Bitcoin Forum

Economy => Speculation => Topic started by: saddambitcoin on November 22, 2013, 04:38:49 PM



Title: sold at $600. what to do?
Post by: saddambitcoin on November 22, 2013, 04:38:49 PM
i freaked out and sold a large portion of my coins around $600, suspecting the price would continue to oscillate between $400-700 for a couple weeks... (i know)

do I

A) wait it out hoping for a better price to get back in
B) take a loss and buy back in at $750
C) ??

thanks guys


Title: Re: sold at $600. what to do?
Post by: exstasie on November 22, 2013, 04:40:36 PM
I suspect that BTC is going to crash again sometime in the near future, but have no idea if its going to be lower than $600. I imagine that it will, but who knows these days.


Title: Re: sold at $600. what to do?
Post by: Rampion on November 22, 2013, 04:44:39 PM
i freaked out and sold a large portion of my coins around $600, suspecting the price would continue to oscillate between $400-700 for a couple weeks... (i know)

do I

A) wait it out hoping for a better price to get back in
B) take a loss and buy back in at $750
C) ??

thanks guys

Buy back everything and have some fresh fiat ready in case it flash-crashes so you can make up the loss by buying more.

Just sell little by little in the future. Selling BTC is risky in itself - selling a large portion of one's stash is just reckless unless you've made so much profit you'll never need to worry about money ever again.


Title: Re: sold at $600. what to do?
Post by: Littleshop on November 22, 2013, 04:46:11 PM
If big queen topped out at $750 for the next few months and you got $600 not done badly.  It is very hard to call a top in a wildly fluctuating market like Bitcoin.


If you think big coin is going to continue to rise you should try to buy coins back at one of the sites that is undervalued. Camp BX and BTC E can fluctuate by $100 in one day.  You may be to get those coins back pretty much for what you sold them at for a little while at least.


Title: Re: sold at $600. what to do?
Post by: notme on November 22, 2013, 04:46:37 PM
1. Never sell everything at once.
2. Never buy all at once.

Since you've already violated 1, take your USD and divide it into 20 or so chunks.  Then, buy the same amount of USD worth in BTC every day until you are back in.  If prices dips, you will get a good average price.  If price rises, you won't get as many BTC, but you will at least get some.


Title: Re: sold at $600. what to do?
Post by: Okurkabinladin on November 22, 2013, 04:46:45 PM
I am going to quote another user on this board. "Buying now is like fucking hooker without condom."  ;) Tomorrow Bitcoin can be worth 1500 or 250, youd be gambling.

Seasoned users like Chodpaba or Rpiteila already stated, that growth of bitcoin recently passed exponential curve, hell right now, market swallows 2,5 million dollars daily just to keep itself from deflating. Id wait for the crash.


Title: Re: sold at $600. what to do?
Post by: rocks on November 22, 2013, 04:47:50 PM
You can either:

1) Buy back right now at a ~20% loss, but roughly have your original position intact (just slightly reduced) or

2) Wait it out and risk that the price then rises and never returns causing you to lose out on the multi-year ramp up. If the price drops you can get your original position with no loss, but if the price rises you've lost out on the early adopter benefits

The choice is yours


Title: Re: sold at $600. what to do?
Post by: adamstgBit on November 22, 2013, 04:49:02 PM
do what i do.

wait.

if you get run over by the market

be rich!


Title: Re: sold at $600. what to do?
Post by: Nemesis on November 22, 2013, 04:49:23 PM
C) Join the Bears club lead by Blitz and spread BS to scare the noobs....... Also pretend to use TA so they think you're pro trader. And crash is always coming. Say something like .... "i expect under $400 soon"  or " we're not gonna see $600 untill 2015". Oh and just ignore anyone says otherwise.


Title: Re: sold at $600. what to do?
Post by: TheNewAnon135246 on November 22, 2013, 04:50:11 PM
I suspect that BTC is going to crash again sometime in the near future, but have no idea if its going to be lower than $600. I imagine that it will, but who knows these days.

I am hoping for this. Was planning on buying a few more coins if the price drops.


Title: Re: sold at $600. what to do?
Post by: chriswilmer on November 22, 2013, 04:52:24 PM
C) Join the Bears club lead by Blitz and spread BS to scare the noobs....... Also pretend to use TA so they think you're pro trader. And crash is always coming. Say something like .... "i expect under $400 soon"  or " we're not gonna see $600 untill 2015". Oh and just ignore anyone says otherwise.


LOL


Title: Re: sold at $600. what to do?
Post by: Nemesis on November 22, 2013, 04:58:22 PM
C) Join the Bears club lead by Blitz and spread BS to scare the noobs....... Also pretend to use TA so they think you're pro trader. And crash is always coming. Say something like .... "i expect under $400 soon"  or " we're not gonna see $600 untill 2015". Oh and just ignore anyone says otherwise.


LOL

There are tons of "pro traders" who turn into bears because they "cashed out" at 200s, then 300s, then 400s....They either left .... then come back to a correction or flash crash and chant " crash crash, bubble pop" or  never come back. Samson, where art thou?

You get the idea.

ps, when anyone ask, they will say " hell yeah, my strategy works out better than buy and hold. I'm pro so..."



Title: Re: sold at $600. what to do?
Post by: chriswilmer on November 22, 2013, 05:00:06 PM
C) Join the Bears club lead by Blitz and spread BS to scare the noobs....... Also pretend to use TA so they think you're pro trader. And crash is always coming. Say something like .... "i expect under $400 soon"  or " we're not gonna see $600 untill 2015". Oh and just ignore anyone says otherwise.


LOL

There are tons of "pro traders" who turn into bears because they "cashed out" at 200s, then 300s, then 400s....They either left .... then come back to a correction or flash crash and chant " crash crash, bubble pop" or  never come back. Samson, where art thou?

You get the idea.

ps, when anyone ask, they will say " hell yeah, my strategy works out better than buy and hold. I'm pro so..."



Yeah, and it is REALLY HARD to beat the "buy & hold" strategy. I mean seriously, if you aren't satisfied with 1000% growth per year, there's little in life that will make you happy :)


Title: Re: sold at $600. what to do?
Post by: C10H15N on November 22, 2013, 05:01:25 PM
It will go up, then down, then back up.... wash, rinse repeat.  If you follow the heard, you are going to get slaughtered.  


Title: Re: sold at $600. what to do?
Post by: Ibian on November 22, 2013, 05:06:30 PM
Curse your own cowardice/stupidity/lack of understanding/foresight, then buy as much as you can afford. Not afford to lose, but actually afford and still pay the rent and food.


Title: Re: sold at $600. what to do?
Post by: sumantso on November 22, 2013, 05:09:11 PM
I think it will see low $500s (gox price) in the near future. Of course, predictions may never come to fruition.

1. Never sell everything at once.
2. Never buy all at once.

Since you've already violated 1, take your USD and divide it into 20 or so chunks.  Then, buy the same amount of USD worth in BTC every day until you are back in.  If prices dips, you will get a good average price.  If price rises, you won't get as many BTC, but you will at least get some.

A very good strategy actually.

I would do something similar - break my money into 3-4 parts. Buy some now, put some at the break even price and keep a few far below. Once you have done that, be patient and don't tinker. It may take even months for the price to come down. If it doesn't, well, the few you ended up buying will be worth a lot more.


Title: Re: sold at $600. what to do?
Post by: Ibian on November 22, 2013, 05:14:56 PM
I think it will see low $500s (gox price) in the near future. Of course, predictions may never come to fruition.

1. Never sell everything at once.
2. Never buy all at once.

Since you've already violated 1, take your USD and divide it into 20 or so chunks.  Then, buy the same amount of USD worth in BTC every day until you are back in.  If prices dips, you will get a good average price.  If price rises, you won't get as many BTC, but you will at least get some.

A very good strategy actually.

I would do something similar - break my money into 3-4 parts. Buy some now, put some at the break even price and keep a few far below. Once you have done that, be patient and don't tinker. It may take even months for the price to come down. If it doesn't, well, the few you ended up buying will be worth a lot more.
It may be that the price never comes down as low as you want it to go - and that if it does, you will chicken out thinking the whole thing is falling apart. Buy & hold.


