Mike Fishy Traders Summary


#21

Just completed the 4x on NANO :sunglasses:

Anyone else ride the NANO wave?

Stay Fishy


#22

Not me fella…but congratulations.
Awesome trading mate.
:beers: :sunglasses:

Off topic whats your take on Moon Phases…seem to work well for crypto.


#23

Moon Phases? No, two week cycles following Futures/Media tends to be the way it is.

Anyway, todays interesting items:

Forbes: Could Bitcoin Replace Credit Cards?
“From a merchant perspective, Bitcoin has the advantage of not having large fees from credit card companies that cut into profits,”

Nano has now overtaken ETH to reach highest traded volume on Binance - woot! :sunglasses:

ETH and BNB have completely opposite approaches to making a token valuable.
ETH = Give away 3 ETH to ASIC miners at every 15 second block that then potentially sell the coin immediately causing constant downward pressure on the price. Inflationary. Decreases scarcity of the token.
BNB = Four times a year, they buy back tokens with their profit and destroy the tokens, causing regular massive buy pressure. Deflationary. Increases scarcity of the token.

IOTA: Fujitsu and IOTA show new PoC for the manufacturing industry

ICON has been rolling out a constant stream of new Developments, News, Partnerships this month as well as more communication to the public.

VeChain: Huge Gains in Transactions and September Booming with Partnerships

NEO: Spam attack and code updates to deal with it. Basically giving transactions that are paying fees priority over free transactions and if transaction limits are reached, it will even drop some free transactions (as in the transaction is never processed). So if you are trying to do a free transaction on NEO, there is now no guarantee it will complete.

LIKE: Augist 27th - LikeCoin doing a “Mining Beta 2” where the pool coin rate is increased significantly to attract miners.

NTWK: August 27th - Token swap date

August 30th items:
TRON: Tron Main Net Upgrade.
LOC: Credit Card Support starts, also Russian and Chinese translations.
EMC2: Lightning Network on EMC2 Mainnet (Einsteinium)

August 31st:
NPXS (Pundi) Airdrop
MFG (Syncfab) Token Burn
EXP (Expanse) Airdrop
OCN (Odyssey) Airdrop
ZPT (Zeepin) Main Net Launch
POLL: ClearPoll Platform Launch
BTC - Last Trade Date for CME Futures: https://www.cftc.gov/dea/futures/deacmelf.htm

Forex:
EURO gains against USD after large losses, clawing back at losses, but not showing too much momentum. Hopefully the EURO will make some recovery otherwise some countries in Europe are really going to struggle again.
USD is consolidating after: Trump criticized Fed policy for the second time in a month on August 20 saying, “I’m not thrilled with his (Jerome Powell) raising rates, no. I’m not thrilled.” - Also USD did not make a breakout of the former resistance levels of last week.
JPY (Yen) Still testing the 2015 trend line, bears still seem to be in control as Japan tries to deal with a very weak currency. Maybe they should buy Bitcoin? :stuck_out_tongue:

Sentiment:
For the EURO, it’s a busy week ahead, with business sentiment and consumer confidence figures out of Germany on Monday and Tuesday, French GDP numbers on Tuesday, Germany employment numbers on Wednesday and August prelim inflation figures out of Spain, France, Germany, Italy and the Eurozone through the week to also influence.

For the GBP, it’s another quiet week ahead, with stats limited to house price figures that will leave the Pound in the hands of Brexit chatter through the week.

For the Aussie Dollar, stats through the week include July building approval and 2nd quarter CAPEX figures due out on Thursday and July private sector credit numbers on Friday. The Aussie Dollar will also be influenced by political noise following Turnbull’s ousting on Friday of last week and sentiment towards trade and China’s economy.

For the Japanese YEN, stats through the week include July retail sales figures due out on Thursday and finalised July industrial production, August Tokyo core inflation figures and July employment numbers on Friday, retail sales and inflation figures the key drivers through the week.

Out of China, stats out of China are limited to the government’s August private sector PMI numbers, the markets looking for any further signs of weakness that would drive demand for the save havens and the Dollar. Forecasts are for a slight uptick in private sector activity that would leave focus on trade war chatter through the week.

Iran, Turkey - they are getting more isolated by the day.

Russian - Focus is on China at this time and so far is keeping silence over USD pressure.

Shorts on AUD, JPY, and of course EURO:
EUR/USD: Short Positions Increase 30% This Week already…

Very Busy week this week, keep your eyes peeled, there could be a breakout in Crypto.

