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Tom Demark Indicator in Trading - the power of 9
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Hi all
I just got approval for posting so here is my first post in this thread :-)
This may have been mentioned before but I did a quick search in this forum and didn't find it so here goes -
In trading there is a neat indicator developed by a guy called Tom DeMark. Basically at the close of any price period you compare the closing price with where it was 4 periods ago. If it is higher you give it a green number and if it is lower you give it a red number. Tom DeMark found at there is a greater than average probability that each uptrend or downtrend will reach exhaustion when it has formed 9 such numbers in a row. So if it has an uptrend for 9 periods then there is usually a pullback, and similarly if the price has been going down for 9 periods. This doesn't always work out, and it tends to have greater success if you piggy-back the time frames so that the '9' on a lower timeframe is also happening on the '9' of a larger timeframe. But nonetheless an interesting demonstration of the manner that 9 is the number that brings cycles to an end.
Top Comment:
Very interesting observation. The number 9 has some very special properties.
1+9=10 1+0=1
2+9=11 1+1=2
3+9= 12 1+2=3
and so on.
What it means that 9 always takes you back to the original starting point.
In addition: if you add up 1+2+3+4+5+6+7+9=45. 4+5=9!
For more information on the importance of the number 9 have a look at the website of a friend of mine Gert Kramer: http://dragon9.eu He has some very interesting stuff there.
FTX still in free fall. Now trading in the $9 range.
Main Post: FTX still in free fall. Now trading in the $9 range.
Top Comment:
My technical analysis says there's a very strong support level at $0.00
bannerlord (1.9) trading "average price"? : mountandblade
Main Post: bannerlord (1.9) trading "average price"? : mountandblade
Top 9 Best AI Cryptocurrency Trading Bots (December 2024)
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There are a few key challenges to crypto trading. For one, markets are open 24/7, so it is necessary for traders to constantly monitor the charts if they don’t want to miss a trade. This is one of the key reasons why AI-powered cryptocurrency trading bots have become popular over the years.
AI trading bots achieve a higher level of performance and do not require the user to spend a lot of time studying different strategies and parameters. And they are a great option for those looking to get into cryptocurrency trading, as they allow non-professional traders to take advantage of profitable strategies.
Due to its popularity, there has been a surge in the market for AI-powered cryptocurrency trading bots.
Here is a look at some of the best AI crypto trading bots:
1. 3Commas
3Commas is a crypto investment platform that offers manual and automated trading strategies. Advanced trading tools allow users to manage their assets across 16 major crypto exchanges from one interface. Best of all, 3Commas helps traders make profits by offering trading strategies suitable for bearish, bullish, and sideways markets.
Automated Trading Bots:
- Bot presets allow beginners to use the same positions as experienced traders
- Smart trading terminals allow traders to set up trades in advance
- DCA, Grid and Futures robots execute trading strategies at scale, operating under almost any contingency.
- Use DCA Short bots to borrow and sell tokens at the current price and buy them back at a lower price
- Use DCA Long bots to buy the natural dips and sell the spikes as the price rises over time, achieving a better average entry price for your positions
- Use Grid bots to pick up cheaper tokens when they reach support levels and sell them when they are close to resistance levels.
- SmartTrade and Terminal allow you to configure your trades in an advanced way based on triggers you specify.
- Integrate signals into your bot and automatically copy trades from professional traders.
2. Pionex
Pionex is a trading platform that allows users to use multiple types of bots. Some of these bots include:
Grid Trading Bot – This allows you to trade crypto within a specific range using the built-in auto-trading bots, which help you buy low and sell high automatically 24/7. All you need to do is specify your trading range.
DCA Bot (Dollar Cost Averaging) – This is also known as Martingale Bot, it is developed and designed with the core idea of traditional Martingale strategy, which is a ladder buying strategy, selling everything at once. And it will use more funds to buy for every dip to significantly reduce the average holding cost.
