Jesse Liver-no-more

[kelvng105]

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

Sure.. use VIA and XCH .. this will be interesting

[hiddensphinx]

IOCoin is to appear on Mintpal V2 while lots of coins will be removed..thought JL?

http://blog.moolah.io/2014/09/01/mintpal-v2-tentative-market-listing/

[btcdrak]

I would love to know your TA for via now. There's been a lot of trading activity today.

[fuddudle]

JL Covered some basic TA for spotting volatile movements.

Volumes speak volumes about price

What I would like to add is whether JL can explain how to use the volume bars (Light blue and black) on bittrex to show trends.

Right now, I see TA serving some major use but you have to remember that market conditions are not really in equilibrium.

Therefore, TA to spot non free markets of coins is where its at.

Furthermore, reading charts means that some given amount of what is happening has already happened. Whales often get in and get out way before that. At points where dips seem like attractive buys, its learning back towards a perfect market where all alternative substitutes are considered. Clearly this isn't the case.

DRK had a major dip and continuing downtrend for sure, but that had hardly anything to do with market sentiment towards the coin.
A group takes it long and then leaves it. The lack of push upwards and outward flowing market cap means more and more coins dividing into smaller and smaller market cap value. A decrease in price per coin.

The clear winners for whales at this point are not coins that have been pumped before, because the % gains (yes people only care about profit and %'s) don't measure up to investing in new coins and taking their cap high then exiting.

I don't believe DRK will go up organically as a result of an RSI signal, I believe it'll go up because some larger whales feel like playing it again.

If you look at the front page of bittrex and look at what the highest volume coin is day to day, their daily highs, and lows, its almost a new coin every single day.
BTC and LTC are less receptive to these huge swings because it takes much larger whales to influence price, but they do still happen. However compared to the new coins coming in everyday, no comparison.

What are you thoughts JL?

[masternode]

I would love to know your TA for via now. There's been a lot of trading activity today.

Hey there, VIA developer, it basically looks like VIA got pumped with volume when it broke and held 32k sats. It looks like many parties came in and tried to pump it and play it, and I was briefly watching the volume time-and-sales and was surprised to see many large sales meeting those large buys, hence VIA didn't pop up more and reach my 46k sat target. I will now remove 46k as an initial target because it looks like it might be targeting something higher.

As an aside, I'm kinda disappointed that once again my target was just slightly under-cutted. It is obviously possible some whales are slightly under-cutting me and jumping the gun on my targets.
The simple solution would be to stop giving out targets or move to Twitter with "I am selling now" posts....or stop posting trades and setup a Jesse Livermore Trading Coin on VIA.
We'll see.

Overall though the fact that VIA has not crashed/dumped with any kind of real volume behind it (yet) is a huge positive for bulls. On the other hand, this lack of conviction volume can push the price anywhere including down down down, however I think as long as 32k isn't pierced, this should see higher-highs above today's high.
JL

JLTCOIN on ClearingHouse would be awesome.  I'd buy some just for fun.  And if you deliver, I'd buy more not for fun.

[andreibi]

"Jesse Livermore Trading Coin"

Do it!

[J9901]

Do it Jesse.

JLT @ XCH. I'll buy some in a heartbeat.

[RichardT]

@Jesse Livermore: 

Have just recently been introduced to your thread.  Read through all your comments on this thread and through some of your previous posts in your history (sorry for being a stalker).  You seem very professional and know what you're talking about.  Definitely peaked my interest.  Would like to hear what you think about Keycoin.

[EtherCoin]

Taking a medium-term position in BTSX-BitSharesX on Poloniex here in lower-6000 sat range. Volume is now tight and price has a beautiful base. Huge potential building up. Definitely could be a brand new niche in the Cryptos world they have going there.

Thanks for input so far, too.
JL

Total coins are 2 billion, what kind of price do you think the coin could have in its maturity?

Eth.

[EtherCoin]

Taking a medium-term position in BTSX-BitSharesX on Poloniex here in lower-6000 sat range. Volume is now tight and price has a beautiful base. Huge potential building up. Definitely could be a brand new niche in the Cryptos world they have going there.

Thanks for input so far, too.
JL

Total coins are 2 billion, what kind of price do you think the coin could have in its maturity?

Eth.

Truly hard to speculate on BTSX's, or any crypto's, price at maturity. If BTSX fulfills a better, more efficient way of running an exchange and bank then what exists already, then the sky's the limit.
JL

Well I consider you a really skilled TA guy, of course my question would be a bit hard hehe.

What I mean is the fact that the 2B is quite a big qty of coins, but it decreases daily with transactions (not sure how it works exactly), so all this factors kick into the already difficult task.

Anyway your call was great.



Eth.

[EtherCoin]

Count me in... my wallet is still synchronizing, as soon as I can I will get some of those assets.

Eth.

[EtherCoin]

Getting this error while trying to purchase asset.



Eth.

[AizenSou]

Introducing the JLTradingCoin on ClearingHouse (clearwallet.co).