Stay Fishy


#24

Never paid much attention to Nano (formerly Raiblocks) ,long term Hodl of yours? Also,that Stellar/Coinbase news slipped right by me!

Any preferred news sources you go to for this info?


#25

I see BAT is in the top 5 as well!


#26

@Mike_Fishy Help a brother out, what’s the Nonreportable indicators represent? :cowboy_hat_face:


#27

Oh easy one, these are traders that did not meet the minimum $$ value to be reported under law.

Basically, you have whales (people that bet a lot of $$$) and small traders who only take out a single contract, kind of like roulette, betting on either red or black. The big traders take out contracts on both sides to minimize losses and the insurance covers the rest. Big traders never loose, neither does the “bank” (CME).

Remember, with these contracts, no Bitcoin is ever purchased or sold, it’s just an I.O.U.

That’s why the Financial system is in such a mess, these I.O.U’s are what is used to manipulate markets by the “old boys”. Personally, I don’t like them, but it’s a part of the broken system we have to live with for now.

However, there is a small positive side, if the number going short greatly exceeds the number going long and the close price looks like it will be awarded to those going long (ie: the closing price is higher than the opening price for the cycle), it causes a large buy of the actual asset, as this reduces the losses paid by the insurance companies.

So if you are wondering who does the buying, its the Insurance brokers. They buy it to cause an upswing for the next contract cycle which “tricks” more people into going long as the previous cycle ended long (bullish sentiment), then they sell them off (at a profit) and plug the media with FUD and other tricks to cause the cycle to end short (profit again).

It’s the same the other way as well, so the insurance brokers always hold a percentage of the contracts they are covering in the actual asset, it stops them from loosing by “creating” the cycles.

Like I have said before, the “old boys” don’t play fairly, they know the game well and have been playing for a long time - they never loose. This is why the numbers are worth watching and also knowing when the cycles start and end, it has a “predictive” nature about it.

Anything predictive can be used to your advantage.

Stay Fishy


#28

No, Nano was short term due to the news and annoucements. I didn’t expect it to 4x though, that was a bonus.
It is definitely having a correction now, and probably for a while to come yet.

For Sources, I use a combination of Google Alerts, Coindar, DailyFX, FXPro, Government Financial Sites, American Association of Individual Investors, NEM News and others.

I normally write myself a summary at the start of each day to track things for myself. I thought it would be nice to share the “habit” so others can see how us “oldies” live :stuck_out_tongue:

Following simple habits, even DCA, is a good thing, after a while it just becomes a part of the daily routine you do without even thinking and can lead to much prosperity for those who stick at it.

Zombified individuals who stare at phones and distractions all day - are the real fish. The rest of us…

Stay Fishy


#29

Mike it’s absolutley champion effort from you with these posts, i don’t know about everyone else but i really enjoy them. Nano i think took alot of people by surprise, no way did i expect that either.
Our little icon pump was nice to see though, and personally iv’e just got out and waiting for us to trickle back down and hopefully find some support around 0-75-80c.

My DCA is to put $5 away a day into crypto, so one of my alt coin positions which is only about 4 coins. Every time i want to go buy a coffee, i just resist the urge and put the extra into crypto too. Hoping we actually move sideways for rest of the year to keep accumulating but we’ll see i guess mate.

i stumbled across a website the other day which gives you the heads up on upcoming events for projects on that day. Bit like a crypto calendar…let me know what you think!


#30

Hi Leo,

Yes, I know that site as well and I do check it, just it can take a while to load from Australia :slight_smile:

For those that read this mornings summary and put a punt on IOTA, you would have bought in at about 54 cents and right now it is sitting on 61 cents (11.475%) and still has some steam in the buy pressure on the EMA, but maybe not for much longer. VeChain also did quite well today.

The summary is not financial advise, it simply things “in the spotlight” that are possibly worth watching for that day or if you have some spare funds, take a “punt” that it might do well for that day. There is never any guarantees, but things which appear in the “spot light” tend to grab short term attention.

That is why its a good habit, making a summary and watching how things play, even if you don’t take a “punt”.

DCA is still always a safe bet on good projects, you are in it for the long term.

“Punts” are short term bets that something in the spotlight can make a short term move, but carry a reasonable level of risk. The idea is to make a summary, watch the market, the ones in the spotlight that start to make a move are the ones you could make a short term “punt” on for a few hours, maybe a day or two depending on the buy or sell pressure on the Exchange books (look at the depth setting).

This is actually a Forex strategy, works equally well elsewhere.

Stay Fishy


#31

This bears repeating.


