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Question: When the price of Bitcoin rapidly drops I...
SELL!!!, take my fiat profits and laugh all the way to the bank. - 11 (4.4%)
Sell, hoping to buy back in at a lower price. - 20 (8.1%)
Yawn, keep calm, and carry on. I'm in this for the long haul. - 122 (49.2%)
Buy, thankful I kept some $ in my account for just this occasion. - 51 (20.6%)
BUY!!!, sell your wife, sell your kids, mortgage your house, IT's ON SALE! - 28 (11.3%)
Search for a window to jump out of. - 16 (6.5%)
Total Voters: 248

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mokahless
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March 24, 2013, 04:44:15 AM
 #21

Tilt your head to the right. The poll chart is showing you the finger.

My name is Inigo Montoya. The poll chart killed my father. It shall prepare to die.

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Ichthyo
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March 24, 2013, 08:07:17 AM
 #22

I have yet to try the whole sell high, buy low thing.
...
The few times I've run the numbers of timing it "perfectly" only equalled an extra coin or two. The risk of missing it seems too high, IMO, especially when my goals are to see this disruptive technology change how commerce is done.

Agreed, trying to catch the falling knife is more of a gambling game.


If you're more seriously into trading, a classical advice is to pick a simple strategy (the simpler the better) and to stick to this strategy as consistent as possible.

You might find this thread from last year worth reading.
The author of this thread describes a simple strategy to follow the market, and explains why this can be profitable on average.
lukestokes
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March 29, 2013, 04:04:30 AM
 #23

I must admit, today tested my "hold" strategy. I was so tempted to sell and buy back when it was so obvious how many people were onboard with the sell/buy strategy. I ran the numbers for the percentage of my coin I would have been willing to sell and even if I timed it perfectly, I probably would have only netted a few extra coin. Don't get me wrong, a single BTC is worth a lot of money to me, I'm just not sure it's worth the effort (or worth adding to the volatility of a swing by contributing in the mania).

http://www.foxycart.com: Helping developers create flexible, powerful, custom ecommerce in less time, while equipping merchants with the fastest checkout flow available to their customers. 60+ payment gateways, including Bitpay. Bitrated user: lukestokes.
notme
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March 29, 2013, 05:55:52 AM
 #24

I have yet to try the whole sell high, buy low thing.
...
The few times I've run the numbers of timing it "perfectly" only equalled an extra coin or two. The risk of missing it seems too high, IMO, especially when my goals are to see this disruptive technology change how commerce is done.

Agreed, trying to catch the falling knife is more of a gambling game.


If you're more seriously into trading, a classical advice is to pick a simple strategy (the simpler the better) and to stick to this strategy as consistent as possible.

You might find this thread from last year worth reading.
The author of this thread describes a simple strategy to follow the market, and explains why this can be profitable on average.


It's worth the effort, but it might not be worth the risk that it doesn't work out exactly as planned.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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Zangelbert Bingledack
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March 29, 2013, 03:21:00 PM
 #25

And the time spent monitoring the price, and the stress.
lukestokes
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April 11, 2013, 08:03:01 PM
 #26

I have to admit, I deviated from my normal "hold" plan.

I put in a little more USD via bitfloor and bought some BTC. Smiley

You?

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alexh
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April 11, 2013, 08:03:39 PM
 #27

Hold on tight.

zoolander
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April 11, 2013, 09:42:28 PM
 #28

I'll probably spend about a 1/4 of the FIAT I've been holding in the exchange on coins, providing they are 120 or below when I get up. I'll then be watching closely for the longer term trend, either the catch a ride back up, or take more cheap coins on the way down.
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