rpietila Wall Observer - the Quality TA Thread ;)

[zimmah]

Here is the 3-day resolution Bitstamp chart, in which I have drawn the resistance line at $835. This would be a target for the current rally at which point it may hesitate before moving higher . . .

It will still take a while to reach that though.

But I still see some good news. A while ago I have drawn 2 fib fans (which makes 8 lines in total) and a few days ago we dropped all the way to the lowest line. Right now we are oscillating around the second-lowest. When we were around 680 we were at the highest lines. It will still take a while before we reach the higher lines again (if ever), but I would not be very surprised of we move up 2 or 3 lines from here.

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[rpietila]

Note to new entrants, concerned about the "first mover unfair advantage":

You cannot make me un-rich by refusing to buy bitcoins

but

You CAN make yourself remain un-rich by refusing to buy them

[madmat]

Note to new entrants, concerned about the "first mover unfair advantage":

You cannot make me un-rich by refusing to buy bitcoins

but

You CAN make yourself remain un-rich by refusing to buy them

Note to Risto

You can make me rich by giving me bitcoins

but

You CAN'T make yourself un-rich by refusing to give me some

[Erdogan]

Note to new entrants, concerned about the "first mover unfair advantage":

You cannot make me un-rich by refusing to buy bitcoins

but

You CAN make yourself remain un-rich by refusing to buy them

Note to Risto

You can make me rich by giving me bitcoins

but

You CAN'T make yourself un-rich by refusing to give me some

People like you ... this is how we know that bitcoin has value.

[Erdogan]

Let me rephrase that. Suppose you make something of value, or sell your time to someone who knows how. Then you can buy some bitcoins, and you have made someone else better off at the same time. Win - win.

Edit: In the current implementation phase, you also enrich rpietila and myself. That's a quadruple win. Do it before bitcoin is fully implemented! Now is when you have the opportunity of your lifetime.

[pftq]

I set up a few automated charts here for anyone interested:
http://ripple.tech-trader.net/?pair=BTC-USD

Main value of the algos there are the trendlines and support/resistance drawing, which are strength-weighted based on how well the levels are tested.  I'm also working on a few automated strategies for the trading itself if anyone's interested in collaborating.

I'm mainly watching to see if the support at $550 holds.  If not, I'd expect a test of the next closest trendline below that.
http://ripple.tech-trader.net/2014-06-13_19-43,_60_Minute_BTC-USD_Chart.jpg

The buy signal from Tech Trader a few days back ended up working quite well.  Is anyone else taking an automated approach to this?
http://ripple.tech-trader.net/rsi/2014-06-19_00-00,_Daily_BTC-USD_Chart.jpg

[zimmah]

Note to new entrants, concerned about the "first mover unfair advantage":

You cannot make me un-rich by refusing to buy bitcoins

but

You CAN make yourself remain un-rich by refusing to buy them

indeed, in fact whoever refuses to buy bitcoin will become more and more "un-rich" because of inflation, and bitcoin will not be affected by inflation (as much) and thus become more and more expensive until the point where fiat bagholders won't be able to buy them anymore. Or at least not any meaningful amount.

Most people think fiat is the least risky thing to hold, and they are not investing because they do not buy gold/stock/bitcoin etc. But the fact is NOT TAKING ACTION IS ACTION TOO. By consciously choosing NOT to buy bitcoin you are essentially choosing to invest 100% of your assets in fiat, which is the most risky 'investment' ever. And fiat has proven time and time again to ALWAYS go down to 0 at some point, and almost never deflate. In fact fiat is DESIGNED to inflate. So by choosing not to invest in bitcoin you are willingly accepting to lose purchasing power year by year.

[TERA]

I set up a few automated charts here for anyone interested:
http://ripple.tech-trader.net/?pair=BTC-USD

Main value of the algos there are the trendlines and support/resistance drawing, which are strength-weighted based on how well the levels are tested.  I'm also working on a few automated strategies for the trading itself if anyone's interested in collaborating.

I'm mainly watching to see if the support at $550 holds.  If not, I'd expect a test of the next closest trendline below that.

The buy signal from Tech Trader a few days back ended up working quite well.  Is anyone else taking an automated approach to this?

I think the divergence pattern was obvious and didn't need any tools. The eye looking at raw price and volume is the best tool.

[pftq]

I set up a few automated charts here for anyone interested:
http://ripple.tech-trader.net/?pair=BTC-USD

Main value of the algos there are the trendlines and support/resistance drawing, which are strength-weighted based on how well the levels are tested.  I'm also working on a few automated strategies for the trading itself if anyone's interested in collaborating.

I'm mainly watching to see if the support at $550 holds.  If not, I'd expect a test of the next closest trendline below that.

The buy signal from Tech Trader a few days back ended up working quite well.  Is anyone else taking an automated approach to this?

I think the divergence pattern was obvious and didn't need any tools. The eye looking at raw price and volume is the best tool.

