Topic: Lose all your capital fast, with MatTheCat and his TA 101A! - page 38. (Read 85774 times)

... this thread is my new happy place. It is hilarious, never fails to deliver.

Hey. The last actual trade I posted was a long.

I won $100, and that was whilst bailing at only 50% of the target.

Had I just held those Bitcoins, I would be up approx $2000 by now.

lol.

This thread:

Unbelievable, settling for a few hundred dollars of profit when a bull market is in the making is simply pathetic and a prime example to others of why you don't sell period during these times. Just shocking.

I'm not entertained. I hate seeing people destroy themselves. But you can only help people who want help.

All purely your opinion, and all completely backwards from logic.

1. Equity money will flow out of top-heavy, overbought markets (like stocks, oil, and real estate are right now) and instead flow *into* undervalued, oversold ones (like Bitcoin, PMs, startups, etc.).  Every. Single. time. Equity money will not just sit on the sidelines for years, doesn't happen. Because fiat money is dead and losing value daily when it just sits in a bank account or vault somewhere.


2. Bitcoin *is* a safe-haven (deflationary), and bitcoin *is* money because it can be value-transferred for goods/services.  Fiat money sitting in bank accounts is subject to inflation, negative interest rates, monthly fees just to hold it for you, and possibly bank/government seizure at any time.

Even if you have more that $3K in a bank account, just for kicks try going into your local bank branch and pulling it all out.  Would you be surprised to find out that you can't?  Would you be surprised that they will tell you that there's a limit on what you can withdrawal that day, and that they don't have enough 'fiat on hand' to fullfill your withdrawal?  That it'll take 3-4 business days to get you the rest of your money shipped to the bank branch? And they'll tell it's all for 'security reasons'. Try it sometime just for fun.  

But you just keep spewing your backwards, non-sensical logic, Mat. It sure makes for some fun entertainment.  

Short but terribly efficient, I have to agree

It is painful to read this thread. Truly car crash stuff from Mat.

Just buy some and do something else for 5 years, Mat. You are not a trader. You are the guy trying to trade microsoft shares in the 1990's and losing money.

Just learn waves you'll save yourself a lot of hasle.

If the dollar collapses, then Bitcoin aint gonna save ya.

Best of luck trying to buy some groceries, or bribe a border guard with some digital token sitting on your smart phone, which you can't even send to the recipient, cos the telecoms companies have shut down their internet servers, or cos you can't get your phone charged cos their is only electricty for 5 hours a week. In a situation where we have total financial meltdown, nobody will want to be holding any 'notional wealth', and that includes Bitcoin or any other Alt.

Mat, do you seriously believe the dollar will keeps it value for the next 20 years?

Because I have some news for you in that case, the dollar is dying, and it's not bitcoin who killed it.

Bitcoin is only the life raft for those who choose not to drown under the collapse of the dollar.

Not really.

Nobody knew in advance, that the April 2013 Willy bot (or Cypriot bail-in) pump was going to happen. Nobody knew the China + Willy bot Nov 2013 pump was going to happen.

This time around, everyone knew that the Halving Pump was gonna happen. Majority of people who are pro Bitcoin, have gotten themselves well long, way in advance. A guy who subscribes to the same trader site as I do, is talking about a 20* leveraged Bitcoin trade, he took back in March, meaning that he can quit his job and start trading for a living. And the miners who are natural born sellers of course, will have a hydro-electric dam's worth of BTC, that they have been witholding from the market, expecting to cash them in for higher prices further down the line. This is one of the theories that attempt to explain the rather low volume in BTC of late. Miners are holding. The market isn't having to consume some 3600 BTC per week of pure unadulaterated selling pressure (arguments that state that 3600 is only a tiny fraction of total weekly BTC volume don't hold water, cos most of that weekly volume is just the same balls of capital buying and selling bitcoins over and over).

My last good n proper bloody nose in Bitcoin, was when I went FOMO long at $390, on pump which ended up topping at $500. I ended up selling those coins at $300. I told myself that I would just hold through thick n thin, and that come summer 2016, that Bitcoin would be up around $800, but my nerves collapsed. My nerves collapsed, because I amn't a Bitcoin believer and have basically no faith in  Bitcoin. The irony that I would be close to doubling my money had I just shut my eyes and held, isn't lost on me, but I can never hold Bitcoin unless it were a meaningless amount or a as part of a trade setup that I had faith in.

I fully expect Bitcoin to blow up one day in the not so distant future, taking everyone's wealth with it. I will never be a Bitcoin holder.



pffft...

Who is gonna be doing the buying likes?

Incase you hadn't noticed, equities are about to take a big fkn tumble and contrary to popular opinion, a shrinking market is not good for Bitcoin. I wouldn't count on it, but perhaps this is why this Halving Pump had to happen at the weekend, when equities aren't trading? When notional wealth starts to get destroyed in the coming weeks, capital will not be entering Bitcoin, but leaving it. Bitcoin is not a safe haven asset, and Bitcoin is not money. It is a ultra volatile low liquidity digital commodity. In a deflationary environment, Bitcoin can only go one way, saving for some kind of 'event'.

In terms of % increase in price, this rally doesn't even come close to the Willy bot 2013 April pump. In terms of nominal increase in price per period of time, it is currently matching the May 2014 pump, which got from mid $400s up towards sub $700. I remember back then. Bitcoin was going 2 da moon. Loads of people got long up in $600 range inlcuding myself.  Whilst I dumped after BTC dipped into $500s, I have a mate who is bagholding from then until this day. Lots and lots of bag holders up in this zone, no doubt many biding their time in order to claw back substantial balls of capital.

