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Author Topic: The weekend is coming! The weekend is coming!  (Read 8153 times)
billyjoeallen
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July 08, 2011, 12:04:10 AM
 #21

Since everybody who's been around for more than two weeks knows that the price usually dips on the weekends, anyone buying is likely to be new. So what happens if the price doesn't drop?  Sell the rest of your coin and hope you can start a panic?  What if that doesn't work? Buy in at a higher price to stay in the game?  Quit? Wait possibly weeks or months for another entry point?  

Patterns continue until they don't. If I was a big player and wanted in cheap, I'd start buying in small quantities on Friday and build an invisible bid wall just below spot, letting the suckers bet into the case hand.  

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DamienBlack
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July 08, 2011, 12:08:22 AM
 #22

Since everybody who's been around for more than two weeks knows that the price usually dips on the weekends, anyone buying is likely to be new. So what happens if the price doesn't drop?  Sell the rest of your coin and hope you can start a panic?  What if that doesn't work? Buy in at a higher price to stay in the game?  Quit? Wait possibly weeks or months for another entry point?  

Patterns continue until they don't. If I was a big player and wanted in cheap, I'd start buying in small quantities on Friday and build an invisible bid wall just below spot, letting the suckers bet into the case hand.  

I'd buy in higher. It is a gamble. I bet prices move down. If I lose, I lose a small percentage, if I win, I gain a mid-rage percentage. I just keep my stop loss low and I can't lose that much. Same thing as every time you make a trade.

And why would you do that if you were a "big player". We are all trying to buy at the bottom, what makes you think this "big player" is going to do a better job then everyone else?

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July 08, 2011, 12:14:24 AM
 #23



This.
imperi
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July 08, 2011, 12:20:41 AM
 #24

The price didn't drop the weekend all the way until right before the major gox incident happened. People were joking about how the weekend drop didn't happen.
DamienBlack
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July 08, 2011, 12:22:28 AM
 #25

The price didn't drop the weekend all the way until right before the major gox incident happened. People were joking about how the weekend drop didn't happen.

What are you talking about? Black friday was the biggest weekend drop of all, and there are at least three, clear, weekend drops before that. The week right before black friday is one of the only exceptions in the last 6 weeks.

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billyjoeallen
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July 08, 2011, 12:32:43 AM
 #26

Since everybody who's been around for more than two weeks knows that the price usually dips on the weekends, anyone buying is likely to be new. So what happens if the price doesn't drop?  Sell the rest of your coin and hope you can start a panic?  What if that doesn't work? Buy in at a higher price to stay in the game?  Quit? Wait possibly weeks or months for another entry point?  

Patterns continue until they don't. If I was a big player and wanted in cheap, I'd start buying in small quantities on Friday and build an invisible bid wall just below spot, letting the suckers bet into the case hand.  

I'd buy in higher. It is a gamble. I bet prices move down. If I lose, I lose a small percentage, if I win, I gain a mid-rage percentage. I just keep my stop loss low and I can't lose that much. Same thing as every time you make a trade.

And why would you do that if you were a "big player". We are all trying to buy at the bottom, what makes you think this "big player" is going to do a better job then everyone else?

A Big Kahuna can absorb any dip except a stampede and has considerable ability to prevent a stampede. A giant bear could do the same in the other direction, but those have likely all cashed out already.

Black Friday was a Black Swan. Not much to be learned there except put in a huge order at $0.03/BTC. The market doesn't have to stay perfectly even for your BTFD play to backfire. It just has to drop less than you anticipate before heading back up for good.


insert coin here:
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Open an exchange account at CampBX: options, lowest commissions, and best security
https://campbx.com/register.php?r=0Y7YxohTV0B
imperi
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July 08, 2011, 12:36:29 AM
 #27

The price didn't drop the weekend all the way until right before the major gox incident happened. People were joking about how the weekend drop didn't happen.

What are you talking about? Black friday was the biggest weekend drop of all, and there are at least three, clear, weekend drops before that. The week right before black friday is one of the only exceptions in the last 6 weeks.

Ok, it did fall when Friday just began, but it rebounded quite a bit to $17 by the end of Sunday when the attack happened.
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July 08, 2011, 12:39:09 AM
 #28


A Big Kahuna can absorb any dip except a stampede and has considerable ability to prevent a stampede. A giant bear could do the same in the other direction, but those have likely all cashed out already.

Black Friday was a Black Swan. Not much to be learned there except put in a huge order at $0.03/BTC. The market doesn't have to stay perfectly even for your BTFD play to backfire. It just has to drop less than you anticipate before heading back up for good.

