Mike Fishy Traders Summary


#101

Excellent advice, trailing stops can be of value but more complicated, playing without a back stop even if you are a great catcher is not smart baseball. :baseball:


#102

Been watching things progress and the price range is tightening forming a Flag.

For the non-traders:

Flags and pennants are continuation patterns. They are traded in the same way, but each has a slightly different shape. The terms flag and pennant are often used interchangeably.

The sideways period is often followed by another sharp rise. This is where the trading opportunity comes in. Once the flag pole and a flag or pennant have formed, traders watch for the price to breakout above the upper flag/pennant trendline. When this occurs, enter a long trade.

Read more: Analyzing Chart Patterns: Flags And Pennants https://www.investopedia.com/university/charts/charts6.asp#ixzz5Rz80CdyC

Today and this week looks to be headed to some interesting outcomes.

Stay Fishy


#103

I just posted an article stating something similar here: Bullish Continuation Patterns for Lisk and Waves


#104

Upcoming $BTC Important Dates :

  • 28 SEPT - CME SPET. LAST TRADE
  • 30 SPET - SEC ETF DATE
  • 17 OCT - CBOE XBT EXPIRATION DATE
  • 26 OCT - CME OCT. LASTE TRADE
  • 14 NOV - CBOE XBT EXPIRATION DATE
  • 30 NOV - CME NOV. LAST TRADE.
  • 19 DEC - CBOE XBT EXPIRATION DATE.
  • 28 DEC - CME DEC. LAST TRADE.

#105

So if you know an announcement of some kind is coming out you can generally profit from it. Looking at the coin calendar is a must for traders along with TA or no?


#106

Thanks for the comments and the important dates @mwlang

Yes, one of the main reasons I have always done a daily summary is to keep an eye on what is going on to potentially make extra from it. Some have not been so great, some like NANO did a 4x (400%+). I have been making myself a summary for as long as I can remember, posting it was to show what to look for and how you can invest small amounts of time for a large amount of benefit.

The Summary is a daily routine that helps you identify potential trades and the sources you can use is many. The daily trades I perform manually, will often outperform my bots, as it is based on things a bot just cannot do yet without some seriously extensive coding. No bots have this level of AI to my knowledge and require human intervention on a regular basis.

On to today’s items.

Firstly, the consolidation is happening which is great, I thought with the flag forming it was going to have a breakout, but instead the market remained sane and consolidated, which is better. When the market behaves in the right cycles, investors have confidence in the technology and platforms.

BTC is compressing and trading between a tight range of $6500 to $6670. When BTC goes sideways like this in a tight range, the alt coins do the same but generally with more volatility. This is great for traders and the market in general and often leads to a breakout forming a higher range later on. If BTC has another breakout, we should expect the new trading range to be somewhere between $6800 and $7000, then hopefully the cycle repeats, each time gradually moving up until we meet the next dump. The dumps are also fairly healthy, it keep price sanity and the new cycle forms. Over the long term, good stable growth. Thats the traders dream :sunglasses:

Doesn’t always go this way, which is why I do this every day.

SWIFT Responds to Ripple Competition by Slashing Settlement Times to ONE DAY
(Ha! Finally the monopolies crumble!)

Bill Gates gives a new and positive view on Bitcoin saying “Bitcoin is exciting because it shows how cheap it can be. You do not need to be in the same place in the world to perform transactions and for large transactions, fiat is very inconvenient. Bitcoin is better than Fiat currency.”

Vitalik Buterin Trashes EOS’s On-Chain Governance
(When you can’t say anything positive about what you do, talk trash about someone else, this guy should be removed from the Ethereum Foundation, he is disruptive to the cause)

VeChain Thor Is Primed for Mass Enterprise Adoption
VeChain is going it right, they go after 2 specific niches:

  1. Mass data tracking/aggregation, which is turned into meaningful and valuable insights
  2. An efficient distributed platform for dApps
    Supply chain Management and goods tracking is a nightmare, platforms like VeChain could bring changes that are sorely needed.

A member of the Ethereum Enterprise Alliance has launched EthScanr - an app where you can track your portfolio and any wallet movements on the Ethereum blockchain
(if only Vitalik talked about that instead…)

ETN has instant transaction time. Also over 100% growth 7 day moving average
(Bet Richard Ellis is dancing a jig lolz)

Litecoin maker Charlie Lee is striking back at what he calls a “coordinated exertion to stifle” the LTC cost on the gathering of bearish brokers and speculative stock investments who are endeavouring to short the coin. (Fired up Charlie is best Charlie!)

Pundi X (NPXS) Is Pushing For Mass Adoption Of Verge (XVG), Stellar (XLM), And NEM (XEM)

Global Cryptocurrency Regulation is Moving in the Opposite Direction of Privacy Coins Like Monero (XMR)
(of course they are, means they are going to have their own)

Lots of de-listings of CDA’s from several exchanges today and tomorrow. Be sure to check on your exchange which ones are going and make sure you clean house as needed. In most cases, if you want to keep the CDA as you think it might make a comeback, you can still transfer to your wallet even after it has been de-listed, but exchanges generally only keep that option around for a month.

GVT is currently doing a beta test of the product before releasing the beta to all today. So far the feedback forums look very positive. I would have thought GVT to drop below $8 before now, but it seems everyone is very bullish on holding their GVT for the product launch. It is likely I will use the platform as well.

The rest of the announcements are the same as yesterday, there is so many and I filtered through as many as I could. Still believe this is going to be a big week, so keep an eye on the BTC breakout.

Forex:
USD Support Kicks in as Market Risk Appetite Sinks

There were no material stats released through the Asian session this morning, with China and Japan on holiday. Asia Market showing very mixed sentiment and bullish towards USD.

Very quiet on the Forex news today, this might lead investors to diversify more.

Sentiment:
EURO - Mixed - 59% Short
GBP - Mixed - 56% Long
JPY - Mixed - 56% Short
CAD - Mixed - 64% Long
AUD - Mixed - 49% Short (will the #shtcoin make a comeback? lol)
XAU - Bearish - 85% Long (small amount of funds leaving Gold is a good sign)
Bitcoin - Bearish - 79% Long
Ethereum - Bearish - 91% Long
Ripple - Bearish - 94% Long

For the sentiment, compare with numbers from yesterday and you can see which way the market is heading. The Mixed, Bullish and Bearish is today, the Long/Short is contract term. The average short/long contracts are for 2 weeks or a month depending on whom provides them.

Remember, during the lows it is the maximum potential, while during the highs it is the maximum risk.

Stay Fishy


#107

Love the posts as always man :weary::handshake:


#108

#109

Thanks mate these are great rundowns.


#110

Not sure this is current. Pretty sure he made that comment in 2014.


#111

appreciate the frequent trader reports :slight_smile:


#112

He’s on the other side,

MAY 7 2018 Microsoft co-founder Bill Gates said Monday he would bet against bitcoin if he could.

“As an asset class, you’re not producing anything and so you shouldn’t expect it to go up. It’s kind of a pure ‘greater fool theory’ type of investment,” Gates said on CNBC’s Squawk Box.

“I agree I would short it if there was an easy way to do it,” he said.


#113

Morning all,

Yes, did find it strange that Bill Gates was jumping fence, never can rely on the media…

It does appear BTC has consolidated and is now going sideways again, so we could be looking at a breakout later, otherwise just more sideways. Sideways is good for me though :slight_smile:

Bitcoin featured as a question on “Who wants to be a millionaire” show in Australia.

Bitcoin Bulls Winklevoss Twins Eye Huge New European Market
(They are making some moves, shall be interesting)

As predicted, Jed McCaleb is dumping billions of dollars worth XRP
(I would too, when markets spike like that, time to go short lol)

ConsenSys Has Begun Using Ethereum to Supply Electricity to Texas

Tether is Not a Bitcoin Manipulation Tool, New Study Finds (o’rly?)

Tron (TRX) CEO Justin Sun tells developers to do away with Ethereum

Crypto Giant Circle Lists EOS, Stellar, 0x and Qtum
(I am still quite bullish on QTUM, I think it is the real competitor to NEO)

IOTA’s Price Nosedives But The Foundation’s Projects Continue Strong

Introducing the new project on the Stellar network : Cross Hedge
Cross Hedge focuses on democratising the access to fund and asset management through Artificial Intelligence and Ledger Technology - namely to develop peer-to-peer distributed investment services and a wealth-management mobile application.

Brave Publishers Can Now Have Their Identities Verified with Civic

Lots of new listing and de-listings on several exchanges both today and tomorrow, so check your exchange for the updates as there was a long list.

Keeping it short today, I need to go finish some code.

