Topic: Lose all your capital fast, with MatTheCat and his TA 101A! - page 26. (Read 85774 times)

Yes and No. Yes, that price would be fantastic but I'd have bought back long before then. I might buy more tho. And No, that's not where we stop.

See, the difference between you and me is that while we are both shit tier traders, at least I know it and therefore dance around my weaknesses and focus on my strength. My strength is that I can see where bitcoin is going long term, and your weakness is that you can't.

Crypto markets are a bit EASIER to trade imo.  Moves are more organic (albeit a bit more volatile) with fewer whipsaws, stop hunts, ect.  Machines and algos haven't overrun the crypto markets like they have the legacy markets... yet, but it's probably coming.  Anyway, buy-and-hold/dollar-cost-averaging has always been the real winner.  If you can't successfully trade bitcoin, then it is highly unlikely that you will successfully trade stocks.  Regulation doesn't matter.

But I am not interested in acquiring Bitcoin on calm days. I only want to be in Bitcoin, if I think/know that it is about to go shooting up a good bit. Hence, I am only looking to trade breaks or reversals...had I opted to do this on OKCoin Futures, I would have gotten my fill no problems at all.....issues there however, is a faulty order system which means that Stop Orders are often not triggered, which due to the nature of the 10* or 20* leveraged trading, means that positions are liquidated often. Indeed, trading against it's own customers and liquidating positions is likely where the exchange generates the majority of it's profits.......

....there is not one single Bitcoin exchange, which I would say is satisfactory to trade on.




Yeah....gonna have to wisen up and make the mental jump I think......sure, Bitcoin dangles stunning returns in trader's faces, much as the carnival dangles glittering prizes in unsuspecting punters faces, but the games that are on offer, are from the back end, designed to offer very poor odds of success.

I agree re. crypto markets, just seems like you could carry over what you learned here to less manipulated markets, where you actually stand a chance. Unless this is some kind of Ahab/whale thing for you.

You will encounter this slippage issue in everything you want to trade ... that's why advised trader always try to enter their trade in calm days, to avoid slippage cost (and also to avoid catching a train at midway to the last station)

Nope.....

Long term holder of precious metals, and that is about it. BTC is what got me into 'trading', something I have only very recently learned how to actually do properly, and am increasinlgy learning why Bitcoin is actually pretty horrible to trade, in comparison with stocks on regulated markets.



lol.....so you will be ecstatic when price goes back down to $400 range, and that $790 high turns out to be the actual 'Halving Pump'?

Just like you were jumping for joy as Bitcoin tanked below $800 (remember the pelters u gave me for suggesting that Bitcoin was in a bear market back then?), delighted as Bitcoin tanked below $600, delirious with euphoria as Bitcoin tanked below $400, etc etc?

The Chinese own Bitcoin now, which means Bitcoin is effectively under control of the Chinese government, who could clamp down and kill Bitcoin with one snap of thier fingers. Under such circumstances, no serious Western money will ever flood into Bitcoin. Furthermore, the Chinese Bitcoin Cowboy's are the ones who preventing Bitcoin from receiving the overhaul that it needs, simply in order for it to remain a viable method of transferring wealth....my last BTC transaction required over 3 hours to confirm. Dat shit just aint gonna run over the longer term.....my advice to you is to start lightening up your load, until you are essentially on free coins. There is another guy I know on here who has done exactly that, and who now refuses to spend anymore *real* money on Bitcoin.....wise man I would say.

@MatTheCat, do you trade anything other than BTC?

SSS is da bomb. Price goes up, great. Price goes down, even better, buy back and get more coins.

If u wanted to place a Market Order now to buy BTC on Finex, you would get filled at or near spot, cos the market is reversing and there are probably real traders wanting to get out. If you placed a Mkt Order to sell BTC right now, just watch the Bid Orders vanish beneath you.....A few days ago, I put in a Short Sell mkt order with spot at $678.88...got filled at $675.25, and this was for 5 BTC.......it's all bullshit, and it's bad for you.

.....last night was particularly bad, because I was trying to catch a reversal. The market was moving moving fast, being lead as usual by China, with the Finex bots responding to action on OKCoin and Huobi, and front running normal Joe Finex traders. Joe may think there are a few dozen worth of bids in the Wall to take a bite out of, what he doesn't know is how many of them are genuine orders, and how many will evaporate the very minute he executes his market order.

I never had these problems at Bitfinex. 

Welcome to the Bitfinex House of Smoke n Mirrors!

