Thinking about shorting bitcoins right now

[accord01]

it is @ 1030 stamp, and 1100 gox... thinking that we may have reached a top right now for the next 7-10 days.  Your thoughts?

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[ElectricMucus]

dont fucking short btc you idiots

[Bitbuy]

it is @ 1030 stamp, and 1100 gox... thinking that we may have reached a top right now for the next 7-10 days.  Your thoughts?

I don't think we've seen the top this week....1300 USD might be achieved.

[TheQuin]

It's going to 1430 (gox) before the next pull back.

[accord01]

maybe i am just really salty right now.  this weekend manipulation/crash/correction just ruined my holidays...  Had a nice position going and it got liquidated/destoryed because 1) the platform i used was shut down/ddos 2) it happened during early sunday morning...

not sure what to do now... i want to find a good position to enter in so i can at least make back my gift money for other people... lol.

[wachtwoord]

dont fucking short btc you idiots

This.

[Elwar]

Wait for me to move some BTC for you to borrow at a high percentage before you do.

Though the fact that the return is usually only around 2% APY means that hardly anyone ever shorts.

For good reason.

MtGox at $1140 now.

[UnDerDoG81]

From my short experience, Tuesdays new money arrives and ATH´s get reached. From my short experience, if you have balls, friday/saturday is time to sell. People here are saying "dont ever sell on weekends" but I think exactly the oposit.

[bitleif]

maybe i am just really salty right now.  this weekend manipulation/crash/correction just ruined my holidays...  Had a nice position going and it got liquidated/destoryed because 1) the platform i used was shut down/ddos 2) it happened during early sunday morning...

Go read some Eckhart Tolle or something and soak it up. Shorting after a failed crash will only lose you more money.

[TheQuin]

maybe i am just really salty right now.  this weekend manipulation/crash/correction just ruined my holidays...  Had a nice position going and it got liquidated/destoryed because 1) the platform i used was shut down/ddos 2) it happened during early sunday morning...

not sure what to do now... i want to find a good position to enter in so i can at least make back my gift money for other people... lol.

That was a perfect 50% retrace, that's the opportunity to get long.

[Tirapon]

From my short experience, Tuesdays new money arrives and ATH´s get reached. From my short experience, if you have balls, friday/saturday is time to sell. People here are saying "dont ever sell on weekends" but I think exactly the oposit.

This is an astute observation. The weekend dip seems to happen consistently when Bitcoin is in rally mode - you can generally make 20% if you sell on Friday and buy back over the weekend (usually Sunday). This was exactly the same back in April.

Of course, it works like a charm until it doesn't - If you buy back one Sunday only to find it continues on downwards in the week, don't panic. Simply hold and wait for it to go back up in the long term.

[GigaCoin]

From my short experience, Tuesdays new money arrives and ATH´s get reached. From my short experience, if you have balls, friday/saturday is time to sell. People here are saying "dont ever sell on weekends" but I think exactly the oposit.

This is an astute observation. The weekend dip seems to happen consistently when Bitcoin is in rally mode - you can generally make 20% if you sell on Friday and buy back over the weekend (usually Sunday). This was exactly the same back in April.

Of course, it works like a charm until it doesn't - If you buy back one Sunday only to find it continues on downwards in the week, don't panic. Simply hold and wait for it to go back up in the long term.

Yeah i tried that an April, but i just kinda said fuck it at some point and did the old school buy and hold worked like a charm.

[zby]

From my short experience, Tuesdays new money arrives and ATH´s get reached. From my short experience, if you have balls, friday/saturday is time to sell. People here are saying "dont ever sell on weekends" but I think exactly the oposit.

This is an astute observation. The weekend dip seems to happen consistently when Bitcoin is in rally mode - you can generally make 20% if you sell on Friday and buy back over the weekend (usually Sunday). This was exactly the same back in April.

Of course, it works like a charm until it doesn't - If you buy back one Sunday only to find it continues on downwards in the week, don't panic. Simply hold and wait for it to go back up in the long term.

Weekends in November:

2 - 3      -      mostly flat
9 - 10    - rally on 9th correction on 10th - overall mostly flat
16 - 17  - rally
23 - 24  - rally with a correction - overall maybe a small dip
31 - 1    - now this was a dip

And the previous big correction was on a Tuesday.

There used to be some more complicated forumla for predicting when the weekend dip will happen - but I don't think it works much better. It is not so easy to earn on these weekend dips.

[byronbb]

Be very careful leveraging in either direction. Market can swing both ways massively.  Smarter and smarter groups with big money is emerging and hunting for n00b stops will become common.

[Tirapon]

I'd still say buy and hold is the best strategy. I have lost a lot of trades in BTC/USD. Fortunately, I have more than made up for these losses by trading various alts (mainly Litecoin).

I no longer trade BTC/USD.

[GriTBitS]

it is @ 1030 stamp, and 1100 gox... thinking that we may have reached a top right now for the next 7-10 days.  Your thoughts?

Shorting in a bull market is a fools game!

[antimattercrusader]

dont fucking short btc you idiots

lmao yes, this is a good point. I'd hate to short at 1050 and then realize an news story came out regarding Justin Bieber using bitcoin to buy his coke, and check bitcoinity to see it's at 3k. FUCK.

Too much potential upside.

[GriTBitS]

dont fucking short btc you idiots

lmao yes, this is a good point. I'd hate to short at 1050 and then realize an news story came out regarding Justin Bieber using bitcoin to buy his coke, and check bitcoinity to see it's at 3k. FUCK.

Too much potential upside.

Someone send Bieber some bitcoin!

[TERA]

Keep your liquidation price well below the bottom of the previous correction.  I had mine at 350 and then when the correction started I sold enough to drop it to 180.

[NUFCrichard]

Historically shorting bitcoin hasn't been very profitable.  You're braver than me if you do it!