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davidgdg (OP)
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November 05, 2013, 01:21:16 PM |
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It's at times like this that my principles of Buy And Hold get seriously tested. Thanks goodness for cold storage. It makes it too much hassle to sell....
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"There is only one thing that is seriously morally wrong with the world, and that is politics. By 'politics' I mean all that, and only what, involves the State." Jan Lester "Escape from Leviathan"
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The Bitcoin network protocol was designed to be extremely flexible. It can be used to create timed transactions, escrow transactions, multi-signature transactions, etc. The current features of the client only hint at what will be possible in the future.
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billington.mark
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November 05, 2013, 01:24:20 PM |
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It's at times like this that my principles of Buy And Hold get seriously tested. Thanks goodness for cold storage. It makes it too much hassle to sell....
If only i did that back when BTC was at $30 a couple of years ago... id be a millionaire now at these prices! hindsight eh... |
BTC - 1MarkBCmVn3yp1SB9RZZ7VfqJzkpV8Hmdo
BitMessage - BM-GtZkeAbmKGs77FEoigm9TmsQBSfvMB3N
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Miz4r
Legendary
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Activity: 1246
Merit: 1000
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November 05, 2013, 01:29:02 PM |
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It's at times like this that my principles of Buy And Hold get seriously tested. Thanks goodness for cold storage. It makes it too much hassle to sell....
If only i did that back when BTC was at $30 a couple of years ago... id be a millionaire now at these prices! hindsight eh... Good thing bitcoin always gives people a second chance, don't screw it up again this time...  |
Bitcoin = Gold on steroids
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Shermo
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November 05, 2013, 01:37:41 PM |
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I sold about 60% of my BTC last week when it started to dip as I wanted to recover my initial investment so what remained was pure profit. Now the price is a lot higher and I really wished I'd held longer, but still I am sat on roughly 25BTC and that is all profit so I am relatively happy still  I do kinda wish I hadn't sold so many last year though, but thats life eh? |
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wachtwoord
Legendary
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Activity: 2324
Merit: 1125
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November 05, 2013, 01:41:39 PM |
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It's at times like this that my principles of Buy And Hold get seriously tested. Thanks goodness for cold storage. It makes it too much hassle to sell....
I have the opposite feeling. I feel very good when I see the price rising every time but when it starts dropping I just laugh it off and think: ah next time then. I never have the inclination to sell all my coins. I feel like Sméagol. Sell my precious? NO! NEVER! Gollem! |
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TERA
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November 05, 2013, 02:26:36 PM |
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But in cold storage you cannot take a margin position.
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davidgdg (OP)
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November 05, 2013, 02:31:45 PM |
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But in cold storage you cannot take a margin position.
I've tried margin trading in the past. The nausea it induces when the market moves against you makes the worst hangover seem like nothing. Never again. |
"There is only one thing that is seriously morally wrong with the world, and that is politics. By 'politics' I mean all that, and only what, involves the State." Jan Lester "Escape from Leviathan"
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Missionary
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November 05, 2013, 02:33:10 PM |
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Yeah. 95% of my Bitcoins are "dead" to me. It's the only mindset I can have if I don't want to go mad and broke in the process.
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I am an evangelical missionary heading to China. Donations are welcome here (dedicated wallet): 1H8iswayfTaRb6oe2WjMCRmchBJHYyfx9z You can find more information about my plans here: http://btcmission.com |
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simplydt
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November 05, 2013, 03:21:41 PM |
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But in cold storage you cannot take a margin position.
I've tried margin trading in the past. The nausea it induces when the market moves against you makes the worst hangover seem like nothing. Never again. hahaha very nice way to describe it Its indeed how it is. |
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TERA
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November 05, 2013, 03:51:11 PM |
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But sometimes you are 100% confident in an up move. For example 140 after silk road, and 205 now, I was 90% confident in a massive breakout. I went all in both times but chickened out of margin. Now I know that I'm only making X per tick when I could be making 3X per tick, and I'm pissing away 2x for no reason. I feel like Im cheating myself out of getting rich and I'm this lonely bear that didn't even buy in the first place.
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davidgdg (OP)
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November 05, 2013, 04:43:28 PM |
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But sometimes you are 100% confident in an up move. For example 140 after silk road, and 205 now, I was 90% confident in a massive breakout. I went all in both times but chickened out of margin. Now I know that I'm only making X per tick when I could be making 3X per tick, and I'm pissing away 2x for no reason. I feel like Im cheating myself out of getting rich and I'm this lonely bear that didn't even buy in the first place.
