How can I assess whether the buying or selling side is prevailing the market now?

10 000 question challengeCategory: Profits (trading, ICO, mining)How can I assess whether the buying or selling side is prevailing the market now?
HowToToken Team Staff asked 5 months ago
1 Answers
HowToToken Team Staff answered 5 months ago

Mr_Evil_Guy, a user of Reddit, posted a link to a very useful source called TurtleBC.
The TurtleBC system is inspired by Turtle Trading Strategy, however they use closing price here instead of the highest price which is used in the classic Turtle Trading Strategy.

The basic idea of Turtle Trading Strategy is to buy if a market exceeded the highest price for a particular number of preceding days, to sell when the price goes lower than the lowest low of the several previous days.

It resolves the Disposition effect problem, which relates to the tendency of investors to sell shares whose price has increased(miss big uptrend), while keeping assets that have dropped in value(hold the losers).

They help you capture every big trend and stay in it instead of selling too early or too late. You may lose money in some trades, but the trends will make you much more money in total.

Right now more than 90% of orders are “buy”-orders which is very positive for bulls. The signal is strong “buy”.

Source: https://www.turtlebc.com/tools/buy_percentage?period=2years

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