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Bitcoin technical analysis

  • #1,361
  • Jan 13, 2014 12:56am Jan 13, 2014 12:56am
Quoting amol123
Hi Venzen, i saw the e-bitcoin chart can you plz tell me why the difference of prizes of BTCUSD in different Markets as Mt. Gox shows 914 while others....810 , camp bx 820 Thanks
yes, Bitcoin is not controlled by anyone and floats in the free market - it's price differs from exchange to exchange. See this post i posted earlier which discusses the same thing: http://www.forexfactory.com/showthre...97#post7207697
cryptocurrency everytime
  • #1,362
  • Jan 13, 2014 12:59am Jan 13, 2014 12:59am
Quoting chonchy
.......Hello traders, it should bounce here......if not we are going down then a bit......

hi chonchy!
you got it bouncing on an MA cross-over? I'm asking because I have diverging MACD and RSI at M15 and H1 but H4 says down a bit more (780 or 790 maybe)
cryptocurrency everytime
  • #1,363
  • Jan 13, 2014 1:07am Jan 13, 2014 1:07am
Quoting venzen
{quote} hi chonchy! you got it bouncing on an MA cross-over? I'm asking because I have diverging MACD and RSI at M15 and H1 but H4 says down a bit more (780 or 790 maybe)

....Yes correct dow3n a bit to the magenta trend line of the triangle is where the bounce precisely is.......

......As you can see I'm a bit long......

Attached Image (click to enlarge)
Click to Enlarge Name: btcusdh4.png Size: 34 KB
The Chonchy
  • #1,364
  • Jan 13, 2014 1:08am Jan 13, 2014 1:08am
.......Venzen if you don't want this here please remove it, but is help to a good friend of mine......good read too.......

http://www.amazon.co.uk/s/ref=ntt_at...=relevancerank
The Chonchy
  • #1,365
  • Jan 13, 2014 1:11am Jan 13, 2014 1:11am
Quoting venzen
{quote} hi amol123, There are many exchanges, but only one offers a long/short selling option via MT4, namely BTC-e http://btc-e.com Some forex brokers also offer BTC trading but they add their own commissions and fees on top of the exchange fees; and close trade over the weekend when the BTC market is quite active and tradable for profit. So, yes, many of us here use BTC-e. For charting I would suggest tradingview.com or bitcoinwisdom.com

Besides the fact, that BTC-e seems to be the only one offering short and long trading:

Questions regarding BTC-e:

a) who are they?
b) where are they located?
c) Address and telephone number

d) how are they regulated or controlled?
e) do they have any banking license?

f)0.2-0.5% transaction fee - In EURUSD Forex terms that translates to roughly 25-50pips (what would you say, when your Forex broker would charge 50 pips commission?)

g) what would you say, when your Forex Broker had no information on its homepage regarding the above cited questions?
  • #1,366
  • Jan 13, 2014 1:14am Jan 13, 2014 1:14am
Quoting chonchy
.......Venzen if you don't want this here please remove it, but is help to a good friend of mine......good read too....... http://www.amazon.co.uk/s/ref=ntt_at...=relevancerank

claro, no problemo - maybe write something about it so readers can know more about the link to the book?
cryptocurrency everytime
  • #1,367
  • Jan 13, 2014 1:24am Jan 13, 2014 1:24am
Quoting infinitus
{quote} Besides the fact, that BTC-e seems to be the only one offering short and long trading: Questions regarding BTC-e: a) who are they? b) where are they located? c) Address and telephone number d) how are they regulated or controlled? e) do they have any banking license? f)0.2-0.5% transaction fee - In EURUSD Forex terms that translates to roughly 25-50pips (what would you say, when your Forex broker would charge 50 pips commission?) g) what would you say, when your Forex Broker had no information on its homepage regarding the above cited questions?...

Good points all - they're based in Russia, they don't provide contact or business address details... it's all fly-by-night.

As far as I know none of the exchanges are regulated. Not that regulation means much - if JPMorgan shows you a loss on your investments after one year their defense is that the small print where you signed says "Stocks and Derivatives carry significant risk of loss...". Nevermind that, the fricken banks who charge us to deposit and withdraw... it's all a dog-eat-dog hustle as far as I can tell, but once your holdings are in Bitcoin they move around easily.

