Poloniex operates like a bucket shop.
they look at the stop orders, they know where and how much they will be triggered.
Don't leave a stop order at Polo; set a price alarm and execute manually yourself.
That being said, it doesn't change the technical outlook for FCT is dire
Look at the weekly chart, its a textbook bearish divergence (RSI + volume). Usually i see retracement down to the 2D Lower Bollinger band value when the signal appeared , which is as low as 0.0015 !!!
i just hope TA is wrong, but i don't want to be playing knife-catching for sure right now
If you look back at Grossbits predictions he's sitting at around 80-95% miss rate. In other words he's most often wrong..... particularly with timing! I've come to the conclusion to look at his predictions as contrarian. I just bought a boat load yesterday in the knowledge this is a very very good entry point for investment for a 3-6 month time frame. Unless you're a full-time day trader (and that rules out 99% of people on this board) I'd completely ignore technicals and solely focus on fundamentals and sentiment. Right now we have fantastic fundamentals and terrible sentiment (hence the price drop) This sentiment will undoubtedly turn around as there is literally no fundamentals supporting it. So buy with confidence people it's a no brainer.
Very well said. I built a position at a higher level. I am very tempted to buy more now and lower my basis just because the opportunity to get in now is terrific. I'm just not willing to break my rules and so I'll just watch. For new people wanting a longer term investment in a truly unique crypto that is actually doing things now, this is a great entry point.
oh yeh
look at my reddit post, same nickname, posting since Dec2015. with plenty of good calls. called to exit when not to late in ETH just after TheDAO, called that ETH dump would signal BTC top as well, called the ETH bounce from 7 EUR well before it hit this price, went long FCT in July just as they closed their A-shares sale (bought some there as well). I also disclosed when it went up to 0.004 and above that i was still bullish but didn't recommend to buy at those prices, and also disclosed when i sold my FCT.
for example for my well timed sale, one day before the big dump:
https://www.reddit.com/r/factom/comments/552d1v/price_in_stress_mode/In recent weeks, called the dump on XMR from 0.021 and on NXT from 3100 sats. Follow me there and check my history, my miss rate is more like 10-15%... LOL....
Proof of my position on FCT:
http://hpics.li/fccc3a0I am trader with 20 years experience in a investment bank and i used to managed billions. Sorry guys, thats the game, its like poker. If I sit in a poker table with pros, i know I will lose, so i avoid playing poker. It takes time to learn trading properly. it takes time to learn poker as well. there's no easy get-rich scheme which isn't criminal. FCT or Factom is a risky investment. For those who still don't understand how markets work, i suggest buying and reading some books on Amazon and educate yourselves a minimum.
Otherwise, I think exactly the contrary that you do.
I think FCT has fantastic sentiment and terrible
fundamentals technicals. Everyone here and his dog is bullish in front of the evidence: the price was already in a downtrend since hitting the second time over 0.006, there was a downtrend channel, and things went loose when we broke the neckline 0.0047 which held for a week before the second push up to over 0.006. Thats where all recent leveraged longs put most of their buys on the way up, stops on the way down...
As for the fundamentals, i like Factom as a company, i'm already invested in it through the shares, i'm not changing my opinion on them. I think they have a very special proposition and a legit company. But like most startups they don't have any revenue now at all, they are burning cash at a high rate, and 90% of startups fail. I hope i picked one of the 10% remaining, and wish they grow into a multi billion usd company . But you don't build Rome in one day, and speculative shares don't go up straight x6 every 3 months. We're still up x3 from June. Unfortunately i see more short term downside potential and i am happy to sit away from the market for the time being.
Of course i may change my mind anytime, and if i FOMO back at 0.0045 or even higher, its not the first time i do such thing...
If you don't wanna listen to a pro advice, up to you... those who have been following me thank me regularly. Of course, i make mistakes and bad calls, and i also post about those and take my losses when they happen. Only bad traders (cause they never cut and hold down to 0) and Bernie Madoff have 100% success rate.
Props to you if you are executing your plan so precisely and the right times. I'm not a pro. My technical analysis is okay, but with FCT I think all we are saying is that long term there is good upside.
I don't get in and out of trades quickly like I used to. Due to lifestyle and risk tolerance I prefer longer term swings, and so if I'm at a loss for a while on paper that is okay. Different strokes for different folks.
Well said! 