Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
I was reading about that earlier. It will be interesting to see exactly what effect it has since we will be able to know which candle without a doubt. I think I read his actual buy amount was going to be closer to $750 million, but still a hefty amount. I think we need to close the CME gap at $117,500 before we blast off to new highs, but maybe that happens tonight or tomorrow morning before the big buy.
If anything, he's going to buy this dip if/when the CME gap gets filled. Or it might be just an attempt at manipulation.
EDIT Here he is? 🐜 🐜 🐜
Is the CME gap in the room with us now?
If you don't want fiat, there's always the option to invest in gold.
invest in gold.Holy shit.
~snip~
Besides, if everything goes to hell and we are left without the internet and food on supermarket shelves, gold will be worth something - Bitcoin, dollars, euros, stocks and bonds will be worth nothing.
Armageddon scenario does not seem to justify any more than a 1% allocation in gold as compared with the bitcoin stash size, and perhaps a guy could have another 1% in gold merely because he has a history and/or familiarity with gold. Therefore at most a 2% allocation to gold relative to bitcoin might be possibly be arguably justifiable. That hardly even justifies mentioning gold as if it were something seriously to consider.
Sure, it could be that UnDerDoG81 is sympathetic to gold.. yet it seems that UnDerDoG81 is largely inclined to sell 10% of his bitcoin as a kind of downside hedge. I think he is overreacting, but anyhow creating a 10% hedge is not really unreasonable... even though yeah, various fiat, stable coins and/or USD is not really going to hold its value over several years, yet sure, we cannot really speak for exactly what UnDerDoG81 is hedging against, so sure, even though I am rolling my eyes at the suggestion, it is not totally unreasonable... given that so many folks still seem to have a certain level of love for their shiny rocks, which may well include UnDerDoG81 in that shiny rocks club. Perhaps?
[edited out]
not a fan of usdc or usdt.i would rather hold gold , silver ,actual cash and cash in the bank.
now I assume you have ten 12 year old coins
are selling one one and keeping nine.
with the great hodl you did do not freak out that you held all euro and euro dropped.
or you held all dollars and it dropped or all pounds and it dropped.
you still have nine held btc as compared to one sold soon.
what ever euros dollars or pounds do it is but a small piece of your wealth.
and jjg was out of context knocking buying some gold or silver or platinum in your particular case.
For whatever UnDerDoG81 seems to be wanting to achieve, I cannot really see why he is giving too many shits about supposed risk of holding something like USDT.. maybe on exchanges and/or in some private wallets. I am personally not a fan of USDC, but in the quantities that UnDerDoG81 is considering holding, it might not be a big deal.. especially if he has only a portion of his whole sale amount in USDC.. so maybe $25k to $40k might be 1/3 to 1/4 of whatever fiat or fiat-pegged kinds of holdings that he ends up with.. and sure, I don't mind a bit of dividing up funds and really in the whole scheme of things even $20k to $40k held in each of the various kinds of fiat or fiat pegged coins does not really seem like a big deal since it might be ONLY around 0.2% to 0.4% of his total stash value accounting for the value of the bitcoin and the value of the various fiat pegged coins that he might end up holding.
After reading some informative inputs by WO members, I have seen a parallel from a book that I ve read some time ago, titled - "Wizard of Markets," The Author specifically interviews top/legendary traders who made it big in the stock market. The important thing i noted from most of the interviews and also from an anonymous trader (since he liked to respect his privacy), that there is no general rule of thumb in trading. All traders who began with zero to no expertise in the field, speaking for them, most of them had totally different backgrounds. They were all floor traders (which is the way the used to trade in the olden days).
All of them lost money in the first few tries. Then, when they developed their own technique through their own analysis - whether fundamental/technical or just one of them or none. They made consistent wins.
Two things i noted also from the book
1) They never over trade
2) They always had a journal - which helps learn their own state of mind before analysis & trade and after.