Rebalancing Bot – If you are bullish on multiple coins at the same time and are willing to hold coins for a long time to see value appreciation, you can choose to use the rebalancing bot.
Other features include:
- Pionex provides 16 free trading bots and allows up to 100x leverage.
- The trading fee is low compared to most major exchanges. The trading fee is 0.05% for both maker and taker.
- Connect any TradingView strategy with Pionex Signal Bot.
- Integrate ChatGPT into PionexGPT and help retail investors program their strategies without any coding experience.
The best part about Pionex is that you don’t need to use API to connect to third-party exchanges, all transactions are done within the platform. There are also many other types of bots that you can choose from.
3. Arbitrage Scanner
ArbitrageScanner.io allows traders to capitalize on price disparities between exchanges without the need to hold tokens beforehand. Get notified 24/7 about price differences across crypto exchanges
Arbitrage trading, as this strategy is known, revolves around a simple concept: buying a coin on one exchange where its price is lower and quickly transferring it to another exchange where it fetches a higher rate. Upon arrival at the second exchange, traders can sell the coin and earn a profit from the price discrepancy. This approach takes advantage of market inefficiencies and provides opportunities for traders to make profits without significant risks.
ArbitrageScanner ensures the safety of users’ funds. It does not interact with their money or connect to exchange balances via API. Moreover, users are not required to link their wallets. The tool works manually and operates securely in the cloud. The advantage of this is that users do not need to worry about their account being hacked or the platform taking over their funds.
Here are some of the key benefits of ArbitrageScanner:
- Supports over 75 DEXs and CEXs (international, local in each country)
- Manual bot without API request, so that all your capital is safe
- Free training and dozens of case studies included with bot purchase.
- Access to a closed community where members share market knowledge.
- Personal mentor when you pay for the Expert plan, who will customize the turnkey bot and answer all your questions.
4. Intellectia
Intellectia is an innovative fintech platform designed specifically for cryptocurrency investors, leveraging the power of AI to provide cutting-edge insights into the fast-paced cryptocurrency market. Launched in early 2023, the platform aims to democratize access to advanced financial analysis, making sophisticated tools available to both novice and experienced traders. Intellectia offers daily cryptocurrency trend ratings, comprehensive technical analysis, and fast insights into major crypto events, ensuring investors stay ahead of market movements.
The platform brings together a wide range of financial data, including news, research, and social media signals from leading influencers, all powered by AI to deliver timely and actionable insights. With support for over 100 cryptocurrencies, Intellectia provides detailed analysis that helps users navigate the complexities of the cryptocurrency market with confidence.
Intellectia’s AI-powered tools are designed to simplify the investment process, offering instant, expert-level analysis and personalized recommendations. The platform’s mission is to make financial intelligence accessible to all cryptocurrency investors, ensuring they have the tools necessary to make informed decisions in an ever-evolving market.
Here are some of the Key Features of Intellectia:
- AI-powered cryptocurrency analysis with daily trend ratings and comprehensive technical insights.
- Real-time updates on major crypto events, ensuring investors stay informed.
- Aggregates financial data from multiple sources, including news and social media signals from top influencers.
- Support for over 100 cryptocurrencies, offering detailed and practical analysis.
- Provides cryptocurrency investors with accessible, expert-level AI-powered tools.
5. CryptoHopper
Next up as one of the best AI crypto trading bots is Cryptohopper, which is an AI-powered crypto trading bot that helps you save time by automating your trading. The multipurpose platform combines its hub, copy service, social trading, and an investment portfolio management service features to offer a wide range of services.
The terminal operates with major cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. In total, it supports up to 75 cryptocurrencies and nine major exchanges, such as Binance, Coinbase Pro, Kraken, Bitfinex, Cryptopia, Huobi, and Poloneix. One of the best features of CryptoHopper is that it allows free trading bots, allowing you to create and test your own bots.
The platform's semi-automatic trading bot allows traders to get rid of human tendencies and emotions, which improves the trading process. Instead, it relies on trading algorithms based on programmed trading techniques and approaches.
