4Thats something you could easily get into and it should be over worth at least $500 a coin by this time next year. I bought my coins at $30 a few months ago and its already trading around $130 a coin. It is what most people think BTC is. It is completely anonymous plus plus offers all the same security of the blockchain with none of the downsides. All of the darkweb sites are switching over to monero and there is a good chance it will take over BTCs dominance of cryptos.
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4Thats something you could easily get into and it should be over worth at least $500 a coin by this time next year. I bought my coins at $30 a few months ago and its already trading around $130 a coin. It is what most people think BTC is. It is completely anonymous plus plus offers all the same security of the blockchain with none of the downsides. All of the darkweb sites are switching over to monero and there is a good chance it will take over BTCs dominance of cryptos.
I just glanced over it and wondering how to best purchase monero. Should I buy bitcoin and switch to monero?
Some brokers make you buy monero with btc, but you can buy it with your depitcard or bank transfer on these sites
Bitfinex
Kraken (only accepts BTC)
AlphaCashier
MoneroDirect
Just do not use Poloniex. They offer the most variation of coins but they have a bad reputation of not allowing people to withdraw when price is volatile. Kraken would be my first choice.
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Quote Originally Posted by SFGiants93:
I just glanced over it and wondering how to best purchase monero. Should I buy bitcoin and switch to monero?
Some brokers make you buy monero with btc, but you can buy it with your depitcard or bank transfer on these sites
Bitfinex
Kraken (only accepts BTC)
AlphaCashier
MoneroDirect
Just do not use Poloniex. They offer the most variation of coins but they have a bad reputation of not allowing people to withdraw when price is volatile. Kraken would be my first choice.
Where will you make that thread? On this baseball forum?
Probably General Discussion.. I will put a link in this thread :)
I mostly trade forex using some pattern recognition software that I wrote over the past few years. It identifies harmonic patterns, Fibonacci ratios and uses elliotwave theory to label major wave and minor fractal waves. According to Elliotwave theory price action can be down into waves made of 5 impulses and 3 impulses. With the 3 impulse waves being a correction or pullback of the initial 5 wave move. Identifying these waves allows traders to make a projection of probable future price It also quantifies the momentum of the price movement with the goal of identifying a divergence in price and momentum which occurs at the end of a major 5 or 3 wave sequence. For example a 5th wave is completing on a bullish move you will often notice if you look at the momentum at the top of the 4th wave the momentum is higher that it is at the top of the 5th wave even though the price is higher at the top 5th wave. This divergence in momentum and price is a strong signal that the major trend is shifting and a corrective trend will occur driving price in the opposite direction.
So my trading method is to look for hamonic patterns as price is completing a 5th or 3rd wave with a divergence in price and momentum. The great thing about harmonic patterns is they all have an objective entry point and targets, as well as a range where they must complete to be valid. If they go beyond this point they are invalid so this makes it really easy for us to objectively know where. to put our stop. Knowing all this info before you take the trade is very useful because before you ever put any money on a trade you know exactly what you are risking and exactly what your reward will be if your targets are hit. Different harmonic patterns have different risk:reward ratios and different odds of hitting their targets but generally harmonic patterns have a 70-80% chance of hitting your target rather than stop you out and the risk to reward is always better than 1:3. It is the perfect method for someone like me who wants to keep risk small and constant exploiting this edge. I will go into much more detail if I decide to make another thread devoted to this but in the mean time if you are interested look up harmonic pattern, Elliot wave theory and price/momentum divergence so you have a general idea of what I will be discussing. The only thing that is making me think twice about making such a thread is the inability to post pictures and videos, but i guess i could just link to them externally.
Good Luck everyone!!!!
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Quote Originally Posted by SFGiants93:
Where will you make that thread? On this baseball forum?
Probably General Discussion.. I will put a link in this thread :)
I mostly trade forex using some pattern recognition software that I wrote over the past few years. It identifies harmonic patterns, Fibonacci ratios and uses elliotwave theory to label major wave and minor fractal waves. According to Elliotwave theory price action can be down into waves made of 5 impulses and 3 impulses. With the 3 impulse waves being a correction or pullback of the initial 5 wave move. Identifying these waves allows traders to make a projection of probable future price It also quantifies the momentum of the price movement with the goal of identifying a divergence in price and momentum which occurs at the end of a major 5 or 3 wave sequence. For example a 5th wave is completing on a bullish move you will often notice if you look at the momentum at the top of the 4th wave the momentum is higher that it is at the top of the 5th wave even though the price is higher at the top 5th wave. This divergence in momentum and price is a strong signal that the major trend is shifting and a corrective trend will occur driving price in the opposite direction.
So my trading method is to look for hamonic patterns as price is completing a 5th or 3rd wave with a divergence in price and momentum. The great thing about harmonic patterns is they all have an objective entry point and targets, as well as a range where they must complete to be valid. If they go beyond this point they are invalid so this makes it really easy for us to objectively know where. to put our stop. Knowing all this info before you take the trade is very useful because before you ever put any money on a trade you know exactly what you are risking and exactly what your reward will be if your targets are hit. Different harmonic patterns have different risk:reward ratios and different odds of hitting their targets but generally harmonic patterns have a 70-80% chance of hitting your target rather than stop you out and the risk to reward is always better than 1:3. It is the perfect method for someone like me who wants to keep risk small and constant exploiting this edge. I will go into much more detail if I decide to make another thread devoted to this but in the mean time if you are interested look up harmonic pattern, Elliot wave theory and price/momentum divergence so you have a general idea of what I will be discussing. The only thing that is making me think twice about making such a thread is the inability to post pictures and videos, but i guess i could just link to them externally.
This is a good example of a 5 wave sequence with price/momentum divergence between the 3rd and 5th wave signalling an end to this major trend .. You would now expect a bullish move consisting of 3 major waves..
As you see below the major trend is broken down into 5 impulse waves and then 3 corrective waves and inside that are smaller fractal waves which are also broken into 5 and 3 waves. The market is fractal so this works on any time frame chart.
Harmonic patterns look like Ws or a bat and they are made of a series of Fibonacci ratio. They often occur at the end of an elliotwave sequence like in the picture below.
This is a good example of a 5 wave sequence with price/momentum divergence between the 3rd and 5th wave signalling an end to this major trend .. You would now expect a bullish move consisting of 3 major waves..
As you see below the major trend is broken down into 5 impulse waves and then 3 corrective waves and inside that are smaller fractal waves which are also broken into 5 and 3 waves. The market is fractal so this works on any time frame chart.
Harmonic patterns look like Ws or a bat and they are made of a series of Fibonacci ratio. They often occur at the end of an elliotwave sequence like in the picture below.
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