klee
Legendary
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Activity: 1498
Merit: 1000
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August 24, 2014, 08:16:03 AM |
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I have a lot of people wanting me to help them enter in the Bitcoin/Cryptos (like a broker).
When they see the alts they all want to buy them too, so I advise them to diversify 2-5% of their capital in them.
This is fresh fiat that would go into BTC if it wasn't for the alts.*
I bet my clients are not the only ones doing so.
On the other hand *they have to buy BTC first in order to buy alts, though this is changing fast.
Opinions?
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fonzie
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August 24, 2014, 08:27:02 AM |
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Now up from 75000 to 200000 LTC shorts in ~48h. Highest amount ever in the history of Bitfinex @ one of the lowest LTC/USD prices in the last months, lolololol This might end bad for some people.
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Wandererfromthenorth
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August 24, 2014, 08:29:50 AM |
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You know... that s--- is so rigged. Those scumbags at Finex have no problem putting my orders through when they go against me, but when they are going to go in my favor they f--- me. Done with them. Probably done with all of this s---. Fuck!! And yea, I should go post this somewhere else, but that's bull----, too because people ought to know when the fix is on. That's what a speculation board should be for. This f---ing bulls---.
Yeah Finex is having some issues lately, I suggest you avoid margin trading and play only on Exchange for now, or does buying/selling also have problems?
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billyjoeallen
Legendary
Offline
Activity: 1106
Merit: 1007
Hide your women
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August 24, 2014, 08:31:42 AM |
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I don't know a single high profile Bitcoin enthusiast with an IQ below 130. I would say most are three standards of deviation above the mean. Now I may not quite be a genius myself, but it's only logical to do what smart people do if you want to succeed at least as much as them. This is how technological revolutions begin. The Winklevi were in Facebook before there was Facebook. They got screwed over by Zuckerberg, but I think they learned a lesson from it. They are not lazy people. They are Olympic-level athletes. They are not unsuccessful people. They may come from money, but the vast majority of their wealth was self-made.
Of course their are insiders, but it's still a far less rigged market than stocks, bonds or even real estate. Especially centrally-controlled fiat. The fluctuations are greater, but that just means the time scale is ramped up. Everything you do is risky and that includes doing nothing. The way smart people do it is to diversify, exercise discipline, and hope you make more good bets than bad.
Cheaters don't keep their money because they didn't earn it and so they don't value it as much as those who had to sweat and work hard. They waste wealth and that just means that honest people can buy it from them at a discount. Life is far from fair, but everyone reading this at least has an internet connection so you should probably be happy life is unfair. You are likely a beneficiary of that unfairness if you look at the big picture.
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Wandererfromthenorth
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August 24, 2014, 08:32:16 AM |
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I have a lot of people wanting me to help them enter in the Bitcoin/Cryptos (like a broker).
When they see the alts they all want to buy them too, so I advise them to diversify 2-5% of their capital in them.
This is fresh fiat that would go into BTC if it wasn't for the alts.*
I bet my clients are not the only ones doing so.
On the other hand *they have to buy BTC first in order to buy alts, though this is changing fast.
Opinions?
Alts are quick pump&dumps, you can make a lot of profit on those but you gotta strictly daytrade them (quick in, quick out), and only the new ones. Never hold any altcoin indefinitely. So "diversifying your portfolio in alts" is a very bad idea. So technically that would be fiat --> BTC --> random shitcoin --> back to BTC.
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Newbie1022
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August 24, 2014, 08:36:46 AM |
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You know... that s--- is so rigged. Those scumbags at Finex have no problem putting my orders through when they go against me, but when they are going to go in my favor they f--- me. Done with them. Probably done with all of this s---. Fuck!! And yea, I should go post this somewhere else, but that's bull----, too because people ought to know when the fix is on. That's what a speculation board should be for. This f---ing bulls---.
Yeah Finex is having some issues lately, I suggest you avoid margin trading and play only on Exchange for now, or does buying/selling also have problems? No, I guess I have just gotten greedy. Also, it cost me what would have been an 8% profit just now. Not huge, but it is hard enough to beat the house. I am just super frustrated about it. Thanks for the sentiment. That really is what I should go back to doing.
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billyjoeallen
Legendary
Offline
Activity: 1106
Merit: 1007
Hide your women
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August 24, 2014, 08:38:32 AM |
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Only an idiot holds a margin position over night.
