goldbug1

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If you have been following me I have mentioned over and over the importance of having good quality coins, as market corrections tend to weed the weak from the strong. We have all been expecting a correction in Bitcoin, and like tides, lower tides lower all ships. It appears we are entering a new moon. So how do we profit from this? I'm do not recommend shorting...

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As my other coins seem to be recovering nicely from the market correction, Neo has become a laggard. I wrote yesterday that when everyone is calling for a pullback,and most are negative on the market, this is generally the signaling point we have hit bottom. So we take this as an opportunity to trim off the fat in our wallets and adjust our holdings for the...

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Vitalik Buterin was allegedly quoted in saying 90% of coins will cease to exist and fail. Wow coming from him (if this is true) this is a red flag to us that we must be cautious on what we invest into. A lot of traders trade the news, so if I was doing a pump and dump, I would be forefront in the news, providing updates on twitter, pumping up the coin on sites,...

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When we look at the fundamentals of a coin, there are very few other than longevity, application, Team, and most importantly, is there a current application or is it still in development. GEO was my first alt-coin I bought for speculation, but maybe it's not speculative anymore. We see coins with promises, timelines for development, and alledged "contributors or...

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I wrote yesterday that I appreciate the many coins people have requested for me to review. I'm putting together a Team that I want to win championships with. I get sent many potential players to the field to see if there is any potential. Yes just like coaches that assess players we assess coins. Well of all the coins I have looked at, Metal metal quickly made...

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Interesting comparison I was looking at before I go to bed. I thought some of you may like it. Just confirms why OMG is the largest holding in my portfolio now. I have compared all of the coins people ask me to review. I may not have posted on them yet, but I do a very quick review. I hit compare and see how it has done compared to OMG. I have yet to see one...

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Many times charts do not provide us with great EW counts, or other indicators that we use just do not seem to work. So as we have made a nice 50% profit on Kore since out buy, we need to see if we should take some money off the table or there is the potential for another leg up. This you have to monitor closely as we have seem to be entering a sideways movement,...

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I have been testing various strategies on various coins as you guys know. I'm not a "one fit all" kinda guy. This is the worst kind of strategy, as various coins take on various patterns, and though some may have similarities they are all unique and hence each strategy is unique as well. Some has asked what indicators do you use? The answer is the best strategy...

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Today someone posted on my blog that I may have my count wrong and that NEO could correct further. Well I'm not perfect and though I could see a possibility I decided to open up my chart with daily bars instead of 30 minute. NEO has some track record but not much, so it is hard to compare previous movements with current because in the 1 day time frame this is...

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It's been a few days (four to be exact) since we woke up and realize the market had sold off. Whether it was the China Syndrome or just typical profit taking after some great performances which led to a broader selloff is insignificant at this point. This morning I was looking at four of my long term holdings to see how they performed since the market...

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Last night we went over the EW TA on GNT and whether you agreed with my count or had a different count shouldn't really matter at this point. I think we can all agree that the cycle had ended, and we were waiting on our indicators to tell us which direction the market is headed. Last night provided that direction, almost. We have received an early signal but...

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Ok you didn't expect to hear that did you? You expected me to open the doors, break out the beer, nachos and party hats. But not yet! But why in the world would I be selling here? I like NEO from a speculative long term position. It's in my core portfolio. So why would I sell? Well I did not sell any of my core position to be honest. I have said time and...

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If your new to Elliott Waves, this is probably one of the more difficult graphs to try and figure out. So most will scrap it and say "see elliott wave doesn't apply to everything". Well it does, and it works. First I'm going to say what I use Elliott Waves for. I use them to determine what cycle we are in. Why is this critical one might ask. Well it's...

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Since many of you follow the news, I want to show how I am looking to adjust my wallet going forward based on the China Syndrome. Now I don't trade on the news, but the news on China showed us something very interesting. Yes this should have hit your radar yesterday when we were tracking several coins like NEO, PAY and OMG. All three were in consolidation...

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I've seen numerous coins consolidating similarly, and though I thought PAY would be the first to break out, OMG appears to be leading. Fake breakouts happen all the time, so I am looking for the RSI to break 72, and OMG to break the former resistance line. Being it was in a bearish trend we will most likely see it bounce back from the resistance line and back...

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Pay is trading nicely in a consolidation box, and I have trades in both. I am actively trading the lower into the upper and will buy back into the lower. This is two separate trades and you must keep track of cost averaging. The target levels for the lower box is T1 the upper box T2. I have adjusted my stop loss according to each trade. I am long with PAY so...

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As many of these coins do not have long histories it is difficult to get a general idea of where we are in different time frames. So we must look to other similar similar coins to gain a gauge of where we are, and moreover where we are going. The chart above, which is based on my interpretation, shows we finished a complete cycle in a 4 hour bar, monthly graph....

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Nothing like waking up and seeing your holdings down 10-15% and realizing you missed your exit point. What do we do now? I must had 30+ text messages this morning discussing should we get out of the market. My first response was if you think it's going down further sell and go long BTC and then switch the USD, but I asked a simple question, why are you getting...