The Litepresence Report on Cryptocurrency

[fatjohn]

Sorry to hear about this. Don't really want to get into a thing, but personally, i don't feel pres owes me a warning. That might be different for other people and perhaps rightfully so.

Now, i still have skin in the game, most btc and a sizeable portion ltc.
What suprised me is that both went down equally, when normally ltc price swings are larger, definitely at these valuations. If you look to ltc/btc these are clearly the final stages of a closing wedge. Where will it go? The arguments.

Up:
The wedge held under tremeandous selling pressure just a couple of hours ago.
Ltc halving is still 15 days away.
Bitcoin could Have just tested the bottom of a 5 year long log channel (but this is a bit speculative see this chart from april https://www.tradingview.com/x/FsCnhZJt/)

Down:
Pres' bot sold
Litcoinhalving is only 15 days away
Market under pressure
Murphy's law

Just check in often if ltc btc goes under 0,014 look out below if it goes above 0,16 we're heading back to 0,032

Actually 0,0145 and 0,0155 should do it, that's how narrow this wedge is. Should resolve itself in a matter of hours.

 

[amonasro]

Are you in a position?

I must admit, I really should've seen that obvious descending triangle that let to the last dump, but I was busy with work and hiking out on Mt. Bai Hua in China and decided not to trade, although I could have. 4xforecaster was bearish, as well, which was another signal I should not have ignored, as he is a superb trader and has been doing this a long time. The pattern was there and both he and Chris Dunn, another famous trader, agreed on this so it should have been a slam dunk.

*sigh* next time...

Yeah im still long. I'm not sure why everyone's so emotional--disclaimer disclaimer disclaimer. I've held through worse than this. Pres has been lambasted for his predictions before when they were "wrong"... it's not like he is here to make you easy money, trading is hard. Really hard, especially when the market shakes out like this.

According to Wyckoff (which is the method I use) the shakeout happens when there are too many bearish traders but the majority of informed holders (the composite operator) wants to be bullish, so he allows the market to spring below the trading range for awhile to build up shorts and clean out the selling for a move up (in theory). In today's case the spring is on medium volume so we may have to live in this area for awhile to clean things up.

The he way he teaches you to look at things is by reading volume and judging whether the excess supply that would normally keep the price down is absorbed or not by the composite operator--that is, you must constantly ask whether the floating supply of stock is held by quality ownership OR by short term traders willing to sell at a moment's notice. The composite operator is aware of the tendencies of the average trader and uses the shakeout to pick up more shares at bargain prices.

When the the supply float is held by a majority of long-term holders after an extended sideways accumulation range, Wyckoff considered this to be the best place to initiate long positions in anticipation of a bull market.

 

[fatjohn]

Hey this is the first time i took an in depth look to the order book and it doesnt register stop loss orders (o buying when the price reaches higher than the current price, why is that?

 

[Dianne]

YES

Sell orders set for 0335

rebuying 0270's

I expect an opportunity to make that trade twice in a very short period in about 10-12 days.

Post from July 29 when presence was asked if he is still holding LTC. Never again, never again.

 

[fatjohn]

Pff dianne, you're saying things you might want to sit on for a while before you actually say it. Also with regards to a couple of posts back, be very careful of giving someone money to make money for you. Bitcoin universe is a wild thing.

As fontoday's price action. Something is brewing. I'm buying ltc if it goes over 0,0153 and I'm selling it if it goes below 0,0145. I hope it spikes though.

 

[Tycoon]

temporarily.

I was out on 8/6 around 2 am'ish

I don't recall the price.

okay. you were drawing nice charts projecting LTC to go to the moon, I asked you if cup handle was confirmed, you said you still waiting, so I desided to wait too. You know people are actually might be putting their real, earned money on your forecasts (sorry for my english), like I did, but you didn't even updated us on your LTC position in this thread. ah well. the slightest post like "I'm out of LTC" would do the trick.

 

[bullhammer]

LOL I'm leaving this thread myself. This thread has caused me far more damage then good.

I just want to stick up for LightPresence here, I know many have suffered losses here and I can identify with that for sure. Trading involves risk and everyone needs to take responsibility for their own trades and accounts etc. that is one of the reasons crypto is what it is, it is decentralized and one needs to secure and take full responsibility for their coinage(be your own central bank!). And besides LTC hasn't crashed that far I might add! I'm still in 50% LTC. I met LP maybe a year and a half ago in the BTC-e trollbox. We hit it off well discussing cryptos and trading etc. He has helped me recover coins off questionable exchanges for free (I gladly donated LTC to him which he did not ask for) Also he has helped with trading strategies at key times again with no compensation! He has always been a stand up guy and open and honest with me. I'm not sure what agreement everyone had with him regarding honey badger but the markets can turn on a dime! the markets can dump in the time it takes to take a dump! If one was waiting for trade signals simply on updates on this feed, something tells me you might miss huge moves! I'm guessing LP is pretty stressed now so I just wanted to state here for the record, I'm with ya LP %100.