"I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful." ~ Warren Buffet
" "Leverage is the only way a smart guy can go broke." ~ Warren Buffet
They guy is old school and doesn't understand bitcoin technology or Austrian economics, but he does understand investing.
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klee
Legendary
Offline
Activity: 1498
Merit: 1000
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August 24, 2014, 08:38:46 AM |
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I have a lot of people wanting me to help them enter in the Bitcoin/Cryptos (like a broker).
When they see the alts they all want to buy them too, so I advise them to diversify 2-5% of their capital in them.
This is fresh fiat that would go into BTC if it wasn't for the alts.*
I bet my clients are not the only ones doing so.
On the other hand *they have to buy BTC first in order to buy alts, though this is changing fast.
Opinions?
Alts are quick pump&dumps, you can make a lot of profit on those but you gotta strictly daytrade them (quick in, quick out), and only the new ones. So technically that would be fiat --> BTC --> random shitcoin --> back to BTC. I exclude Ripple and Stellar from the alt list though (for various obvious reasons). Pump & dump is a relative term, NXT first traded at 0.000001 ... EDIT: I mean that after about 1 year it is still here with a very strong community and it has gone more than x50 in value
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Wandererfromthenorth
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August 24, 2014, 08:39:08 AM |
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You know... that s--- is so rigged. Those scumbags at Finex have no problem putting my orders through when they go against me, but when they are going to go in my favor they f--- me. Done with them. Probably done with all of this s---. Fuck!! And yea, I should go post this somewhere else, but that's bull----, too because people ought to know when the fix is on. That's what a speculation board should be for. This f---ing bulls---.
Yeah Finex is having some issues lately, I suggest you avoid margin trading and play only on Exchange for now, or does buying/selling also have problems? No, I guess I have just gotten greedy. Also, it cost me what would have been an 8% profit just now. Not huge, but it is hard enough to beat the house. I am just super frustrated about it. Thanks for the sentiment. That really is what I should go back to doing. I feel you bro, last time finex had problems, it happened when it didn't allow me to buy at 450 during the first flash crash last week or so It could have been an instant 10-20% on a big position Fuck Bitfinex lol
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Newbie1022
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August 24, 2014, 08:40:15 AM |
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You know... that s--- is so rigged. Those scumbags at Finex have no problem putting my orders through when they go against me, but when they are going to go in my favor they f--- me. Done with them. Probably done with all of this s---. Fuck!! And yea, I should go post this somewhere else, but that's bull----, too because people ought to know when the fix is on. That's what a speculation board should be for. This f---ing bulls---.
Yeah Finex is having some issues lately, I suggest you avoid margin trading and play only on Exchange for now, or does buying/selling also have problems? No, I guess I have just gotten greedy. Also, it cost me what would have been an 8% profit just now. Not huge, but it is hard enough to beat the house. I am just super frustrated about it. Thanks for the sentiment. That really is what I should go back to doing. I feel you bro, last time finex had problems, it happened when it didn't allow me to buy at 450 during the first flash crash It could have been an instant 10-20% on a big position Fuck Bitfinex lol Ouch. Ok, at least I am not alone on the boat. Have a jolly night. Finally going to sleep.
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Wandererfromthenorth
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August 24, 2014, 08:41:05 AM |
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I have a lot of people wanting me to help them enter in the Bitcoin/Cryptos (like a broker).
When they see the alts they all want to buy them too, so I advise them to diversify 2-5% of their capital in them.
This is fresh fiat that would go into BTC if it wasn't for the alts.*
I bet my clients are not the only ones doing so.
On the other hand *they have to buy BTC first in order to buy alts, though this is changing fast.
Opinions?
Alts are quick pump&dumps, you can make a lot of profit on those but you gotta strictly daytrade them (quick in, quick out), and only the new ones. So technically that would be fiat --> BTC --> random shitcoin --> back to BTC. I exclude Ripple and Stellar from the alt list though (for various obvious reasons). Pump & dump is a relative term, NXT first traded at 0.000001 ... Even NXT, once it reaches the top of the pump, it's just down and down and down (little bounces at support level but nothing spectacular).
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billyjoeallen
Legendary
Offline
Activity: 1106
Merit: 1007
Hide your women
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August 24, 2014, 08:42:50 AM |
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and for Christ's sake keep the majority of your bitcoins off the exchange. If you don't hold the private keys, you don't own any bitcoin.
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AceWallen
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August 24, 2014, 08:52:14 AM |
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Regarding TA:
It's simple:
Some people don't know how TA works or what it's supposed to do. The same folks try to apply what they think TA is but they lose money. Their conclusion: TA doesn't work.
