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2081  Bitcoin / Bitcoin Discussion / Re: Forex traders: why did you come to cryptos? on: April 19, 2014, 11:38:16 PM
If you can, then just short all the shitcoins.  sounds like easy money.
What does shorting means?
2082  Bitcoin / Bitcoin Discussion / Re: Forex traders: why did you come to cryptos? on: April 19, 2014, 11:37:12 PM
Lol trading coins when you dont know whales moves is kinda crazy Smiley

That's why I am more and more considering this:
- Get closure for my lost money (Mt.Gox plus altcoin trading)
- Convert a monthly fixed part of my paycheck in BTC (as long as the BTC is undervalued)
- Invest said BTC into just-dice.com
- Convert back 10% of my remaining amount of BTC everytime it doubles (10/200 rule)
2083  Bitcoin / Bitcoin Discussion / Re: Forex traders: why did you come to cryptos? on: April 19, 2014, 11:27:06 PM
i'm not familiar with all the places you can trade pairs like forex.  i just know on cryptsy, you can't sell hobonickles or barbacue coins unless you buy some first.
Check kraken.com (major cryptos) and swaphole.com (minor cryptos).
2084  Bitcoin / Bitcoin Discussion / Re: Forex traders: why did you come to cryptos? on: April 19, 2014, 11:24:28 PM
Cryptos are 10 times easier to manipulate from their piss poor liquidity. Forex is dominated by large hedge funds, central banks etc. Crypto traders tend to be novice basement dwellers who panic at the first sight of any whale.
True Smiley
2085  Bitcoin / Bitcoin Discussion / Re: Forex traders: why did you come to cryptos? on: April 19, 2014, 11:21:21 PM
Unless you can short altcoins, you'd be trying to trade countertrend.
Is "shorting" the same as "whales manipulating the market" (altcoin parlance)?
2086  Bitcoin / Bitcoin Discussion / Re: Forex traders: why did you come to cryptos? on: April 19, 2014, 11:18:40 PM
for me it was

fee's
lack of community
the whole bank transfer polava
lack of volitility meaning only small profits, but requiring large sums just to get to see small profits
the fact that you are miliseconds-minutes behind the market makers, meaning your not abl to trade the changes the milisecond they happen.

yet with bitcoin. its easy, cheaper and faster to play the spread. using smaller lump sums to gain profits allows for use of many lumps to take advantage of other movements you could have missed with the first lump sum.

id never go back to forex, thats for sure.
Thanks. Yeah, feeling lonely behind my screen is not something I enjoy. Plus the need to spen a lot of money (I don't have more than some hundreds of euros). Please define "polava".

I am planning to trade on kraken, for the simple reason kraken has trailing stop, which no other exchange has. I don't know wich pair I will trade, though. Is XBT/EUR more dangerous than they, FLT/BTC on altcoins?
2087  Bitcoin / Bitcoin Discussion / Re: Forex traders: why did you come to cryptos? on: April 19, 2014, 11:06:52 PM
you can't trade both directions on cryptsy like you can on forex. 
altcoins have greater spreads, more pump and dump action
vs reliable price action.

but easiest money appears to be just buy and hold bitcoin.
Or invest in just-dice (investing, not gambling) Smiley
If I understand correctly, altcoins is more risky than forex?
2088  Bitcoin / Bitcoin Discussion / Forex traders: why did you come to cryptos? on: April 19, 2014, 10:59:58 PM
Hi,

I read several times (on altcoin boards) someone mentionning his/her experience on Forex. My question is: why are you on cryptos?
- mere curiosity (the person I read seemed to be heavily on cryptos, though)
- still on forex, just diversifying
- forex is too hard
- forex is too simple (!)
- forex requires much larger amounts of money
- ...

So you tell me. I instinctively think that forex is better than major crypto (LTC, BTC) itself better than minor crypto (cryptsy and mintpal) themselves better than the LTC market (or, god forbids, the DOGE market). But I might be wrong.

Care to enlighten me?

Thank you
2089  Other / Beginners & Help / Re: Investment strategy - 10/50 and trailing stop on: April 19, 2014, 06:59:52 PM
Thanks Colin! (for the compliment and for the typo)
2090  Economy / Economics / Re: (SSS) - A Sane and Simple bitcoin Savings plan on: April 19, 2014, 06:58:55 PM
You might be interested in this article of mine, where I mention the rule above (that I dub "10/200 rule") and add some more about day-trading.