 

[amonasro]

okay. you were drawing nice charts projecting LTC to go to the moon, I asked you if cup handle was confirmed, you said you still waiting, so I desided to wait too. You know people are actually might be putting their real, earned money on your forecasts (sorry for my english), like I did, but you didn't even updated us on your LTC position in this thread. ah well. the slightest post like "I'm out of LTC" would do the trick.

I'll stick up for Pres too. He is here to provide market analysis and, based on that, what he thinks has a high probability of happening today, tomorrow and next month. Nobody knows what will really happen, and if they claim to, they are full of it.

The worst is when I see new traders blindly following an analyst with a good track record, then they get burned and blame him when the tide turns and they haven't used stop losses correctly. That's trading 101. Good technicians can give you a road map, but the trader is ultimately responsible for learning how to safely drive the car without crashing, or stop the car and bail if things get too bumpy.

 

[Dianne]

I'll stick up for Pres too. He is here to provide market analysis and, based on that, what he thinks has a high probability of happening today, tomorrow and next month. Nobody knows what will really happen, and if they claim to, they are full of it.

The worst is when I see new traders blindly following an analyst with a good track record, then they get burned and blame him when the tide turns and they haven't used stop losses correctly. That's trading 101. Good technicians can give you a road map, but the trader is ultimately responsible for learning how to safely drive the car without crashing, or stop the car and bail if things get too bumpy.

You got it wrong. No one is blaming Pres. for poor advice. That's the risk we took. What I am upset about is after encouraging several of us to buy for the moon, once Pres. figured out he was wrong he dumped all his coins days ago and never said a thing. In other words he saved his ass, and left us holding the bag (literally).

 

[Tycoon]

I'll stick up for Pres too. He is here to provide market analysis and, based on that, what he thinks has a high probability of happening today, tomorrow and next month. Nobody knows what will really happen, and if they claim to, they are full of it.

The worst is when I see new traders blindly following an analyst with a good track record, then they get burned and blame him when the tide turns and they haven't used stop losses correctly. That's trading 101. Good technicians can give you a road map, but the trader is ultimately responsible for learning how to safely drive the car without crashing, or stop the car and bail if things get too bumpy.

you missed the whole point of what I was saying, it's not about wheather his analysis was good or bad, obv I know the risks. he just told everyone that he's holding LTC (I can find post) and made the good point why, then he dumped and told this only some days later. you see what I'm trying to say? sorry my english is very limited, I wish I could express myself in my native language.

 

[dannno]

Part of the problem I think is we got day traders here looking for advice from a medium term trader.

I took Pres' advice a few months ago to get into LTC, it look longer than most here expected but I was patient and it has paid off very well. I sold quite a bit and have subsequently bought lower. I took a little hit recently with LTC, lucked out and missed the bullet with my trading BTC thanks to honey badger.

 

[amonasro]

You got it wrong. No one is blaming Pres. for poor advice. That's the risk we took. What I am upset about is after encouraging several of us to buy for the moon, once Pres. figured out he was wrong he dumped all his coins days ago and never said a thing. In other words he saved his ass, and left us holding the bag (literally).

Sorry about that Dianne, I guess I misunderstood the situation. I can understand this, however Pres is also selling a paid service so I am inclined to see it from his point of view as well, where he doesn't want to give out all of its trading signals for free.

Still, one one should take trading advice here with appropriate grains of salt and risk management and assume that this thread can go silent at any time. If one is not an experienced trader one should consider running his free bot, load it with a small amount and watch it trade for a few months. You'd be surprised how much you learn and it's far less stressful than live trading.

Still, I can understand the frustration. Shakeouts are meant to cause pain.

 

[presence]

You got it wrong. No one is blaming Pres. for poor advice. That's the risk we took. What I am upset about is after encouraging several of us to buy for the moon, once Pres. figured out he was wrong he dumped all his coins days ago and never said a thing. In other words he saved his ass, and left us holding the bag (literally).

Dianne BTC and LTC long... super long = moon:

We're trading deflationary currency and every day more coins are lost to the abyss.

I damn well believe we'll see $100,000 / BTC in our lifetimes.

Everything else is RISKY short play to get more coins.




We all miss shorts from time to time.


I'm buying back in piecewise already supporting with a hidden wall on DRK at 3.08



Reviewing charts this morning I see no reason why LTC can't consolidate and push onwards to the 0335 ceiling.




crypto long, moar coinz short

 

[muh_roads]

I'll stick up for Pres too. He is here to provide market analysis and, based on that, what he thinks has a high probability of happening today, tomorrow and next month. Nobody knows what will really happen, and if they claim to, they are full of it.

