sold at $600. what to do?

[nanobtc]

I keep 50/50 fiat/btc in an exchange. I keep two bid/ask orders 11% below/above the current price. During big swings in either direction I manually change that difference to 20% or more.

[Sindelar1938]

It's gonna take a little balls but I think we will see a significant correction at some point...

[slikes]

I sold at ¥3000 on BTC China. I'm just now buying back in at ¥5400. I've been praying for the price to dip for the last few days, but things are relatively stable compared to Monday. A crash is a few days off at least in my eyes.

[bitmarket.io]

Thanks for the advice everyone.

I bought some back today.  If the price goes up, great.  If it drops, I'll buy back the rest.  

Am I an idiot?  Yes.  

Not an idiot at all. We all succumb to temptation.  It's only worse when you monitor it every second of your life.

I have converted 1/3 of my coins into casascius coins I believe are worth having.  It's a great way to limit yourself from completely cashing out.  It's worked for me.  I forgot about these coins as they just sit in a dark safe, and yet despite all the ups and downs, these coins have been continuously on the ride to the top.  Sometimes I pepper the coins all over desk, around the iMac as I work.  Makes me feel good looking at all that shine and ever-growing value.

I bought a bunch back at $770 the other day and do not regret it one bit as it's almost $870 today. I use coinbase pricing.

If you look back a few days you see there was ALMOST a chain reaction as it was nose diving, but it bounced back around $400 (the lowest), so if all goes to hell, the most I could lose is half of my investment. I don't believe it will just vanish unless someone hacks me or robs me of my physical coins.  And now it seems to have stabilized after that chaotic day.  I feel pretty confident and I listed my reasons in this topic in a previous post.

Anyway enough of my rant.  Best of luck to you and I hope you join us on the road to $1K and beyond!    

[kevschmitt]

I keep 50/50 fiat/btc in an exchange. I keep two bid/ask orders 11% below/above the current price. During big swings in either direction I manually change that difference to 20% or more.

I use a similar strategy, and it's helped keep the emotions out.  I keep 20% in fiat, 80% BTC.   This automatically sells whats high and buys what's low.   

[darkshadowgirl]

I did the exact opposite of you  . I Bought at 600$

Duh. 

[jerelimZ]

I keep 50/50 fiat/btc in an exchange. I keep two bid/ask orders 11% below/above the current price. During big swings in either direction I manually change that difference to 20% or more.

What happens if big dump happens, you auto buy BTC with all fiat? It might be problem to sell the BTC for higher price than you bought, no?

[600watt]

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

 


op was right to buy back some (50% ?).

what are you doing with the other half?

[favelle75]

Took 0.5 BTC and sold last week at $720. Bought back at $380 and sold again at $450. Bought at $435 and then sold at $580.  Just bought in this week at $633 and sold this morning at $829. Seems like a pretty easy way to increase your coins without actually doing anything...

[bassclef]

Took 0.5 BTC and sold last week at $720. Bought back at $380 and sold again at $450. Bought at $435 and then sold at $580.  Just bought in this week at $633 and sold this morning at $829. Seems like a pretty easy way to increase your coins without actually doing anything...

Except for the one time you sell and the price doesn't go down.

[600watt]

Took 0.5 BTC and sold last week at $720. Bought back at $380 and sold again at $450. Bought at $435 and then sold at $580.  Just bought in this week at $633 and sold this morning at $829. Seems like a pretty easy way to increase your coins without actually doing anything...

Except for the one time you sell and the price doesn't go down.

it´s like nl hold'em poker. you can do very well at all those little moves, but one incident of bad luck or mistake can take you all (your coins) out

[Mirsad]

Took 0.5 BTC and sold last week at $720. Bought back at $380 and sold again at $450. Bought at $435 and then sold at $580.  Just bought in this week at $633 and sold this morning at $829. Seems like a pretty easy way to increase your coins without actually doing anything...

Except for the one time you sell and the price doesn't go down.

it´s like nl hold'em poker. you can do very well at all those little moves, but one incident of bad luck or mistake can take you all (your coins) out

Not true.
You can reduce the profit with bad trading. But when you never buy high and sell low, you'll allways increase your wealth. Possible not in BTC, but in total fiat+btc.

[UnDerDoG81]

Took 0.5 BTC and sold last week at $720. Bought back at $380 and sold again at $450. Bought at $435 and then sold at $580.  Just bought in this week at $633 and sold this morning at $829. Seems like a pretty easy way to increase your coins without actually doing anything...

