Absolutely, standard 1/3 retracement. Right?Originally Posted by sonatine
Absolutely, standard 1/3 retracement. Right?
Lol. Genius paper trade.Where are we on the bubble chart?
Listening to Druff, and I am sure he is representative of many, there seems to be sentiment that this will rebound.
It will prolly do it's best to print a Doji star at the bottom of these three candles -then it will bounce 33%
Or is this thing so completely fractured - was this capitulation? It seems hard to believe but I say no.
Wonder if Druff played his "buy the dip" play he was contemplating.
No, I wasn't available to do it.
BTC currently running up big time. Currently $930
Now $950
Damnit, I was just thinking they were stabilized around $7xx and was going to buy some, but I was too busy driving between Vegas and Rincon and fighting with the hotel staff.
This is fckin crazy watching this!
Pattern trading would say that's it for now... Consolidate a bit.
I played the TSLA - Tesla Motors, cool electric sports car - bounce after cratering. Made pennies over longer period than this Bitcoin monster.
Minutes to realize a bounce vs days with TSLA
Last edited by Sanlmar; 12-09-2013 at 12:39 AM.
Druff,
Did you ever examine Macua as an opportunity for Chinese to expatriate cash. Impossible to get large funds out of China.
Junket proprietors accept cash for trip to Macau and chips.
Bitcoin fulfilled a similar opportunity for Chinese.
I was fascinated by this Macua scheme... Explains to some degree the crazy cash in Macua...
I'm on phone while playing and can't put anything nice together.
What is the quickest way to buy bitcoins and be able to sell them immediately atm?
I was looking at the coinbase site and they make you wait to clear an ACH so their is no way I'd buy something and not be able to sell it for days since the intent might be to buy and sell within hours.
There are places people meet locally with their wallets - Bitcoins and cash and trade. Often Starbucks or other coffee shop, for some reason.
This is how I have been doing it. Privately, I am always thinking this was a new back room poker thing for Bitcoins.
I can't remember how I found this ... I will google around.
I will bet it was Bitcointalk
I know this is method being used for people to buy and sell but I rather not do that since it's not really instant especially if one party can't meet the other right away.There are places people meet locally with their wallets - Bitcoins and cash and trade. Often Starbucks or other coffee shop, for some reason.
This is how I have been doing it. Privately, I am always thinking this was a new back room poker thing for Bitcoins.
I can't remember how I found this ... I will google around.
I will bet it was Bitcointalk
I'm not saying I will buy yet but I sort of want to be able to if they drop to the price and seem to settle in which going the in person route is time consuming when I'm looking for the the best click of a mouse method if I get on the ban wagon.
I use Mt Gox, can be a hassle getting cash to them though especially from Australia.I know this is method being used for people to buy and sell but I rather not do that since it's not really instant especially if one party can't meet the other right away.
I'm not saying I will buy yet but I sort of want to be able to if they drop to the price and seem to settle in which going the in person route is time consuming when I'm looking for the the best click of a mouse method if I get on the ban wagon.
Why not fund a Mt Gox account now and trade when you're ready and the price suits you. If the price doesn't suit you just withdraw.
If you do buy some coins at a coffee shop like stated above, you can transfer them to your Mt Gox account and trade immediately.
Personally, I like to be able to trade real-time and be able to change my mind as the market changes.
Obv Mt Gox is the way to go to trade in this manner.I use Mt Gox, can be a hassle getting cash to them though especially from Australia.
Why not fund a Mt Gox account now and trade when you're ready and the price suits you. If the price doesn't suit you just withdraw.
If you do buy some coins at a coffee shop like stated above, you can transfer them to your Mt Gox account and trade immediately.
Personally, I like to be able to trade real-time and be able to change my mind as the market changes.
Gonna tie up your cash. So you are kinda pledging to the Bitcoin Frat House.
BNP's concern about waiting can be lessened in knowing that your going to be waiting after this upside retracement anyway. It will prolly consolidate for a day or two.
