Keith Houchen Posted June 22, 2019 Share Posted June 22, 2019 Were you following their advice when you lost 3K? Quote Link to comment Share on other sites More sharing options...
Loki Posted June 22, 2019 Share Posted June 22, 2019 I hear that if you kick the side of the machine as the tumblers are spinning, it's more likely to pay out. I'll link a technical analysis of it I found on YouTube later. Quote Link to comment Share on other sites More sharing options...
Moderators PowerButchi Posted June 22, 2019 Moderators Share Posted June 22, 2019 (edited) Don't be fucking stupid. If you hear the bitcoin go down the back, that's when it's going to pay out. Edited June 22, 2019 by PowerButchi Quote Link to comment Share on other sites More sharing options...
Undefeated Steak Posted June 22, 2019 Share Posted June 22, 2019 (edited) I remember in the middle of a binge I once cut the bottom of a sofa open to get the money that had fallen into it. There was also a pair of nail scissors, a lighter that didn't work and one of MPDTT's lost Bitcoins. Edited June 22, 2019 by Undefeated Steak Quote Link to comment Share on other sites More sharing options...
Kamaras-Tash Posted June 22, 2019 Share Posted June 22, 2019 Might just be me but I never believe a fucking thing this MPDTT fella says, spent this much on Bitcoin, in America watching AEW, in Singapore Quote Link to comment Share on other sites More sharing options...
Paid Members Devon Malcolm Posted June 22, 2019 Paid Members Share Posted June 22, 2019 Might Possibly Decline Telling Truth. Quote Link to comment Share on other sites More sharing options...
David Posted June 22, 2019 Share Posted June 22, 2019 (edited) 11 hours ago, MPDTT said: ADA continues to collapse in BTC value as big daddy is on the rampage. This is not the time to be in alts - but a good alt season will arrive soon. Sorry, but saying that now isn't the time to be in alt coins is like a trader saying that now isn't the time to be trading pharmaceutical stocks. Each pharma company is different, and while industry-wide trends can affect pharmaceutical stocks as a whole, there is so much more to it than just getting a $15 sub to Trading View and looking for trend lines. Does technical analysis play a part? Of course it does, but only as a guide in conjunction with other factors. 11 hours ago, MPDTT said: ADA is at its worst level against BTC since Decemher and is under the 20, 50 and 200 moving average on the 4 hour chart, not to mention the CCI is negative. If we can get a bounce here, come back and retest it and get above the 20 MA on the 4 hour chart, I'd buy a bag, but that means seeing it get above 0.00000914, which should then be resistance. ADA looks terrible right now and isn't a buy: Again, I appreciate your use of jargon, and to the uninitiated it probably sounds impressive, but in all honesty none of it means anything unless you know the reasons behind why these things happen. Think about it this way. You say that ADA isn't an attractive trade at the moment, right? But, if we can get a bounce then things might change. Here's my question, if everyone is doing what you are and only going off the Trading View charts, and they are all concluding that ADA is a bad buy at the moment, then it would never change, right? It would remain in a negligible channel that doesn't change much, doomed to always be a "bad buy." It looks terrible right now you say, but why will that ever change? You know why? Because something will happen to make it change, and it has nothing to do with the Trading View charts or the trend lines your YouTube professionals are telling you to look at. There will be a catalyst of some sort that drives people like me to take note, at which point I'll check the charts and see what the lay of the land is. The charts are nothing more than a guide. Here's an example of how I'd approach this particular situation. I become aware of a development that will affect Cardano, such as the TestNet development I mentioned. I'll check out the information that's available, I'll look at a few different viewpoints on it, do some research, and see what's going on. Only at that point will I check the charts. I'll use them to see where the price of Cardano is sitting just now, and I'll look back to see what kind of movement the coin saw when similar catalysts occurred. I'll look for trends in where the price is currently