Will you wait for stability to buy in?

[zkay]

See title. How long does the price need to be stable before you'll buy back in? Is this a bear trap? Is the subsequent run up a bull trap?

I sold at $45.50 and I am very hesitant to buy back in above what I sold at. I think I will wait at least a week, if not a few weeks, to get back on the train.

After all, if it's going to the stars, what's a few percent profit?

[1714506430]

1714506430

[1714506430]

1714506430

[lebing]

After all, if it's going to the stars, what's a few percent profit?

exactly.

It will hurt more to lose out on gains than it will feel good to make a bit on the right trade. Its also very, very difficult to do that in the bitcoin market.

[mccorvic]

I will continue to buy my normal $ amount of bitcoin at a time, regardless of price.

[dopamine]

im buying till $100 

[1Pakis]

sold at 45 buying in if we break 50 or 30

[neoivan1987]

sold at 45 buying in if we break 50 or 30

+1

I sold at 43$

[nobbynobbynoob]

I love bitcoin, but with the current trends I'm sticking to cheap stuff like gold and silver for now.

[dopamine]

I love bitcoin, but with the current trends I'm sticking to cheap stuff like gold and silver for now.

I still don't understand why you cant have both... DIVERSIFY but I would be buying alot more bitcoins if I was living in the US because you can't take silver with you when you flee the country if and when the US dollar collapses.

[mccorvic]

I love bitcoin, but with the current trends I'm sticking to cheap stuff like gold and silver for now.

Yes, I too prefer to lose money on my investments. Wait, no I don't.

[Vladimir]

bears are worried, apparently

yep you should be

[CurbsideProphet]

See title. How long does the price need to be stable before you'll buy back in? Is this a bear trap? Is the subsequent run up a bull trap?

I sold at $45.50 and I am very hesitant to buy back in above what I sold at. I think I will wait at least a week, if not a few weeks, to get back on the train.

After all, if it's going to the stars, what's a few percent profit?

We've seen a million of these threads at different increments.  Psychological barriers, retracements, testing old highs, bear trap, bubble, etc. etc. Everyone looking to call a top and so far being wrong.  

Will someone eventually correctly call a top?  Of course, even broken clocks are right twice a day.  But really, what's the point of putting so much effort and agonizing over as you say, "a few percent profit."

My feeling is you either believe in Bitcoin or you don't.  Invest what you can afford to lose, we're still in the early adoption phase for 99% of the population.  You can take profits now but really, what is a few hundred or thousand dollars going to do for you?  Is it going to change your life?  Probably not.  The way I see it, either we're part of something really revolutionary or we lose our investment (but we're not investing more than we can afford to lose right? So why sweat it).

I'm sure there are many day traders here just to make a buck.  That's fine, but those types aren't going to be answering these random polls/threads.  You need to ask yourself why you're here and make an investing strategy accordingly.  

[Piper67]

Stability? You'll be waiting for a while, son.

Buy Bitcoins. Spend Bitcoins. If you spend, buy some more to compensate. Any Bitcoin purchased for these prices is a good deal in 2015 

[nobbynobbynoob]

I still don't understand why you cant have both...

There's no reason at all. I want to get into Au/Ag a bit because I don't have any serious holdings in them, whereas I already have a handful of BTC and the BTC has tripled up almost overnight.

[zkay]

sold at 45 buying in if we break 50 or 30

+1

I sold at 43$

Excellent strategy, covered both ways! I think I will try to stick to this too, but I might move the low end up to $33 just because that was the low the other day.

As far as the long haul investment goes, I am right there with all of you! I am simply trying to expand my USD holdings in order to then turn around and turn them into BTC.

Thank you for the thoughtful replies, everyone.

[Wekkel]

sold at 45 buying in if we break 50 or 30

+1

I sold at 43$

Excellent strategy, covered both ways! I think I will try to stick to this too, but I might move the low end up to $33 just because that was the low the other day.

As far as the long haul investment goes, I am right there with all of you! I am simply trying to expand my USD holdings in order to then turn around and turn them into BTC.

Thank you for the thoughtful replies, everyone.

Every penny acquired in this bull run will get straight back into BTC between here and $20 

[zkay]

sold at 45 buying in if we break 50 or 30

+1

I sold at 43$

Excellent strategy, covered both ways! I think I will try to stick to this too, but I might move the low end up to $33 just because that was the low the other day.

