Hi,
I've been following some of the speculation threads, most notably the Wall Observer and I'm considering having a go myself. Thank you all for making that so interesting
But to help me not to be kidding myself I'm 'good at it' when I may have made just as much or more money (in terms of USD) by sitting on my Bitcoins I want to put aside some bitcoin to consider as my speculation fund which means I'll be buying USD when I judge it to be good value to sell again when its price goes up. I'd like therefore for my graphs to reflect this so that the rightmost scale on an equivalent of the main bitcoincharts.com Mt. Gox USD chart will show the BTC price (e.g. 0.073 instad of 13.5ish) which essentially turns the graph upside down. Does anyone know if there are charts like this available online? What about with software?
The idea is to flip the graph to reflect how I'm thinking. I will consider myself successful if my bitcoin speculation fund is increasing irrespective of its current USD value. This would also bring into focus the need to be thinking in terms of 'closing my positions', assuming 'open positions' (when I'm exposed to USD) as funds at risk and to count my ROI only on the BTC total.
It does of course also mean having to forget for the purposes of trading what I paid for my BTC in the first place but that's sort-of easier for me because I initially buy in GBP.
Incidentally, I wonder how many of those day trading now would be making the same trades if looking at it this way? I wonder if looked at from the BTC perspecptive how many who consider themselves successful traders would still show a profit? I wonder were this the default view on the main chart-providing websites whether trading behaviour across the board would change enough to make a difference?
I guess this isn't the first time this will have come up but I've not been able with a quick search to find old threads discussing this.