Maybe, but you still made the right decision, unless you have b*lls of steel and pockets a mile deep. And if you have those, then why bother with margin in the first place? |
"There is only one thing that is seriously morally wrong with the world, and that is politics. By 'politics' I mean all that, and only what, involves the State." Jan Lester "Escape from Leviathan"
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N12
Donator
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Activity: 1610
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November 05, 2013, 04:44:51 PM |
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If you have an edge, you will get wealthy quickly enough. I don't like margin.
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wachtwoord
Legendary
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Activity: 2324
Merit: 1125
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November 05, 2013, 04:47:10 PM |
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But in cold storage you cannot take a margin position.
We all know Warren Buffen and Charlie Munger. Do you know their third partner? Me neither, he traded on margin and git liquidated in the 80s having to sell BRK-A shares for about $20. Buffet said his mistake wasn't wanting to become rich but wanting to become rich fast. |
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amadeo
Newbie
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Activity: 26
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November 05, 2013, 04:49:10 PM |
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I wish I had done the same and thought that the bitcoins I bought at $86 in the SR 'brief crash' were dead to me. But I didn't, I guess this is how you get experience.
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thetopham
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Activity: 56
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November 05, 2013, 04:52:26 PM |
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I wish I had done the same and thought that the bitcoins I bought at $86 in the SR 'brief crash' were dead to me. But I didn't, I guess this is how you get experience.
yeah I bought at 200 then held while it crashed to 170, then sold at 205 right before it skyrocketed up to 250 now FML HINDSIGHT WHYYYYY DID I TRY TO BUY LOW SELL HIGH WHYYYY |
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wachtwoord
Legendary
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Activity: 2324
Merit: 1125
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November 05, 2013, 04:55:28 PM |
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I wish I had done the same and thought that the bitcoins I bought at $86 in the SR 'brief crash' were dead to me. But I didn't, I guess this is how you get experience.
yeah I bought at 200 then held while it crashed to 170, then sold at 205 right before it skyrocketed up to 250 now FML HINDSIGHT WHYYYYY DID I TRY TO BUY LOW SELL HIGH WHYYYY Buy low, don't sell |
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peonminer
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November 05, 2013, 04:56:21 PM |
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I wish I had done the same and thought that the bitcoins I bought at $86 in the SR 'brief crash' were dead to me. But I didn't, I guess this is how you get experience.
yeah I bought at 200 then held while it crashed to 170, then sold at 205 right before it skyrocketed up to 250 now FML HINDSIGHT WHYYYYY DID I TRY TO BUY LOW SELL HIGH WHYYYY Always gets me too. CAPTAIN HINDSIGHT TO THE RESCUE |
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oda.krell
Legendary
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Activity: 1470
Merit: 1007
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November 05, 2013, 05:22:47 PM |
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But in cold storage you cannot take a margin position.
We all know Warren Buffen and Charlie Munger. Do you know their third partner? Me neither, he traded on margin and git liquidated in the 80s having to sell BRK-A shares for about $20. Buffet said his mistake wasn't wanting to become rich but wanting to become rich fast. Actually I *do* remember reading about the third guy. Forgot his name though  Buffet also acknowledged that the guy was a brilliant trader and made huge profits at times, just not consistent enough. I should look up the article I read about this... Guess my point is, margin trading can work in a few special situations (like the aforementioned recovery after the SR flash crash), but it's probably not a good idea to let it become a habit. |
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crazy_rabbit
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RUM AND CARROTS: A PIRATE LIFE FOR ME
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November 05, 2013, 05:32:07 PM |
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But sometimes you are 100% confident in an up move. For example 140 after silk road, and 205 now, I was 90% confident in a massive breakout. I went all in both times but chickened out of margin. Now I know that I'm only making X per tick when I could be making 3X per tick, and I'm pissing away 2x for no reason. I feel like Im cheating myself out of getting rich and I'm this lonely bear that didn't even buy in the first place.
Greed will do you many bad things. |
more or less retired.
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nanobtc
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November 05, 2013, 05:35:37 PM |
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One of the best traders was Jesse Lauriston Livermore. He made and lost millions in the 1930's. He committed suicide in 1940. edit: I am not an experienced trader, but I very much enjoyed the book about his life. It taught me much of the fundamentals. A good quote: "A stock operator has to fight a lot expensive enemies within himself." |
Lennon: "free as a bird"
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