As far as the long haul investment goes, I am right there with all of you! I am simply trying to expand my USD holdings in order to then turn around and turn them into BTC.

Thank you for the thoughtful replies, everyone.

Every penny acquired in this bull run will get straight back into BTC between here and $20 

And why not? Even with a crash of that magnitude, it has performed great!

Though if I get over a certain amount, I intend to either buy a firearm or a refridgerator, not quite sure which yet.

[Severian]

My feeling is you either believe in Bitcoin or you don't.  Invest what you can afford to lose, we're still in the early adoption phase for 99% of the population.  You can take profits now but really, what is a few hundred or thousand dollars going to do for you?

I'm also buy and hold but we do have to recognize that the short term speculators add liquidity to Bitcoin and are helping to push up the price overall. Even when the price tanked into the 30's the other day, many still didn't lose any of the gains in their holdings. We're all speculating on this anyway when it comes down to it.

[samson]

I'm going to wait until late Sunday and then I might buy back in depending on how it looks.

All over these forums everyone's been talking about the massive weekend dip / crash / correction. So far there's been nothing apart from a seemingly controlled fluctuation around the $44 - $46 range.

[jwzguy]

After all, if it's going to the stars, what's a few percent profit?

I am not advising a change in your strategy, however, you may want to think a little more carefully about this bit.

If it's going to the stars, a few percent ends up being HUGE. If it doesn't go up much, -then- a few percent won't be a significant amount of actual value.

[Wekkel]

It won't go up forever like this. In terms of risk/reward, it is always better to get in at a low assuming that BTC will always go up in the near future. Currently, all indicators are red hot, so if you have balls you could wait a little longer before stepping in. Remember, sellers have the same fear, but the other way around (should I sell now or will the price increase?).

Things that cannot go on, will not go on. This extreme rise in price will end sometime; the indicators will cool off in some form of price correction. I will be ready.

[mccorvic]

Things that cannot go on, will not go on. This extreme rise in price will end sometime; the indicators will cool off in some form of price correction. I will be ready.

While true, it's also been true since December. 

[conspirosphere.tk]

Things that cannot go on, will not go on.

Yes, but the question is if the price will stabilize somewhere or we will move from panic buying to panic selling in a flash (e.g. crash).
I suspect the second, if this bull-run is mostly speculators-fueled.

[Spaceman_Spiff]

I have a feeling that the boom is coming from both professional investors starting to look into bitcoin after it has gained credibility and small-timers looking to get quick rich while hardly knowing anything about bitcoin or monetary policy. 
The last are weak hands, the prior group is getting new loads of money into the bitcoin system that will probably stay there for a long time.

[zkay]

It won't go up forever like this. In terms of risk/reward, it is always better to get in at a low assuming that BTC will always go up in the near future. Currently, all indicators are red hot, so if you have balls you could wait a little longer before stepping in. Remember, sellers have the same fear, but the other way around (should I sell now or will the price increase?).

Things that cannot go on, will not go on. This extreme rise in price will end sometime; the indicators will cool off in some form of price correction. I will be ready.

And this is my fear. I am ready to dive in, but just don't want to be the guy that bought in at $49 this last time or $32 in 2011. Yes, bitcoin is going up in the future, but wouldn't we all like to make money between now and then?

[mccorvic]

It won't go up forever like this. In terms of risk/reward, it is always better to get in at a low assuming that BTC will always go up in the near future. Currently, all indicators are red hot, so if you have balls you could wait a little longer before stepping in. Remember, sellers have the same fear, but the other way around (should I sell now or will the price increase?).

Things that cannot go on, will not go on. This extreme rise in price will end sometime; the indicators will cool off in some form of price correction. I will be ready.

And this is my fear. I am ready to dive in, but just don't want to be the guy that bought in at $49 this last time or $32 in 2011. Yes, bitcoin is going up in the future, but wouldn't we all like to make money between now and then?

I'm buying and holding/spending and making money. The only way you lose if you try to play the day trader game.

[zkay]

It won't go up forever like this. In terms of risk/reward, it is always better to get in at a low assuming that BTC will always go up in the near future. Currently, all indicators are red hot, so if you have balls you could wait a little longer before stepping in. Remember, sellers have the same fear, but the other way around (should I sell now or will the price increase?).

Things that cannot go on, will not go on. This extreme rise in price will end sometime; the indicators will cool off in some form of price correction. I will be ready.

