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Author Topic: zero hour for the downtrend  (Read 2360 times)
jojo69
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January 20, 2012, 04:38:59 PM
 #21

Trends, walls, triangles... You might as well put your faith in Bob!

praise Bob

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Censorship of e-gold was easy. Censorship of Bitcoin will be… entertaining.
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StewartJ
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January 20, 2012, 04:40:22 PM
 #22

Whoever just cleared the last of my old sells at $6.50 has my gratitude.  Of course, if it hits $7 before it hits $6 from here, I'll wish I hadn't said anything publicly.

Kudos for patience. I sold another batch too low, frankly I didn't believe they would rally this high, especially not right away.



@Thread:
Are trends some kind of new religion? Why should the trading price over time be aligned to straight lines, and even if they are at times, why should it have some special meaning?

Support and Resistance.

That is basically an un-tested hypothesis... Have you ever done a Bayesian analysis of the probability for breaking a trend? I assure you, it is not uniform along the trend. And a straight line does not inform you of that probability... It's just a 'totem'.

All I'm saying is, I see buying and selling trends that are supported by Support and Resistance lines.

Traders are creatures of habit, they tend to repeat their actions and the support and resistance lines point that way.
teflone
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January 20, 2012, 04:53:52 PM
 #23

Chodpada, your a fan of the church of the sub genius yes ?

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jojo69
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January 20, 2012, 05:00:38 PM
 #24

must have slack

This is not some pseudoeconomic post-modern Libertarian cult, it's an un-led, crowd-sourced mega startup organized around mutual self-interest where problems, whether of the theoretical or purely practical variety, are treated as temporary and, ultimately, solvable.
Censorship of e-gold was easy. Censorship of Bitcoin will be… entertaining.
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January 20, 2012, 05:03:27 PM
 #25

haha, sorry, just realized Bob is the church of the sub main guy... Smiley

Thought so, just checking!

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January 20, 2012, 05:06:53 PM
 #26

I see your Kelly Criterion and raise you a Proebsting's paradox.  Tongue

I see your paradox and inaugurate you as a genuine and authorized Pope of Discordia. Tongue

Is that a religious conflict with the Church of Sub Genius now? Huh
jojo69
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January 20, 2012, 05:11:26 PM
 #27

they are often good predictors of action

direction is, of course, always murky

This is not some pseudoeconomic post-modern Libertarian cult, it's an un-led, crowd-sourced mega startup organized around mutual self-interest where problems, whether of the theoretical or purely practical variety, are treated as temporary and, ultimately, solvable.
Censorship of e-gold was easy. Censorship of Bitcoin will be… entertaining.
StewartJ
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January 20, 2012, 05:22:38 PM
 #28

Whoever just cleared the last of my old sells at $6.50 has my gratitude.  Of course, if it hits $7 before it hits $6 from here, I'll wish I hadn't said anything publicly.

Kudos for patience. I sold another batch too low, frankly I didn't believe they would rally this high, especially not right away.



@Thread:
Are trends some kind of new religion? Why should the trading price over time be aligned to straight lines, and even if they are at times, why should it have some special meaning?

Support and Resistance.

That is basically an un-tested hypothesis... Have you ever done a Bayesian analysis of the probability for breaking a trend? I assure you, it is not uniform along the trend. And a straight line does not inform you of that probability... It's just a 'totem'.

All I'm saying is, I see buying and selling trends that are supported by Support and Resistance lines.

Traders are creatures of habit, they tend to repeat their actions and the support and resistance lines point that way.

My criticism of trends is not exactly that they are meaningless, but that they are meaningless in isolation. It is the superstitious treatment of trends that I object to. So often someone will just throw up a chart with a trend or a triangle and just say up/down... But there are many such inferences that can be drawn with nothing to support why one or the other should be more 'correct'. What is worse is when they are randomly correct and use the experience to build on a complex but unsubstantiated rule set that produces more random results et cetera...

I understand what you're saying, I view these as lowest common denominator indicators, nothing more.
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January 20, 2012, 07:17:14 PM
 #29

Trends, walls, triangles... You might as well put your faith in Bob!

praise Bob

All Hail Eris!

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cypherdoc
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January 20, 2012, 07:27:51 PM
 #30



make or break nightowls...what will it be?

busted.
naima53
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January 20, 2012, 07:30:53 PM
 #31



make or break nightowls...what will it be?

busted.
on such a small volume? I doubt ...

edit
weekend....

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