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Author Topic: what's your stop loss  (Read 5501 times)
pennytrader
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July 04, 2011, 08:08:14 PM
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if anybody is familiar with this basic investment concept. Now my question is what's your stop loss? You're holding BTCs because you either bought them or mined them. Either way, do you set any stop loss?

For me, I'll probably sell all my BTCs if the price goes below $10.

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evoorhees
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July 04, 2011, 08:23:11 PM
 #2

No stop loss... the lower the price goes the more I'll buy, because I don't trust the market price, I trust my instincts. That's another basic investment concept  Wink
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July 04, 2011, 08:26:59 PM
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I'm with evoorhees

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pennytrader
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July 04, 2011, 08:28:17 PM
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then what's your guys' target price?

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July 04, 2011, 08:28:48 PM
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Holidays are great for bargain shopping. Not only is my email full of discounted deals on a wide variety of products, but Bitcoins are on sale at bargain prices too!

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Jaime Frontero
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July 04, 2011, 08:36:25 PM
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i had a stop loss, a few weeks ago.

i put $1,600 into mining equipment in march, and i figured i'd hold 200 BTC on an $8 sell contract, just to be sure i could get the USD out.

but i got rid of that contract.  made no sense.

i figure i'm better off spending the BTC back into the community, to help it grow.

you're in or you're out.
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July 04, 2011, 08:39:31 PM
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Now my question is what's your stop loss?

I only have stop gain, no stop loss. The name of the game is WINNING! Wink

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July 04, 2011, 08:50:36 PM
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then what's your guys' target price?

No idea... trying to "name the correct price" on something so new, revolutionary, volatile, and downright crazy is a fool's errand. Or in other words, target price is between $0.10 and $10,000 per coin. SO many variables, and the timeframe for every variable is also a variable.

I'm buying them because I believe in the concept, and in the market need for frictionless free-market money. I have no idea what the right price is, but I know these are wildly valuable to humanity - we'll see if humanity recognizes this =)
pennytrader
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July 04, 2011, 09:06:51 PM
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I have my belief in BTC myself but I'm not going to argue against the market (well, if the market crashed due to some hacking, that's a different story). While I'm typing, the price continues to fall. Too bad it'll take some a couple of hours for my funds to be transferred.

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July 04, 2011, 09:18:45 PM
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then what's your guys' target price?

No idea... trying to "name the correct price" on something so new, revolutionary, volatile, and downright crazy is a fool's errand. Or in other words, target price is between $0.10 and $10,000 per coin. SO many variables, and the timeframe for every variable is also a variable.

I'm buying them because I believe in the concept, and in the market need for frictionless free-market money. I have no idea what the right price is, but I know these are wildly valuable to humanity - we'll see if humanity recognizes this =)

well said.
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July 04, 2011, 09:19:19 PM
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i for one am buying on the way down.
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July 04, 2011, 10:20:31 PM
 #12

if anybody is familiar with this basic investment concept. Now my question is what's your stop loss? You're holding BTCs because you either bought them or mined them. Either way, do you set any stop loss?

For me, I'll probably sell all my BTCs if the price goes below $10.

I think you have this backwards. You're supposed to buy when it's low, and sell when it's high.
imperi
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July 04, 2011, 10:21:07 PM
 #13

if anybody is familiar with this basic investment concept. Now my question is what's your stop loss? You're holding BTCs because you either bought them or mined them. Either way, do you set any stop loss?

For me, I'll probably sell all my BTCs if the price goes below $10.

I think you have this backwards. You're supposed to buy when it's low, and sell when it's high.

He'll probably buy back when Bitcoins are in good shape at $20.  Grin

"Buy high, sell low".
pennytrader
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July 04, 2011, 10:23:29 PM
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I don't buy them back, never. I just mine them. My question is always whether I should hold on to the coins I mined because they have the potential to go to $100, or whether I should sell them before they go to $0.

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MatthewLM
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July 04, 2011, 10:25:10 PM
 #15

Wouldn't you be annoyed if the stop loss was triggered and then the price went right back up again?

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July 04, 2011, 10:35:16 PM
 #16

Are there people who prefer a coin over $15, but then days (or minutes?) later prefer $10 over a coin?

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Jaime Frontero
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July 04, 2011, 10:37:16 PM
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Are there people who prefer a coin over $15, but then days (or minutes?) later prefer $10 over a coin?

lots.

and it doesn't take much to push them in either direction.

hence... the troll.
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July 05, 2011, 01:42:40 AM
 #18

I don't buy them back, never. I just mine them. My question is always whether I should hold on to the coins I mined because they have the potential to go to $100, or whether I should sell them before they go to $0.

If you're just mining, and not speculating at all, then just sell them as you get them.

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Jack of Diamonds
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July 05, 2011, 01:51:36 AM
 #19

I don't buy them back, never. I just mine them. My question is always whether I should hold on to the coins I mined because they have the potential to go to $100, or whether I should sell them before they go to $0.

If you're just mining, and not speculating at all, then just sell them as you get them.

Impossible for small miners. Say you are selling 5 BTC at $70 bucks and want a wire transfer.
You go on tradehill, pay fees just to sell the coins, then pay a $45 withdrawal fee to actually get the cash out.

You end up getting 25 bucks for 5 BTC, or $5 each. Maybe even less if your bank has fees for receiving wires, or ATM withdrawals etc., making your mining efforts essentially worthless.

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DamienBlack
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July 05, 2011, 01:55:35 AM
 #20

I don't buy them back, never. I just mine them. My question is always whether I should hold on to the coins I mined because they have the potential to go to $100, or whether I should sell them before they go to $0.

If you're just mining, and not speculating at all, then just sell them as you get them.

Impossible for small miners. Say you are selling 5 BTC at $70 bucks and want a wire transfer.
You go on tradehill, pay fees just to sell the coins, then pay a $45 withdrawal fee to actually get the cash out.

You end up getting 25 bucks for 5 BTC, or $5 each. Maybe even less if your bank has fees for receiving wires, or ATM withdrawals etc., making your mining efforts essentially worthless.

Then don't do a wire transfer. Pick one of the many other, cheaper methods. Problem solved.

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