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

[Vycid]

My intention is to warn you guys to practice proper risk management because inevitably, even with a small investment, your Bitcoin allocation will be the main source of your wealth. Marginal utility of wealth dictates that it's more important to secure your first million than to make another.

I've seen it go down from 32 to 2 and it was a really bullish environment too until about 14. Don't fool yourself thinking it can't happen again today. That's just the nature of humans.

I really do appreciate you saying this, honestly, even if my reaction is to disagree. It gets really group-thinky around here sometimes and I'm glad you're thinking independently.

I'm sure you deserved your fortune.

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[N12]

Yes, we can't have someone sometimes be bullish and other times be bearish. That is heresy.

I'm sure you deserved your fortune.

Thanks, it was a hard process to separate myself from faulty ideas to learn trading.

[NamelessOne]

My intention is to warn you guys to practice proper risk management because inevitably, even with a small investment, your Bitcoin allocation will be the main source of your wealth. Marginal utility of wealth dictates that it's more important to secure your first million than to make another.

I've seen it go down from 32 to 2 and it was a really bullish environment too until about 14. It was a long drawn out process with countless bull traps over the course of 6 months. Don't fool yourself thinking it can't happen again today. That's just the nature of humans.

Oh I remember those days, I found it painful as hell but at $2 I loaded up with more BTC than I ever imagined I'd have.

[Nightowlace]

If your life savings is only $10,000 that may be emergency medical money for your family, money set aside over the last 10 years because you may need a new roof, or furnace for your house etc. is not a lot of savings. Or you could have borrowed against your 401k. $10,000 is not changing anyone's life and it damn sure doesn't mean you're not living paycheck to paycheck.

Well then it's pretty damn stupid to put that money into BTC ... probably the most volatile and risky asset on the planet right now.

And lets get real here .... its this really about 'them' or about your poor trading skills and the idiot you feel for bragging to your friends before it corrected ?
I really think you should consider seeing a therapist dude and stop projecting your sh*t onto everyone else

Seriously you think I'm mad about a post I mad on FB haha. I wouldn't consider quadrupling my BTC and cashing out at $65 more than I paid for it bad trading. I've made a lot of good money in BTC but this round I have definitely sat out. I wasn't sold on the speculation and I still believe we have a long ways to go before mass adoption and a real significant reason to back up the price. I believe BTC should be in the $150 range. There is nothing to support any higher of a price.

[herzmeister]

Lower-classed systemic risks: in high-yield markets, be sure not to restructure them.

[CryptStorm]

My intention is to warn you guys to practice proper risk management because inevitably, even with a small investment, your Bitcoin allocation will be the main source of your wealth. Marginal utility of wealth dictates that it's more important to secure your first million than to make another.

I've seen it go down from 32 to 2 and it was a really bullish environment too until about 14. Don't fool yourself thinking it can't happen again today. That's just the nature of humans.

+1
I, for one, gotta say thanks for this comment, Blitz. I'm new to this forum but really appreciate your comments here-- I know that I certainly have ridiculously risky appetite, despite a fairly good knowledge (for a non-pro trader) of position sizing and risk allocation. Do I properly size my positions, do I use a trailing stop, do I take profits appropriately, and cut losses every time? Certainly, I feel like these are my weakest areas. Finding BTC is probably the hard part. Now that I'm here, I should really exert those controls and be patient.

Do you have any more suggestions on/about BTC risk management? (excuse me, as I haven't read back through the last 20 pps)

Cheers!

[lemonte]

I believe BTC should be in the $150 range. There is nothing to support any higher of a price.

What makes you say that?

[San1ty]

I find it strange that bitstamp is so close to gox now. There used to be a 100 points gap. What changed?

[Vycid]

I find it strange that bitstamp is so close to gox now. There used to be a 100 points gap. What changed?

Seventh circle of hell opened up, we're going to $2. At least that's what I gathered from the last few pages

 

I'm very tired and should not be trading this much money

[CryptStorm]

Lower-classed systemic risks: in high-yield markets, be sure not to restructure them.

Say this again, but this time could you pretend you're talking to a smart 6 year old, please?

(or: How would one errantly restructure a lower-classed systemic risk, if I got that right)

[herzmeister]

Lower-classed systemic risks: in high-yield markets, be sure not to restructure them.

Say this again, but this time could you pretend you're talking to a smart 6 year old, please?

