ShroomsKit
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April 17, 2014, 09:36:46 AM |
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As far as you've any trading skills and aren't resigned to purely just buy-&-hodl, all you really have to do to be at least moderately successful (which translates to millions $ profit in a span of a few years..from any starting capital point..) is to be patient, balanced, adaptive.
You don't want, as a speculator, a short-, mid-, or even longer-term trader, to be hoping, praying, that price will reach X or Y, other than 'academically'. In other words, don't enter or exit, or stay in negative -$ trades, because of your 'hopes'.
That's because hoping won't control the market. So you'll simply get crushed more often than not, and harder than your wins, statistically. You don't need to hope. You need to make money, regardless of where the price goes. The minute price moves against your trade significantly, you can reasonably exit take the loss & re-enter at better position. Why? Because that's 2 pro's vs 1 con - You're now safer, AND will gain back what you lost the minute you later re-enter & price goes back to where you took loss, and beyond, vs the downside that, yes there's always the risk price turns around right then & there at the point at which you were cutting loss.
It goes like this, say you bought at 513 (like I just did yesterday), & decided to hold on seeing if 510, 505, 500, even 495 will hold, before cutting loss to re-buy in lower (like I just did), you have to ask yourself, "How much can I reasonably project to gain from buying in lower than this..?" If you think it's looking to have comfortable odds of reaching down to 450-480's, that's a good deal then, cut & buy back down there. If on the other hand you waited allllll the way to 475 to ask yourself do I cut & lose by now, well, it's getting to be a bit late, to the point where it might not even go further down after this point, so you might as well just keep it open & hold for the best.
By far most traders lose money trading. That is a fact.
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windjc
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April 17, 2014, 09:38:12 AM |
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So all the announcements today seem to be about this "Construction Bank of China". How about the others banks? These exchanges use multiple banks, do they not?
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Cassius
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April 17, 2014, 09:38:26 AM |
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Has anyone already pointed out the obvious that the 18-04 deadline might be true?
Is it at 12 midnight? My thoughts exactly. China fud isn't remotely over until 18th is over, and then only if pboc go through with it.
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esse83
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April 17, 2014, 09:38:35 AM |
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http://www.huobi.com/news/index.php?a=show_notice&id=324Notice of suspension of bank recharge fire coins network approach Time: 2014-04-17 17:16:40 Source: Fire coins Network Dear fire coins network users: 16:15 this afternoon received a branch of China Construction Bank on land client manager notification requirements should be higher line, CCB will suspend the provision of services for fire gold coins into the network. Due to the current banking policy uncertainties, we have decided to suspend the bank recharge this way (withdrawals are not affected), to be determined before making policy adjustments. Users can use the recharge >card, prepaid card supports all major banks, 7 * 24 hours a timely arrival. Fire coins Network Operations 2014.04.17
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magicmexican
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April 17, 2014, 09:39:18 AM |
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I dont even think anyone cares about the news, its going down because its time to go down
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y3804
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April 17, 2014, 09:39:25 AM |
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So all the announcements today seem to be about this "Construction Bank of China". How about the others banks? These exchanges use multiple banks, do they not?
Most bank accounts have been closed already (April 14th). I think most are relying on China Merchants Bank now as their only recharge option
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coins101
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April 17, 2014, 09:39:39 AM |
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Can we do China banning Bitcoin rumours every Monday, about 10am.
Then on Friday, say 2pm, can we get all the Chinese exchanges to deny the rumours and confirm that their banking partners are fully on board and everything is running smoothly.
That would make for a great weekend with some extra beer money.
Thanks in advance.
You have got the days all mixed up. Rumours of a ban start on Monday.
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windjc
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April 17, 2014, 09:40:57 AM |
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So all the announcements today seem to be about this "Construction Bank of China". How about the others banks? These exchanges use multiple banks, do they not?
Most bank accounts have been closed already (April 14th). I think most are relying on China Merchants Bank now as their only recharge option Is this true? And if so, why is the China Merchant Bank still available?
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koryu
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April 17, 2014, 09:41:03 AM |
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Why should 470 hold?
![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FfrYIArB.jpg&t=665&c=QTPVnZzwnPeFRg) imo 480 would be a fair correction without leaving the current trend. it is also equal to 3000cny, which is psychological important.
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mooncake
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April 17, 2014, 09:42:34 AM |
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This is the one.