We shall see how this plays out.

mat have you entered a short yet?


Waiting to make mad profits



Buying back at 609.91$

+1

Lose all your capital fast, with MatTheCat.

OR

buy and hodl.

Your statement here describes every run up in bitcoin's history since its inception, does it not?  But who cares? It doesn't discount that long investors are continuing to do well, while short term traders are getting the shaft.

Just take a long position, be done with it and walk away for a few years.  I guarantee you'll have done better on that time scale than what you are doing right now.

The rampant market pessimism (believe it or not) right now is a beautiful thing, it's actually the key ingredient to propel us past the ATH.

Every other post on this forum is something to the effect of "well, this is nice, but there's no way it can go past 500 600 650, I suspect it will top out around 700 by the halving, blah blah grumble grumble"

This is because the bear market has lasted long enough that most current users of BTC were not around in 2013 or earlier, and don't have a clue about the psychological effects of an exponential rally.

These are the exact people, with the kind of mindset portrayed in this thread, who will panic buy when the price goes shooting past their conservative target and continue to propel it upward.  Maybe not Mat because he's too stubborn to try to make even a small amount of money.

The gears are in motion, there won't be a red week until at the earliest 4 weeks from now.  Even a relatively small rally like October last year puts up 6-7 weeks in the green.  If you look at the first 3 weeks of this rally it crushes 2013, let alone late 2015.  In the next 4 weeks you will see an almost unprecedented level of panic buying.  Good luck in whatever you decide to do, Mat.

Whatever....permabull finally gets his head above water and he gets all cocky and triumphant.

Permabears meanwhile keep a low profile, but they will be back soon enough, telling everyone that 'they told you so'.

This is a blatant manufactured pump. Albeit a manufactured pump that has been telegraphed for a long time. I believed it was coming, but I think due to my total lack of faith in Bitcoin and the people behind it, I have failed to jump on it at the right moment.....cos Bitcoin is fkn bullshit. Bloated, Slow, Clunky, and grossly overvalued to the point where if the market is unable to consistently pay $500 per Bitcoin, the miners who keep the whole thing running will be forced to shut down.

I paid for something (legal) with Bitcoin the other week. But cos the exchange charged a minute transaction fee, I 'underpaid'. I have not got the service that I paid for. I have not had any response from the vendor. They have my Bitcoins, I have fuck all but a headache. Had I paid using conventional means, there would be no issues. I also need to restock on some produce sold on darknet. But I can't do it right now because Bitcoin is too volatile. I don't want my BTC taking 24 hours to finally reach the marketplace, and then spend a weekend in escrow, whilst my order is processed. Bitcoin is fkn shit for the purpose it was intended for. Bottom line, is Bitcoin isn't attractive as a means of payment to anyone outwith drug dealers and paedophiles, when compared with conventional digital banking.

Bitcoin is good for making some people rich, and most people poor. And nothing else. Could be that this pump (so da miners get paid) is Bitcoin's last throw of the dice before the looming technical issues and huge computational burden drive Bitcoin into the dirt, and some leaner, smarter, more efficient crypto takes it's place. If I were you, I would knock the delusions out of your head and look very seriously at profit taking targets, cos you can bet the Chinese Bitcoin Cowboys who are largely behind this ramp, have very clear objectives on where they want to start selling and letting the public take over.....and when the public take over....Bitcoin won't travel very far.


4465 CNY on Huobi, was a 50% retrace from the ATH and the Jan 2015.

I would never go calling a top on this....but I were long, I be hopping off the bus right there for sure.

So Mat what your TA says will be the top? 

Alright mat. This was the last time I attempt to help you. Good luck.

I'm the fool, and all you people are the cool guys......

.....until they decide that enough is enough with the manufactured pump, and the miners start fighting hand over fist to offload their massive backlogue of Bitcoins, that they have been saving up for the 'inevitable' Halving Dump.


How far this manufactured pump is going to go, only those responsible for doing the pumping are going to know. Only they will know how much of their own funds that they are having to burn to lift this highly overvalued and overbloated thing, versus how much they get to claw back from the public and it's FOMO buying spree. Volume has been very poor, especially on last night's break out, but if the aim of the game is to lure the unsuspecting public to come charging back into Bitcoin as Bitcoin hits $XXX, then I am sure that 'they' can address the low volume issue pretty easily......I notice that there are around 5K worth of sell wall on Finex at $635. Chances are that most of that Ask Wall will be devoured by the same hands that put it there, thus providing yet more impetus to the great halving pump.

I was waiting on a correction that never came. There were divergences in place that in a normal market suggested that a correction was needed, but a correction wasn't part of the manufactured halving pump's bluebrint. I shall now not touch Bitcoin again for the remainder of this pump, except perhaps to sneak my money off the exchanges via LocalBitcoins during a relatively quiet phase. Seen too many times in crypto, how quickly a massive pump can turn on itself, and leave the majority of those participating sorely out of pocket and have been a victim of it myself. It won't be happening to me again.

From this latest pump n dump scheme, I am up around $600. Pathetic. Not nearly as good as the ~ $2500 or so I was up at the peak of the Nov 2015 pump n dump. However, that $2500 profit very quickly turned into a $1200 or so loss. I never realised the profit in Nov 2015, but I did realise the loss.

Zero sum game, is all I am saying. There is no actual wealth being created here. Only wealth being sucked up from the majority and redistributed to the minority.


Edit: Seems that the 4K Ask Wall on Finex, was rather more one of the 'vanishing' variety, than the self-devouring.