I didn't panic sell. I chose a point at which to cut losses. $400 was the major support that everyone said would be a sign of a long-term down trend. So I set an alarm on my phone and told myself I would sell when that alarm went off, regardless of anything else, being tired of having had nothing but incredible losses over the last few months. I took the advice of the experienced traders on this forum. And it was right, for a day, until the PBOC suddenly decided "oops, just kidding that whole notice doesn't exist even though all these exchanges are limiting deposit options."
In other words, fuck off. Considering you're the asshole giving awful advice calling it "panic selling" when people sold at $600+ a month ago, I'm going to go ahead and pass on your advice.
Just to re iterate, your main problem was listening to people on the internet. You took the advice of traders on a forum who will always talk their book. The PBoC notice has never changed they have never said they were banning it and all they did was reiterate the banking rules and double confirm (for anyone still listening to people saying China is banning it) that a ban was not happening. I respect your stop loss and its wise if this was an investment rather than wanting to have and use BTC but you cant blame people on a forum. If your here to get rich then it burns to loose money but if your generally interested in BTC, buy back with an amount you can afford to loose and ride the waves and hodl. There are many around that sold out super low and never returned. Believe me, the last thing I am doing is blaming anyone else. I am just trying to get a grasp on what the responsible choice is here. I have used BTC and have a small amount I used on day-to-day purchases. Did I hope to make a profit when I bought more? Yes. Is that the "wrong reason?" I'm not sure, is it? Either way, the money just became available in my account. So I'm going to take Rpietila's advice, because he knows better than I do through experience. And yes, I understand that its a risk and I could lose everything, and don't hold anyone else responsible for my decisions. I just was angry after holding through this entire downtrend, I sold right before the rally. Okay fair enough, im not meaning to sound condescending just you can see the effects of listening to 'experienced traders' on a speculation forum. Hoping that an asset you hold gains value, nothing wrong with hoping that. Putting your life savings into one of the most volatile assets in history and hoping to get rich quick, thats the wrong attitude. You still have a choice to make and that choice is entirely yours. Just perhaps this time be a bit more reasonable with the amount you invest and make sure it is what your prepared to loose. This is still a beta experiment. |
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I didn't panic sell. I chose a point at which to cut losses. $400 was the major support that everyone said would be a sign of a long-term down trend. So I set an alarm on my phone and told myself I would sell when that alarm went off, regardless of anything else, being tired of having had nothing but incredible losses over the last few months. I took the advice of the experienced traders on this forum. And it was right, for a day, until the PBOC suddenly decided "oops, just kidding that whole notice doesn't exist even though all these exchanges are limiting deposit options."
In other words, fuck off. Considering you're the asshole giving awful advice calling it "panic selling" when people sold at $600+ a month ago, I'm going to go ahead and pass on your advice.
Just to re iterate, your main problem was listening to people on the internet. You took the advice of traders on a forum who will always talk their book. The PBoC notice has never changed they have never said they were banning it and all they did was reiterate the banking rules and double confirm (for anyone still listening to people saying China is banning it) that a ban was not happening. I respect your stop loss and its wise if this was an investment rather than wanting to have and use BTC but you cant blame people on a forum. If your here to get rich then it burns to loose money but if your generally interested in BTC, buy back with an amount you can afford to loose and ride the waves and hodl. There are many around that sold out super low and never returned. |
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If Huobi goes back to 2900 today it's going to look really bad.
A pull back is to be expected no ? Maybe not as far as 2900 though. |
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That's simply the worst thing I have ever read on these forums! you are a disgrace and a horrible person.
Its blunt but its not the worst thing thats been said around here! The guy broke a number of investment rules and I'm sure will learn from it. Plus thats shroomskit for ya  |
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There are 3 trendlines that try to map the whole history:
- mine
- SlipperySlope's
- jl2012
(ofc nobody owns the numbers but we update them)
You mean some of these or some other?
Links for the lazy rpietila ? |
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The days of sub-$500 btc are over
I very much doubt that. Even if this is the reversal you can expect a pull back of some kind after a large rally. |
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BS depth? what does that mean?
Bidside Depth ? |
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time to short
Maybe, but thats dangerous while the rally stil has legs. |
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Short squeeze most likely. Weird to feel squeezed up to $550 when Huobi is still sub $500. |
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So whats the official trendline break target? I thought it was around ~$480-$490?
Linear $515. Logarithmic $580. Thanks, today could be the day... |
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I don't have any clue wtf to do now.
I bought my first btc at around 680 because there were "cheap coins."
I bought more on the way down to 500 to "cost average"
I put almost my entire savings at 480
Then everyone said if it broke 400 we were screwed and there was NO good news from China at all so I sold at 399.
So wtf do I do now? I've lost thousands and the money hasn't hit my bank account so I can't even buy back in. Wtf do i do?
Buy back. Stop reading news. Stop caring about price. *Have your friend call you if and only if Bitcoin experiences a sell signal (0.4 log units above trendline). Live your life. Wait for the call. When it comes, check if selling max 50% of your bitcoins is enough to retire. If yes, sell them. If no, take 20% out as profits and buy something nice. Go to *. Lucky you, that consultation was free of charge |
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So whats the official trendline break target? I thought it was around ~$480-$490?
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I don't have any clue wtf to do now.
I bought my first btc at around 680 because there were "cheap coins."
I bought more on the way down to 500 to "cost average"
I put almost my entire savings at 480
Then everyone said if it broke 400 we were screwed and there was NO good news from China at all so I sold at 399.
So wtf do I do now? I've lost thousands and the money hasn't hit my bank account so I can't even buy back in. Wtf do i do?
I feel for you man, but just reading around you should know rule 101 is dont listen to others about your investment decisions. Take it as a lesson learnt, you clearly didnt get into BTC for the right reasons firstly but take the standard investment advice of; Dont risk more than your willing to loose Never go all in Never go all out Dont listen to people on the internet. |
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Sorry windjc
But you going bear was a pretty strong buy signal
You were one of my favourite posters before but now you need to realize your losses and move the fuck on
My losses? I've made over 40k in the last 10 days. No losing trades. Im fully fiat right now, ready to move back in. If we go to 600 then I might incur some losses. You were one of his favorite posters until you disagreed with him. Isn't that how it works, story to fit the motive etc  |
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Would not like to be on the short side of a trade now.
~$485 broke the long descending December triangle. Almost decision time.
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any plans to add player-vs-player hold'em in the future?
Yes we are going to launch that soon. This will be huge. I look forward to this Ritz. |
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Today could get very interesting. 522BTC wall at $475 to start it off.
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lol at the mini panic sell when that 500 BTC wall was flashed.
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Is it already sleepysleepy time in china?
Yes early morning in China. |
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