xReminisce
Elite Member
- Dec 29, 2012
- 7,329
- 36,654
This could be tied to Amazon potentially looking to accept BTC as a payment method?
BTC recovery starting now.
- Thread starter Nash Commerce
- Start date
Nash Commerce
Regular Member
- Jun 29, 2020
- 539
- 862
- May 18, 2012
- 7,647
- 7,494
The guys from Wallstreet have a lot of money, I don't. Money makes money. It's as simple as that. They can take risks, and I did too, but I got ****** in the ass because of those rich ******** dumping BTC. They bought it again after the dump and sold it after it recovered to some extent, which I couldn't do because I had already invested whatever money I could afford to lose.
They don't have any limits, those rich MFs.I'm talking like I'm not a retail trader, because I don't act like one
. Even the banks act like retailers from time to time, but not me .Anyway I didn't want to bash you up or something, but that conventional thinking about "support" and "resistance" is going to trick you hard at some point.
The market makers know you guys are drawing those lines and that you are entering your positions when there are 3 hits to your "support" or "resistance" and tend to get pretty wild around those areas so they can liquidate or stop as many positions as they can there.
Any conventional TA that the retailers use is also used by the market makers to make those traders believe something is happening.
Also there's no such thing as buyers or sellers stepping in. There's only market makers allowing them to step in. Those guys have the order books at lvl2 (including SL, TP and liquidation points) and they are the one who decide when they're going to stop filling orders in certain direction and reverse by releasing their positions and start filling order to the other side.
This is a business model designed to move money and if you dive into the PVSRA indicators you can see the market makers footprints and ride with them while they move money
P.S. about the pivot points - there are several tradingview indicators about them, but you can also calculate them by yourself if you follow this https://www.babypips.com/learn/forex/how-to-calculate-pivot-points
P.S.2 PM me if you are interested about seeing how deep the rabbit hole goes, you seem like a reasonable guy which I can talk to
Last edited:
CoderFromHell
Power Member
- Mar 19, 2019
- 727
- 341
Bitcoin will rise on November 3rd
- Nov 12, 2020
- 3,598
- 1,962
Thanks for this information.
Larry Igna
Power Member
- Nov 25, 2016
- 663
- 715
Well, there is a link about pivot points already, but another one doesn't hurt.
Pivots Investopedia
About how Wall Street traders trade, there is a lot to talk about, so it would be better to search on Google about quants, algorithmic trading, high frequency trading. Basically the whole process involves programmers looking for statistically repeated behaviors on certain markets and deployment of specific bots that execute against that specific model that is proven profitable through backtests.
Searching through historical data is usually done with Python and neural networks (machine learning) and execution is done with bots (usually written in C or C++ it other low level programming language, for max speed).
The real profitability doesn't come from one strategy though, it's usually about hundreds of simultaneous trades on different markets. What's important here is the risk associated to all trades and that's measured through some parameters called "greeks". You may have heard about "Gamma squeeze" when GME madness started. Gamma is one of those parameters.
There is a lot to talk about this subject, Google may be your friend if you want to know more.
However, Wall Street traders don't use moving averages crossings and the kind of BS you usually find on TradingView.
Here's the most interesting part though, if you find some interesting angle that you think it may be profitable in the long run, and you may have dabbled with programming in the past.. then it's worth learning Pine script (TradingView's proprietary language) and build a strategy there. This way you can backtest how it works, what's the profitability, max drawdown, Sharpe ratio, stuff like that..
And if it works, you may not need to be a hedge fund to trade in profits.
Pivots Investopedia
About how Wall Street traders trade, there is a lot to talk about, so it would be better to search on Google about quants, algorithmic trading, high frequency trading. Basically the whole process involves programmers looking for statistically repeated behaviors on certain markets and deployment of specific bots that execute against that specific model that is proven profitable through backtests.
Searching through historical data is usually done with Python and neural networks (machine learning) and execution is done with bots (usually written in C or C++ it other low level programming language, for max speed).
The real profitability doesn't come from one strategy though, it's usually about hundreds of simultaneous trades on different markets. What's important here is the risk associated to all trades and that's measured through some parameters called "greeks". You may have heard about "Gamma squeeze" when GME madness started. Gamma is one of those parameters.
