Topic: BitcoinCrystalballTrader - Bitcoin Trading Predictive Analytics (Read 8810 times)

I've stood up for you guys several times in the past, defending you against scamming accusation. So I hope you will take into account now if I say the following:

Ditch Mtgox.

I asked you to include price analysis of other exchanges before already, and your answer always was "mtgox is the main exchange still". You were wrong back then, but, oh boy, are you wrong with that assessment now.

As long as your analysis is based on the warped numbers of an illiquid, dying exchange, I will have to ignore them.


EDIT: to be clear, I'm not going back on what I previously said: your service is honest and worked quite okay in the past. but your reliance on mtgox data makes it useless to me, unfortunately.

hmmm ok, I'll check it out.   Are all the slots still full?

Ignore the clowns (like wobber). Nothing scammy about this service. Their newsletter is well done, the only complaint I have is that they tend to send a lot of signals, so the expected trading strategy is somewhat different from what I prefer (few, but large trades). Anyway, I never regretted subscribing, because it is still useful information even if I don't act on most of their signals (but I do use them as confirmation for my own trading choices).

Haven't seen any talk about this in the past few days...is this still being used by trusted members on this forum?  How effective has it been for you?

On uptrend "market forecasters" and "TA analysts" appear like mushrooms after rain.

And they get lots of sheepfollowers

Ignore this guy.

Been subscribed a few weeks now, it's completely legit, and the staff are very friendly people to deal with. The service is good also.

Really?

If you would have taken the 5 minutes to actually read this thread and some of the replies by forum members that tested it, you would have noticed their newsletter/subscription service is very much *not* a scam.

I'm happily (mostly) subscribed for about a month now -- regular updates, competent TA, very friendly and quick responses to all questions I had.

In my experiences, well worth the price.

WOW this scam is still going... EVERYONE THIS IS A SCAM READ THE THREAD TO MAKE SURE YOU DON'T LOSE MONEY.

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     WITH THE TREND EXAMPLE
===============================

To follow-up, here is an example trade that is going with the trend. The idea of a trend trade (although less exciting than counter-trend trades) is to latch onto the trend of a higher timeframe. So you use the smaller timeframe as a zoomed-in approach to fine-tune your entry, and take less risk.

But the profit motive is BIG. The objective is to catch the bigger wave of movement and then ride the larger wave.

In the example below, you can see that everything is in the green. So although this signal fired quite a while ago, you are still in it, riding the profits.

With a trend-trade you want to then manage your trade with a gentle hand. You want to let the trade breathe a little, managing the trade pivot by pivot. As bitcoin keeps pushing new highs, and doesn't pull back so far as to take out a prior low, you can let it breathe and continue to push upwards.

As the trend extends into higher and higher time-frames, you can just let that single trade turn into an "investment" for a longer hold.

Then look for another low-risk opportunity to get more bitcoin, and ride it upwards into an investment (longer term trade).

SO WHY WOULD ANYONE WANT TO COUNTERTREND TRADE?
It seems silly to trade against the trend, or to scalp trades when bitcoin is stuck in a congested price range. But there is an advantage to countertrend/scalp trading. The advantage is accumulation of bitcoin, piece-by-piece.

If you started with 1 bitcoin (for example), and only took scalping trades, you would only be making between $50-$100 per trade. But 10-20 successful trades later, you have basically doubled your account and now have 2 bitcoin. So you accumulated another bitcoin, bit-by-bit (no pun intended, well, intended a little.)

===================================
       COUNTER-TREND TRADE EXAMPLE
===================================

I've been getting lots of questions on whether to trade against trend, and what does that mean.

So here's an example of what countertrend trading means from a technical perspective.

In the example below, the signal to SELL or SHORT was issued. When you look at the At-A-Glance, you can see that the two higher timeframes above you are LONG (going against you).

Does this mean you can't trade against the overhead timeframes?

You can trade against them, you just have to be aware that this is a countertrend trade, and you don't expect it to go far. So this would be considered a scalp trade (quick profit).

So in this example (below), you could have made about $10-$25 profit taking a quick profit. There are lots of traders who like to countertrend trade. They do this because they know that profit-taking always steps in to push prices temporarily back down, and that gives a countertrend trader their profit.

You just have to be aware that with countertrend trades, you have to be on your toes.

@outofservice (cool name by the way) - I was using this forum as support for our subscribers. Sorry for the confusion. I was referring to an update that went out to them. After an email goes out, I sometimes add additional follow-up information here (instead of re-emailing everyone). Again, my apologies, I will try to be more clear in the future.

cj

This is for anyone,

I am new to trading and have gotten into this on my own so please don't shoot me for asking, I am trying to learn/teach myself.
I have done fairly well trading though.

Which is the upper trendline?
Is there a title/name for each line and bar (Green, black, white, red)?
Can you tell me how to read this chart?

What does it mean, "Traingle went out"?
What does a triangle represent/show?

Thanks

Triangle update has gone out. I might take a long position if the triangle triggers long. I'm going to tempt fate and fade the retreat back to the upper trendline (with a small position of course).

Controlling my risk ; )

cj

This is the long trade I just took (those one I mentioned in the email). Mostly I got lucky, I happened to be sitting in front of my computer when this alert triggered. It corresponded with the trendline break, so I took it.

The previous trade didn't work out. Broke through the lower pivot off my entry (pivots as mentioned in the getting started guide), by the time I got to it, I was -$20. Oh well, hence adding in the price alerting system : )

As an example of a smaller trade, joining a larger trend (which can be done using the 15M Chart), I went long recently at 985 from the 1 Hour Reversal Signal.

I entered this trade with the expectation of joining the 4 Hour Trend. So now that I'm in, and it immediately went my way sufficiently for me to relax a little. With a little profit under my belt, I going to let this trade breathe a little.



Expecting to latch onto this trend.



I'll tell you how the trade progresses.

cj

15 Minute alerts have been added to the system. If anyone wants more frequent signals, they can be added to your account. Also, this weekend, more advanced Investment Style signals will also be added. So if you are interested in those as well, please tell us in the zendesk system.

: )

cj

It looks like bitcoin is still struggling. There are a few scenarios where bitcoin could recover today or during the weekend. If any of them play out, you will get Private Messages through the Alert System. So keep an eye out.

: )

cj

There is a special list for our traders. We push urgent updates and warnings to them. We sometimes use this forum thread, but for sensitive information, we use that private mailing list. It's separate from the signals that are sent out.

cj

what do you mean by getting on the list? I thought you said you had no more space available.