Except for the one time you sell and the price doesn't go down.

it´s like nl hold'em poker. you can do very well at all those little moves, but one incident of bad luck or mistake can take you all (your coins) out

Not true.
You can reduce the profit with bad trading. But when you never buy high and sell low, you'll allways increase your wealth. Possible not in BTC, but in total fiat+btc.

Not on gox with 0.6% fee... only when big price changes are.

[saddambitcoin]

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

 


op was right to buy back some (50% ?).

what are you doing with the other half?

i bought back 25% of the BTC i sold.  i only buy what i can afford to lose and that's about it for right now.  

the rest of the money is waiting for another dump before 1000.

[favelle75]

Took 0.5 BTC and sold last week at $720. Bought back at $380 and sold again at $450. Bought at $435 and then sold at $580.  Just bought in this week at $633 and sold this morning at $829. Seems like a pretty easy way to increase your coins without actually doing anything...

Except for the one time you sell and the price doesn't go down.

it´s like nl hold'em poker. you can do very well at all those little moves, but one incident of bad luck or mistake can take you all (your coins) out

Not true.
You can reduce the profit with bad trading. But when you never buy high and sell low, you'll allways increase your wealth. Possible not in BTC, but in total fiat+btc.

Exactly. You only lose when you get caught in the bear or bull traps. I determine my wealth by total fiat+BTC...so I try not to "buy back" when it incurs a loss of either. ie, don't panic FFS.

[600watt]

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

 


op was right to buy back some (50% ?).

what are you doing with the other half?

good luck, mate. surely know how it feels.

losing coins is just terrible.

[n691309]

Took 0.5 BTC and sold last week at $720. Bought back at $380 and sold again at $450. Bought at $435 and then sold at $580.  Just bought in this week at $633 and sold this morning at $829. Seems like a pretty easy way to increase your coins without actually doing anything...

Except for the one time you sell and the price doesn't go down.

it´s like nl hold'em poker. you can do very well at all those little moves, but one incident of bad luck or mistake can take you all (your coins) out

Not true.
You can reduce the profit with bad trading. But when you never buy high and sell low, you'll allways increase your wealth. Possible not in BTC, but in total fiat+btc.

But in the example above and always selling all, he might never rebuy BTC back after $580 sell. So he is plus with fiat, but missing oppurtunity with BTC future

[nanobtc]

I keep 50/50 fiat/btc in an exchange. I keep two bid/ask orders 11% below/above the current price. During big swings in either direction I manually change that difference to 20% or more.

What happens if big dump happens, you auto buy BTC with all fiat? It might be problem to sell the BTC for higher price than you bought, no?

I keep most of my BTC in cold storage, and just a couple to play with like this.  In the case of a big dump, I am happy to buy more coins cheap. I believe in the future of BTC, and believe that it will mostly go up in the long run. I would be more worried about a big rally that kept going on, and having more $$$ than BTC at the end.

It's Goxtool, a bot in Linux running a balancer strategy and if it keeps going in either direction it continually places smaller and smaller orders to not get too far from 50/50. I can sleep and work knowing it will catch changes. In the present rally, I have it set for 20%, so that also slows it down (and reduces Gox fees with less frequent trading).

I am a computer guy, not an investing guy, here were my Four Steps to Know That I am Not a BTC Trader (at this point).

1. Newbie, bought half a coin.
2. Placed an ask for it all 50% higher, it hit.
3. Placed a bid for it all at a steep profit, it hit. I SHOULD QUIT MY JOB, THIS IS EASY!
4. Repeat a few times, lost $80. I DON'T KNOW WHAT I AM DOING! THIS IS NOT SO EASY!

So, running the bot is a lot easier and a lot more reliable than me doing it. It basically buys on the way down, and sells on the way up in small amounts. The BTC market is strange and fascinating, and I have learned a lot.

[accord01]

I would suggest to buy right now as in within the next 10 sec, before prices jump over 800 again and don't look back for the next 4-5days, then it is on to testing 999

[raskolnikovx]

I sold some Btc at 680 USD and a little more at 750 before prices shoot up to 800-900
As I cannot tell whats going on anymore I used the money to buy Litecoins when they where around 7-8 USD.
Litecoins are today at 16 USD and going up so I doubled my money.
I wont be operating Bitcoin for a while. Things are just crazy.