Topic: Lose all your capital fast, with MatTheCat and his TA 101A! - page 45. (Read 85774 times)

It was fucking idiotic.

But I did alter it to much more 'attainable' targets.....It was a quick trade, never had a lot of time to think about it....and for a Volumn Profile trade, the target is always the PoC.

Big question for me is, why the fuck am I taking longs, when I am bearish as fuck?

I said BTC was going down, the short I took yesterday would have now hit, except I got FU'd out my position by fkn OkCoin crooked bastards....I have made numerous posts stating that I think that Bitcoin is going to tank........and the trade I choose...is a fucking counter trend long!?

Yet again...I turn hundreds of bucks of potential wins, into sore assed losses.



I sometimes wonder what goes on in my head.

It is showing the end, or at least a local end to the selling and he has a scalp long in play. There is no actual time limit implied and no one would expect a bounce right back to the consolidation highs immediately.

This trade is completely baffling to me.  Did you really think it would retrace all the way up to that line right away?  That would be pretty bizarre structure for a correction/break down like this.

Is this the thread to lose all my Mats with TA from cats.

Check where this bitch found resistance.....like fucking poetry:

He definitely acquired more than 1 BTC somehow.  This trade would require 2 BTC with leverage!

My brother just Emailed asking me if Bitcoin was about to go on the rampage again. Last time he done that, Bitcoin was at $505, I was long from $390, after being long from $240, and having cashed out at $325, only to pile right back in with twice the funds I orignally had ont he exchange. I was in full FOMO mode and actually advised him to take a position, but whilst we were talking, Bitcoin tanked to $460 or something....but being in full permabull mode, I wasn't concerned at all.....after all, brutal corrections are part of any Bitcoin rally, right?

Point being, my brother is the definition of the public. If he is thinking of coming stampeding in, that is a very good sign that the top is very close, or already in. I suspect the top is already in. China lead this pump, and at one point opened up a $60+ dollar price differential between them and Finex (never mind between them and Stamp). That gap has now narrowed to aroudn $20. Stamp n Finex keep saying up up up, but Huobi isn't interested. Neither are OkCoin 3 Mon Futs. I suspect a lot of this action has to do with CNY devaluation. If that is true, then price increase has already been factored into Bitcoin, and indeed we are probably in a state of Bitcoin being extremely overvalued right now. If what Chinese Bitcoin investors are primarily seeking, is exposure to the USD, then they are going to want to start dumping Bitcoin on USD exchanges fairly soon, especially those who bought in at the bottom of the pump.

For me, the top is in, and a brutal correction awaits, but I won't be trying to short this. Fucking sick of the anxiety and the dirty little FU moves that will occur basically in any situation where whales aren't basically at the exchange gates with lorry loads of BTC to dump. I would basically want inside knowledge to short this. Failing that, fuck it. One thing *knowing* that this pos is about to dump, and then watching it happen and saying "man, I knew that was gonna happen, I shoulda shorted!", but quite another thing actually timing your short so that you catch the dump, without being robbed by the exchanges beforehand.

Not to the same extent, no. Exchanges have access to much more information than the punters, and, without regulations, exchanges would be foolish not to use it. Playing this market is like playing poker against the house, with the house being able to see all (okay, most of) your cards. You can still win, but it's not really poker & the odds are against it.

Permabull trying to use reverse psychology.
If I'm right and this was the top, it won't be worth taking a medium term short position for the next couple of weeks, just scalping should be worth.
And don't forget to buy the bottom of the correction around 420$, again if I'm right about this being he top, it should rise to 680$ later this year.

