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

[Last of the V8s]

Hello hello
remember it wouldn't even die if the price was utter terrifying shit, nothing was going on and the blocks slowed down a hella lot
it gets ill
it recovers

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[Last of the V8s]

https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2019-June/017012.html
[bitcoin-dev] Transcripts from coredev.tech Amsterdam 2019 meeting

sup?

https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2019-June/017023.html
[bitcoin-dev] Transcripts from Breaking Bitcoin 2019

Testers are out.

[fillippone]

HELLO GUYS!

I'm not active a lot lately cause of boring real life stuff, but when i can i'm always here hiddenly lurking........
today i saw an interesting pm   so i'm just passing by seeing what's new on the WO........ so, 'sup?  

^
Maybe just in time to get your HAT 3D'ed

Mic is referring to this, I think:
https://bitcointalk.org/index.php?topic=178336.msg49549748#msg49549748

[d_eddie]

Weekly close looks very ugly and points to a trend reversal.

We might revisit 6k range in the coming weeks/months.

We might and we might not, lol.

Im more on the bearish side right now.

65% going to 6k vs 35% going to 9k.

Im looking for a short entry here.

You still bearish, criptix?

Do you still assign a 65% chance that we will reach $6k before $9k?  or have your odds changed?  

Did you enter a short, and if so was there a stoploss that got triggered?  Should be running tight stop losses, no?  Any margin trading "experts" want to chime in, here?

I am no expert, and I only do small time margin trading as an aside.

Stop losses are necessary sometimes, but in my experience it's better to set loose (untight! Ask jbreher if in doubt) stop losses while keeping a hedging (opposing) position on another trade leg. This often allows me to cash a bit on both legs if there is jitter around the thresholds. In any case, as one position goes more and more into loss, the other goes more and more into gain. Ideally, they should more or less balance out. At the very least, this allows me time to think: I have a choice of cashing out a bit from one or swallowing a bit of loss from the other. When the direction is clear, it is possible to exit one leg gradually - or abruptly, whatever.

Depending on the exchange's policy, I might NOT be able to use the unrealized gains as margin if I don't "realize" them (cash them out). So I do my own research, or I might find my position liquidated even in the middle of huge paper gains. What really helps is keeping the leverage very low - ideally, under 1, which actually means no leverage at all. By doing so, if the losing position gets increasingly worse, I can at least cash out the other one and gain some breathing air.

Disclosure: I have such a setup at the moment. The short position bought me some tasty bacon, but the long position is suffering. I'm going to be liquidated if the price falls below 3k. Yes. My liquidation is well below 3k. That's what I mean by "underleveraging".

One fine day I'll jump back on the wagon and stop trading for good. Until that wagon day comes, I hope my confession is helpful.

[JayJuanGee]

Disclosure: I have such a setup at the moment. The short position bought me some tasty bacon, but the long position is suffering. I'm going to be liquidated if the price falls below 3k. Yes. My liquidation is well below 3k. That's what I mean by "underleveraging".

I am a little bit confused by this assertion.  I believe that I understand the setting up as low leverage that allows more BTC price movement before your would be forced out of the position; however, I am a little confused how longs would be unprofitable, currently with the recent price move up.

I am supposing that you entered your long and your short at BTC prices that were decently higher than today, such as in the $8,200 or higher arenas?

But if you had entered both a long and a short, yesterday-ish, at the time that criptix was asserting his bearishness, in the $7,600 price arena, then the long would be doing much better than the short, currently... right?   and if you enter with decently low leverage, then perhaps you could rest assured that you would not get liquidated out of your short position until $10k plus.. but at the same time, if BTC prices start to get close to $9k, you might want to manually close out of that short position rather than losing more and more as the BTC price might have decent chances to get close to forcing you to close your position.  

So, it seems that your perspective on strategy is going to be influenced quite decently by when you entered the position, you are likely going to have to spend a decent amount of time watching the market and even trying to assign odds to various BTC price directions on an ongoing basis in order to figure out whether the odds would be in your favor to close a losing position early or to re-establish your bets to figure out if your trading stash is growing or shrinking.

