The Litepresence Report on Cryptocurrency

[muh_roads]

I'm going to stop beating up on pres since people are free to do what they want. Although mentioning this RPF thread on the trollbox is a good point, Dianne.

I made the trades so I have to own up to the mistakes. The alternative is Government SEC crap and I think everyone in here has used the words pump or dump at some point, heh. I'd prefer to set the example that we can govern ourselves so I have to stick to that philosophy. No matter how much a person wants to blame another.

There were a lot of people saying "up" as well. It's a game of roulette.

I just had to jump on pres with his "I own up to nothing" schtick by bringing back some old quotes. Which is really the crux of the frustration.

Hence my silence the past few days.
Its been with a bitten lip.

dat bitten lip... It just would've been nice to know you were serious about needing the 0.25 during the lip biting.

My kingdom for a time machine continues...

 

[Warrior_of_Freedom]

I haven't been keeping up. You referring to Genesis Mining?

I got no idea. Someone said it was going to be illegal for them to offer their BTC services in New York or something

 

[Dianne]

I'm going to stop beating up on pres since people are free to do what they want. Although mentioning this RPF thread on the trollbox is a good point, Dianne.

I made the trades so I have to own up to the mistakes. The alternative is Government SEC crap and I think everyone in here has used the words pump or dump at some point, heh. I'd prefer to set the example that we can govern ourselves so I have to stick to that philosophy. No matter how much a person wants to blame another.

There were a lot of people saying "up" as well. It's a game of roulette.

I just had to jump on pres with his "I own up to nothing" schtick by bringing back some old quotes. Which is really the crux of the frustration.



dat bitten lip... It just would've been nice to know you were serious about needing the 0.25 during the lip biting.

My kingdom for a time machine continues...

Everything presence, aka litepresence says, is irrelevant to me going further. I'm happy you have made amends, but I do hold deep resentment for those who have been seduced into Ronpaulforums, only to be ripped off.

I agree, I believed him; I lost multiple times. It was my fault. I never expected corruption from a fellow RPF supporter. As I look back, until recently, this thread was the only one he posted in. This is his business, his way of supporting himself. Which is all well and good, as long as it is disclosed.

That is why I was asking RPF to make him pay for advertising space, rather than sucking in those who innocently, believe RPF is a santuary .... a place to escape, free of corruption, lies, and manipulation.

 

[muh_roads]

...and they haven't used stop losses correctly.

Stop losses don't save you either. Good traders get stopped out plenty of times.

 

[muh_roads]

Everything presence, aka litepresence says, is irrelevant to me going further. I'm happy you have made amends, but I do hold deep resentment for those who have been seduced into Ronpaulforums, only to be ripped off.

I agree, I believed him; I lost multiple times. It was my fault. I never expected corruption from a fellow RPF supporter. As I look back, until recently, this thread was the only one he posted in. This is his business, his way of supporting himself. Which is all well and good, as long as it is disclosed.

That is why I was asking RPF to make him pay for advertising space, rather than sucking in those who innocently, believe RPF is a santuary .... a place to escape, free of corruption, lies, and manipulation.

It is a sad state of affairs. I wouldn't say we've made amends. I just have to move on otherwise it is too frustrating to dwell on. Others don't share the same sentiments so I'm just going to distance myself from it all.

I got no idea. Someone said it was going to be illegal for them to offer their BTC services in New York or something

Yeah I haven't heard about any singular company dumping as a result of the licensing. Just people moving out of the area.

 

[amonasro]

Stop losses don't save you either. Good traders get stopped out plenty of times.

No, but there's an inherent risk of loss that one must accept while trading. You quickly learn that you are playing against your worst emotional self where your own shortcomings come out to haunt you at the worst possible moments.

One might play the blame game for awhile but at the end of the day, the responsibility and fault is one's own. Maybe you got greedy. Maybe you didn't study enough. Maybe you relied on one person too much. Maybe your good trades were luck. Maybe you're just in over your head. It's tough medicine but a required prescription in a competetive market that takes away just as quickly as it gives. Both fears are ever present and always palpable: Fear of missing out and fear of loss. One must tame these emotions in order to make the best, most logical decisions when entering and exiting positions. This includes the decision of who to listen to (or not) for advice. Pres is a talented market reader and botsmith but he's not always right and like anyone who has weathered a ruthless market, he is self-interested and not here to hold hands. Perhaps he could have made this clearer, but his standoff-ish approach with new traders was clear enough to me.

