I sold at $57, fml.

[b!z]

You guys have no idea how bad I am feeling right now.

[drawingthesun]

You guys have no idea how bad I am feeling right now.

How many Bitcoins?

[Missionary]

This is why I don't try to outsmart the market. I only end up outsmarting myself.

Buying, holding, using and promoting. <--- My plan

[Le Happy Merchant]

Never call the top. Never call the bottom.

Hold.

[crazy_rabbit]

You guys have no idea how bad I am feeling right now.

Pick a number. Rise watch repeat.

[viboracecata]

You still have time to prove you sell at the right price.

[xorglub]

I sold at 3 in 2011  

Think of it this way : if you buy back at price X, it's like if you had bought at price X*X/57. eg now at 80, you need the price to reach 112 to break even.

Lessons learned the hard way... when in doubt, stay out.

[glub0x]

You guys have no idea how bad I am feeling right now.

i have a very good idea

[b!z]

You guys have no idea how bad I am feeling right now.

How many Bitcoins?

I bought coins from $3 to $200.
You can imagine that it wasn't a few coins.

[smoothie]

If you are going to sell. Sell in small increments over time. Not all at once.

If you average your price over months you will get a better deal more than likely.

[drawingthesun]

Set a buy order at $70 perhaps? The chance it does not hit $70 this or next week at all is small. It will most likely go lower than $70 if it hits $70 but you got to hold after that, because after a year it will go above $70, but its a long game.

If you lost because you were trying to day trade, be-careful day trading them back. If you tilt that's when you lose money.

[ManBearPig]

First of all, $70 will be tested at some point, I think you could get some at $76 today.

That's not much of a slip in the long-term.

You KNOW where the market is headed from here right?

I've made worse screw-ups but have doubled my bitcoins in the last few days.

[Gordonium]

Never call the top. Never call the bottom.

Hold.

That is what I am doing.

[drawingthesun]

First of all, $70 will be tested at some point, I think you could get some at $76 today.

That's not much of a slip in the long-term.

You KNOW where the market is headed from here right?

I've made worse screw-ups but have doubled my bitcoins in the last few days.

I didn't double but I gained about 15 day trading, I sent the coins out of the exchange now though, its taking too much time away from assignments.

[dg2010]

Never call the top. Never call the bottom.

Hold.

Don't think you have the first idea what you are talking about.

I've been buying and selling all the way up and down. I lost a bit on the big slump but I've been trading from 60-80 for the past 48hrs and have recouped back half of my losses thus far.

So your analysis and conclusion makes no sense.

[Gatekeeper]

selling at $57 was really stupid and if you really don't know what you're doing then you're better off out of Bitcoin. That's the whole thing with the crash, get rid of weak hands.

[xorglub]

Never call the top. Never call the bottom.

Hold.

Don't think you have the first idea what you are talking about.

I've been buying and selling all the way up and down. I lost a bit on the big slump but I've been trading from 60-80 for the past 48hrs and have recouped back half of my losses thus far.

So your analysis and conclusion makes no sense.

Yes but every position increases your risk. So for some (most) people it's just better to hold.

[Mageant]

I would just wait for now.
My guess is that it will continue trading around this price now.
Maybe it will dip below $57 again.

[arepo]

If you are going to sell. Sell in small increments over time. Not all at once.

If you average your price over months you will get a better deal more than likely.

this isn't as much of a winning strategy as it is a hedging strategy. say you're going long: you can dollar cost average all you want, but you won't be able to consistently get a better price than your first price. however, you're more likely to get a better price if your first price is higher-than-average.

[Le Happy Merchant]

So your analysis and conclusion makes no sense.

The original poster of this thread sold at $57. If he had held, he would be better off right now.

Sometimes people get it right, congratulations. Sometimes people get it wrong, and there should be no shame attached. But the average of both cases is what you get when you hold.

I would rather have average returns than risk them for more, and get less. It comes down to how you want to play the game. I've been playing since I was eleven, and I've never lost.