Bitcoin Forum
December 11, 2016, 02:30:53 AM *
News: To be able to use the next phase of the beta forum software, please ensure that your email address is correct/functional.
 
   Home   Help Search Donate Login Register  
Pages: « 1 2 3 [4] 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 ... 59 »
  Print  
Author Topic: Goomboo's Journal  (Read 250965 times)
Goomboo
Sr. Member
****
Offline Offline

Activity: 409



View Profile
January 21, 2012, 06:10:56 PM
 #61

Real time stats (at time of posting):

Applying the Goomboo system (I forgot the offical name of the system) it would seem too early to go long because there is no crossover yet (at 3pm)....

I can see the crossover at 10am(ish), followed by a large volume of red. This red represents traders going short in response to the crossover right?

Can anyone speculate out loud here, and just describe what might be happening at the 1pm-3pm. Whis is the cause of all the Green. I speculate one thing -- that it can't be traders on the 21/10 because theres no crossover yet..

I can be traders reacting to the 21/10 crossover that prompted the shorting.  Over time 21/10 trading will become less and less profitable now that it's been made a topic of discussion here.

This, and the contrarians! If everyone does the same thing, the price would plummet indefinitely. Or rise for that matter.

Excellent point RyNinDaCleM,

For every buyer there is a seller and for every seller is a buyer.  My long is your short and your short is my long.  The beautiful thing about the markets - we potentially could both be right or wrong.  Markets aren't only an exchange of financial assets, but also an exchange of ideas.

So if anyone is interested in trading against the trend, who am I to say that you are wrong?  Trend following works for me, but if you are profitable - adjusted for risk - in other ventures, go for it!
1481423453
Hero Member
*
Offline Offline

Posts: 1481423453

View Profile Personal Message (Offline)

Ignore
1481423453
Reply with quote  #2

1481423453
Report to moderator
1481423453
Hero Member
*
Offline Offline

Posts: 1481423453

View Profile Personal Message (Offline)

Ignore
1481423453
Reply with quote  #2

1481423453
Report to moderator
1481423453
Hero Member
*
Offline Offline

Posts: 1481423453

View Profile Personal Message (Offline)

Ignore
1481423453
Reply with quote  #2

1481423453
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1481423453
Hero Member
*
Offline Offline

Posts: 1481423453

View Profile Personal Message (Offline)

Ignore
1481423453
Reply with quote  #2

1481423453
Report to moderator
1481423453
Hero Member
*
Offline Offline

Posts: 1481423453

View Profile Personal Message (Offline)

Ignore
1481423453
Reply with quote  #2

1481423453
Report to moderator
Goomboo
Sr. Member
****
Offline Offline

Activity: 409



View Profile
January 21, 2012, 06:12:52 PM
 #62

or maybe someone just needed to cash out some btc

or..

someone had $6.17 flagged, and when the drop was at 6.17 it triggered a long/leverage/whatever is called, buy up of btc.



Now the mystery buyer is dumping his loot, and the price drops.

I speculate that its not the expliciit 21/10ers though, because they are still patiently waiting for the next crossover.

(all speculation).

[EDIT] Goomboo, this system is uber-intriguing. I've posting all this stuff here in your thread, because you are the teacher of teh system, but if its too much, let me know.. I can shift on out and make a new space. Although.. I think I'm done for now in any case.


No worries, I'm glad to see that someone is exciting about trend following.  I wish you profitable trading, feel free to post here any time.
Goomboo
Sr. Member
****
Offline Offline

Activity: 409



View Profile
January 21, 2012, 06:24:07 PM
 #63

Maybe a stupid question but what do you do when you sleep?  Tongue Do you set some positions to liquidate or something else?

That's a very interesting question Timbo925,

In the BTC market, I typically do not place a stop but rather exit when price action tells me a trend is over.  So basically once I am confident of the trend direction, I am comfortable letting it trade for a few hours before looking at it again.  In other words, I sleep soundly and think about other things Tongue

I've found that the more time I spend in front of a monitor, the more likely I am to want to make a trade which typically leads to lost funds Tongue
buck92
Jr. Member
*
Offline Offline

Activity: 42


View Profile
January 21, 2012, 06:30:07 PM
 #64

Thanks for such a helpful thread Goomboo, while I won't be following along exactly I am going to use your instructions to get better at trading. As a new trader who has been lurking for a few weeks, this is exactly the kind of thread I was looking for, intelligent conversation at its best.  No offense to anyone but I was sadden to find that while there is intelligent conversation to be had on these boards, you must first sift through the endless jungle of memes, ascii penises, and bull vs bear wars.

