Lose all your capital fast, with MatTheCat and his TA 101A!

[zimmah]

Not fiat. And not btc either, you fucking moron. Purchasing power, in whatever form works best.

I can't wait to taunt you when Bitcoin flops over well short of your delirious targets and starts tanking like a bitch, and like every other Alt that ever existed (You really should study Alt charts. They all pretty much behave the same way, as Bitcoin has, and as Bitcoin is currently behaving)

Then you will fucking learn all about 'Purchasing Power' in whatever form works best.

Your problem is that you prefer dragging others down over building yourself up. There is no helping that.

There's no need to be so hostile, mat is a perfectly fine human being. He's just very skeptical of Bitcoin and its potential, like many others who do not fully realize its potential. There's no shame in that, but it might hurt him in the long run.

To be fair though, none of us can predict the future so who knows, mat might be right and Bitcoin might fail. I don think it will, because it would probably have failed a thousand times by now if it would fail. But it is a possibility.

[Ibian]

Nope. He can't wait to taunt me when bitcoin goes to nothing. He is a shitty person who would rather drag people down than pull himself up.

What he is doing doesn't work. He knows it doesn't work. He has been given advice that would work, had he taken it, and he knows it. He prefers the victim role.

Mat is not a perfectly fine human being. He is an underachiever who likes the role.

[MatTheCat]

There's no need to be so hostile, mat is a perfectly fine human being. He's just very skeptical of Bitcoin and its potential, like many others who do not fully realize its potential. There's no shame in that, but it might hurt him in the long run.

Ibian and me have been hostile towards each other for years.....back in the Bitcoin @ $800 days, he used to arrogantly scoff at my bearishness, yet Bitcoin kept proving me right, but now the boot is on the other foot....although I haven't actually been long term 'bearish' on Bitcoin for a while, my bearish short term instincts and distrust of the market have kept me from taking and holding good long positions, so now he gets to ride on the high horse....and I told him to go fuck himself, basically.

Never mind being 'skeptical' of Bitcoin, I am skeptical of the Bitcoin market. It is highly manipulated, and being run as a cash cow for Chinese Bitcoin Cowboys and I cannot place any faith in this market, or the value that it attributes to Bitcoins.....

......and yeah, partially due to the fact that the Bitcoin market has been totally fkn hookey from very early on Since the days of MtGox and Willy bot, Bitcoin inflated, far too fast, far too soon, and is now struggling under it's own bloated weight. Never mind Bitcoin the idea, and focus on Bitcoin the reality.

We are in the midst (or maybe even near the end for wll we know) of a totally obvious manufactured pump, which will be inevitably be followed by a brutal dump, as usual, a minority will get rich, the majority will lose.....and then Bitcoin will be left with the very pressing issue of whether miners can afford to maintain the network or not, at whatever the post Halving pump DUMP, prices are.

[r0ach]

totally fkn hookey

[MatTheCat]

Are they *really* about to pump BTC up on it's next leg, already!?

[r0ach]

Are they *really* about to pump BTC up on it's next leg, already!?

[MatTheCat]

If/when the next financial meltdown comes, this is where the great wealth of the world is going to go, (and not into ropey nasty vapourware Bitcoin):

[r0ach]

Nice, Mat constantly complains that Bitcoin is "manipulated", and then ventures in to try his luck in the gold markets - the most manipulated market on earth haha.

[MatTheCat]

Nice, Mat constantly complains that Bitcoin is "manipulated", and then ventures in to try his luck in the gold markets - the most manipulated market on earth haha.

Gold is real.

Bitcoin is the very definition of 'vapour'.

When the great wealth of the world goes into panic mode, when equities are total shit, governments are looking increasingly insolvent, and central banks don't have anymore tools up their sleeves except for even more negative interest rates, where are is the great wealth gonna go? Into a experimental and flawed prototype digital token, that the Chinese government could kill at the snap of a finger if they had the mind to do so, or into a rare valuable commodity, produced in the very final moments of a dying star, and which has been sought after and viewed as a representation of wealth by humanity for thousands of years.

[adamstgBit]

If/when the next financial meltdown comes, this is where the great wealth of the world is going to go, (and not into ropey nasty vapourware Bitcoin):

*gold charts*

i use to think there was a good change gold would get most of the wealth xfer, but bitcoin would still outpreform gold because it market has so much more room to grow.

but you're  so consistently wrong in the most precise way one can be wrong, that now i'm thinking most of he wealth xfer will indeed flow into bitcoin, gold will collapse, and bitcoin will explode.

thanks for the heads up.

[MatTheCat]

If/when the next financial meltdown comes, this is where the great wealth of the world is going to go, (and not into ropey nasty vapourware Bitcoin):

*gold charts*

i use to think there was a good change gold would get most of the wealth xfer, but bitcoin would still outpreform gold because it market has so much more room to grow.

but you're  so consistently wrong in the most precise way one can be wrong, that now i'm thinking most of he wealth xfer will indeed flow into bitcoin, gold will collapse, and bitcoin will explode.

thanks for the heads up.

Not true.

I have been saying that I liked $800 range Bitcoin for months....my brother was surprised to learn that I had made hardly any money from the recent pumps.

"What do you mean you haven't made any money!?, You have been going on aboot this Bitcoin pump for ages!"

What I do consistently make, are fucking atrocious trading decisions. I called $677 Bitcoin around 2 weeks ago (not here). My plan was to get long from around $540 on the retrace. It never came. When bitcoin broke out through important resistance zones that I told myself would trigger a buy signal for me, I did nothing, cos it felt like I was chasing the market, and I have learned never to chase.

As for right now, I have no strong opinion on what Bitcoin is going to do next. It looks like it wants to break up. Indeed, the long AB=CD trade entry signal has already been triggered......but for me to finally take that trade, only for Bitcoin to finally do what common sense dictates that it must do, would be entirely fucking typical, and it would probably destroy my mental capital for good.

I find I can trust my 'judgement' on things. But my decision making is fucking shocking.

[Ted E. Bare]

Why don't you buy already instead of complaining. That the bitcoin price will be higher at some point in the next couple of weeks is a no-brainer.

[Hunyadi]

I called $677 Bitcoin around 2 weeks ago (not here).

 

[MatTheCat]

I called $677 Bitcoin around 2 weeks ago (not here).

 

Ach fuck...missed class.....got waaaaay more smashed on MEscaline today than I bargained 4.
Matthew 8 days ago
 
$677 Bitcoin incoming....
Matthew 8 days ago
 
Ouch, and was VP
Jeremy
8 days ago
 
the one you were awaiting for
Jeremy
8 days ago
 
$540 Woudl be a good buy in price, and about as deep as it is gonna cut.
Matthew 8 days ago
 
was very nice/cool as always
Jeremy
8 days ago
 
I will get on rewind..
Matthew 8 days ago
 
but you already know the hoag a bit, so ...
Jeremy
8 days ago
 
Normally I would be good by 10pm...but NOT today.
Matthew 8 days ago
 
you said 677$
Jeremy
8 days ago
 
not 577$
Jeremy
8 days ago
 
Mescaline speaking mate..
Matthew 8 days ago
 
yep.

Lifted from message box chat for my journal. (the '8 days ago' is outdated)

[inca]

Some people just aren't meant to succeed in life. You have been on these forums for years. You have had YEARS to enter a bitcoin position. You don't even have to believe in it, simply recognise the obvious trend.

One other thing, betting the house on the end of the world isn't a great investment strategy.

[Torque]

Mat makes me sad.  

Whilst I and others called the Bitcoin bottom incorrectly (partly because we bulls just don't care, and will suffer a little in the red just to continue to accumulate more because we know it's going to be HUGE one day), Mat called the bottom correctly at around $200/btc.  He was supposedly sitting on cash at the time, but because he sees Bitcoin as nothing more than a short term scammy trading vehicle, he refused to get long at $200/btc and just ride it out.  Probably just blew it all on more drugs.

Now he says that he's been calling the $800 level correctly the whole time.  But still refused to get long and continue accumulating at around $200, which he'd be in a nice long position and now up 300%.  Even with a 50% retrace, he'd still be way ahead of the game.

But alas, he's just been chasing it all the way up from $300 or so... just to sell at every 5% gain or loss, with more losses than gains.

Good going Mat.  You will forever be a loser, never a winning investor.

[MatTheCat]

Mat makes me sad.  

Whilst I and others called the Bitcoin bottom incorrectly (partly because we bulls just don't care, and will suffer a little in the red just to continue to accumulate more because we know it's going to be HUGE one day), Mat called the bottom correctly at around $200/btc.  He was supposedly sitting on cash at the time, but because he sees Bitcoin as nothing more than a short term scammy trading vehicle, he refused to get long at $200/btc and just ride it out.

Not true, cos it's worse than that.

I got long at $232...and held for fucking ages...saw $315, and then away back down to $100s, so when it got back up to $325, I sold......Bitcoin then kept going up, so I sent double the money I originally had at the exchange, and FOMO bought at $390, sat starting at $500, refused to sell on consolidation back down at $370, then despair sold at $300.

This was the point I decided to learn to trade. The focus of the early part of the course I took, was very much on range trading. I was kind of getting good at at, but was always getting FU'd out of positions, cos that is just what happens to n00b traders on Bitfinex, then I started to string together some good results, so decided to start this thread, which was the start of me learning that range trade setups don't work too well in the face of a raging bull market.....actually looking at stuff like MAs, and TREND IS UR FRIEND, wasn't until part 2 of the course (which is something I was pretty pissed about), by which time the market was already teaching me all about not betting against the trend....and now here I am.....

....one of the reasons that I haven't FOMO bought Bitcoin ages ago, like I done many times before, is cos I have learned not to FOMO buy. In most market states, this would be a very wise decision. During the Bitcoin pump, it has proven to be a terrible decision, and of course, at some point on this totally and utterly manufactured pump, FOMO buying will prove to be a terrible terrible decision for a great deal of market participants. It always does.


Otherwise at the moment you are right. I am a loser trader, and I make terrible decisions, even though my broader judgement is often pretty good. There are clearly psychological reasons for the conscious decisions that I make, that go against the more subtle, but wiser subconscious instincts, and nothing will force a person to take a good look at himself, in regards to all this sort of stuff, like trading. I consider all this simply part of the learning process, a learning process that I wouldn't undergo, had I just put $10K or whatever into Bitcoin in 2015 and forgot about it up until now.


Overall, I have given more to the Bitcoin market than I have taken from it. But since learning to trade, I have taken more from Bitcoin market than I have given to it, so despite having missed around 85% of this pump so far, I am perfectly happy with the way things are going, and quite frankly, I see learning not to give a fuck about missing some manufactured ramp (these things happen all time, all over the place), is just part of the necessary learning process.

[MatTheCat]

I am a loser trader, and I make terrible decisions.  Overall, I have given more to the Bitcoin market than I have taken from it.

lol.

I guess more ammo for the MatTheCat random quote generator.

[Kramerc]

God damn it, Mat.

In a way I think you actually have some of the skills necessary to be a good trader. Sadly, you don't (yet) have the ones necessary to keep you profitable, which are patience and discipline.

In my opinion you should take a break and then come back with a clear mind, wherever the market might be. Or, if you really don't believe in bitcoin's future and potential, just trade something else altogether, because I find it makes you (too) emotional about trading it.

[r0ach]

Mat, have you decided if the halving will occur yet?

I shall let TA tell me when/if 'The Halving' is coming.