Transfer of 2345.0 USD from wallet trading to exchange on wallet exchange
2,345.00000000      2,345.00301882   
15-04-14 14:35:19
Transfer of 2345.0 USD from wallet trading to exchange on wallet trading
2,345.00000000   0.16885386   
15-04-14 14:35:19
Trading fees for 17.0224 BTC @ 512.99 on BFX (0.2%) on wallet trading
17.46463752   2,345.16885386   
15-04-14 11:19:52
Settlement @ 512.4 on wallet trading
8.70261181   2,362.63349138   
15-04-14 11:19:52
Position #136644 closed @ 512.99 on wallet trading
2,743.68686449   2,371.33610319   
15-04-14 11:19:52
Trading fees for 4.9776 BTC @ 512.4 on BFX (0.2%) on wallet trading
5.10104891   5,115.02296768   
15-04-14 11:19:52
Trading fees for 5.0 BTC @ 500.0 on BFX (0.2%) on wallet trading
5.00000000   5,120.12401659   
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Trading fees for 2.0 BTC @ 424.7711 on BFX (0.1%) on wallet trading
0.84954220   5,125.12401659   
14-04-14 05:40:20
Trading fees for 2.0 BTC @ 422.12 on BFX (0.1%) on wallet trading
0.84424000   5,125.97355879   
14-04-14 05:38:10
Trading fees for 2.0 BTC @ 420.0 on BFX (0.1%) on wallet trading
0.84000000   5,126.81779879   
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Trading fees for 2.0 BTC @ 417.0 on BFX (0.1%) on wallet trading
0.83400000   5,127.65779879   
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Trading fees for 1.8637 BTC @ 410.938 on BFX (0.1%) on wallet trading
0.76586253   5,128.49179879   
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Trading fees for 0.1363 BTC @ 410.938 on BFX (0.2%) on wallet trading
0.11202694   5,129.25766132   
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Trading fees for 1.0 BTC @ 409.89 on BFX (0.1%) on wallet trading
0.40989000   5,129.36968826   
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Trading fees for 1.0 BTC @ 409.3 on BFX (0.1%) on wallet trading
0.40930001   5,129.77957826   
13-04-14 18:08:34
Trading fees for 2.0 BTC @ 406.999 on BFX (0.2%) on wallet trading
1.62799600   5,130.18887827   
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Trading fees for 1.0 BTC @ 407.1001 on BFX (0.2%) on wallet trading
0.81420020   5,131.81687427   
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Trading fees for 2.0 BTC @ 400.0 on BFX (0.1%) on wallet trading
0.80000000   5,132.63107447   
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Trading fees for 4.0 BTC @ 400.0 on BFX (0.1%) on wallet trading
1.60000000   5,133.43107447   
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Trading fees for 2.0 BTC @ 400.0 on BFX (0.1%) on wallet trading
0.80000000   5,135.03107447   
13-04-14 17:27:23
Trading fees for 1.9512 BTC @ 402.0 on BFX (0.2%) on wallet trading
1.56880137   5,135.83107447   
13-04-14 17:20:36
Trading fees for 0.0388 BTC @ 402.001 on BFX (0.2%) on wallet trading
0.03115871   5,137.39987584   
13-04-14 17:20:36
Trading fees for 0.01 BTC @ 402.01 on BFX (0.2%) on wallet trading
0.00804020   5,137.43103455   
13-04-14 17:20:36
Trading fees for 1.0 BTC @ 403.1899 on BFX (0.1%) on wallet trading
0.40318990   5,137.43907475   
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Trading fees for 1.0 BTC @ 402.02 on BFX (0.2%) on wallet trading
0.80404000   5,137.84226465   
13-04-14 17:11:51
Trading fees for 4.0 BTC @ 411.2 on BFX (0.1%) on wallet trading
1.64480000   5,138.64630465   
13-04-14 15:41:50
Settlement @ 411.5 on wallet trading
0.20183664   5,140.29110465   
13-04-14 15:41:50
Position #136396 closed @ 411.5 on wallet trading
62.60010000      5,140.49294129   
13-04-14 15:41:49
Trading fees for 2.0 BTC @ 411.2 on BFX (0.1%) on wallet trading
0.82240000   5,077.89284129   
13-04-14 15:41:46
Trading fees for 1.0 BTC @ 420.07 on BFX (0.2%) on wallet trading
0.84014000   5,078.71524129   
13-04-14 11:44:08
Trading fees for 1.0 BTC @ 420.0701 on BFX (0.2%) on wallet trading
0.84014020   5,079.55538129   
13-04-14 11:44:08
Trading fees for 0.281 BTC @ 422.42 on BFX (0.1%) on wallet trading
0.11870002   5,080.39552149   
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Trading fees for 2.0 BTC @ 422.41 on BFX (0.2%) on wallet trading
1.68964000   5,080.51422151   
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Trading fees for 1.719 BTC @ 422.42 on BFX (0.1%) on wallet trading
0.72613998   5,082.20386151   
13-04-14 11:27:46
Transfer of 5082.93 USD from wallet exchange to trading on wallet trading
5,082.93000000      5,082.93000149   
13-04-14 11:27:03





My error. Twas more like $3K. Still. That short trade at $402, on the 'dead cat bounce' (lol) from $340 (it was a dead cat bounce alright, but it bounced all the way up to $547) leaves an indelible mark on me and my trading psychology.

I welcome all shorters at this point and I recommend 20x leverage while you're at it. Safe play and nothing could possibly go wrong. You could get rekt but big deal right. Go big or go home.

2.5 years ago he was whining about holding onto a single bitcoin... at $800/per. And now he wants us to believe that he has enough trading money to lose $3500?

Hmmm, something doesn't quite add up...

LOL, no wonder you're a Bitcoin hatred quote generator.  Every trade must feel like PTSD when a WW2 vet goes to a bowling alley and hears a loud noise and thinks he's been shelled by the Germans.

Best of luck with that.

This is an up market. An up market that has gotten way overboiled and has ran out of steam, but still an upmarket.

You place your short entry any other time than when the whales are getting ready to dump, and the exchanges will take your money off you. Unless you are willing to go balls to the wall and not set a stop loss.....Last time I done that, I ended up losing $3500. So these days, I just put up with getting my Stops run, and then watching price come back to my entry level 5 minutes later, like what happened today.

These exchanges are unregulated. The operators can, and do, do what the fuck they like. It would be a test of anyone's moral rectitude to be in the midst of temptation like that, and not become a little crooked, but my contention is that the people who are running the likes of OKCoin, and Bitfinex, are not just a little crooked, but hell bent and twisted over backwards crooked.

all traders should be short now ... we got another FU dragon-surprise yum cha lined up for them.

I'm definitely shorting this for a couple hours

Here are some pretty pictures for permabulls to look at:










Verdict. Near term bearish as fuck. But I amn't shorting it. Shorting means playing with margin and that is just fucking fodder for the corrupt exchanges who know where all the liquidation levels are, and who will farm the fuck out of any traders silly enough to play short trades in any period of time when whales aren't busy dumping the fuck out of Bitcoin and margin longs. When the dumps come, they will be very sudden, and very fast. Best of luck trying to time those. I should really know better by now about taking counter trend trades......(have practically emptied OkCoin Futures account so that I don't get any bright ideas). Being generally right about market direction, and successfully trading it (on margin) are two very different things.

Wait, we need to load the relevant MatTheCat quote generator: