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Author Topic: Must... resist... urge... to sell...  (Read 2523 times)
ehoffman
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March 20, 2013, 09:18:13 PM
 #1

I have transaction to Mt. Gox, no confirmation yet Shocked

Too tempting to sell...  But I did that 2 days ago and I ended up buying back at small loss, it just didn't go down  Tongue

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Brushan
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March 20, 2013, 09:19:41 PM
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I don't think it will in a near future. Just hold on to them and watch your wealth grow  Grin
deathcode
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March 20, 2013, 09:22:43 PM
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Why would you sell?
If you're in it since January (Not that long at all) you're up 500% already...
even if BTC goes down to $30 you're still making 200% or more on your money...
There is no reason to sell at all unless of course you need the USD for non BTC transactions.

ehoffman
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March 20, 2013, 09:23:11 PM
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Yeah, last time, when it nailed 60, it did just like now.  It retracted a bit to 55, and sat quietly there until going up again...

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mccorvic
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March 20, 2013, 09:24:21 PM
 #5

If you sell, you will be sad.

If you like to be sad, then please sell.

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ehoffman
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March 20, 2013, 09:24:28 PM
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Why would you sell?
If you're in it since January (Not that long at all) you're up 500% already...
even if BTC goes down to $30 you're still making 200% or more on your money...
There is no reason to sell at all unless of course you need the USD for non BTC transactions.

Ahh. the daytrader in me...  Want to sell before crash, buy 20~30% lower...  Bad me... bad...

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nobbynobbynoob
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March 20, 2013, 09:28:11 PM
 #7

I've sold my BTC during rallies... for LTC. Grin

But right now I feel no urge to trade BTC for fiat, same goes for vice versa. It's good just to watch.

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humanitee
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March 20, 2013, 09:29:30 PM
 #8

Why would you sell?
If you're in it since January (Not that long at all) you're up 500% already...
even if BTC goes down to $30 you're still making 200% or more on your money...
There is no reason to sell at all unless of course you need the USD for non BTC transactions.

Ahh. the daytrader in me...  Want to sell before crash, buy 20~30% lower...  Bad me... bad...

Whatever man, you can buy %100 lower if you SELL RIGHT NOW. Listen to that illogical part of your brain, he's totally right.

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mccorvic
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March 20, 2013, 09:29:51 PM
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I've sold my BTC during rallies... for LTC. Grin

Please tell me what it's like to make a terrible investment. I'm curious.  

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March 20, 2013, 09:31:08 PM
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ineededausername
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March 20, 2013, 09:38:29 PM
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Yesterday I was tempted to sell at $55, because I thought that the 49->32 crash would happen again and it would go to 45.  Nope... so then it hit 60 and I thought the same thing again, but it kept going.  I'm really glad I held...

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nobbynobbynoob
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March 20, 2013, 09:45:56 PM
 #12

I've sold my BTC during rallies... for LTC. Grin

Please tell me what it's like to make a terrible investment. I'm curious.  

Buying Ł >> buying fiat

Ł went up about 500% versus BTC not so long ago - right after a massive BTC rally! Go figure.

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deathcode
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March 20, 2013, 09:46:27 PM
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Yesterday I was tempted to sell at $55, because I thought that the 49->32 crash would happen again and it would go to 45.  Nope... so then it hit 60 and I thought the same thing again, but it kept going.  I'm really glad I held...

You know it's going to continue to go up, despite the occasional correction, so before selling, think if it's worth it to risk it.

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March 20, 2013, 09:47:09 PM
 #14

If you are in this for the long term, price fluctuations don't matter. These fireworks, flashy as they are, are too short-term to have anything to do with your investment.

If you are a day-trader with a strategy, that strategy is your sword and shield, and to the extent that you break from it, you are surrendering your profits.

If you are a day-trader without a strategy, nothing I can say will save you.

In an unpredictable market, emotion is your enemy.
Silence your gut and stick to the plan.

If there is something that will make Bitcoin succeed, it is growth of utility - greater quantity and variety of goods and services offered for BTC. If there is something that will make Bitcoin fail, it is the prevalence of users convinced that BTC is a magic box that will turn them into millionaires, and of the con-artists who have followed them here to devour them.
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March 20, 2013, 09:49:03 PM
 #15

If you are in this for the long term, price fluctuations don't matter. These fireworks, flashy as they are, are too short-term to have anything to do with your investment.

If you are a day-trader with a strategy, that strategy is your sword and shield, and to the extent that you break from it, you are surrendering your profits.

If you are a day-trader without a strategy, nothing I can say will save you.

In an unpredictable market, emotion is your enemy.
Silence your gut and stick to the plan.
QFT

ehoffman
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March 20, 2013, 09:50:44 PM
 #16

QFT

Ah... Google is my friend...  Just learned a new acronym Smiley

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annette786
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March 20, 2013, 09:54:09 PM
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Thank about all the silly wealth in the world....



archetyp
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March 20, 2013, 11:41:24 PM
 #18



Buying Ł >> buying fiat

Ł went up about 500% versus BTC not so long ago - right after a massive BTC rally! Go figure.


do you know how much bitcoin went up once SR launched?,
because an equivalent for LTC is online.
ehoffman
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March 21, 2013, 10:30:37 AM
 #19

I removed my hand from the trigger.  I moved those BTC to another wallet that I put offline and made copies on USB and other places outside my house (double-encrypted with 15+ characters alphanumeric passwords) and removed from my computer.  So they are safe from hazards and hacking too Smiley

One should always have a backup at different places, and outside his home too (at least, different geographical locations).  If something bad happen, you don't want your sole copy to be inside your computer or house...  You know, anything can happen...  PC frying, fire, electrical jolt/lightning blowing everything in the house, etc.

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Vladimir
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March 21, 2013, 10:34:01 AM
 #20

Sell just enough to take one year vacation somewhere without internet. Then reassess.

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