And this is my fear. I am ready to dive in, but just don't want to be the guy that bought in at $49 this last time or $32 in 2011. Yes, bitcoin is going up in the future, but wouldn't we all like to make money between now and then?

I'm buying and holding/spending and making money. The only way you lose if you try to play the day trader game.

I'm simply searching for the best value. I want to hold bitcoin, there is no question there. The question is at what price do I want to try and acquire them.

If I buy at $48 and it then crashes to $24 (purely hypothetical), I've exhausted what dry powder I had buying coins at twice the price I could have paid.

I realize this is simply the game we're playing and an investment in BTC is risky in itself, but I'm trying to at least make it a calculated risk by attempting to (admittedly, feebly) gauge sentiment through a thread like this.

I rather like the idea of waiting unti Sunday/Monday to see if the gains hold or collapse, then thinking about investing some more.

Keep in mind, my strategy is the way it is because I am way down the food chain economically from a lot of you guys. At the current market price I could afford to buy 2 btc / month to hold. If I can change that to 4 btc by being very careful of when I purchase, this is obviously much better. yes?

[ehoffman]

I think it's better to just hold.  You see, I do have 40BTC and started hypothesizing on the BTC prices, and started to do some daytrading.  I only ended up loosing 8~10 BTC in the process.  You see, you CANNOT predict BTC prices.  At a moment, you think it will go down, you sell, and it continue to raise.  You then don't want to lose your investment, you buy back, and it goes down.  Repeat cycle a few times and you lose a portion of your investment each time.  It's totally chaotic.

You see, today Gox went up and came back down.  I missed an opportunity.  But now it's going up again, and I sold at 46.75.  It's now slowly rising since and touching the 48 mark.  What do I do?  Wait (it will surely go back down)?  What if that's a new low point, and goes for the sky?  Do I buy at loss?  I only hope to recover those lost BTC somehow, so I continue doing it, but you see, the only thing I ended up getting is more gray hairs...  And less BTC in my pocket.  To me it can be as worse as gambling for other persons.  It IS gambling...

[bigbtc]

I think it's better to just hold.  You see, I do have 40BTC and started hypothesizing on the BTC prices, and started to do some daytrading.  I only ended up loosing 8~10 BTC in the process.  You see, you CANNOT predict BTC prices.  At a moment, you think it will go down, you sell, and it continue to raise.  You then don't want to lose your investment, you buy back, and it goes down.  Repeat cycle a few times and you lose a portion of your investment each time.  It's totally chaotic.

You see, today Gox went up and came back down.  I missed an opportunity.  But now it's going up again, and I sold at 46.75.  It's now slowly rising since and touching the 48 mark.  What do I do?  Wait (it will surely go back down)?  What if that's a new low point, and goes for the sky?  Do I buy at loss?  I only hope to recover those lost BTC somehow, so I continue doing it, but you see, the only thing I ended up getting is more gray hairs...  And less BTC in my pocket.  To me it can be as worse as gambling for other persons.  It IS gambling...

Lol. You're doing it totally wrong.

Stop.

[ehoffman]

Lol. You're doing it totally wrong.

Stop.

I know    But as said, it's too chaotic, and I'm just too anger to make quick BTC 

[zkay]

I think it's better to just hold.  You see, I do have 40BTC and started hypothesizing on the BTC prices, and started to do some daytrading.  I only ended up loosing 8~10 BTC in the process.  You see, you CANNOT predict BTC prices.  At a moment, you think it will go down, you sell, and it continue to raise.  You then don't want to lose your investment, you buy back, and it goes down.  Repeat cycle a few times and you lose a portion of your investment each time.  It's totally chaotic.

You see, today Gox went up and came back down.  I missed an opportunity.  But now it's going up again, and I sold at 46.75.  It's now slowly rising since and touching the 48 mark.  What do I do?  Wait (it will surely go back down)?  What if that's a new low point, and goes for the sky?  Do I buy at loss?  I only hope to recover those lost BTC somehow, so I continue doing it, but you see, the only thing I ended up getting is more gray hairs...  And less BTC in my pocket.  To me it can be as worse as gambling for other persons.  It IS gambling...

There seems to be some consensus that this coming monday, 3/11/13, is a turning point. With new money coming in, we will either get a massive run up, or a decline from people holding trying to sell to the new buyers. Right now we are in limbo; no one has any way of knowing what will happen before then.