Title: Re: sold at $600. what to do?
Post by: GhanaGamboy on November 22, 2013, 05:22:03 PM
Wait and see. You can decide later, but corrections are necessary on the way up so still good chance you rebuy lower


Title: Re: sold at $600. what to do?
Post by: alexeft on November 22, 2013, 05:27:23 PM
C) Join the Bears club lead by Blitz and spread BS to scare the noobs....... Also pretend to use TA so they think you're pro trader. And crash is always coming. Say something like .... "i expect under $400 soon"  or " we're not gonna see $600 untill 2015". Oh and just ignore anyone says otherwise.


LOL

There are tons of "pro traders" who turn into bears because they "cashed out" at 200s, then 300s, then 400s....They either left .... then come back to a correction or flash crash and chant " crash crash, bubble pop" or  never come back. Samson, where art thou?

You get the idea.

ps, when anyone ask, they will say " hell yeah, my strategy works out better than buy and hold. I'm pro so..."



Yeah, and it is REALLY HARD to beat the "buy & hold" strategy. I mean seriously, if you aren't satisfied with 1000% growth per year, there's little in life that will make you happy :)


This!!!


Title: Re: sold at $600. what to do?
Post by: raskolnikovx on November 22, 2013, 05:31:26 PM
I sold 20% of my BTCs yesterday at 680 USD in BTCe. Now is 688 and going up but I will wait for it.
I think it will crash again and I will be able to buy cheaper on BTCe, then move to Bitstamp and resell.
We will see ...


Title: Re: sold at $600. what to do?
Post by: John999 on November 22, 2013, 05:33:41 PM
Sell low/ buy high is a common mistake. Wait, we will see a pullback one way or the other.


Title: Re: sold at $600. what to do?
Post by: proudhon on November 22, 2013, 05:34:19 PM
i freaked out and sold a large portion of my coins around $600, suspecting the price would continue to oscillate between $400-700 for a couple weeks... (i know)

do I

A) wait it out hoping for a better price to get back in
B) take a loss and buy back in at $750
C) ??

thanks guys

Where do you think bitcoin will be in 2 years?


Title: Re: sold at $600. what to do?
Post by: trumbadera on November 22, 2013, 05:39:40 PM
Sell low/ buy high is a common mistake. Wait, we will see a pullback one way or the other.

Unless you just buy and spend immediatelly, but without SR not best idea


Title: Re: sold at $600. what to do?
Post by: GriTBitS on November 22, 2013, 05:56:34 PM
BUY BACK IN!!!!!!!!!!!!!!!!!!!!! We are still in a Daily and Weekly uptrend,,, just because there was a day of traders and I mean traders taking profits. Not people that don't do this every day of their life! Consider down days in an uptrend as a buying opportunity. The day candle didn't even close below the 8EMA you had more of a sell signal on Oct 26th. Not to forget we are in a huge bull market right now... You have to be crazy to be short. You're better off watching it go low and waiting to buy more or to buy back in. Otherwise you do what all ppl does get scared puke up your coins or shares at the low only to create the supply that the demand has been sitting there waiting for. 10 min later you are trying to figure out why it's going up now... Market must be rigged... No its called Fear and Greed. You should have bought back in right after it hit 600 again. Now you sit and think to yourself. But if I buy now, I wont have as many coins as before!!! But if you don't buy now you are going to watch the boat sail away!!!!!


Title: Re: sold at $600. what to do?
Post by: Adrian-x on November 22, 2013, 06:09:32 PM
i freaked out and sold a large portion of my coins around $600, suspecting the price would continue to oscillate between $400-700 for a couple weeks... (i know)

do I

A) wait it out hoping for a better price to get back in
B) take a loss and buy back in at $750
C) ??

thanks guys

Buy back everything and have some fresh fiat ready in case it flash-crashes so you can make up the loss by buying more.

Just sell little by little in the future. Selling BTC is risky in itself - selling a large portion of one's stash is just reckless unless you've made so much profit you'll never need to worry about money ever again.

Good advice take the knock on the chin, chalk it up to experience and get on the train.


Title: Re: sold at $600. what to do?
Post by: davider on November 22, 2013, 06:16:03 PM
If it can make you feel better, I sold at 500$.
I'll wait few days to see what happens.

After many many lessons in the last few months I completely agree that the buy and hold is the best strategy for bitcoin!
And also the never sell everything at one rule is pure gold.

Thanks everybody for the good advices.



Title: Re: sold at $600. what to do?
Post by: Mirsad on November 22, 2013, 06:17:08 PM
Best advice:
Never follow advise like "Buy back IN NOW!!!" -> most of the time it's a bulltrap and you could just have waited and bought more coins.


Title: Re: sold at $600. what to do?
Post by: bassclef on November 22, 2013, 06:23:16 PM
There is no good answer. This is why most day traders don't come out with profit, or a bigger coin stash.


Title: Re: sold at $600. what to do?
Post by: windjc on November 22, 2013, 06:25:17 PM
Best advice:
Never follow advise like "Buy back IN NOW!!!" -> most of the time it's a bulltrap and you could just have waited and bought more coins.

This is flat out simply HORRIBLE advice. Do not listen to it.  Sure we could go back down. But there is a very good chance that if we leave where we are today and go up we will never see this price again. This forum is littered with dozens of people who have made this mistake. We just had a 50% correction. This is not the time to sell.


Title: Re: sold at $600. what to do?
Post by: adamstgBit on November 22, 2013, 06:27:14 PM
i freaked out and sold a large portion of my coins around $600, suspecting the price would continue to oscillate between $400-700 for a couple weeks... (i know)

do I

A) wait it out hoping for a better price to get back in
B) take a loss and buy back in at $750
C) ??

thanks guys

Where do you think bitcoin will be in 2 years?

everywhere


Title: Re: sold at $600. what to do?
Post by: Mirsad on November 22, 2013, 06:28:10 PM
Of course it's not the time to sell, but also not to buy back.

If it's going to the moon, does it really matters if he bought the coins @ 760 or 850$ ?
No, it doesn't.

You all "believe" in bitcoin, so you are not for the short term profit -> doesn't really matter when you buy


But why take the risk in such a situation? It looks like a double top in all other exchanges then bitstamp.


Title: Re: sold at $600. what to do?
Post by: sumantso on November 22, 2013, 06:29:36 PM
I bet after reading through the thread the OP will be none the more wiser ;D


Title: Re: sold at $600. what to do?
Post by: adamstgBit on November 22, 2013, 06:31:26 PM
I bet after reading through the thread the OP will be none the more wiser ;D

no but everyone seem to be getting it right.

HOLD! your position.

whats the worst that can happen....


Title: Re: sold at $600. what to do?
Post by: Coinseeker on November 22, 2013, 06:31:40 PM
We're coming up on a weekend.  Traditionally, we see some dips on the weekend.  Wasn't the case last weekend though.   ;D  Might want to just prepare to start buying back slowly but anticipate a drop over the weekend.  If it drops significantly, you can dollar cost average out the buys you made at $750+. If it doesn't drop, at least you still have coins.  Good luck brother.


Title: Re: sold at $600. what to do?
Post by: bumpk1nK on November 22, 2013, 06:34:15 PM
Before you decide what to do, place buy orders under $600, you never know when bear trap comes  :)


Title: Re: sold at $600. what to do?
Post by: GriTBitS on November 22, 2013, 06:46:17 PM
Best advice:
Never follow advise like "Buy back IN NOW!!!" -> most of the time it's a bulltrap and you could just have waited and bought more coins.

This is flat out simply HORRIBLE advice. Do not listen to it.  Sure we could go back down. But there is a very good chance that if we leave where we are today and go up we will never see this price again. This forum is littered with dozens of people who have made this mistake. We just had a 50% correction. This is not the time to sell.


Thanks bro!


Title: Re: sold at $600. what to do?
Post by: Ibian on November 22, 2013, 07:03:38 PM
It's mere days ago that the price was in the 500s. I bought a few coins at 700, being new and not thinking about rises and falls. We are at 740 now (average, stamp being higher). Buy & hold. That is the answer. Doesn't matter if the price dips lower than your buy price for a week or a month, it WILL go up again. Always does. Last time it took half a year. Doesn't matter, we are 3 times higher than the ATH at the time.


