That's an interesting idea, I'll give it some thought.  In the meanwhile, these resources are invaluable.  I would give serious thought to reading this list.

Baby Pips is great as well - a good source to help people get grounded in the basics of speculative trading.

Hello everyone! Just went through the 31 pages lol ! Goomboo that’s a very interesting strategy you’re exposing. I’m totally new in the world of trading and bitcoins so I have many things to learn… I still have some simple questions maybe you’ll say that they are noobish but I can’t find clear answers and not even the same questions lol!

So first, on which sites are you trading? I’m currently on Mt. Gox but I’ve read on one of the first page that it’s better to have 2 accounts, one for short and one for long… How can you do that? I mean you have to buy when it’s going “up” and sell when it’s going “down”.

Do you have any other site you recommend?

Second question it’s more a market/trading thing…
If for example I want to sell my BTC, imagine now at the current buying price (atm 124$ 3 BTC available), if I sell 2 BTC, they’ll be sell immediately. But now if I want to sell 5 BTC I’ll sell 3 immediately and have to wait for someone to complete my offer? That’s it? But I’ll still have 3BTC available for trading.

I also wanted to thank you for this journal that is very helpful for me and it allows me to start trading with a strategy. I’ll of course study this strategy myself and change some settings. Could you tell us more about the turtle strategy? Or give us some links?

P.S.: sorry if my english is not that correct I'm french lol

Edit: for example use bitstamp/Mt. Gox but how would you do that?

Here's 1 year of performance of the system tested on the daily timeframe.  This chart demonstrates the growth of $1.00 if individuals had traded the system exactly as prescribed since May of 2012.  The chart below shows the profit in terms of percentage return.





- Disciplined followers should have earned a 1,700% return over the past year (if they had reinvested profits)
- It is very important to understand that the past is no guarantee of future performance - be skeptical of these results


The resounding lesson here is this: design a system, test the system, have the emotional discipline to trade the system.

In a market which tends to rise, on average, buy and hold will frequently outperform systematic trading.  The catch is that if BTC goes to $10, your buy and hold profit falls to 100% and your trading profit probably remains over 1000%.  I'd rather remain nimble and and defend my capital against the inherent risks of buy and hold.  Case in point - trade the S&P 500 for the past decade using buy and hold and the 10/21.  Buy and hold earned 5% (give or take a few) and trading earned 80% - different styles are rewarded in different market conditions.

It really boils down to your philosophy of the markets: are you an investor or trader?  Investors believe in a concept and invest in that concept (buy and hold).  Traders are after profit while maintaining the ability to live and fight another day (systematic/discretionary trading).

With a more nimble system (faster moving averages), you could catch that move.  The collapse and subsequent rebound happened too quickly for the 10/21 to grab it - interestingly enough, the trade immediately following the crash resulted in a 13% loss.

I'm trading daily - less noise, less commissions, longer holding periods.

Thank you goomboo, it's exactly what I was searching for
I've read the turtle system. And now I understand the market and limit order.
By the way the Bitcoin market isn't fluctuating this much this days...

Yes, you can easily beat a mechanical system by applying a little intelligence.  But that's the appeal here... You only need to know 2 simple rules (buy on cross up, sell on cross down) and follow them mechanically.

From this same page even