JayJuanGee
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How much alt coin diversification is needed? 0%?


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March 18, 2014, 08:51:13 AM

it is not a "SIGNIFICANT MOVE" as far as bitcoin price action is concerned, but it carries information in the short-term.

Exactly. Earlier today when I posted a chart illustrating the support breach this morning and lack of pressure to fuel a strong bounce, I was told I was over-analyzing. And I thought, do people around here wait for a sell-off to conclude that the price might go down? I'm trying to close or accumulate position before that occurs....

yeah it seems many traders around here don't understand the idea of keeping ahead of the market. chasing the market is more obvious, but obviously less profitable Tongue

it also doesn't require empirical methods of constructing a workable signalling theory like the one i outlined in my last post. but then again, many traders here don't even "believe in" TA at all Wink

Why does it even matter if some traders have different points of view than you. So What...?  Not everyone here is a day trader, and sometimes BTC movements take place based on factors other than trend lines.  Surely, if I am fairly confident that a certain movement is going to take place, then I will act based on that confidence.  One of the problems with bitcoin; however, is that one or two whales can change the direction - and especially catch the less experienced "traders" off guard (to the extent that some of us are still engaging in trading, in spite of proclamations to the contrary).