If you've read my last three posts or so, you'd have noticed that I keep mentioning my "market scanner".

Well, in this post, I'll tell you how I created it, what it searches for and how many wins Vs losses I have through it this month.

Interested? Let's go!

Ok. So first off, here's how I created the scanner.

To set the record straight, I didn't code anything myself. I hired someone off of fiverr and paid him $250 to code me a market scanner. The scanner scans the Binance market for trading setups. How I determine my setups would be explained soon.

Once it finds a setup, it sends me an alert through WhatsApp. I set up a special notification sound specifically for the alerts, so I know when they've arrived.

Once I hear the sound, I open my Binance app instantly and take the trade. Then I wait for a few hours and bag my profits(or one out of twenty times, my losses)

Ok. That's how the scanner works. So how did I determine my set ups?

Simple. I made use of the following tools:

• Bollinger Bands with Standard deviation of 1
• Bollinger bands with standard deviation of 2
• RSI scanning the previous 14 candles.
• 5 period EMA.

Based off of the readings which I will list below, I set the scanner to alert me. The readings are as follows:

• The price must be between the 1 standard deviation band's bottom line and the 2 standard deviation band's bottom line. I don't take wicks as valid entries. Only full bodies.
• The RSI must have started moving upward towards 50.
• The price must be above the 5 period EMA 

This is a very specific set of rules, and because of it's specific nature, I hardly get more than 1 trade a day.

I'm a position trader, so when I do get that one trade, I end up holding it for about 2 days before taking my profits at pre determined points.

The profits are usually in the order of 18-25% of my initial investment, and by my rules, I don't hold any coin for more than 7 days.

"But how are you guaranteed of your profit percentage margins?"

Simple. I set my scanner to only send alerts for coins that make these kinds of moves regularly. So there is a high tendency that they will make a 20% move in 3 days. I usually stop taking profits at a maximum of 30%, and while I have seen many coins go all the way up to 90%, I still never felt bad, because I made my target profits.

So that's all about how I make my scanners! Do you use scanners? Let me know down below.