Bart Candles - What they are and how they occur - Don't become whalefood >:D

[altcoingamer]

I thought this article could be useful to those who keep hearing people in forums/telegram/media outlets using the term "Bart Pattern" in trading or know about it but not really sure what is causing it.  I was thinking of writing an article about this myself and try to explain what it means and what is going on, but I found this article in research of starting my own and I think this explains it far better than I ever could.  It's vital information to understanding how maybe your training as a retail trader is working against you and how you playing it safe on trades maybe making you whale food.

https://medium.com/@getgoodcrew/best-guide-to-trading-barts-you-will-ever-see-c4fb0db24ff



Once you read the explanation of how it works and why, you'll understand how easily this market is being manipulated.. just this morning you saw people looking to buy the market breakout and whales using that liquidity to open up shorts.  It's so hard to trade since every conventional form of trading you are taught will work against you.

[felixesteban]

It is a very informative article. Thanks for sharing. We need to learn to trade safely so we can keep ourselves away from whales.

[sugarchrisp]

Yeah, it's kind of insane the amount of manipulation that goes on.  Just looking at volume on 1 minute candles on bitfinex it's clear that there's massive amounts of attempted manipulation going on.  Nothing can really be done about it so you have to protect yourself.

[altcoingamer]

Yeah, it's kind of insane the amount of manipulation that goes on.  Just looking at volume on 1 minute candles on bitfinex it's clear that there's massive amounts of attempted manipulation going on.  Nothing can really be done about it so you have to protect yourself.

I think the important thing to really take out of all of this if nothing else is to remember that it "IS" being manipulated and manipulation happens all for a reason.. this isn't the end of bitcoin, nor is these last few months been a sign of people losing faith or leaving in droves.. people need to look at the big picture and not just the last candle.

[cryptothief]

Thanks for the link, that made interesting reading. I think someone already said that the liquidity levels in most coins make manipulation far too easy, and with the financial clout that institutions have, they can engineer much larger moves in the markets. Been 'whalefood' one too many times, completely wiped out my Bitmex funds in less than a week, and was hanging by a thread for most of it. Luckily not too much, but was a tough lesson to learn.

[altcoingamer]

Thanks for the link, that made interesting reading. I think someone already said that the liquidity levels in most coins make manipulation far too easy, and with the financial clout that institutions have, they can engineer much larger moves in the markets. Been 'whalefood' one too many times, completely wiped out my Bitmex funds in less than a week, and was hanging by a thread for most of it. Luckily not too much, but was a tough lesson to learn.

Yeah, as they say "that's the price for education... and education is expensive".  I made monumental mistakes in trading when starting, simply because I didn't understand the game I was playing.. over the past couple of years, things have started to make a lot more sense.   Someone said early on to me something I'll never forget... "Trade like you are a millionaire.. because if a millionaire doesn't do your strategy, it won't work".