sitting, and more importantly what levels it's risen to in the past. I can use that information to gauge what kind of return I'd roughly hope to see. If it looks promising enough to take the shot, then I will. I'll double check my research on the TestNet news, carry out my due diligence like a lot of people will, and I'll make my buy. Others like me will do the same, and this is what then starts the price moving upwards. It's because of people taking note of a catalyst and seeing a chance to profit that causes this "bounce" that you're talking about. The problem you and others like you face is that while I've done a bit of work to find out why Cardano has potential for a rise and then bought in while you think it "looks terrible" at a price that's reasonably low, you won't know anything about it until it starts to rise on your charts. There's a good chance that by then you've missed the ideal entry point and have jumped in either just before or at the tip of the rise. But that's good for me, because people like you cause the price pump that lifts the price higher, and just as a lot of the casual investors jump in I'll be looking to cash out, as i'll have seen a higher profit percentage from my buy-in area (the area you described as looking terrible.) 11 hours ago, MPDTT said: I know little to nothing of what the project is behind each coin - I trade the technicals. Yeah, which is why people like you lose $3,000 a year. I know that may sound harsh, but if it were just as easy as looking at a few charts everyone would be doing it. That's the difference between some schmuck who sits in his bedroom and trades penny stocks on his four screen setup and a professional trader who knows exactly what the fuck he or she is trading in. And as for your YouTube "professional," I hate to break it to you mate, but she's not a professional trader making a fortune on the markets. Her YouTube channel is simply a marketing funnel for the "insider strategy group" that she punts for 25 quid a month. Again, people like you who are looking for fast money and who like to throw around the jargon that makes you sound like you know what you're talking about are exactly what she's looking for. The fast money doesn't exist. There's a reason behind everything that's going on, such as this current rise in Bitcoin. I detailed it a few pages back for you. The halving process is the catalyst. Just be smart and don't get too greedy. Can you make money from crypto? Absolutely, but @Undefeated Steak is bang on the money, if you're only using the charts and the trend lines then you're basically gambling. You can pretend that you aren't, but you are. You admit to knowing fuck all about what you're trading, so you're basically taking a chance that something will hit your little line on the chart and change direction. Maybe it will, maybe it won't, but that's guess work. Unless you're operating with the knowledge of a catalyst, a real event, some change in technology, a top tech firm buying into a company, a change in protocols, an event, then you're gambling. Without knowledge you're guessing, or you're happy to be among the last to know when a catalyst has occurred and changed the price direction, which may lead to a bit of profit, or it may lead to getting in too late and being burned for thousands of dollars. Edited June 22, 2019 by David Quote Link to comment Share on other sites More sharing options...
Paid Members Your Fight Site Posted June 23, 2019 Paid Members Share Posted June 23, 2019 If I was killing it with cryptocurrency, I’d definitely be spending my free time extolling my experience on the UKFF. The value of any cryptocurrency is a gamble. No matter how much “technical analysis” is done. It’s value is only what people are prepared to pay. Even if they become scarce in number, if people stop buying them the value is going to drop. Quote Link to comment Share on other sites More sharing options...
Moderators PowerButchi Posted June 23, 2019 Moderators Share Posted June 23, 2019 4 hours ago, David said: . Without knowledge you're guessing, or you're happy to be among the last to know when a catalyst has occurred and changed the price direction, which may lead to a bit of profit, or it may lead to getting in too late and being burned for thousands of dollars. *Three thousand pounds sterling. Quote Link to comment Share on other sites More sharing options...