Title: Re: sold at $600. what to do?
Post by: UnDerDoG81 on November 22, 2013, 07:10:11 PM
Same problem here. Im not sure to buy now or wait till (if it ever again) drops. The course seems stable and does not rise wild like in the last 2 weeks.


Title: Re: sold at $600. what to do?
Post by: zeraTunerse on November 22, 2013, 07:12:04 PM
It is the problem when you trading coins, you have to accept a loss sometimes...


Title: Re: sold at $600. what to do?
Post by: Rampion on November 22, 2013, 07:20:08 PM
This thread is quite bullish. Panic buying is in the air :D


Title: Re: sold at $600. what to do?
Post by: Adrian-x on November 22, 2013, 07:24:30 PM
Best advice:
Never follow advise like "Buy back IN NOW!!!" -> most of the time it's a bulltrap and you could just have waited and bought more coins.
Also good advice,
Although
I'm still wafting on the $13 coins I sold in January.


Title: Re: sold at $600. what to do?
Post by: noob2001 on November 22, 2013, 07:25:50 PM
punch yourself in the head, and buy


Title: Re: sold at $600. what to do?
Post by: UnDerDoG81 on November 22, 2013, 07:26:58 PM
Litecoin went up from 4$ to 9$ on Nov. 18th. Maybe that was the better choice  :)


Title: Re: sold at $600. what to do?
Post by: Ibian on November 22, 2013, 07:28:29 PM
Litecoin went up from 4$ to 9$ on Nov. 18th. Maybe that was the better choice  :)
Not convinced until I see a year+ graph.


Title: Re: sold at $600. what to do?
Post by: notme on November 22, 2013, 07:29:14 PM
Litecoin went up from 4$ to 9$ on Nov. 18th. Maybe that was the better choice  :)
Not convinced until I see a year+ graph.

http://www.ltc-charts.com/
http://www.cryptocoincharts.info/


Title: Re: sold at $600. what to do?
Post by: romerun on November 22, 2013, 07:29:22 PM
no big deal, buy back bro, could be the last time we see 3 digits price

Well, about litecoin, it shouldn't be bench marked against USD, but btc, any investment in cryptcoins has to value against BTC


Title: Re: sold at $600. what to do?
Post by: jzcjca00 on November 22, 2013, 07:38:15 PM
You have two options.  If you buy in now, you might not get the best price.  However, if you wait for a better price, you might never get back in.

I would probably set multiple limit buy orders, perhaps at 5%, 15%, and 25% below the current price.  The next flash crash could easily get down below $600.  

If you can get the fiat quickly to a cheaper exchange, definitely buy there.  However, if you sold on Gox, you'll have to buy back in at Gox prices.  You could miss a lot of run up waiting for an international wire.

"Buy and hold" is the safest strategy in a rapidly rising market.


Title: Re: sold at $600. what to do?
Post by: emanymton on November 22, 2013, 07:40:26 PM
Look at the history and make up your mind for yourself. TA or tea leaves it doesn't really matter.
Understand that everybody on here has an agenda of their own and don't put your faith in anonymous people on a board.
Most of all don't invest more than you can afford to lose.


Title: Re: sold at $600. what to do?
Post by: Xenoph0bia on November 22, 2013, 07:41:04 PM
Im sure given the attention Bitcoin got lately, it is much more likely to rise big than stay under $1000


Title: Re: sold at $600. what to do?
Post by: crazy_rabbit on November 22, 2013, 07:41:23 PM
Litecoin went up from 4$ to 9$ on Nov. 18th. Maybe that was the better choice  :)

Yeah but for the past few weeks Bitcoin has gone up far much more then that. I know Litecoin is tempting, but it hasn't really gone up much against bitcoin at all. 0.0009 to 0.0014 at the most, I'm not so impressed. Bitcoin has been going up much faster in comparison.

If perhaps you could have timed it perfectly, then yes it would have been a great deal. But like always. It's gambling at best.
 


Title: Re: sold at $600. what to do?
Post by: Coinseeker on November 22, 2013, 07:43:48 PM
Litecoin went up from 4$ to 9$ on Nov. 18th. Maybe that was the better choice  :)

Yeah but for the past few weeks Bitcoin has gone up far much more then that. I know Litecoin is tempting, but it hasn't really gone up much against bitcoin at all. 0.0009 to 0.0014 at the most, I'm not so impressed. Bitcoin has been going up much faster in comparison.

If perhaps you could have timed it perfectly, then yes it would have been a great deal. But like always. It's gambling at best.
 

That's true.  I was lucky, made money while it was climbing but it failed to break $10, while BTC just kept going.


Title: Re: sold at $600. what to do?
Post by: jzcjca00 on November 22, 2013, 07:48:57 PM
This thread is quite bullish. Panic buying is in the air :D

With the number of recent articles, plus Google Trends now saying searches for the term "Bitcoin" are at an all-time high, panic buying cannot be far behind.  These newcomers will buy in a panic at each new ATH, then dump it all in a panic after the first major correction.  I almost feel sorry for them, but not quite.

We hit an ATH on Bitstamp this morning, but we're not there yet on the other major exchanges, so this is not a terrible place for OP to buy back in.


Title: Re: sold at $600. what to do?
Post by: bitmarket.io on November 22, 2013, 07:50:24 PM
i freaked out and sold a large portion of my coins around $600, suspecting the price would continue to oscillate between $400-700 for a couple weeks... (i know)

do I

A) wait it out hoping for a better price to get back in
B) take a loss and buy back in at $750
C) ??

thanks guys

I just purchased 50 @ 770.  I sold at 630. Here's why I bought:

  • People are eager to see it at 1K+
  • Lots of money moved a couple days ago, the price fell like a domino effect but it bounced back after it dropped $250, then people started buying like crazy again, boosting it back up.  This tells me it's stabilizing and it won't just die in one day, and the worst I could lose is 30% of my investment if things got really bad.
  • It's also the end of the FISCAL year for lots of businesses and tax time is about.  I wonder how tempted people will be to test the IRS now that so many know about BTC.
  • If gold can hit $2K+, so can BTC. Esp. now that so many are selling precious metals for BTC. You can also see the price of those metals continuously drop.
  • It's approaching holiday season December and lots of money will be moving globally


Title: Re: sold at $600. what to do?
Post by: firstlast on November 22, 2013, 07:53:17 PM
Take that fiat you now have and buy yourself a trip to space. You'll forget about all this selling low buying higher nonsense.


Title: Re: sold at $600. what to do?
Post by: UnDerDoG81 on November 22, 2013, 07:59:26 PM
Litecoin went up from 4$ to 9$ on Nov. 18th. Maybe that was the better choice  :)

Yeah but for the past few weeks Bitcoin has gone up far much more then that. I know Litecoin is tempting, but it hasn't really gone up much against bitcoin at all. 0.0009 to 0.0014 at the most, I'm not so impressed. Bitcoin has been going up much faster in comparison.

If perhaps you could have timed it perfectly, then yes it would have been a great deal. But like always. It's gambling at best.
 

Well, I have taken a look to litecoins 10 mins ago the first time. It was just an comment. I dont know Litecoins but all I said was, if you bought LTCs for 4$ you would have doubled your money. But as it always is, you never know what will happen in future. Of course you are right.

The BTC price is too stable at the moment. I dont know if this is the silence before the storm or if the price has stabled and will keep on this level for a couple of months (like in april). But I dont feel comfortable to buy in at 760$ where I missed the 500$ 2 days ago :/


Title: Re: sold at $600. what to do?
Post by: digitalfog on November 22, 2013, 08:09:14 PM
I don't think the Bitcoin naysayers understand the massive financial/currency/asset markets that exist *now. 

In real terms, Bitcoin has not even dipped its tiny toe into the global financial pool.  When it does, you'll be
kicking yourself at how cheap $600 per Bitcoin was.  Bitcoin will probably be trading as mBTC and one millibitcoin
will be worth $100.00.



