Topic: Lose all your capital fast, with MatTheCat and his TA 101A! - page 23. (Read 85774 times)

That's what I do. My gains are small since I play it safe, but they will eventually count for ten times as much when the price eventually goes up.

You are full of shit r0ach.

I see absolutley no signs from you at all, that you are capable of reading markets so well, that you can sit and sell the highs and buy the lows consistently, like a pro.


Regarding metals.....it makes sense to me to hold physical metals, so yeah, I can take the poundings the market has given me over the past 5 years up unitl very recently, a bit easier. But holding Bitcoin? Urgghhhh...no thanks. Even more vaporous than the worthless fiat that it is traded for.

Bitcoin is Nothing, quite literally.

That's the problem, I played the ups and downs of the rise almost flawlessly at max leverage (up 2.7x Bitcoins - around 3.6x fiat equivalent) and I'm still demoralized from leaving money on the table for some of the post-rise swings.  The $20 moves that you don't take but know they're going to happen.  Or when you realize all the successful trades you made on the swings down only made it so you have the same amount of money you had when it was higher.

You have to be kind of a perfectionist in order to maximize gains, but nobody can actually do this every day and remain sane.  Running a bot or buy and hold (investing) is the only way to not be overstressed about it, because even if I win like 80% of my moves, you eventually take like three in and out trades in a row, and even if the spread is the same as you went in, the transaction fees alone make you want to stop trading.  I would imagine it's not physically possible for a MatTheMat to trade this market when I find it stressful looking at transaction fees, while every trade you make you're worried about losing 50%.

Everyone in the metals market lost their shirts and are just now regaining some of the losses, so Bitcoin is not really any different from anything else in regards to being worried about how much you're gonna lose.  The only way to trade this market (or metals) is for you to consider your wins and losses being in actual Bitcoins (or ounces of gold or silver) instead of fiat.

Bitcoin rising fast in Sterling, I see the currency as weak below a previous band of 1.34 to 1.44 declining trend over the last couple of years.      Looking for some recovery to that point or the establishment of a new trend perhaps but yep its broken out I think.
Keep hold of your bitcoin if you UK based is my current view as its a valuable hedge to imported costs especially.   This is where bitcoin actually gets pretty useful like that, its a valuable hedge global vs national for people in weaker economies or 'special situations'  Eu exit after 40 years is that 

Not sure we got any live graph for sterling bitcoin, is there any exchange active especially on that trading pair

Laughing at mat.

You are not a trader,so what are you doing in the speculation board?
if you dont have a lot of knowledge about trading and you only use someone's insight's you better stick you other investments,trading isn't for you then.

Ahah! Funny thing is that everything would probably make much more sense in our economy if it happened ^^

You are misquoting me, or thinking of someone else. I never said that I was going to go long at $620. $620 means fuck all to me, unless I believe Bitcoin is going to go much further up from that point.

$610 was the 61.8% retrace. Had I not been out all day, I may have taken a position on the retest and reversal of this area. As it stands, I shall need to wait for a further dip back down towards the bottom before even considering a long position. If Bitcoin keeps playing those 61.8% Fibonacci levels like it has been doing, then it would be perfectly reasonable to expect this to get up to $670 or so...basically the recent consolidation zone, where BTC got rejected....so, if I can get a good entry, I may go long from $620 (ish), with an upside target of around $670......but beyond that, I suspect that this thing is going to not only retest the $555 low, but breach it.....just my opinion....far too early to go calling that based on the charts, but the potential is most certainly there, and looks way more likely a prospect than the $790 high getting taken out.

What is "SSS plan"? Getting this:
90 Day SSS / The Body Coach
90 Day SSS Plan – Complete! | High Heels and Healthy Meals

And how does following a (diet?) plan bring you to a trading sub and allow you to lecture someone who is actually trading?

Following the SSS plan does not make one a trader. I am merely taking a bit of profit from my investment.

But you're giving trading advice, on a trading sub, and "have more coins [and] still way up in terms of fiat"?
How is the last possible without trading/magic/fibbing?

I am no trader. I bought at 400something on average. You make a lot of assumptions.

Nah. You clearly don't understand how this thing works. Right now, both your profits and losses are paper (assuming your money is on the exchange, in play, which is a relatively safe assumption -- you claim to be a trader).
You bought @~635 640, meaning you're down roughly 30 20 bucks per.

Of course, that's just me being a trusting rube and taking you at your word. Want to tell me how much you bought? Just so I can put some numbers to a name? You can lie, I don't mind, just like to play with numbers when I remind you about your future losses.

And let's keep this tidy, I realize you have other positions -- we'll just deal with this one, the coins you've deftly scored at ...what was the exact price at the time?
P.S. For ease of ref., current price is $601.31 618 on BFX[.
edit: my mistake, was watching BTC-e.

