Update #3 on the anticipatory BTCUSD short

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
1438 16 6
Most of my trades are REACTIVE,
meaning I buy after a panic or sell
after a strong upswing. However,
this short is ANTICIPATORY, meaning
I'm trading into support with lower highs
"probing" to see if support can crack, which
would lead to a big run down. It's lower
probability, but the reward is big enough to
take on the risk.
i have also buyed a position in btc as its a cfd till monday it showed a 5% growth but now it roll down to 2.8% . why do you think should i wait to go . what are chances of not getting any down or vice versa ...
thank you ayush
hello cam to know you today and found your webinar link in the comments sections and registered for it hope i will find some good guidance as i am new here . thank you .......ayush
Hi Chris! Just getting started with you work. Would getting in on this short still be a good idea now? Perhaps on the current retrace? Thanks.
Ok, a real question this time. Chris, how do you determine where to take profit? I see your blue band just above the absolute bottoms. Is this generally how you approach taking profit on a short position?
see above...
Hi your gonna start selling now at the $820 and buy back as it retreats? are you projecting a possible bottom of $770 range ?
I'm looking for a crack below $800. Targets are anywhere from $725 - $775 depending on price action. Follow me on twitter for live updates on what I'm thinking @chrisdunntv
Hi Chris, Just found out about you and am really inspired. I am new at this and am not doing well lately. Trying to get into good habits. So right now its down around 820. Is it still worth shorting? I wanted to short up on that top of the last hill but got scared out when it went against me - typical noob response. Also, what do you think about how Bitstamp isn't following the shape of Mt. Gox. At one point they were nearly 130 points different!
To be honest, if you have to ask if it's a good trade, then you should probably sit on the sidelines. The mental side of trading is much bigger than most people expect. I'd recommend reading "trading in the zone" by Mark Douglas to help you develop your psychology before risking money.

Ya, MtGox is a joke IMO. I have a feeling they're gonna have some big liquidity problems in the near future.
OdinNygard chrisdunntv
Only time I felt gox were worth for a newbie like me on were on the fee free week (were so easy to make cash that weekend). And after the Willy bot started buying and back to fees without a discount I found its not even worth it anymore.
I also just found the mental toll of trading. It was great when i was earning, but when i got my fist big loss i just kept losing until i took a break from trading.
Thanks for the book tip will defiantly take a look at it .
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