Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[auto2nr1]

Newbie trader here. Would like some trading tips. I see consolidation is happening right around $105.00-$106.00 area for the past few hours. Usually does this mean it will break out upward after or will it drop? Thanks in advance.

[adamstgBit]

Newbie trader here. Would like some trading tips. I see consolidation is happening right around $105.00-$106.00 area for the past few hours. Usually does this mean it will break out upward after or will it drop? Thanks in advance.

their no way to know where its going next...

with that said

180$ in 14days 

[MickeyT2008]

Newbie trader here. Would like some trading tips. I see consolidation is happening right around $105.00-$106.00 area for the past few hours. Usually does this mean it will break out upward after or will it drop? Thanks in advance.

their no way to know where its going next...

with that said

180$ in 14days  

This is bitcoin, the word 'usually' means nothing here.

Edit: A lot of people find that they either break even, or would have more BTC if they'd just kept them as opposed to daytrading.  The trouble is that due to the small size of this market it only takes one person with a large amount of BTC to decide to buy or sell to send the trends off in the opposite direction.  These people know this and use it to their advantage, this means that often if you've sold your BTC and are hanging out for a lower price that they'll unexpectedly buy in, the price shoots up and you're left with a choice of hoping it comes back down or buying in for more than you sold for. (or dump them as you're waiting for the price to peak, crashing it back down again).  For this reason I prefer to try to keep to BTC as much as possible, swapping into USD for a short time to gain a little profit because staying in the opposite currency from the one you're trying to build up for a long time can be dangerous.  However, I still get it wrong half the time anyway, you'll have to develop a strategy that works for you.

It's far too easy to let emotions get in the way of your strategy too, like hanging out too long for a good deal or caving in too early.

Edit: Basically I can't advise you how to trade because I'm not that good at it, but I can point out ways that I've discovered to get it wrong.

[Adrian-x]

Newbie trader here. Would like some trading tips. I see consolidation is happening right around $105.00-$106.00 area for the past few hours. Usually does this mean it will break out upward after or will it drop? Thanks in advance.

If you are new to trading just save you Bitcoin's, and move on, If you are a veteran trader, the Bitcoin market is manipulated by deep pockets and every angle of psychology, not to mention it happens at the accelerated rate of IP traffic in comparison to road traffic (and MtGox- has the only traffic Light in town and uses it to slow peek hour traffic to a stop whenever the gods think it is a good time).
 
Think of the players as a darting school of fish on steroids and whale as super fast barracuda, playing musical chares to some hi-paced symphony while they gorge on fish.

Oh yes, I almost forgot, it always goes up so buy now, and if it starts going down you are not buying fast enough, so buy more.

[BitAddict]

Newbie trader here. Would like some trading tips. I see consolidation is happening right around $105.00-$106.00 area for the past few hours. Usually does this mean it will break out upward after or will it drop? Thanks in advance.

Be careful, they will tell you the opposite they think is going to happen to take your money 

[vokain]

Newbie trader here. Would like some trading tips. I see consolidation is happening right around $105.00-$106.00 area for the past few hours. Usually does this mean it will break out upward after or will it drop? Thanks in advance.

Be careful, they will tell you the opposite they think is going to happen to take your money  

LOL. This doesn't apply to me, plus I'm small-time. If I say something that turns out false, then I was just plain wrong, not trying to trick people.

edit: but yeah, I know what you mean. Sometimes I think that too.

damn, reverse-reverse psych. I like your technique good sir

[adamstgBit]

Newbie trader here. Would like some trading tips. I see consolidation is happening right around $105.00-$106.00 area for the past few hours. Usually does this mean it will break out upward after or will it drop? Thanks in advance.

Before bitcoin i had never traded anything, didn't know fuck all about TA. I made a few mistakes, sold low and bought back higher... but i learnt my little lessons, and in the end most of my trades were quite good!
I guess my advice would be: you can't win if you don't play.

