Sweet, I can buy much more then too  Our internal indicators are flashing. Guess I would be buying right now.
my internal indicators are flashing too. "poor trader" warning is issued. Nice healthy pullback. What is interesting is that shorters are closing contracts not longs. So the big sells driving this are actual coins being sold rather than closed leveraged longs. Seems like a short term dip. Tarmi have you finally made some money on this 20 dollar move? Does it make up for your recent disasters?  You realise that's bad, like really bad? |
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I've always been amazed by your ability to always make money by always selling bitcoins and never buying any (to close your shorts).
Ha, well he's more of a troll and is completely against Bitcoin or unregulated assets in general. The high rate of failures and scams (which are bad, but natural given the unregulated nature of BTC) foster his cognitive dissonance what this is concerned even further ^^ What I said applies to the bear trolls in general. They always claim the price is going down and disappear during upswings. Either they are pure trolls only interested in annoying people or they are secretly buying when they are trolling he most. Yeah I believe they can be split up into two kinds of people: Those who only denounce Bitcoin and get something out of simply doing that, and those who try to influence the price, go short, and also reassure themselves that they did the right thing shorting. What about the majority of people here who try to influence the price, go long, and also reassure themselves they did the right thing longing? |
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Yeah and perfectly timed with news of another bunch of coins supposedly stolen. I guess a broken clock is correct at least 2 times a day.
Not really if you read my previous posts I'm not a perma bear, just a bear when its needed and a bull when its needed so your anology doesn't ring true I haven't been sitting here for three weeks saying down. Think what you like, I'm a trader, I make money when it goes up I make money when it goes down, if you cant see how it was plainly obvious it was going to go down then thats not my problem. Bulls were weak, we tried to break and stay above $300 on several occasions it failed and the market was toppy. When everyone is screaming moon its the best time to sell. When most of the rally has been on leverage its time to sell. The long term uptrend line is at $250, there was no reason not to test that at some point. |
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Yeah I made the picture as well but I wont tell you my name  Deffo didnt cause the dump though its been coming for a while, been tryna tell people for a couple of days. That hopium sure is a hell of a drug. Don't think it was too stupid to bet on BTC going above $300 over the last week. USD swap rates were going up, price was resilient. I think that this will be just another bottom and a new support to build the rocket, don't you agree guys? Or a continuation of the long term bear market we're in. Who knows yet. All I know is I tried to help people out the last two days by telling them it was gonna drop and they can trade both sides but as per usual nobody listens here in permabull land. |
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Yeah I made the picture as well but I wont tell you my name Deffo didnt cause the dump though its been coming for a while, been tryna tell people for a couple of days. That hopium sure is a hell of a drug. |
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Evolution dark net market admins have just run off with the users money. 43k btc. Still feeling super bullish everyone?
Did you predict that with your TA?  |
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Evolution dark net market admins have just run off with the users money. 43k btc. Still feeling super bullish everyone?
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About 10,000 coins were sold on Bitfinex alone to only bring us down $10, but the bid side remains the same. Take that info how you see fit. I know what that means to me.
Let me translate: Bull-market is ON. Bear-market is off. This 10$ move was an last failed attempt to reverse the trend. I see the we are going up. What is your basis? This experienced trader makes a valid point for something otherwise: https://www.tradingview.com/v/iWXmzaeG/Dont waste your time, no one left in here is a serious trader, if you actually want to hear the views of people who can trade both ways join whaleclub on teamspeak or trading view chat. |
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Someone doesn't understand what sent feedback is |
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Please remove the sticky tickers from their current position!
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Question - what are the chances the huge consistent volume on Poloniex is sort of a planned exchange of hands, so to speak? I am talking manipulation. I mean is this possible, likely, or how would we even know?
If anyone thinks these minuscule 100 000 USD/day (or less) unregulated markets are not manipulated they are being pretty naive. (Which is not to say much bigger markets aren't manipulated too, because they certainly are.) It's part of the terrain you have to accept if you are trading cryptos. As far as reading what specific manipulation is going on, what the manipulators are trying to accomplish, and whether and how you can trade with or against that for profit, that all gets a lot harder. But its easier if you are at least realistic about the landscape. Of course it's being manipulated to some extent but I think he means controlled by a very few. I.E. I think his question was really one of distribution. Yes and I'm saying that at 100 K USD daily volume it could be more or less controlled by a few or one person a lot of the time. Doesn't even need to be a big whale at all. These are just tiny amounts. When I've traded I've usually tried hard not to move the market too much and even then I still moved it. Anyone trying to move it can do the opposite. As far as distribution you never really know, other than your own holdings. And even if you know the overall distribution you don't know the distribution that is active in the markets right now. The latter is always much, much smaller. Same with any other coin. Yeah in a market like this manipulation is easy and extremely profitable. There are plenty of 'secret groups' making a killing in the alt scene trust me. Even btc is easily manipulated by a few people and anyone who tells you its not hasn't a clue what they are talking about. There are plenty of traders with more 10k+ btc, add a little leverage into the situation and form a group and you can make markets. Futures has been an absolute god send. Shorting 10x or 20x with even a small amount like 50 coins has serious profit potential on small $ moves. |
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If you don't understand why this is more likely to go down than up then I feel sorry for you. It's simple, too many leveraged longs. Don't get high on the hopium, good traders make money both ways.