Will speculators continue to buy until Sunday night, in order to have more BTC on hand to sell to the new buyers on Monday? Or will some piece of news or a rumor or a general emotion take hold over enough holders and they'll sell before the price falls Monday?

Will enough new money and demand show up on Monday to override any sell off that may occur? At what point does the tide turn?

Many questions, few answers. As time goes on, the answers will either reveal themselves or at least become less vague. This is my rationale behind waiting until at least Sunday night before buying in. Buying now, to me, is more emotional than based in reason. Emotional in that there is simply hope that enough new buy orders will show up monday to keep the price where it is or drive it up. Waiting for this to confirm itself, or at least become more likely, seems more reasoned to me.

And if it does go up a few dollars and the gains either hold or continue Monday? I've only lost out on a few dollars per coin, which won't amount to much if the price continues up.

[zkay]

I should add that I do have buy orders in above $50, with the thinking that if it breaks $50, it will continue up at a rapid pace.

[jonitas]

I sold some bitcoins at $44, I got my initial investment out of it. So no need to feel bad if the price goes up or down, now it's all pure profit. When the bubble pops I'll probably get in again at some point.

[Dargo]

sold at 45 buying in if we break 50 or 30

+1

I sold at 43$

Excellent strategy, covered both ways! I think I will try to stick to this too, but I might move the low end up to $33 just because that was the low the other day.

As far as the long haul investment goes, I am right there with all of you! I am simply trying to expand my USD holdings in order to then turn around and turn them into BTC.

Thank you for the thoughtful replies, everyone.

Every penny acquired in this bull run will get straight back into BTC between here and $20 

And why not? Even with a crash of that magnitude, it has performed great!

Though if I get over a certain amount, I intend to either buy a firearm or a refridgerator, not quite sure which yet.

Refrigerator for your beer if it goes up, and firearm if it tanks?

Refrigerator ---> encase your offline wallet in solid block of ice, hide in freezer (added bonus: protected in case of fire, sort of).

Firearm ---> you will C-I-L-L anyone who tries to take your wallet (alluding to old SNL skit here - google "C-I-L-L my landlord" if not familiar).

[zkay]

sold at 45 buying in if we break 50 or 30

+1

I sold at 43$

Excellent strategy, covered both ways! I think I will try to stick to this too, but I might move the low end up to $33 just because that was the low the other day.

As far as the long haul investment goes, I am right there with all of you! I am simply trying to expand my USD holdings in order to then turn around and turn them into BTC.

Thank you for the thoughtful replies, everyone.

Every penny acquired in this bull run will get straight back into BTC between here and $20 

And why not? Even with a crash of that magnitude, it has performed great!

Though if I get over a certain amount, I intend to either buy a firearm or a refridgerator, not quite sure which yet.

Refrigerator for your beer if it goes up, and firearm if it tanks?

Refrigerator ---> encase your offline wallet in solid block of ice, hide in freezer (added bonus: protected in case of fire, sort of).

Firearm ---> you will C-I-L-L anyone who tries to take your wallet (alluding to old SNL skit here - google "C-I-L-L my landlord" if not familiar).

Haha, nice! I like it! From way back.

Here's the link for anyone interested: http://www.liveleak.com/view?i=04c_1264707528

And yes, I just happen to need both a fridge and a firearm. An ice storm took out my fridge, and I've just wanted to get a gun for a long time.

[KTE]

My buys in 2013

Jan 24th @ €14.2 - http://www.bitcoincharts.com/charts/mtgoxEUR#rg60zczsg2013-01-24zeg2013-01-26ztgSzm1g10zm2g25
Feb 13th @ €18.8 - http://www.bitcoincharts.com/charts/mtgoxEUR#rg60zczsg2013-02-13zeg2013-02-14ztgSzm1g10zm2g25
Mar 6th @ €36.6 - http://www.bitcoincharts.com/charts/mtgoxEUR#rg60zczsg2013-03-06zeg2013-03-07ztgSzm1g10zm2g25

See the pattern? I didn't flinch at any point, no sells. Just have a strategy and follow it. Have discipline, don't think you can predict the future, and don't rely on predictions on some wacky forum on the net either.

