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Author Topic: I feel really dumb  (Read 7649 times)
bassclef
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April 23, 2013, 03:10:28 PM
 #21

My rule of thumb is, if the price isn't where you want it to be, just wait a few days.
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Hermel
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April 23, 2013, 03:19:01 PM
 #22

Would be nice to have a day-trading simulator, based on historic trading data. Might teach many traders a lesson before they try their luck.

Active trading is worth a try on markets that mostrly go sideways, but with an asset like Bitcoin that can raise for weeks without falling, it is very hard to beat "buy & hold".
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April 23, 2013, 03:19:27 PM
 #23

I made a decent amount, but it really is nothing more than gambling.  Very fun, addictive, gambling - but pretty much on par with poker as far as I can tell.  Sure, you can increase your odds considerably by knowing the game, but you're in the end at the mercy of factors outside of your control.

Yep, I think of it as poker too, and poker is the only gambling game I play.

Problem is I lose poker too.

Who doesn't lose though is the house.

The house always takes their cut. Notice how Gox fees are surprisingly similar to a blackjack table...

Wuji
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April 23, 2013, 04:01:03 PM
 #24

Day trader here and up 1600% so far on Bitcoin.  Buy low, sell high.  Use logic, fuck emotion.  Good luck!
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April 23, 2013, 05:35:43 PM
 #25

Welcome to capitalism 101:.... no refunds, no playtime (sandbox mode), no chargebacks, once stolen/lost - forever forgotten, no big .gov welfare and so on. Embrace its flaws best features! Tongue  

FTFY.

THX, i knew i missed something Smiley

elebit
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April 23, 2013, 05:46:48 PM
 #26

I ended up panic buying at 135 thinking that we'd break through the wall. We didn't.

Oh, please. You haven't seen nothing yet, if you think that is a failure. You haven't even lost anything yet, just not played optimal (which absolutely no one does).

It will definitively go over 140, the question is only will it do it straight away, or will it take a dip first? If you believe in the dip then there is money to be earned from selling at a small loss now and then buying in later at a larger profit.

But day trading is a remarkably slippery activity. It's easy to win a few coins here and there on the small movements but then there tends to be larger movements that can quickly erase all your profits. In the larger picture it is indeed a zero-sum activity. One person's winnings is another person's loss.
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April 23, 2013, 09:37:58 PM
 #27

Chill

the

fuck

out
awakening
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April 23, 2013, 09:59:59 PM
 #28

I have made good movement till now day trading.. Anyway, the sell at 27$ waiting for a correction to 20$ to buy again.  Cry
That one took out all the profits made, and I understimated the increase of price.. Never thought It would go to 266$. Anyway, I'm in the game again, making money.
Lose at bitcoins, gains in fiat. Hope to be able to have the same number of coins as I had 4 months ago anyway, now holding coins, but I expect (hope) a crash in the few weeks at least to the near seventies.
If I go near 100-200BTC again, 10% to daytrading and all the others to cold wallet, and lets wait a few years. How stupid I was daytrading with my whole stack into one movement. What a fucking bad bet I made. At least I learnt a lot of things during this 4 months.
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April 23, 2013, 10:18:40 PM
 #29

Buy and hold. Bitcoins is on a long term uptrend, theres no reason to think thats over, just think a bit longer term.

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April 23, 2013, 10:49:41 PM
 #30

I think a lot of people are using last months model to invest in bitcoin. Those days are gone imho. It took the crash to bring bitcoin to a new level of public knowledge, and with that came a new wave of investors. I think we are starting to see the beginning of the 'stability' we all crave. I know of a few people who walked away during the insane 260's spike we saw, but anybody with half a brain could see that that rate of upward movement was not sustainable. So we lost a few early adopters, some heavy investors out for profit, and a gang of retards. I myself made a decent chunk of usd in that spike, but I see BTC as a long-term investment that I use multiple accounts with different purposes to make the most of it. I have a day trading wallet that I am willing to lose all of if I make bad decisions, I have a gambling/free coin account(my sig wallet), and I have my vault, where I am putting the majority of my coin while this whole introduction phase takes place. When Bitcoin becomes the, for lack of a better term, facebook of online currency, and we see the true value of bitcoin emerge, then I will know that I made the right decisions. The trick is to stop looking at the micro-movements and to just let it ride. I consider all of the coins I have to be nothing more any other code in my computer....a means to an end. A way for me to get done what I need to get done. And until bitcoin becomes as frequently used a term as mac, pc, android...etc, I am going to hold onto what I have because I see a future where bitcoin is more than just a ticker figure.

Just my 2 pennies.

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April 23, 2013, 11:00:04 PM
 #31

Day trader here and up 1600% so far on Bitcoin.  Buy low, sell high.  Use logic, fuck emotion.  Good luck!
Nice...I started a week ago and am up 10% on my investment. Somebody tell me what other investments can return 10% in one week? Grin

The way I see it is it's more fun, active and potentially higher return than than if you leave your money in the bank.

Also my number one rule is I don't sleep with bitcoins, sure I have some fun with them during the day but I don't want to take them to bed with me or I will be checking on them throughout the night.
awakening
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April 23, 2013, 11:03:52 PM
 #32

Day trader here and up 1600% so far on Bitcoin.  Buy low, sell high.  Use logic, fuck emotion.  Good luck!
Also my number one rule is I don't sleep with bitcoins, sure I have some fun with them during the day but I don't want to take them to bed with me or I will be checking on them throughout the night.