   




Title: Re: sold at $600. what to do?
Post by: John999 on November 22, 2013, 08:21:17 PM
Look at the history and make up your mind for yourself. TA or tea leaves it doesn't really matter.
Understand that everybody on here has an agenda of their own and don't put your faith in anonymous people on a board.
Most of all don't invest more than you can afford to lose.


Wise words.


Title: Re: sold at $600. what to do?
Post by: mvidetto on November 22, 2013, 08:25:22 PM
It just seems like with all of the people waiting on the sidelines a major dump could punch a big dip into the price.  One 10k dump and all of the fear will hit the market.


Title: Re: sold at $600. what to do?
Post by: Adrian-x on November 22, 2013, 08:28:26 PM
Look at the history and make up your mind for yourself. TA or tea leaves it doesn't really matter.
Understand that everybody on here has an agenda of their own and don't put your faith in anonymous people on a board.
Most of all don't invest more than you can afford to lose.

The best advice so far.

I'd not emphasize the history though. Look to the future.


Title: Re: sold at $600. what to do?
Post by: Fernandez on November 22, 2013, 08:33:09 PM
Put on a tutu and do a bear dance.


Title: Re: sold at $600. what to do?
Post by: adamstgBit on November 22, 2013, 08:34:29 PM
worst case scenario we paint a cup and handle.

buy with me at the bottom of the cup

don't worry i will be yelling loud and clear when its time to buy.


Title: Re: sold at $600. what to do?
Post by: Coinseeker on November 22, 2013, 08:40:49 PM
I don't think the Bitcoin naysayers understand the massive financial/currency/asset markets that exist *now.  

In real terms, Bitcoin has not even dipped its tiny toe into the global financial pool.  When it does, you'll be
kicking yourself at how cheap $600 per Bitcoin was.  Bitcoin will probably be trading as mBTC and one millibitcoin
will be worth $100.00.

In the past I would have called a comment like this delusional.  Now, I'm wondering why you're lowballing my BTC value.   ;D


Title: Re: sold at $600. what to do?
Post by: adamstgBit on November 22, 2013, 08:43:50 PM
I don't think the Bitcoin naysayers understand the massive financial/currency/asset markets that exist *now. 

In real terms, Bitcoin has not even dipped its tiny toe into the global financial pool.  When it does, you'll be
kicking yourself at how cheap $600 per Bitcoin was.  Bitcoin will probably be trading as mBTC and one millibitcoin
will be worth $100.00.


we all know this, this is what makes it hard to sell the tiniest amounts of bitcoin even after a 1000% jump


Title: Re: sold at $600. what to do?
Post by: Rampion on November 22, 2013, 08:45:01 PM
I don't think the Bitcoin naysayers understand the massive financial/currency/asset markets that exist *now.  

In real terms, Bitcoin has not even dipped its tiny toe into the global financial pool.  When it does, you'll be
kicking yourself at how cheap $600 per Bitcoin was.  Bitcoin will probably be trading as mBTC and one millibitcoin
will be worth $100.00.

In the past I would have called a comment like this delusional.  Now, I'm wondering why you're lowballing my BTC value.   ;D

You are slow man, it really took you a looong time to understand. No offense intended, but the enormous potential of BTC was like the third thing (after decentralized + trustless) that got my attention. That happened like in the first 10 minutes of reading about it :D :D :D


Title: Re: sold at $600. what to do?
Post by: glendall on November 22, 2013, 08:57:22 PM
Selling at 600 isn't that bad at all !

I sold most of mine around 230 I think it was, didn't see this bubble happening. 

Be happy you got out at 600, it's been 500-550 so hey it's easy to get make in and you made 10%+ profit.


Title: Re: sold at $600. what to do?
Post by: Coinseeker on November 22, 2013, 08:59:28 PM

You are slow man, it really took you a looong time to understand. No offense intended, but the enormous potential of BTC was like the third thing (after decentralized + trustless) that got my attention. That happened like in the first 10 minutes of reading about it :D :D :D

Better late than never, huh?   ;D  Nothing like $900 BTC values to open ones eyes.   ;)

Truth is, I didn't really know enough at that time to grasp it all.  I had no idea about our monetary system, I had no idea why decentralized even mattered so, it really became a battle against ideology and not the tech.  As I've learned Ripple, I've learned more about the whole crypto-space.  I've learned tons about our failing global monetary system, what the bills in my wallet really are and the list goes on.  From that I realize that this is all really important.  Whether it will be Bitcoin or something like it, the truth is we have to do something.  

The straw for me was I watched a video of Erik Voorhees talking about Bitcoin and during a Q&A at the end, I come to find that he's a Democrat, not a Libertarian.  Now I'm not a Democrat but it really changed my perspective on the whole Bitcoin thing. Without the political crap, Bitcoin is much more appealing to me.  Probably shouldn't have judged all of Bitcoin, on a handful of random forum avatars.   :-\   Oh well, I was at least smart enough to keep some BTC close at hand, just in case I was wrong.   :o


Title: Re: sold at $600. what to do?
Post by: windjc on November 22, 2013, 08:59:53 PM
Of course it's not the time to sell, but also not to buy back.

If it's going to the moon, does it really matters if he bought the coins @ 760 or 850$ ?
No, it doesn't.

You all "believe" in bitcoin, so you are not for the short term profit -> doesn't really matter when you buy


But why take the risk in such a situation? It looks like a double top in all other exchanges then bitstamp.

No it doesn't. You obviously dont know how to read charts. Nor do you know what happened in March.


Title: Re: sold at $600. what to do?
Post by: bitmarket.io on November 22, 2013, 09:07:19 PM
@OP When I make an investment I assume that money is forever gone. Reduced to zero. And I try to forget it and work on collecting more money going forward, occasionally peaking taking a peak at the growth of my investment. This helps. Temptation is a bitch. And when it gets ahold of you and you sell, you're gonna regret it.


Title: Re: sold at $600. what to do?
Post by: Ibian on November 22, 2013, 09:07:41 PM
Selling at 600 isn't that bad at all !

I sold most of mine around 230 I think it was, didn't see this bubble happening. 

Be happy you got out at 600, it's been 500-550 so hey it's easy to get make in and you made 10%+ profit.
Stop calling it a bubble :/ Years from now it will be clear that the blackboard guy was right all along. We are in the very early stages of an s-curve. There is no bubble, only a steep rise and then a plateau ahead.


Title: Re: sold at $600. what to do?
Post by: CryptStorm on November 22, 2013, 09:16:54 PM
Selling at 600 isn't that bad at all !

I sold most of mine around 230 I think it was, didn't see this bubble happening.  

Be happy you got out at 600, it's been 500-550 so hey it's easy to get make in and you made 10%+ profit.
Stop calling it a bubble :/ Years from now it will be clear that the blackboard guy was right all along. We are in the very early stages of an s-curve. There is no bubble, only a steep rise and then a plateau ahead.

I'm in the same boat with the OP, so here's where I am with it:

IF the price attacks that $778 Gox resistance point and cracks through, I will buy back in, and likely it will charge forward due to momentum (to 1k or more, who knows).

However, I don't see where the momentum is going to come from? Just the facts across distinct categories:
1) The news storm is drying up and everyone is back to (t)werk; (COMPOSITE DATA)
2) We are way ahead of the trend line (no matter how you slice it); here's one reasonable way--
    --the 1 day chart shows Parabolic SARs are pushing us back down hard (PRICE DATA);
4) The ARMS Ease of Movement is heading back towards zero very quickly (above is bull, below bear) (VOLUME DATA);
5) Volatility is decreasing as we normalize (downwards-- and for the moment, gently) (VOLATILITY DATA)
6) The Senate hearing has clearly been priced in (perhaps this is more composite data, perhaps a BUSINESS FUNDAMENTAL (it's legal))

So, there you are. Set a bitcoinreminder for 790 and one for 600, and 500 and wait.  :)


Title: Re: sold at $600. what to do?
Post by: Ibian on November 22, 2013, 09:26:47 PM
Selling at 600 isn't that bad at all !

I sold most of mine around 230 I think it was, didn't see this bubble happening.  

Be happy you got out at 600, it's been 500-550 so hey it's easy to get make in and you made 10%+ profit.
Stop calling it a bubble :/ Years from now it will be clear that the blackboard guy was right all along. We are in the very early stages of an s-curve. There is no bubble, only a steep rise and then a plateau ahead.

