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Author Topic: I sold out yesterday hoping it would fall..  (Read 2144 times)
abel1337
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November 22, 2013, 08:04:25 PM
 #1

Bitcoin hasn't fallen like I thought it was going to. I had a buy order in at 500.. Do you guys think it will ever go back to 500? Im scared because every second that passes, I am losing fractions of bitcoins. Please help. I know almost nothing about trading and I need help because I have no idea what I am doing. Thanks


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1511371557
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November 22, 2013, 08:06:53 PM
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I know almost nothing about trading and I need help because I have no idea what I am doing.

Maybe you just shouldn't trade then?

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Martijnvdc
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November 22, 2013, 08:11:27 PM
 #3

You shouldn't trade unless you know what you're doing.
It's possible the price will go down again, but it's very hard to guess...
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November 22, 2013, 08:15:40 PM
 #4

With this votality i wouldnt go for long term trades. Watch the charts at http://bitcoinwisdom.com and learn when it will potentially go up. In the last days im making +5% every day with just trading 2-5 times a day for only a plus of $5-$10 a trade.

Just dont jump in blind, this way i also lost up to 50% of my investment. Now im Up 75%.
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November 22, 2013, 08:21:09 PM
 #5

To keep their lawyers happy, investment professionals often point out that past results do not guarantee future performance.  However, every good investor knows that "the trend is your friend."  The fact is that past performance is the best predictor of future performance.

The long-term trend is upward price movement by 7X per year.  If that continues, a $1,000 investment could be worth $16,000,000 in five years.  Even if the rate drops somewhat, it will probably still outperform all other asset classes for the next five years.  So "buy and hold" is a safe strategy.

It's hard to actively trade Bitcoin because you tend to be holding fiat through the major run ups.  Experts with computer trading programs do OK, but the average Joe is better off just holding forever.

Unless everyone loses interest and it drops to zero.  There are no guarantees.  So only invest money you can afford to lose.

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coinminers
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November 22, 2013, 08:29:51 PM
 #6

Bitcoin hasn't fallen like I thought it was going to. I had a buy order in at 500.. Do you guys think it will ever go back to 500? Im scared because every second that passes, I am losing fractions of bitcoins. Please help. I know almost nothing about trading and I need help because I have no idea what I am doing. Thanks

Do not day trade bitcoin.

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abel1337
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November 22, 2013, 08:30:47 PM
 #7

Nobody thinks its too expensive for a bitcoin right now? Maybe Ill put in an order for 550.. Ugh I just want my bitcoins back!!! lol


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Mondy
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November 23, 2013, 01:26:13 AM
 #8

Did you buy them?

fran2k
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November 23, 2013, 05:54:01 AM
 #9

Bitcoin hasn't fallen like I thought it was going to. I had a buy order in at 500.. Do you guys think it will ever go back to 500? Im scared because every second that passes, I am losing fractions of bitcoins. Please help. I know almost nothing about trading and I need help because I have no idea what I am doing. Thanks

Trading isn't not easy.

Just play poker with friends.

Hold bitcoin and buy pizzas with them.
kireinaha
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November 23, 2013, 08:11:22 AM
 #10

Will it reach $500 again? haha, yes it will, you just need to be patient, okay? Too many novices pick a price point, and then cave after two days when things don`t go exactly as they planned. Well, guess what... it hardly ever goes as planned, even for seasoned veterans. You need to remove your emotions from the equation, make a plan and stick to it. Like others have said, don`t sell your entire holdings at once, likewise do not use your entire bankroll at once to buy. Create entry and exit points to buy/sell coins in segments and stick to them!

Night gathers, and now my bitcoinwisdom watch begins.
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November 23, 2013, 08:14:58 AM
 #11

Do not day trade bitcoin.

This.
If you need good profit, buy and forget them for some months,year.

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troy112
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November 23, 2013, 06:21:52 PM
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Will it reach $500 again? haha, yes it will, you just need to be patient, okay? Too many novices pick a price point, and then cave after two days when things don`t go exactly as they planned. Well, guess what... it hardly ever goes as planned, even for seasoned veterans. You need to remove your emotions from the equation, make a plan and stick to it. Like others have said, don`t sell your entire holdings at once, likewise do not use your entire bankroll at once to buy. Create entry and exit points to buy/sell coins in segments and stick to them!
I'll +1 that...
You need a plan before entering any market.. This bitcoin is advantageous and disadvantageous at the same point.
As Average Joe catches with the hype and wants to profit from the opportunity, opportunity becomes obsolete and  most of the time they losses money..
And this time computer engg. and programmers are coming in the market just like heard of cows and getting slaughtered.
Best for you as all off the above people said. Risk what you can, and leave it ... otherwise learn.
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November 24, 2013, 03:06:26 PM
 #13

Do not day trade bitcoin.

This.
If you need good profit, buy and forget them for some months,year.

I can't agree anymore. Kiss

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November 24, 2013, 04:09:01 PM
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I think Bitcoins could have another strong dip. Probably to the 300-400 range. It won't stay that low though. Should bounce up pretty quick.
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November 24, 2013, 06:46:44 PM
 #15

I really don't think they are going to fall anytime soon

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troy112
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November 24, 2013, 07:23:58 PM
 #16

Depends on what news we will get in next few days, if its good it will hit above 1000 other wise who knows what..
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November 24, 2013, 08:04:36 PM
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Depends on what news we will get in next few days, if its good it will hit above 1000 other wise who knows what..

+1  Grin
jzcjca00
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November 25, 2013, 12:13:49 AM
 #18

The press has been tripping over themselves to find things to write about Bitcoin recently, and Google Trends says searches for the term "Bitcoin" recently hit an all time high.  So short-tem prospects are very good.  I'm expecting to see $1000, and maybe even $1200, within a week.

When the media moves on to their next fad, we might see interest and prices fall off a bit, then move sideways for a few months.  We might still only be around $1,000 a few months from now.

OTOH, the Chinese government recently said owning Bitcoin is legal, and SecondMarket is exceeding their targets, and some investment professionals are getting on board, so there are buyers out there to drive the price up.  We might not get a breather at all.

I think if the Winklevoss ETF ever gets approved and launches, we'll see a huge run up, of course with all the usual panic buying and big correction.  If that happens, we could be at $10,000 a year from now.


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troy112
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November 25, 2013, 03:34:24 PM
 #19

yea.. if it gets approved, we'll see strings of other ETFs coming very soon. and it might not take even an year..
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November 25, 2013, 03:54:15 PM
 #20

You guys shouldn't wring your hands too much whether 500 or 600 or 800 is a good price. Anything under a 1000 is still insanely cheap.

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