Also thanks for your book recommendations I will be checking out Reminiscences of a Stock Operator soon, I can't believe I have never heard of it before.
Timbo925
Sr. Member
****
Offline Offline

Activity: 352



View Profile
January 21, 2012, 06:32:06 PM
 #65

Thanks for such a helpful thread Goomboo, while I won't be following along exactly I am going to use your instructions to get better at trading. As a new trader who has been lurking for a few weeks, this is exactly the kind of thread I was looking for, intelligent conversation at its best.  No offense to anyone but I was sadden to find that while there is intelligent conversation to be had on these boards, you must first sift through the endless jungle of memes, ascii penises, and bull vs bear wars.

Also thanks for your book recommendations I will be checking out Reminiscences of a Stock Operator soon, I can't believe I have never heard of it before.

+1

Graphic Designer for hire (Ads/Logos/Banners...)   0.25 BTC  --> https://bitcointalk.org/index.php?topic=78924.msg878727#msg878727
BTC address: 1TimbojaydbZs1x5ptPVovsb9rATH3JSU
Goomboo
Sr. Member
****
Offline Offline

Activity: 409



View Profile
January 21, 2012, 06:50:31 PM
 #66

Thanks for such a helpful thread Goomboo, while I won't be following along exactly I am going to use your instructions to get better at trading. As a new trader who has been lurking for a few weeks, this is exactly the kind of thread I was looking for, intelligent conversation at its best.  No offense to anyone but I was sadden to find that while there is intelligent conversation to be had on these boards, you must first sift through the endless jungle of memes, ascii penises, and bull vs bear wars.

Also thanks for your book recommendations I will be checking out Reminiscences of a Stock Operator soon, I can't believe I have never heard of it before.

Thank you very much for your kind words buck92,

It really is an amazing book.  It won't teach you "buy green sell red!", but it will teach you the thoughts and wisdom of arguably the best trader who as ever lived.

Here's a good list of quotes from the book (I suggest you read the book first and then keep these as notes):
http://the3500.wordpress.com/2007/02/01/a-stock-operator/

Best of luck in your trading!
Goomboo
Sr. Member
****
Offline Offline

Activity: 409



View Profile
January 21, 2012, 06:58:51 PM
 #67

Just a little FYI:


The * is back on Bitcoinica.  They are maxed out long.  If this trade does go in our favor then we could see some volatility so be sure that you are managing your risk!

"If all I have is ten dollars and I risk it, I am much braver than when I risk a million if I have another million salted away."
-Jesse Livermore

Timbo925
Sr. Member
****
Offline Offline

Activity: 352



View Profile
January 21, 2012, 07:21:17 PM
 #68

Still short here @ 6.28 but lines are closing in. I do see a problem with bitcoinica.
If there is a crossover and I want to go long it will be impossible  to do because of that *
Only option is to exchange your USD to BTC but bitcoinica rates aren't the best.

Graphic Designer for hire (Ads/Logos/Banners...)   0.25 BTC  --> https://bitcointalk.org/index.php?topic=78924.msg878727#msg878727
BTC address: 1TimbojaydbZs1x5ptPVovsb9rATH3JSU
naima53
Hero Member
*****
Offline Offline

Activity: 616



View Profile
January 21, 2012, 07:23:13 PM
 #69

Hi Goomboo, Thanks for the interesting thread, very well written. I hope now more people will follow the trend and increase the "stability" of course. Will be smaller bubbles and unfulfilled hopes. But ... but ... Becomes a little harder to get money now for me personally, because of the fact that all this reading  Tongue Tongue

Donate me) 16f6iWHHkVEnDReeBQPT9GwCNwUfPTXrp2
Goomboo
Sr. Member
****
Offline Offline

Activity: 409



View Profile
January 21, 2012, 07:31:55 PM
 #70

Still short here @ 6.28 but lines are closing in. I do see a problem with bitcoinica.
If there is a crossover and I want to go long it will be impossible  to do because of that *
Only option is to exchange your USD to BTC but bitcoinica rates aren't the best.