MPDTT Posted June 23, 2019 Author Share Posted June 23, 2019 (edited) 8 hours ago, David said: Sorry, but saying that now isn't the time to be in alt coins is like a trader saying that now isn't the time to be trading pharmaceutical stocks. Each pharma company is different, and while industry-wide trends can affect pharmaceutical stocks as a whole, there is so much more to it than just getting a $15 sub to Trading View and looking for trend lines. Does technical analysis play a part? Of course it does, but only as a guide in conjunction with other factors. Again, I appreciate your use of jargon, and to the uninitiated it probably sounds impressive, but in all honesty none of it means anything unless you know the reasons behind why these things happen. Think about it this way. You say that ADA isn't an attractive trade at the moment, right? But, if we can get a bounce then things might change. Here's my question, if everyone is doing what you are and only going off the Trading View charts, and they are all concluding that ADA is a bad buy at the moment, then it would never change, right? It would remain in a negligible channel that doesn't change much, doomed to always be a "bad buy." It looks terrible right now you say, but why will that ever change? You know why? Because something will happen to make it change, and it has nothing to do with the Trading View charts or the trend lines your YouTube professionals are telling you to look at. There will be a catalyst of some sort that drives people like me to take note, at which point I'll check the charts and see what the lay of the land is. The charts are nothing more than a guide. Here's an example of how I'd approach this particular situation. I become aware of a development that will affect Cardano, such as the TestNet development I mentioned. I'll check out the information that's available, I'll look at a few different viewpoints on it, do some research, and see what's going on. Only at that point will I check the charts. I'll use them to see where the price of Cardano is sitting just now, and I'll look back to see what kind of movement the coin saw when similar catalysts occurred. I'll look for trends in where the price is currently sitting, and more importantly what levels it's risen to in the past. I can use that information to gauge what kind of return I'd roughly hope to see. If it looks promising enough to take the shot, then I will. I'll double check my research on the TestNet news, carry out my due diligence like a lot of people will, and I'll make my buy. Others like me will do the same, and this is what then starts the price moving upwards. It's because of people taking note of a catalyst and seeing a chance to profit that causes this "bounce" that you're talking about. The problem you and others like you face is that while I've done a bit of work to find out why Cardano has potential for a rise and then bought in while you think it "looks terrible" at a price that's reasonably low, you won't know anything about it until it starts to rise on your charts. There's a good chance that by then you've missed the ideal entry point and have jumped in either just before or at the tip of the rise. But that's good for me, because people like you cause the price pump that lifts the price higher, and just as a lot of the casual investors jump in I'll be looking to cash out, as i'll have seen a higher profit percentage from my buy-in area (the area you described as looking terrible.) Yeah, which is why people like you lose $3,000 a year. I know that may sound harsh, but if it were just as easy as looking at a few charts everyone would be doing it. That's the difference between some schmuck who sits in his bedroom and trades penny stocks on his four screen setup and a professional trader who knows exactly what the fuck he or she is trading in. And as for your YouTube "professional," I hate to break it to you mate, but she's not a professional trader making a fortune on the markets. Her YouTube channel is simply a marketing funnel for the "insider strategy group" that she punts for 25 quid a month. Again, people like you who are looking for fast money and who like to throw around the jargon that makes you sound like you know what you're talking about are exactly what she's looking for. The fast money doesn't exist. There's a reason behind everything that's going on, such as this current rise in Bitcoin. I detailed it a few pages back for you. The halving process is the catalyst. Just be smart and don't get too greedy. Can you make money from crypto? Absolutely, but @Undefeated Steak is bang on the money, if you're only using the charts and the trend lines then you're basically gambling. You can pretend that you aren't, but you are. You admit to knowing fuck all about what you're trading, so you're basically taking a chance that something will hit your little line on the chart and change direction. Maybe it will, maybe it won't, but that's guess work. Unless you're operating with the knowledge of a catalyst, a real event, some change in technology, a top tech firm buying into a company, a change in protocols, an event, then you're gambling. Without knowledge you're guessing, or you're happy to be among the last to know when a catalyst has occurred and changed the price direction, which may lead to a bit of profit, or it may lead to getting in too late and being burned for thousands of dollars. Gambling yes, but 50/50 coin toss, no. I often describe crypto trading as a form of gambling. Edited June 23, 2019 by MPDTT Quote Link to comment Share on other sites More sharing options...
simonworden Posted June 23, 2019 Share Posted June 23, 2019 On 6/20/2019 at 7:28 PM, UK Kat Von D said: That’s ideal for me because I have literally zero self control and will withdraw rather quick I'm not sure if nobody making a joke about this is progress or worrying for the UKFF 19 hours ago, Undefeated Steak said: If you're looking to make money by investing, you should be looking 20+ years and be putting your money in something like a lifetime ISA or tracking a fund. Couldn't agree more with this, looking more long term in life i've spent the last few years trying to trade, reading about charts pissing about with crypto etc while reading books on how to do it. After chatting to a few people it became apparent I was still chasing the dream of teenage me to be a millionaire in my 30s (deadline has sadly passed), I was recommended a few books including some written by people in my profession and it became clearer that the winners (a comfortable rising investment portfolio) are those with long term investment commitments to things like index funds not trying to predict the next dip and rise but averaging it out over a much longer period Quote Link to comment Share on other sites More sharing options...