#32

great thread, bookmarking/tracking


#33

Ah wev’e got a aussie over there do we! Just a pom over here mate :wink:

Will be following your posts closely mike, it’s great to have chaps like yourself in here. It’s what makes the pub such a great place, all contributing in our own little way! Right now the two projects im most bullish on apart from BTC, would be ICX and BNB.

Anyway enjoy the rest of your day :+1:


#34

Do you have any long term Hodl at all?


#35

Yes, I do have long term Hodl’s. I am holding ICX, BNB, BTC, ONT and VET, plus a small amount in a few others.

Anyways, moving on to today’s interesting items:

EOS: New EOS Bug Steals Resources Directly From Users

BTC: Tom Lee is Standing by His $20,000+ End-of-Year Target

XRP: According to a study by Stanford University and The University of Stockholm XRP is the best macroeconomic choice

Tether: $50m Tether sent to BitFinex (every week or so on average)

ETH: Kin becomes an Ethereum competitor by planning to support tokens and smart contracts

ICON: (ICX) Jumps 25%, ICONLOOP Gets Government Recognition

DASH: Is Dash about to fire its CEO?

ENJ: Announcing the First Gaming Multiverse, Ever. — Powered by Enjin Coin

BCASH: Bitcoin Cash Struggles to Displace BTC Since 78% Decline in Value

Constellation: IBM’s blockchain ecosystem Global Leader, CMO of Mozilla - talking on Constellation’s panel at TechCrunch on 7th September.

Undervalued Cryptocurrencies: Ontology, ICON, Monero, NEO Gas, Enigma, Binance Coin.

VeChain: Sunny Lu talks about the future of VeChain, hints at another automotive partner.

Substratum: SUB new product announcement is scheduled for today.

LSK: Core v.1.0 on Mainnet scheduled for tomorrow.

Bitcoin ABC: airdrop is a hardfork of Bitcoin Cash (BCH). It will take place on November 15th.
(how many more Bitcoin forks of forks can we still do? :joy:)

Forex:
USD: Despite a supportive message at Jackson Hole, the US Dollar sold off. New support level reached, if it drops below this level, likely to go short.

USD/CAD testing make-or-break support on heels of US Mexico Trade Deal. If this deal isn’t signed before the end of month, then likely to go short on CAD.

AUD/USD Bullish on Rising Terms of Trade, Fading Geopolitics. AUD is making a small gain, but still below previous month average.

Shorts on the following:
GBP/USD
XAU/USD
EURO/USD
JPY/USD - Japan is still struggling…

Shorts on Bitcoin increases by 0.6% over yesterday. Bitcoin may again test resistance levels.

Gold, Crude Oil Prices May Weaken Further on Hawkish Powell Speech

USD Forex Sentiment: 38.5% Bullish, 34.5% Neutral, 27.1% Bearish.
Good to see actually, I think the USD might be ok on the new support level, which is very positive for the US economy.

Stay Fishy


#36

No NEO for you, good sir?


#37

I actually had to login to check, Yes, I do have some NEO, it’s in the “small” basket.

Anything less than 2 BTC, I don’t really count.

Punting on VET (VeChain) today, I got in at $0.01652, it peaked at $0.01816, but I was over-zealous on my bullish momentum prediction and it stop loss’d out at $0.01775, which netted a 6.93% gain. Should have held it longer, it looks to be not quite finished on its bullish run and is now at $0.01789.

However, when manually trading, setting the Stop loss bar upwards as things progress is always a good plan.

Edit: the “hint of a new automotive partner” tends to bring the bulls on from the News today.

Edit: If you are wondering how I fair, I generally punt with 3 BTC, 6.93% gain is approx USD $1400 which is pretty tiny compared to my Forex trades :sunglasses:

Having said that, the 4x on NANO, which turns 3 BTC into 12 BTC, does out-perform Forex, which is what draws me to the Crypto traders market, it can be rather exciting sometimes.

Stay Fishy


#38

Mate, if anything less than 2BTC doesn’t count then you are operating on a whole different level to me. You are killing it!


#39

Hi, Mike… this is just fantastic stuff,Its like having my own bloomberg terminal!
Congratulations on the awesome trading fella,but it comes as no surprise,reading your threads.
2 things if I may ask?
Is it possible for binance to offer trailing stops at some point or is it a non starter?
Where can I find volume chart for swedish xbt note provider, as im believing they actually have to buy BTC as it attracts more notes?
Many thanks. All the best
:beers:


#40

Yes thanks for your posts