Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[adamstgBit]

What once was resistance, will become support they say.

So you are saying we will hit resistance at just above $120... and support is declining...

lol! good one

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[Dumbastronaut]

What once was resistance, will become support they say.

Dubya tee eff m8?

[Rockford]

[oroboras]

Looks like someone pressed the "Oh he's just bought in, let's drop the price by 4%" button again.
Seriously, it happens every time.

[ChartBuddy]

[Babylon]

Looks like someone pressed the "Oh he's just bought in, let's drop the price by 4%" button again.
Seriously, it happens every time.

I hate that, happens to me too.  It'll follow the same pattern for like 3 cycles, I'll buy in and it'll drop more.  Or I'll sell at what looks like  peak and it'll go up.

Fortunately for me that tends to only be immediately, and an hour or so later i am still coming out ahead.

[Frozenlock]

Looks like someone pressed the "Oh he's just bought in, let's drop the price by 4%" button again.
Seriously, it happens every time.

Quick! Sell before it drops more!  

Inb4 landslide?

[oroboras]

Quick! Sell before it drops more! 

Never! XD
I'm keeping them forever and ever!
Or until they gain a profit, anyway.

[fourkey2001]

Quick! Sell before it drops more! 

Never! XD
I'm keeping them forever and ever!
Or until they gain a profit, anyway.

It will fall more... go below 90 in the next few hours

let the japanese and indians wakeup!

[Frozenlock]

Quick! Sell before it drops more! 

Never! XD
I'm keeping them forever and ever!
Or until they gain a profit, anyway.

Isn't that accumulating losses and cutting profits?

[oroboras]

not really, I still have the same financial value when they return to the price I bought at. AFTER that, I will sell them.

The 'ever and ever' bit was just humour.

[Nightowlace]

Quick! Sell before it drops more! 

Never! XD
I'm keeping them forever and ever!
Or until they gain a profit, anyway.

It will fall more... go below 90 in the next few hours

let the japanese and indians wakeup!

It's almost 10AM in Japan

[phoenix1]

not really, I still have the same financial value when they return to the price I bought at. AFTER that, I will sell them.

The 'ever and ever' bit was just humour.

Same story over and over ... its not a loss if I own a coin ... I just don't get it ... its totally irrational thinking IMO
Cut your losses quick, run your profits as far as you can
That is how to make money trading
Or are you an investor looking to $ average over time ... in which case, fair enough. But that's not trading ...

Quite happy with buying at $100.1 and selling at $111.5 on bitstamp today ... a good day  
I have bad days too - I am not scared to take a loss if I get in at the wrong point ... that way you live to fight another day

IMO you are dead in the long run if you can't cut a wrong trade and run a right one

[Frozenlock]

not really, I still have the same financial value when they return to the price I bought at. AFTER that, I will sell them.

That's exactly cutting your profits and accumulating your losses. 

[phoenix1]

not really, I still have the same financial value when they return to the price I bought at. AFTER that, I will sell them.

That's exactly cutting your profits and accumulating your losses. 

Yup
So many times on this thread I hear the same story of people running a position $10 offside when they were aiming for a $2 profit ... that's INSANE

[oroboras]

Well, I aim for 3% increase in BTC volume per day, so since I have just bought the BTC at $112.5, it's not worth cutting my losses at $110, as it will take longer to recover them.
Anyway, the downward trend seems to have lost momentum, and is turning back upwards.

I'm trying to make my initial buy-in of 6.2 bitcoins* into enough to quit work - I'm at 16.7 now, after 2.5 weeks, so eventually I will manage it - if only I can purchase and sell at the right time for once.

I'd rather take my time, and tread carefully. I have slipped back too many times this week (I had 22.5 BTC at one point, then held cash due to a badly timed sell, as it shot up on the 3rd while I was asleep. I tried to recover by buying in late, just as it peaked again - I lost about $500 that day)

The thing is, I have very limited resources, and I really don't think it will drop much below $110 again any time soon, so I'd rather not risk it.


* I bought those (literally) 15 minutes before it plunged from $250....

[ChartBuddy]

[Frozenlock]

Well, I aim for 3% increase in BTC volume per day, so since I have just bought the BTC at $112.5, it's not worth cutting my losses at $110, as it will take longer to recover them.
Anyway, the downward trend seems to have lost momentum, and is turning back upwards.

I'm trying to make my initial buy-in of 6.2 bitcoins* into enough to quit work - I'm at 16.7 now, after 2.5 weeks, so eventually I will manage it - if only I can purchase and sell at the right time for once.

I'd rather take my time, and tread carefully. I have slipped back too many times this week (I had 22.5 BTC at one point, then held cash due to a badly timed sell, as it shot up on the 3rd while I was asleep. I tried to recover by buying in late, just as it peaked again - I lost about $500 that day)

The thing is, I have very limited resources, and I really don't think it will drop much below $110 again any time soon, so I'd rather not risk it.


* I bought those (literally) 15 minutes before it plunged from $250....

What I felt reading this:

[oroboras]

lol, I hope not!
I am making mistakes, yes, and I know it - but every one I do, I learn from.
Not too well, I know, but I am learning.

I too, want a pink Rolls Royce one of these days

EDIT: I wasn't aiming for sympathy, just stating facts as they were.

[Frozenlock]

No, it's what I felt.
Really scared and sad.