Signal boosters for Serpil updated
As requested by many users and as promised we have now enabled TTP NFT boosters on Serpil which means that if you are a holder of 1 or more NFTs you are entitled to a boost in how many bots you can run using the Serpil signal.
Which signals are you using? let someone in our team which signals you would like us to increase the allowances. We always listen to your requests!
And one more thing, remember that you can check your active boosters from now in self service.
New chart added using Smart Money Concepts from LuxAlgo
If you are into manual trading I strongly encourage you to focus on learning “price action” and use TA indicators only for confirmation. Price action covers concepts that smart money and institutional trades use for finding the best entries and exists in the market. In my opinion nothing beats price action. It helps you prevent the typical tunnel vision you get from only using a few indicators that can only see what’s going on from 100 meters away from what’s really happening.
Most of the people in the channel are interested in automating strategies. Bots and indicators. My self included. But it doesn’t hurt to learn a bit and confirm how powerful it is.
Price action is not trivial to learn and will take a lot of practice to learn. But luckily there are indicators on TradingView that for free can shorten the learning curve for you. There are indicators that cover:
- Fair value gaps
- Order blocks
- Break of structure, equal highs/lows, past day, week and month HL etc
- Premium and discount zones
The list of those concepts goes much longer than that and each individual one will take you 2 minutes to understand the theory and 3 months to master their practical use in a a profitable and sustainable way.
I truly recommend copying the following chart I use with a recently introduced indicator from Lux Algo called “Smart Money Concepts”. This indicator will do the hard work of plotting for you all these concepts in a single chart using a single indicator.
It’s got 99% of the concepts covered and it can be used in any timeframe. So far I haven’t seen any repainting (but keep an eye, it might still do!).
I’m currently using it for once a day manual trading together with other indicators:
- Monthly CPR – to know the most likely targets for the current month
- Market Cipher, Hive – to learn about early reversals
- RSI – to know the strength of the current momentum
Yesterday I longed at 15.9K and shorted at 18K with 25X. On spot it made 4% and on Futures I closed it a bit too early as I wanted to go to sleep without an SL in my mind 🙂
Risk Savage signal tests
I’m going to start testing a setup using the script we released yesterday called Risk Savage.
I optimised it for BTCUSDTPERP on Binance where it’s offering around 0.32% daily for 1x. A net profit of over 70% with only 7% drawdown. Doing longs and shorts.
I’m going to test it with 25x so with 4 USD the bot will trade with 100 USD. Based on the backtests it would have made 71 USD and have a max drawdown of 7 USD. It’s important to understand these calculations, imagine if you invest 4K, you could go down up to 7K for drawdown, down 3K in a single deal, or up 8K in a single deal. And then end up with 71K. This is obviously past backtesting performance, not even real money performance. That’s why we need to try it with a very small amount and monitor how close it follows the backtest data from the TV chart.
Is it possible to try risk savage signal with the bots?
Yes, you can try them out using the signal names SAVAGEL and SAVAGES and BAQL. L stands for for long and S for short.
Long bot name: BTC Risk Savage LONG BAQL:SIG:SAVAGEL
Short bot name: BTC Risk Savage SHORT BAQL:SIG:SAVAGES
Allowance is available from Observer tier.
Meter signal
Many of you have been asking when are we going to send this signal to other exchanges apart from Binance. Bybit should already be working since the pairs are exactly the same as in Binance so it should work out of the box. I don’t have a Bybit account at the moment so if one of you could confirm this would be great!
For obvious reasons we won’t be supporting FTX.
Performance of Meter in the past week.
With 4.8 USD total invested in all bots it has made 3.14 USD. Most of the bots started 7 days ago except for the CHR one that has running since 3 weeks ago.
4K a month setup memories
During the early days of The Trading Parrot I published a video with what I believed was the best setup to run to make 4K a month. 40 days ago I decided to copy them from my video and run them on paper trading. Interestingly they were in big red during the recent dump in prices but today they seem to be pretty fine and they have done almost 10%. Have a look!
Meter not working on bybit unfortunately 🙁