By "black friday" I'm referring to the $30-$10 event, not the hackcrash. I am well aware that the position can move against me, that is how markets work. But I'm already $0.80/BTC up and the weekend hasn't even started. Normally I'd close my position here and rebuy (as long is my default position), but I'm going to try to leave it open for a bigger weekend swing.  And I have closed 10%, which is enough to cover any minor losses if prices soar.

All in all, good bet so far. You can't trade if you expect to win every time. You have to take the earnings with the losses and try to come out black.

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billyjoeallen
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July 08, 2011, 12:56:36 AM
 #29


A Big Kahuna can absorb any dip except a stampede and has considerable ability to prevent a stampede. A giant bear could do the same in the other direction, but those have likely all cashed out already.

Black Friday was a Black Swan. Not much to be learned there except put in a huge order at $0.03/BTC. The market doesn't have to stay perfectly even for your BTFD play to backfire. It just has to drop less than you anticipate before heading back up for good.

By "black friday" I'm referring to the $30-$10 event, not the hackcrash. I am well aware that the position can move against me, that is how markets work. But I'm already $0.80/BTC up and the weekend hasn't even started. Normally I'd close my position here and rebuy (as long is my default position), but I'm going to try to leave it open for a bigger weekend swing.  And I have closed 10%, which is enough to cover any minor losses if prices soar.

All in all, good bet so far. You can't trade if you expect to win every time. You have to take the earnings with the losses and try to come out black.

All well and good until the commissions grind you down. I faced the same problem playing poker. I could beat the players, but not the rake. I have some orders in on campbx.com with no fees charged currently.  Low volume, but I'm not playing with much anyway.

insert coin here:
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Open an exchange account at CampBX: options, lowest commissions, and best security
https://campbx.com/register.php?r=0Y7YxohTV0B
DamienBlack
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July 08, 2011, 01:15:05 AM
 #30

All well and good until the commissions grind you down. I faced the same problem playing poker. I could beat the players, but not the rake. I have some orders in on campbx.com with no fees charged currently.  Low volume, but I'm not playing with much anyway.

0 commission at mt gox right now. Pretty good trading. Has made me a lot more active.

I trade bitcoin options at https://bitoption.org/ ... Join me.
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imperi
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July 08, 2011, 01:17:09 AM
 #31

All well and good until the commissions grind you down. I faced the same problem playing poker. I could beat the players, but not the rake. I have some orders in on campbx.com with no fees charged currently.  Low volume, but I'm not playing with much anyway.

0 commission at mt gox right now. Pretty good trading. Has made me a lot more active.

I'm very happy that trading volume has been so high at Mtgox. Over a million dollars were traded yesterday. Confidence in exchanges is necessary for Bitcoin to grow.
Bitcoin Swami
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July 08, 2011, 01:20:18 AM
 #32

People will just make sure that they have money into the exchanges before the weekend eventually.
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July 08, 2011, 01:34:38 AM
 #33

The weeekend approaches!

SELL SELL SELL!!!  SELL SELL SELL!!!   SELL SELL SELL!!!    SELL SELL SELL!!!



SELL SELL SELL!!!  SELL SELL SELL!!!   SELL SELL SELL!!!    SELL SELL SELL!!!


billyjoeallen
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July 08, 2011, 01:42:13 AM
 #34

People will just make sure that they have money into the exchanges before the weekend eventually.

DING DING DING! we have a winner!

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July 08, 2011, 01:44:58 AM
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imperi
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July 08, 2011, 01:57:52 AM
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July 08, 2011, 02:02:11 AM
 #37

Who is the mysterious, dumb "other" group of people that suddenly panics *every* single weekend?

Why is someone out there volunteering to enrich day traders?
(I'm not complaining. This is just an honest question)

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billyjoeallen
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July 08, 2011, 02:05:29 AM
 #38

Who is the mysterious, dumb "other" group of people that suddenly panics *every* single weekend?

Why is someone out there volunteering to enrich day traders?
(I'm not complaining. This is just an honest question)

Newbies. Greenhorns. Rookies. Fresh meat.

insert coin here:
1Ctd7Na8qE7btyueEshAJF5C7ZqFWH11Wc

Open an exchange account at CampBX: options, lowest commissions, and best security
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imperi
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July 08, 2011, 02:07:11 AM
 #39

Prices just dropped from 14.90 to 14.89... it's happening guys. Sell before it's too late! Sell sell sell.
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July 08, 2011, 02:08:00 AM
 #40

Prices just dropped from 14.90 to 14.89... it's happening guys. Sell before it's too late! Sell sell sell.

14.91!  Rally is back!  Buy now!
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