I hear you, there is always the risk of foul-play and fraud by the exchanges.
cryptocurrency everytime
  • #1,368
  • Jan 13, 2014 1:41am Jan 13, 2014 1:41am
Quoting venzen
{quote} claro, no problemo - maybe write something about it so readers can know more about the link to the book?
......If you click on the book it will let you read a sample of the book or Sunday the first day of the book, is a good read for us that have being there at least one day of our lives.......he is a very good trader I may add, so don't let him fool you that he is not making money in forex, he is a very good conservative trader.......
The Chonchy
  • #1,369
  • Jan 13, 2014 1:45am Jan 13, 2014 1:45am
Quoting venzen
{quote} Good points all - they're based in Russia, they don't provide contact or business address details... it's all fly-by-night. As far as I know none of the exchanges are regulated. Not that regulation means much - if JPMorgan shows you a loss on your investments after one year their defense is that the small print where you signed says "Stocks and Derivatives carry significant risk of loss...". Nevermind that, the fricken banks who charge us to deposit and withdraw... it's all a dog-eat-dog hustle as far as I can tell, but once...
....Not only that, they receive a loan from the feds at very low interest rate and then they use it to buy physical gold after they went naked short on paper money, the night before, and also thanks to the traitor that dissolved the glass eagle act, they can use your savings to go short on gold and silver on paper the night before also, while you are sleeping and your local bank is closed, lol, what a rip off, then they lose it and tell you upps I'm sorry, rinse and repeat, lol, while buying all the gold and silver at rock bottom prices......and we allow it to continue like nothing is happening, lol......security regulations, what a joke from infinitus, a very good one, I lost all my money being long euro/usd because fxsolutions decided to go away from the US, true story......and the regulators laugh at my face and protect the rich......
The Chonchy
  • #1,370
  • Jan 13, 2014 1:46am Jan 13, 2014 1:46am
Quoting venzen
{quote} Good points all - they're based in Russia, they don't provide contact or business address details... it's all fly-by-night. As far as I know none of the exchanges are regulated. Not that regulation means much - if JPMorgan shows you a loss on your investments after one year their defense is that the small print where you signed says "Stocks and Derivatives carry significant risk of loss...". Nevermind that, the fricken banks who charge us to deposit and withdraw... it's all a dog-eat-dog hustle as far as I can tell, but once your holdings...

No, they are not based in Russia. They are located somewhere in Bulgaria.

I do not say, they have bad intention, because I do not know them. But how can one give money to a company, when one does not know their location etc.?


Regarding safety of funds: I trade with segregated account at Dukascopy. So my funds are very secure........
  • #1,371
  • Jan 13, 2014 2:02am Jan 13, 2014 2:02am
Quoting infinitus
{quote} No, they are not based in Russia. They are located somewhere in Bulgaria. I do not say, they have bad intention, because I do not know them. But how can one give money to a company, when one does not know their location etc.? Regarding safety of funds: I trade with segregated account at Dukascopy. So my funds are very secure........
I though fxsolutions was a secure company and in Obama's books was to repatriate all money into the US and one sunday I try to log in to my acc and I couldn't so I call them and they told me that they have being trying to contact me true my old cell that I gave them in 2005 when I started to trade with them, and so my acc was being send to the fxsolutions US branch but because they had less leverage as Obama ordered, my margin call was being executed so I lost half of the acc due to the fact that I was over trading on a long position in e/u with no stop loss, or using the whole acc as a stop loss 500 to 1, a very risky bad trade, and a very irresponsible way to trade, but coincidently that week e/u went my way and I could have break even and get out if not for my good friend Obama, go complaint and see where it gets you.....lol
The Chonchy
  • #1,372
  • Jan 13, 2014 2:09am Jan 13, 2014 2:09am
Quoting chonchy
{quote} I though fxsolutions was a secure company and in Obama's books was to repatriate all money into the US and one sunday I try to log in to my acc and I couldn't so I call them and they told me that they have being trying to contact me true my old cell that I gave them in 2005 when I started to trade with them, and so my acc was being send to the fxsolutions US branch but because they had less leverage as Obama ordered, my margin call was being executed so I lost half of the acc due to the fact that I was over trading on a long position in...
.......The incident told me that no one is safe here in this game, do you know how many exchanges went out of business in 2008, 2009, the best way to go against this is having four acc's with no money in the same exchange or broker but how do you make money like that, is hard, but is the only way not to lose it all.....my two cents......
The Chonchy
  • #1,373
  • Jan 13, 2014 2:13am Jan 13, 2014 2:13am
.....If it don't bounce here at the magenta line confluence with the red ema 100, I'm out and going to sleep, I can't lose more than the price of a coffee and a sandwich that easy this days, is demoralizing for me......

Attached Image (click to enlarge)
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The Chonchy
  • #1,374
  • Jan 13, 2014 2:21am Jan 13, 2014 2:21am
Quoting infinitus
{quote} No, they are not based in Russia. They are located somewhere in Bulgaria. I do not say, they have bad intention, because I do not know them. But how can one give money to a company, when one does not know their location etc.? Regarding safety of funds: I trade with segregated account at Dukascopy. So my funds are very secure........

