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Forum on trading, automated trading systems and testing trading strategies
Press review
Sergey Golubev, 2019.07.05 06:33
Crypto News - Bitcoin: ranging bullish; 13,884 is the next target (based on the article)
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The chart was made with Ichimoku market condition setup (MT5) from this post (free to download for indicators and template) as well as the following indicators from CodeBase:
Forum on trading, automated trading systems and testing trading strategies
Press review
Sergey Golubev, 2019.07.23 07:28
Crypto News - Bitcoin: bullish correction; 9,074 is the key (based on the article)
This psychologically-significant area of confluence is highlighted by bullish trend support and the 38.2% Fibonacci retracement of the cryptocurrency’s year-to-date trading range. Although BTC dipped below this support zone last week, the move to the downside seemingly lacked conviction as the cryptocurrency quickly rebounded."
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The chart was made on MT5 with standard indicators of Metatrader 5 together with the following indicator from CodeBase:
Forum on trading, automated trading systems and testing trading strategies
Press review
Sergey Golubev, 2019.08.09 17:56
Crypto News - Bitcoin: bullish trend to be resumed by symmetric triangle pattern to be crossing to above (based on the article)
Alongside this, the Relative Strength Index (RSI) crossed above 50, however remained flat around 60 after, indicating to a paused uptrend move."
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Chart was made on MT5 with Brainwashing system/AscTrend system (MT5) from this thread (free to download) together with following indicators:
Same system for MT4:
Forum on trading, automated trading systems and testing trading strategies
Which strategy is best for bitcoin?
Chris70, 2019.08.13 18:18
I have to admit that I don't trade BTCUSD, but the reasons why I don't go back to exactly the title of this thread, namely the question towards reasonable strategies (and the possibility to have an edge) in this market.
So here's why in my opinion crypto currencies are different:
1. They have no inherent value, meaning: all currencies basically are just numbers, but conventional currencies derive their inherent value from the fact that they are broadly accepted as payment; of course, they could be replaced by something else (yes, also by Bitcoin for example), but it is practically impossible that this happens from one day to the other, so as long as such changes take at least a little bit of time, conventional currency have a monopoly status in their economy, which is why they can't dissappear at least not tommorrow. Crypto currency on the other hand are really just numbers. Although they are sometimes accepted as payment, this usually is only an option and it is not without alternative (normal money could do the job just as fine). So although Bitcoin might be a great idea and maybe it is the future, the inherent value just isn't there YET.
2. They have no underlying fundamentals, meaning: BTC is largely independent of the economy both on a global and national scale (once you substract the USD influence in the BTCUSD pair). Even if trading happens on technicals entirely, the hypothetical assumption that price moves are not purely random still justifies the question if fundamentals that drive the price do exist. For BTCUSD the answer clearly is NO.
3. A handful of big players are able to manipulate the price, just because they own significant proportions of the whole cake, and nobody knows how their actions will affect tommorrow's BTCUSD price, so while there is no edge (at least not without illegal(?) insider information), there is big risk involved (which of course is also true for the relationship between conventional currencies and Trump's next tweet...).
4. They rely entirely on sentiment, meaning: if true value, political events, economical processes and other fundamentals don't drive the price, then what does? Just the fact that people attribute conceived value to this currency. It's just goes back to people's belief and expectations. In on word: sentiment. So this is why I think that IF anybody is willing to trade BTCUSD, than some kind of sentiment analysis specifically on the crypto market is the only way to go (and NOT technical analysis in this case).
Other opinions? [....sentiment? ;-) ]
Forum on trading, automated trading systems and testing trading strategies
Press review
Sergey Golubev, 2019.08.17 08:56
Crypto News - Bitcoin: daily ranging near bullish reversal; weekly bullish with symmetric triangle pattern for direction (based on the article)
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Chart was made on MT5 with Brainwashing system/AscTrend system (MT5) from this thread (free to download) together with following indicators:
Same system for MT4:
Confessions of a Crypto Millionaire: My Unlikely Escape from Corporate America
by Dan Conway
"A highly dramatic but lucid introduction to the murky world of cryptocurrency." – Kirkus Reviews
Forbes article description
This book is NOT a cryptocurrency guide or a Bitcoin manual. It is the story of how an underdog, badly scarred by his battles with life, fights for survival...and comes back in a big way: Dan Conway made millions investing in the cryptocurrency Ether.
The book comes out on September 9th and I advise you to consider pre-ordering it now. Why? Well, first because it’s on pre-order special and only costs $2.99 for the ebook...but more importantly because you’ll find that it contains useful work and life lessons.
The book reads like a memoir. The opening chapters provide context for the author’s loneliness and struggles. He confesses to his family struggles and work problems with incredible vulnerability. He exposes his battle with alcohol, drugs and depression. Then he explains why crypto made sense for him.
Conway didn’t get addicted to crypto out of greed. He got “hooked” out of principle. The idea behind cryptocurrency is that decentralization produces better results than our current societal model: corporations and governments hold most of the power and make rules for the rest of us . Crypto is something different. Its #1 principle is that “currency is owned and controlled by the people, not by any central authority.”
Conway didn’t work for a bank. He worked for one of those large corporations whose culture was punctuated by politics, bureaucracy and propaganda. This made matters worse. Conway became increasingly suspicious of the “gatekeepers and rule makers” that rule our lives. He grew wary of their power and how they could affect our privacy and personal liberty. His experience is reminiscent of what Neo’s situation might have felt like in “The Matrix”.
For Conway, crypto was only partly about the money. It was also about finding liberation and salvation. And crypto hit him at his core. My favorite quote: “It turns out,'' he says, “that my entire identity had prepared me for crypto”.
How do you feel about crypto now?!
If you don’t know anything about crypto and want to get a decent explanation before reading this book, watch John Oliver’s take on it below (the “Dan” he refers to in it, is NOT the book’s author).
Forum on trading, automated trading systems and testing trading strategies
Press review
Sergey Golubev, 2019.09.20 09:20
Crypto News - ETH, XRP, LTC, And XLM Stage Big Rally (based on the article)
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The chart was made on MT5 with standard indicators of Metatrader 5 together with the following indicator from CodeBase:
Forum on trading, automated trading systems and testing trading strategies
Press review
Sergey Golubev, 2019.10.17 16:52
Crypto News - Litecoin: daily ranging beliw Ichimoku cloud in the primary bearish area; weekly bearish breakdown(based on the article)
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The chart was made with Ichimoku market condition setup (MT5) from this post (free to download for indicators and template) as well as the following indicators from CodeBase:
Forum on trading, automated trading systems and testing trading strategies
Press review
Sergey Golubev, 2019.11.25 11:43
Crypto News - Bitcoin: weekly breakdown with the bearish reversal; long-term bearish reversal with 3,649 resistance level (based on the article)
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The chart was made with Ichimoku market condition setup (MT5) from this post (free to download for indicators and template) as well as the following indicators from CodeBase: