windjc
Legendary
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Activity: 2156
Merit: 1070
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December 01, 2013, 05:55:08 AM |
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The Chinese obviously woke up on the wrong side of the bed this morning.
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Davyd05
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December 01, 2013, 05:55:20 AM |
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Didn't see all of them but there was a 1000 sell in there for sure.
3300 by the volume bar |
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Nolo
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December 01, 2013, 05:56:11 AM |
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Is it time to panic, puke, find the tallest building and jump, or just hold and weather this thing out?
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Davyd05
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December 01, 2013, 05:56:16 AM |
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The Chinese obviously woke up on the wrong side of the bed this morning.
from the charts they bounced first..couple more bulls there than I thought and cavirtex has dropped a wopping 15 dollars.. I need it to be a parity to even risk a trade lOOL |
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windjc
Legendary
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Activity: 2156
Merit: 1070
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December 01, 2013, 05:56:45 AM |
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Is it time to panic, puke, find the tallest building and jump, or just hold and weather this thing out?
You go ahead and jump. If you make it, I'll let you know how it went tomorrow. |
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OldGeek
Sr. Member
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Activity: 266
Merit: 250
Blitz:The price affects the perception of the news
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December 01, 2013, 05:57:11 AM |
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DISASTER STRIKES!
72 whole hours of gains wiped out!
Stop loss @ 10 below your top saves the day sometimes. Yeah. Panic is recommended. Sell quick. |
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Nolo
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December 01, 2013, 05:57:33 AM |
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Is it time to panic, puke, find the tallest building and jump, or just hold and weather this thing out?
You go ahead and jump. If you make it, I'll let you know how it went tomorrow. I love you guys. |
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Vycid
Sr. Member
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Activity: 336
Merit: 250
♫ the AM bear who cares ♫
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December 01, 2013, 05:58:27 AM |
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DISASTER STRIKES!
72 whole hours of gains wiped out!
Stop loss @ 10 below your top saves the day sometimes. Yeah. Panic is recommended. Sell quick. No, once the panic sets in you're too late. |
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windjc
Legendary
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Activity: 2156
Merit: 1070
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December 01, 2013, 05:58:32 AM |
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I think we've ~roughly~ found the bottom.
famous last words? That was an ugly 2 hour candle in China. Worst of the entire rally. Luckily the west is basically out partying or asleep. |
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Davyd05
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December 01, 2013, 05:59:01 AM |
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DISASTER STRIKES!
72 whole hours of gains wiped out!
Stop loss @ 10 below your top saves the day sometimes. Yeah. Panic is recommended. Sell quick. and you just saw..the buy support reap all the rewards..gogo whale.. also could tell that was happening almost as soon as I saw an uptrend in china lol |
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Vycid
Sr. Member
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Activity: 336
Merit: 250
♫ the AM bear who cares ♫
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December 01, 2013, 05:59:51 AM |
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MtGox says nomnomnomnom.
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kajigger
Newbie
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Activity: 26
Merit: 0
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December 01, 2013, 05:59:55 AM |
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pew pew
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seleme
Legendary
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Activity: 2772
Merit: 1028
Duelbits.com
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December 01, 2013, 06:00:27 AM |
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that's 0.3 BTC made in minutes  |
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Vycid
Sr. Member
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Activity: 336
Merit: 250
♫ the AM bear who cares ♫
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December 01, 2013, 06:00:37 AM |
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A+ correction, would scoff again.
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OldGeek
Sr. Member
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Activity: 266
Merit: 250
Blitz:The price affects the perception of the news
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December 01, 2013, 06:01:26 AM |
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Looks like a good bear trap.
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Davyd05
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December 01, 2013, 06:01:28 AM |
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I wonder if the 0% trading fees at the largest exchanges (china & gox) is contributing to this misleading stability.
wouldn't it be more likely to cause instability greater swing trade gains Can you explain by what mechanism that could possibly work? My experience and several academic papers would disagree with you. For example: http://m.rfs.oxfordjournals.org/content/25/11/3389.shortCompetition among trading platforms has considerably reduced trading fees in stock markets. We show that this evolution is not necessarily beneficial to investors. Although they increase gains from trade when a trade happens, lower trading costs can induce investors to post limit orders with a smaller execution probability. In this case, gains from trade are realized less frequently and investors can be worse off.
In other words, lower fees leads to a full book and thus more stability. I thought because it was a break..from them not necessarily permanently 0% trading fees you'd see more variance.. pretty much what we saw when the bots weren't configured for it, Thursday. Gox that is I wasn't watching much on Thursday because I live in the US (Thanksgiving holliday). However, in the past temporary 0 fees on gox has generally led to more stability. So if I understand correctly, you are saying that people will rush to trade since the fees will be going back up? There may be some truth to that, but the book will still be thicker, especially close to the price. here is that volatility I spoke of.. I think a whale played that nicely.. drops it into the 10xx and then it slows down starts to rebound in china.. and buy support all the way back to 1151 on gox. However not sure about the volume relation of sells to buy in that swing |
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KFR
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December 01, 2013, 06:02:11 AM |
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Looks like a good bear trap.
Indeed. I was just about to comment on how they seem to make excellent bear traps in China.  |
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ablewasiereisawelba
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December 01, 2013, 06:02:21 AM |
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Rule #1: Don't sell bitcoins during a downward trend.
Rule #2: If you sell bitcoins during a downward trend, make sure it is a downward trend immediately following a rally.
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