Bad trader learned a harsh lesson :)

3 Ağu 2018

If you have not heard already, an idiotic trader with millions to lose overcut support again, probably same fool that stole my fills past 3 trades :)

He cannot cover now he is in deep shit.
You mess with me, this is what happens.

bloomberg.com/news/articles/2018-08-03/a-massive-losing-bet-on-bitcoin-futures-has-investors-buzzing

Did I miss out on the past 3 setups? YES, 90% or more of my orders did not get filled.
Did other traders overcut levels and make money? YES.
Did this guy make millions in the past 2 months and felt like the king of the world? YES.
Did I make much progress in the past 2 months? NO.
Did I blow up and am now millions in debt that I can never repay? NO.

Taking it slow, not taking much risk, missing out often, and I will be one of the very few chosen ones at the finish line :)

This fool went all in, I am sure he overcut as usual. But this time it went further. And so the millions he made the last few times are gone.
The exchange contacted him several times but he ignored them and kept increasing his positions, till they froze his account so he could not increase more.

Mess with me and this is what you get.

The best part is these people liquidations filled my longs placed close to support :)

It is always the same, they come, they get lucky, they see a thing or two and think they know something, they make it big, call themselves legends, they do not respect the market, think they are so much better than all the OG's Soros Warren Buffet etc, and then the market makes them pay the highest price.
Who knows, this idiot might even end his life. Oh I am not mean enough to smile at this, it is not my style. :))))

I have to tell you, I just feel so satisfied right now.

If 7300 is the bottom and the price just spikes after, I will be euphoric.

3 Ağu 2018

Not

Hey you never hear about the fools that make it big and then lose everything.

3 Ağu 2018

Not

See this?
Drop a 1rst time with divergence, then drop a second time, then V shape recovery


Or this?



Or this?


Or this?


Or this?


Or this?


Or this?


Or this?


I hope I made myself clear.



I understand how someone could get overconfident.
But "past performance is not indicative bla bla".

Just because something worked 50 times in a row previously, does not mean it will keep working for the rest of our lives.
Do you want to blow up once it stops working?

What I personally believe is if it stops working it will be progressive, as long as I scale carefully and don't all in overcut by 500$ (lol) when it starts not working so well I will still win OR at least not lose too much...

3 Ağu 2018

Not

If the price drops, I guess the best most probable area to go long will be:

4 Ağu 2018

Not

8H inside bar bear break.
Let's see if what Bitcoin did 15 times in the past 5 months happens once again.



The 15 min RSI is at 17.9, 5 minutes got down to 15.8, 1HR 28.8.
More bullish divergence on the 4H.
Added $100 to my position, that ought to do it :p

A few orders for a couple thousands waiting between $7000 & $7150.
I think it can go as low as 6800, but below that something is wrong.

4 Ağu 2018

Not

We should at the VERY LEAST get something like this.

4 Ağu 2018

Not

I just found out some suckers were actually streaming crypto? lolwut? XD

Sucker making a 1BTC to 100 stole my fills for the past weeks and went all in each time, and now he got liquidated.

BitmexREKT. Hehehe.

Nothing can go wrong if like me you:

1- Have several Bitmex accounts.
2- Scale & are prepared for the worse (the worse is I blow 1 small account if price drops below 6800)
3- Trade other stuff. (FX etc)

twitch.tv/itsfknraw

A challenge like this makes 0 sense and means nothing, you are going to blow up eventually. If you don't, it's pure luck you are a lottery winner.

4 Ağu 2018

Not

The rice chessboard story (you probably know it, don't read all of it unless you are interested XD)

********************
"
There's a famous legend about the origin of chess that goes like this. When the inventor of the game showed it to the emperor of India, the emperor was so impressed by the new game, that he said to the man

"Name your reward!"
The man responded,

"Oh emperor, my wishes are simple. I only wish for this. Give me one grain of rice for the first square of the chessboard, two grains for the next square, four for the next, eight for the next and so on for all 64 squares, with each square having double the number of grains as the square before."
The emperor agreed, amazed that the man had asked for such a small reward - or so he thought. After a week, his treasurer came back and informed him that the reward would add up to an astronomical sum, far greater than all the rice that could conceivably be produced in many many centuries!
"
****************************

Apparently that guy did not read that story.