The worst is when I see new traders blindly following an analyst with a good track record, then they get burned and blame him when the tide turns and they haven't used stop losses correctly. That's trading 101. Good technicians can give you a road map, but the trader is ultimately responsible for learning how to safely drive the car without crashing, or stop the car and bail if things get too bumpy.

Read his post again. I think you missed the point of why some people are feeling down about the situation. Dianne gets it. There was purposeful deceit to hold back info and treat his own RPF thread like the btc-e trollbox. It says it all right there.

It isn't the financial loss that bothers me. I made the trades, they are my fault. I didn't pay pres, that is my fault too. He isn't obligated to post anything. None of us are. Pres can do whatever he wants. I just didn't know he was so hard up for 0.08 when it mattered most after initially providing so much "buy" info beforehand. This makes it look like your classic P&D for the benefit of others and I can't blame people here for feeling a little used. Especially the new guys.

He wanted "his guys" to exit first. Pres is free to do what he wants. It just feels like a huge dick move since August 3rd was a week ago. Maybe the 4th would've been considerate? I dunno.

I may not have even taken the sell advice. I just like multiple data points and I thought there was more of a "brotherhood" here, as corny as that sounds. But if people aren't going to talk and instead choose to keep secrets, then I don't feel there is much need for me to be here as often either. I can no longer in good conscience recommend this thread to others anymore. It makes me feel terrible.

I'm glad pres was honest last night about where his allegiances belong. It made me realize where I should refocus my own enthusiasm for things as well.

I'm not going to stop posting, just go into extended lurk mode. After all the threads I've posted trying to bring news to RPF since late 2012 / early 2013 and the abuse that comes out of that from bitcoin haters, I'd appreciate it if people didn't think I am being a baby about this. I'm just feeling very...exhausted...is all I can think of.

I'm truly glad this event occurred. I view this as a "blessing" as I've got a couple other projects I've been thinking about starting for a while and it sounds refreshing to focus attention elsewhere. People know where the mainstream bitcoin news can be found by now so me posting threads I don't think is needed. I'll still post the occasional obscure info piece if I see it. I just really want to do something else now.

'Eh, I typed more than I meant to say. Good luck everyone.

 

[Dianne]

Sorry about that Dianne, I guess I misunderstood the situation. I can understand this, however Pres is also selling a paid service so I am inclined to see it from his point of view as well, where he doesn't want to give out all of its trading signals for free.

Still, one one should take trading advice here with appropriate grains of salt and risk management and assume that this thread can go silent at any time. If one is not an experienced trader one should consider running his free bot, load it with a small amount and watch it trade for a few months. You'd be surprised how much you learn and it's far less stressful than live trading.

Still, I can understand the frustration. Shakeouts are meant to cause pain.

If that's the case, Pres should not give free advice on this forum ... Like BUY, BUY ... LTC going to .03 within the next few days. He should link his "pay for service" website here and those who wish to follow him do so. But don't shout BUY in the forum, induce others to buy quickly. You can understand why some here believe he may be a troll now ... He induced us (not the first time), to buy in big; he made money, sold in time and left his RPF peeps in the crapper. Not very nice. Possibly he's just a kid... I don't know much about him. He may be 15 years old for all I know, and has not yet learned anything about integrity.

 

[Dianne]

Read his post again. I think you missed the point of why some people are feeling down about the situation. Dianne gets it. There was purposeful deceit to hold back info and treat his own RPF thread like the btc-e trollbox. It says it all right there.

It isn't the financial loss that bothers me. I made the trades, they are my fault. I didn't pay pres, that is my fault too. He isn't obligated to post anything. None of us are. Pres can do whatever he wants. I just didn't know he was so hard up for 0.08 when it mattered most after initially providing so much "buy" info beforehand. This makes it look like your classic P&D for the benefit of others and I can't blame people here for feeling a little used. Especially the new guys.

He wanted "his guys" to exit first. Pres is free to do what he wants. It just feels like a huge dick move since August 3rd was a week ago. Maybe the 4th would've been considerate? I dunno.

I may not have even taken the sell advice. I just like multiple data points and I thought there was more of a "brotherhood" here, as corny as that sounds. But if people aren't going to talk and instead choose to keep secrets, then I don't feel there is much need for me to be here as often either. I can no longer in good conscience recommend this thread to others anymore. It makes me feel terrible.

I'm glad pres was honest last night about where his allegiances belong. It made me realize where I should refocus my own enthusiasm for things as well.

