Topic: Mentor Wanted - page 2. (Read 2634 times)

It's something that interests me and it is something that I'd like to do. It is not out of necessity.

That's what I find to be the toughest aspect of daytrading bitcoins. It's a 24/7 currency. You can't force opportunity, it has to come to you... and sometimes the major breakouts occur when you're sleeping in the night. And it takes so long to develop you might have to be at your computer for several hours. It'll be a problem no matter where you live. I don't think there are stop orders on most major bitcoin exchanges (and if there were, i would not trust using them) so you have to get out by watching the prices yourself.

thank you for the link - very helpful

As I have said - I've been lurking for a few weeks  

I put together here, a simplified version of info that can be found around the net. It explains the important parts of Eliiot Wave Theory (used by many here) and delves into the use of Fibonacci retracements to determine likely targets.
https://community.bitfinex.com/showthread.php/45-Elliot-waves-to-Fibonacci

I wrote about trend lines and how to trade using them here:
https://community.bitfinex.com/showthread.php/171-Trend-Line-Analysis

You can also check out Goomboo's Journal here:
https://bitcointalksearch.org/topic/goomboos-journal-60501

These are all beginner oriented threads for three different but useful types of market analysis.

To be honest I think that charts and stuff shows f'all in such wild market and if you're not very well studied in that stuff it's just going to confuse you.

My advice, though I'm in no way expert or too experienced with bitcoin, is to watch market all the time and see how it's going, week of market studying will do you more good then all these charts imo. With time you get some sense what some reactions means and where it might head though you'll never know that with charts, watching or whatever with so much manipulations happening on bitcoin exchange.

Try to not lose a lot-that's the first thing you have to watch as it might demoralize you and stop you to think rationally. Beside big loses put you back in your plans. When you earn something than you can make some high risks but on the beginning play on safe. It's better to earn one dollar in 5 consecutive trades than lose 10 in one

I made about 10 BTC trading on the way down from 110 to 60 (and to now, 73 or so) over 2 days. But if I told you how I did it you might be able to take some of the money I make myself. It's not that easy, I sit and watch the trading screen for hours (and hours...). There's more to it than that of course but I think watching the tickers is one of the most important things. If you're really interested, then make an offer for my time and I'll explain my setup to you, talk you through my strategy, and give you some other sources of info I use.

The truth is though I hate trading this way and I only do it when I am desperate for money because it's somewhat risky. Do you really want to be a daytrader?

i recommend smoothie.

I don't know anything about a mentor but I can offer a good start:

http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:introduction_to_candlesticks

My awesome advice: Just chuck it in!

Cool idea though. Hopefully someone smart can help you out

Ok, so I'm not sure if this is the right place or even if it is ethical, but here goes .....

I'll be completely honest with you, I am here to speculate and try to earn some extra cash by Day Trading.

I understand the point of Bitcoin is to be used as a currency, but since it is such a volatile market I see it as an opportunity to learn the skills involved in trading.

I have always had a fascination with markets, but I have zero understanding of them.

I read you guys talking about the volume and walls etc and I've made a couple of purchases and the price has dropped immediately - Hell, I could simply put a post here and tell you all that I am buying and that would be your cue to get ready to buy cheap.!!!

So far it has all been guesswork.

I have been lurking here for about three weeks now and my funds cleared at Bitstamp on the morning of April 10th. I didn't risk too much but I'm sure you can guess how it went for me 

I don't know how to interpret charts, I have no historical knowledge. All I know is what I have learned from this forum - I may even have got that wrong and taken the trolls advice by mistake.

I read about doubling down etc - it's Double Dutch to me 

So I am looking for someone to mentor me.

If there are any experienced and successful traders out there who would like to pass on their knowledge I propose to share profits.

I am not looking for timely tips on when to buy or sell. I would like to be taught how to interpret the data and make the decisions for myself.



If you are prepared to mentor one person then you could mentor others too - you could even have a subscription based blog training the new guys here.

This could be a real opportunity for someone who is prepared to put the time in. There are 28,000 accounts waiting for verification at Gox and a high percentage of those will be novices like me who have been captured by Bitcoin.
An automated daily training email such as can be set up at MailChimp could be a real money spinner for the right person.

I should really mention that I will need to be careful who I learn from and I need to be able to verify your good intentions and honesty - perhaps by other prominent forum members vouching for your good character.

So, any offers ??