Remember what happened when proudhon turned bull? Now ElectricMucus thinks "the bubble" will be "reinflated"...
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SELL! SELL! SELL!
Hold on... he may not be the LAST bear. Has the ir-rationalSpeculator bought back yet???
lol, the day trading speculator!
the silence is deafening.
Glad you guys missed me
I admit I am very surprised how quick and strong the price recovered after the SR crash. I would have expected a much deeper and much longer correction. However, price is now going up parabolically again, sentiment is getting overly confident: victory songs popping up, bears being mocked. Short term all indicators to
buy sell. For the coming months I still estimate chances we get another correction to below $100 much higher than going into another tenfolding.
That being said I have come to the insight that my strategy is indeed no good. My returns on bitcoin are now lower than a buy and hold (1080% for 2013 vs 1200% for buy and hold), I only have half the coins I started with and a bunch of fiat. I worry that the price will continue to go up and I will be left behind.
If I could do it all over I would follow cypherdoc his advise to buy more in February 2013 when it was breaking the old all time high of $30 from 2011, and to never sell a single coin but simply buy and hold. Easier because no trading needed, less counterparty risks, less taxable events, and eventhough much more volatile, very likely also much more profitable. My counterarguments against a buy and hold: 'risk management' I no longer support. Sure I could have sold some coins as to lock in some profits but half? *shrugs head*
Lesson learned. Thank you all for helping me see.
What to do now? Buy back the coins and make large losses if $60 were to be hit? Or continue to wait for a correction to $60 that may never come?
I'll take the middle road. I'll raise my fiat canons to above $90, instead of above $60. And this time I'll charge them sufficiently as I hadn't done so on the recent SR correction and due to this could only buy a few.
As to defend against the characterizations made of me.
Cypherdoc, when proven wrong I prefer a man of silence over a man that does not take ownership.
Zerg, though I have certainly been a bear most of the time since it first crossed $150, I have always remained open to a relaunch into new all time highs, and have turned bullish every time the price had corrected sharply. In my trading as well as analyses here. You throwing me into the bear camp like EM seems not nuanced to me. Am I misrepresenting myself or are you overconfident or angry? Where have I spoken irrational?
