Bitcoin technical analysis

Quoting venzen

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{quote} hi Ozes, You've got to sell those Bitcoins on BTC-e: Go to "Trade" and sell 0.99 (BTC-e charge a commission so use the "Calculate" button to see their fee). Once you've sold them then click the "Finances" link (top righthand corner) and then go to MT4 screen and fund your MT4 account. This USD now becomes "Margin" which gets consumed with each position you open. When you're on the MT4 platform you'll use the USD to buy and sell Bitcoins. Minimum trade size is 0.01BTC which (at say $895/BTC) will consume $8.95 of margin. With a 0.01BTC position...

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Quoting KiwiOz

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{quote} There appears to be only two brokers with MT4 platforms for Bitcoin so far & BOTH MT4 platforms are not performing correctly with Bitcoin. ??????? Not sure what the problem is but both are not Bitcoin friendly. AVA trader is OK but their AVA MT4 is playing up .??

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Quoting KiwiOz

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{quote} There appears to be only two brokers with MT4 platforms for Bitcoin so far & BOTH MT4 platforms are not performing correctly with Bitcoin. ??????? Not sure what the problem is but both are not Bitcoin friendly. AVA trader is OK but their AVA MT4 is playing up .??

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Quoting KiwiOz

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{quote} This is the Btc-e MT4 platform. It is a bloody joke. Take a trade & 2 seconds later the trade disappears & shows up in history as a loss.??? I have an EA attached to this chart. It shows the current spread. The spread changes every few seconds & ranges from 0.4 to over 400.?? I just use the charts to draw my lines etc. Still looking for this retracement to go down to around 870. {image}

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Quoting Ozes

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{quote} Man that video brings back memories as a kid thanks for attaching that! Do we have current news about the investments in silicon valley and wallstreet acceptance? I read it somewhere but not sure where...

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Quoting chonchy

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.......Any body have this same spike on gold? {image}

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Quoting Ozes

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{quote} Also what is the benefit of trading with pips rather on the main page of BTC-E?

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Quoting XTrade

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Venzzz, totally sorry off topic but I thought this matter needed addressing. No spike into 1220 ever happened in real trading - SPOT at that - Futures - just NO - Here is today's THIRD PARTY LINE CHART FOR SPOT GOLD BID. Chonchy! Luv u dude but that broker is scamming... that price you posted for spot gold NEVER happened. Sorry V- THX, XT- {quote} {image}

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Quoting venzen

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{quote} good question. OK say we buy 1 BTC via an exchange (say BTC-e). We hold it and price goes up $200. We sell it and pocket $198 profit (minus fees and commissions). Price goes down $100 and we buy again (hoping for another rise) but it carries on going down another $50. So now we have to wait until price regains $50 to the upside and only then do we go into profit again on further rises. Had we done this via MT4 we would have been able to short sell the market for that $50 drop and make $50 profit with 1BTC short order. Additionally we would...

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Quoting venzen

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{quote} hey, XTrade, Thanks for posting and Gold (or any instrument for that matter) is not off-topic here if we're learning/understanding something. So, I also saw that spike on a thirdparty chart at tradingview.com ... perhaps they use the same FXCM feed? I'm going to check Oanda's chart to confirm. {image}

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Quoting venzen

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{quote} hey, XTrade, Thanks for posting and Gold (or any instrument for that matter) is not off-topic here if we're learning/understanding something. So, I also saw that spike on a thirdparty chart at tradingview.com ... perhaps they use the same FXCM feed? I'm going to check Oanda's chart to confirm. {image}

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Quoting XTrade

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. My Man, Venzen, I think a VERY IMPORTANT FACT that this budding trader should know and realize, is besides actually "borrowing stock that u don't own so "NAKED SHORT" or in commodities same thing, like JPM "HUGE NAKED SHORT ON SILVER" yet, if the true market EVER took enough delivery they would be royally fked up the @$$...

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Quote

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This is only partially reason why Gold will surpass 2k with ease. It's all a fraud and has been for some time - FIAT currencies, If you really look at gold on a ten year it is right at correction point ready to bounce. Sure, it could get oversold. Yet it will prevail in the LT. THIS IS PRECISELY the reason I am sooo interested in BITCOIN. No Government tampering, No printing, u explained the VERY ODD aspect of "digital Mining" yet, %^&* IT if I can spend it- for goods or services it's JUST AS GOOD AS A "GREENBACK" actually I prefer GBPs/ - To me. So. In that sense why not buy bitcoins a few hundred lower then sell at 1k and save the rest as a position!??!?!?!?! No argument here. BTW - Loooking at AUD/U NZD/U Longs now already long cable/ not much use for E/U unless I get in at bottom, - prefer higher volatility. Just IMO ------- Great thread mate! XT-

Quoting venzen

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{quote} Critical point, and good you highlight it for Ozes. The thing is even a long trade on anything and on all platforms except those which allow direct order injection into Comex or CME - every fricken trade is a CFD and not "real". Derivatives the whole lot. So a systemic glitch somewhere in the tangled mess and all the derivatives come undone or get "circuit breakered"... "Become a trader" they said "Go live on the islands, buying and selling for a living". Yeah right, it's more like learning to how to juggle in pit full of snakes! However,...

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Quoting XTrade

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Venzen, Chonchy and others, as my semi preffered FX broker I had NO CHOICE BUT TO EXPOSE THE TRUTH HERE from your useful posts. Thanks Chonchy. I hope you don't mind me using your chart. and then a REAL chart. SUCH F&^*(ING BS - this is EXACTLY why I REFUSE TO USE MT4 ANY MORE posted a few minutes ago to FXCM - I am really let down by this btw.............. http://www.forexfactory.com/showthre...54#post7193854

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Quoting Ozes

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{quote} Thanks for pointing that out! But unfortuately i dont understand this can you break that advice down to easy language for me?

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Quoting XTrade

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. My Man, Venzen, I think a VERY IMPORTANT FACT that this budding trader should know and realize, is besides actually "borrowing stock that u don't own so "NAKED SHORT" or in commodities same thing, like JPM "HUGE NAKED SHORT ON SILVER" yet, if the true market EVER took enough delivery they would be royally f%ucked up the @$$...{quote}

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Quoting venzen

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{quote} The point that XTrade made is that when you buy an actual Bitcoin (via BTC-e) it is "real" and in your possession and will be recorded in the public ledger (the blockchain) as having gone to your wallet. However, when you trade via MT4 you are not buying and selling actual Bitcoins but Contracts for Difference (CFDs) which are derivatives of the chart price. Another example would be trading the EurUsd or Gold - when you open a long position you are not actually buying physical (or even electronic) Euros - it is just a contract for payment...

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