Quote from: Tzupy on August 30, 2013, 10:05:07 PM

@notme: your advice is correct in general, but there are issues with it. I can only react to a developing situation if I am awake.
During the last month several times I wouldn't have been able to execute a plan, because I was still sleeping at 6 am ( my time ).
This time I was surprised to see the whale buy at 6 pm, when I was awake but not expecting it ( not by the whale ).
I should probably try to write a trading bot that would execute specific orders while I am asleep.

Whenever I stay with large positions overnight I use http://www.bitcoin-tools.de/ to wake me up in case of any sudden price spike.

Also, when I can't use a separate monitor for a Bitcoin graph (and on a Windows machine), I run Mining explorer as my always-on-top ticker (with refresh rate set to 1 minute).

I consider such spikes at times inconvinient to both US and EU as more than just a coincidence, much in a spirit of Richard Wyckoff's description in his "Day Trader's Bible" (an excellent reading, BTW). In chapter "Trading Rules", on page 19 he wrote (note the fragment that I marked in bold):

Quote

A stop order should also be placed if the operator is obliged to live the tape for more than a moment, or if the ticker suddenly is out of order. While he has his eye on the tape the market will tell him what to do. The moment this condition does not exist he must act as he would if temporarily stricken blind - he must protect himself from forces which may attack him in the dark.

I know a trader who once bought 500 shares of Sugar and then went out to lunch. He paid 25 cents for what he ate, but on the returning to the tape he found the total cost of that lunch was $5,000 and 25 cents! He had left no stop order, Sugar went down 10 points, and his broker sent him a margin call.

It's not exactly your situation, but I hope you get my point.

Also beware, this book is so well-written that once you start reading it you won't be able to stop! And you will feel so eager to try all the tricks described.

McGyver

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