Yeah, on the long side, I typically will just straight up purchase bitcoin if it is maxed out.  Having funds at Mt. Gox for longs and Bitcoinica for short is how I play it.
Goomboo
Sr. Member
****
Offline Offline

Activity: 409



View Profile
January 21, 2012, 07:33:14 PM
 #71

Hi Goomboo, Thanks for the interesting thread, very well written. I hope now more people will follow the trend and increase the "stability" of course. Will be smaller bubbles and unfulfilled hopes. But ... but ... Becomes a little harder to get money now for me personally, because of the fact that all this reading  Tongue Tongue

Thanks for the compliment naima53,

Haha yeah, reading / learning never stops!
unicron
Newbie
*
Offline Offline

Activity: 25


View Profile
January 21, 2012, 07:38:34 PM
 #72


By the way, if no one has read this, it is awesome...a great reality check.  I think you can get it free in some places, but I suggest buying it to support the authors:

Reminiscences of a Stock Operator
http://www.amazon.com/Reminiscences-Stock-Operator-Investment-Classics/dp/0471770884/ref=sr_1_1?ie=UTF8&qid=1327114156&sr=8-1

The copyright is expired and the author is deceased.  Project Gutenberg has it:

http://ebooks.gutenberg.us/WorldeBookLibrary.com/confessstock.htm
buck92
Jr. Member
*
Offline Offline

Activity: 42


View Profile
January 21, 2012, 08:33:46 PM
 #73


By the way, if no one has read this, it is awesome...a great reality check.  I think you can get it free in some places, but I suggest buying it to support the authors:

Reminiscences of a Stock Operator
http://www.amazon.com/Reminiscences-Stock-Operator-Investment-Classics/dp/0471770884/ref=sr_1_1?ie=UTF8&qid=1327114156&sr=8-1

The copyright is expired and the author is deceased.  Project Gutenberg has it:

http://ebooks.gutenberg.us/WorldeBookLibrary.com/confessstock.htm


Nice find, I'm going to take a look at that while a wait for a hard copy to sit down to read with.  As much as a digital being as I am when it comes to books, I find nothing can replace sitting down and relaxing with a good book and a glass of wine.  It is kind of like vinyl records, I have hundreds of them because for some reason they just feel different and have a certain aura that just cannot be replicated.

Oh and I dig that quote Goomboo.  I certainly understand where you are coming from about the book being more philosophical and thought oriented.  Coming from a political world I understand just how important of a role conceptual concepts have in grasping the bigger picture. After all how are you going to be a successful in the world of politics if you don't have an understanding of the thoughts and actions of not only the politician but also the motives and physiological factors that affect the electorate? Not only that but sometimes just reading through and understanding someone else's thought process can give you a completely new perspective on things, giving you insight into opportunities that were previously invisible to you.

...Anyways little off topic but I think I am going to enjoy this book.
David M
Sr. Member
****
Offline Offline

Activity: 476


View Profile
January 21, 2012, 09:34:42 PM
 #74

I've found that the more time I spend in front of a monitor, the more likely I am to want to make a trade which typically leads to lost funds Tongue

^This.  Which raises the question of the longevity of trades.

The use of hourly data capture predisposes the trading longevity to short time frames (less than a week).
That is what I call "hard trading".   Over exposure to data and the emotional strain make it difficult to sustain.

Instead widen the time..... from hourly analysis to daily.

Hourly with 10/21 over 1 month. (fast)
http://bitcoincharts.com/charts/mtgoxUSD#rg30zigHourlyztgCza1gEMAzm1g10za2gEMAzm2g21zv

Daily with 10/21 over 2 months. (slow)
http://bitcoincharts.com/charts/mtgoxUSD#rg60zigDailyztgCza1gEMAzm1g10za2gEMAzm2g21

I simple trading strategy is to combine the two indicators:

i.e Use the slow indicator to determine your trend and the fast indicator to enter and exit.
When the "slow" is long, take all "fast buy" signals.
When the "slow" is short, take all "fast sell" signals.

