Jesse Liver-no-more

[masternode]

Curious.  Looking at the order book, I'm pretty confident it's about to break the trend line.  I clearly see a double bottom forming (double bottom @ around 0.0003).  But I'm not sure if the time frame is too long (@ 2hr), or if that is even a factor.

It just seems like the formation has a lot of the criteria that fits the big W description in the link below.

http://thepatternsite.com/bigw.html

Just wondering your take on this Jesse.

[2dogs]

Confirming your observation on DRK - have closed all DRK long positions here.

[SkyValeey]

Very interesting analysis, thanks for that thread, i'll follow, great stuff:)

[andreibi]

Nice thread to watch. I'll be watching this if you have the moxy to trade good.

[Coinfan]

You are violating your third rule and actually suggesting others to violate it too

But some good (and, it seems, honest) comments.

[Coinfan]

The good buy on GB was two days ago, at around 0.000006, when some traders started twitting about it, but since we had a double top around 0.00001 that was breached (and a double bottom at around 0.0000056), I guess it can go to about 0.000015. I just bought some at about 0.00001. But with an eye on the 0.00001 and on the 20 day moving average that has supported the price as a mental stop.

[SkyValeey]

What's about DRK? below 54 or not?
i think yes, maybe even below 5 this week...

[SkyValeey]

Any update about DRK? Hmm fake walls 600k and 630k removed, but still very boring and lazy...

I wish 694.9k + next days 

[TsuyokuNaritai]

And speaking of MintPal I think the signs are definitely pointing to them using customers' DRK holdings to short-sell DRK. This is still a pretty preliminary theory of mine but I'm noticing things from MintPal that just don't make sense and circumstantially point to them going short DRK. I'll explain later and will come up with a way for the community to test this theory soon.

Crash Mintpal - Buy Darkcoin!

[hiddensphinx]

Following this thread 

me too 

[Trivelius]

Excellent job Jesse! +1

[SkyValeey]

GB - just bulltrap or bullish flag to new flag soon and break new high? 
Bullish cap and handle pattern?

[M4B0X]

http://i1070.photobucket.com/albums/u492/JesseLivermore/BTC82714_zpsec339fa0.png
Let's look at the mother-of-all-whales, BTC.
Right now there is a short-term inverse head-and-shoulders about to complete above a breakout of 524 on BitStamp. From there the target (T1) is just over 560....well if it breaks above 545 it will also trigger a larger inverse head-and-shoulders pattern which targets about 610 (T2).

Something to keep an eye on.
JL

Something fishy these days...
Was looking at Bitfinex, big players forcing traders into positions where they will get burned.
Similar fatwallet games in LTC market.

[dannyspk]

Interesting thread. Let's hear your observations on a possible falling wedge pattern in XC. What do you think?

[AizenSou]

DARKCOIN!!!!!

Funny how this works out that I am now going long, yet again, on Darkcoin after having recent successful and unsuccessful trades back and forth in it.
This one, though, looks good. Real good.
First off, there is a rather ugly inverse head and shoulders pattern here and while it has technically been broken already to the upside on MintPal, I believe what is happening is a whale is trying his best to accumulate without getting an ugly 30%+ fill price. There are few coins available on the ask without popping price. This is my own speculation but I believe it's an insider, connected with Evan or Kristov how is doing this accumulating here.
Second, this is the most basic of basic of chart-reading, there is a double-bottom that happened yesterday across all three major exchanges (MP, Craptsy, Bitfinex) and now we have actual buying pressure which is also corresponding with what could be really favorable reviews by Kristov Atlas perhaps.

So as you can see, the initial target is .006 with a stop below a break of the double-bottom across all three exchanges.
Trust me, I would like nothing better than to stay away from any more Darkcoin trades, but my gut is telling me this is the final end of the Darkcoin downtrend from May.
Technically, I would need to see a break above the falling trendline at .008 for confirmation though.

JL

One of the best threads which worths visiting in BCT now. I still regret didn't buy GB at 800 sat according to your post. Thanks for the excellent posts.

[fuddudle]

Looking at the order book IOC has double the sell volume. How did you come to justify this?

[TsuyokuNaritai]

Order books are useless for predicting future direction unless you are the big holder trying to get in or out.

Most traders want instant fills and don't even put their order on the order books and instead just jump on the best ask or bid. Darkcoin is an excellent example of this. For about the past 2 months the buy order book has been stacked most of the time and sell order book minimal and yet price went lower and lower. This was because other traders wanting out right away were consistently hitting the best bid with large sells and eating away at the buy book.

You've essentially contradicted yourself. In the scenario you just described, the price would have crashed much harder if the bids were extremely thin and much less hard if there were gigantic whale-sized bid walls. Order books are of limited predictive utility, but believing they have no effect at all on future price movement is spectacularly silly.

[Propulsion]

IOCoin still looking good, could use more volume now though.
Also, Darkcoin is looking like it will blast off big here soon. All it does is consolidate more and more. Not much more consolidation is possible until that thing pops and officially breaks out of this many months-long downtrend.

Moving on to a new endeavor I'm thinking about...
"Jesse Livermore Trading Coin"
With Viacoin anyone can create a coin for trading, and send distributions (dividends) to coin-holders. I'm thinking of starting a coin there which would allow you all to directly benefit from trades I perform. I think something along the lines of an exchangeable coin with a 10% bi-weekly distribution of trade profits to all coin-holders would be cool.
So you would buy the coin with VIA, I would use that VIA to trade into other coins and hopefully earn some profits.

What's the benefit to me?
Nothing at first but I figure eventually (maybe a couple weeks into it) a flat 5% of profits performance fee with a high water mark (http://en.wikipedia.org/wiki/Performance_fee#High_water_marks).


Let me know what you all think.
JL

How about I just give you 5 btc and if you double it, you take 10%?

[TsuyokuNaritai]

"Jesse Livermore Trading Coin"

I'd be quite tempted by this if I hadn't been burned by TradeFortress.

Suggestion: If you could figure out a way to do this with some kind of collateral held in escrow there'd probably be a lot more interest.

[AizenSou]

IOCoin still looking good, could use more volume now though.
Also, Darkcoin is looking like it will blast off big here soon. All it does is consolidate more and more. Not much more consolidation is possible until that thing pops and officially breaks out of this many months-long downtrend.

Moving on to a new endeavor I'm thinking about...
"Jesse Livermore Trading Coin"
With Viacoin anyone can create a coin for trading, and send distributions (dividends) to coin-holders. I'm thinking of starting a coin there which would allow you all to directly benefit from trades I perform. I think something along the lines of an exchangeable coin with a 10% bi-weekly distribution of trade profits to all coin-holders would be cool.
So you would buy the coin with VIA, I would use that VIA to trade into other coins and hopefully earn some profits.

What's the benefit to me?
Nothing at first but I figure eventually (maybe a couple weeks into it) a flat 5% of profits performance fee with a high water mark (http://en.wikipedia.org/wiki/Performance_fee#High_water_marks).


Let me know what you all think.
JL

I will support it. Just tell when do you start.