Topic: Lose all your capital fast, with MatTheCat and his TA 101A! - page 24. (Read 85774 times)

lol.

stupid cunt.

Yeah, free coins are nice. Bought back in just now.

-1 for TA signals.
+1 for gut instinct.

As I stated above....TA signals suggested bullish resolution.....gut instinct suggested serious dumpage. Because however TA signals were in my view bullish, I couldn't bring myself to take the short trade, due to the ease with which 'they' would be able to stop me out, before dumping this piece of shit. Instead, they just set it up bullishly, waited to see if there were any takers, there weren't, so Kaboom!

That's all that needs to be said.

They are way past the point of no return and cannot give in to the dreaded deflation due to the amount of debt in the system.

Every option they take creates an imbalance somewhere and builds pressure somewhere else. And, as signalled by the market reaction to Kuroda's push negative in January, central banker actions are beginning to have the opposite effect (Yen strengthened, elsewhere US savings rate uptrend).

Agreed that in a deflationary panic everything initially declines bar cash, but bitcoin and gold won't be bad places to be in the meantime due to above observations. More QE is on the way.

At the moment money is flocking to UST as it still has a positive return compared to Eu / JPN. It's also moving into gold for safety and non-negative yield / weakening currency play.

FWIW....practically all the TA indicators that I look at are suggesting that BTC will resolve this corkscrewing bullishly at the moment.....but I just don't buy it. Just had a massive pump on relatively weaker volume, perhaps because the miners have been witholding BTC from the market, and now have big stashes in need of conversion into USD/CNY? Every n00b and his dog right now, are sitting long in BTC, in full knowledge that the Halving Event is just 48 hours away, after which , Bitcoin will *obviously* pump to over $1K, or whatever......but......that is not how markets work. Buy the rumour, sell the news.....I can't take a short here, cos my setup parameters are all saying long, but my gut tells me to keep well away from Bitcoin here.....übel und gefährlich.....I suspect a nasty ride ahead, with a high probability of a snidey head fake.

btw....here is an uptodate account of the utter train wreck you are placing all your hope and dreams in:

http://www.bloomberg.com/news/articles/2016-07-06/after-4-400-surge-bitcoin-s-fate-hinges-on-huge-chinese-miners

In case you haven't noticed, those are just code words to hide the fact that Mat doesn't actually do TA (i.e. predicting where the market will go, not where you want it to go).  Every Mat chart is him scheming up some absurd outlier number that can never be attained that he wants to take out a long at.  I want to see a Mat silver chart.  I think it will be something like "This is where I will take out my long, when silver returns to traditional 25 cent parity represented by the quarter".

When you start to use terms like rainbow crosses, it might be worth taking a step back to reexamine your life.

No.

I tried to short BTC on the test of the long term resistance line, back at $435. It was the very first post on this thread. I had gotten confident in using range trading tools to trade reversals in ranging market.....but it just so happened that I was shorting against a strong trend. A very strong trend as it turned out. Back then I tended not to really look at things like MAs. I have since learned my lesson.

Fwiw, MAs are at the moment, are lookling decidedly undecided as to where next for BTC:


The LTF MAs shown in the chart below, are mostly pushing back up against their recent bearish rainbow crosses. Only the 5min MAs have crossed bullishly, but ideally, if this trend was going to continue upwards, then all of these MAs on the lower time frames (LTFs), would be consolidating, in a post bullish cross state.




I reckon the market will continue to corkscrew, until sometime around the Halving, by which point some of those $40 million leveraged longs on BFX alone ($5M below ATH established last month on that exchnage), are going to want to start tip toeing out of their positions. But of course, what starts as a tip toe, can soon pick up pace to a brisk walk, and then to a stampede.


The Bitcoin whales aren't here to make you or anyone else rich. They are here to enrich themselves at your, and everyone else's expense. Of course, there are still vast profits to be made in this game, if one is able to both read their game, and have the nerve, confidence, and prescience, to strike when the iron is hot. Can you read their games? Or are you just a retard holder who is on the verge if witnessing dazzling profits being wiped out very very quickly? I have been there and done it all before with BTC. No point in riding the bull like a pro, only to knocked out like a stupid prick when the bear comes into the ring.

