Bitcoin Forum

http://img813.imageshack.us/img813/8359/capturetxg.png (http://imageshack.us/photo/my-images/813/capturetxg.png/)

make or break nightowls...what will it be?

and action

http://img842.imageshack.us/img842/1429/capturekr.png (http://imageshack.us/photo/my-images/842/capturekr.png/)

Whoever just cleared the last of my old sells at $6.50 has my gratitude.  Of course, if it hits $7 before it hits $6 from here, I'll wish I hadn't said anything publicly.

wow

good morning Europe! have a nice rally!  ;D   6.53

last call for bullville and points upward, this is the last call

woooooowoooooooooooooo

and 07:38 a 5K bidwall comes in at 6.5

I also made a bad sell on 6.5 but not too bad.  I think the time is ripe for another major sell.

maybe so, right on the hour the 5K wall dropped away

Wow, someone sold 288btc and that 5k wall disappeared, probably another fake bitcoinica position.

i love how people say 'fake walls' like they never adjust their own positions depending on market movements.

There's a big red bar around 5k large showing in clarkmoody, at around 8.00, so my guess is it was sold into.

Kudos for patience. I sold another batch too low, frankly I didn't believe they would rally this high, especially not right away.



@Thread:
Are trends some kind of new religion? Why should the trading price over time be aligned to straight lines, and even if they are at times, why should it have some special meaning?

if everyone believes in them they become self-fulfilling prophecies,  of course market adjusts and takes turns when confidence on a direction is overwhelmed.

Trend lines are drawn to reinforce the trend drawers opinion... plain and simple..

I could draw a million different trend lines for any opinion...

Much of it is self-fulfilling - but I think there is a grain of objective phenomena in them - if you want to buy and you see the price climbing you try to adjust your offer and people do that adjustment as if the price was moving linearly.

It's how often the predictions are correct is what counts.

+1

Support and Resistance.

The trend lines I see drawn here are too extreme to be a level of some stable market equilibrium. It would be psychological reverse-engineering at best.

But this is a double-edged sword. It will skew the probability distribution of short-term price, which may give a better-than-50% chance to guess right, but much more punishment if one guesses wrong. Kind of like the margin trading of predictions. Gets especially interesting when used in margin trading for maximum short-time profits but heavy risk.



It's skew. Third moment, no? Expectation value is current equilibrium price (first moment), variance is related to volatility (second moment) and skew is related to an ongoing trend (third moment). You can disassemble a situation into these three (and the higher ones if you feel like being cool).

With that, trends would be allowed to exist without allowing to profit off them in average, apart from risk analysis à la Kelly Criterion.

praise Bob

All I'm saying is, I see buying and selling trends that are supported by Support and Resistance lines.

Traders are creatures of habit, they tend to repeat their actions and the support and resistance lines point that way.

Chodpada, your a fan of the church of the sub genius yes ?

must have slack

haha, sorry, just realized Bob is the church of the sub main guy... :)

Thought so, just checking!

I see your paradox and inaugurate you as a genuine and authorized Pope of Discordia. :P

Is that a religious conflict with the Church of Sub Genius now? ???

they are often good predictors of action

direction is, of course, always murky

I understand what you're saying, I view these as lowest common denominator indicators, nothing more.

All Hail Eris!

busted.

on such a small volume? I doubt ...

edit
weekend....