fontas (OP)
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May 13, 2013, 08:36:55 AM
Last edit: May 13, 2013, 11:28:34 PM by fontas |
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:Charts:I took the 2011 bubble chart, overlayed it on the current chart to match the top, bottom, sucker's rally and resistance levels, and appended the extra portion to the current graph. Very simple TA but it has made me extravagant amounts of money so far. In one month we shall compare the actual chart to this chart, and they might be very similar. "But this time it's different!" Thoughts? https://i.imgur.com/gtyiKji.png
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Le Happy Merchant
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May 13, 2013, 08:39:10 AM
Last edit: May 13, 2013, 09:25:54 AM by Le Happy Merchant |
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I just want to be the first to pat you on the back, and commend you for trying. I don't need to wait months to do it.
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UltimateReaper
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May 13, 2013, 09:11:15 AM |
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I just want to be the first to point and laugh. I don't need to wait months to do it.
Fuck off.
You don't live up to your screen name  |
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Miz4r
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May 13, 2013, 09:20:54 AM |
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Something is wrong with this chart, 2011 was characterized by lower lows and lower highs. What we've seen so far are higher lows and lower highs, which makes it less likely for the price to follow the same pattern is it did in 2011. So it actually is different this time, there are also similarities ofcourse but if you are blind to the differences you could end up being very wrong.
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Bitcoin = Gold on steroids
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Le Happy Merchant
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May 13, 2013, 09:26:46 AM |
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You don't live up to your screen name Thanks for the reminder. |
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Miz4r
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May 13, 2013, 09:42:06 AM |
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Something is wrong with this chart, 2011 was characterized by lower lows and lower highs. What we've seen so far are higher lows and lower highs, which makes it less likely for the price to follow the same pattern is it did in 2011. So it actually is different this time, there are also similarities ofcourse but if you are blind to the differences you could end up being very wrong.
Actually starting from April 25th, the end of the sucker's rally, the trend seems to be characterized by lower lows and lower highs. That's cherry picking. Not a very sound argument to make. |
Bitcoin = Gold on steroids
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Zaih
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May 13, 2013, 10:18:42 AM |
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Well if it's made you decent money thus far, can't really have a go at the poor bloke.. Well done on your profits. I'm no professional, but I think it would be foolish to believe your invincible due to this technique, so be very careful  For all you know you could have been simply lucky eh. |
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Come-from-Beyond
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May 13, 2013, 10:22:33 AM |
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Thoughts?
My TA says 88$ avg. weighted on MtGox on the 31th of May. Let's wait for 2 weeks. |
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xorglub
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May 13, 2013, 11:27:28 AM |
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Are you Fontas the pump'n'dumper from btc-e ? Then you would know about bubbles deflating  |
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ManBearPig
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May 13, 2013, 11:38:05 AM |
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Crude as hell, there's absolutely no reason why we should copy that line. I don't need to wait several months to tell you how flawed this is. You're a trader, you work by movements but ignore fundamentals - good luck to you but your TA leaves a lot to be desired |
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Invictus
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May 13, 2013, 11:39:35 AM |
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100 is the new 10.
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antimattercrusader
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May 13, 2013, 02:31:42 PM |
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I come from the future.
Actually, I took the 2011 bubble chart, overlayed it on the current chart to match the top, bottom, sucker's rally and resistance levels, and appended the extra portion to the current graph. Very simple TA but it has made me extravagant amounts of money so far.
In one month we shall compare the actual chart to this chart, and they might be very similar.
"But this time it's different!"
Thoughts?
Rise Chikun, RISE!!!!! Oh wait, that's litecoin on the BTC-E trollbox, but hey.... are you the fontas everyone considers a god over there? |
BTC: 13WYhobWLHRMvBwXGq5ckEuUyuDPgMmHuK
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bozak
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May 13, 2013, 02:44:18 PM |
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I come from the future.Actually, I took the 2011 bubble chart, overlayed it on the current chart to match the top, bottom, sucker's rally and resistance levels, and appended the extra portion to the current graph. Very simple TA but it has made me extravagant amounts of money so far. In one month we shall compare the actual chart to this chart, and they might be very similar. "But this time it's different!" Thoughts?  I'll play along and track this with you. However, I am a strong believer that the past does not predict the future. The core premise of technical analysis is that the past predicts the future. In reality, there are always many different variables in the equation when comparing different time periods and chart action. In the stock market, the only reason technical analyis works is because enough people make purchase and sell decisions using it. With bitcoin, I am hoping that the psuedo-science of "technical" analysis will not catch on. |
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MAbtc
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May 13, 2013, 04:56:13 PM |
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In the stock market, the only reason technical analyis works is because enough people make purchase and sell decisions using it. People often say this, but... not exactly easy to prove. |
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notme
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May 14, 2013, 01:03:17 AM |
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I'll play along and track this with you. However, I am a strong believer that the past does not predict the future. The core premise of technical analysis is that the past predicts the future.
No, that is not the core premise. This is your first misunderstanding of what TA actually is. Past trades most certainly do correlate with the current positions of the various market participants. Support and resistance levels are areas where lots of trades have happened in the past, so they mark important price levels for many people. In reality, there are always many different variables in the equation when comparing different time periods and chart action. In the stock market, the only reason technical analyis works is because enough people make purchase and sell decisions using it. With bitcoin, I am hoping that the psuedo-science of "technical" analysis will not catch on.
I agree there is a lot that passes for TA that is not rigorous enough to be worth anything, but I believe that when rigor is applied and the number are crunched, you can do better than random. Once you have that, it's all about letting the winners run and cutting losses quickly. |
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master-P
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May 14, 2013, 02:30:19 AM |
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While I agree with you in theory, the reality is bitcoin's price can be greatly affected by unforeseen factors. I think the price will remain stable until the next major event (Good or Bad) determines what direction it moves in.
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Ares
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May 14, 2013, 02:44:38 AM |
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On an unrelated note, why do I see your name dropped every 10 seconds in the trollbox on btc-e
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Crypt_Current
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May 14, 2013, 04:16:07 AM |
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On an unrelated note, why do I see your name dropped every 10 seconds in the trollbox on btc-e
Using the profits from my BTC trading I ran alt coin pump n dumps back in March and April. Got me quite popular in the trollbox. LTC, TRC, NMC, DVC, NVC, PPC https://i.imgur.com/G0yDcFS.png single-handedly made LTC mining WAY profitable for me for like a month... Great Job, Fontas |
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