Do you feel comfortable in trading Cryptocurrencies ???

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Rohit Khurana
188
Rohit Khurana  

Do you think conventional Elliot wave theory and Japanese Candle sticks can estimate or extrapolate the moves while trading crypto currencies???

Lets us Share our experience in trading cryptocurrencies such as XBT/USD, ETH/USD, XRP/USD !!

Marco vd Heijden
Moderator
8156
Marco vd Heijden  

Do you mean the CFD's or the Blockchain ?

Rohit Khurana
188
Rohit Khurana  
Marco vd Heijden:

Do you mean the CFD's or the blockchain ?

Yes, now you may even trade Bitcoin and Altcoins on an MT4/MT5 platforms.
Marco vd Heijden
Moderator
8156
Marco vd Heijden  
Rohit Khurana:
Yes, now you may even trade Bitcoin and Altcoins on an MT4/MT5 platforms.

No thats not correct.

Those are CFD's futures contracts and you are not trading the actual coin.
maragathame
39
maragathame  
Marco vd Heijden:

No thats not correct.

Those are CFD's your not trading the actual coin.

Can you elaborate when you mean "that's not correct" ??

Coz there are brokers like AVA trade and XM providing such features to trade on MT5 platform !!

Rohit Khurana
188
Rohit Khurana  
maragathame:

Can you elaborate when you mean "that's not correct" ??

Coz there are brokers like AVA trade and XM providing such features to trade on MT5 platform !!.


I agree. Be it a CFD or a virtual currency,  my topic for discussion is "whether Elliot wave theory and Japanese Candle sticks can estimate or extrapolate the moves while trading crypto currencies"
Marco vd Heijden
Moderator
8156
Marco vd Heijden  

Have you found any ? because i don't use it.

It does not take rocket science to see the light.


The first correction was from June 14 until July 16, so more or less one month.

The second correction was from Sept 2 to Sept 15, more or less two weeks.

The third correction was from Nov 8 to Nov 13, so only a week.

As you can see the corrections get narrower in time and more violent in price swing.

This is the pressure on the bubble.

We are currently in the/ at the peak of the 'Mania Phase' where the public get's involved (CFD's) and they become delusional...

So explain to me,

Why do you need Elliot wave theory or Japanese Candle sticks ?

And what do you think is going to happen next ?

Rohit Khurana
188
Rohit Khurana  
Marco vd Heijden:

Have you found any ? because i don't use it.

It does not take rocket science to see the light.

The first correction was from June 14 until July 16, so more or less one month.

The second correction was from Sept 2 to Sept 15, more or less two weeks.

The third correction was from Nov 8 to Nov 13, so only a week.

As you can see the corrections get narrower in time and more violent in price swing.

This is the pressure on the bubble.


So explain to me,

Why do you need Elliot wave theory or Japanese Candle sticks ?

And what do you think is going to happen next ?


Hmm.. I guess your stand is pretty clear. But that's' exactly the whole point of discussion. I would love to hear what others are thinking.
Marco vd Heijden
Moderator
8156
Marco vd Heijden  
maragathame:

Can you elaborate when you mean "that's not correct" ??

Coz there are brokers like AVA trade and XM providing such features to trade on MT5 platform !!


Trading the coin will mean that your transaction will be registered or hashed into a block that is on the Blockchain.

Every transaction can be looked up and verified from the first block ever mined.

For CFD's or futures contracts, this is not so.

These are Contract's for Difference so you can speculate about the value of the coin on some future date.

This means that your transaction does not gets registered or hashed into the Blockchain.

As such most people who do not understand Blockchain technology and trade CFD's have the impression and say that they are 'trading Bitcoin' 

But this is not the case.

They usually do not realize the difference between a transaction on the Blockchain, which is decentralized, and a position at a broker or exchange, which are centralized. 

Since the power of Bitcoin and other altcoins is the decentralization, and it's Blockchain making it tamper proof you would have to ask yourself, what you are actually trading when using an exchange or broker.

But the same question can be asked for Bitcoin itself.... I guess the answer will be that you are trading trust.


Now the last Bitcoin fork (BTG) did not go as planned and there are various reports surfacing about Bitcoins being stolen, as well as brokers going bust because of the last correction while offering high leverages...you can do some research yourself about what is currently going on in the crypto currency areas.

Things are moving rather fast, these days.
maragathame
39
maragathame  
Marco vd Heijden:

Trading the coin will mean that your transaction will be registered or hashed into a block that is on the Blockchain.

Every transaction can be looked up and verified from the first block ever mined.

For CFD's or futures contracts, this is not so.

These are Contract's for Difference so you can speculate about the value of the coin on some future date.

This means that your transaction does not gets registered or hashed into the Blockchain.

As such most people who do not understand Blockchain technology and trade CFD's have the impression and say that they are 'trading Bitcoin' 

But this is not the case.

They usually do not realize the difference between a transaction on the Blockchain, which is decentralized, and a position at a broker or exchange, which are centralized. 

Since the power of Bitcoin and other altcoins is the decentralization, and it's Blockchain making it tamper proof you would have to ask yourself, what you are actually trading when using an exchange or broker.

But the same question can be asked for Bitcoin itself.... I guess the answer will be that you are trading trust.


Now the last Bitcoin fork (BTG) did not go as planned and there are various reports surfacing about Bitcoins being stolen, as well as brokers going bust because of the last correction while offering high leverages...you can do some research yourself about what is currently going on in the crypto currency areas.

Things are moving rather fast, these days.

And your point is ?? That There is no relevance of elliot wave theory or candles while trading CFD's on MT4/MT5 ... Is it ??

Marco vd Heijden
Moderator
8156
Marco vd Heijden  
maragathame:

And your point is ?? That There is no relevance of elliot wave theory or candles while trading CFD's on MT4/MT5 ... Is it ??


There are actually a lot of points in what i wrote there...

If you are unable to locate them just stick to Elliott and candles, and don't worry about it.

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