Post
Topic
Board Speculation
Re: Lose all your capital fast, with MatTheCat and his TA 101A!
by
tmfp
on 27/04/2016, 10:34:51 UTC
I amn't counting on anything and can't say for sure that halving pump is a definite, but all signs point towards it being likely.

You're always looking for stupid 4 hour trades.  Take some ADHD medicine or something and you might stop losing money.  If you don't believe Bitcoin is about to rocket, you should probably slap yourself in the face several times:


I'd certainly suggest stepping back from things for the time being Mat, you're too emotionally invested in being right and very vulnerable to a "fuck it" fomo entry with weak hands.
I've been trading derivatives for a long time now and I treat Bitcoin as just another underlying instrument. I possess BTC on a separate fundamental/emotional basis, but my in and out trading is purely technical with longs mainly dating from the November break of ~320, which confirmed for me the establishment of a base.
Higher lows since then support the view imo that, although 465-500 is a resistance level, it looks more likely than not to break on this third attempt and overrun on stoploss and fomo buying to 600ish before becoming overbought, from where I'll scale up profit take up to maybe 50% of my long, looking to replace on a confirming retrace to ~500.
If these previous highs do hold, I would only say that it would qualify as a top formation if the March lows of 400 break soon, where I'd probably dump 50% and if the Feb lows ~363 are broken then I'd think about stopping out the rest, still with an average profit and walking away, although I'd still keep some "physical" coin for the sake of it.