I do appreciate your stated approach, d_eddie, in which you are setting aside some of your profits from time to time (taking them off the table), but still I would imagine that sometimes there is going to be shrinkage of the trading stash and even internal questioning about whether the size of the trading stash is enough (temptations to get greedy by redeploying profits into the trading stash that previously had been stashed away).

[jonoiv]

Classic WO reaction to the bitsptamp ddos at the head and sholders neckline.

[El duderino_]

^Are you even a BTC-minded one?

[criptix]

Weekly close looks very ugly and points to a trend reversal.

We might revisit 6k range in the coming weeks/months.

We might and we might not, lol.

Im more on the bearish side right now.

65% going to 6k vs 35% going to 9k.

Im looking for a short entry here.

You still bearish, criptix?

Do you still assign a 65% chance that we will reach $6k before $9k?  or have your odds changed?  

Did you enter a short, and if so was there a stoploss that got triggered?  Should be running tight stop losses, no?  Any margin trading "experts" want to chime in, here?

Stop loss not triggered yet, but was close. :S

8200 would be the turning point for me.

Right now im still letting my short open, but if we hold here i might just take the loss and close the position.

Will see what happens.

Regarding tight stops, it really depends you your leverage.

In this choppy market high leverage is suicide, i would not advise to use more then 3x, you also can hedge with a 1x short just in case.

[JayJuanGee]

Classic WO reaction to the bitsptamp ddos at the head and sholders neckline.

To the extent that there is some factual reality to a bitstamp ddos, which remains news to me (likely a FUD spreading attempt since it is coming from you):  you are coming off as a bit desperate in your attempted cave allegory readings of the bitcoin price dynamics, but I suppose you are not appearing any worse desperate than you were a few weeks ago...

I will concede that there is still some hope that your ongoing negative balance $6k BTC sell orders might be profitably redeemable in the future (absent the opportunity costs of your dumbass having had sold too much too soon).

I would applaud your opportunity for having had learned a lesson, but through your persistently stubborn posts, you have already sufficiently demonstrated that you don't lurn much too easily.    So, in that regard, it remains difficult to feel sorry for you, too.  

[jbreher]

It's the GF's fault. She drags me off to bed earlier ...

You ol' dawg, you.

[bitcoinPsycho]

Classic WO reaction to the bitsptamp ddos at the head and sholders neckline.

To the extent that there is some factual reality to a bitstamp ddos, which remains news to me (likely a FUD spreading attempt since it is coming from you):  you are coming off as a bit desperate in your attempted cave allegory readings of the bitcoin price dynamics, but I suppose you are not appearing any worse desperate than you were a few weeks ago...

I will concede that there is still some hope that your ongoing negative balance $6k BTC sell orders might be profitably redeemable in the future (absent the opportunity costs of your dumbass having had sold too much too soon).

I would applaud your opportunity for having had learned a lesson, but through your persistently stubborn posts, you have already sufficiently demonstrated that you don't lurn much too easily.    So, in that regard, it remains difficult to feel sorry for you, too.  

10 WO merit for you jjg 

[jbreher]

Communiqué, G20 Finance Ministers and Central bank Governors Meeting, Fukoka.(Jun.8-9,2019)

https://www.mof.go.jp/english/international_policy/convention/g20/communique.htm

Most notable: not a single instance of 'climate change'.

[d_eddie]

Disclosure: I have such a setup at the moment. The short position bought me some tasty bacon, but the long position is suffering. I'm going to be liquidated if the price falls below 3k. Yes. My liquidation is well below 3k. That's what I mean by "underleveraging".

I am supposing that you entered your long and your short at BTC prices that were decently higher than today, such as in the $8,200 or higher arenas?

That's right. My trades are multi-day affairs more often than not.

But if you had entered both a long and a short, yesterday-ish, at the time that criptix was asserting his bearishness, in the $7,600 price arena, then the long would be doing much better than the short, currently... right?

Of course.