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Yeah but everyone knows these companies just sell the coins straight away...
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A lot of 2013 bull run bag holders wil have sold and those who haven't are unlikely to just sell for break after holding for this long. They either beleive in btc in the long term or know that if we get up to their prices again we are likely on another bull run.
Margin trading was arounf before the 2013 bull run so thats a moot point. Plus it being easier to short is just the same as it being easier to long. In fact with instruments such as 20x and 50x futures the upside potential of margin trading has more of an impact than the downside during a bull run.
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One of the most concerning things is the Darkcoin community isn't screaming bloody murder about how the Dashcoin deal went down. You're all forever talking about how you'd have to buy such an enormous amount of masternodes to compromise the network. Yet what Evan has done is set precedent saying it is ok to take over a coin by buying out the dev and taking over the repo. This creates a MASSIVE centralization issue for Darkcoin. What you are all saying is it is ok for a company or government entity to approach Evan (or his eventual successor) with big $$$, buy him out, take over github, and then they have all legal rights to the coin. They don't have to spend a penny on the open market buying up coins, they don't have to find a vulnerability in the code, they don't have to buy 4000 masternodes. They just have to find the main developer's price.
And make no mistake, EVERYONE has a price.
Scary.
If you guys don't understand this then it's just pure ignorance. I have no idea which way an actual legal battle will go but the fact you think you can take over a coin by just buying out the dev and all will be okay is mind boggling. |
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An anecdote that it worked out for you that time doesn't mean it will continue to.
It's far from optimal when you can cut your losses and find a way better entry. That trade that netted you 20% overall could have netted you a significantly higher % by re entering when the market reversed.
Obviously everyone should trade how they feel fit but what about the people who opened longs at $900. Should they have held until the market reversed and get margin called. Of course if your trading spot its a different story.
Indeed, it was during the selloff to $160 and the losses would have been substantial had I cut them. Instead, seeing that we were at a likely capitulation/selling climax after whales sold us off in reaction to the Bitstamp hack news (perfect finale to the bear market, bravo guys) I wasn't about to sell into it. Instead I bought heavily into the selloff and secondary test when I saw it was on low volume, averaging out my trade downward to bank a great profit when it went to $300 on the reaction. Obviously the sell climax created a unique situation. Crazy trade that turned out to be though Ah well that's a completely different story then, cutting your losses into fairly obvious capitulation is not advisable of course. That's a very very unique situation and exactly why I just said an anecdote that worked for you shouldn't be taken as an effective risk management and trading strategy. At pretty much any other time after June last year anyone holding a long position with no stop loss will have been liquidated if it was a long term position. |
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I love lending USD at these rates, I wish it was always like this It sure is great if your just looking to make returns on your usd. If it goes up though you may have been better off buying coins I don't expect BTC to increase in average as much as I'm getting in interest by lending my USD. Of course not, otherwise you wouldn't be lending  |
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Come again?
Your right, let me rephrase. Average over the last 3 or so months (or from the 'bottom' if you like). An important point to remember when the longs were higher than this level in around July to around September the price was much higher. Liquidating $5 million longs in August last year at a price over double what we are now will have course been at far less slippage due to the price being double. Consider the bid sum as well which has only decreased over the last year, that means that this rally has been mostly on leveraged longs and not with 'new money'. EDIT: Also what happened with the price over the period from ath longs (mid july at a price of ~$640) and now? Then ask yourself why you should be wary of lots of longs being opened. The same amount of longs being open at $300 as $600 should be scary as fuck. |
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It's possible though margin cascades are hard to predict. There might not be enough selling to even get us sub $280 at this point, though we might go there again due to low volume in general. When the market leaders are bullish and want to go up, watch them shake out the market downward as many times as it takes to clean out enough supply to do it while supporting certain price levels. They have both the bankroll and patience and it is a profitable thing to do.
Those longs who are well capitalized would need sub $200 to get margin called, and that price is close to bear delusion at this point. I expect they would hold through, just as some of the well funded shorts are doing who allowed themselves to be trapped during capitulation. I expect they, on the other hand, are getting mighty nervous as their danger zone is in the $300s. Some of the bearish activity you see is likely groups of them protecting their positions--I saw this activity all the way up from the bottom--seems to work well enough until a whale with a pump bot comes along and decides to annihilate them.
Holding a long at this sort of interest rate through a ~25% decline is stupid and a terrible way to trade though. Its not so much a margin call cascade as a stop loss cascade that could be seen. If people are trading without stop losses then god help them! I've done it. Had a losing trade that ended up over 20% in the green because I held through. Not optimal, but it worked out. I'm a position trader so I'm holding onto trades for weeks and the cost of the loan is a very small percentage of my overall profits. I don't trade with stop losses. Whales actively gun for them, so why give them the bait? An anecdote that it worked out for you that time doesn't mean it will continue to. It's far from optimal when you can cut your losses and find a way better entry. That trade that netted you 20% overall could have netted you a significantly higher % by re entering when the market reversed. Obviously everyone should trade how they feel fit but what about the people who opened longs at $900. Should they have held until the market reversed and get margin called. Of course if your trading spot its a different story. |
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