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Author Topic: should I sell and re-buy?  (Read 2361 times)
felix913
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July 05, 2011, 12:54:46 PM
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Basically I bought some btcs last night thinking at £9.5 that they wouldn't go much lower anticipating what i believe to be an inevitable reversal. However since then they have dropped to £8.3. Should I sell the ones I bought 8.3 in the hope they will drop as low as maybe £5 and buy then?
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fassadlr
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July 05, 2011, 12:56:41 PM
 #2

Well that is the million dollar question!

I hate to say this but I'm selling my BTC at the moment. Its just too unstable. I don't mind if I make a loss but I really don't want to wipe out my investment.
felix913
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July 05, 2011, 01:02:12 PM
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Lost my nerve ... sold. But I will keep an eye on it when it starts to stabilise out (could be very low) I will buy back.
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July 05, 2011, 01:06:23 PM
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And to think I thought I was getting a bargain at £13.50...
felix913
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July 05, 2011, 01:11:03 PM
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TBH prices rebounded slightly on britcoin after I sold lol. They went from £8.3 to £8.45. But prices in the US are still slowly dropping it would seem. I think overall it will drop to below £8 by the end of the day. I am still overall slightly in profit from BTC so I don't miind taking the slight lose I took there if I can buy back lower.
zerokwel
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July 05, 2011, 01:24:43 PM
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depends on your nerve. I sold at 17usd.. aye I am uk as well just I play in whatever market is best for me at the time.

same with buying its all about nerve... have you got the stones to hold on to your bitcoins. if I buy when its low and it goes lower I buy more

say for example its at £8 each and I buy 10 then it drops to £6 I buy another 10 so my investment I only need 7 to break even. if it drops lower and never rebounds well I am SOL

my total cost to my self investment I put into this was £25. and made the rest from mining and playing markets.

never use money you are not prepared to loose.
felix913
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July 05, 2011, 01:41:04 PM
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How do you trade on the US markets, because I have noticed that britcoin price lags behind the US prices sometimes but I have no way to capitalise on it because I can't trade on the US sites Sad?
zerokwel
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July 05, 2011, 01:48:52 PM
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use bitcoin7 buy in using bitcoins or paysafecard. to eur buy when the eur is low keep as btc then cash out whenever its higher. back to usd/eur etc.

the ukp market is small so tends to suck for price atm
zerokwel
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July 05, 2011, 01:52:39 PM
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I really want to hold off I think there is a few more panic sales left in people. before I stick my buy orders in.
felix913
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July 05, 2011, 07:49:51 PM
 #10

Well because btcguild was down I was banking on some people being unable to sell and when it came back online the price going down a little bit. Anyway long story short I bought back at £7 which as low as the price has gone today on britcoin. Doubt it will go seriously below £7 so pretty pleased. Expecting it to rebound tomorrow. So far it looks like I was right to sell and buy back.

I reckon everyone is going to start buying now ... opinions?
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July 05, 2011, 08:02:06 PM
 #11

buy low sell high
buy under 20$ if you can afford to lose the money and buy under 10 regardless
sell back as soon as you can recoup your original investment

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terroh8er
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July 05, 2011, 08:07:09 PM
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I think you may have missed your opportunity to buy low. I got in while people were panicking at $11. Originally I thought it would be a bad idea to buy, but then Casey Anthony was found not guilty so I realized it was opposite day.

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skyhigh
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July 05, 2011, 08:09:31 PM
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Well because btcguild was down I was banking on some people being unable to sell and when it came back online the price going down a little bit. Anyway long story short I bought back at £7 which as low as the price has gone today on britcoin. Doubt it will go seriously below £7 so pretty pleased. Expecting it to rebound tomorrow. So far it looks like I was right to sell and buy back.

I reckon everyone is going to start buying now ... opinions?

Why you reckon that? Because you jumped back in? Something fundamentally or technically changed since you sold and re-bought? I hope you can come up with a better plan for the future. I hate to see you bail at 6.50 and rebuy 6.00 on the same day just because you reckon everyone will start buying the moment you bought. Does this make sense?
GeniuSxBoY
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July 05, 2011, 08:20:22 PM
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felix913
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July 06, 2011, 01:11:28 AM
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skyhigh I sold at 8.3 and bought back at 7. that is £1.30 difference ... if i had more BTC I would have made a fair bit of money.
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July 06, 2011, 01:23:07 AM
 #16

I'm curious. How are you guys determining whether to buy or sell?

If there was some specific use, it might be easier to predict. Say, if BTC was used as currency in a popular game. You can get some idea of how valuable it will become.

Are you betting someone will eventually develop a killer app, to drive the price up?


GeniuSxBoY
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July 06, 2011, 01:27:27 AM
 #17

This is a game of high or lower.


You know the number is $13.  Do you think the change will be higher or lower?
JoelKatz
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July 06, 2011, 05:45:09 AM
 #18

What, you guys don't have the little bell that goes off right before the market changes direction?

I am an employee of Ripple.
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cloon
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July 06, 2011, 06:04:12 AM
 #19

What, you guys don't have the little bell that goes off right before the market changes direction?
Yes it's called STRATEGY

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MKW2012
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July 06, 2011, 06:17:47 AM
 #20

What, you guys don't have the little bell that goes off right before the market changes direction?
Yes it's called STRATEGY

Agreed. Everyone should have a plan before making a trade. Whether its taking some off the table when its hits your price target or adding to a position when it pulls back.
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