[EnergyVampire]

I think it's better to just hold.  You see, I do have 40BTC and started hypothesizing on the BTC prices, and started to do some daytrading.  I only ended up loosing 8~10 BTC in the process.  You see, you CANNOT predict BTC prices.  At a moment, you think it will go down, you sell, and it continue to raise.  You then don't want to lose your investment, you buy back, and it goes down.  Repeat cycle a few times and you lose a portion of your investment each time.  It's totally chaotic.

You see, today Gox went up and came back down.  I missed an opportunity.  But now it's going up again, and I sold at 46.75.  It's now slowly rising since and touching the 48 mark.  What do I do?  Wait (it will surely go back down)?  What if that's a new low point, and goes for the sky?  Do I buy at loss?  I only hope to recover those lost BTC somehow, so I continue doing it, but you see, the only thing I ended up getting is more gray hairs...  And less BTC in my pocket.  To me it can be as worse as gambling for other persons.  It IS gambling...

Lol. You're doing it totally wrong.

Stop.

LMAO!!! This is the funniest post I've read on this forum in at least 6 months. Good stuff mates +1

[CurbsideProphet]

Keep in mind, my strategy is the way it is because I am way down the food chain economically from a lot of you guys. At the current market price I could afford to buy 2 btc / month to hold. If I can change that to 4 btc by being very careful of when I purchase, this is obviously much better. yes?

Dollar cost average. 

[kingcrimson]

I think it's better to just hold.  You see, I do have 40BTC and started hypothesizing on the BTC prices, and started to do some daytrading.  I only ended up loosing 8~10 BTC in the process.  You see, you CANNOT predict BTC prices.  At a moment, you think it will go down, you sell, and it continue to raise.  You then don't want to lose your investment, you buy back, and it goes down.  Repeat cycle a few times and you lose a portion of your investment each time.  It's totally chaotic.

You see, today Gox went up and came back down.  I missed an opportunity.  But now it's going up again, and I sold at 46.75.  It's now slowly rising since and touching the 48 mark.  What do I do?  Wait (it will surely go back down)?  What if that's a new low point, and goes for the sky?  Do I buy at loss?  I only hope to recover those lost BTC somehow, so I continue doing it, but you see, the only thing I ended up getting is more gray hairs...  And less BTC in my pocket.  To me it can be as worse as gambling for other persons.  It IS gambling...

It is all gambling and luck, anyone who says different just got lucky

[Notanon]

I might wait to see if it stabilises so I can buy a couple and chuck them straight into a pyramining account.

[Ichthyo]

I think it's better to just hold.  You see, I do have 40BTC and started hypothesizing on the BTC prices, and started to do some daytrading.  I only ended up loosing 8~10 BTC in the process.  You see, you CANNOT predict BTC prices.  At a moment, you think it will go down, you sell, and it continue to raise.  You then don't want to lose your investment, you buy back, and it goes down.  Repeat cycle a few times and you lose a portion of your investment each time.  It's totally chaotic.

If you want to do daytrading, you need some money reserve and you need to be willing to take some losses, without getting nervous and jumping ship. You need to stay calm, place your bet and see it work out or not. Otherwise you will just burn money with day trading.

If you only want to do some moderate trading, better go explicitly for a very simple strategy, like e.g. market following (e.g. go all in and all out whenever EMA 13 and EMA 21 cross). But don't jump around nervously and dont try to anticipate what's right behind the next corner.

If you want a still more conservative strategy, buy in cost averaging and just hold.

[ehoffman]

If you want to do daytrading, you need some money reserve and you need to be willing to take some losses, without getting nervous and jumping ship. You need to stay calm, place your bet and see it work out or not. Otherwise you will just burn money with day trading.

If you only want to do some moderate trading, better go explicitly for a very simple strategy, like e.g. market following (e.g. go all in and all out whenever EMA 13 and EMA 21 cross). But don't jump around nervously and dont try to anticipate what's right behind the next corner.

If you want a still more conservative strategy, buy in cost averaging and just hold.

I've stopped doing daytrading...  to chaotic... and I'm too nervous!  Well, I started on my national exchange (Virtex Canada), but with 3% fees it was way too much, so I moved to Mt.Gox.  Even if I can't easily send/receive fiat from/to Canada, it's good if you just want to daytrade, volume-wise and fee-wise.  I can accept a loss and only get a scratch on my BTC count!

Meanwhile, I got my BTC back by trading some to LTC when it was 0.005, and bought back LTC->BTC the next day at 0.0075   It continues to go higher, but I've stop touching LTC now, too volatile, too high!