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Author Topic: sold at $600. what to do?  (Read 7173 times)
John999
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November 22, 2013, 05:33:41 PM
 #21

Sell low/ buy high is a common mistake. Wait, we will see a pullback one way or the other.
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proudhon
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November 22, 2013, 05:34:19 PM
 #22

i freaked out and sold a large portion of my coins around $600, suspecting the price would continue to oscillate between $400-700 for a couple weeks... (i know)

do I

A) wait it out hoping for a better price to get back in
B) take a loss and buy back in at $750
C) ??

thanks guys

Where do you think bitcoin will be in 2 years?
trumbadera
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November 22, 2013, 05:39:40 PM
 #23

Sell low/ buy high is a common mistake. Wait, we will see a pullback one way or the other.

Unless you just buy and spend immediatelly, but without SR not best idea
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November 22, 2013, 05:56:34 PM
 #24

BUY BACK IN!!!!!!!!!!!!!!!!!!!!! We are still in a Daily and Weekly uptrend,,, just because there was a day of traders and I mean traders taking profits. Not people that don't do this every day of their life! Consider down days in an uptrend as a buying opportunity. The day candle didn't even close below the 8EMA you had more of a sell signal on Oct 26th. Not to forget we are in a huge bull market right now... You have to be crazy to be short. You're better off watching it go low and waiting to buy more or to buy back in. Otherwise you do what all ppl does get scared puke up your coins or shares at the low only to create the supply that the demand has been sitting there waiting for. 10 min later you are trying to figure out why it's going up now... Market must be rigged... No its called Fear and Greed. You should have bought back in right after it hit 600 again. Now you sit and think to yourself. But if I buy now, I wont have as many coins as before!!! But if you don't buy now you are going to watch the boat sail away!!!!!

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November 22, 2013, 06:09:32 PM
 #25

i freaked out and sold a large portion of my coins around $600, suspecting the price would continue to oscillate between $400-700 for a couple weeks... (i know)

do I

A) wait it out hoping for a better price to get back in
B) take a loss and buy back in at $750
C) ??

thanks guys

Buy back everything and have some fresh fiat ready in case it flash-crashes so you can make up the loss by buying more.

Just sell little by little in the future. Selling BTC is risky in itself - selling a large portion of one's stash is just reckless unless you've made so much profit you'll never need to worry about money ever again.

Good advice take the knock on the chin, chalk it up to experience and get on the train.

Thank me in Bits 12MwnzxtprG2mHm3rKdgi7NmJKCypsMMQw
davider
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November 22, 2013, 06:16:03 PM
 #26

If it can make you feel better, I sold at 500$.
I'll wait few days to see what happens.

After many many lessons in the last few months I completely agree that the buy and hold is the best strategy for bitcoin!
And also the never sell everything at one rule is pure gold.

Thanks everybody for the good advices.

Mirsad
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November 22, 2013, 06:17:08 PM
 #27

Best advice:
Never follow advise like "Buy back IN NOW!!!" -> most of the time it's a bulltrap and you could just have waited and bought more coins.

< 100 BTC is not worth mentioning. Poor souls will always remain poor. Don't miss the failtrain.
bassclef
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November 22, 2013, 06:23:16 PM
 #28

There is no good answer. This is why most day traders don't come out with profit, or a bigger coin stash.
windjc
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November 22, 2013, 06:25:17 PM
 #29

Best advice:
Never follow advise like "Buy back IN NOW!!!" -> most of the time it's a bulltrap and you could just have waited and bought more coins.

This is flat out simply HORRIBLE advice. Do not listen to it.  Sure we could go back down. But there is a very good chance that if we leave where we are today and go up we will never see this price again. This forum is littered with dozens of people who have made this mistake. We just had a 50% correction. This is not the time to sell.

If you haven't heard about what is happening with GAME, check it out.  It's revolutionizing gaming. https://bitcointalk.org/index.php?topic=1266597.0
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November 22, 2013, 06:27:14 PM
 #30

i freaked out and sold a large portion of my coins around $600, suspecting the price would continue to oscillate between $400-700 for a couple weeks... (i know)

do I

A) wait it out hoping for a better price to get back in
B) take a loss and buy back in at $750
C) ??

thanks guys

Where do you think bitcoin will be in 2 years?

everywhere

Mirsad
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November 22, 2013, 06:28:10 PM
 #31

Of course it's not the time to sell, but also not to buy back.

If it's going to the moon, does it really matters if he bought the coins @ 760 or 850$ ?
No, it doesn't.

You all "believe" in bitcoin, so you are not for the short term profit -> doesn't really matter when you buy


But why take the risk in such a situation? It looks like a double top in all other exchanges then bitstamp.

< 100 BTC is not worth mentioning. Poor souls will always remain poor. Don't miss the failtrain.
sumantso
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November 22, 2013, 06:29:36 PM
 #32

I bet after reading through the thread the OP will be none the more wiser Grin

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November 22, 2013, 06:31:26 PM
 #33

I bet after reading through the thread the OP will be none the more wiser Grin

no but everyone seem to be getting it right.

HOLD! your position.

whats the worst that can happen....

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November 22, 2013, 06:31:40 PM
 #34

We're coming up on a weekend.  Traditionally, we see some dips on the weekend.  Wasn't the case last weekend though.   Grin  Might want to just prepare to start buying back slowly but anticipate a drop over the weekend.  If it drops significantly, you can dollar cost average out the buys you made at $750+. If it doesn't drop, at least you still have coins.  Good luck brother.

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bumpk1nK
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November 22, 2013, 06:34:15 PM
 #35

Before you decide what to do, place buy orders under $600, you never know when bear trap comes  Smiley

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GriTBitS
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November 22, 2013, 06:46:17 PM
 #36

Best advice:
Never follow advise like "Buy back IN NOW!!!" -> most of the time it's a bulltrap and you could just have waited and bought more coins.

This is flat out simply HORRIBLE advice. Do not listen to it.  Sure we could go back down. But there is a very good chance that if we leave where we are today and go up we will never see this price again. This forum is littered with dozens of people who have made this mistake. We just had a 50% correction. This is not the time to sell.


Thanks bro!

Ibian
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November 22, 2013, 07:03:38 PM
 #37

It's mere days ago that the price was in the 500s. I bought a few coins at 700, being new and not thinking about rises and falls. We are at 740 now (average, stamp being higher). Buy & hold. That is the answer. Doesn't matter if the price dips lower than your buy price for a week or a month, it WILL go up again. Always does. Last time it took half a year. Doesn't matter, we are 3 times higher than the ATH at the time.

There is no bubble.
UnDerDoG81
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November 22, 2013, 07:10:11 PM
 #38

Same problem here. I´m not sure to buy now or wait till (if it ever again) drops. The course seems stable and does not rise wild like in the last 2 weeks.

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zeraTunerse
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November 22, 2013, 07:12:04 PM
 #39

It is the problem when you trading coins, you have to accept a loss sometimes...
Rampion
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November 22, 2013, 07:20:08 PM
 #40

This thread is quite bullish. Panic buying is in the air Cheesy

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