I have created a ClearingHouse token with 100,000 total tokens and put 50,000 of them on the ClearingHouse Exchange. I will start the exchange rate at 1 VIAcoin for 1 JL coin. Going forward though I believe I will have to set the NAV based on each days asset appreciation and depreciation.
To purchase JLTRADINGCOIN's you first buy some VIA coin at Bittrex or Poloniex and then transfer into the clearwallet.co ClearingHouse site address. From there you just purchase as much JLTRADINGCOIN as you wish (at first I will stress that you should only send a minimal amount because I am going to figure out the best way of doing distributions, withdrawals and deposits) and I'll do a daily sweep of new buys and try to do a twice-weekly sweep of any JLTRADINGCOIN token sell orders.
My plan for now is to do a bi-weekly distribution of profits. All you have to do is hold JLTRADINGCOIN and the ClearingHouse system will automatically distribute VIAcoin to your address.

You Must Agree to these Risks before purchasing JLTRADINGCOIN:
1) This trading plan could absolutely fail and your principal could be lost. I REPEAT, DO NOT BUY AN AMOUNT THAT YOU CANNOT AFFORD TO LOSE. I will not run off with your coins but I make no guarantee that I will be successful at this endeavor.
2) Due to the conversion to VIAcoin that is required, this endeavor is reliant upon the VIAcoin exchange rate staying steady.
3) I make no guarantees of performance whatsoever. Past performance is not a guarantee of future success. Do not forget that.
4) If something happens to me or incapacitates me I will be unable to purchase back anyone's JLTRADINGCOIN's if they want to withdraw. Additionally, I may be unable to do daily sweeps of any new buys. Additionally, if something severe happens I do not currently have a back-up plan yet in place. I will work on educating a family member of mine who is also heavily-invested in Bitcoin though, so he knows how to access my ClearingHouse account to perform any withdrawals.
5) I am not a financial advisor and make no claims as such. This topic on bitcointalk was solely made for educating and this JLTRADINGCOIN is solely an experiment in connecting a coin to trading activity.
6) I hate to do this one, but you must essentially think of this coin right now as a donation to me. Again, I will not run off with your coins (I am in fact in the process of pursuing someone who did run off with many of my Darkcoins, re: https://bitcointalk.org/index.php?topic=626715.0;all) but to make this 'legal' I must insist that you treat this as a donation to me and I will treat any distribution and withdrawal back to you also as a donation to you. Having said that I hope you understand how much I do not want people to purchase large amounts of JLTRADINGCOIN right now. This is a fun and interesting experiment which one day could be huge!
7) I will post all trades after the fact now as soon as JLTRADINGCOIN's get bought.

Here we go!

JL

Edit: I will give the VIA coin address tomorrow where any purchased JL tokens go to. Additionally I will outline my fee for ''managing " and other things I forgot to mention above.

Right after I sold all of my VIA? Any chance of joining in with other coin, DRK for example ? Thanks JL in advance.

[Macno]

10 Via invested, good luck!

[EtherCoin]

10 Via invested, good luck!

I am getting an error all the time that i try to purchase, mh am i missing something?

Look above for my error window, have u seen anything like that?

Eth.

[Macno]

10 Via invested, good luck!

I am getting an error all the time that i try to purchase, mh am i missing something?

Look above for my error window, have u seen anything like that?

Eth.

No, sorry, everything went fine for me.

[EtherCoin]

Reported in VIA forum, IRC , XCH forum, no answers.
Anyway I found the glitch, looks like I cannot do transactions for more than certain amount at once

If i split the orders, it goes through.

Eth.

[EtherCoin]

Check your PMs btw )

Eth.

[btcdrak]

Really short-term one here:
Darkcoin's been making higher-highs and higher-lows for the past 12 hours; looks like a breakout's imminent. A breakout would be above .00535 and would target .0055 initially and then .0058 and then who knows what; falling below .0049 might negate this trend.
I'm already quite long DRK so won't go long(er) but will watch.
JL

Edit: These prices are based on MintPal for their high DRK volume.

Both targets (.0055 and .0058) were easily reached on DRK.
It is short-term do-or-die time now for DRK though.
My guess is these circled trendline resistance markers, at .0065 and .0072, will be hit soon, maybe even within 24 hours. If DRK just bounces into them and continues to consolidate again it wouldn't be horrible but if it bounced off them and fell on volume that would be a different story. Luckily there is a conglomeration of support/trend lines below us now at .005.
Hopefully, to continue this move, it breaks them or at least stays very close to them before finally breaking them on huge volume.
FYI if it broke these trendlines my first target would be 0.013 due to the inverse head-and-shoulders pattern which has been developing over the past couple weeks/months.

JL

Looks like we ran right into .0072 trendline here. Give it some time to break above that.
And I'm working on reconciling the JLTRADINGCOIN addresses; it seems the ClearingHouse system lets you create and add coins however it doesn't let you destroy coins. So if I wanted to do a 1% distribution right now it would end up under-paying JLTRADINGCOIN holders due to there being too many coins owned by my originating address. I believe I will send out the remainder of coins (ie many more coins) to the addresses who bought in order to correct this and the starting NAV will go from 1 VIA = 1 JLTRADINGCOIN down to 1 VIA=.0005 JLTRADINGCOIN's or so.
JL

You can test things out safely at testnet.clearwallet.co. PM me your testnet address and I will send you some testnet coins.

[kelvng105]

"donated" 550 VIA.. let's see how this goes.. GL and I believe in you JL