The current price action from the 2 indicators suggest a "fast sell" into a "slow buy".  Which is not optimal but a good trader can scalp some change.

Aside:
The phenomenon of the "day trader/tick traders" used to be exclusively the domain of locals (private individuals with full licence to trade) on the exchange. 
The Clinton era bull run brought the concept to the "masses".
Throw in HFT, Bitcoin's true 24 hour exchanges and volatility and the concept of "short time frame" trading becomes normal.

I would just like to remind all new traders that going to sleep with an open position is not meant to be a gut wrenching experience.

chsados
Hero Member
*****
Offline Offline

Activity: 652



View Profile
January 21, 2012, 09:47:15 PM
 #75

I've found that the more time I spend in front of a monitor, the more likely I am to want to make a trade which typically leads to lost funds Tongue

^This.  Which raises the question of the longevity of trades.

The use of hourly data capture predisposes the trading longevity to short time frames (less than a week).
That is what I call "hard trading".   Over exposure to data and the emotional strain make it difficult to sustain.

Instead widen the time..... from hourly analysis to daily.

Hourly with 10/21 over 1 month. (fast)
http://bitcoincharts.com/charts/mtgoxUSD#rg30zigHourlyztgCza1gEMAzm1g10za2gEMAzm2g21zv

Daily with 10/21 over 2 months. (slow)
http://bitcoincharts.com/charts/mtgoxUSD#rg60zigDailyztgCza1gEMAzm1g10za2gEMAzm2g21

I simple trading strategy is to combine the two indicators:

i.e Use the slow indicator to determine your trend and the fast indicator to enter and exit.
When the "slow" is long, take all "fast buy" signals.
When the "slow" is short, take all "fast sell" signals.

The current price action from the 2 indicators suggest a "fast sell" into a "slow buy".  Which is not optimal but a good trader can scalp some change.

Aside:
The phenomenon of the "day trader/tick traders" used to be exclusively the domain of locals (private individuals with full licence to trade) on the exchange. 
The Clinton era bull run brought the concept to the "masses".
Throw in HFT, Bitcoin's true 24 hour exchanges and volatility and the concept of "short time frame" trading becomes normal.

I would just like to remind all new traders that going to sleep with an open position is not meant to be a gut wrenching experience.



this is such great advise.  and this thread is epic!
legitnick
Hero Member
*****
Offline Offline

Activity: 532



View Profile WWW
January 21, 2012, 10:40:11 PM
 #76

That was my trading strategy in highschool for about a year on investopedia, I doubled my fake 100k. Someone needs to setup a fake market for bitcoins sorta like how investopedia has it setup, I'd be willing to contribute to that project.

5 BITCOIN RAFFLE GIVEAWAY
"I dont lift" - Lord Furrycoat
StewartJ
Sr. Member
****
Offline Offline

Activity: 392



View Profile
January 21, 2012, 11:39:19 PM
 #77

GoomBoo, this is really great information, thank you for sharing.

Tempted to experiment with the GoomBoo System, curious to see what happens.  

If I make any profits, will pass on a 1% donation to you for each successful trade.

Sent you a donation now, because of the quality of trading advice you have provided on this thread.

Please keep the thread going!
StewartJ
Sr. Member
****
Offline Offline

Activity: 392



View Profile
January 21, 2012, 11:41:05 PM
 #78

Does anyone know of any BTC trading tools that has alarms for moving average cross-overs? 

Does Sierra Chartfeed have such alarms?

Thanks in advance!
chsados
Hero Member
*****
Offline Offline

Activity: 652



View Profile
January 21, 2012, 11:53:47 PM
 #79

Does anyone know of any BTC trading tools that has alarms for moving average cross-overs? 

Does Sierra Chartfeed have such alarms?

Thanks in advance!

ohhhh that would be awesome!  it couldnt be much harder than http://www.bitcoin-tools.de/ ?
elux
Legendary
*
Offline Offline

Activity: 1455



View Profile
January 21, 2012, 11:57:52 PM
 #80

Does anyone know of any BTC trading tools that has alarms for moving average cross-overs? 

Does Sierra Chartfeed have such alarms?

Thanks in advance!

Sierra Chart does have an event/alarm system, although I haven't one set up myself.
Pages: « 1 2 3 [4] 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 ... 59 »
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!