Topic: It's almost 6AM in Beijing, China and looks like someone is trying to pump... (Read 2385 times)

There are tons of 'bright' ideas like simply making micro-trades and coming out it when the market goes $10 in your favour or something. However, as I have found, for every bright idea, there is can of psychological worms that gets opened up that the novice trader never bargained for. Unless a trader times his entry at absolute bottom and his exit at the absolute top, the market will always taunt and jeer at the trader, making him feel like a fool and filling his mind full of 'woulda shoulda couldas' that will ultimately lead to some very foolish and out of tune trading decisions being made.

I have just come through a little stint of holding off or indeed a reversing a trade when I should have stuck to my guns and then diving in out of sheer frustration chasing yesterdays missed opportunities when I really needed to stay the fuck out and just sit back and observe. If I had unlimited supplies of fiat then I may go on to learn lots about myself and about trading and may even grow into a very good trader. Problem is I have very limited supplies of funds and it is a case of 'how many bangs in the face can a fighter take, before he decides he just isn't very good at it'?

I am through with trading Bitcoin. Period. I may invest in the future, I may not. I shall never touch leverage in any investment ever again. Leverage is like an amplifier of all the psychological neuroses that leads to erratic, impulsive, and invariably bad trading decisions. With leverage, I have had some very big wins. But my leveraged losses are much greater, most of them small but numerous, some of them large, with my last and final one, being fucking enormous.

Gotcha. And that is a good piece of advice.

The reason I asked about orders not triggering in your own personal trading is this - you started out trading with roughly $20K USD, correct? That is in my opinion a good chunk to trade with.

I'm genuinely curious if you had ever considered making a larger number of "micro" trades on the swings (referring to going long), as opposed to holding out for longer periods, thus generating more risk.

But I suppose if orders don't get triggered, that's only really a viable strategy if one can sit in front of a computer 16 hours a day.

Wouldn't recommend setting a stop loss on Bitfinex.

a) U are just asking for it to get farmed against the grain of the market by exchange insiders and/or bots simply farming by guessing (my bet is on exchange insiders).

b) If it triggers, u are likely to find that most of your trade actually gets triggered at much higher rate than the Stop Loss that u set.

Trade with a mental stop loss where u decide that if the price breaks above a certain value, then plan to leave your position on next correction/spike depending on which way u are trading.

Mat, have you ever gotten screwed out of a stop-loss order on any of the exchanges?

Last time we had a chat was bitcoin not around 600 and was I not telling u it was going down? Try saving your smart cunt comments for when/if I am proven conclusively wrong. See ya when Bitcoin is down the 200s.

lovely, books to cure psych disorders !
I remember TA101.Also in vain.
Best advice for Readers of MatTheCat`s posts:before reading take some antiidiotic pills.It works

it is just manipulation with price, you can check at http://bitcoinity.org/markets,
Huobi and Bitstamp, for 5 days purchased over 500k bitcoins,
It is so funny, 500k bitcoins for 4 days, and after that for next 4 days purchased less 10k bitcoins.

It is BIG manipulation with prices, Just check and compare volume and time, it not real.

should of sold

is china awake?

frothy!

Compulsive addictive behaviour disorder.

I have asked my girlfriend to find me a pop psychology book on it.

If only the best part of you hadn't dribbled out your mother's arsehole as your father ran off without paying, you might not be such a prick. A fucking ignorant prick at that but ignorance is common amongst Americans so perhaps that is more a cultural thing. But realise of course, I am taking a very charitable view on that.

That is whining. And a pity party to boot. If you had only held onto those early coins instead of snorting them up. If you really have no interest, just go away? Why stick around?

I am'nt whining. I am stating my point of view. For the time being, I have no financial interest in Bitcoin, short or long. I don't care if Bitcoin smashes through $600, I don't care if it plummets back to $400 (cos I won't even be thinking about buying until $200 range). I am a shite trader but my general outlook on Bitcoin has been pretty good. I have no faith in this rise. I think it is all bullshit. Doesn't mean that some people won't get rich from it and many more won't ultimately be out of pocket cos they will, but this is my opinion.

And I don't have the same tools as everyone else. I can't move 1K+ BTC playing chips around on both sides of various exchanges walls, buying into one and selling into the other in order to create a false impression, and I certainly can't do what the Chinese exchange operators can do and simply simulate artificial trading algorithms. This is a cornered and corrupt market. I am not the same as a whale and I certainly am not the same as a whale with means of cheating/fooling the market.

Anyone who traded on gox after they trapped fiat deserve what they got. Obvious case is obvious.

And people are buying and selling. Those are the tools available. To all of us. Stop whining about it.

Yeah yeah....

I would have gotten the same response if I had said that MtGox volume was all fake a few months ago, which by definition of not having the coins that they said they did, it was.

As for evidence, Bobby Lee has said that Huobi and OKCoin volume is largely faked, which is sometimes why there are such huge price moves as large buyers/sellers think there are a certain number of coin at a certain price range only for their market orders to execute and find that they were sorely mistaken as the walls vanish in their faces.

Bitcoin is finished in China, but that doesn't mean that there aren't well connected and/or opportunists who won't seek to exploit the situation to the max in order to enrich themselves whilst they still have the opportunity to do so. In fact I will go further than that and state if you don't think this market is getting pumped and dumped through the medium of some rather nefarious means, then you are a fucking idiot. It is that simple.

a fake wall just got eaten on huobi. Looking great.

You are retarded mat. And yes to some of those, incidentally. (not the ones where yes or no makes no sense obviously)

Fucksake.....go and read some of zhangwheiu's post on Bitcoin in China. Since the Dec PBOC announcements, Bitcoin is very much a taboo matter for the 99%'ers.

There are many things in life for which evidence can never be provided and you just have to make your own mind up on what the nature of the general tendencies are:


Can you prove to me beyond all reasonable doubt that:

• The USofA is largely controlled by a cartel of banking families?
• That the EU/USA wasn't behind the recent riots in Ukraine which lead to overthrow of government?
• That Putin isn't behind the Russian seperatists in eastern Ukraine.
• That the Iraq war was really about oil and nothing to do with 'weapons of mass destruction', and that the intelligence agencies who delivered the dossier on Saddam's 'weapons' were lying, and the politicians knew it?
• That the missile defense bases being set up around Russia's border are intended towards threatening Russia, as opposed to defending the West from an 'Iranian Nuclear Threat'?

You can't prove any of the above as you have no evidence, yet I am sure that like me, you have a very different take on these matters from the official version of events, and for good reason.