if your funds are in Swiss francs then they are secure, infinitus, because is the only currency back by gold 40% but no other is secure to devaluations and hyper inflation and when hyper inflation hit Germany and argentina in the past people had a very hard time gething ready of their currency, mean while now that all seems to be doing good, real state going up in US and jobs at the government are rising on the welfare and food stamps centers, is good to buy Swiss francs physical, but all the rest are in risk......
The Chonchy
  • #1,375
  • Jan 13, 2014 2:24am Jan 13, 2014 2:24am
Quoting venzen
{quote} Good points all - they're based in Russia, they don't provide contact or business address details... it's all fly-by-night. As far as I know none of the exchanges are regulated. Not that regulation means much - if JPMorgan shows you a loss on your investments after one year their defense is that the small print where you signed says "Stocks and Derivatives carry significant risk of loss...". Nevermind that, the fricken banks who charge us to deposit and withdraw... it's all a dog-eat-dog hustle as far as I can tell, but once your holdings...

venzen what is your leverage in btc-e, I can only buy 4 cents with almost 45 dollars in my acc, why can I risk more, I want to buy here........yeah I'm not conservative at all, lol.....
The Chonchy
  • #1,376
  • Edited 2:58am Jan 13, 2014 2:41am | Edited 2:58am
Quoting chonchy
{quote} .......The incident told me that no one is safe here in this game, do you know how many exchanges went out of business in 2008, 2009, the best way to go against this is having four acc's with no money in the same exchange or broker but how do you make money like that, is hard, but is the only way not to lose all.....my two cents......

some years ago i made a list of ways to make money. I am not afraid of hard work but don't like working for menial wages unless I have to. I figured: as long as what I do to make money does not exploit anyone or break the law, then I will apply myself to it. So from my list of options I ended up with trading and here I am. It is a thankless job and anti-social. But it's better than bowing my head to some ass-monkey middle manager somewhere or wasting my life shovelling dirt from one hole to another.

So the task as i see it is to inform myself of the market, the forces acting in the market and to identify opportunities. Once an opportunity's risks/reward ratio has been assessed (I use a spreadsheet to help me understand various parameters and outcomes) then I climb in and do the thing I set out to do: 50% margin position size at maximum leverage (free money from the broker) and a hedging strategy until price goes my way. My objective is generally account doubling every so many pips (Gold -> 3000pips; BTC -> 200pips) and you can easily run the numbers to see how this strategy generates $1mil in a series of less than 20 trades.

Respect to those traders who do this as a lifelong career and take 11pips here and 25pips there at 2% or 5% capital risk on a daily basis. I'm just not like that and would rather throw an account in the sea by gambling big than eek out a living from these toxic markets trading incomprehensible instruments via those insincere parasites who call themselves brokers. There are much bigger and important things for us to to do than to trade the markets. For me it's a wealth generation phase I'd gladly leave behind once I achieve my goal.

BTCUSD via BTC-e is the means available to me and should I encounter any problem at all - well I have some good Bulgarian friends who might assist - it's called family regulation - the most effective kind, because a politician and a banker and a lawyer have never been anything but trouble for me and everyone I know.
cryptocurrency everytime
  • #1,377
  • Jan 13, 2014 2:44am Jan 13, 2014 2:44am
Quoting chonchy
{quote} venzen what is your leverage in btc-e, I can only buy 4 cents with almost 45 dollars in my acc, why can I risk more, I want to buy here........yeah I'm not conservative at all, lol.....
Hey chonchy. Why did you not hedge those trades,.??
Money Makes Money
  • #1,378
  • Jan 13, 2014 2:47am Jan 13, 2014 2:47am
Quoting chonchy
{quote} venzen what is your leverage in btc-e, I can only buy 4 cents with almost 45 dollars in my acc, why can I risk more, I want to buy here........yeah I'm not conservative at all, lol.....

chonchy, i increased my leverage to the max, which is 1:3 which basically multiplies your margin by 3.

So a position still costs the same but you have more margin available and so can open more positions.

Inserted Code
margin= (Price*Lot)/Leverage


so buy 0.01 BTC at $800 with leverage 1:1 => $8 worth of margin for the position

but with 1:3 leverage the same position works out to (800*0.01)/3 = $2.67

Aah, much better!
cryptocurrency everytime
  • #1,379
  • Jan 13, 2014 3:29am Jan 13, 2014 3:29am
Quoting venzen
{quote} some years ago i made a list of ways to make money. I am not afraid of hard work but don't like working for menial wages unless I have to. I figured: as long as what I do to make money does not exploit anyone or break the law, then I will apply myself to it. So from my list of options I ended up with trading and here I am. It is a thankless job and anti-social. But it's better than bowing my head to some ass-monkey middle manager somewhere or wasting my life shovelling dirt from one hole to another. So the task as i see it is to inform myself...
.....Roger that venzen loud and clear, thanks for the tip.....
The Chonchy
  • #1,380
  • Jan 13, 2014 3:32am Jan 13, 2014 3:32am
Quoting KiwiOz
{quote} Hey chonchy. Why did you not hedge those trades,.??

Well I was almost certain that I could get out sooner with a profit but I had a disconnection last night in the internet and went to sleep with two lots in red, then wake up in the afternoon with the same lots in red, so decided to add for being so late in the game, now stuck here, but I think it bounce here, let me see if I get out at break even or take a loss if it goes across the red ema 100/magenta line
The Chonchy
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