CryptoHopper provides a wide range of trading tools that have features like bot backtesting, saveable templates, trailing stops, and customizable indicators. The platform is a web-based solution that features an intuitive and user-friendly interface. You can set the trading bot to trade automatically 24/7 as well as utilize algorithmic and social trading.
The platform also offers excellent customer support, with a support team that can help with any issues that may arise. Good customer support is one of the most important aspects of any cryptocurrency trading bot.
Here are some of the main benefits of CryptoHopper:
- Wide range of tools
- Intuitive interface
- Support for major exchanges/cryptocurrencies
- Customer Service
6. Bit gap
Another great option for an AI-powered crypto trading bot is Bitsgap, which offers crypto trading bots, algorithmic orders, portfolio management, and free demo mode all in one place. One of Bitsgap’s main selling points is that it allows you to connect all of your exchanges in one place. This has many great benefits, such as allowing you to easily execute strategies and deploy advanced bots simultaneously across all platforms.
By bringing everything together in one place, you can compare rates from multiple digital currency markets, trade and switch between exchanges, track your investments, and test strategies through a demo account.
Bitsgap is integrated with 30 different exchanges, including major ones like Binance, Kraken, and Bitfinex. On top of that, it offers access to over 10,000 cryptocurrency trading pairs and several technical indicators to help you set up your strategies. The intuitive interface makes automated trading possible for both beginners and professionals.
One of the unique features of the Bitsgap trading bot is that it ensures that your investments are distributed proportionally within the chosen range, allowing you to make small and frequent profits on every market movement. Orders are executed and new orders are placed when the price reaches the desired range.
Here are some of the main benefits of Bitsgap:
- Bitsgap Demo Account
- Integration with 30 different exchanges
- Over 10,000+ cryptocurrency trading pairs
- Proportional distribution of investments
7. Octobot
Launched in 2018 with over 20,000 users, Octobot offers automated trading strategies for cryptocurrency investors. The platform allows users to develop and train their own AI with the Octobot script.
Some of the existing bots you can use:
Smart DCA: Octobot also offers a range of trading robots, including a Smart DCA (Dollar Cost Averaging) robot, a popular investment strategy where you buy on a regular basis to profit from daily price drops. It allows investors to reduce their overall buying costs.
Custom Bots: Of course, advanced users will want to create their own custom bots and the Octobot script allows for this functionality.
ChatGPT Bot – The platform also offers the opportunity to leverage ChatGPT intelligence for trading.
- Trade automatically based solely on ChatGPT predictions
- Operate by combining ChatGPT predictions with other evaluators
- Get ChatGPT's view of the market at any time from the web interface and market status and receive notifications about any changes.
8. TradeSanta
Another great platform for AI-powered cryptocurrency trading is TradeSanta, which is a cryptocurrency trading software and bot that helps users navigate the cryptocurrency market and take advantage of fluctuations in value.
Like other major platforms, TradeSanta allows you to trade 24/7, and setup is quick and easy. All you have to do is create an account, choose your trading pairs, and set up the trading robot in a matter of minutes.
TradeSanta is especially useful for beginners and casual traders. It does not require any complicated actions to succeed with the bot mechanics. The bots are based on long and short strategies, and are guided by complex algorithms.
One of the other advantages of TradeSanta is that it has no strict limits on trading volume, meaning you can buy and sell large amounts of cryptocurrencies without major price spikes or drops.
Here are some of the key benefits of TradeSanta:
- 24/7 Commerce
- Quick and easy setup
- Useful for beginners/casual traders
- No heavy limits on volume
9. Crypto Hero
CryptoHero, an AI-powered cross-platform crypto bot, was created by experienced fund managers who have been involved in crypto trading and other markets for decades. The platform offers access to hundreds of cryptocurrencies, which continues to expand as it partners with more companies, and is integrated with major cryptocurrency exchanges such as Binance and Kraken.
