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RE: Relax - Combining the Bear Market with the Bitcoin Wedge
Very viable perspective, not a bad thing for switching gears and buying up or swinging on the way down.
Very viable perspective, not a bad thing for switching gears and buying up or swinging on the way down.
I think so - it leaves room for everything to play out... no experienced traders saying, "I don't know, this doesn't look deep enough - makes me feel uneasy..."
I've been looking at the 2015 and 16 end of year scenarios and the 2017 dips, and it's really as if, simplified, you get this bigger crash about once a year and lesser ones about every 5-6 weeks, these may last a week or two, while the bigger dip, lets call it a crash, creates a bear market of a few months - it's not necessarily always the end of year dip that's biggest.
Or rather, that's what happened before, when the market cap was low.
But that has changed... and so we may be done with 2 months of a bear market this time and all set to cash out from then onwards, because most of us have been learning a lot lately.
I also think day trading can be good practice, just don't risk everything - take it easy ;)
No day trading for me maestra.
But your few months bearish market seems very reasonable. 17K was the real dead cat bounce.
@CI is waiting for 8300 and I'm beginning to suspect he's right, while I suspect we may slowly trend down to it rather than spike down.
There have been some fearsome down spikes but no capitualtion low that I see, yet.
I'm fat BTC, nearly 50%, and only about 15% cash (unless I decide to scrape a little more out of the stock market). So I'm in hodl and nibble mode. Almost added some ETH at 911 today but it only went down to 917 and I have to remind myself never chase a stock.
Who'da thunk cryptos could become so boring...
Be well,
Rick
I understand, but it's a matter of how much time you have - if you work online, it's feasible and you only need to conquer your initial aversion. I the end, day-trading will be more profitable than hodling and waiting for months that something finishes a "healthy correction" and investors get back their frail nerve to actually bet money on it. Or so I think ;)
You may be right about the profitability of day trading cryptos. And if anyone can do it well I think you may be one the rare few. IMHO, the importance of avoiding emotional involvement in the trade is crucial and in the fast pace required for day trading it is probably impossible for most.
Plan the trade and trade the plan! How the hell can anyone do that rapidly? Not me.
In my dwindling spare time I've been thinking about getting a trading bot running. My cousin is considering writing his own (he has the writing skillset but his practical trading experience is nearly nil). I actually reached out to Haas at one point, but they are too millennial for me and I won't pay anyone if I can't talk to someone on the phone first.
More later, my wife just hijacked my agenda for the rest of this morning.
Ciao,
Rick
Back now, honey-do list temporarily caught up.
Well that sucked.
Stock market opened strong this morning, my whole portfolio up 2%. For me that's a good day in the market, much better than average, but everything turned around while I'm working on more important things and I'm down 2% at the end of the day.
Oh well, stuff happens, and this market has been so strong that only a complete idiot could fail to make money in the past year. By that measurement standard I'm not a complete idiot 8-)
GDAX doesn't provide any notification about executed trades, no email or text notification option and I'm too easily bored to watch it continuously. Does your exchange notify you when an order executes?
Ciao again,
Rick
They only notify when you add and withdraw and such, I would think that sending people mails because of such things would both eat resource and present hackers with valuable information - even geniuses like Hillary used insecure email servers ;)
I never got on GDAX because they wanted some ID info I had already given Coinbase, and something between the two didn't work out, so I grew bored and went somewhere else, but the basic setup should be the same mostly...
I heard that limit orders don't always execute when the markets are tight, anyway - that can be fatal, best to watch what's going on.
They limited my ability to correspond to one uttering a day, so I have no idea if I can post this comment as I already answered @wk93 above...
I'm outraged! #free@jojof
What eternal idiot is throttling your precious utterances?!?! >-(
I've got this friend, Vinnie, and well...Vinnie breaks legs for a living. He's a resource I don't resort to very often but this case definitely warrants his involvement. Just tell me who and where and I'll have him on it like white on rice.
But seriously, I know GDAX has the high quality problem of too many people want to be customers. If GDAX goes public I'm buying some.
I trade stocks at TDAmeritrade and they have all kinds of automated alerts I can use. I get an automated email every time a trade executes in my account and every time the price crosses any kind of trigger level I set. This is not as obtrusive as it might sound because I don't trade much and I don't set a lot of alert triggers, but it is a feature I like.
Done right the resources and security threats of such emails are miniscule and trivial. It is all about the customer experience.
GDAX only meet a very low threshold of customer experience because hordes of hungry crypto speculators are barraging them with applications. For us US denizens GDAX is a pretty safe choice because they are determined to be regulation compliant as US regs emerge in cryptos.
For you EU players there are probably better options. Like iit or not, for at least a little while longer we have to play by the rules of our respective nation-states.
What could you have possibly done that merited throttling? I follow you and I don't see anything excessive, bashing, demeaning, violent, or spam. I see various steembots in other places that almost made me decide steemit was going to be a waste but you and a very few others served to keep me here.
I'm outraged. This can not stand. What can I do to help besides rant and rave?
Regards,
Rick