Lost money both on recent rice and fall lol

[ashapasa]

Thought recent price rise due to halving and brexit was a sure thing and bought Bitcoin @ $775. The market crashed right after, people said due to Britain predicted to remain. Than in order to recover shorted Bitcoin thinking it will surely fall,  but it did the exact opposite, it rebounded even before the announcement of brexit??  . I was further tempted to buy bitcoins but having been burned twice this week,  decided to stay put, but Bitcoin coin price instead of rising falls  a little ?  I now have learned trying to play the market is foolish.

All prices are factored in before little investors like me are even aware. By the time we get the news it's too late and will only be buying losses.  Better to just hold the coins you believe in and forget the market. It's too smart and has leverage to magnify and small gain or loss to their advantage.

Or maybe I should just do the opposite of what I think is logical 

[SmirkinPepe]

you got whaled

[Wosterlee]

I feel your pain. Some tips:

1. Learn to read charts, this is vital. I made the mistake countless time of buying at the top of a rally and ended up as a bagholder. There was a sell signal somewhere at 740 USD.

2. The markets do not care about you or your perception. If it proves you wrong, you have to be flexible and sell.  BTC and Altcoins are controlled mostly by whales.

3. Most BTC volume originates from China, they don't care about Brexit.

[ashapasa]

I feel your pain. Some tips:

1. Learn to read charts, this is vital. I made the mistake countless time of buying at the top of a rally and ended up as a bagholder. There was a sell signal somewhere at 740 USD.

2. The markets do not care about you or your perception. If it proves you wrong, you have to be flexible and sell.  BTC and Altcoins are controlled mostly by whales.

3. Most BTC volume originates from China, they don't care about Brexit.

Thanks for the advice, I appreciate it. But is it possible to make money long term trading? You seem to have more experience.

[kiklo]

Thought recent price rise due to halving and brexit was a sure thing and bought Bitcoin @ $775. The market crashed right after, people said due to Britain predicted to remain. Than in order to recover shorted Bitcoin thinking it will surely fall,  but it did the exact opposite, it rebounded even before the announcement of brexit??   . I was further tempted to buy bitcoins but having been burned twice this week,  decided to stay put, but Bitcoin coin price instead of rising falls  a little ?  I now have learned trying to play the market is foolish.

Better to just hold the coins you believe in and forget the market.

Why not get a few Proof of Stake coins like ZEIT, Mintcoin , or Noblecoin.

Buy a few million of each, and hold your principle amount and sell the interest.

ZEIT is at 15% per year, will be dropping to 5% in ~6 months.
Mintcoin is at 10% per year, will be dropping to 5% in ~6 months.
Noblecoin is 8% per year.

This way you can wait out the market until your target price is reached or just only sell the interest forever.  

 

[Wosterlee]

I feel your pain. Some tips:

1. Learn to read charts, this is vital. I made the mistake countless time of buying at the top of a rally and ended up as a bagholder. There was a sell signal somewhere at 740 USD.

2. The markets do not care about you or your perception. If it proves you wrong, you have to be flexible and sell.  BTC and Altcoins are controlled mostly by whales.

3. Most BTC volume originates from China, they don't care about Brexit.

Thanks for the advice, I appreciate it. But is it possible to make money long term trading? You seem to have more experience.

I'm not sure what you mean, but I think Bitcoin will go higher then 750 USD this year, unless some incident happens. Long term investors should not look at short term prices.

[freshman777]

Don't try to time this market. Diversify and hold.

[btc_zero_sum]

I feel your pain. Some tips:

1. Learn to read charts, this is vital. I made the mistake countless time of buying at the top of a rally and ended up as a bagholder. There was a sell signal somewhere at 740 USD.

2. The markets do not care about you or your perception. If it proves you wrong, you have to be flexible and sell.  BTC and Altcoins are controlled mostly by whales.

3. Most BTC volume originates from China, they don't care about Brexit.

i agree with n. 1, not much with the rest
charts and good understanding of indicators (you can learn a lot on internet about) can lead you to better performances

another useful suggestion: keep your ass safe with stop-limit orders! 

[raphma]

if you still didn't sell your bitcoin, then grab a beer and relax, it's going to moon from now on.

[vincentvincent]

Don't try to time this market. Diversify and hold.

I feel the same. The market is so hard to predict.

Always when I start thinking of selling it is finding the uptrend and vice versa if I think that the rise will never stop it goes down.

You have to buy when it goes down, stupid feeling but it works that way.
And don't get in at one time: buy some and wait for a week or two and buy some more etc.

[The Sceptical Chymist]

if you still didn't sell your bitcoin, then grab a beer and relax, it's going to moon from now on.

Except that's totally meaningless, as it's what most people say on this forum all the time.  I think OP ought to just stop actively trading.  As was suggested,  timing the market is quite hard without a crystal ball.

[Ipwich]

I had similar experience before. What I learned is not to trade. Just hold the bitcoin for more than 10 years.

[dste123]

Don't try to time this market. Diversify and hold.

Agree with this. Same principles for investing in the regular stock market should generally be followed here...

[bitcoinlitcoinbtcltc]

say ''chiken be merciful, for i was a fag'' 5 times in a row and chiken will grant you redemption and many profits in the near future

[BellaBitBit]

haha, we must have went to the same trading school 

[Wosterlee]

I feel your pain. Some tips:

1. Learn to read charts, this is vital. I made the mistake countless time of buying at the top of a rally and ended up as a bagholder. There was a sell signal somewhere at 740 USD.

2. The markets do not care about you or your perception. If it proves you wrong, you have to be flexible and sell.  BTC and Altcoins are controlled mostly by whales.

3. Most BTC volume originates from China, they don't care about Brexit.

i agree with n. 1, not much with the rest
charts and good understanding of indicators (you can learn a lot on internet about) can lead you to better performances

another useful suggestion: keep your ass safe with stop-limit orders! 

The pump started 6 hours before the outcome of the Brexit was known...

[ashapasa]

haha, we must have went to the same trading school 

Yeah, the school of buy high and sell low 

[Ayers]

lol it was clearly a trap, they think that people think it was for brexit, that's why they pumped it again before brexit, so you won't be able to buy back, i was lucky i dumped at 670 or so but i wasn't expecting either a recover so fast, so i was chilling with the opportunity to buy back at 570, but i said "maybe it will go even lower" instead nope it went almost back and i lost my opportunity for cheap coin, fuck lol

[yefi]

So how many bags did you buy? Was it long grain or Basmati?

[amacar2]

Panic is one that can destroy your whole trading strategy like i got with eth dump however i shorted quite early when news of DAO hack get out as i was not sleeping that time luckily.

Don't buy at peak prices (this is panic buying), and don't sell at 24 hour lower price (this is panic selling)