Slowly, their balance went to millions and colossal percentages of returns.
So, it is just learning key techniques, implementing them. Finding your own way of trading - Without self-doubt, which is the key part of emotional discipline. This I think is the most important part of trading.
Overall discipline is also considered as key here. Which again, has no general rule of thumb since we are all different in our ways.
One thing I'd like to add here is that we now have various tools to back test our trading. Like paper trading (without risking real money), you can also get historical data and such from tradingview etc.
I guess these points which I have noted and which helped me in my journey will benefit the futures trading novices.
“Do not follow where the path may lead. Go instead where there is no path and leave a trail.”
– Ralph Waldo Emerson
All of them lost money in the first few tries. Then, when they developed their own technique through their own analysis - whether fundamental/technical or just one of them or none. They made consistent wins.
Two things i noted also from the book
1) They never over trade
2) They always had a journal - which helps learn their own state of mind before analysis & trade and after.
Slowly, their balance went to millions and colossal percentages of returns.
So, it is just learning key techniques, implementing them. Finding your own way of trading - Without self-doubt, which is the key part of emotional discipline. This I think is the most important part of trading.
Overall discipline is also considered as key here. Which again, has no general rule of thumb since we are all different in our ways.
One thing I'd like to add here is that we now have various tools to back test our trading. Like paper trading (without risking real money), you can also get historical data and such from tradingview etc.
I guess these points which I have noted and which helped me in my journey will benefit the futures trading novices.
“Do not follow where the path may lead. Go instead where there is no path and leave a trail.”
– Ralph Waldo Emerson
You should at least give a source for your quasi-plagiarized pieces of supposedly informative information.
Well, one more thing I'd like to add. Regarding my personal journey.
I tried this and it worked. But, since I was not feeling totally satisfied I decided to change routes.
FYI, I did options.
There are two reasons. One is that I am working on a host of other projects, which really interests me and thus more fun.
Second is that I just have no patience to sit and wait till my positions will trigger and such.
I just thought to give it a try since I had some free time from my other projects.
I tried this and it worked. But, since I was not feeling totally satisfied I decided to change routes.
FYI, I did options.
There are two reasons. One is that I am working on a host of other projects, which really interests me and thus more fun.
Second is that I just have no patience to sit and wait till my positions will trigger and such.
I just thought to give it a try since I had some free time from my other projects.
Bitcoin has done pretty good for those who have been focusing on accumulating and holding bitcoin for 2 cycles or more, which largely means going long, and there is no need for leveraging, margin or the use of various other financial instruments, whether options or otherwise... You likely lose your focus when you come to conclude that you are outsmarting instead of just ongoingly buying bitcoin directly on a regular, persistent, consistent and perhaps even aggressive basis until you have enough or more than enough.. but instead you think that you need to play with financial instruments?
Going by your forum registration date you don't even quite have a year in bitcoin, and you are already losing your patience on straight forward buying and/or longing of bitcoin strategy?
I doubt that you are in a great position to be giving advices... but hey, sure, you are free to say what you like.
Well, David Bailey posted 5 hours ago that he was “going dark” and since then the price of BTC is up about $1,500. Was that the smash buy we witnessed? Looking at the chart it seems like there could be multiple buys from $119K to $120K. I guess we’ll hear eventually (probably soon) what actually happened.
My dear man, I had seen this the first time someone posted it. The problem for me is that my PC's Time Zone and Buddy's Time Zone are entirely different. So I don't really keep track of what happened when. And I am ok with it since I just freestyle through life (mostly) unless there is something that needs specific attention.You can set your forum time in your forum settings.. it is the look and layout tab.. so you can make sure that your PC and your forum view is showing the same time as your timezone, if you want.
^wasnt the last god candle in the down direction?
LOL, Have to post a do something meme next and piss everyone off! 
BTC prices are not really doing that bad. Today, we were top 3 for our today's daily-weighted trade price.