Was watching the double bottom reversal last night, and at the point I decided to get long, for my trade log records, I took this screenshot of the cross exchange LTF charts I was watching for confirmation of the reversal:




Great, so the trade is on, now to get into the trade. However, I am fucking sick of executing Market Orders on Finex resulting in me getting bumped $2-$3 up the charts from spot each and every time, so from now on, I opt to enter trades with Limit Orders only, even that means placing Limit ORder above spot in order to get filled at specific price......lets see how I got on:





Think I am through with Bitfinex for now, but what does that leave....


Bitstamp: The 'honest' exchange, but perhaps too honest. Volume begets volume, and the fact that Finex pads it's order books massively, does encourage more genuine trades. Bitstamp on the otherhand has become increasingly illiquid, which makes trading with stop orders suicidal. Also, no shorting.

Kraken: Another relatively illiquid exchange. Alongside Stamp, perhaps the least likely exchange(s) to one day just dissappear with it's customer's money which is a good thing, but Kraken trades BTCEUR. I have enough on my fucking plate trying to deal with BTCUSD, without having the extra moving part of EURUSD fluctuations to throw into the mix.

OKCoin .....lol

Huobi. 0% fees. Mkt Orders do get filled at spot price, but erm.....no Stop Orders here...not to mention being exposed to CNY, which the PBOC can and will out of the blue, decide to devalue by 10% one day.


It has been suggested to me on the traders site which I subscribe to, that one day I will look back on all this and laugh at how fkn corrupt it all is/was.......hmmm....  

Here's how you do Bitcoin TA since MatTheCat can't figure it out:

It`s btc and we are used to it 

I am almost offended at todays price movements. It didn't stay over 700 and it didn't drop enough to bother doing anything. Is that weird?

You exaggerate Mat. You can use BitGo wallet for instant and secure btc transactions.

Mat, I made a picture explaining on how to always get your transaction included in the next block.  You no longer have an excuse to say "no confirmations for 3 hours!":

Don't worry mat, you will be right about $620 eventually. After we rise to $9000, I'm sure there will be a flash crash down to the triple digits. Hang in there.

Right when the Russian IPO scammer from "Waves" gets done selling to buy Lambos and Vodka.  He's one of the biggest reasons for price suppression lately, but he's about out of coins now, or at least not enough to do any real damage anymore.  The market can absorb the rest of what he is.  I don't think he's selling all of them anyway so he might already be done:

https://blockchain.info/address/3DWBSSAue32YS8PcW2gLs6m52BCCv3UgDA

That Winklevii ETF could come as soon as a month and would probably skyrocket it too:

https://bitcointalksearch.org/topic/new-road-map-for-winklevoss-etf-possible-approval-in-weeks-or-months-1533942

Indeed.

I believe in both outcomes. Whilst I believe that ultimately, Bitcoin is doomed to fail, and when it implodes, a whole lot of wealth is just gonna evaporate, I also believe in the probability of this thing have another explosive move up. The $64K question however on both counts, is 'when'?

For a true explosive bull run, Bitcoin will need to have real fundamental reasons to charge higher. I always thought that this might be Chinese capital flight, but capital flight from China is on the increase all the time, yet Bitcoin is overlooked. It seems that serious money in China has got better ways of getting out the country than through Bitcoin.

Fwiw, I don't think the recent bull runs have much to do with any new fundamental drivers. This is just pre-existing Bitcoin capital ramping the market. Buying at the bottom, creating a bit of a frenzy, and then selling at the top. If you look at the Bitcoin chart, BTC is in nothing but a massive symmetrical triangle range. The upper Gann 1x8 line is currently running just shy of $1000 (can BTC get up there this year?), the lower Gann 1x8 is around $300. Of course, there is nothing to say that either of those Gann lines will be respected/tested, but they often are, and indeed, as BTC broke out of it's Nov 2015-Apr2015 range, it was a Gann 1x8 resistance line which was repeatedly tested, breached, and retested from above, before the mega pump kicked off.....I posted charts of this earlier in this thread.

Going forward, I still see Bitcoin corkscrewing for a while yet..zipping up to wipe out the short stops, then zipping back down to get the longs...forming triangles, narrowing down, and then breaking just to form another triangle on a larger scale, etc.....it wouldn't surprise me at all to see Bitcoin go on like this right through to the Halving, in around two weeks time, and then post Halving or possibly even slightly before the Halving, as the first of the stupendous volume of leveraged long positions start to get a bit nervous that Bitcoin isn't already up at $3K, I think Bitcoin will start to dump, and then dump hard, down to upper $400s or thereabouts.