AndrewWilliams
Full Member
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Activity: 182
Merit: 100
Fourth richest fictional character
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October 25, 2013, 05:43:17 AM |
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This is why it is best to invest using the "basket method." (TM)
First Basket: $10,000
Long on position of Bitcoin. Never sell! (Or, if you must, sell at $1,000-1200).
Second Basket: $10,000
Mid-range positioning. Sell only after at least 1 year. Sell when it reaches around $400-600 the purchase price.
Third Basket: $5,000
Use this for short term trading (day-trading) to ride short term rises.
Using this system, you can prevent impulse buying and selling, and really enjoy the benefits of long term appreciation.
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mrhelpful
Legendary
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Activity: 1456
Merit: 1002
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October 25, 2013, 05:22:03 PM |
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I can just sum this up, your a btc day trader. congrats
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beegatewood
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October 27, 2013, 01:52:28 AM |
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yeh the price will not go back to $50 ill tell you that much, and i believe in BTC growth as well but....doubling every month?  iii doont thinkkkk sooo! Anything can happen especially when the public is panic.. |
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TheDragonSlayer
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October 27, 2013, 07:00:07 AM |
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This is why it is best to invest using the "basket method." (TM)
First Basket: $10,000
Long on position of Bitcoin. Never sell! (Or, if you must, sell at $1,000-1200).
Second Basket: $10,000
Mid-range positioning. Sell only after at least 1 year. Sell when it reaches around $400-600 the purchase price.
Third Basket: $5,000
Use this for short term trading (day-trading) to ride short term rises.
Using this system, you can prevent impulse buying and selling, and really enjoy the benefits of long term appreciation.
I hate trading. Lose plenty of fee while trading |
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Jabbatheslutt
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October 27, 2013, 08:50:40 AM |
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i will be cautious at current prices,
until it hits the alltime high, then i will panic buy,
panic sell at 948, and watch is go to ~1900,
then buy back at 1078,
and then sell again a 500.
This is my grand plan, whats yours?
Lolz, what type of plan is this. Anyway, mine was to sell at $250, then buy back at $50, then sell again at $250 and buy back again at $50 and it continues...... If only it was that easy... |
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ScryptAsic
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October 27, 2013, 12:19:06 PM |
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i will be cautious at current prices,
until it hits the alltime high, then i will panic buy,
panic sell at 948, and watch is go to ~1900,
then buy back at 1078,
and then sell again a 500.
This is my grand plan, whats yours?
Lolz, what type of plan is this. Anyway, mine was to sell at $250, then buy back at $50, then sell again at $250 and buy back again at $50 and it continues...... If only it was that easy... Haha yeah, easier said then done... I going to buy all the BTC I can when it hit 100$-130$... |
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tunctioncloud
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October 27, 2013, 12:25:03 PM |
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Buy low, sell high. Repeat. This is good plan for aspiring trader  |
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GimpyPrime
Member
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Activity: 68
Merit: 10
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October 27, 2013, 09:56:42 PM |
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It's unlikely the price of Bitcoin will remain the same. At the very least it should hedge inflation and maintain a constant value, which means the price would go up by 2-5% a year minimum. If you factor in adoption rate and increased mining difficulty it's reasonable to assume that it will also be increasing in value. Some also predict that when quantitative easing stops it will result in deflation, so if it affects trade price of BTC it would be a result of the dollars instability and not BTC. We should also consider that as liquidity in Bitcoin market increases it would have the opposite effect in other markets. The fractional reserve system relies on a perpetual debt circle, so less transactions in these currencies only expedites their eventual crash.
That being said nothing is certain with BTC, it may fail and it may prevail. What is certain is that the USD is going to crash, and eventually it will no longer be the world reserve currency. This should be common knowledge by now, I would expect most people in the Bitcoin forums to understand the economics at work here.
As far as I am concerned BTC is a legitimate currency and I would use it for both investment and for purchasing goods/services.
If you want to help secure your investment in BTC, reach out to vendors and ask them to start accepting BTC. I'm at a point now where I will only donate to charities if they accept BTC donations. I will take the same stance on any good/service if an alternative is available in BTC. Day trading is fine, but if your ultimate goal is to only end up with more USD in your bank account then you are missing the entire point of Bitcoin.
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