I'm in the same boat with the OP, so here's where I am with it:

IF the price attacks that $778 Gox resistance point and cracks through, I will buy back in, and likely it will charge forward due to momentum (to 1k or more, who knows).

However, I don't see where the momentum is going to come from? Just the facts across distinct categories:
1) The news storm is drying up and everyone is back to (t)werk; (COMPOSITE DATA)
2) We are way ahead of the trend line (no matter how you slice it); here's one reasonable way--
    --the 1 day chart shows Parabolic SARs are pushing us back down hard (PRICE DATA);
4) The ARMS Ease of Movement is heading back towards zero very quickly (above is bull, below bear) (VOLUME DATA);
5) Volatility is decreasing as we normalize (downwards-- and for the moment, gently) (VOLATILITY DATA)
6) The Senate hearing has clearly been priced in (perhaps this is more composite data, perhaps a BUSINESS FUNDAMENTAL (it's legal))

So, there you are. Set a bitcoinreminder for 790 and one for 600, and 500 and wait.  :)
It was in the 500s TWO DAYS AGO. Don't wait, it's not going to stop, not with the chinese dragging the price up and the recent positive senate hearings.


Title: Re: sold at $600. what to do?
Post by: windjc on November 22, 2013, 09:35:38 PM
Selling at 600 isn't that bad at all !

I sold most of mine around 230 I think it was, didn't see this bubble happening.  

Be happy you got out at 600, it's been 500-550 so hey it's easy to get make in and you made 10%+ profit.
Stop calling it a bubble :/ Years from now it will be clear that the blackboard guy was right all along. We are in the very early stages of an s-curve. There is no bubble, only a steep rise and then a plateau ahead.

I'm in the same boat with the OP, so here's where I am with it:

IF the price attacks that $778 Gox resistance point and cracks through, I will buy back in, and likely it will charge forward due to momentum (to 1k or more, who knows).

However, I don't see where the momentum is going to come from? Just the facts across distinct categories:
1) The news storm is drying up and everyone is back to (t)werk; (COMPOSITE DATA)
2) We are way ahead of the trend line (no matter how you slice it); here's one reasonable way--
    --the 1 day chart shows Parabolic SARs are pushing us back down hard (PRICE DATA);
4) The ARMS Ease of Movement is heading back towards zero very quickly (above is bull, below bear) (VOLUME DATA);
5) Volatility is decreasing as we normalize (downwards-- and for the moment, gently) (VOLATILITY DATA)
6) The Senate hearing has clearly been priced in (perhaps this is more composite data, perhaps a BUSINESS FUNDAMENTAL (it's legal))

So, there you are. Set a bitcoinreminder for 790 and one for 600, and 500 and wait.  :)

1. Nope. Its continuing. Maybe gaining momentum.
2. Yep. But not nearly as far past it as the bubble in 2011.
3. Just 1 signal among dozens. RSI for instance is very bullish.
4. Consolidating near highs. Exchanges evening out. Bullish news.
5. No way.  New deposits tend to lag news by about 1-2 weeks.

We are going to have 1 more awesome, mind blowing leg up. We will consolidate and work our way through several layers of resistance to 1000 in the next handful of days. Then we will blow up through 1000 and China will race towards 10k CYN, or $1630.   We might not make it there, but its going to be total chaos.


Title: Re: sold at $600. what to do?
Post by: davider on November 22, 2013, 09:38:11 PM
Google trend is going down a bit:
http://www.google.com/trends/explore?q=bitcoin#q=buy%20bitcoin&date=today%203-m&cmpt=date


Title: Re: sold at $600. what to do?
Post by: adamstgBit on November 22, 2013, 09:41:43 PM
Google trend is going down a bit:
http://www.google.com/trends/explore?q=bitcoin#q=buy%20bitcoin&date=today%203-m&cmpt=date

are there still poeple that don't know a tiny percentage of the poeple on the internet are bitcoiners?

really?


Title: Re: sold at $600. what to do?
Post by: davider on November 22, 2013, 09:44:42 PM
Sorry I didn't understand your comment. The graph is relative to the search term "buy bitcoin".


Title: Re: sold at $600. what to do?
Post by: Paladin69 on November 22, 2013, 09:46:17 PM
Pulled my trading play money out at 764.  Things seem calm and the dad cat seems to have bounced off the ground once...we'll see what happens...


Title: Re: sold at $600. what to do?
Post by: wopwop on November 22, 2013, 09:46:52 PM
Google trend is going down a bit:
http://www.google.com/trends/explore?q=bitcoin#q=buy%20bitcoin&date=today%203-m&cmpt=date

are there still poeple that don't know a tiny percentage of the poeple on the internet are bitcoiners?

really?

Sorry I didn't understand your comment. The graph is relative to the search term "buy bitcoin".
he means you should buy because till now every time the price of bitcoin went down it went up again later so this means it will go up in the future, brilliant eh?

but he's right there's still sheeple to convince in the world that we can make money off :)


Title: Re: sold at $600. what to do?
Post by: crazy_rabbit on November 22, 2013, 09:48:48 PM
Google trend is going down a bit:
http://www.google.com/trends/explore?q=bitcoin#q=buy%20bitcoin&date=today%203-m&cmpt=date

I suspect now is the time when Bitcoin will start to be driven by companies building on top of bitcoin. But remember, there is a great deal of world out there we need to bring the gospel of bitcoin to. Not just the states.


Title: Re: sold at $600. what to do?
Post by: geraFoerra on November 22, 2013, 09:48:52 PM
1) The news storm is drying up and everyone is back to (t)werk; (COMPOSITE DATA)

Nope, it took me 2 months before I put money in. The demand peak might be 2 weeks from now probably


Title: Re: sold at $600. what to do?
Post by: CryptStorm on November 22, 2013, 09:52:25 PM
Selling at 600 isn't that bad at all !

I sold most of mine around 230 I think it was, didn't see this bubble happening.  

Be happy you got out at 600, it's been 500-550 so hey it's easy to get make in and you made 10%+ profit.
Stop calling it a bubble :/ Years from now it will be clear that the blackboard guy was right all along. We are in the very early stages of an s-curve. There is no bubble, only a steep rise and then a plateau ahead.

I'm in the same boat with the OP, so here's where I am with it:

IF the price attacks that $778 Gox resistance point and cracks through, I will buy back in, and likely it will charge forward due to momentum (to 1k or more, who knows).

However, I don't see where the momentum is going to come from? Just the facts across distinct categories:
1) The news storm is drying up and everyone is back to (t)werk; (COMPOSITE DATA)
2) We are way ahead of the trend line (no matter how you slice it); here's one reasonable way--
    --the 1 day chart shows Parabolic SARs are pushing us back down hard (PRICE DATA);
4) The ARMS Ease of Movement is heading back towards zero very quickly (above is bull, below bear) (VOLUME DATA);
5) Volatility is decreasing as we normalize (downwards-- and for the moment, gently) (VOLATILITY DATA)
6) The Senate hearing has clearly been priced in (perhaps this is more composite data, perhaps a BUSINESS FUNDAMENTAL (it's legal))

So, there you are. Set a bitcoinreminder for 790 and one for 600, and 500 and wait.  :)

1. Nope. Its continuing. Maybe gaining momentum.
2. Yep. But not nearly as far past it as the bubble in 2011.
3. Just 1 signal among dozens. RSI for instance is very bullish.
4. Consolidating near highs. Exchanges evening out. Bullish news.
5. No way.  New deposits tend to lag news by about 1-2 weeks.

We are going to have 1 more awesome, mind blowing leg up. We will consolidate and work our way through several layers of resistance to 1000 in the next handful of days. Then we will blow up through 1000 and China will race towards 10k CYN, or $1630.   We might not make it there, but its going to be total chaos.

Hey windjc,

I like your posts, usually, but I'm trying to look at the data. So:
1) How do you figure the news storm is increasing? We were the #3 Google Hot Trend a couple of days ago, nothing greater since.
2) OK...
3) RSI is a trend indicator that shows both strength and weakness, depending on the window-- if it wasn't clear I'm looking at the 1 Day.
4) I'd like to have better data for volume-- definitely. I'm just looking at Gox for ARMS and then the total volume across as a number (useless?)
5) Deposits and news do not bear on volatility-- be careful to not take multiple signals from data sources you've factored.

