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Author Topic: Christmas Dump..  (Read 2326 times)
teflone
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December 26, 2011, 02:04:25 AM
 #1

Sad

Someone took a caganer (Big ass sell)


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December 26, 2011, 02:27:08 AM
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I'm loving it. Making some good returns trading on the swings.
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December 26, 2011, 02:28:08 AM
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I'm hating it right now. Shouldn't be trading intoxicated ^^

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December 26, 2011, 02:29:50 AM
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Wasn't as bad as I first thought..

But yes, trading drunk you get trigger happy.. Tongue

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December 26, 2011, 02:33:29 AM
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Wasn't as bad as I first thought..

Apart from the fact that it looks like we are going to have (at best) yet another hanging man on the monthly charts by the end of the GMT day, or at worst a slide right back down. The selling pressure is ramping up, and demand has shrunk by yet another $73,000 (on top of the $150,000 a few days ago) and supply has increased by 9250 btc. Aggregate demand is only $650,000 now. The last time we were at $4.15, aggregate demand was $822,585.

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December 26, 2011, 02:34:41 AM
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Wasn't as bad as I first thought..

But yes, trading drunk you get trigger happy.. Tongue

Well it wasn't that bad of a plan. Saw the drop starting and liquidated my long at 4,25ish on bitcoinica, but wasn't thinking clearly due to being intoxicated and used a market order instead of limit order. It went through for 4,04 total. Wanted to buy back in at 3,90, which was quite a nice call, but of course the spread screwed me over, so I'm still left with USD. Oh well. My own fault. Don't trade when intoxicated, and don't try to profit of these kind of swings with those insane spreads on Bitcoinica when things are moving Sad Not going to start any positions now, I'll wait till I'm sober again ^^

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December 26, 2011, 02:34:55 AM
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There's a recent history of someone (or more likely, some bot) getting rather sell-happy and dumping the price by 10% instantly.  It seems to me the more logical way to sell a large amount is in small amounts over time, rather than dumping the price instantly.  

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December 26, 2011, 02:42:10 AM
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What kind of crazy market is this? Is everyone trading intoxicated right now?  Grin Thanks Xmas!

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RyNinDaCleM
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December 26, 2011, 02:44:29 AM
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There's a recent history of someone (or more likely, some bot) getting rather sell-happy and dumping the price by 10% instantly.  It seems to me the more logical way to sell a large amount is in small amounts over time, rather than dumping the price instantly.  

Perhaps trying to trigger a widespread panic since the (smaller) large sells lately haven't been doing it.

I managed to liquidate @ 4.19 and change, on one of the bounces and got my order sitting at 3.825 executed. So worked out for me!  Grin

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December 26, 2011, 02:45:56 AM
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There's a recent history of someone (or more likely, some bot) getting rather sell-happy and dumping the price by 10% instantly.  It seems to me the more logical way to sell a large amount is in small amounts over time, rather than dumping the price instantly.  

Perhaps trying to trigger a widespread panic since the (smaller) large sells lately haven't been doing it.

I managed to liquidate @ 4.19 and change, on one of the bounces and got my order sitting at 3.825 executed. So worked out for me!  Grin

Huh? AFAIK the buy prices on bitcoinica never hit 3,825 due to the spreads? How did you manage to buy at that price again? Shocked

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December 26, 2011, 02:59:26 AM
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Like I've been saying, there are a lot of people very eager to get out as the price creeps up.  Too many and the price will stop creeping up because the market can't sustain that many dumps like this.  I'll be dumbfounded if the price is above $4 when I wake up tomorrow.
teflone
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December 26, 2011, 03:09:26 AM
 #12

It took one off the chin, and it didn't have a glass chin..

All Im interested in is the price on the day the banks open, which is what the 27th ?

Does Japan have a holiday for 25 and 26th ?

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RyNinDaCleM
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December 26, 2011, 03:11:08 AM
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Huh? AFAIK the buy prices on bitcoinica never hit 3,825 due to the spreads? How did you manage to buy at that price again? Shocked

That order has been sitting there for DAYS! Oh and BTW, I don't use bitcoinica. The way I trade runs enough risk without adding leverage. So yeah...

Like I've been saying, there are a lot of people very eager to get out as the price creeps up.  Too many and the price will stop creeping up because the market can't sustain that many dumps like this.  I'll be dumbfounded if the price is above $4 when I wake up tomorrow.

This is what I've been thinking. But, it's like a child fighting going to sleep.

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December 26, 2011, 04:38:32 AM
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Wasn't as bad as I first thought..

But yes, trading drunk you get trigger happy.. Tongue

Well it wasn't that bad of a plan. Saw the drop starting and liquidated my long at 4,25ish on bitcoinica, but wasn't thinking clearly due to being intoxicated and used a market order instead of limit order. It went through for 4,04 total. Wanted to buy back in at 3,90, which was quite a nice call, but of course the spread screwed me over, so I'm still left with USD. Oh well. My own fault. Don't trade when intoxicated, and don't try to profit of these kind of swings with those insane spreads on Bitcoinica when things are moving Sad Not going to start any positions now, I'll wait till I'm sober again ^^

A couple of months back I came in from a night out, the price was climbing slowly, I decided to buy 100 bitcoins, put in a bid at the same price as the next highest bid, I then drunkenly put in an ask... at the same price, I bought my own bitcoins... and paid commission twice  Grin

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December 26, 2011, 06:39:50 AM
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It took one off the chin, and it didn't have a glass chin..

All Im interested in is the price on the day the banks open, which is what the 27th ?

Does Japan have a holiday for 25 and 26th ?

Today is not a holiday here in Japan.

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December 26, 2011, 01:44:52 PM
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Mon 2nd Jan is the next Japanese hols making a long New Year's weekend there & then again on the 9th Jan, looking at my new diary & see that Russia gets over a whole week off - that's a lot of partying

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December 27, 2011, 10:29:56 PM
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Like I've been saying, there are a lot of people very eager to get out as the price creeps up.  Too many and the price will stop creeping up because the market can't sustain that many dumps like this.  I'll be dumbfounded if the price is above $4 when I wake up tomorrow.

So, when did you wake up?

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proudhon
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December 27, 2011, 11:01:01 PM
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Like I've been saying, there are a lot of people very eager to get out as the price creeps up.  Too many and the price will stop creeping up because the market can't sustain that many dumps like this.  I'll be dumbfounded if the price is above $4 when I wake up tomorrow.

So, when did you wake up?

It was under $4 when I woke up, but a few minutes later it went above $4.  Since then it's been bouncing around $4.  I'm very surprised.  An hour or so ago somebody put up about a 5000BTC ask pretty close to spot, but removed it after a few minutes and it doesn't seem that those coins were spread out anywhere or sold, yet.
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December 27, 2011, 11:28:19 PM
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Spike up to 4.1... will this trigger anything big?

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December 27, 2011, 11:33:59 PM
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Nah, don't think so. Too quiet right now. I do hope we'll rally the coming ~24 hours, though I'll win the 2BTC contest if it hits 5$ the 28th of December ^^

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