I'm not going to stop posting, just go into extended lurk mode. After all the threads I've posted trying to bring news to RPF since late 2012 / early 2013 and the abuse that comes out of that from bitcoin haters, I'd appreciate it if people didn't think I am being a baby about this. I'm just feeling very...exhausted...is all I can think of.

I'm truly glad this event occurred. I view this as a "blessing" as I've got a couple other projects I've been thinking about starting for a while and it sounds refreshing to focus attention elsewhere. People know where the mainstream bitcoin news can be found by now so me posting threads I don't think is needed. I'll still post the occasional obscure info piece if I see it. I just really want to do something else now.

'Eh, I typed more than I meant to say. Good luck everyone.

I actually believe admins should take this entire thread down. If Litepresence is a "Pay to Play", then it should be disclosed and he should be a company paying for advertising rather than sucking fellow RPF peeps into pumping coins he is invested in.

It is a conflict of interest, a business proposition that should be advertised as such.

 

[dannno]

I actually believe admins should take this entire thread down. If Litepresence is a "Pay to Play", then it should be disclosed and he should be a company paying for advertising rather than sucking fellow RPF peeps into pumping coins he is invested in.

It is a conflict of interest, a business proposition that should be advertised as such.

I'd still like to see his posts.

 

[Dianne]

I'd still like to see his posts.

I don't have a problem with him posting, but his posts should say something like "For further information, visit www.litepresence. (whatever) . Then on his website he can disclose what the fees are.

Right now we think of him as family, within this group of Ron Paul supporters who have been together for eight years. I just believe people will continue to lose money, unless they understand Presence is a "Pay to Play" business. Buy in, buy in ... won't tell you when to sell unless you pay me. It's capitalism, for sure; but needs to be disclosed.

 

[dannno]

Well he does discuss that, most recently here: http://www.ronpaulforums.com/showth...yptocurrency&p=5938755&viewfull=1#post5938755

It sounds to me like extenuating circumstances of protecting clients, I don't think he was using the thread to make extra money and if it had waited another day before crashing we may have seen a post notification. It sounds like it all happened so fast.

 

[presence]

It just feels like a huge dick move since August 3rd was a week ago. Maybe the 4th would've been considerate? I dunno.

Again... you're missing the timeline:

August 3 at noon - Master bot sold 0.25 of my BTC (that's all it controls).

August 3, 4, and 5 - Rewiring attic at 140 degrees in August heat. Oblivious to the master signal. Checked my slave account account each night... "bot was still holding no worries".

August 5th - Pouring concrete for spring development. Hard hitting day after frying in an attic.

August 5th just before midnight - I check all accounts and all live bot instances. 6 accounts at 3 exchanges; 3 live botscript instances. I noticed HB Master sold.... something amuk. I had been pouring concrete all day... got in at dark. WTF?

August 6th wee hours of the morning. I sent out an email to my clients "Honeybadger sold". I was pretty sketchy about this as the master and my personal slave were not aligned.

August 6th 9AM - Recieved several WTF emails... "My bot didn't do anything" FUCK. I sent out panic email to clients, omg something is fucked. "Dump coins. Kill script."




August 6th 9AM until August 8 Noon - Marathon programming session. No emails, no phone calls. No contact with outside world. Negligible sleep. Lots of Espresso. WTF is wrong? Why my master bot saying Capitulation and all Slaves still saying Green Dragon? Get signal online ASAP. Confirm "Capitulation" was actually occurring. 40 paying clients expect and deserve service. 2000 lines of complex python code to unravel that I hadn't messed with at all in over a month.

August 8th Noon - 48+ hours no sleep. Solution! It was a platform engine update error that killed my signal... unrelated to my script. The only thing that actually fixed the problem was simply changing he broadcast channel. Contacted clients. Contacted tradewave admin. Got signal back online. Advised all users to restart on new channel.

August 8th Noon to 8:30 PM. Still no sleep. Ground support for backhoe operator moving 600lb precast concrete rings all day. Chains and pinch bars. Deep in a hole of cold water. Price precipitously fell $277 to $255.

August 8th 10 PM. Post at RPF.

August 8th 11 PM. Get royally chewed out because my loyalty should have been to an individual that tipped me (albeit generously) 18 months ago instead of to my contractual duty to current subscribers and my local freshwater spring development client.




Full disclosure:


I was 60% DRK 30% LTC and 10% BTC on the 5th. Balls deep.
Quite confident in "moon on"; under the impression my signal agreed.

I was able to sell half my drk, all my ltc, and all my btc. when BTC was still $279 and dark was $3.5

I panic hodl'd the rest of the drk because of the low liquidity.

If you're panic selling drk $3.08, be advised that's me buying my other half back @ 12% discount; penny pumping cryptsy and hidden at finex.

Divesting or acquiring a position in DRK, like NVC, is a multi day operation.


Do as you will.