should I sell and re-buy?

[felix913]

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?

[fassadlr]

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]

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.

[dan_a]

And to think I thought I was getting a bargain at £13.50...

[felix913]

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]

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]

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 ?

[zerokwel]

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]

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]

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?

[bitbot]

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

[terroh8er]

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.

[skyhigh]

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]

Volume: 86327

[felix913]

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.

[Electrongolf]

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]

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]

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

[cloon]

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

Yes it's called STRATEGY

[MKW2012]

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.