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Author Topic: what's your stop loss  (Read 5504 times)
Adam
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July 05, 2011, 02:03:30 AM
 #21

I don't have a stop loss, but I'll admit I sold some bitcoins today for the first time since they were over $30, which seems a lot longer ago than it really was.  I'm just starting to get nervous about lower daily trade volume and wondering how much new money is really flowing into the system.  I have no problem when the price drops in response to supply from miners or from early adopters because at least new money is entering the bitcoin economy.  But when speculators start losing interest and selling and you lack any new money to replace them - that's when we'll really take a price hit.

I'm especially concerned about volume now that the major exchanges are offering much lower fees.  You would think that it would be a lot higher than in the past simply from people taking advantage of arbitrage to make a few bucks here and there.  Hopefully we're still in the weekend doldrums considering it's a holiday in the US and banks are closed.  If we have another down day tomorrow though, I'll be worried.

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pointbiz
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July 05, 2011, 02:13:23 AM
 #22

don't have one.

how do you propose people send money from country A to country B ?
wire transfer? WU?

that's not possible from all countries.

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Jack of Diamonds
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July 05, 2011, 02:33:03 AM
 #23

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

A lot of countries can't join LR and Dwolla is for USA users only.

What other international options are there if you need the cash in your hands?

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July 05, 2011, 02:35:34 AM
 #24

already passed my stop loss, its gut check time.
On the sidelines.....
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July 05, 2011, 02:35:51 AM
 #25

Definitely do not like seeing this at 13 bux a pop, I bought all mine at 14 bux, so I hope it stops, balances out and then gets its butt up ,  Sale price would be under 9 I think for me, if it kept going down steady for a week, I believe in the concept and I hope it keeps picking up speed and hopefully this is the fourth of july weekend low trading ccausing these issues, and people still sellling out.

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July 05, 2011, 02:46:46 AM
 #26

Definitely do not like seeing this at 13 bux a pop, I bought all mine at 14 bux, so I hope it stops, balances out and then gets its butt up ,  Sale price would be under 9 I think for me, if it kept going down steady for a week, I believe in the concept and I hope it keeps picking up speed and hopefully this is the fourth of july weekend low trading ccausing these issues, and people still sellling out.

support is broken and the greater fool line is very short, why would it go up? the market fundamentals are not there.

I suppose magic, as in magic the gathering will save us all.
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July 05, 2011, 03:14:54 AM
 #27

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.

Yes, that's what I should have done. When the price was at 30, I already mined 2 BTCs (regrettably didn't sell). Now I have to sell 5 BTCs in order to get $60.

Just sold 1/3 of all my BTCs for $13.59 on average. Will continue to sell at least 1/3 while mining.

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July 05, 2011, 03:19:56 AM
 #28

Definitely do not like seeing this at 13 bux a pop, I bought all mine at 14 bux, so I hope it stops, balances out and then gets its butt up ,  Sale price would be under 9 I think for me, if it kept going down steady for a week, I believe in the concept and I hope it keeps picking up speed and hopefully this is the fourth of july weekend low trading ccausing these issues, and people still sellling out.

July 4th the volume is actually not that low:


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July 05, 2011, 03:20:07 AM
 #29

I sold my 12 month hoard of mined bitcoins at around $15.5.  I am also selling new mined coins at market.  This bubble has to completely deflate before I start hoarding again.
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July 05, 2011, 03:23:03 AM
 #30

I sold my 12 month hoard of mined bitcoins at around $15.5.  I am also selling new mined coins at market.  This bubble has to completely deflate before I start hoarding again.


I got out of the kitchen at low $15's...  Grin

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ShaggyB (BitCoinWorldMarket)
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July 05, 2011, 03:24:39 AM
 #31

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".

Holey Swiss Cheese Batman, I've been doing it wrong this whole time!

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Matarael
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July 05, 2011, 03:27:30 AM
 #32

Stop loss was about a dollar ago.

My buy will be as close as I can guess to then end of this fall.
pennytrader
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July 05, 2011, 03:28:39 AM
 #33

I sold my 12 month hoard of mined bitcoins at around $15.5.  I am also selling new mined coins at market.  This bubble has to completely deflate before I start hoarding again.


I got out of the kitchen at low $15's...  Grin

OK. You guys scared me. Sold another 1/3 of my coins. Hopefully tomorrow we can have a bounce and I can sell my remaining 1/3 into.

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nemo
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July 05, 2011, 03:34:05 AM
 #34

I've completely prepared myself mentally and emotionally for bitcoins to fail. I won't sell until I can buy a house. Infact, I'm buying when they hit rock bottom and everybody's patting themselves on the back with this "I told you so" shit. What can I say? I'm a financial masochist.
pennytrader
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July 05, 2011, 03:39:58 AM
 #35

Now I have some fund in mtgox after the sale, and I'll probaly buy some back when the price hits below $10 (or even lower when everyone is panicking). If the price doesn't drop? even better, I still have 1/3 of coins to sell Smiley

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July 05, 2011, 03:57:43 AM
 #36

If this 13.50 price level doesnt hold, its going to 8.10 before it sees any support.

you read it here first, now watch the show.
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July 05, 2011, 03:58:41 AM
 #37

If this 13.50 price level doesnt hold, its going to 8.10 before it sees any support.


Yup, no end in sight yet

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DamienBlack
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July 05, 2011, 04:00:46 AM
 #38

If this 13.50 price level doesnt hold, its going to 8.10 before it sees any support.

you read it here first, now watch the show.

I think it would find support around $10. There is a lot of psychological support for any single digit number. If $10 breaks, I think it is a free fall. maybe all the way < $5.

On the other hand, I think it would only take a small rally to see $17 again.

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pdawg
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July 05, 2011, 04:42:58 AM
 #39

If this 13.50 price level doesnt hold, its going to 8.10 before it sees any support.

you read it here first, now watch the show.
+1

Although, I am in accumulation mode.   So I will keep mining until it is cheaper to purchase outright.  I think bitcoins have immense potential.  BTC is in its infancy.

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July 05, 2011, 04:49:48 AM
 #40

I bought into my position to hold for a time period measured in years and use (internet services, wikileaks, etc.)  I set buys at various point downward, and most of the non-absurd ones have been taken out so I'm more or less done.

I bought into my position within the last few weeks.  I got interested in Bitcoin some months ago, but had so much other stuff going on that it rolled off my plate.  Oh well.  My stop loss is zero...I went in with the understanding that I could and very possibly would lose it all.  Bitcoin seems one of the most worthwhile causes I've seen in...well...possibly forever.  (Monetary systems are IMHO one of the very most critical things on earth and they influence quality of life for everybody.)

A big factor in my timing (that is, ASAP) was that I wanted to take a position before any obvious legal stuff worked it's way through the legislature.

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