Quote from: Endersgamer on March 29, 2015, 09:22:28 AM

Quote from: RyanPumper on March 29, 2015, 01:01:36 AM

Always keep in mind that there are hoards of deep pocketed traders who play these markets but arent frequenters of the Bitcointalk forums. They make most of their trading decisions based on technical factors alone. So dont get too engrossed and absorbed in the daily noise and chitter-chatter of the market. When the technicals of a coin are in perfect order then it will attract volume regardless of what the general sentiment of the market is.

Its only this week that i have truly realized this....its funny to see people respond automatically when people say that a coin is dead. You can see how instant the reaction is by how quickly the price falls, and it happens all the time

Then the "dead" coin does a 360 and starts pumping like crazy

How many people were saying SDC was dead before it went apeshit and reached a new all time high

Technical analysis is the lord of prediction if you're doing it properly Wink

Indeed... Behind a facade of pompous jargon and noble affectations, there is the exact same amount larceny taking place in the crypto currency markets as there is in any other financial arena.

You have to think of the type of people that this market attracts.

On one side you have professionals who have been operating in a wide variety of financial markets for years; penny stocks, forex, equities, commodities and etc. These guys have already fought, won and/or lost several battles in the other markets that i mentioned, and so they come into crypto with experience and know how.

One the other side, you have people who have entered this shadowy realm of finance for the same reasons a woman becomes a prostitute: to avoid the menace of hard work. Simply, they look at trading as a practical means of making money for those with no special talent for anything else. They think trading is an activity that requires little in the way of intellect

So it's simple to see why this market is loved by a few people, and hated by many.

The professionals are exploiting the no-hopers who sincerely believe that this is a legitimate auction market.

This isn't the case.

In this market, anyone is free to create their own auction house - therefore anyone is free to create and to play by their own rules.

The orderbook is a rigging device... The chart is a rigging device... the various information sources are used as rigging devices - and the profiteers are the ones that understand that these devices are used to initiate rallies (pumps) therefore they don't waste their time trying to keep up with the latest gossip, they simply follow and track manipulation and position themselves to profit because of it.

You see pumps aren't a natural phenomena, they are 'created,' and they can only be created in climates that are conducive to allowing volume to flow into a coin and send it's price into a new stratosphere - the devices that i mentioned above will always reveal when a coin is ripe for the pump.

Simply put... Trading is just like a dance, and just like with any other dance, there is someone who initiates the dance, another person that leads the dance, and another that follows.

I mentioned in another post that your natural instincts are used against you on a daily basis in this market... If you see a coin pumping into extreme high, what are the feelings that you're overcome with? If you're already in the coin, you'll feel excited and you'll also have a hint of disbelief that, finally, you bought at the right time... correct? Well it is this natural instinct that would cause you to hold the coin longer than you should, until it starts to decline in value. What about if you weren't already in the coin? ... You'll obviously feel cheated by the fact that you saw the coin a day before trading at a low price, but you skipped on the opportunity.. But then you'd look at the trading history and see a string of green market buys before convincing yourself that the pump still has miles left to go.. so, you buy in.. just before the coin starts to plummet in value. This is another example of how natural instincts will mislead and misguide you in trading

You have to understand that everything that you see happen in the market is intentional, therefore this is not a game of "good instincts".. it's a game of knowledge... Simply put, 'knowing' that a pump is going to occur is much more rewarding than 'thinking' or 'feeling' that the price of a coin is going to jump

It all comes back to perspective... those that understand the true rules of the game will always out perform those that approach trading with a gamblers mindset

People who approach trading with this gamblers mindset are often the ones who are swayed by the most unadvanced forms of market manipulation