The point of my post was that the automation is good enough to catch and trade these setups on its own. I didn't mean you needed it as a crutch to guide your trading. That's not what it's meant for.  I was asking if anyone was doing anything like this as well (fully automated swing trading, not just using tools). My own trading is still often better than the automation, but it's nice to know I can walk away if I needed to or focus on other things with my time.

[sidhujag]

Divergence only works with no margin and averaging in, but then again avging in on a losing trade is a no no according to livermore.

[TERA]

So how many log units below the trendline are we now?

Are we still on track for $1,000,000 in 2017?

[klee]

So how many log units below the trendline are we now?

Are we still on track for $1,000,000 in 2017?

You do understand that you suffer from depression, right?

[Dragonkiller]

So how many log units below the trendline are we now?

Are we still on track for $1,000,000 in 2017?

You do understand that you suffer from depression, right?

Lol. That might actually be true. It would explain a lot of things.

[klee]

So how many log units below the trendline are we now?

Are we still on track for $1,000,000 in 2017?

You do understand that you suffer from depression, right?

Lol. That might actually be true. It would explain a lot of things.

Paleo diet + crossfit and you are out! 

[zimmah]

I set up a few automated charts here for anyone interested:
http://ripple.tech-trader.net/?pair=BTC-USD

Main value of the algos there are the trendlines and support/resistance drawing, which are strength-weighted based on how well the levels are tested.  I'm also working on a few automated strategies for the trading itself if anyone's interested in collaborating.

I'm mainly watching to see if the support at $550 holds.  If not, I'd expect a test of the next closest trendline below that.

The buy signal from Tech Trader a few days back ended up working quite well.  Is anyone else taking an automated approach to this?

I think the divergence pattern was obvious and didn't need any tools. The eye looking at raw price and volume is the best tool.

The point of my post was that the automation is good enough to catch and trade these setups on its own. I didn't mean you needed it as a crutch to guide your trading. That's not what it's meant for.  I was asking if anyone was doing anything like this as well (fully automated swing trading, not just using tools). My own trading is still often better than the automation, but it's nice to know I can walk away if I needed to or focus on other things with my time.

I'm looking into writing a trading bot, but I don't know how to make one yet, I'm trying to learn it. I don't trust third party bots so I want to make it myself.

[Parazyd]

I set up a few automated charts here for anyone interested:
http://ripple.tech-trader.net/?pair=BTC-USD

Main value of the algos there are the trendlines and support/resistance drawing, which are strength-weighted based on how well the levels are tested.  I'm also working on a few automated strategies for the trading itself if anyone's interested in collaborating.

I'm mainly watching to see if the support at $550 holds.  If not, I'd expect a test of the next closest trendline below that.

The buy signal from Tech Trader a few days back ended up working quite well.  Is anyone else taking an automated approach to this?

I think the divergence pattern was obvious and didn't need any tools. The eye looking at raw price and volume is the best tool.

The point of my post was that the automation is good enough to catch and trade these setups on its own. I didn't mean you needed it as a crutch to guide your trading. That's not what it's meant for.  I was asking if anyone was doing anything like this as well (fully automated swing trading, not just using tools). My own trading is still often better than the automation, but it's nice to know I can walk away if I needed to or focus on other things with my time.

I'm looking into writing a trading bot, but I don't know how to make one yet, I'm trying to learn it. I don't trust third party bots so I want to make it myself.

Don't. They cannot see what people can see. Trade yourself, even if it's two trades a day. You're so much better on your own than using bots.

[Dotto]

Seriously thinking in programming a trading creature in java... then I realised how buggy the APIs are (looking at alts here poloniex/mintpal, just to see if can work).

I didn´t finished it just for the APIs, but if you find a more serious/performing ones you can get some benefits, at least arbitring with the fastest transaction altcoins and tweeking some dials until you find your hotspot

[romneymoney]

One option with custom bots is to use the API to make things more efficient, but stop short of trying to make an algorithm to automate all the trading.

[pftq]

Well we all have our different goals - I'm actually aiming for fully automated.  You can't use set thresholds or static rules to achieve that (I'm working with ML, image recognition, etc).  I'm not going to try to change people's minds on this if they're already set against it, but if anyone else happens to be working something similar, it'd be nice to team up.

[jeffg]

I'm looking into writing a trading bot, but I don't know how to make one yet, I'm trying to learn it. I don't trust third party bots so I want to make it myself.

Don't. They cannot see what people can see. Trade yourself, even if it's two trades a day. You're so much better on your own than using bots.

I agree, but I'd still recommend everybody who can program to write a bot or to play around with the existing ones. You learn a lot about different strategies, indicators and you can backtest your ideas very quickly. Many people think they can easily beat the market with simple strategies like EMA crossover and don't realize that you can waste a lot of money when you have the wrong parameters. Even if you end up trading manually or even if you come to the conclusion that buy & hold is better for your needs, it pays off to invest some time to implement and backtest a bot.