Some interesting feedback. Of course objectively we all want more BTC to reap the potential future rewards.
I had missed out on so many near-taken opportunities to boost my BTC stake (which is only small ~2.5 BTC), mostly through leveraging via alts, but recently from shorts in declines.
Do you use Bitcoin Wisdom or similar? Are the standard parameters fine or are there some wonder parameters which fit the data a little differently to give good warning indicators.
I should really read up on patterns.
They evolve, and even vary between exchange, regarding what parameters are the most positively-indicative of a change or movement. In particular, one thing I've found interesting is the Chinese traders, despite having 0% fees (or maybe because of it? so it doesn't distort the actual line with "candlewax"?) are much more strategic. Maybe it's just because they got in later, so Bitcoin still has a lot of accidental rich kids (rich, as in they have a few thousand USD worth of "play money" that came from their GPUs). Reading trends on Huobi is very different than Gox, with is the worst for candle fuzzing. Granted, sometimes the noise tells you things too, but it is irritating, especially on Gox.
FWIW on bitcoinwisdom, I use the KDJ with my own combo of parameters depending on these things and the timescale, 90% of the time. 10% will be the stochastic RSI. MACD is useless (to me). Likewise, CandlestickHLC is useless, an the line formats are nice only for looking at mean data, not realtime trades. OHLC shows the same thing as the traditional Japanese Candlestick, except Candles are better IMO. OHLC has the advantage of hiding the fuzz more, however... And, always EMA for me, at least 3 sometimes 4 for plotting. Loving the new line tools, too...
True story, Bitcoinwisdom has increased my trade efficiency 100x. Mainly for its resilience under stress. I had given up actively trading because the exchanges and/or charting sites always shit the bed during heavy trading, aka when you goddamn need them most.
