I am pretty confident we are the new wealthy elite, gentlemen.

[Ron~Popeil]

It's like "just shut up and hodl"

Well, yeah but you also might do a little day trading with part of your stock of BTC.

If i tried day trading I would be broke. My gambling skills are about the same. I just look for prudent and safe investments.

Then you are doing exactly what you should be doing and do not feel in any way bad about your position.

Harry Callahan said:

" A man's GOT to know his limitations."

Do what you do and do it well.

You will be both happy and successful.

Thanks! This forum has been a huge help in finding those investments as well. I take more of a buy and grow approach as opposed to the buy and hold approach.

[LostDutchman]

It's like "just shut up and hodl"

Well, yeah but you also might do a little day trading with part of your stock of BTC.

If i tried day trading I would be broke. My gambling skills are about the same. I just look for prudent and safe investments.

Then you are doing exactly what you should be doing and do not feel in any way bad about your position.

Harry Callahan said:

" A man's GOT to know his limitations."

Do what you do and do it well.

You will be both happy and successful.

Thanks! This forum has been a huge help in finding those investments as well. I take more of a buy and grow ap

"Chance the Gardener: Yes. In the garden, growth has it seasons. First comes spring and summer, but then we have fall and winter. And then we get spring and summer again."

[Ron~Popeil]

It's like "just shut up and hodl"

Well, yeah but you also might do a little day trading with part of your stock of BTC.

If i tried day trading I would be broke. My gambling skills are about the same. I just look for prudent and safe investments.

Then you are doing exactly what you should be doing and do not feel in any way bad about your position.

Harry Callahan said:

" A man's GOT to know his limitations."

Do what you do and do it well.

You will be both happy and successful.

Thanks! This forum has been a huge help in finding those investments as well. I take more of a buy and grow ap

"Chance the Gardener: Yes. In the garden, growth has it seasons. First comes spring and summer, but then we have fall and winter. And then we get spring and summer again."

Ah Being There! I still think Forrest Gump was sort of a rip off of that book. 

[LostDutchman]

It's like "just shut up and hodl"

Well, yeah but you also might do a little day trading with part of your stock of BTC.

If i tried day trading I would be broke. My gambling skills are about the same. I just look for prudent and safe investments.

Then you are doing exactly what you should be doing and do not feel in any way bad about your position.

Harry Callahan said:

" A man's GOT to know his limitations."

Do what you do and do it well.

You will be both happy and successful.

Thanks! This forum has been a huge help in finding those investments as well. I take more of a buy and grow ap

"Chance the Gardener: Yes. In the garden, growth has it seasons. First comes spring and summer, but then we have fall and winter. And then we get spring and summer again."

Ah Being There! I still think Forrest Gump was sort of a rip off of that book. 

Naw, Forrest is a different breed of cat but nevertheless fits right in.

Don't worry.

Be happy.

[Bit_Happy]

Are you following your own example plan or are you still day trading like earlier this year and late last year?

I'm not against the plan you pose above, in fact I support it, but it is easier said than done when your motto is to diversify. Price upticks generally get people to sell.

I've diversified out of bitcoin enough to be fine with my gains even if Bitcoin went to zero.

But still have a good stake in it should it continue to the Milky Way.

All in all, people who keep their funds on exchanges to attempt to scalp the markets will likely end up losing purely based on the single biggest security issue with that type of method, 3rd party risk.

If you start with a small amount and slowly work up to over 1200% gains, then (after removing the original investment) it is impossible to "end up losing" due to 3rd party risk.  

[LostDutchman]

Are you following your own example plan or are you still day trading like earlier this year and late last year?

I'm not against the plan you pose above, in fact I support it, but it is easier said than done when your motto is to diversify. Price upticks generally get people to sell.

I've diversified out of bitcoin enough to be fine with my gains even if Bitcoin went to zero.

But still have a good stake in it should it continue to the Milky Way.

All in all, people who keep their funds on exchanges to attempt to scalp the markets will likely end up losing purely based on the single biggest security issue with that type of method, 3rd party risk.

If you start with a small amount and slowly work up to over 1200% gains, then (after removing the original investment) it is impossible to "end up losing" due to 3rd party risk.  

I do what I do behind the curtain and I seek others who which to do the same.......................

I am very good at what I do, thank you.

[Bit_Happy]

Are you following your own example plan or are you still day trading like earlier this year and late last year?

I'm not against the plan you pose above, in fact I support it, but it is easier said than done when your motto is to diversify. Price upticks generally get people to sell.

I've diversified out of bitcoin enough to be fine with my gains even if Bitcoin went to zero.