关于火币网将暂停工商银行卡充值业务的公告
时间 :2014-04-10 12:33:08 来源: 火币网
尊敬的火币网用户:
火币网最新信息: 今天上午10时左右接到工行中关村支行客户经理通知,接到上级行的通知,要求停止工行为火币网提供服务,在4月18日前完成火币网工行账户的销户。
上午10点30分左右,火币网几位合伙人赶到工行中关村支行,与支行的客户经理当面沟通了解情况。
上午12点,赶回公司发公告。发公告之前,未向任何用户或组织提前透露该信息,请广大用户监督。
火币网将于下周一(4月14号)正式停止使用工行中关村支行账户充值和提现(用户工商银行帐号提现不受影响,我们将使用其他银行跨行转账到您的工行账户中),目前为止其他银行暂时还不受影响,有最新消息火币网将在第一时间发布。
火币网运营部 2014/04/10
Forget about TA. It is the announcement by Huobi that is causing the drop.
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TERA
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April 17, 2014, 09:44:10 AM |
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Prices of assets are not just about long term projections but about present events and what the market can bear presently. It is about supply and demand. If 2/3 of the market and its volume suddenly vanishes then you are left with a much smaller market which can't possibly bear the current prices while providing liquidity to bitcoin users. I don't get what this has to do with 'fud'.
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mooncake
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April 17, 2014, 09:44:52 AM |
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This is the one.
关于火币网将暂停工商银行卡充值业务的公告
时间 :2014-04-10 12:33:08 来源: 火币网
尊敬的火币网用户:
火币网最新信息: 今天上午10时左右接到工行中关村支行客户经理通知,接到上级行的通知,要求停止工行为火币网提供服务,在4月18日前完成火币网工行账户的销户。
上午10点30分左右,火币网几位合伙人赶到工行中关村支行,与支行的客户经理当面沟通了解情况。
上午12点,赶回公司发公告。发公告之前,未向任何用户或组织提前透露该信息,请广大用户监督。
火币网将于下周一(4月14号)正式停止使用工行中关村支行账户充值和提现(用户工商银行帐号提现不受影响,我们将使用其他银行跨行转账到您的工行账户中),目前为止其他银行暂时还不受影响,有最新消息火币网将在第一时间发布。
火币网运营部 2014/04/10
Forget about TA. It is the announcement by Huobi that is causing the drop.
Key Point - China Construction Bank had stopped banking relationship with Huobi. Other banks not affected for now. Time announcement was posted: 12:33 PM China time.
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ShroomsKit
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April 17, 2014, 09:47:07 AM |
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Did the dumping start before the anouncement was made public?
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chessnut
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April 17, 2014, 09:47:44 AM |
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Huobi at 496... stamp at 490. what's the problem? the market was falling before all the announcements..... just a natural correction.
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darklight
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April 17, 2014, 09:48:34 AM |
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Did the dumping start before the anouncement was made public?
Yes, as usual theres some blatant insider trading going on. How many banks do they actually have left now?
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windjc
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April 17, 2014, 09:49:17 AM |
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Did the dumping start before the anouncement was made public?
Look, at this point these announcements dont matter. Traders are just using them as entry and exit points. I think most people who wanted to pull their funds off exchanges have already done so in China. However, its the future difficulty of getting money into exchanges which is bearish. Meanwhile, China traders who remain on exchanges remain as kamakazee as ever.
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windjc
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April 17, 2014, 09:50:42 AM |
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Huobi at 496... stamp at 490. what's the problem? the market was falling before all the announcements..... just a natural correction.
Looks like you are going to get your short exit point you wanted. Who knows, maybe you'll get more. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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ShroomsKit
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April 17, 2014, 09:51:40 AM |
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Did the dumping start before the anouncement was made public?
Yes, as usual theres some blatant insider trading going on. How many banks do they actually have left now? That's what i thought.
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Post-Cosmic
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April 17, 2014, 09:52:40 AM |
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Who gives a shit about China.
By the time summer rolls around and regulated U.S. exchanges have started operation China will be a distant memory.
U.S. exchanges that run from 8-5 and closed on the weekends? I know right.. makes me puke at the thought. No moar weekend/off-hours trading..? Wtf. bitstamp, bitfinex, and btce are just slaves that follow huobi via arbitrage bots. The sooner you accept this and stop fighting it because of how you think it is fundamentally wrong, the better time you will have trading.
Looool @ slaves, and yes, couldn't be more truth to this, you can a) Raise a riot over their control of the current exchange markets, or ; b) You can make $$ off their backs by being smart. Can always do both I suppose, but most here just don't realize/think about this clearly.
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ShroomsKit
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April 17, 2014, 09:53:14 AM |
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Huobi at 496... stamp at 490. what's the problem? the market was falling before all the announcements..... just a natural correction.
How was it falling? And how is panic selling because of yet another China anouncement a natural correction?
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