Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33651. (Read 26496387 times)
May 08, 2013, 08:07:26 AM
May 08, 2013, 08:06:23 AM
$111 seems to be a psychological barrier, it keeps getting close but everytime it looks like it will go through 111 it bounces back up again. 111 is a weird number though, don't know if that has something to do with it. 
We are simply having an uber low volume period, we are at the end of the triangle. When we break it, in a few days, it will be funny and 111 will not matter anyway.That's it, my friend. Let's take our positions for the battle in the meanwhile
May 08, 2013, 08:05:28 AM
$111 seems to be a psychological barrier, it keeps getting close but everytime it looks like it will go through 111 it bounces back up again. 111 is a weird number though, don't know if that has something to do with it.
We are simply having an uber low volume period, we are at the end of the triangle. When we break it, in a few days, it will be funny and 111 will not matter anyway.I know we'll break this pattern soon enough but I just thought it was a funny observation.
May 08, 2013, 08:04:57 AM
$111 seems to be a psychological barrier, it keeps getting close but everytime it looks like it will go through 111 it bounces back up again. 111 is a weird number though, don't know if that has something to do with it.
It has become support. As 110 is the psychological number, in an up trend people trade above 110 because they want to buy the coins, so the support moves up.
May 08, 2013, 08:03:24 AM
So, returning to the topic of this thread, which way will it go next, up or down?
May 08, 2013, 08:02:06 AM
$111 seems to be a psychological barrier, it keeps getting close but everytime it looks like it will go through 111 it bounces back up again. 111 is a weird number though, don't know if that has something to do with it.
We are simply having an uber low volume period, we are at the end of the triangle. When we break it, in a few days, it will be funny and 111 will not matter anyway. 
May 08, 2013, 08:00:40 AM
thanks for the support! When (if) I make it, I'll send you a tip
quoted! haha
May 08, 2013, 08:00:14 AM
$111 seems to be a psychological barrier, it keeps getting close but everytime it looks like it will go through 111 it bounces back up again. 111 is a weird number though, don't know if that has something to do with it.
May 08, 2013, 07:58:19 AM
personally I'm not too interested in peoples life/trading plans being detailed on the wall movement tracker thread...
I also think quitting your job to trade bitcoin is pretty ridiculous - unless your were a successful trader before perhaps - but then why would you need to quit your job...
I also think quitting your job to trade bitcoin is pretty ridiculous - unless your were a successful trader before perhaps - but then why would you need to quit your job...
Of all the bullshit that gets posted on this thread, someone explaining they're trying to make 3-4% a day trading, discussing price points they got into BTC, what price they're holding at now, their trading goals, is probably in the top 10% in terms of meaningful posts.
You disagree with the notion someone can make a living day trading BTC, so you're having a snarky response to even the discussion of it. Someone asked him, he answered. If the topic upsets you, stop quoting/talking about it.
People pop in with this "ZOMG I NEEDZ WALL TALK! TELL ME WHAT TO DO! TELL ME TO BUY OR SELL PLZ!!". Sometimes there's not much going on. A variety of topics gets discussed, it's a forum, people post stuff, if this upsets you it's time for a break, mmkay?
+1
It's not like there's much happening anyway, we'll all be on topic as soon as there is
May 08, 2013, 07:58:00 AM
thanks for the support! When (if) I make it, I'll send you a tip
May 08, 2013, 07:54:27 AM
personally I'm not too interested in peoples life/trading plans being detailed on the wall movement tracker thread...
I also think quitting your job to trade bitcoin is pretty ridiculous - unless your were a successful trader before perhaps - but then why would you need to quit your job...
I also think quitting your job to trade bitcoin is pretty ridiculous - unless your were a successful trader before perhaps - but then why would you need to quit your job...
Of all the bullshit that gets posted on this thread, someone explaining they're trying to make 3-4% a day trading, discussing price points they got into BTC, what price they're holding at now, their trading goals, is probably in the top 10% in terms of meaningful posts.
You disagree with the notion someone can make a living day trading BTC, so you're having a snarky response to even the discussion of it. Someone asked him, he answered. If the topic upsets you, stop quoting/talking about it.
People pop in with this "ZOMG I NEEDZ WALL TALK! TELL ME WHAT TO DO! TELL ME TO BUY OR SELL PLZ!!". Sometimes there's not much going on. A variety of topics gets discussed, it's a forum, people post stuff, if this upsets you it's time for a break, mmkay?
May 08, 2013, 07:53:30 AM
Good luck, wish I was in your position!
I don't want to do the demoralizer here, but i think that what you aim for is impossible.First of all, you should try to maximize your profits. If you don't do so, you will have burnt 10 days of lucky work with a single loss of 30% (that will certanly happen to you, sooner or later).
Yes 3-4% gains every single day for 100+ straight days is impossible. You'd be a millionaire by Christmas.
However it's not impossible to earn a living day trading BTC. It's hard. It's not stable. There will be some very tough weeks. But it's hardly impossible.
Some would argue it's easier to day trade BTC then people day trading any other stock/market. It's much easier to spot manipulation in this market, which makes it easier to follow the manipulation up and down to make money. On the DJIA there's still manipulation, big money has an advantage, it's just harder to see it coming and you end up getting run over far more then you do here. BTC volatility is also great for day trading.
It's just the whole "Gox bank accounts/servers get seized/frozen and BTC is set back two years and likely crash to $2" that's the scary part. Other than that it's the wild west of opportunity.
On the other hand if you've built it up from nothing and made a living out of it for a while and then this happened then it's not so bad, after all you've only really lost the small sum that you started with and some of your time. And it it does go well then it's got to be better than working in a factory for minimum wage. There's not much to lose by trying anyway, better to try and possibly fail than to never try at all.
