"TA can't possibly give you a greater than 50% edge" sounds awfully similar to "it is impossible to make a living by playing poker it is all just luck" to me.
Speaking as someone who doesn't day trade, doesn't know much about TA but makes a living from poker.
People tend to overrate themselves on pretty much everything that they're not amazing at (and ironically may sometimes doubt themselves if they are actually good), so obviously if they can't do it, it can't be possible. That's usually why losing players/traders say it's not possible, and winning players/traders question every single move that cost them money. +1 The Dunning–Kruger effect is a cognitive bias which can manifest in one of two ways: http://en.wikipedia.org/wiki/Dunning%E2%80%93Kruger_effect |
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I was looking at bitcoinwisdom. They show it on their site too but it is being DDOSed apparently, 404 for me. Meanwhile OKCoin is falling.
Pathetic, especially for a computer scientist. http://isitup.org/bitcoinwisdom.combitcoinwisdom.com is up. |
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Am I the only one questioning this downward trend?
Which downward trend? There are several. the last 3 hours in the more short-term view That will be the Chinese celebrating Easter. Confirmed. |
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Am I the only one questioning this downward trend?
Which downward trend? There are several. |
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Well, for a long term investor, it is really better to not check the charts and the forum for a half year, just like I did last year. Because this price movements are really silly  Day traders are dedicated, I give them that much. I track major bubble movements and overall sentiments, but some stuff I read on here is from 24 hour chart watchers who seem to make decisions and start drawing lines with every $5 fluctuation in price. I could never do that. I just hope they are successful enough to make it worth their while, let alone not lose their shirt. Seems like a sad way to spend a majority of one's time, especially with nice weather on the horizon (here in Canada anyways, I am hoping). Successful day traders provide a vital function. They are the liquidity providers, the decentral bankers of Bitcoin. They reduce volatility by profiting from it. They accomplish this without even intending to, by looking after their own interest. Key word there is successful though. Like I said if it is enough to make it worth your while, all the best of course. I fear there are less of you than what is actually admitted to as is always the case with "gambling", even educated gambling. Edit. Back on topic- fluctuation! Resume speculating. I've just been reading up on spread betting cos of Ristos thread. "According to an article in The Times dated 10 April 2009 approximately 30,000 spread bet accounts were opened last year, and that the largest study of gambling in the UK on behalf of the Gambling Commission found that serious problems developed in almost 15% of spread betters compared to 1% of other gambling.[8] In addition a report from Cass Business School found that only 1 in 5 gamblers ends up a winner.[9] As noted in the report, this corresponds to the same ratio of successful gamblers in regular trading.[10] Evidence from spread betting firms themselves actually put this closer to being 1 in 10 traders as being profitable, with a high number of clients suffering from the volatility that is supposed to be one of the benefits of spread betting." http://en.wikipedia.org/wiki/Spread_bettingHODL! |
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So the reason we went down 100's was fear of a potential China ban. Today we learn that China won't ban Bitcoin. What does everybody do? They sell.
Well done traders and sheep. Well done for being complete idiots.
Do you shout at clouds too? |
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we haven't seen the end of this until China is out of the picture (16th or 18th at the latest).
This is only the fourth or fifth time that the C word has caused panic in the playground. What makes you think it will be the last? |
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This article (dated today) seems to doubt whether the PBoC bank blockade is real: http://www.techweb.com.cn/internet/2014-04-03/2024364.shtmlHowever the Google translation is extra garbled "Bitcoin central bank ban the actual situation is questionable transactions chaos spawned free services [...]" and I cannot tell whether the reporter knows more than we do, or less. So no new fears, but the usual uncertainty and doubt? Thanks.  |
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I would be interested to hear Anonymints thoughts on why he puts such faith in the competence of the ruling elites.
In another thread perhaps? |
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My recommendation to all readers is to think hard before buying Samsung.
Too late, I already have one. Anybody have any pointers to a thorough security checklist/site for them? |
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Bitfinex 15m chart, lol  Bitcoins dead! Sell, sell, sell! |
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This feels like capitulation.
You can sense the despair on r/Bitcoin. the permabulls are starting to question themselves lol everywhere, on r/bitcoin r/bitcoinmarkets and on the speculation forum here Everybody's confused by what's happening, I certainly am. Don't you think this whole situation is stupid? Someone posts fake news on some Chinese blog, Chinese idiots panic, the rest of the exchanges follows, the news are confirmed to be fake, scared sheep keep selling... Meh.. https://www.tradingview.com/e/rnXhiGbH/Zoom out. |
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Google translate: "China's central bank reportedly has issued a document on March 18, April 15 asked to stop all Bitcoin transactions. So far the central bank noncommittal on the news." |
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LTC/BTC FTW |
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Interesting interview with Cody Wilson (guy who produced the world's first fully 3d printed gun) on BBC's HARDTalk, about decentralization, how technology aids this idea, and Bitcoin  UK only  but the guy has a load of other vids Thanks. |
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I do hope we go down a bit first, could do with some more cheap coins A pox on all cheapskates.  |
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China's slice of the total volume increased again from 86% to 88%.
The market is not the economy. |
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