Investment strategy - 10/200 and trailing stop (blog, most recent version)
Investment strategy - 10/200 and trailing stop (forum, outdated version)

I'd appreciate any inputs.
2091  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][BMR] Bitmonero - a new coin based on CryptoNote technology - LAUNCHED on: April 19, 2014, 03:48:24 PM
I just contacted http://cpucoinlist.com/ and sent this message:
Quote
Bytecoin (80% mined already, was confidential) and Bitmonero (launched yesterday, essentially a fairer bytecoin)
Both are CPU-only, thanks to the cryptonight algorithm
"CryptoNote brings the equality with an egalitarian proof-of-work pricing function, which is perfectly suitable for ordinary PCs. It utilizes built-in CPU instructions, which are very hard and too expensive to implement in special purpose devices or fast memory-on-chip devices with low latency."
2092  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][BMR] Bitmonero - a new coin based on CryptoNote technology - LAUNCHED on: April 19, 2014, 03:47:13 PM
There is a lot of issues with GUI to talk about. I propose to meet in Irc at 20GMT today. Is this time good?

I have some budget we can spend to motivate GUI developers:
1.000.000 BCN and 400 BMR.

Anybody can contribute some coins also for this purpose.
I might be busy by that time. I have a developper potentially interested.
2093  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [Exchange] SwapHole.com - API Available - 2FA on: April 19, 2014, 03:25:14 PM
Feature requests
(I will try to update it)

UX considerations
  • Nicer design - think cryptrader or at least mintpal for the chart and kraken for the general layout - update: on the way
  • Ability to move the tabs, like in any internet browser
  • Make "locked balance" and "insufficient funds" more explicit
  • Make order easier to understand (trailing stop particularly
  • Weighted average like at kraken.
  • On the deposit/withdrawal window, clicking on the Current balance selects the whole of it in Amount (like at Mintpal).
  • When the  "not enough funds!" message appears, add a second line: "maybe you forgot to unlock XXX %currency%?". I believe that would help people and reduce the amount of mail you'd receive.
New features
  • Combined orders, especially "buy+sell" (as soon as bought at X, immediately sell at X+Y%, useful when expecting a pump) sell+buy (the opposite, useful when expecting a dump) and "Trailing stop or take profit, whichever comes first" (useful for the 10/200 rule).
  • Estimated total in BTC (like mintpal, cryptsy, kraken...).
  • Possibility to edit an order, instead of deleting it and recreate it.
  • For withraw option, clicking the amount should be default select the whole amount (like in Mintpal). Right now, one has to enter it manually or to copy-and-paste it.
  • Possibility to buy "for x BTC worth of given_crypto" like at kraken.
  • Withdrawal should not be processed once or twice per day. Please automate this
  • Permalink for markets, preferably à la Mintpal (that is, meaningful permalinks, not like Cryptsy).
Plus, I'd be interested in getting a history of the daily volume. I understand that the exchange might not want to show this if the volume is not rising but even in that case, this added transparency would speak high of the exchange. I don't put in the list because this is not something I expect from the exchange itself - although as I said it would better.
2094  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [Exchange] SwapHole.com - API Available - 2FA on: April 19, 2014, 02:45:26 PM
You might be interested in reading my newest article:
http://david.latapie.name/blog/investment-strategy-10-200-and-trailing-stop/

(a bit outdated version is also available on bitcointalk)
2095  Other / Beginners & Help / Investment strategy - 10/50 and trailing stop on: April 19, 2014, 02:25:25 PM
(major updates available on my blog)

Disclaimer:
1. I did not apply these rules in the past and I lost a lot of money.
2. I am starting to apply them now but it is still too early to say if the work. Caveat emptor.
3. These are well-known rules, I didn't invent anything.

- Don't invest more than you can afford to lose
- Buy low, sell high - which means selling when it seems that it could still go higher
- Don't panic buy, don't panic sell (easier said than done)
- Identify what can go very high and buy
- Everytime it doubles, sell 10% or your remaing amount. After three  doubling (and thus three selling), you paid back your investment; even if the price crumbles now, you would still make a profit. I call this the "10/200" rule and credits go to rpietila and kmicic77
- Place trailing stop orders at 10%. If the exchange doesn't accept trailing stop, move to another exchange

- best option if trailing stop is not available: stop loss (a.k.a. seat belt)
- third best option (always available): take profit

"Take profit" is implemented in any crypto exchange that I know of. You say at wich price you will sell (for instance, I'll sell my crypto I bought at 1000 once it will reach 1070).
"Stop loss" is like a seat belt for your money (if the price goes below 1010, sell). Would you drive a car without a seat belt? Well, on most crypto exchange, you are driving without a seat belt. That's probably one of the reason why money go so high: no one wants to lose and the best way to ensure this is to have the price go higher. Still, this is not a sane attitude.

