How Eric Juta Uses Ichimoku, Heikin Ashi, and TrendMaster Indicators to Trade Crypto — Set Social Trader Spotlight
Welcome to the Set Social Trader Spotlight Series. In these posts, we’ll give you an insight into the launch traders that are part of the Set Social Trading platform. Learn more about Social Trading here.
Today, we’ve got an interview with Eric Juta for all of you to enjoy.
Hi Eric, nice to have you. Can you give us an intro of yourself?
Hi and thanks for having me, stoked to be here!
Really glad overall that the Set team’s created such a fun product, with the launch inbound!
So I read the Bitcoin white paper in 2012, as I’m sure many others have, during university but it literally took me five years following that to switch into the blockchain industry.
Prior to blockchain, I’ve been coding in the music, fashion, and social impact industries most notably brands like Shazam, Topshop, Topman, and Ivy Park.
Been trading spot and future derivatives since 2017, ended up searching blockchain in my email during the infamous Altcoin season, found an email from ConsenSys and ended up joining a week later to work on Kauri and Bounties Network!
I’ve been studying all styles of trading for a while — it never really ends! I’ve found two reliable systems so far that suit me — those being EMA with “Ichimoku and Heikin Ashi” and “Ichimoku and Renko”.
Currently looking into the “orderflow and price action” strategies but that’s even more personal and discrete than the previous two mentioned.
There’s really no right or wrong in trading, that’s the beauty of it!
That’s great. I saw you’re offering the 12H Ichimoku HA EMA Breakout Set on TokenSets that seems to use the strategy you just mentioned. Can you go into more detail about how your Set’s strategy works?
There is nothing that I am doing that is different from the resource mentioned above.
Here is what I take into consideration when following this strategy:
- 12 Hour timeframe, Heikin Ashi candles, Bitmex ETHUSD ticker (Price follows volume and derivatives are a beautiful asset)
- 9 offset High and Low EMAs creating a cloud
- Break up above cloud, creates a signal candle
- Use the Ichimoku Cloud to find confluence deciding whether the signal candle is strong or not; “do we take it”?
- Are we fading the trend, or are we starting a new trend or has the trend ended?
- Taking the high of that signal candle sometime in the future, we rebalance into ETH with position sizing calculated by candle range and 1R:1% portfolio
- Use William Fractals candle lows for stop loss as the trend generally breaks or rebalance back into USDC on a red signal candle
We care about catching major trends through the year (hence the 12 hour timeframe), conserving capital with correct position sizing and making sure we do not over-trade.
Can you talk about how this strategy has performed historically?
Being upfront here, this depends on the asset and market type.
Here are the back-tested range results for ETHUSD but I do recommend taking this with a grain of salt.
I’m going to give a range rather than absolutes as I believe that there are no absolutes in trading, especially in crypto. The reason for ranges is due to discreteness in stop loss and entries regarding fractals, strength of signal and seasonality.
- ~700 days i.e. 2018, 2019, (two very different market types)
- ~40–55% success rate
- ~70–90 trades
- ~18%-300% profit (As I said, the upper range varies)
- ~0.62 Average R
- ~17–56 R
- ~200–300 hour average trade duration
Anything else you’d like to tell us or your potential followers?
I’ve spent lots of Bitcoin trying to find systems that worked for me, the fact you can copy trade by buying this Set is just awesome.
You won’t get filthy rich from buying it but it’ll (hopefully) offer greater returns than lending rates!
You can follow me on Twitter here.
We hope you enjoyed reading this interview! Eric will be one of our premiere traders when Set Social Trading goes live in the next few weeks. If you’d like to be notified when Eric’s Set goes live, head here to sign up!