David Posted June 23, 2019 Share Posted June 23, 2019 7 hours ago, Your Fight Site said: The value of any cryptocurrency is a gamble. No matter how much “technical analysis” is done. It’s value is only what people are prepared to pay. Even if they become scarce in number, if people stop buying them the value is going to drop. That's true, but what people are prepared to pay is determined by factors that can be recognised. A lot of people (not meaning you here) believe that cryptocurrency pricing trends are arbitrary by nature, which isn't altogether true. What draws a lot of people to crypto in search of "quick riches" is the volatile nature of the industry, and that volatility exists because it's still relatively new and hasn't really found its place yet. Another important factor is the lack of real regulation. In the US we see the PDT rule that requires traders maintain a minimum fund of $25,000 otherwise their ability to place trades is restricted to something like four trades in any working week. The argument that the PDT exists to ensure that those who don't have $25,000 to spare aren't able to make money, or exists to protect those people has raged on for years. One thing we know is that cryptocurrency has no such rules. Everyone is entitled to win or lose depending on their knowledge and expertise, which is something I like about it. Personal responsibility reigns supreme. 2 hours ago, simonworden said: Couldn't agree more with this, looking more long term in life i've spent the last few years trying to trade, reading about charts pissing about with crypto etc while reading books on how to do it. After chatting to a few people it became apparent I was still chasing the dream of teenage me to be a millionaire in my 30s (deadline has sadly passed), I was recommended a few books including some written by people in my profession and it became clearer that the winners (a comfortable rising investment portfolio) are those with long term investment commitments to things like index funds not trying to predict the next dip and rise but averaging it out over a much longer period Anyone who goes into any kind of investing or trading looking to become a millionaire is very likely going to be disappointed. Unless you had a sizeable chunk of cash and happened to invest it into the next big thing, such as Twitter, Uber, Tumblr or something similar, or happened to be able to catch lightning in a bottle like Tim Sykes. I'm not sure that I'd really bother with a lifetime ISA, as the conditions and penalties attached to it are ridiculous, unless you're terminally ill or buying a house, but a tracker fund is definitely a decent way to secure a relative small return each year and is something I've been doing for a few years now. Unless you're playing with significant sums of cash though, it isn't going to really pay for much, but it's a nice thing to have. The FTSE 100 index yields around 4.25% annually, which means a return of £42.50 for every £1,000 invested. The average Joe or Joanne won't be living it up in Malibu when they hit 50 years old by any stretch, but it's still pretty good, and a nice place to park any profits gained elsewhere. I'm certainly not a trading professional (I wouldn't even describe myself as a trader in the true sense), but I look to maximise potential earnings based on industries I'm interested in. That includes tech and by extension blockchain and crypto. I'm the opposite of @MPDTT in that I follow the actual companies rather than look at the charts first. If I see some news, external VC investment or something along those lines I'll do some research (this is when the charts actually come into play) and see if there's any real scope for a decent profit on a short-term investment. That investment could range from a few days to a few weeks, or on occasion a few months. Again, I'm no professional trader, I'm not Gordon Gekko by any stretch, but on average I'm making far more than 5% profit on my investments yearly. I've made double that in a few weeks on a couple of occasions over the past year, and that includes crypto investments. Knowledge is key. There is no fast track way to make a lot of money, or an easy "just chuck your savings in here and you'll make a fortune" method. It comes down to how much work you're prepared to put in when it comes to clueing yourself up and measuring the risks. Most people want the easy option, and the truth is that the easy option won't see you get much of a return. That's why it's the easy option. If anyone wants to earn a decent return on their investment capital they're going to have to invest some time, which means not crashing on the couch after work and watching Netflix every night, and unfortunately that's something that most of us aren't willing (or able, if we have young families etc) to do. Nothing wrong with that of course, but it shouldn't be said that there isn't another way to go about things that will see someone earn more return. The opportunities are there if we put in the work and educate ourselves. It's also about measuring the risk and not being stupid. I'm sure if I took a lot more time than I currently do I'd be able to make even more of a return, but I'm one of those Netflix people I mentioned previously. Quote Link to comment Share on other sites More sharing options...