I lost over $10,000 on a bad trade a few months ago. It was my first major loss and I was mad as hell at just about everybody. I battled with all of the fears described above before simply realizing where my fault was, accepting the consequences and using it to identify weakness in my trading plan.

One poignant thing Richard Wyckoff said (whose writings I've been reading a lot of lately) is, "The market is always with us." ​Meaning there is no reason to rush into trading--there will always be future opportunities should one wish to be prepared for them.

 

[presence]

What ever he paid for his "supporting membership status"

It was a personal gift from Bryan actually.

 

[muh_roads]

Meaning there is no reason to rush into trading--there will always be future opportunities should one wish to be prepared for them.

I disagree with this 110% as it relates to bitcoin. It's not a silly little cut & paste stock. Collecting as much of the 21m supply is a race against the clock. And that is why mistakes are so painful because these levels won't last forever.

If I felt we would just bounce between 200-300 for eternity then trading would be a lot easier. You never know when some crazy news piece comes out that sends it to 450-500.

 

[PaulConventionWV]

Stop losses don't save you either. Good traders get stopped out plenty of times.

Stop losses save you if you know how to use them. That's why I bite my lip every time I hear Dianne is making a trade.

 

[amonasro]

I disagree with this 110% as it relates to bitcoin. It's not a silly little cut & paste stock. Collecting as much of the 21m supply is a race against the clock. And that is why mistakes are so painful because these levels won't last forever.

If I felt we would just bounce between 200-300 for eternity then trading would be a lot easier. You never know when some crazy news piece comes out that sends it to 450-500.

Oh I agree, I'd like to have as many as possible bought as cheaply as possible. But if you're trading to get there you have to be careful about the psychological factors that can get you into trouble, and that means taking a break sometimes.

I'm looking at the 200 day MA as support. Will it hold?

 

[Dianne]

Stop losses save you if you know how to use them. That's why I bite my lip every time I hear Dianne is making a trade.

LOL, you're not the only one.

 

[Crashland]

If you want to save yourself the psychological trauma, just buy and HODL. Unless you are the best of the best at trading (which you probably aren't even if you have had a good streak), you'll end up getting burnt in the long run if you keep moving things around.

 

[Warrior_of_Freedom]

BTC went down 3 more dollars!

 

[presence]

Nasty price action this evening.

Bitcoin XT fork hit BBC news.

166 BTC at bitfinex after massive dumping

LTCBTC held true

PPCBTC and NMCBTC both tanked hard

DRKBTC went moon while DRKUSD still took losses.

 

[amonasro]

Well, my account took a hit. The good news is that this should result in some nice volatility going forward.

 

[muh_roads]

whaleclub ppl are saying alphapoint software on bitfinex glitched again and cleaned house on margin calls.

 

[presence]

Honeybadger Freeware sold capitulation 288 and is now holding BTC in despair at 269 since ma2 crossed under ma90.

Honeybadger Pro sold capitulation 284.9 and is now still in USD.
Mode is 2 "Capitulation" ; the last dragon was green dragon; its not a "typical" red dragon (yet)... but resistance is below ma150 in a state of capitulation... therefore begin 5 day panic hodl USD and make trade decisions as if it really is a red dragon; set mode 3 "Red Dragon".

 

[presence]

whaleclub ppl are saying alphapoint software on bitfinex glitched again and cleaned house on margin calls.

oh happy

I could see that. I watched the whole thing on 1m charts. It was absurd and it looked like the orderbooks weren't following the charts at all.

Most of the other exchanges held in the 220's through the whole finex event.

 

[muh_roads]

Well, my account took a hit. The good news is that this should result in some nice volatility going forward.

We may be down but at least we aren't cleaned out on coins like so many others. People that play leverage really like that ball torture.

 

[muh_roads]

oh happy

I could see that. I watched the whole thing on 1m charts. It was absurd and it looked like the orderbooks weren't following the charts at all.

Most of the other exchanges held in the 220's through the whole finex event.

That looks like a double-bottom on the 1w