May 08, 2013, 07:50:34 AM
personally I'm not too interested in peoples life/trading plans being detailed on the wall movement tracker thread...
OK, sorry for interrupting the flow.
The walls are still there.....unlike the trades....
May 08, 2013, 07:46:10 AM
Good luck, wish I was in your position!
I don't want to do the demoralizer here, but i think that what you aim for is impossible.First of all, you should try to maximize your profits. If you don't do so, you will have burnt 10 days of lucky work with a single loss of 30% (that will certanly happen to you, sooner or later).
Yes 3-4% gains every single day for 100+ straight days is impossible. You'd be a millionaire by Christmas.
However it's not impossible to earn a living day trading BTC. It's hard. It's not stable. There will be some very tough weeks. But it's hardly impossible.
Some would argue it's easier to day trade BTC then people day trading any other stock/market. It's much easier to spot manipulation in this market, which makes it easier to follow the manipulation up and down to make money. On the DJIA there's still manipulation, big money has an advantage, it's just harder to see it coming and you end up getting run over far more then you do here. BTC volatility is also great for day trading.
It's just the whole "Gox bank accounts/servers get seized/frozen and BTC is set back two years and likely crash to $2" that's the scary part. Other than that it's the wild west of opportunity.
May 08, 2013, 07:45:30 AM
personally I'm not too interested in peoples life/trading plans being detailed on the wall movement tracker thread...
I also think quitting your job to trade bitcoin is pretty ridiculous - unless your were a successful trader before perhaps - but then why would you need to quit your job...
You made me reflect about why i'm short on this market... I also think quitting your job to trade bitcoin is pretty ridiculous - unless your were a successful trader before perhaps - but then why would you need to quit your job...
May 08, 2013, 07:42:58 AM
personally I'm not too interested in peoples life/trading plans being detailed on the wall movement tracker thread...
I also think quitting your job to trade bitcoin is pretty ridiculous - unless your were a successful trader before perhaps - but then why would you need to quit your job...
I also think quitting your job to trade bitcoin is pretty ridiculous - unless your were a successful trader before perhaps - but then why would you need to quit your job...
May 08, 2013, 07:37:29 AM
Well, I also have an ASIC on the way, which should help.
I'll also be putting the profits from that into a few more of them, at first.
I know it's a hard slog, but I think I can do it. If it takes longer to achieve my goal, then so be it - I won't quit until I've got those 1000BTC (and enough profit from day trades to have saved the eqivalent of a few months wages at my normal job - which will be a couple of weeks if the price holds)
I'll also be putting the profits from that into a few more of them, at first.
I know it's a hard slog, but I think I can do it. If it takes longer to achieve my goal, then so be it - I won't quit until I've got those 1000BTC (and enough profit from day trades to have saved the eqivalent of a few months wages at my normal job - which will be a couple of weeks if the price holds)
May 08, 2013, 07:28:02 AM
Good luck, wish I was in your position!
I don't want to do the demoralizer here, but i think that what you aim for is impossible.First of all, you should try to maximize your profits. If you don't do so, you will have burnt 10 days of lucky work with a single loss of 30% (that will certanly happen to you, sooner or later).
This.
May 08, 2013, 07:22:24 AM
Well, I aim for 3% increase in BTC volume per day, so since I have just bought the BTC at $112.5, it's not worth cutting my losses at $110, as it will take longer to recover them.
Anyway, the downward trend seems to have lost momentum, and is turning back upwards.
I'm trying to make my initial buy-in of 6.2 bitcoins* into enough to quit work - I'm at 16.7 now, after 2.5 weeks, so eventually I will manage it - if only I can purchase and sell at the right time for once.
I'd rather take my time, and tread carefully. I have slipped back too many times this week (I had 22.5 BTC at one point, then held cash due to a badly timed sell, as it shot up on the 3rd while I was asleep. I tried to recover by buying in late, just as it peaked again - I lost about $500 that day)
The thing is, I have very limited resources, and I really don't think it will drop much below $110 again any time soon, so I'd rather not risk it.
* I bought those (literally) 15 minutes before it plunged from $250....
Anyway, the downward trend seems to have lost momentum, and is turning back upwards.
I'm trying to make my initial buy-in of 6.2 bitcoins* into enough to quit work - I'm at 16.7 now, after 2.5 weeks, so eventually I will manage it - if only I can purchase and sell at the right time for once.
I'd rather take my time, and tread carefully. I have slipped back too many times this week (I had 22.5 BTC at one point, then held cash due to a badly timed sell, as it shot up on the 3rd while I was asleep. I tried to recover by buying in late, just as it peaked again - I lost about $500 that day)
The thing is, I have very limited resources, and I really don't think it will drop much below $110 again any time soon, so I'd rather not risk it.
* I bought those (literally) 15 minutes before it plunged from $250....
You are really saying you want to quit your job and live on trading 16.7BTC? I don't understand. How much money do you need to live per month? $300?
No, what I am saying is... if i can make a 3-4% profit every day - after roughly 140 days, I'd have approx. 1000 BTC. THEN I can quit work - as a 1% profit (after fees) every day would get me 10BTC per day - or (at todays prices) $1200 per day.
THAT is why I'm willing to do little trades for now, just to get to that target. - THEN I can quit my job.
Good luck with that, you've got a long slog ahead of you.
May 08, 2013, 07:22:01 AM
Bid sum keeps racing towards the all time high and the wall at 111 has shown to not be fake.
It seems to me that if there are no bad news, the trend is up.
I thought yesterday we would be going down to 90, but 57, 79, 97 makes sense. Next bottom 120.
It seems to me that if there are no bad news, the trend is up.
I thought yesterday we would be going down to 90, but 57, 79, 97 makes sense. Next bottom 120.
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