unless there a clear spot for the stop.
(3) Stay in bull mode, until the 9EMA crosses the 27EMA. Then it's time to stop scalping on the long side.
(4) Keep a reasonable amount of position for big move, and then strict management system for the greedy move. (More on this below).
(5) When BTC is in consolidation move, i.e. not cleanly above the 9EMA but still no crossing the 27EMA look to be more aggressive on taking profits; and a different methodology will apply.

Trade Management for Trend System:
(1) Divide position into 6 lots. Scale bids on the 6 lots all the way down to the 9EMA, with the last one being 2x the size of the others.
(2) Keep 2/6s for new highs. With half of that being sold when price is 10% above the 9EMA. The other half is kept for the massive 25% move above the 9EMA; which does happen. But most of the time this half will be stopped out at the trailing 9EMA.
(3) The other 4/6s will have offers put out the moment they are filled. 1/6 at recent highs, 1/6 roughly halfway to recent highs; and that aggressive add right before the stop is to be sold on first pop from being filled; which should be around a 40% retracement from the high.

For now I will make each lot 1000 contracts because I want to be aggressive with the smaller account; and cause I'm not entirely sure what each contract represents. But as account grows, and understanding improves I will change this.

Side note: I'm not looking to be super active, unless there is big volatility; so this system works great for that.

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