Doing great. I have more coins than I did and am still way up in terms of fiat.

^^ How's your position doin'?

Here is your 620. So are you all in now?

Whilst there is sense in what you are saying, I suspect there is someone else around here who is verging off the agnostic path, and allowing an emotional bias to influence their trading.

I notice that you are using bollinger bands. I also notice that just recently, a bullish weekly candle opened BEYOND the upper limit of the BBs. Last time that happened was Nov 2013. Sure, you say that 'some retracement is due', but the issue I have with that, is that 'retracement due', could take Bitcoin right back down into $400-$500, where Bitcoin could stay for weeks, without breaking the bullish bias of that WEEKLY chart.....erm...fuck that, quite frankly.

Whilst reading books is all well and good, nothing is as good as actually applying setups to real live markets. This is an art form, not a science, and aside from the acquiring the skill in recognising roughly what the market's intent is, there is also the skill in mastering your own emotions......I do quite poorly in that respect, and no amount of literature is going to teach me how to get my self-destruct, anti-success demons under control.....

......despite my poor performance when in trades, anxiety causing me to take profits early, or not sticking to plan and abandoning trades where I am taking heat too soon; one big difference about this pump, although I missed most of it, is that I am sufficiently up on my original capital. Last pump (Nov 2015), although I was long Bitcoin for most of it right the way to the top, I ended up losing money. This time around, I may not have struck when the iron was hot enough times, but I have also avoided any catastrophic mistakes (and I am very certain that plenty of the bullish trumpet players in here, that were all 'geniuses' on the way up, will be sitting nursing bloody noses that the market has proceeded to give them). I have been run over by none of the downside from $790 - $555. Last night, Bitcoin was trying to convince Joe Public, that the bullish break out was on, with Bitcoin testing $685 area, yet one sudden and abrupt bout of dumpage later, and here we are the very next day, down around $50 and credit to me, I never took the bait.

You know what you love gold chart ? Cause you make it so much more easier to understand than your bitcoin charts !!

First here you miss one key point of a trader, that is to be direction agnostic. You have a bearish bias that is killing your equity. As a trader, you have to go with trend, and trade them (or chase reversal, but still ultimatly to surf the trend).

You want a bullish view, take a look at that chart (don't look at the letters) :



isn't it fucking bullish ? But still, some retracement are due. That the way market works zig-zaging.

Mat I really think you are destroying your trading skills, went to quick on the war field without knowing how to handle a weapons, and because of your loss you start having some bias on your trading set-ups that makes it even worse.

here is a quote from you from market wizards (that I advice you to read), from one of our time's biggest trader William J. O'neil

"First-time speculators want to make a killing in the market. They want too much, too fast, without doing the necessary study and preparation or acquiring the essential methods and skills. They are looking for an easy way to make a quick buck without spending any time or effort really learning what they are doing. "

I'll probably won't read that thread anymore. your equity won't be destroyed cause it seems you use stops for everytrade, but those pirana bits here from all your losing trade and wining trade that you don't let ride will not help you surviving. I really advice you to put your head on fucking books for month, and save years of unfruitful trading.

When price consolidates into a corkscrew pattern, usually I look to the LTF (low time frame) MAs for the que on which way it is going to break. I didn't really like BTC long, for various reasons, but that isn't to say that 'they' couldn't pump BTC up to $720 or something before dumping the whore. LTFs were bullish. Indicator structure on the LTFS and the HTFs was bullish. The one thing that wasn't bullish, was the pending Halving Event, with every n00b and their dog sitting long BTC, waiting on the Fairy God Whales to pump Bitcoin up to $1K, just cos it's the Halving, whilst the Whales who put in the bottom between $300-$400, are still to take profits in earnest, after they triggered a rather momentous pump, into this event.

.....seems to me like they are doing so now, and will continue to do so on each bounce, all the way back down to levels which will make the likes of Ibian wail and cry, at which point they despair sell their BTC into whale koffers, as the whales work to put in supports for a new bottom, for the next round of 'wring the BTC market dry'.

-1 for TA signals on an extremly zoomed chart, you just told few hours before that that btc needed to correct cause it was at level too much above your favorite indicator, MA.

One advise here that you can apply, is using Elder way of coupling timeframe to trade. If you want to trade daily, first looks at the weekly chart to see what's the trend, here obviously up. That's when you enter your daily chart and wait for pull back to buy some more btc, using indicators or whatever system of your choice to determine "cheap" (for that you can go to the 4h chart). If you want to be extremely aggresive, you could short that uptrend, but god damn it, with btc, you better use some pretty tight stop (that would probably get hit, even if you were right).