You guys are pulling a MatTheMat about gold and don't understand TA is inherently reverse looking.  It gives you trading ranges assuming externalities are constant.  Mat pulled his "Bitcoin can't go above $400 because the chart isn't bullish enough".  I told him those cost of production fundamentals vastly dwarf anything the chart is doing, but he wanted to trade the chart instead of fundamentals.  There's no reason the price of gold can't go to 2011 levels right now seeing as the real world fundamentals that favor gold are probably even better now than back then.  Lately it seems like Bitcoin goes up immediately after metals move too.

The only thing that can really stop Bitcoin or gold is deflation.  Without central banker intervention, deflation would occur and drive down the price of everything.  This is why some people don't want to buy either metals or Bitcoin and stay in cash.  The problem with that thought is, if the central bankers actually allow deflation to occur, the entire system collapses.  If they let the system collapse, Bitcoin and metals win.  If create wheelbarrow hyperinflation, Bitcoin and metals win also.

Interesting to see the USD & Gold rising together, not in line with current thinking ["shouldnt be doing this"] ie USD up, Gold down.

I'd say it is a fear trade both ways. Flee to USD / UST and out of sovereign EU bonds, flee to Gold due to uncertainty.

IMF sees continued low inflation unless USD depreciates.

It is quite a bit different than the last cross...  That one was a gentle rise out of a stable period.  This is a hard bounce after a hard fall.  Gold is still in consolidation.  It could go quite a bit higher in the short term, but it is not ready for a real long term rally.

That's the entire point, to get rid of the Jewish criminals at the Federal Reserve and IRS.  We're aware you're a banking shill who's frightened your fractional reserve & IRS empire is crumbling, but that's not our problem, that's your problem.  Did I mention good luck with your millions of dollars in Ethereum losses?  Or I guess that would be a billion when it goes to zero?

Fuck Bitcoin, here is a chart that I fucking love:





And if all the time and energy I have put into fucking around with Bitcoin has taught me one thing, it is that at some point, it is wise to expect the totally fucking unexpected. Gold shouldn't be doing this. 'Deflation' is upon us. But the fact that gold is doing this, may suggest that the global financial system is heading towards a shitstorm of fear. When capital fears equities, and no longer trusts governments, only one place left to go.


From a 'traders perspective', gold is an absolute horrible trade right now however. Entering now would be total FOMO market chasing.....mind u, I remember thinking that about Bitcoin as it broke $580 last month.

well, well, well ... this thread has taken a dark turn, it used to all be so much sweet and light fun ... the darkside has for sure infested these walls now, too bad they feel the need to haunt bitcoin at all but at least they have been banished from places that matter ... enjoy the shitfest with your new friends here Mat.

Too early to say for sure at the moment, but if Bitcoin dumps, support is a damn long way down and strong support, is even further down.






Supporting the bearish thesis, is the sheer volume of margin long positions open at the moment. Everyone expects that they will just be able to sit in their margin longs and simply cash at some whale pumpers expense, during the 'inevitable' Halving Pump. Well, 'everyone' is the majority, and the majority are always wrong. If they weren't, Smart Money wouldn't get paid, and Smart Money always gets paid.

Some are, some aren't. I'm sure you can find some good people an reddit and zerohedge too. What's your point?

Stormfronters are good people.

While consumption tax works just fine with fiat (that's what sales tax is), consumption tax is not income tax. Which is what you would file tax returns for if you actually made any money, and what the grownups at IRS deal with when they come to work.
Since Common Body of Tax Law is somewhat more complicated than collecting flat consumption tax, replacing IRS with tx fees makes as much sense as replacing our transport infrastructure with a pogo stick.
I'm trying to use small words you may actually understand.

While sounding smart to idiots, that actually makes zero sense.
1.Any closed-loop system is recursive, pretty much by definition. A system without recursion, i.e. one in which the input state is fully independent of its output state, is called an open-loop system.
2. PoS coins are less centralized than Bitcoin, which is mined by a handful of guys in China.
Now, what were you trying to say? This time, say it in words you actually understand.