The End.
regarding TA, i think many around here are asking themselves, "does TA work or not?" and the real answer is, "I am a bad trader." and that has absolutely nothing to do with TA.
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magicmexican
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August 24, 2014, 09:03:26 AM |
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I thought i would wake to <300$, what the hell bitcoin?
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billyjoeallen
Legendary
Offline
Activity: 1106
Merit: 1007
Hide your women
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August 24, 2014, 09:08:12 AM |
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Regarding TA:
It's simple:
Some people don't know how TA works or what it's supposed to do. The same folks try to apply what they think TA is but they lose money. Their conclusion: TA doesn't work.
The End.
regarding TA, i think many around here are asking themselves, "does TA work or not?" and the real answer is, "I am a bad trader." and that has absolutely nothing to do with TA. I agree. Sell your coins if it's making you miserable. I want the price to go down so I can buy more. If you don't have the brains or the balls to play this game, then STFU and GTFO. I'm going to BTFD.
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Wandererfromthenorth
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August 24, 2014, 09:19:27 AM |
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Regarding TA:
It's simple:
Some people don't know how TA works or what it's supposed to do. The same folks try to apply what they think TA is but they lose money. Their conclusion: TA doesn't work.
The End.
regarding TA, i think many around here are asking themselves, "does TA work or not?" and the real answer is, "I am a bad trader." and that has absolutely nothing to do with TA. Exactly.
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falllling
Member
Offline
Activity: 112
Merit: 10
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August 24, 2014, 09:32:53 AM |
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I thought i would wake to <300$, what the hell bitcoin?
$3xx incoming!
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johnwest
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August 24, 2014, 09:40:41 AM |
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I thought i would wake to <300$, what the hell bitcoin?
$3xx incoming! No way, Bitcoin market maturing so much, it's not like before where price drop to 60-70% in 1-2 days. We are now very mature community so I do not think price will going to 3xx level now.
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windjc
Legendary
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Activity: 2156
Merit: 1070
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August 24, 2014, 09:44:15 AM |
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I thought i would wake to <300$, what the hell bitcoin?
$3xx incoming! Why are you NOT SHORT btc then? Explain yourself.
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greenlion
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August 24, 2014, 09:54:27 AM |
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Absolutely false on its face.
All trade is by definition positive sum, and a market is merely the aggregation of all trades. This arises because the preferences of individual participants are not monolithic.
The whole anti-TA strain I can understand is very compelling from a sense of misguided skepticism and not wanting to be made a fool, but all of these knee jerk non-criticisms transparently come out of a lack of understanding of what TA even is in the first place.
Imagine this scenario: 10 men are locked in a room. They are given different quantities of 2 assets each. They start exchanging those 2 assets among them, effectively creating a 'market' and determining a 'price' of asset A measured in asset B and viceversa. This price is recorded day by day, and a graph drawn on the wall of the room. Now, as times goes on, 9 of these 10 men start seeing things in the graph. They seems to fool themselves into thinking that somewhat future prices are determined by previous ones. They take rules and compasses and start identifying 'trends' and 'patterns' in the graph. They think: "price has gone up for the last 3 days, it is more probable that it will go up today, instead of going down". They completely forgot the base mechanics, as you recall correctly: trades and trades alone determine price. The 10th man, more wise, don't believe this mumbo jumbo. He understand the mechanics. He also know, now, that another mechanic has been added to the game: beliefs. So at the start of the day he buy a bit of B, fooling the others into thinking: "see? what did i told you? trend is up". And they buy, and buy... It is at that point that our trading hero sell. So, while these 9 men think they are smart because they can see 2 moving averages cross, the other one fool them. A lot. After a year the room is unlocked. Every pieces of A and B are in the pockets of our hero. The others pockets are empty. Here endeth the lesson. That's not a lesson, that's reinventing the wheel from scratch on the basis of no direct knowledge of the subject, to create some perverse "lifeboat ethics" thought experiment deceptively designed to vaguely produce the outcome that you want. The real way to learn about this subject is to learn about this subject, and then produce critiques later from a position of knowledge instead of a position of sophomoric generality. Here's a lesson for you: the way that you define what a market is at the beginning is a cargo-cult definition that does not subsume the primary conceptual features of what a market really is, but just shows the consequent trappings of how a market looks. And at the very beginning of the second paragraph you just go ahead and assume what you're trying to prove, which again, is a problem that won't go away here.
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