There is a lot to talk about this subject, Google may be your friend if you want to know more.
However, Wall Street traders don't use moving averages crossings and the kind of BS you usually find on TradingView.
Here's the most interesting part though, if you find some interesting angle that you think it may be profitable in the long run, and you may have dabbled with programming in the past.. then it's worth learning Pine script (TradingView's proprietary language) and build a strategy there. This way you can backtest how it works, what's the profitability, max drawdown, Sharpe ratio, stuff like that..
And if it works, you may not need to be a hedge fund to trade in profits.
alcowallsneon
Junior Member
- Jun 13, 2021
- 104
- 51
I just want to buy an GPU for my PC
Finally someone in this forum that knows how the markets work and is not just screaming "bull", "bear", "triangles" and shit!
P.S. Those high frequency traders use the EMAs, but not in the way most of the people think about them. The price hits them, because many people look at them (especially the crossing which is showing what happened, not what is happening now) and are entering positions when price acts in certain ways around them. If your eyes are trained enough on looking at charts, you can actually see what the short term intention of the market makers is and "ride" the wave with them.
Last edited:
shanna_doll
Senior Member
- Apr 10, 2012
- 827
- 522
You can't compare stock market with cryptocurrency market. It is like comparing real product vs. piece of shit enveloped in a shiny bag.
I'm comparing it to Forex and you can't imagine how much in common they have, but crypto is better for trading IMO, because it's still in adoption phase and the volatility is bigger. As example if USD/JPY has average daily range between 25 and 50 pips, BTC/USDT has ADR around 15000 to 25000 pips.
Larry Igna
Power Member
- Nov 25, 2016
- 663
- 715
I understand something, not everything. There is enough math behind it to make me step back and look at it "WTH does that mean?".So, not expert.
About EMAs,, it's one thing to look for every EMA20 > EMA50 crossover/cross under and a different thing to see the price below EMA200 and say "I'll probably take only the shorts if the opportunity arises".
I would disagree here. Crypto market is probably the only thing that resembles to FREE MARKET. No time constraints, you can trade 24/7, not only when NYSE is open (that's when real things happen in stock market), no circuit breakers, that's why you have true volatility, sharks can eat small fish without any limits, no shitty informations about GDP, earnings or whatever that may affect the price passed only to the insiders. It's all on blockhain, anyone can see it.
So, crypto market is better in some way. Young and inefficient yet? Probably. Will that change? Absolutely.
PM me if you are interested about the topic "market psychology". My trades are mostly based on psychology and how the market makers use conventional TA to trick the retailers believing something. Your understanding of the 200EMA makes me think you'll be interested in what I'll show you.
P.S. Don't worry I won't try to sell you anything I make enough from my job and my trades, I'm just trying to help a fellow trader
JessePinkmanBB
Junior Member
- Jul 13, 2020
- 162
- 217
Where are the noobs who said they'll see me at $10k price point?
Larry Igna
Power Member
- Nov 25, 2016
- 663
- 715
Very interesting fact about Bitcoin that no one talks about (being on BHW makes me think everyone will talk from now on):
Whenever we have reached a new ATH, we never visited the previous ATH, not even in the worst crypto winter.
Cool, right?
Whenever we have reached a new ATH, we never visited the previous ATH, not even in the worst crypto winter.
Cool, right?
crnack
Banned for repeat violations
- Oct 10, 2017
- 1,351
- 1,558
I see your hopes for pockets full of fortune.
Larry Igna
Power Member
- Nov 25, 2016
- 663
- 715
Yes...and no. I've came to see crypto world when Circle (the company) was founded. So, I'm a bit old, I've seen a few things all this time.
Bitcoin world has changed for a bit since then. There are new coins, new Bitcoin killers..this time around those have a better chance to actually kill it. It's hard to predict the future, my crystal ball is breaking often nowadays..
shanna_doll
Senior Member
- Apr 10, 2012
- 827
- 522
Crypto market is not as transparent as you may want to believe. It is just as rigged as stock market, probably even worse, considering Tether is printing like crazy, as well as Binance, Coinbase etc.... crypto market is irrational and I wouldn't invest one cent into it. It is matter of time before it all collapses, and many guys will be left with worthless digital coins, that anyone can create with copy/paste.