del

[cypherdoc]

What decided the price at which that trade was executed?

now THAT is brutal, in the sense of unpredictable.

[cypherdoc]

What decided the price at which that trade was executed?

As I understand it:
The buy order was entered into the queue when Bitcoinica's buy hit 6.8010. It then became a market order, but wasn't executed immediately on Mt. Gox due to a number of delays in the system. Probably the spike down to 6.8010 and below was quite steep, so by the time the buy actually went through, the price on Gox had fallen further.

You got lucky in other words. It could have gone the other way, too, and the spike might have only just touched 6.8, leaving your order unexecuted

Someone correct me if I got this wrong...

i think it is a function of the 4 sec delay btwn when u hit the buy button and when it executed.  you were lucky enough to have a spike down during that 4 sec i would imagine.

[proudhon]

Still holdin' on.

[ineededausername]

Still holdin' on.

proudhon the bull perseveres in the face of uncertainty!

[Crypt_Current]

can anyone make a simple analogy got this trailing stop note ?

Your order works like a Stop order. However, when market price decreases (buying) or increases (selling), your target price will also change by the same value.

I have been wondering about that kind of order too and have not used it yet.  The key issue is the term "target price" -- I don't think it is clearly defined anywhere.

[Luis_GT]

Keep driving the price up so we can Zhoutounged all those sell positions!

[mb300sd]

When shorts get zhoutounged, there are buy orders placed on gox and the price is forced higher, correct?

Someone spike the price! Lets see $8 today!

[sgbett]

the asterisk on the sell side means people can't sell because zhou is out of BTC not USD.

If anything this is preventing/slowing a price collapse.

Plus I have sand in my vagina because I decided to go long at $7.15 last night

[ineededausername]

Plus I have sand in my vagina because I decided to go long at $7.15 last night

I have a message for my fellow bulls, who have been zhoutonged or hurt by this correction.

The correction is actually an enormously bullish sign.  Here, look at the charts.



On one of the highest-volume days in the history of bitcoin, almost 1.5 million dollars caused a massive correction down... but is it so massive?  As 8PM draws near, we are ending up right back where we started.  Indeed, on this chart, the net result of the $1.5 million correction is a brief blip in a sea of green.  It has caused a change of -25 cents.

Again, $1.5 million is one of the highest volumes ever recorded in the bitcoin markets, and all it caused was a small correction, which barely registered in the technical indicators.  What does this mean for the continuation of the rally?

[Crypt_Current]

Plus I have sand in my vagina because I decided to go long at $7.15 last night

I have a message for my fellow bulls, who have been zhoutonged or hurt by this correction.

The correction is actually an enormously bullish sign.  Here, look at the charts.



On one of the highest-volume days in the history of bitcoin, almost 1.5 million dollars caused a massive correction down... but is it so massive?  As 8PM draws near, we are ending up right back where we started.  Indeed, on this chart, the net result of the $1.5 million correction is a brief blip in a sea of green.  It has caused a change of -25 cents.

Again, $1.5 million is one of the highest volumes ever recorded in the bitcoin markets, and all it caused was a small correction, which barely registered in the technical indicators.  What does this mean for the continuation of the rally?

+111111111111111111111111111111

[proudhon]

I'm still in.

[legitnick]

Me too

[Crypt_Current]

I'm still in.

Hahahaha, having been hanging around this board since August or so, man it is so amusing to me to see this.

[Crypt_Current]

yall showed yours, i'll show mine:

[teflone]

Liquidate!!!!!!





Just kidding, that 100 should turn into at least  275 by months end..

[sgbett]

Plus I have sand in my vagina because I decided to go long at $7.15 last night

I have a message for my fellow bulls, who have been zhoutonged or hurt by this correction.

The correction is actually an enormously bullish sign.  Here, look at the charts.

...snip...

The sand is because i shorted too early when it was 6.25, when it broke to 7.2 I made an emotional decision and flipped my position.

I've found this to be one of the best indicators around. In the cold light of day today I released that I had been total rash. I've spent most of the day reviewing this and made the tough decision to close again for another loss.

You see bullish signs on those charts, I am long term bullish, I'm holding a stash long for the long term, but my play money is for trading and  right now this is the daily chart I am looking at...



Failing to break out of bollinger, and a lot of room to the downside.
RSI: Overbought

They give me the sense that this rally is over (for now), and a correction is on the cards.

Money flow OBV and PVT all peaky but a closer look at the hourly:



Failed attempt to break above 7.20
OBV and PVT failed to make new highs

Thats just my opinion, as unpopular is it might be right now!

I'm about 33% long BTC, the rest is in USD and I have a bunch of buy orders all the way back down to $2. (I've even sent some loving zhou's way, I just kind a like that site however much it screws me, or rather, I screw myself on it!)

I tell you this, not because I think it will have any effect (I think the market is big enough now, that these forums do not have an effect - if indeed they ever did!) or because I think anyone should do anything based on my view, but so that I can say 'I told you so' if I'm right

Good luck all!

[sgbett]

I've seen that asterisk blinking on the sell side of bitcoinica an awful lot today. That makes me think a lot of people are selling, or that a lot of people are short...



wedge forming.... could go either way

if it's up then it will be one hell of a squeeze!

[Crypt_Current]

Liquidate!!!!!!





Just kidding, that 100 should turn into at least  275 by months end..

Hoping I can keep it going longer than that.  Got another account with a short position to hedge / catch the spikes.  Crossing my fingers.

[Luis_GT]

I think that recent spike to 7 just killed a lot of the sell orders in bitcoinica...

[proudhon]

i am out
it was a nice day

I should have got out.  Still haven't been liquidated, but it's probably coming soon.