Same story as Lord Ashdrake except he blew up his entire trading account (I guess the challenge guy that was not all of his money).

These people are unbelievable (Lord Ashdrake).

How dumb do you have to be to think you just invented a magical system that can never fail?

It is so obvious to me that you have to increase your position exponentially and it will be unsustainable.
But may be it is just because I did maths at school, and I know stuff such as "if you fold a piece of paper 50 times, the thickness of it will be enough to reach the SUN".

From this article
learntotradethemarket.com/forex-currency-trading-blog/why-college-dropouts-succeed-at-trading

"For example, most traders are thinking about indicators, trading robots, “secrets” to wealth, trying to trade without stop losses, etc, I would call this more of the status-quo of Forex trading. "

So every (bad, new) trader is looking to "cheat" the system somehow lol.
Trading without stop loss, I assume he does not mean not having a stop loss with your broker, or 1 far away and stopping yourself manually.
Indicators and "secrets" work if you find the right ones (biggest secret is to stick to the basics and also go with the trend).

But I assume what the sentence means is traders are looking for cheaps "tricks" to get rich quick and cheat the system. That is pretty dumb.
(Only a genius like me can do it obviously :D)

I would say 2 ways of doing this:

- Respect the basics and all that stuff, but do it perfectly. Try seeing what others don't see if you'd like but it won't bring much. You don't have to do anything special, but even if you do, you still stick to the basic rules. If something is overcrowded go look at something with less competition, no need to be a hero.
This is what happened with crypto, very few sophisticated traders were touching it, so they saw this and started coming for easy money, and of course it got overkill, place got so crowded, bled dry, and now crypto is the crowded less interesting space :)

- Find a niche... Still got to have most of the same skillset anyway. Skillset is don't be a moron and have common sense. You won't get a list of qualities from me "discipline" "whatever" "patience" "bla bla". All of this is obvious... so I just call it "common sense" and "not being a dumbass", 2 qualities that's all.

4 Ağu 2018

Not

Hahaha so this idiot overcut that level:



twitch.tv/videos/292389083

Same as all the previous levels that got overcut by ~ 1.5%

I bet he overcut that level too:


And that one too:


I barely got filled on those and made almost nothing idk maybe 50$.

7800 was not good enough for me to even go long at all.
Funny thing is if you look at it, it got overcut by many traders like him, and bounced, but no follow up. :)



Good thing is I can go to twitch and see them overcut support and celebrate and then cry, and drink their tears.

youtube.com/watch?v=48H34ukFe8g

Being up a few hundreds is not much, but it is way better than being liquidated and even losing your starting money :)

250$ >> 0. 250$ >> - 1 Bitcoin.

4 Ağu 2018

Not

Have been trying to log in with UNREGULATED broker Bitmex for half an hour.
I give up, and if they successfully hunt me and my order on my other account does not get filled, I quit crypto and wait for Hayes to get what he deserves, or at least go to jail.

It already fucked me because I was not able to amend my orders and got filled at prices I wanted to lower...

Crypto compared to FX: 10 times the work, 10 times the technical problems, 1/10 th the trading opportunities, 1/10 th the RR.

I think I let myself stay in this ponzi because crypto ideas generate 25 times the interest of anything else. Biased.

4 Ağu 2018

Not

Volume dropped yet I still cannot login.


"504 Gateway Time-out"
I ONLY get this when we are close to my liquidation price.
Since they don't let people set orders below their liquidation price they have to log in at these times...

Funny how bigger drops with more volume happened when my liq price was far and I did not get 504 Gateway errors.

I can guarentee you 100% they are hunting their clients.