Finally, trailing stop is a the best one. It will sell not at a fixed price, but at a percentage of the current price! It depends much less on the faith you have on the crypto so it is much less about luck. Of course, you have to choose the percentage carefully plus, there is a chance that the percentage brings the price lower than the one at which you bought (if the price goes down just after you bought)

You buy at 1000. The price moves to 1100 then when you come back, it is down to 900
No conditional order: you lost money
Take profit at 107%: you earnt 70
Stop loss at 1010: you earnt 10
Trailing stop at 10%: you earnt 90

Of course, the price could spring back from 900 to 1200 and then you would get 200 with no conditional order. Much like when you bet at the Russian roulette and win. Does still make Russian roulette worth it? I let you be the judge.

Plus, consider the stress. Do you want to be constantly thinking about the charts and have no life? There are three variables (or operands) in calculating the cost of something, and people rarely consider the three of them. By decreasing order of attention (not of importance), these are:
- money
- time
- energy

With no conditional order, either you are careless, or this money doesn't matter for you or you'll spend a lot of (emotional) energy. Personally, this is the third one. Now the added monetary value is not worth the extra energy I would spend.




I know only two crypto exchanges with trailing stop: kraken.com (for major cryptos) and swaphole.com (for minor cryptos)

I'm still pondering one thing (ouf of the "will my strategy work" question, of course): should I place trailing stop orders on the money I plan to sell? Ideally, I would use a combined order (trailing stop or take profit, whichever comes first), but I don't know any market which allows it.

I understand this may sound complex. So please don't hesitate to ask, I'll be delighted to reword it to make it easier to understand.
2096  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [Exchange] SwapHole.com - API Available - 2FA on: April 19, 2014, 01:34:24 PM
A trailing stop is much better IMHO - but I've never used the interface so I can't comment. I admit Swaphole got my attention with that feature. I wouldn't hold many altcoins without a stop loss. The price reversal is so dramatic and comes like a thief in the night  Grin
I completely agree. That is why I am considering moving my money from mintpal to swaphole, once I understand trailing stop. Being added on cryptrader would be a big plus, I will contact Brad from cryptrader.
2097  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [Exchange] SwapHole.com - API Available - 2FA on: April 19, 2014, 01:28:44 PM
Which percentage would you place on the trailing stop? 10%, more, less?

In the tradition of the stock market 10% make sense. Get out because the trend went against you. If you use a 10% stop loss you can lose on two out three trades and still make money as long as you get a decent gain on the third.
Thanks. I was thinking of using a trailing stop instead, not a "regular" stop loss order.

But I have a hard time understanding how the window works



"Amount" is simple
"Limit (BTC)", I guess it means selling at a treshold price. If this price is reache, the it sells (take profit). If check the "stop" box, the "take profit" becomes a "stop loss", right, and if I enter something on the "Stop rate", then it becomes a trailing stop.
Problem is, all these entries are mandatory, so I don't understand how to make it.

Could someone post an example filled screenshot with comments?
2098  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [Exchange] SwapHole.com - API Available - 2FA on: April 19, 2014, 01:18:21 PM
Which percentage would you place on the trailing stop? 10%, more, less?
2099  Alternate cryptocurrencies / Altcoin Discussion / Re: MC2: A cryptocurrency based on a hybrid PoW/PoS system on: April 19, 2014, 12:05:41 AM
Not sure yet, but it'll be GPU mineable from the get go.
I find it a big concern that a coin requires an expensive graphic card to be mined. Sorry, but "democracy" and "you need to have expensive hardware" don't mix well together.

For me, everything that requires more than 25 dollars of hardware cannot be democratic. 25 dollars is the price of an Arduino, by the way.

My rant is not targeted toward MC2 (which looks interesting, if not I would not even bother posting this) - it is targeted toward any PoW coin. Fair distribution is hard enough by itself, no need to add an extra barrier to entry.
OTOH, the closest to a fair distribution than I can think of it countrycoins's airdrop. It did not work out, I give you that, but still, at least on paper, it is much more democratic than any other coin model.

In the end, the Gini index shall be the judge.
2100  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][BMR] Bitmonero - a new coin based on CryptoNote technology - LAUNCHED on: April 18, 2014, 11:57:31 PM
Do you get "Error: refresh failed: daemon is busy. Please try later. Blocks received: 0" all the time? It was not the case some hours ago. I restarted the daemon and the wallet many times.
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