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phoenix1
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May 08, 2013, 01:19:28 AM |
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I have just bought the BTC at $112.5, it's not worth cutting my losses at $110
I really don't think it will drop much below $110 again any time soon, so I'd rather not risk it.
Hope you don't mind the edit  That's fair enough ... so long as you have a level in mind at which you would cut IMO ... cutting for much under $2 would also be a pretty bad strategy with this much volatility. It ain't easy, that's for sure ... Good luck to you  |
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smoothie
Legendary
 Offline
Activity: 2492
Merit: 1473
LEALANA Bitcoin Grim Reaper
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May 08, 2013, 01:22:28 AM |
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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:  So you felt like a little girl? LOL hahahah this is some funny shit  |
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oroboras
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May 08, 2013, 01:23:20 AM |
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No, it's what I felt.
Really scared and sad.
Ahh, ok. Don't be scared of me though, be scared of Bulls & Bears, and Dead Cats... I guess I failed hard when I bought in - but that's history. I have recouped my losses, and I'm striving upwards and onwards! Any yeah, I have my goals and targets, and am now sticking to them - I refuse to panic! (much) |
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Frozenlock
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May 08, 2013, 01:26:32 AM |
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1 min lag after a 0.7 BTC transaction...
Lag attack?
Bots are moving?
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fitty
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May 08, 2013, 01:27:36 AM |
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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  Very impressed by your determination and honesty. A lot of BS fills this sub-forum it's cool to hear from a regular guy trying to make some money. Don't worry about not being an expert, no one really has a clue where BTC is going. The more you trade, the more you watch, you do get a feel for it. Opportunities come all the time. Don't force it if you just miss one. Consider making a thread logging your journey, trades, ups and downs. It's interesting and can be helpful for you and people might have wisdom to share. |
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phoenix1
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May 08, 2013, 01:29:51 AM |
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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 Very impressed by your determination and honesty. A lot of BS fills this sub-forum it's cool to hear from a regular guy trying to make some money. Don't worry about not being an expert, no one really has a clue where BTC is going. The more you trade, the more you watch, you do get a feel for it. Opportunities come all the time. Don't force it if you just miss one. Wise words indeed And +1 re the honesty and determination |
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oroboras
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May 08, 2013, 01:30:20 AM |
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I might do that... you never know, I may get tips too XD
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telemaco
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May 08, 2013, 01:50:44 AM |
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If we bounce of 110 where do you think we will fall to? 97 was the low earlier.
Tan tan taaannn!The singularity is near! As others pointed out:  It's "DAN DAN DAAAAAANN!" is that horrible triangle going up or down?? |
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NamelessOne
Legendary
Offline
Activity: 840
Merit: 1000
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May 08, 2013, 01:51:50 AM |
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HAHA 230 up, 230 down. Always gotta wonder if it is a mistake, or simply someone buying up so they can sell down immediately, hoping the price will drop.
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Frozenlock
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May 08, 2013, 01:56:33 AM |
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God this is tense.
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hmmmstrange
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May 08, 2013, 01:57:02 AM |
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Damm lag. If it wasn't for the idiots lagging gox it would be down to 90 already. Stop lagging so we can get our cheap coins!
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Frozenlock
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May 08, 2013, 01:58:02 AM |
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How can the lag prevent the price from going down?  |
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fitty
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May 08, 2013, 01:58:06 AM |
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A hero has stepped forward on team green (or maybe everyone else just stepped back). Fireworks soon?
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telemaco
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May 08, 2013, 02:00:15 AM |
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No decisive movement yet, eh? Alright then, summary time. (sorry for the sloppy style, this is more or less stream of consciousness)
Ignoring the possibility of continuation of the horizontal trend (that'd be boring), what are arguments in favor of continuation of the correction, i.e. downwards trend (red line in my previous chart) vs. continuation of upwards trend (green line)
(1) forum sentiment: cautiously bullish ("I'll buy for sure when we get lower") seems to be quite prevalent
(2) post bubble, volume on the way down was significantly higher than on the way up. suggests selling pressure, but could also mean sellers are running out of ammo.
(3) EMAs: D1, H4 undecided (just crossed over from above), H1 still bearish, but tendency towards crossover from below.
(4) total trading volume (in USD) is maybe on the low end for what is necessary to support the long-term upwards trend. (pointed out by WackyWilly)
(5) re: converging trendlines, as pointed out by 100x, me, and others: post-bubble, bit more evidence for the downward trend (3 vs 2 points of contact)
(6) If supporting trend (green line in my chart) = January 9 long-term expon. trend, then we're a bit ahead, should be hitting 100 only mid-May.
(7) order book (yes, I know, fake walls everywhere): total bid/total ask: 105. average of price if all sold at current prices, all bought at current prices: 120.5
pro bull: 1, 7
pro bear: 2, 3, 4, 5, 6.
Hmmm... I don't like the way my own summary looks. My gut tells me we should be going up, but my little collection of evidence points to continuation of the correction.
/pseudoscience
6 could be pro bull no?... converging on 100, and next week is mid May 5 could change also H4 and D1 are always too late for a too fast moving market like this. When they signal bearish we are almost changing trend. |
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Frozenlock
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May 08, 2013, 02:00:27 AM |
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Yup, fireworks soon.  |
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hmmmstrange
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May 08, 2013, 02:04:15 AM |
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Stop with lagging the gox price up, i need it to drop 25% so i can get my $90 coins back.
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oroboras
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May 08, 2013, 02:04:47 AM |
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Climbing too steeply - I expect a bit of a drop now, maybe down to $110 - I hope so!
EDIT: $90 would be very nice! - but highly unlikely tonight I think.
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ChartBuddy
Legendary
Offline
Activity: 2156
Merit: 1745
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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May 08, 2013, 02:08:17 AM |
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StevenPine
Newbie
Offline
Activity: 44
Merit: 0
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May 08, 2013, 02:10:33 AM |
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The lag is pretty silly, I don't know wy Mt.Gox puts up with people putting up bids of 0.01 @ 0.01 and then removes them, it's obvious spam to lag the server, they should at least throttle bids and asks that are far outside the range of current spot.
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hmmmstrange
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May 08, 2013, 02:10:55 AM |
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I'm buying back in now at a huge loss. These guys lagging gox are going to push it up to $125. Gox really needs to put an end to this exploit.
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