Topic: Lose all your capital fast, with MatTheCat and his TA 101A! (Read 85765 times)

Sorry, just had to necrotroll a little

Day trading against sharks is a good way to get devoured.

Blimey. For the first time ever you do sound happy.

I think full time infestation in crypto is pretty bad for anyone's well being. It's a cesspit of paranoia, misdirection, schadenfreude, regret and dishonesty.

Some people thrive off it, others are feasted on. That's why I've barely ever traded. Far too much stress and fuckery.

One year of crypto trading on mescaline could be a very interesting odyssey.

I am out of Bitcoin because both Kraken and then Bitfinex robbed me with impunity, within the the space of 1 month. That was the final straw for me, and it still is.

I then sold a bunch of shitcoins, at a loss, not because it was a good time to sell, but I quickly needed as much crypto as possible to buy a big pile of mescaline with after gammagoblin, the only vendor of quality mescaline on the whole darknet, stated that he was stopping selling it (which he did), was on his last batch, and only had a small amount left. Had I not cashed out of those shitcoins, then $1000 worth of worthless code could have been traded out at it's collective maxim for around $35K....had ones which went up *100 from what I paid for them.

I still watch the Bitcoin market and share my observations with a friend, who does take swing trades, and is continually taking money out of the market. I impress myself with my readings of Bitcoin and other markets which move a lot slower than Bitcoin, but where essentially the same rules apply, yet somehow, fate has decided that trading financial markets just isn't for me, as demonstrated by the various ways in which I somehow always manage to get my nose rubbed in the dirt, one way or the other........still, learned a lot from Bitcoin, for a time long after Bitcoin has went up in a puff of smoke n vapour, and the current global financial system is on the brink of finally realising what true wealth is, I shall know not to anything silly with my gold, but patiently sit back and wait until that time where swapping it out for other forms of more 'useful' wealth, is too hard to resist.

Arse has fallen out of the offshore oil exploration industry, I am now working a more conventional Mon-Fri onshore job, now have a child, and no longer have piles of surplus cash to spunk away on crypto currencies and in all honesty, I am much happier this way. Everyone has their own karmic resonance that will reward them when they are doing things that they should be doing, but taunt and mock them when they are doing things that they shouldnt be doing.......guess I don't have enough Jew blood in me to thrive being a professional parasite.........

.......enjoy your new found wealth, just be sure to take more than enough out, so you dont find yourself dangling from a rope when the Bitcoin smoke machine gets turned off, for good, which it almost certainly will.

Ohhhh MAAAYAATTT!

Remember that one time at band camp when you bought a bitcoin for $800 in 2013, then bitched about it for a few years and sold at a loss?

Two things Mat:

EDIT: because of unfunnyness ...

1. hope you are doing fine.

2. Cheers

Never heard of Gann, think I would prefer to project Fibonacci levels based off of 2013 could be valid guidance possibly.     Seems we might be drawing similar trends based on the higher lows over the last few months.  Smaller bounces would match a constricting range coming to a head I guess

Here is a FIAT market trader who has taken an interest in ETH and BTC charts for a while now.   Roughly I agree with their conclusions: https://twitter.com/NicTrades/status/881560174414233602

They have projected $3200 and $465 should we see a breakout upwards.   I'd imagine its not that easy and we see a false start to any rally.   The recent downtrend I have is only for June, its not big enough pressure to see a 50% gain is it.   I would guess we live in fear of round numbers and have to dance with 3000 first.

If I presume China is the reason we are at these levels and looking for negative action but a positive support level;  I see a downside target at end of May prices roughly, if falling to that level and confirming it as a bottom I still believe that fits into an overall positive story for bitcoin blockchain progress however the news and protocol consensus is proceeding at that time.