But still have a good stake in it should it continue to the Milky Way.

All in all, people who keep their funds on exchanges to attempt to scalp the markets will likely end up losing purely based on the single biggest security issue with that type of method, 3rd party risk.

If you start with a small amount and slowly work up to over 1200% gains, then (after removing the original investment) it is impossible to "end up losing" due to 3rd party risk.  

I do what I do behind the curtain and I seek others who which to do the same.......................

I am very good at what I do, thank you.

From Kansas......"you perform behind the curtain"....who are you, the Wizard of Oz?
How's Toto and Dorthy doing these days?
Follow the Yellow Block Road 

[rpietila]

Are you following your own example plan or are you still day trading like earlier this year and late last year?

I have never been daytrading BTC. I sold in Nov-Dec and bought back in Feb, so my classification would be "swingtrading". Before and after that I had very little in exchanges. Of course as the price rises again, I'll have to figure out how to divest. I am open to suggestions from all lawful buyers who pay first, after the price crosses $3000.

I'm not against the plan you pose above, in fact I support it, but it is easier said than done when your motto is to diversify. Price upticks generally get people to sell.

Problem with people's natural instinct is that they sell in the meager upticks in the early part of the move and then don't sell when the price goes ballistic, which would be a good time to sell (with a plan).

All in all, people who keep their funds on exchanges to attempt to scalp the markets will likely end up losing purely based on the single biggest security issue with that type of method, 3rd party risk.

I also lost BTC250 with Mt.Gox, and I am not proud of it since it was a losign proposition to start with. But that was still only a fraction of my gains made by swingtrading last winter.

[Bit_Happy]

I have never been daytrading BTC. I sold in Nov-Dec and bought back in Feb, so my classification would be "swingtrading". Before and after that I had very little in exchanges. Of course as the price rises again, I'll have to figure out how to divest. I am open to suggestions from all lawful buyers who pay first, after the price crosses $3000.

Medium-term trading BTC makes the most sense, especially in a market where the moves are so extreme. Scalping and day trading is very exciting, but it's too hard to be prepared for the bigger moves when the focus is closing out both sides of many smaller trades.

[Ron~Popeil]

Are you following your own example plan or are you still day trading like earlier this year and late last year?

I have never been daytrading BTC. I sold in Nov-Dec and bought back in Feb, so my classification would be "swingtrading". Before and after that I had very little in exchanges. Of course as the price rises again, I'll have to figure out how to divest. I am open to suggestions from all lawful buyers who pay first, after the price crosses $3000.

I'm not against the plan you pose above, in fact I support it, but it is easier said than done when your motto is to diversify. Price upticks generally get people to sell.

Problem with people's natural instinct is that they sell in the meager upticks in the early part of the move and then don't sell when the price goes ballistic, which would be a good time to sell (with a plan).

All in all, people who keep their funds on exchanges to attempt to scalp the markets will likely end up losing purely based on the single biggest security issue with that type of method, 3rd party risk.

I also lost BTC250 with Mt.Gox, and I am not proud of it since it was a losign proposition to start with. But that was still only a fraction of my gains made by swingtrading last winter.

Wow you make my meager holdings look even more pitiful. I do not have the skills nor the psychological make up for day trading but would you be willing to explain swing trading a bit more? I understand if you don't want to share any secrets, but as someone that is all ready at a place I can only hope to reach one day anything you would be willing to share would be most welcome.

[Light]

Wow you make my meager holdings look even more pitiful. I do not have the skills nor the psychological make up for day trading but would you be willing to explain swing trading a bit more? I understand if you don't want to share any secrets, but as someone that is all ready at a place I can only hope to reach one day anything you would be willing to share would be most welcome.

If I understand it correctly, the trading he did was back when Bitcoin's price was spiraling upwards (in excess of $1000USD) and at that point he sold off, expecting the price to subsequently fall (which it did). When it eventually fell to around $450 he just bought back in effectively more than doubling what was traded in a single swoop. It's not really hard to understand, just making sure you have the timing right is important (ie when to sell off at the top and when to buy back at the bottom).

[Bit_Happy]

Wow you make my meager holdings look even more pitiful. I do not have the skills nor the psychological make up for day trading but would you be willing to explain swing trading a bit more? I understand if you don't want to share any secrets, but as someone that is all ready at a place I can only hope to reach one day anything you would be willing to share would be most welcome.

If I understand it correctly, the trading he did was back when Bitcoin's price was spiraling upwards (in excess of $1000USD) and at that point he sold off, expecting the price to subsequently fall (which it did). When it eventually fell to around $450 he just bought back in effectively more than doubling what was traded in a single swoop. It's not really hard to understand, just making sure you have the timing right is important (ie when to sell off at the top and when to buy back at the bottom).

