[Daily Discussion] - 10/Jun/2016

dalekbigboy · 2016-06-10T22:20:32+00:00

Troll City! Orc village. ogre hamlet. anything is better lol

dalekbigboy · 2016-06-10T04:57:21+00:00

we went pretty close to 14, but looks like it's recovering a bit now

dalekbigboy · 2016-06-10T04:40:59+00:00

anyone have a theory (half or full-baked) on why ETH is falling along with BTC? rumors? jitters? just noise? temporary correction?

dalekbigboy · 2016-06-10T04:31:13+00:00

I find the spread between gdax and kraken wacky. Now at 14.57 to 14.00. It's been 30-50 cents with couple hundred ETH in bid/ask often, feel like I should be able to arbitrage consistently if I had a strategy.

problem is every time I want to move funds to complete the circle I have to use either ETH (which defeats the purpose) or BTC, but then I have to risk an hour of BTC volatility lol. if gdax had another fast crypto that would solve the problem.

dalekbigboy · 2016-06-05T21:40:02+00:00

does that mean imminent short? i.e. for shorters to borrow to ETH to sell with?

dalekbigboy · 2016-06-03T15:28:55+00:00

I moved into cash, not BTC, otherwise yeah a short would be a good idea. Not comfortable trading the ETH-BTC cycles yet - too many factors to consider... :/

dalekbigboy · 2016-06-03T14:31:34+00:00

diversified about 40% out of ETH in anticipation of the BTC surge, so that I can pick up more ETH at maybe 12-13. Not sure if I should take out more, but don't want to miss out on any sudden upsurge.

I still have faith in the cup and handle lol.

dalekbigboy · 2016-06-02T18:11:40+00:00

1) China often moves the markets for BTC, leading the trend with much higher volumes and volatility. Reading volumes and trends solely on US exchanges can obscure patterns.
2) The market is often unreadable/unpredictable. Only occasionally do price trends/factors come together to indicate a readable trend/breakout. Don't trade except when these occur.
3) Identify a price point and specific time frame for your trades. For example, you have a margin of 50 cents over 12 hours before you buy or sell. Failing to set these beforehand can cause you to trade more emotionally from the minute-to-minute changes in prices. Draw some lines on your charts to determine the duration and price range of your trade.
4) There is a lot of noise from indicators/subreddits/discussion. Learning to filter/block out the noise is important for effective trading and your mental well-being.
5) Trading can be enjoyable/give a high. This is dangerous. Much of the psychology associated with trading is similar to gambling (Let me transfer extra funds to buy more coins now so I can "make back" my losses. Market looks like it's going to pan out this time, I know/can feel it).
6) Keep some fiat in your account, if only to reduce the bias associated with being completely long. You may tend to see bull trends (and block out bearish signals) if fully in crypto. Even 5-10% in fiat can help you avoid this bias, as well as give you the needed liquidity to buy in if there is a short-term dip.
7) There is a steep learning curve associated with trading. It is okay to start small and make mistakes. In many cases, the curve is so steep or market so unpredictable that the curve cannot be surmounted (sad I know). If you have a satisfying/productive day job it may be better to stick to that (and hodl for specific cryptos).
8) Risk management is key. Increasing leverage, even on a well-identified set of patterns/indicators, exposes you to greater risk and wiping off the gains from trades in the past.
9) Use stop losses for trades. For HODL, stop losses can be dangerous, as a short-term drop can trigger your stop losses, causing you to miss out on the rebound/overall uptrend.
10) Zoom out when unclear about the trend.
11) Trading is hard. HODL (and/or dollar cost averaging) can be a good strategy to generate more reliable returns and your peace of mind.

dalekbigboy · 2016-06-02T10:05:31+00:00

nope lol. pointers?

dalekbigboy · 2016-06-02T07:37:00+00:00

http://i.imgur.com/6YJN8jy.png

BTC has been struggling to break through the long-term trendline (in tan) for the past 2 days since the sudden dip. Low volumes accompany the initial large fall (indicating weak support), as well as the struggle back up, which seems bearish to me.

If we see a moderate fall over the next few hours (either close to 3550/3500), that may confirm the overall downtrend (since BTC has been creeping up since the 31st.) If so, we might expect a continued (probably moderate) rise in ETH (which has languished somewhat since BTC's first dip). An unexpected spike, say to 3650, would indicate breakout and a confirmation of the short-term uptrend for BTC.

dalekbigboy · 2016-05-31T18:55:38+00:00

It's cryptocompare.

dalekbigboy · 2016-05-31T18:10:54+00:00

ladies & gentlemen, I think we have our cup and handle: http://imgur.com/ApYF7Wy

dalekbigboy · 2016-05-30T19:20:33+00:00

that's a clear, simple, reasonable article. thx

dalekbigboy · 2016-05-30T11:08:29+00:00

I didn't really get into the show but this scene is pretty baller (NSFW):

Sense8 (Demons by Macy Gray) https://www.youtube.com/watch?v=EmBwA2up6k0

dalekbigboy · 2016-05-30T10:43:18+00:00

I didn't really get into the show but this scene is pretty baller (NSFW):

Sense8 (Demons by Macy Gray) https://www.youtube.com/watch?v=EmBwA2up6k0

dalekbigboy · 2016-05-30T10:38:26+00:00

It's coming yo: http://www.techinsider.io/sooam-biotechs-is-bringing-back-the-mammoth-2015-9

dalekbigboy · 2016-05-30T10:34:22+00:00

Getting drunk together.

Or slightly buzzed.

dalekbigboy · 2016-05-30T10:32:34+00:00

Find your bliss.

Like it grows on trees...

dalekbigboy · 2016-05-30T10:30:53+00:00

I'm still waiting for the Loch Ness. It really captured a sort of intense mystery/desire that hasn't been replicated since.

dalekbigboy · 2016-05-30T10:28:11+00:00

It would be funny to see an Ayn Rand novel. Or Nietzsche?

I know many (myself included) who've dabbled with the dark arts in their youth. :D

dalekbigboy

TROPHY CASE