Will it now make another leg down? (A,B,C) down. I think so. But let some other donkey confirm this for you first.
There is no rush. There's always another trade. The fun won't stop tomorrow.
do you do this for a living sanlmar?Obv Mt Gox is the way to go to trade in this manner.
Gonna tie up your cash. So you are kinda pledging to the Bitcoin Frat House.
BNP's concern about waiting can be lessened in knowing that your going to be waiting after this upside retracement anyway. It will prolly consolidate for a day or two.
Will it now make another leg down? (A,B,C) down. I think so. But let some other donkey confirm this for you first.
There is no rush. There's always another trade. The fun won't stop tomorrow.
if you do, i'd be interested in reading a technical analysis for noobz thread if you have the time and i'm sure a lot of other would be as well
Well to give an example:
Say I see the coin drop to a price I want to get in at. Let's say it plummets to $500 and I want to buy 10 of them. How can I snap them up at that price asap? Say four hours later they hit $800 and I want to get out now I want the ability to access the coins I bought and be able to move them immediately otherwise wtf is the point with a roller coaster market that is trading 24/7?
I guess I could fund an MT Gox account but realistically I'm not sure what I'd be willing to invest yet until I see a price.
Plenty of places will exchange coins for cash but you usually pay a premium.
https://cashintocoins.com/index.php?code=cmcharts are reputable I reckon.
Once you have coins you can send them to Gox and trade immediately, getting your cash out will require that you send them some identification.
It is the majority or my income. Day trading is not a way to get rich. It's a grind. My style is to make high EV trades and get out. I almost never hold overnight.
For me it's a way to earn a living with some freedom. I don't play well with others.
Daytrading also sometimes costs me. I called Bitcoin short at $1180 and sold at $952 and $1080. It went on to crater $650. I made my money but missed a longer term ride down. (in my defense I was getting charged huge juice for borrowing and didn't want to hold too long)
Absolutely love trading.
Book #1
Japanese Candlestick Charting Techniques by Steve Nison
First book I ever bought. Nison is an acknowledged expert.
Fibonacci numbers will blow your mind too. Google them now. Found everywhere in nature and are kinda gospel in all trading. The fact that BTC retraced 33% was a Fibonacci number.
Gonna sound funny given the endless, endless stuff available today but a local (Boston) trader does a radio show. His style is very accessible when you are first starting out. Tosses out trading ideas.
10 years ago, I'm guessing I went to his workshops and it was a great start and I've always been fond of his style. Haven't listened for a while but it is how I started.
Leo Leyden - Financial Focus.
http://www.financialfocusadvisoryser...com/radio.html
Edit:
WillieMcFML got me tooling down memory lane. I don't usually look back.
As the result of a little domestic rift (not as epic as BadGuy Josie but I was pissed) and my love of poker ... 2007 I ended up virtually living at Foxwoods for 6 months - sleeping in my car in the garage then comp'd hotel rooms. Black card allowed you free rooms almost everyday but weekends. That's all changed now.
Spent virtually every single waking hour at the tables. Got my black card. Foxwoods poker room was wild then. 80 or so tables filled every day. Ate at the buffet 3 times a day and worked out in the spa gym everyday using points on card. You could see shows, night club, you name it for free/points. Foxwoods gave away the store.. Times were good.
Bus loads of people coming in to play the only poker room east coast save Atlantic City. It was so fat I just never left.
Finally, got so cold in November I just packed it up one day and that was it. I could write a book about those six months and the sick shit I saw. The regulars there were all huge huge characters. Lotta famous faces.
I don't remember seeing Chinamaniac but we must have crossed paths.
Last edited by Sanlmar; 12-09-2013 at 04:01 AM.
I can't wait to hear how Druff does trying to time the shitcoins market. Sounds like a slam dunk given his logic on the radio show. Don't invest your life savings, son.
Although one thing would be ironic. The thing that made Micon a millionaire will also be Druffs downfall.
There you go Deal. I wrote Micon again.
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