It also depends on your personality. Some people are best suited for "buy and hold" and others have the character traits which give them a better chance to win at trading. Just be careful, since most traders lose long-term.

[Ron~Popeil]

Wow you make my meager holdings look even more pitiful. I do not have the skills nor the psychological make up for day trading but would you be willing to explain swing trading a bit more? I understand if you don't want to share any secrets, but as someone that is all ready at a place I can only hope to reach one day anything you would be willing to share would be most welcome.

If I understand it correctly, the trading he did was back when Bitcoin's price was spiraling upwards (in excess of $1000USD) and at that point he sold off, expecting the price to subsequently fall (which it did). When it eventually fell to around $450 he just bought back in effectively more than doubling what was traded in a single swoop. It's not really hard to understand, just making sure you have the timing right is important (ie when to sell off at the top and when to buy back at the bottom).

Thanks. I have a lot to learn about technical analysis and markets before I try it. I would have no clue how to time it. 

[Ron~Popeil]

Wow you make my meager holdings look even more pitiful. I do not have the skills nor the psychological make up for day trading but would you be willing to explain swing trading a bit more? I understand if you don't want to share any secrets, but as someone that is all ready at a place I can only hope to reach one day anything you would be willing to share would be most welcome.

If I understand it correctly, the trading he did was back when Bitcoin's price was spiraling upwards (in excess of $1000USD) and at that point he sold off, expecting the price to subsequently fall (which it did). When it eventually fell to around $450 he just bought back in effectively more than doubling what was traded in a single swoop. It's not really hard to understand, just making sure you have the timing right is important (ie when to sell off at the top and when to buy back at the bottom).

It also depends on your personality. Some people are best suited for "buy and hold" and others have the character traits which give them a better chance to win at trading. Just be careful, since most traders lose long-term.

For right now I just do careful investments. I add about 1% or so a week so it isn't bad. If I tried to trade now it would simply be gambling and that is always a losing prospect.

[Bit_Happy]

Wow you make my meager holdings look even more pitiful. I do not have the skills nor the psychological make up for day trading but would you be willing to explain swing trading a bit more? I understand if you don't want to share any secrets, but as someone that is all ready at a place I can only hope to reach one day anything you would be willing to share would be most welcome.

If I understand it correctly, the trading he did was back when Bitcoin's price was spiraling upwards (in excess of $1000USD) and at that point he sold off, expecting the price to subsequently fall (which it did). When it eventually fell to around $450 he just bought back in effectively more than doubling what was traded in a single swoop. It's not really hard to understand, just making sure you have the timing right is important (ie when to sell off at the top and when to buy back at the bottom).

It also depends on your personality. Some people are best suited for "buy and hold" and others have the character traits which give them a better chance to win at trading. Just be careful, since most traders lose long-term.

For right now I just do careful investments. I add about 1% or so a week so it isn't bad. If I tried to trade now it would simply be gambling and that is always a losing prospect.

Trading is risk taking where a moderate number of people are able to win long-term.
Edit: I misread something....If for you personally, it would be too much of a "gamble", then certainly don't do it.
Trading is also addictive, so having a chance to actually win long-term is important. 

[Ron~Popeil]

Wow you make my meager holdings look even more pitiful. I do not have the skills nor the psychological make up for day trading but would you be willing to explain swing trading a bit more? I understand if you don't want to share any secrets, but as someone that is all ready at a place I can only hope to reach one day anything you would be willing to share would be most welcome.

If I understand it correctly, the trading he did was back when Bitcoin's price was spiraling upwards (in excess of $1000USD) and at that point he sold off, expecting the price to subsequently fall (which it did). When it eventually fell to around $450 he just bought back in effectively more than doubling what was traded in a single swoop. It's not really hard to understand, just making sure you have the timing right is important (ie when to sell off at the top and when to buy back at the bottom).

It also depends on your personality. Some people are best suited for "buy and hold" and others have the character traits which give them a better chance to win at trading. Just be careful, since most traders lose long-term.

For right now I just do careful investments. I add about 1% or so a week so it isn't bad. If I tried to trade now it would simply be gambling and that is always a losing prospect.

Trading is risk taking where a moderate number of people are able to win long-term.
Edit: I misread something....If for you personally, it would be too much of a "gamble", then certainly don't do it.
Trading is also addictive, so having a chance to actually win long-term is important. 

