Bitcoin Forum

ok so we lost some of that ground, started about low 120s then got to 166 (interstingly at 266 was the last big drop off?!?)now at 155-150

four steps forward one step back not to bad if you ask me. week hands shake down and on we go a little stronger each time.

now we got to get past that 200 psychological barrier.

Just let the market take it's course and react accordingly.

What goes up must come down and what comes down must go up.

People seem to change their opinions each 12 hours.

I swear.

Expect some dips, expect some rises, and expect that you can't really expect anything.

Be patient.

React.

indeed, agreed  :)

I made a little profit today by selling at $160, but I'm not really a good daytrader because I bought back in at $155 already. I just play too much on the safe side and am afraid to miss the boat even though my intuition is usually correct. Still the call to sell was good, just have to have the balls to set lower bid orders during the next correction. :)

what i do: look at history graph look for a similar situation..  .; see how much a correction falls last time.. ..   and put your bid just a bit higher ..

Its better to be safe rather than missing the boat to try to squeeze an extra 0.6 BTC or the like out of volatility.

I did that alot during last years continoues rise. It mostly didnt work, because Bitcoin just didnt want to go down!
So I missed the boat a couple of times and ma, had I just kept the initial amount I bought at first I would so much more Bitcoin in my wallet right now, its ridiculous (and thats probably mispspelled!).

So right now I just hold on to my coins, dont mind those little dips and try to sell on the top or dead cat bounce of this bubble's next top because I know it will go up till the next bubble bursts, then head down for a while.
Thats what I call playing "safe" right now, because this market is just too unpredictable to make a steady profit otherwise.

+1 this. "Day trading" off the volatility is intelligent gambling at best. For every person whose "gut was right" and made money there's someone who got it wrong. And even though the winners will disagree, it was all just mostly luck riding the random walk.

If you believe in bitcoin, then just hold into your coins. And to lock in profits just selling into the strength from time to time.

+1
I came to the same conclusion.
(after 2 trades though ;p)

It's not that difficult to increase your fiat amount a bit, but you will likely miss out even more due to the constant rise of Bitcoins in the long run.

Of course there is 'luck' with Day Trading, however even a noob can be right 51% of the time just by looking at the supply curve and thus have an "advantage." Thats why the real "advantage" is not deciding when to "sell" and "short" bitcoins, but in deciding when -NOT- to sell because you won't have enough time to stare at the price for the next 2 hours, and in deciding when you are in the 49% wrong zone to get back in to bitcoin and when you are in the 51% right to not get all your profit eaten by MtGox commission.