(or: How would one errantly restructure a lower-classed systemic risk, if I got that right)

The wise trader these days will always cover subordinate-rated asset pools.

[San1ty]

I find it strange that bitstamp is so close to gox now. There used to be a 100 points gap. What changed?

Seventh circle of hell opened up, we're going to $2. At least that's what I gathered from the last few pages

 

I'm very tired and should not be trading this much money

Haha . Yeah this thread is fun to read!
Me too, I'd like to decide and position myself and then look away for a couple of hours.

Still feels bearish to me.

[CryptStorm]

I find it strange that bitstamp is so close to gox now. There used to be a 100 points gap. What changed?

Seventh circle of hell opened up, we're going to $2. At least that's what I gathered from the last few pages

 

I'm very tired and should not be trading this much money

tl;dr I slept, you should too. If I had to *speculate*: We are prolly goin to 290-320 in the next 5-20 hours, with one more peak up to 400 something (300 to 450 is +50% yo); if that works out, then maybe a long pitiful drop (sideways noise) to that same low in a month or 3.

[haightst]

My intention is to warn you guys to practice proper risk management because inevitably, even with a small investment, your Bitcoin allocation will be the main source of your wealth. Marginal utility of wealth dictates that it's more important to secure your first million than to make another.

I've seen it go down from 32 to 2 and it was a really bullish environment too until about 14. It was a long drawn out process with countless bull traps over the course of 6 months. Don't fool yourself thinking it can't happen again today. That's just the nature of humans.

Oh I remember those days, I found it painful as hell but at $2 I loaded up with more BTC than I ever imagined I'd have.

mannn~you have any of those left?  

[San1ty]

Lower-classed systemic risks: in high-yield markets, be sure not to restructure them.

Say this again, but this time could you pretend you're talking to a smart 6 year old, please?

(or: How would one errantly restructure a lower-classed systemic risk, if I got that right)

The wise trader these days will always cover subordinate-rated asset pools.

Exatly, combine that with Fibonacci Retracements based on a refactoring of the singularity in a quantum matrix!

[chrsjrcj]

My intention is to warn you guys to practice proper risk management because inevitably, even with a small investment, your Bitcoin allocation will be the main source of your wealth. Marginal utility of wealth dictates that it's more important to secure your first million than to make another.

I've seen it go down from 32 to 2 and it was a really bullish environment too until about 14. It was a long drawn out process with countless bull traps over the course of 6 months. Don't fool yourself thinking it can't happen again today. That's just the nature of humans.

Yeah these boom/bust cycles are less painful if you only buy a certain amount every week, bi-weekly, or monthly. Dollar cost averaging with bitcoin, especially over a long period of time, is the only way to go IMO.

[Vycid]

Lower-classed systemic risks: in high-yield markets, be sure not to restructure them.

Say this again, but this time could you pretend you're talking to a smart 6 year old, please?

(or: How would one errantly restructure a lower-classed systemic risk, if I got that right)

The wise trader these days will always cover subordinate-rated asset pools.

Exatly, combine that with Fibonacci Retracements based on a refactoring of the singularity in a quantum matrix!

But don't forget to apply the ladder operator to the oscillation in that Hilbert space!

[Richy_T]

CampBX delayed their introduction of ACH deposits until a week from now.

So much fail all around the exchanges.  

Maybe some day we'll have an exchange that it's not a fucking joke.  

Exchanges are obsolete. They're just trading on inertia.

[CryptStorm]

Lower-classed systemic risks: in high-yield markets, be sure not to restructure them.

Say this again, but this time could you pretend you're talking to a smart 6 year old, please?

(or: How would one errantly restructure a lower-classed systemic risk, if I got that right)

The wise trader these days will always cover subordinate-rated asset pools.

OK, so you're kicking PPC and Ripple into a lower tranche just because they look funny? (that's a joke)

Actually, that helps, thanks. I get the subordination part, after looking a brief glance at this (http://en.wikipedia.org/wiki/Securitization), what do you mean cover? Are you shorting or buying futures (and thanks for bearing with my ignorance)?

[Richy_T]

I'm going to get a bitcoin dedicated tattoo I think, something like 'dont try to day-trade your shit at it'. Get it tattood in red across both of my hands so I can read it every time I'm about to make a trade.

Please be sure to have someone proof-read it first.