For me it is more about a lack of knowledge in trading and the fact that I don't have enough BTC to get any sort of volume going. I would do just as well tossing it onto a roulette wheel. 

[Justin00]

I'm curious abotu how many people actually turned wealthy ?
I am sure their are a few people ? but wealthy as in metric shitload, not wow dude I just made $60 day trading last week ?

speak up rich ppl,... speak up or for ever hold your piece ?

fine fine I am just jelous. But I am glad some of you hit the jackpot.

[bitpop]

No now is the time to buy

[Ron~Popeil]

I'm curious abotu how many people actually turned wealthy ?
I am sure their are a few people ? but wealthy as in metric shitload, not wow dude I just made $60 day trading last week ?

speak up rich ppl,... speak up or for ever hold your piece ?

fine fine I am just jelous. But I am glad some of you hit the jackpot.

I think there is a natural inclination for a lot of them to keep it kind of quiet. The tax man never sleeps. 

[JayJuanGee]

Are you following your own example plan or are you still day trading like earlier this year and late last year?

I have never been daytrading BTC. I sold in Nov-Dec and bought back in Feb, so my classification would be "swingtrading". Before and after that I had very little in exchanges. Of course as the price rises again, I'll have to figure out how to divest. I am open to suggestions from all lawful buyers who pay first, after the price crosses $3000.

I'm not against the plan you pose above, in fact I support it, but it is easier said than done when your motto is to diversify. Price upticks generally get people to sell.

Problem with people's natural instinct is that they sell in the meager upticks in the early part of the move and then don't sell when the price goes ballistic, which would be a good time to sell (with a plan).

All in all, people who keep their funds on exchanges to attempt to scalp the markets will likely end up losing purely based on the single biggest security issue with that type of method, 3rd party risk.

I also lost BTC250 with Mt.Gox, and I am not proud of it since it was a losign proposition to start with. But that was still only a fraction of my gains made by swingtrading last winter.

Wow you make my meager holdings look even more pitiful. I do not have the skills nor the psychological make up for day trading but would you be willing to explain swing trading a bit more? I understand if you don't want to share any secrets, but as someone that is all ready at a place I can only hope to reach one day anything you would be willing to share would be most welcome.

When Rpietila is talking about swing trading, he is referring to selling only on very large upwards price swings, and buying back at a lower point with those proceeds.

Even swing trading cannot be timed exactly, so for example Rpietila bought a lot of coins below $10 and below $100 (he claims to have more than 10K coins, which I have NO reason to doubt).  In November 2013, when the price spiked, beyond $600 per coins, Rptiela sold 2K coins (or something like that); however he regretted not waiting a bit longer.  In any event, when he began to sell at $600, BTC prices were well above the trend line, so it is really difficult to predict that the price is going to double again from there and so quickly.

Currently, the trend line is in dispute, and probably Rptiela will put the trend line in the $1200 or greater area, yet I am much more conservative, and I would put the trendline around $800 to $900.  In either case, if BTC prices quickly go into the $2,000 price arena, then neither of us disagrees that we are above the trendline, but each of us may conclude at a different point about when to sell and how much to sell.  Rptiela is NOT selling his whole stash, but only a percentage of it.. 10 to 20%.. and then hopefully buying back, but at the time of sale, he may have received much more than a 4-6x price growth. 

On the other hand, if prices only inch up for several months and even years, there may be some debate about whether the trendline has shifted or where exactly is the trendline, in order to know exactly when to swing trade.  Yet, if you hold a stash that has appreciated 4x or more, it would be prudent to rake some of those profits, and if your BTC stash has appreciated by 10x, you are in a much more solid position to take up to 20% of the stash as profits, and you would have taken out double what you had originally invested into it.



This swing trading is NOT typical day trading but still retains many of the prediction and analysis risks, but frequently, if you have bought fairly low and then there is a considerable appreciation in your BTC stash, then you can take various measures to take some of those profits and/or to reinvest some of those profits to increase your stash.  One problem with continuing to increase your stash and never taking profits is that if the asset goes completely belly up, then you will have NOTHING to show for all of the profits that you have made.  In that regard, it is very prudent to have a plan for taking profits.  My plan for taking profits begins at around the 4x level.... however, if I am paying some attention to BTC prices and movement and politics at the time that my stash reaches the 4x price range, then I may adjust  some of the specifics of my selling depending on what is going on in the BTC space at the time. 

Sometimes, it may be better to NOT engage at all (b/c any of us can easily predict wrongly b/c of the many factors including price manipulators), but just lay out a predetermined plan for taking out money at certain price points or to reinvest certain amounts of money at certain price points.