HOWEVER: I sure hope you are right and we bust through to 790-800... because, THEN, we totally agree...  ;D

EDIT: The opportunity cost from buying in at 775 vs 800 is too great compared to the risk it slides downwards. The gains above 800, if we break through, will be worth the difference between 775 and 800. So, I stand by my 'wait and watch (carefully).'

2nd EDIT: Look at it this way, if it dives back to 350, the guy doubles his count. He should then cold store his coins, based on the fact that they will be worth 10-300K in several years. If not, and it goes up, he has a reminder to get in, in which case he should cold store his coins and multiply his count x 10-300K USD. You must think long term with this monster. (And, now, I'm talking to me.)


Title: Re: sold at $600. what to do?
Post by: CryptStorm on November 22, 2013, 09:57:11 PM
1) The news storm is drying up and everyone is back to (t)werk; (COMPOSITE DATA)

Nope, it took me 2 months before I put money in. The demand peak might be 2 weeks from now probably

Great, but supply and demand are FUNDAMENTAL DATA, not composite. And, I tend to agree with you the fundamentals are extraordinary. (But that has nothing to do with the OPs question)


Title: Re: sold at $600. what to do?
Post by: davider on November 22, 2013, 10:01:05 PM
I suspect now is the time when Bitcoin will start to be driven by companies building on top of bitcoin. But remember, there is a great deal of world out there we need to bring the gospel of bitcoin to. Not just the states.

I agree. It's important to build on top of that in order to simplify the use and reach a larger audience.


Title: Re: sold at $600. what to do?
Post by: briguy37 on November 22, 2013, 10:14:30 PM
i freaked out and sold a large portion of my coins around $600, suspecting the price would continue to oscillate between $400-700 for a couple weeks... (i know)

do I

A) wait it out hoping for a better price to get back in
B) take a loss and buy back in at $750
C) ??

thanks guys

Invest 30% NOW.  

If it gains, you'll get to ride it with at least a little coin, and you can rebalance as desired on the way up.  

If it falls, invest 10% more every 10% drop till you reach your target allocation %.  

Once at your target %, trade using your desired strategy, hopefully incorporating the "never sell all" lesson you've learned.  

For me, that means never go below 70%, buy with a % of your remaining cash when it drops a certain %, sell on the rebound to break even at a lower price, and rebalance on the way up for ATHs.  This makes volatility a great thing instead of something to be feared, and you still get your long-term benefits if it's just up up up.


Title: Re: sold at $600. what to do?
Post by: CryptStorm on November 22, 2013, 10:16:22 PM
Careful, it's wicked close man!

I'm queueing up to BUY! I won't get left out (again *sniff*).

About to pull trigger.


Title: Re: sold at $600. what to do?
Post by: UnDerDoG81 on November 22, 2013, 10:18:22 PM
Well, I bought 17,5 btcs 1 hour ago at 766$ (even though I posted that I wont buy coins at this price ^^) and am already 100$ richer ;D

I have 50% of Coins (17.5) on Gox wich I will never touch and then I now have these 17.5 Coins on Bitstamp for playing around with.


Title: Re: sold at $600. what to do?
Post by: CryptStorm on November 22, 2013, 10:18:51 PM
Careful, it's wicked close man!

I'm queueing up to BUY! I won't get left out (again *sniff*).

About to pull trigger.

But not till it shows strength-- there's 3k coins till 800, fyi (and if it runs, that's probably worth 20 minutes.)


Title: Re: sold at $600. what to do?
Post by: huadylmate on November 22, 2013, 10:23:53 PM
Given the bitcoin attention last days, I dont believe buying can go wrong.


Title: Re: sold at $600. what to do?
Post by: bitleif on November 22, 2013, 10:34:26 PM
@OP When I make an investment I assume that money is forever gone. Reduced to zero. And I try to forget it and work on collecting more money going forward, occasionally peaking taking a peak at the growth of my investment. This helps. Temptation is a bitch. And when it gets ahold of you and you sell, you're gonna regret it.

+1

Detaching emotionally from your money is the single best thing you can do for your investment intelligence, and also for your happiness in life. Like you, everything I put on BTC is play money. It's fun to profit and also to be part of the early BTC history, but the money isn't really that important.


Title: Re: sold at $600. what to do?
Post by: Coinseeker on November 22, 2013, 10:40:06 PM
Well, I bought 17,5 btcs 1 hour ago at 766$ (even though I posted that I wont buy coins at this price ^^) and am already 100$ richer ;D

I have 50% of Coins (17.5) on Gox wich I will never touch and then I now have these 17.5 Coins on Bitstamp for playing around with.

If you're never going to touch the coins on Gox, why are you storing them on Gox?  Why not move them to cold storage?   ???


Title: Re: sold at $600. what to do?
Post by: CryptStorm on November 22, 2013, 10:46:31 PM
OK, fucking buy, dude!


Title: Re: sold at $600. what to do?
Post by: Coinseeker on November 22, 2013, 10:57:21 PM
Well, I bought 17,5 btcs 1 hour ago at 766$ (even though I posted that I wont buy coins at this price ^^) and am already 100$ richer ;D

I have 50% of Coins (17.5) on Gox wich I will never touch and then I now have these 17.5 Coins on Bitstamp for playing around with.

If you're never going to touch the coins on Gox, why are you storing them on Gox?  Why not move them to cold storage?   ???


Probably for quick sell off when the time come. Waiting deposit confirmations might be deadly

That would pretty much negate "never going to touch", as any sudden down turn then becomes, "the time" to dump. 


Title: Re: sold at $600. what to do?
Post by: bitcon on November 22, 2013, 11:53:45 PM
i wonder if he bought back before it hit 800


Title: Re: sold at $600. what to do?
Post by: wobber on November 22, 2013, 11:59:08 PM
i wonder if he bought back before it hit 800

I don't understand why people sell and then are bears. Can't you just be bear without selling? Without hoping it will go down? And just expecting to go down?


Title: Re: sold at $600. what to do?
Post by: superkawaii on November 23, 2013, 12:05:30 AM
Google trend is going down a bit:
http://www.google.com/trends/explore?q=bitcoin#q=buy%20bitcoin&date=today%203-m&cmpt=date

Wonder if there's a Baidu.com trends


Title: Re: sold at $600. what to do?
Post by: wobber on November 23, 2013, 12:07:09 AM
That's not a bit, that's a lot!


Title: Re: sold at $600. what to do?
Post by: beetcoin on November 23, 2013, 12:11:05 AM
at this point, my mind is being blown on a daily basis.. i am current with the news, but i still think "wtf is going on.. this is hysteria."


Title: Re: sold at $600. what to do?
Post by: John999 on November 23, 2013, 12:21:49 AM
at this point, my mind is being blown on a daily basis.. i am current with the news, but i still think "wtf is going on.. this is hysteria."

+1


Title: Re: sold at $600. what to do?
Post by: zengryT on November 23, 2013, 12:23:09 AM
i wonder if he bought back before it hit 800

I don't understand why people sell and then are bears. Can't you just be bear without selling? Without hoping it will go down? And just expecting to go down?



Yup, if you have no coins and dont plan to buy you expecting it to go down and dont care if price goes up or down


Title: Re: sold at $600. what to do?
Post by: GriTBitS on November 23, 2013, 12:28:53 AM
Like I said hours ago when it was around 760$  !!!!!!!!!!!!!!!!!!!!BUY NOW!!!!!!!!!!!!!!!!!!!! If you didn't you're in a losing trade and you don't even know it. Your short in a long play! Better at least get one, because soon will only be able to buy a fraction of one! People reading charts be only looking at one time frame, You need to use at least at 3, Trend-Decision-Action If you are only staring at the 2 hour chart of course you were bearish as hell two days ago. If you're going to trade at least learn how too! Just because you hit the lotto on buying at once doesn't make you a trader.


