Topic: Just moved half of my funds off Bitstamp back into nice safe and warm Bank Konto - page 5. (Read 6782 times)

im actually considering we gonna see a 2011 bear market if we dont go up soon enough

1 day. It takes one day for me to shift funds from my EUR bank account back onto Bitstamp. But I doubt I will be in much of a hurry when I do put a decent amount of cash back on the exchange.



How much did you make from the precious metals run up? Did you buy in early 2000's, or didn't you have the balls?

Me? I never had neither the cash or the investment mentality in the early 2000s. By 2010, I still lacked the investment mentality, but I did have the capital and I certainly bought into all the Silver Stacker and Gold Bug hype and fairy stories with big bad central banker arch villians n shit. Because I bought into all the flawed paradigms in much the same way as Bitcoin Nutter does, I failed to take profits at the top of the PMs markets, or even recognise that the tops were in and it was gonna be a long and painfully slow bearish consolidation period for the next 3 years.

Actually, it only in the last 3 months that I have began to learn how to think like an investor and my education has been frantically jumping onboard a parabolic Bitcoin juggernaut and actually making a good bit of money without having the slightest fucking clue about what I was doing or even how to read the simplest of chart indicators, and then listening to my gut instincts and jumping off with 90% profits still intact before this sucker went down. Any fool can make money in an expanding market. In a retracting market, by its very definition, most people lose money, so simply breaking even in a declining market means that someone is doing better than your average Joe. And actually, I continued to make money, although knowhere near as much as during the bull run.

In my limited experience, being a good trader is as much about having good instinct as anything else. Anyone can draw any set of lines on any given financial chart and start making bullish/bearish cases left right and centre. It is the instinct of the individual that sorts out the grain from the chaff. I have discovered that my instinct towards Bitcoin has generally served me very well, even if my reasoning and logic often has not. I have been bearish pretty much since the eve of the big tumble down, with little bullish stints here n there in between. My most recent bullish sentiments occurred right in aftermath of $400 crash. I knew I was bullish but my logic told me that surely there needed to be a retest of the lows, but it never did come to pass, yet. So one whale came to market and panic bought the market up to $710. In the $600 ranging aftermath of that, I remained 'bullish' in theory but with a creeping sense of doubt which has grown to represent my current Bitcoin instinctive sentiment. Holding Bitcoin long, from here into the medium term is for me, simply going to be a high risk means of slowly losing purchasing power. Leveraged long/short trading of Bitcoin is also out of the question in a stagnant market, with any significant movement likely to be coming from exchange insiders looking to squeeze out margin traders' USD into their pockets, as we have arguably witnessed over the past week or so.

Bitcoin for now, is a must leave asset class and failing some sort of isolated economic crisis that has a certain proportion of the victim populace rushing into Bitcoin in order to shift funds around, is likely to remain so for some time yet, at least as far as Bitcoin time frames are concerned.

+1

Bitcoin is really looking weak ATM, across the board (MAs, Volume, Indicators, Downtrend still not broken).

So it seems likely, that Mat´s call regarding BTC/USD is correct.

But maybe putting some of your USD into Litecoin could be worth a second thought...

Day trading is day trading, making long term predictions is another pair of sleeves. ANd Matt screams one, then other each 5 minutes.

In fact, he, I can't be more humble than this, just lacks the balls, his are like peanuts and he'd rather not lose 100$ than make 5 000$. That's why he barely made any money from Bitcoin despite being around when it was at single digits, you really need to be a Special One (and I don't mean Mourinho type Special One) to manage that. And he is very, very frustrated about it, I can understand that though

I thought Scots are bit harder than this, damn Brave Heart

Someone got paid Friday and is waiting for his money to get to his exchange account.


For someone who knows anything about Bitcoin to think that the bank is the safest place for his money shows how serious he actually is.

And don't forget to declare all that money you just dumped into your bank account on your taxes.

This is day trading at it's best and completely fine. It's all about make huge profits.

Mat I am Bullish on Mondays, Bearish on Tuesday The Cat

*LOL* Afraid?

How long does it take to buy back? Hm?

I'd be afraid of the scammers and fraudsters.

@MatTheCat
+1

Is it "Buy low, sell high"? That's always worked well for me.

on this forum I've seen way too many people making bearish arguments for technical reasons alone. One constant in my experience has been that although these people are often correct, in the long term they lose when news about the fundamentals comes out and breaks their little Fibonacci patterns. we have the etf, SecondMarket, circle, and other large developments in the pipeline and I would be afraid to be completely in fiat.

You are going to simply have to prove that to me. Such a dramatic event will be etched in your mind so you should be able to tell us exactly when that happened and at what price range right out of the top of your head. I can only think of one time when I found myself sitting so blatantly on the wrong side of the trade basically due to being butt-hurt after losing my nerve on bounce from $380 and back then, (dec 19th), I never even knew what a MACD was, so I highly doubt that I would be offering up any TA.......so chances are, you are simply lying for dramatic effect?



Yeah....I change my mind all the time and reserve the right to always to do so. When I change it again no doubt I shall sound off on this forum. But my OP expresses my sentiment at the time being, a sentiment that has been building up for several days and a sentiment that I suspect is widespread and growing.

I have tended to 'shout' my opinions around the place because anyone suggesting that Bitcoin may go down is generally laughed out the forum. I am very new to watching any kind of market and early adopters, who really really should know better, laughed at me for selling after double top but whilst still in $1000 range. Can I really be blamed for getting a bit shouty and overbearing with the standard retard that inhabits this forum and is very much in the vocal majority, who have been yelling 'BUY N HODL' at new Bitcoin investors all the way down from $1200. My teeth are grinding already!

Don't listen to him, listen to me. I do have in my possession a pretty reliable TA. It involves a single step and when you finish counting to 10, you'll be richer.

His coinage of the term "Age of the Jew" did it for me.

the last time I listened to MatTheCat's TA, i sold half my btc holdings and the price went up $100 about 30 mins later. After it went up, he essentially said "oops, nevermind."

Thanks Mat, keep up the good work.

To be fair, he was one of the relatively few dissenting voices during the ~800 "stability" phase that warned (and I'm using the word "warn" loosely here -- more like "shouted without interrupt") that we'll go down further. Probably got quite a few ignores for that, undeservedly so.

The other theme being his unrelenting and highly transparent book talking.

Spot on.

Also, "in the not so distant future" will probably be around late April/early May, so I also think Mat didn't pick the smartest moment to withdraw all funds. But let's see, if there's one consistent theme to his posts it's that he changes his opinions pretty quickly (nothing wrong with that, btw. better than being permanently stuck in either bull or bear mode, imo)

I took a significant portion of my BTC play money off the exchanges as well. Used it instead to speculate on hot stocks (shorting them mainly) and it has been more productive than waiting for bitcoin to come out of this triangle of doom and low volatility.

I realy don't like that type of people like OP. When the price will start to grow, they will be moaning and trying everything to crash price back because they made wrong decision again and didn't bought up enough bitcoins. When people will start to think some more and grow up eventually.