Looking at bifenex, its positive, above an old downtrend.  ceiling to beat at 2489 and 2600 is a 24hr target and that'd be very positive as its already appearing to beat a negative trend.   All that is shorter term then the charts linked above

The last bounce looked very low energy like it's run out of forward momentum at this point (bitfinex price):

Don't under estimate the power of Gann. That is a weekly chart, and what looked as though was going to be an exhaustion candle, actually closed as just another continuation candle. Target is now $3600:



If Bitcoin does break out above $2930, then in terms of Gann, it will be a repeat of 2013, but one scale up.




I find the Gann is a very powerful tool as a kind of market roadmap. Not very good for taking trade setups though. Other tools got to be used for that.

Maybe Gann-arcs are not very relevant to bitcoin and/or the stage of bitcoin is in. This fact alone van can be deduced from the line representing "reasonable growth"; it tells us that we should be at 2600 ... in 2026.

OOOOHHHHH MAAATTTT !?!?!

*crickets and wind*

Yeah. Had I taken that trade, I would have gotten stopped out and would be left chasing the market (although to be fair, I touted the setup as a profit taking signal, not a shorting signal). But unlike my previous trade setup which nobody seemed to mind about since it was a bullish setup, I was wrong.

So erm, well done to all those who rode the bull up to the top.....providing you can even get any of your Bitcoins turned into actual worthless fiat (ya know, the stuff you need to pay your bills, mortgage and stuff), or your Bitcoins haven't been sitting in the blockchain all week waiting on their first confirmation, or the exchange hasn't just emptied your account claiming that your computer been hacked.

After Bitcoin re-popped through its previous ATH of 2013, I had to draw a new BTC Gann Square. I intended on posting a chart in here, showing $2300 as a likely upside top out targe, but couldnt be arsed due to work demands and limited free time. Turns out that this target was overshot by some $460, but for those that understand Gann, the principle remains intact. Now I aint saying nothing and have no skin in the game either, but according to Gann, Bitcoin needs to retest untested Gann Arc down at around $1300.

Never state absolutes, none of us know exactly whats going to happen.  Its always probabilities, any good trader has a conditions and marks to sell out on the scenario he expected not performing to schedule.  Not sure Iam that trader who is that disciplined but I believe its done that way as markets are always so random.

The Huobi price is kinda of awesome in so precisely marking the previous high with this recent brief sell from a post $2000 peak.  Thats good to see for anyone wanting confirmation and higher prices, its only one test though.
I'll do the silly thing and draw in a trend on the 15m chart, slower rise but seems to fit decently and see if the lows can maintain this general appreciation.
Ideal would be to draw a channel but I dont see a clone lines and it's probably not that neat or will be that neat anyhow.  The best trends are drawn with crayons :p

Stop making fun of Mat, he enjoys it! Losing all his coins and all potential earnings and then keep coming back to see others grow their capitals x4 by doing nothing - must be of a very masochistic nature

Ohhhh MATT!!!!

Where's that massive correction from $1600 you were on about !?!?!?!

Hello??? Matt??

*crickets*

When Bitcoin starts breaking ATH's of 3 years ago you can be quite confident that the price is going to continue to go up. $1300 was already an ATH and we were consolidating there after a quick and solid recovery from a big dump to $890, so a much better buying entry you were not going to get from a technical viewpoint. But each trader looks at charts differently and we all get it wrong sometimes. No such thing as certainty and risk free trading or investing.

I think that whoever bought at that price took a big risk and more than being smart they were lucky, at the time that was close or the all time high and we had no confirmation bitcoin will still go up, so the danger comes from the fact that whoever bought at that price gets greedy and don’t cash out and materialize their profits because we know the price is going to crash.

Last chance to board 4 TPS coin at the bargain basement price of $1856 MatTheMat.

Mat would've bought drugs anyway. 

He needs the excuse of scammy exchanges in order to stay in the victim role. If he had just secured his coins in a cold wallet, he would not be able to play the tragic martyr.

Humans are not complicated. But they are sometimes sad and self-destructive.