Title: Re: sold at $600. what to do?
Post by: rocks on November 23, 2013, 12:33:23 AM
OP, did you buy back in yet and cut your loses? Remember the best professional traders on WS cut losses and change position very very quickly...

Truth is, I didn't really know enough at that time to grasp it all.  I had no idea about our monetary system, I had no idea why decentralized even mattered so, it really became a battle against ideology and not the tech.  As I've learned Ripple, I've learned more about the whole crypto-space.  I've learned tons about our failing global monetary system, what the bills in my wallet really are and the list goes on.  From that I realize that this is all really important.  Whether it will be Bitcoin or something like it, the truth is we have to do something.  

One of Bitcoin's greatest properties is it forces people to both learn about and question the current monetary system before one can fully buy into the concept. IMHO most people who bash Bitcoin (ignorantly) in the comment sections of MSM articles clearly are those who so far refuse to learn about the system and just take the common misconceptions as fact. Bitcoin will slowly but surely awaken many.


Title: Re: sold at $600. what to do?
Post by: zengryT on November 23, 2013, 12:34:37 AM
Seems every hour you dont buy is missed oppurtunity forever :o  :)


Title: Re: sold at $600. what to do?
Post by: Adrian-x on November 23, 2013, 02:00:58 AM
i wonder if he bought back before it hit 800

I LOLed, and felt so bad :-[


Title: Re: sold at $600. what to do?
Post by: Coinseeker on November 23, 2013, 02:12:20 AM

One of Bitcoin's greatest properties is it forces people to both learn about and question the current monetary system before one can fully buy into the concept. IMHO most people who bash Bitcoin (ignorantly) in the comment sections of MSM articles clearly are those who so far refuse to learn about the system and just take the common misconceptions as fact. Bitcoin will slowly but surely awaken many.

I couldn't agree more.  These crypto solutions require users to take more responsibility over their money and in order to do that, people will need to be educated on a multitude of levels.  We can't expect people to get it by osmosis.  There is a long, exciting road ahead for crypto currencies and I'm just glad to be a part of it. I look forward to seeing the change that this is going to bring to the lives of so many people.  Monetary freedom.  Who would have thought such could even be possible?  :o



Title: Re: sold at $600. what to do?
Post by: saddambitcoin on November 23, 2013, 02:40:43 AM
Thanks for the advice everyone.

I bought some back today.  If the price goes up, great.  If it drops, I'll buy back the rest. 

Am I an idiot?  Yes. 


Title: Re: sold at $600. what to do?
Post by: GriTBitS on November 23, 2013, 03:56:25 AM
Thanks for the advice everyone.

I bought some back today.  If the price goes up, great.  If it drops, I'll buy back the rest. 

Am I an idiot?  Yes. 


Sounds Great!


Title: Re: sold at $600. what to do?
Post by: nanobtc on November 23, 2013, 04:59:27 AM
I keep 50/50 fiat/btc in an exchange. I keep two bid/ask orders 11% below/above the current price. During big swings in either direction I manually change that difference to 20% or more.


Title: Re: sold at $600. what to do?
Post by: Sindelar1938 on November 23, 2013, 06:04:51 AM
It's gonna take a little balls but I think we will see a significant correction at some point...


Title: Re: sold at $600. what to do?
Post by: slikes on November 23, 2013, 06:27:39 AM
I sold at 3000 on BTC China. I'm just now buying back in at 5400. I've been praying for the price to dip for the last few days, but things are relatively stable compared to Monday. A crash is a few days off at least in my eyes.


Title: Re: sold at $600. what to do?
Post by: bitmarket.io on November 23, 2013, 01:12:20 PM
Thanks for the advice everyone.

I bought some back today.  If the price goes up, great.  If it drops, I'll buy back the rest.  

Am I an idiot?  Yes.  


Not an idiot at all. We all succumb to temptation.  It's only worse when you monitor it every second of your life.

I have converted 1/3 of my coins into casascius coins I believe are worth having.  It's a great way to limit yourself from completely cashing out.  It's worked for me.  I forgot about these coins as they just sit in a dark safe, and yet despite all the ups and downs, these coins have been continuously on the ride to the top.  Sometimes I pepper the coins all over desk, around the iMac as I work.  Makes me feel good looking at all that shine and ever-growing value. :P

I bought a bunch back at $770 the other day and do not regret it one bit as it's almost $870 today. I use coinbase pricing.

If you look back a few days you see there was ALMOST a chain reaction as it was nose diving, but it bounced back around $400 (the lowest), so if all goes to hell, the most I could lose is half of my investment. I don't believe it will just vanish unless someone hacks me or robs me of my physical coins.  And now it seems to have stabilized after that chaotic day.  I feel pretty confident and I listed my reasons in this topic in a previous post.

Anyway enough of my rant.  Best of luck to you and I hope you join us on the road to $1K and beyond!  :o :o  ;D


Title: Re: sold at $600. what to do?
Post by: kevschmitt on November 23, 2013, 10:02:02 PM
I keep 50/50 fiat/btc in an exchange. I keep two bid/ask orders 11% below/above the current price. During big swings in either direction I manually change that difference to 20% or more.

I use a similar strategy, and it's helped keep the emotions out.  I keep 20% in fiat, 80% BTC.   This automatically sells whats high and buys what's low.   


Title: Re: sold at $600. what to do?
Post by: darkshadowgirl on November 23, 2013, 10:05:15 PM
I did the exact opposite of you  ;D. I Bought at 600$

Duh. 


Title: Re: sold at $600. what to do?
Post by: jerelimZ on November 23, 2013, 10:41:30 PM
I keep 50/50 fiat/btc in an exchange. I keep two bid/ask orders 11% below/above the current price. During big swings in either direction I manually change that difference to 20% or more.

What happens if big dump happens, you auto buy BTC with all fiat? It might be problem to sell the BTC for higher price than you bought, no?


Title: Re: sold at $600. what to do?
Post by: 600watt on November 23, 2013, 10:44:07 PM
Sell low/ buy high is a common mistake. Wait, we will see a pullback one way or the other.

Unless you just buy and spend immediatelly, but without SR not best idea

 :D


op was right to buy back some (50% ?).

what are you doing with the other half?


Title: Re: sold at $600. what to do?
Post by: favelle75 on November 23, 2013, 11:02:44 PM
Took 0.5 BTC and sold last week at $720. Bought back at $380 and sold again at $450. Bought at $435 and then sold at $580.  Just bought in this week at $633 and sold this morning at $829. Seems like a pretty easy way to increase your coins without actually doing anything...


Title: Re: sold at $600. what to do?
Post by: bassclef on November 23, 2013, 11:04:50 PM
Took 0.5 BTC and sold last week at $720. Bought back at $380 and sold again at $450. Bought at $435 and then sold at $580.  Just bought in this week at $633 and sold this morning at $829. Seems like a pretty easy way to increase your coins without actually doing anything...

Except for the one time you sell and the price doesn't go down.


Title: Re: sold at $600. what to do?
Post by: 600watt on November 23, 2013, 11:08:44 PM
Took 0.5 BTC and sold last week at $720. Bought back at $380 and sold again at $450. Bought at $435 and then sold at $580.  Just bought in this week at $633 and sold this morning at $829. Seems like a pretty easy way to increase your coins without actually doing anything...

Except for the one time you sell and the price doesn't go down.

its like nl hold'em poker. you can do very well at all those little moves, but one incident of bad luck or mistake can take you all (your coins) out


Title: Re: sold at $600. what to do?
Post by: Mirsad on November 23, 2013, 11:10:53 PM
Took 0.5 BTC and sold last week at $720. Bought back at $380 and sold again at $450. Bought at $435 and then sold at $580.  Just bought in this week at $633 and sold this morning at $829. Seems like a pretty easy way to increase your coins without actually doing anything...

Except for the one time you sell and the price doesn't go down.

its like nl hold'em poker. you can do very well at all those little moves, but one incident of bad luck or mistake can take you all (your coins) out

Not true.
You can reduce the profit with bad trading. But when you never buy high and sell low, you'll allways increase your wealth. Possible not in BTC, but in total fiat+btc.


