Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32811. (Read 26611313 times)

I find the terms 'bull trap' and 'bear trap' meaningless. It's so obvious that you need to consider these things when day-trading. That the price might retrace after going up or down too much.

As humans, our sense of narrative drives everything we do or feel, often to the detriment of being able to objectively analyse the facts.

Basically, we like to make a nice story to sum up what's happened to make it easy to remember and learn from.

Bearing that hindrance in mind, here's my prediction for BTC for the next 90 days:

Up down up up down up down up down up down down down up up down up up up up up down sideways.

this is probably the funniest thing i've read on here  

Is that a rhetorical question?

It's also a good feeling that it's not needed to keep fiat in GOX anymore. IDK would bitstamp be better?

Gox will go bankrupt soon, really exciting !!!

Good choice methinks on the whole - and welcome to the club  Assuming bitcoin isn't on a terminal decline likelihood is the overall direction will continue to be up therefore other than at such times as the recent downward trend when trading can be used to increase btc holding you have to be both very good and very lucky to make more trading than you would by simply holding over the long term.  The reason for this is in an uptrend you need to buy your fiat just before a bitcoin price dip and buy your bitcoins back just before it rises again otherwise you've lost.

This is another aspect of course - the educational one.  If trading is a skill you want to learn, BitVegas, then trading experience (within affordable loss risks) is essential - as is reading up on trade size strategies in relation to your overall bank, record keeping, psychological factors, entry/exit strategies etc.  It is very easy to get the impression from a forum like this that many more are successful than actually are because admitting losses on line as you nobly did is less common than keeping quiet about losses and bragging about our wins.  With bitcoin trading there is the added element of a tendency to mix trading to increase bitcoin holding (i.e. where holding fiat is an 'open trade') with trading to increase fiat holding (where an 'open trade' is having a short-term bitcoin holding).  People not clear on their intent can kid themselves for a long time that they are trading successfully!

acknowledged. i think we have to pass 115 before the ABC count for the continuing bear trend can be invalidated/confirm a wave 3

It is also possible that this rise is a bull trap.

but we need more people not yet fully 100% in BTC  so that we keep going up!!  

We need to break 115 USD and then 133.5 USD from 2013-5-26, so that I can have a lot of money.

Marked my buying spot, im now 85% BTC (15% LTC).

start small and learn from your mistakes!! trading provides invaluable insights

Yeah. I got very lucky trading when I first started and that was before I knew anything.

Now the 'more educated' me has failed time after time. I'm switching to buy and hold and in it for the long term. Trading ain't my game!

I disagree. You had some Bitcoins at $90, now you have some Bitcoins at $110. Winning.

And you'll sell at 90 again 

Sold at 90 and bought at 110.

I think I'm doing it wrong.

BUY BUY BUY! ;-)

+1 Yes, of course.