Quote from: Torque on June 15, 2016, 07:26:31 PM

Mat makes me sad.

Whilst I and others called the Bitcoin bottom incorrectly (partly because we bulls just don't care, and will suffer a little in the red just to continue to accumulate more because we know it's going to be HUGE one day), Mat called the bottom correctly at around $200/btc. He was supposedly sitting on cash at the time, but because he sees Bitcoin as nothing more than a short term scammy trading vehicle, he refused to get long at $200/btc and just ride it out.

Not true, cos it's worse than that.

I got long at $232...and held for fucking ages...saw $315, and then away back down to $100s, so when it got back up to $325, I sold......Bitcoin then kept going up, so I sent double the money I originally had at the exchange, and FOMO bought at $390, sat starting at $500, refused to sell on consolidation back down at $370, then despair sold at $300.

This was the point I decided to learn to trade. The focus of the early part of the course I took, was very much on range trading. I was kind of getting good at at, but was always getting FU'd out of positions, cos that is just what happens to n00b traders on Bitfinex, then I started to string together some good results, so decided to start this thread, which was the start of me learning that range trade setups don't work too well in the face of a raging bull market.....actually looking at stuff like MAs, and TREND IS UR FRIEND, wasn't until part 2 of the course (which is something I was pretty pissed about), by which time the market was already teaching me all about not betting against the trend....and now here I am.....

....one of the reasons that I haven't FOMO bought Bitcoin ages ago, like I done many times before, is cos I have learned not to FOMO buy. In most market states, this would be a very wise decision. During the Bitcoin pump, it has proven to be a terrible decision, and of course, at some point on this totally and utterly manufactured pump, FOMO buying will prove to be a terrible terrible decision for a great deal of market participants. It always does.

Otherwise at the moment you are right. I am a loser trader, and I make terrible decisions, even though my broader judgement is often pretty good. There are clearly psychological reasons for the conscious decisions that I make, that go against the more subtle, but wiser subconscious instincts, and nothing will force a person to take a good look at himself, in regards to all this sort of stuff, like trading. I consider all this simply part of the learning process, a learning process that I wouldn't undergo, had I just put $10K or whatever into Bitcoin in 2015 and forgot about it up until now.

Overall, I have given more to the Bitcoin market than I have taken from it. But since learning to trade, I have taken more from Bitcoin market than I have given to it, so despite having missed around 85% of this pump so far, I am perfectly happy with the way things are going, and quite frankly, I see learning not to give a fuck about missing some manufactured ramp (these things happen all time, all over the place), is just part of the necessary learning process.