Forex:
Greenback Remains at the Fulcrum - The major currencies are mixed in quiet turnover. Most of the European currencies are firmer, while the dollar-bloc currencies, yen and Swiss franc are softer. Emerging market currencies are steady to higher, though there are a few exceptions in Asia, where the Indonesian rupiah and the Chinese yuan are off about 0.3%, while the Indian rupee and Malaysian ringgit are around 0.2% lower. Asian equities were heavy, though the Nikkei rallied to its best level since February. European shares are mostly higher.

EURO - A total seesaw night in FX with EUR/USD first rising towards the 1.1800 level on news that Italian government promised to adhere to EU budget guidelines, only to tumble to a low of 1.1735 on comments from ECB’s Praet.

Overall there was little rhyme or reason to the action as the markets essentially traded back and forth awaiting today’s marquee event of the week - the FOMC rate decision.

Sentiment:
EURO - Mixed - 61% Short
GBP - Mixed - 57% Long
JPY - Mixed - 59% Short
CAD - Bearish - 63% Long
AUD - Mixed - 49% Short (trading sideways, but most investments from China have gone)
XAU - Bearish - 84% Long (small amount of funds leaving Gold again)
Bitcoin - Bearish - 79% Long (+3% on yesterday)
Ethereum - Bearish - 91% Long (No change)
Ripple - Bearish - 95% Long (+1% on yesterday)

Only other item of interest was Spot Copper prices, which has rallied the last few days, which was 20% correction from the downfall to Copper from June. This suggests demand for Copper is on the rise, which also suggest Industrial Manufacturing is on the up side.

The Dow Jones is at (or near) its 2018 high and is having a correction, the traders are 64% short.
Volatility was added back to the traditional stock market this past week, but it was in pursuit of reviving waylaid medium-term trends.

Last quarter is showing bullish signs fairly much all round.

Stay Fishy


#114

You hodl QTUM? I have always liked the project but never invested.

Introducing the new project on the Stellar network : Cross Hedge
Cross Hedge focuses on democratising the access to fund and asset management through Artificial Intelligence and Ledger Technology - namely to develop peer-to-peer distributed investment services and a wealth-management mobile application.

Stellar always has the cutting edge announcements and developments!


#115

Hi AmorFati,

Yes, I do still hold quite a bit of QTUM. I have a feeling that they will do very well in China on niches that NEO doesn’t cover. The project has also steadily produced results, which is better than NEO in some cases :stuck_out_tongue:

Stellar looks positive, but seems to have a lot of competition in the market they are approaching. While technology is great, the adoption of it is key and right now, traditional firms are holding all the keys - for how long? Can’t really say.

However, I popped in to add something about BTC.

Today, I have seen several multi-million buys on BTC at exactly $6400.00
Looks like a Whale is accumulating, which I thought I would share as it could mean if a breakout happens, it might dump shortly afterwards.

Stay Fishy


#116

Thanks @Mike_Fishy, I wanted to ask what you make of this…these are from yesterday.

image

image


#117

I saw this once before, for some reason the book orders get cross-linked with LTC.
The low value ones are actually orders on LTC, not BTC.

Love software bugs :slight_smile:

Stay Fishy


Bitcoin Price Thread
#118

QTUM is a great project, I’ve been in and out of that project for well over a year now. Going to start DCAIng it again as of payday this Friday!


#119

Morning all,

You know, for the last week of Sept and the quarter, I would have thought BTC to rally more, but it appears it is struggling to get past the $6700 resistance line and is hovering between the $6300 and $6550 range this week.
Trade Volume is actually up, so it is a bit perplexing why it hasn’t rallied yet. Large orders at the $6400 mark suggests some accumulating, possibly for a medium term if the last quarter shows an end of year rally which has been common in it’s history.

Some of the Alt’s have been doing quite well and their volatility allowed for some good trades yesterday (which netted me about 15 BTC by doing several switches). I have noticed the Alt’s seem to be getting a bit more attention leading up to the last quarter, which was expected due to all the new product announcements, partnerships, launches and so on, but volume is still quite low.

XRP appears to have dominated the traders yesterday, but is consolidating now.

BCH also rallied and is consolidating, was one of the best trades of yesterday.

For today

LTC added to 130 RaspiBlitz Lightning Nodes

Tron network accounts have exceeded 400,000

BCH gets new feature for censorship resistant file storing

Unfortunately, being cut short today on the summary due to a day out with the boys, so…

Be Fishy!


#120

Is Tron really going to decentralize the Internet? Why it has potential?
400,000 accounts is very large, that means many people believe in it, comparing to BZNT 2000 holders.
What do you guys think?