When the price of Bitcoin rapidly drops I...

[mokahless]

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.

[1714797626]

1714797626

[Ichthyo]

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]

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).

[notme]

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.

[Zangelbert Bingledack]

And the time spent monitoring the price, and the stress.

[lukestokes]

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

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

You?

[alexh]

Hold on tight.

[zoolander]

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.