simonworden Posted June 24, 2019 Share Posted June 24, 2019 15 hours ago, David said: That's true, but what people are prepared to pay is determined by factors that can be recognised. A lot of people (not meaning you here) believe that cryptocurrency pricing trends are arbitrary by nature, which isn't altogether true. What draws a lot of people to crypto in search of "quick riches" is the volatile nature of the industry, and that volatility exists because it's still relatively new and hasn't really found its place yet. Another important factor is the lack of real regulation. In the US we see the PDT rule that requires traders maintain a minimum fund of $25,000 otherwise their ability to place trades is restricted to something like four trades in any working week. The argument that the PDT exists to ensure that those who don't have $25,000 to spare aren't able to make money, or exists to protect those people has raged on for years. One thing we know is that cryptocurrency has no such rules. Everyone is entitled to win or lose depending on their knowledge and expertise, which is something I like about it. Personal responsibility reigns supreme. Anyone who goes into any kind of investing or trading looking to become a millionaire is very likely going to be disappointed. Unless you had a sizeable chunk of cash and happened to invest it into the next big thing, such as Twitter, Uber, Tumblr or something similar, or happened to be able to catch lightning in a bottle like Tim Sykes. I'm not sure that I'd really bother with a lifetime ISA, as the conditions and penalties attached to it are ridiculous, unless you're terminally ill or buying a house, but a tracker fund is definitely a decent way to secure a relative small return each year and is something I've been doing for a few years now. Unless you're playing with significant sums of cash though, it isn't going to really pay for much, but it's a nice thing to have. The FTSE 100 index yields around 4.25% annually, which means a return of £42.50 for every £1,000 invested. The average Joe or Joanne won't be living it up in Malibu when they hit 50 years old by any stretch, but it's still pretty good, and a nice place to park any profits gained elsewhere. I'm certainly not a trading professional (I wouldn't even describe myself as a trader in the true sense), but I look to maximise potential earnings based on industries I'm interested in. That includes tech and by extension blockchain and crypto. I'm the opposite of @MPDTT in that I follow the actual companies rather than look at the charts first. If I see some news, external VC investment or something along those lines I'll do some research (this is when the charts actually come into play) and see if there's any real scope for a decent profit on a short-term investment. That investment could range from a few days to a few weeks, or on occasion a few months. Again, I'm no professional trader, I'm not Gordon Gekko by any stretch, but on average I'm making far more than 5% profit on my investments yearly. I've made double that in a few weeks on a couple of occasions over the past year, and that includes crypto investments. Knowledge is key. There is no fast track way to make a lot of money, or an easy "just chuck your savings in here and you'll make a fortune" method. It comes down to how much work you're prepared to put in when it comes to clueing yourself up and measuring the risks. Most people want the easy option, and the truth is that the easy option won't see you get much of a return. That's why it's the easy option. If anyone wants to earn a decent return on their investment capital they're going to have to invest some time, which means not crashing on the couch after work and watching Netflix every night, and unfortunately that's something that most of us aren't willing (or able, if we have young families etc) to do. Nothing wrong with that of course, but it shouldn't be said that there isn't another way to go about things that will see someone earn more return. The opportunities are there if we put in the work and educate ourselves. It's also about measuring the risk and not being stupid. I'm sure if I took a lot more time than I currently do I'd be able to make even more of a return, but I'm one of those Netflix people I mentioned previously. Me too, well sort of, i've being studying pretty intensively for my own career the last 2 years and only dipped in and out. Before I started I made some decent returns but the year after with studying happening I didnt have the time or effort to keep up with it and made some stupid mistakes. I actually don't touch the FTSE at the moment as being out of the UK there's no real benefit right now to investing in an index with a lower rate of return. Ideally when I'm through the final 10 months of my course i'll spend more of my free time on it again with a portion of my portfolio dedicated to larger risk. But for now its Netflix when my head's not in book and hopes my index's keep rising. Quote Link to comment Share on other sites More sharing options...
MPDTT Posted June 24, 2019 Author Share Posted June 24, 2019 Free Monday night Crypto analysis for anyone interested. About to go live. Quote Link to comment Share on other sites More sharing options...
Paid Members Sergio Mendacious Posted June 24, 2019 Paid Members Share Posted June 24, 2019 I'd rather steam clean my entire body, but cool, cool. Quote Link to comment Share on other sites More sharing options...
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