RE: Haejinality vs. Reality (XVG Review)--Verge-- 76% LOSS in 2018
My bad saw it wrong, on the screen, deleted that part, good catch, regardless, it was the effect of a tremendous bull market, not the result of a guru making some miraculous call. There were numerous coins that made some ridiculous gains during this period.. actually nearly all of them.. That said had you of followed his other call, you would of given back .75 cents on every dollar you invested. Ergo point is still valid.. He can choose a winner as good as my magic eight ball during the bull market of the century, but pretty much sucks about as bad as one can in a corrective market.
Was he not calling for BTC to be 24k like 2 weeks ago? He is a scam, a marketeer, a dude that managed to start his bullshit selling business at exactly the right time and market sentiment across the board made all his calls come true and he is some sort of God.. yet when the market turns and you actually need skill... well.. his predictions go to shit..
I notice you failed to comment on the 75% loss part of his most recent call? Congrats on your earnings.. I killed it on Golem, Bitcoin Dark, and many many others.. thanks to the bull market.. It was great.. coins that did not even have a workable business model went right through the roof.. one after the other, after the other..
I just commented on that part of the post. One other thing that I saw wrong there was the time predictions. In TA, time is pretty much impossible to predict and he himself has said that multiple times. So just because .60 cent mark shows on December doesn't mean it should hit the target right at that time. And no..There wasn't a lot of coins that went up like 75x in like 2 weeks...There is nothing miraculous about that either. It's just chart reading. Other than that, I don't really have anything against the rest of your post. You've got some good points and before I say anything else, I want to say that I agree with most others here and don't think his posts deserve 400 a pop.
However...His calls are purely based on technical analysis and it doesn't mean that it's going to be right every single time. He calls what he thinks will happen based on TA and people do as they wish. He thought based on his indicators and past experience that it would go to 20k and it hasn't. That doesn't make him a scam artist at all. If someone puts all their money in those calls without doing any research whatsoever, then it's their stupidity. Also, 75% loss part is completely normal in a bear market since alt coins tend to lose more value compared to bitcoin.
His call for 20k was wrong and he updated accordingly. As a TA believer, I personally find his TA valuable as it gives me another perspective and a chance to buy dips on different coins that I don't really follow closely. On the side note, I also believe Verge and Tron will bring huge profits even though they are both shit coins. So I don't really care if it's down 75% atm when TA shows 680% profit potential during the next bull run. There were instances where I was down 60-70% and ended up making 10x-20x returns. As long as people know what the hell they are doing and don't invest more than they can afford to lose then I don't really see a problem here. Now my question to you.. Will you change this post and call him a genius if they hit those targets during the next bull run?
I understand that people are mad since he is getting such a big portion from the rewards pool and I would be too if i was using Steemit for that purpose. However, all this hate doesn't really make sense to me. If you had any knowledge on Elliot Wave principle, I don't think you'd be calling it a scam. Again, the key is to do your own research and not invest like an idiot. As long as people do that, I think there is a lot of value in what he shares. Instead of hating like this, you should focus more on solving the reward pool problem because that's what's causing this whole issue. All this hate creates nothing but drama and solves nothing.
I agree with you points, and apologize for taking an aggressive tone in my first response.. That said, I have been at this game for a "long while".. and his understanding of Elliot wave is grossly in error the majority of the time. Hell, I will even put my money where my mouth is as I strongly believe in TA myself, as a practitioner..
If you ever have time, go through my reports and compare my calls to his. I will put 10 SBD on the line that I out perform him by several orders of magnitude on BTC, LTC, ETC etc.
I think in one of my more recent posts, I stated that I disagreed with his placement of axis in the descending wedge and redrew them accordingly. Where he felt we were in the channel I stated we were not and were being rejected after falling through the bottom..
Part of it is here: https://steemit.com/bitcoin/@pawsdog/1-31-2017-the-market-view-and-trading-outlook-actual-info
Here is another: https://steemit.com/bitcoin/@pawsdog/2-2-2018-the-market-view-and-trading-outlook
If we want to compare TA accuracy I will go head to head with him any day..
As someone whom has done this for a decade on the professional level and holds licenses related to the trade. I found his inability to accurately depict the simple most likely upper and lower boundary of a descending wedge to be somewhat egregious. That is in many respects very basic stuff based on experience and the rule set.
He suggests the bottom could be in, and then it drops 60% - Bad TA
Explosion imminent and it drops 50% - bad TA
Posting alt suggestions during a massive correction of BTC = useless, only point of this is so he can make 50k+ a month on his posts