Title: Re: sold at $600. what to do?
Post by: UnDerDoG81 on November 23, 2013, 11:14:21 PM
Took 0.5 BTC and sold last week at $720. Bought back at $380 and sold again at $450. Bought at $435 and then sold at $580.  Just bought in this week at $633 and sold this morning at $829. Seems like a pretty easy way to increase your coins without actually doing anything...

Except for the one time you sell and the price doesn't go down.

its like nl hold'em poker. you can do very well at all those little moves, but one incident of bad luck or mistake can take you all (your coins) out

Not true.
You can reduce the profit with bad trading. But when you never buy high and sell low, you'll allways increase your wealth. Possible not in BTC, but in total fiat+btc.


Not on gox with 0.6% fee... only when big price changes are.


Title: Re: sold at $600. what to do?
Post by: saddambitcoin on November 23, 2013, 11:17:42 PM
Sell low/ buy high is a common mistake. Wait, we will see a pullback one way or the other.

Unless you just buy and spend immediatelly, but without SR not best idea

 :D


op was right to buy back some (50% ?).

what are you doing with the other half?


i bought back 25% of the BTC i sold.  i only buy what i can afford to lose and that's about it for right now.  

the rest of the money is waiting for another dump before 1000.











Title: Re: sold at $600. what to do?
Post by: favelle75 on November 23, 2013, 11:26:47 PM
Took 0.5 BTC and sold last week at $720. Bought back at $380 and sold again at $450. Bought at $435 and then sold at $580.  Just bought in this week at $633 and sold this morning at $829. Seems like a pretty easy way to increase your coins without actually doing anything...

Except for the one time you sell and the price doesn't go down.

its like nl hold'em poker. you can do very well at all those little moves, but one incident of bad luck or mistake can take you all (your coins) out

Not true.
You can reduce the profit with bad trading. But when you never buy high and sell low, you'll allways increase your wealth. Possible not in BTC, but in total fiat+btc.


Exactly. You only lose when you get caught in the bear or bull traps. I determine my wealth by total fiat+BTC...so I try not to "buy back" when it incurs a loss of either. ie, don't panic FFS.


Title: Re: sold at $600. what to do?
Post by: 600watt on November 23, 2013, 11:32:00 PM
Sell low/ buy high is a common mistake. Wait, we will see a pullback one way or the other.

Unless you just buy and spend immediatelly, but without SR not best idea

 :D


op was right to buy back some (50% ?).

what are you doing with the other half?




good luck, mate. surely know how it feels.

losing coins is just terrible.


Title: Re: sold at $600. what to do?
Post by: n691309 on November 24, 2013, 12:06:32 AM
Took 0.5 BTC and sold last week at $720. Bought back at $380 and sold again at $450. Bought at $435 and then sold at $580.  Just bought in this week at $633 and sold this morning at $829. Seems like a pretty easy way to increase your coins without actually doing anything...

Except for the one time you sell and the price doesn't go down.

its like nl hold'em poker. you can do very well at all those little moves, but one incident of bad luck or mistake can take you all (your coins) out

Not true.
You can reduce the profit with bad trading. But when you never buy high and sell low, you'll allways increase your wealth. Possible not in BTC, but in total fiat+btc.


But in the example above and always selling all, he might never rebuy BTC back after $580 sell. So he is plus with fiat, but missing oppurtunity with BTC future


Title: Re: sold at $600. what to do?
Post by: nanobtc on November 24, 2013, 03:45:15 AM
I keep 50/50 fiat/btc in an exchange. I keep two bid/ask orders 11% below/above the current price. During big swings in either direction I manually change that difference to 20% or more.

What happens if big dump happens, you auto buy BTC with all fiat? It might be problem to sell the BTC for higher price than you bought, no?

I keep most of my BTC in cold storage, and just a couple to play with like this.  In the case of a big dump, I am happy to buy more coins cheap. I believe in the future of BTC, and believe that it will mostly go up in the long run. I would be more worried about a big rally that kept going on, and having more $$$ than BTC at the end.

It's Goxtool, a bot in Linux (https://github.com/prof7bit/goxtool) running a balancer strategy (https://gist.github.com/prof7bit/5395900) and if it keeps going in either direction it continually places smaller and smaller orders to not get too far from 50/50. I can sleep and work knowing it will catch changes. In the present rally, I have it set for 20%, so that also slows it down (and reduces Gox fees with less frequent trading).

I am a computer guy, not an investing guy, here were my Four Steps to Know That I am Not a BTC Trader (at this point).

1. Newbie, bought half a coin.
2. Placed an ask for it all 50% higher, it hit.
3. Placed a bid for it all at a steep profit, it hit. I SHOULD QUIT MY JOB, THIS IS EASY!
4. Repeat a few times, lost $80. I DON'T KNOW WHAT I AM DOING! THIS IS NOT SO EASY!

So, running the bot is a lot easier and a lot more reliable than me doing it. It basically buys on the way down, and sells on the way up in small amounts. The BTC market is strange and fascinating, and I have learned a lot.


Title: Re: sold at $600. what to do?
Post by: accord01 on November 24, 2013, 03:58:13 AM
I would suggest to buy right now as in within the next 10 sec, before prices jump over 800 again and don't look back for the next 4-5days, then it is on to testing 999


Title: Re: sold at $600. what to do?
Post by: raskolnikovx on November 26, 2013, 06:06:44 PM
I sold some Btc at 680 USD and a little more at 750 before prices shoot up to 800-900
As I cannot tell whats going on anymore I used the money to buy Litecoins when they where around 7-8 USD.
Litecoins are today at 16 USD and going up so I doubled my money.
I wont be operating Bitcoin for a while. Things are just crazy.


Title: Re: sold at $600. what to do?
Post by: favelle75 on November 26, 2013, 06:39:11 PM
I sold my given chunk at $828...now just sitting and waiting.....and waiting......


Title: Re: sold at $600. what to do?
Post by: Rampion on November 26, 2013, 07:12:27 PM
This thread looks very oversold, do we agree on that?


Title: Re: sold at $600. what to do?
Post by: FiatKiller on November 26, 2013, 11:34:07 PM
Don't feel bad, I sold 5 @ $700 hoping to buyback lower and got burnt. Bought back in today, but have less coins now. Will be much more careful in the future. I am going to horde and just play with these 5.


Title: Re: sold at $600. what to do?
Post by: tearfereon on November 26, 2013, 11:39:44 PM
This thread looks very oversold, do we agree on that?

Too much hope here for crash and buying cheaper  :)
Possible, but Im not betting on crash


Title: Re: sold at $600. what to do?
Post by: Rampion on November 26, 2013, 11:42:09 PM
This thread looks very oversold, do we agree on that?

Too much hope here for crash and buying cheaper  :)
Possible, but Im not betting on crash

In fact we could just go up - and up we go.

BTC is going mainstream, world wide.


Title: Re: sold at $600. what to do?
Post by: bonker on November 26, 2013, 11:47:04 PM
C) Join the Bears club lead by Blitz and spread BS to scare the noobs....... Also pretend to use TA so they think you're pro trader. And crash is always coming. Say something like .... "i expect under $400 soon"  or " we're not gonna see $600 untill 2015". Oh and just ignore anyone says otherwise.


LOL

There are tons of "pro traders" who turn into bears because they "cashed out" at 200s, then 300s, then 400s....They either left .... then come back to a correction or flash crash and chant " crash crash, bubble pop" or  never come back. Samson, where art thou?

You get the idea.

ps, when anyone ask, they will say " hell yeah, my strategy works out better than buy and hold. I'm pro so..."



Yeah, and it is REALLY HARD to beat the "buy & hold" strategy. I mean seriously, if you aren't satisfied with 1000% growth per year, there's little in life that will make you happy :)

I turned my bots off and just went long .. The best trading strategy right now is to just sit long


Title: Re: sold at $600. what to do?
Post by: barbs on November 26, 2013, 11:48:12 PM
i have lost so many btc to foolish calls, don't do it. got a 1/3 of what i had in july.


Title: Re: sold at $600. what to do?
Post by: 600watt on November 26, 2013, 11:48:22 PM
I would suggest to buy right now as in within the next 10 sec, before prices jump over 800 again and don't look back for the next 4-5days, then it is on to testing 999

nice call !