Start by setting up your trading parameters and once completed, AI-optimized bots run simulations and provide insights into the best opportunities in the market. It allows you to set entry and exit conditions as well as different types of indicators to check trends and stay up to date.
One of the other key features that the platform offers is backtesting, where you can test a trading strategy that you are not 100% sure about. You will use your strategy in different market conditions to improve your decisions.
Here are some of the main benefits of CryptoHero:
- Created by experienced fund managers
- Hundreds of Cryptocurrencies
- Entry and Exit Conditions
- Backtesting
Summary
AI-powered cryptocurrency trading robots offer a significant advantage by automating trading and providing insights based on key technical indicators, making them invaluable tools for both novice and experienced traders. They address the challenges posed by the 24/7 nature of the cryptocurrency markets, allowing traders to take advantage of opportunities without constant monitoring.
These bots not only improve performance but also democratize access to profitable trading strategies, allowing non-professional traders to participate effectively. With a variety of bots available, each offering unique features and capabilities, traders can choose the one that best suits their needs and preferences.
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Top Comment: There are a few key challenges to crypto trading. For one, markets are open 24/7, so it is necessary for traders to constantly monitor the charts if...
Binance to Delist 9 BUSD Margin Trading Pairs in September, Here’s Why
Main Post: Binance to Delist 9 BUSD Margin Trading Pairs in September, Here’s Why
Top Comment: 1.1M subscribers in the btc community. When r/Bitcoin moderators began censoring content and banning users they disagreed with, r/btc became a...
SP500 Futures Trading Plan for 9/8/23
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I share my plan for educational purposes and discussion and it is not intended for use as trade recommendations or ideas.
Recap: There was quite a bit of action early on today before entering into a narrow, choppy range, and I found the trading session difficult. The first trade I took today did not come from the plan or any technical analysis, but rather the gap. I took this trade for a small scalp using my gap strategy and exited on the gap close. I should have just stopped there. Once the gap was closed, the market swiftly sold off to the overnight lows, triggering a short trade for me. This saw no follow through at all and as I cautioned premarket, chasing lower after a large selloff is high risk, so I quickly exited.
The market then rallied almost 20 points in 10 minutes right off of support at 4439 and this triggered a long trade for me from this part of the plan: “I would only want to trade to the long side if the market were to break down below [4447] first and then recover 4449.” I entered with this confirmation and was able to secure some partial profits from this, but again, no follow-through as the market entered extremely choppy conditions. I moved my stops to breakeven as I was no longer interested in a position but figured I would at least give it a chance. Around 11:30 AM EST, there was a minor move up and I just exited one contract and let the remaining one get stopped out at breakeven. This did a little to recover my morning loss and I ended my day there in the red.
Balance/Trend: Today provided a bit of relief for bulls after a >110-point selloff from Friday’s highs where bulls tried to recover the 2023 trend. Bears have been able to retrace a sizable part of last week’s breakout from the bull flag and are in control of the market. You can see in the charts how this all played out in typical market cycle fashion: trend leg (up), balance, trend leg (down). The market is establishing something of a consolidation phase in one of the two low volume areas from last week from 4457-69 and needs to get back above 4475 to start to rebuild the case for a bullish trend leg up. Otherwise, the market may well remain in the flag structure.
Analysis: In the plan for today I wrote that 4447 is “an important hold for bulls,” and they were able to hold it after letting the market trade through it several times. If bulls are really going to get back on track, they will need to continue to stay above that level to attempt to clear the black flag highs (which I have slightly re-angled to fit better) at 4485, then move above 4490. Unless they are able to do this, bears remain in near term control of the market.
Levels & Detailed Trading Plan
- Potential support: 4447, 4440, 4406, 4411-15, 4381-83, 4372, 4354
- Potential resistance: 4475, 4483-85, 4490-95, 4502, 4508, 4529, 4542
Top Comment: I share my plan for educational purposes and discussion and it is not intended for use as trade recommendations or ideas. Recap: There was quite a...