So, it seems that your perspective on strategy is going to be influenced quite decently by when you entered the position, you are likely going to have to spend a decent amount of time watching the market and even trying to assign odds to various BTC price directions on an ongoing basis in order to figure out whether the odds would be in your favor to close a losing position early or to re-establish your bets to figure out if your trading stash is growing or shrinking.

Well there is a balance to be found between getting greedy and being too much of a pussy. That's one of those things you only learn by doing, by investing time - and money too (the only "trading lessons" that matter are those you pay for, IMO).

I do appreciate your stated approach, d_eddie, in which you are setting aside some of your profits from time to time (taking them off the table), but still I would imagine that sometimes there is going to be shrinkage of the trading stash and even internal questioning about whether the size of the trading stash is enough (temptations to get greedy by redeploying profits into the trading stash that previously had been stashed away).

Since I started taking profits off the table at regular time intervals or regular profit amounts, I haven't seen my trading stash shrink yet. Of course, I can stay in the red for some time, but it ain't over until the fat lady sings - meaning, until ALL legs are closed. However, you rise a relevant point about lurking greed - the temptation to raise the stash does nag me from time to time. In my case, it happens more often when I feel like getting out of a tight corner by a bold move and some luck; less often when I feel I could enhance my profits. But I guess everyone is different. At any rate, I've learned my lesson, and I know that when someday I'm required to pull the plug on some losing trade, I will do it without risking more. In that case, I will probably replenish the trading stash to its standard initial state. I've made enough profits already that even getting liquidated a couple times over would leave me in the green.

[jonoiv]

Classic WO reaction to the bitsptamp ddos at the head and sholders neckline.

To the extent that there is some factual reality to a bitstamp ddos, which remains news to me (likely a FUD spreading attempt since it is coming from you):  you are coming off as a bit desperate in your attempted cave allegory readings of the bitcoin price dynamics, but I suppose you are not appearing any worse desperate than you were a few weeks ago...

I will concede that there is still some hope that your ongoing negative balance $6k BTC sell orders might be profitably redeemable in the future (absent the opportunity costs of your dumbass having had sold too much too soon).

I would applaud your opportunity for having had learned a lesson, but through your persistently stubborn posts, you have already sufficiently demonstrated that you don't lurn much too easily.    So, in that regard, it remains difficult to feel sorry for you, too.  

My negative balaance?   I sold at 11500 long at 3500 sold at 6000.  I know you'er a bit dim, but surely even mentally challenged ppl like yourself can work that one out.  

[realr0ach]

Trollbian, look at the interior of this 1976 Westsail:

https://www.yachtworld.com/boats/1976/westsail-43-3548819/

[d_eddie]

Good morning Bitcoinland. Geeze it's 8:30AM. What's happening to me? I used to be an "up at the crack of noon" kind of guy. Now I'm keeping farmers' hours. It's the GF's fault. She drags me off to bed earlier and wakes me up earlier every day.

Wink wink nudge nudge apart (picnic bears already took care of that), that's one thing I don't like when I have a steady GF. They've always gone farmer on me, every single time.

[El duderino_]

^^^
WoW always the best possible moves

A true master among us.... smells fishy but who am I

[El duderino_]

Trollbian, look at the interior of this 1976 Westsail:

https://www.yachtworld.com/boats/1976/westsail-43-3548819/

I thought I was the privilleged one to Carry your troll-name??

[Last of the V8s]

tokinex, binance launchpad and the other exchange IEO platforms are going to push the markets up, says er, a bloke from tokinex https://www.linkedin.com/in/henry-child-46b93554/
eg 'ampleforth' is a stablecoin with an elastic supply; it's a way to diversify https://ethereumworldnews.com/ampleforth-a-digital-asset-aiming-to-differentiate-itself-from-bitcoin/
or fleece people, says er, a guy from bitcointalk

[realr0ach]

^anything (((digital currency))) related is a scam.  If it's not a non-perishable, physical commodity, it's not money and is just a valueless timestamp or IOU.  Anything that's not a resource in itself is just another Keynesian scam.  There is never a reason to trade a resource for a non-resource.  If you do, you got scammed.  Bitcoin is not a resource.  It's not a commodity.  It's just a valueless timestamp.