[Cablez]

their no way to know where its going next...

with that said

180$ in 14days 

What the heck happened to bottoming out in Nov.?  I went all out.......  

[inbox]

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[BitAddict]

Newbie trader here. Would like some trading tips. I see consolidation is happening right around $105.00-$106.00 area for the past few hours. Usually does this mean it will break out upward after or will it drop? Thanks in advance.

Be careful, they will tell you the opposite they think is going to happen to take your money  

LOL. This doesn't apply to me, plus I'm small-time. If I say something that turns out false, then I was just plain wrong, not trying to trick people.

edit: but yeah, I know what you mean. Sometimes I think that too.

I was not speaking about any answer in particular. Just that in general you need to be careful. 

[hlynur]

Newbie trader here. Would like some trading tips. I see consolidation is happening right around $105.00-$106.00 area for the past few hours. Usually does this mean it will break out upward after or will it drop? Thanks in advance.

with the current market situation i wouldn't recommend trading within the narrow price swings.
always consider if your possible gain in profit is worth the risk of buying back in at loss.
that risk depends if you're more oriented towards shortterm or mid to longterm trading.
(i'm longterm so i don't care about 10- 20 $ swings)

I recommend just starting to read the thread for a while and don't hesitate to ask questions.
after some time you are able to filter out the useful posts from the fud.

(ah and somebody's member status isn't always suggesting more trustworthiness in his comments,
the colour of ignore button helps to separate the wheat from the chaff from time to time)

[adamstgBit]

never seen virtex so active.

[solex]

Those virtex buy orders are hilarious. Like trying to hide some elephants in long grass!  

[Frozenlock]

never seen virtex so active.

WTF is happening there? 

[Frozenlock]

This video is over 2 months old.

And why would Kevin O'Leary use such a small exchange?

[ChartBuddy]

[adamstgBit]

This video is over 2 months old.

And why would Kevin O'Leary use such a small exchange?

cavirtex is first class, deposited funds can clear in less then 10 mins. Its the best exchange for canadians

[Richy_T]

edit: It's hard to trust people giving out random TA so this is why if you want to base buys/sells on TA, you ultimately need to do your own TA. Even if I don't agree with some people's TA, many times I see something in the charts that I did not look for myself, and that helps.

You need to follow along for a while too. Many of the people claiming to be getting it right all the time are like the gambler who thinks he's ahead because he made the big score but discounts all the times he didn't do so well.

[Frozenlock]

This video is over 2 months old.

And why would Kevin O'Leary use such a small exchange?

cavirtex is first class, deposited funds can clear in less then 10 mins. Its the best exchange for canadians

So? If I have many thousands of dollars worth of buying to do, why take such a small exchange?
Not only the slippage would kill you, but so would their 3% fee.

[hlynur]

Newbie trader here. Would like some trading tips. I see consolidation is happening right around $105.00-$106.00 area for the past few hours. Usually does this mean it will break out upward after or will it drop? Thanks in advance.

with the current market situation i wouldn't recommend trading within the narrow price swings.
always consider if your possible gain in profit is worth the risk of buying back in at loss.
that risk depends if you're more oriented towards shortterm or mid to longterm trading.
(i'm longterm so i don't care about 10- 20 $ swings)

I recommend just starting to read the thread for a while and don't hesitate to ask questions.
after some time you are able to filter out the useful posts from the fud.

(ah and somebody's member status isn't always suggesting more trustworthiness in his comments,
the colour of ignore button helps to separate the wheat from the chaff from time to time)

The pro has spoken.   Haha just fucking with ya.

i wouldn't consider myself pro in any sense, i made lot of mistakes after the burst of the bubble
(bought in at loss more than once because i got shaky hands in fear of missing some action).
my advice is just based on my experiences when i took part in this game and on what i think i should have sticked with then...
everybody has to figure out on their own what style of trading suits them most.

besides that i gave up hope to find a pic of a drunken monkey in front of a computer on the web