Bitshares price discussion

[puppies]

I am also waiting on more funds.  I am hoping that the price stays low for a few more days.

[Ander]

Advice 1: Dont try to learn elliot wave, its too complicated.  Just looking at support/resistance, moving averages, macd, etc is way better for most poeple.

Advice 2: If youre going to bother with elliot wave, you have to learn all the rules.  For example, wave 3 cannot be the shortest wave, which mean the chart above is an invalid count.



Anyways...we are in the buy zone now.  I shouldve had more patience, but I wanted back in.   But I will have more money coming in a week or so to buy more if it stays down.  We could bottom any time now, though it could still go a bit lower.

[Tuck Fheman]

[mf-tzo]

Thanks for the responses guys,

With all due respect and please forgive my ignorance of the topic, from what i have seen the EW rules suggest that wave 3 cannot be the shortest of all waves and that wave 4 does not breach the price territory of wave 1.  maybe speedy is right maybe its time to throw Elliot out with window again.. (just heard it mentioned so many times from so many places thought their might be some benefit in learning what others are looking at)

@tonyk  - interested to know what the other 90% of your strategies are made up of as from what i have seen you buy when Tony buys so seems like what ever you got going its working for you.

Or does anyone else want to share any strategies they have that they believe are reasonably good at showing good buy / sell points. (i don't want to sell my Bitshares but i wouldn't mind skipping some of the down side and ending up with free shares as suggested by Ander) seems like a risky game though... when it goes 10x+ and your on the wrong side of the trade would feel pretty bad!

I will tell you what my strategy is even if most may say that this is completely stupid since I may end up holding the bag here.. However I do not intend to change my strategy no matter what..BTS will either succeed or not. Anything else is just playing around..

Here it goes. Whenever BTS is below 0.00007 BTC I always buy whenever I can whatever I can afford. At above 0.00007 I would sell something like 20%, at above 0.00015 btc another 20% at above 0.00025 btc another 20% and the remaining 40% only when and if we reach a couple of billions market cap in $ terms.

Before you judge the stupidity of the strategy consider that BTS is maybe something like when BTC was @ $3 going to $30 then dropping back before it seriously skyrocketed to $1,000. I missed that train and I do not intend to miss this one too. I think now we have experienced the big fall in price and from here only the sky is the limit.

[kenCode]

I love how they call it "intervention" too and nobody bats an eye

[Tuck Fheman]

Tuesday morning on Wall Street is going to be messy I think.

Wrong again

http://www.zerohedge.com/news/2015-09-08/futures-soar-after-dramatic-chinese-last-hour-intervention-following-latest-bout-ter

[phillyguy]

You cant apply over-fancy TA like Elliot waves to such a low volume thing as BTS. What happened was buzzwords like "Pitchfork" and "Timeline" were used, and short term speculators got excited and made 50%. That is all.

Looking at CMC past 2 days there seemed to be several coins that rose and fell in a similar fashion. BTS had the biggest spike because of the forum news, but if I had to guess there were some manipulators out there who drove everything up and sold it back down.

It feels like that has been happening once every 3-4 weeks for multiple months now.

[kenCode]

Tuesday morning on Wall Street is going to be messy I think.

Wrong again

[GChicken]

Thanks for the responses guys,

With all due respect and please forgive my ignorance of the topic, from what i have seen the EW rules suggest that wave 3 cannot be the shortest of all waves and that wave 4 does not breach the price territory of wave 1.  maybe speedy is right maybe its time to throw Elliot out with window again.. (just heard it mentioned so many times from so many places thought their might be some benefit in learning what others are looking at)

@tonyk  - interested to know what the other 90% of your strategies are made up of as from what i have seen you buy when Tony buys so seems like what ever you got going its working for you.

Or does anyone else want to share any strategies they have that they believe are reasonably good at showing good buy / sell points. (i don't want to sell my Bitshares but i wouldn't mind skipping some of the down side and ending up with free shares as suggested by Ander) seems like a risky game though... when it goes 10x+ and your on the wrong side of the trade would feel pretty bad!

[tonyk]

is the next wave up potentially starting soon?

Could anyone who uses Elliot Wave theory post a couple of pics showing how they depict the wave in the current market? possibly a few time scales showing different wave magnitudes?

i know it may very from person to person but when ever i try to learn; it looks fine on the chart examples in the tutorials, then i flick over to the real market and my progress goes out the window. just looking for an example in real time that's close to my heart..
also if anyone is using this can you suggest some complimentary indicators that you look at as well?

if this can be done it would be greatly appreciated
Thanks
GC

First off, I use TA to count for  no more than 10% of my trading. Read, almost never trade based on any TA. So probably not the best teacher here but anyway...

Last night when I saw this post

 

We have completed wave 1 and also A of 2, we are now in B of 2, it will take us up a bit, but then C of 2 will take us down to somewhere in the 1600-1800 range.

I envisioned something like the following graph (Eliot Wave).



The red line is about the time I made it ... from that point on you can see how it differs from the actual reality....

[speedy]

You cant apply over-fancy TA like Elliot waves to such a low volume thing as BTS. What happened was buzzwords like "Pitchfork" and "Timeline" were used, and short term speculators got excited and made 50%. That is all.

Rallies in the market are driven by forum hype from the lead developers, just like the first one was a year ago, when it was announced that BTSX would be bought back with ags funds. How is an elliot wave going to predict that?

[GChicken]

is the next wave up potentially starting soon?

Could anyone who uses Elliot Wave theory post a couple of pics showing how they depict the wave in the current market? possibly a few time scales showing different wave magnitudes?

i know it may very from person to person but when ever i try to learn; it looks fine on the chart examples in the tutorials, then i flick over to the real market and my progress goes out the window. just looking for an example in real time that's close to my heart..
also if anyone is using this can you suggest some complimentary indicators that you look at as well?

if this can be done it would be greatly appreciated
Thanks
GC

[Tuck Fheman]

https://youtu.be/DGC6iqWeFDk

[Ander]

The wall was removed and someone dumped, heh. 
I bet it'll fulfill my original target of 1600-1800, just to spite me.

Thats fine, I gained BTS and will not miss whatever future rise occurs.

[Ander]

I do worry that maybe a bunch of people all FOMO back into it now, then the big wall is removed, then there is no buy support and it tanks.   I dont know.  The upside is bigger than the downside though.  3000 is a big gain, 1600 isnt too bad of a downside.