I made the same today.. I expect more a crash into the low 100s than a rally into the high 100s. So better take out my 94 eur at 109 eur.
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April 23, 2013, 11:04:44 PM
 #33

Since the bitcoin recovery I've been trying to day trade.

It's worked fine a couple of times. Made $100 in one go, $200, and $60 another time.

However, it's also worked not so well a few  times, and I've lost $600 in one go, and around $900 in one go, as well as a few smaller losses which could have otherwise been profits due to fees.

I'm so pissed, because when this current spike to 135 happened, I was waiting for the coins to drop a little lower.

I ended up panic buying at 135 thinking that we'd break through the wall.

We didn't.

Fuck me. I'm just so annoyed. I'd have around 20 more coins if I'd just put my coins onto a usb stick an didn't touch it.

Fuck fuck fuck...

I feel like selling all my coins at a loss right now, and never talking about bitcoin again (even though overall I know I'm ahead)


I've only made money. Stop being greedy. When you can make 50-60% profit then take it. When you refuse to take a sure profit thats when you risk it all for nothing. Take the small profits of 20-50%, they add up over time. Only bet long when you know it's under valued.
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April 23, 2013, 11:04:49 PM
 #34

Day trader here and up 1600% so far on Bitcoin.  Buy low, sell high.  Use logic, fuck emotion.  Good luck!
Nice...I started a week ago and am up 10% on my investment. Somebody tell me what other investments can return 10% in one week? Grin

The way I see it is it's more fun, active and potentially higher return than than if you leave your money in the bank.

Also my number one rule is I don't sleep with bitcoins, sure I have some fun with them during the day but I don't want to take them to bed with me or I will be checking on them throughout the night.

If you bought one week ago you should have made much more than 10%. Heck, you should have made almost +80%, last week BTC/USD was at $80ish and now at +$140

If you only made 10% then you really suck at trading my friend.

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April 23, 2013, 11:05:38 PM
 #35

I made a decent amount, but it really is nothing more than gambling.  Very fun, addictive, gambling - but pretty much on par with poker as far as I can tell.  Sure, you can increase your odds considerably by knowing the game, but you're in the end at the mercy of factors outside of your control.

Yep, I think of it as poker too, and poker is the only gambling game I play.

Problem is I lose poker too.

Who doesn't lose though is the house.

The house always takes their cut. Notice how Gox fees are surprisingly similar to a blackjack table...

this is a good observation. game theory is very important in speculation.

this sentence has fifteen words, seventy-four letters, four commas, one hyphen, and a period.
18N9md2G1oA89kdBuiyJFrtJShuL5iDWDz
Luckybit
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April 23, 2013, 11:07:18 PM
 #36

WTF do you try to daytrade based on feelings, with no strategy at all?

Pros are making a profit thanks to you.

Partly based on feelings... I have a strategy too, but if I'm sitting in front of the computer screen that'll often go out the window when all the green and red arrows start flashing.

I don't doubt it Sad

When you see a profit you weigh the risk of not taking a sure profit vs the risk of losing the profit. Most of the time taking many small nibbles is smarter than taking large bites.

People who trade on greed tend to lose money. People who trade by numbers tend to make money. Have faith in the numbers, and feel that instead of feeling yourself.
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April 23, 2013, 11:07:39 PM
 #37

HOOOOOOOOOOOLD for the longest time

CoinLenders - Bitcoin Bank Script / Demo
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April 23, 2013, 11:09:39 PM
 #38

Day trader here and up 1600% so far on Bitcoin.  Buy low, sell high.  Use logic, fuck emotion.  Good luck!
Nice...I started a week ago and am up 10% on my investment. Somebody tell me what other investments can return 10% in one week? Grin

The way I see it is it's more fun, active and potentially higher return than than if you leave your money in the bank.

Also my number one rule is I don't sleep with bitcoins, sure I have some fun with them during the day but I don't want to take them to bed with me or I will be checking on them throughout the night.

If you bought one week ago you should have made much more than 10%. Heck, you should have made almost +80%, last week BTC/USD was at $80ish and now at +$140

If you only made 10% then you really suck at trading my friend.
haha yeah maybe but 80% would have been with a buy and hold policy.

Also it would be more like 20% if I didn't make a couple of panic sells like the OP.
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April 23, 2013, 11:15:26 PM
 #39

Day trader here and up 1600% so far on Bitcoin.  Buy low, sell high.  Use logic, fuck emotion.  Good luck!
Nice...I started a week ago and am up 10% on my investment. Somebody tell me what other investments can return 10% in one week? Grin

The way I see it is it's more fun, active and potentially higher return than than if you leave your money in the bank.

Also my number one rule is I don't sleep with bitcoins, sure I have some fun with them during the day but I don't want to take them to bed with me or I will be checking on them throughout the night.

If you bought one week ago you should have made much more than 10%. Heck, you should have made almost +80%, last week BTC/USD was at $80ish and now at +$140

If you only made 10% then you really suck at trading my friend.
haha yeah maybe but 80% would have been with a buy and hold policy.

Also it would be more like 20% if I didn't make a couple of panic sells like the OP.

Most of people registered in this forums for 4 or more months have made a return between 300% and +1000% with "buy and hold" policy.

It looks like a good policy for BTC

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April 24, 2013, 01:35:49 AM
 #40

My rule of thumb is, if the price isn't where you want it to be, just wait a few days.


If you're a long-term bear, this only works like 0.01% of the time.

 Cool
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