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pbody (OP)
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December 10, 2013, 03:47:12 AM |
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I bought out at 750 in a well thought out panic. This is slightly above where I originally got in. Figured it was insurance. Now I want to get back in. I'm torn on waiting till it drops below 750 or just cut my losses as insurance and get the hell back on the boat. Thots?
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GeniuSxBoY
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December 10, 2013, 03:50:17 AM |
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Good things come to those who are patient.
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Be humble!
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I_bitcoin
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December 10, 2013, 03:55:07 AM |
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Good things come to those who are patient.
I think the next floor will be higher. There seems to be an incredibly brief window where things go below the floor (flash crash). Maybe she will get lucky. |
No matter where you go, there you are.
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checkers6676
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December 10, 2013, 04:03:29 AM |
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It will continue to test the 950+ range this week
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Sindelar1938
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December 10, 2013, 04:13:40 AM |
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Around $800 if it goes back there again
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Peter R
Legendary
 Offline
Activity: 1162
Merit: 1007
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December 10, 2013, 04:16:49 AM |
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I bought out at 750 in a well thought out panic. This is slightly above where I originally got in. Figured it was insurance. Now I want to get back in. I'm torn on waiting till it drops below 750 or just cut my losses as insurance and get the hell back on the boat. Thots?
Never go full fiat. If you have zero bitcoins the time to buy is always now. If you sold only part of your coins, then, sure, go ahead and try to time the market. |
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PenAndPaper
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December 10, 2013, 04:18:41 AM |
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I don't think that panic buy is the way to fix a panic sell  |
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jones31
Newbie
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Activity: 28
Merit: 0
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December 10, 2013, 04:23:19 AM |
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I bought out at 750 in a well thought out panic. This is slightly above where I originally got in. Figured it was insurance. Now I want to get back in. I'm torn on waiting till it drops below 750 or just cut my losses as insurance and get the hell back on the boat. Thots?
If you're going to trade , the first thing is to get rid of the panic. Panicking will only do things worse the next time , and you'll gonna probably make a big mistake if you get carried away. Don't invest money that you need for daily needs. Think of bitcoin as an investment that you don't really need to touch in the coming years. Also , best advice that worked for the last three "crashes" , HOLD. |
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seriouscoin
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December 10, 2013, 04:29:50 AM |
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I bought out at 750 in a well thought out panic. This is slightly above where I originally got in. Figured it was insurance. Now I want to get back in. I'm torn on waiting till it drops below 750 or just cut my losses as insurance and get the hell back on the boat. Thots?
If you're going to trade , the first thing is to get rid of the panic. Panicking will only do things worse the next time , and you'll gonna probably make a big mistake if you get carried away. Don't invest money that you need for daily needs. Think of bitcoin as an investment that you don't really need to touch in the coming years. Also , best advice that worked for the last three "crashes" , HOLD. HOLD if you dont know sell or buy. Never sell in a crashes.. Sell when price is steady and you're comfortable with the price. Day traders will say otherwise but the truth is.... most if not all day traders are only making just above mini wage... considering their time and psychological stress. |
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MAbtc
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December 10, 2013, 04:46:51 AM |
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Three days ago when the exchange rate was below $600.
Very helpful.  |
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pbody (OP)
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December 10, 2013, 04:54:21 AM |
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If your planning on trading your value by the hour, buy at anytime and only sell higher. If you buying to sit on it, it won't matter when you buy because the gains you experience will negate any savings you may have had trying to save a quick buck. When it breaks 1,000.. its going up up and away.. so perhaps wait for that. Or just do some more research in the meantime.
Your right, it really doesnt matter when I get in. I did a lot of research today and am now in for the long haul. It seems every trader has to go through this to learn. You can talk about it all day but nothing like actually playing the game while the price is diving and the LA Times is messing with your head with stupid articles. No selling, only buying from now on. |
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romerun
Legendary
Offline
Activity: 1078
Merit: 1001
Bitcoin is new, makes sense to hodl.
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December 10, 2013, 04:56:29 AM |
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sell high, buy higher
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btbrae
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December 10, 2013, 05:09:18 AM |
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Everyone's trying to catch this one, there are a lot more believers this time round... heels are dug in, expect a long wait for your buying opportunity.
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Nolo
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December 10, 2013, 05:09:54 AM |
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If your planning on trading your value by the hour, buy at anytime and only sell higher. If you buying to sit on it, it won't matter when you buy because the gains you experience will negate any savings you may have had trying to save a quick buck. When it breaks 1,000.. its going up up and away.. so perhaps wait for that. Or just do some more research in the meantime.
Your right, it really doesnt matter when I get in. I did a lot of research today and am now in for the long haul. It seems every trader has to go through this to learn. You can talk about it all day but nothing like actually playing the game while the price is diving and the LA Times is messing with your head with stupid articles. No selling, only buying from now on. Welcome to the club |
Charlie Kelly: I'm pleading the 5th. The Attorney: I would advise you do that. Charlie Kelly: I'll take that advice under cooperation, alright? Now, let's say you and I go toe-to-toe on bird law and see who comes out the victor? The Attorney: You know, I don't think I'm going to do anything close to that and I can clearly see you know nothing about the law.
19GpqFsNGP8jS941YYZZjmCSrHwvX3QjiC
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Peter R
Legendary
Offline
Activity: 1162
Merit: 1007
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December 10, 2013, 05:17:35 AM |
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If your planning on trading your value by the hour, buy at anytime and only sell higher. If you buying to sit on it, it won't matter when you buy because the gains you experience will negate any savings you may have had trying to save a quick buck. When it breaks 1,000.. its going up up and away.. so perhaps wait for that. Or just do some more research in the meantime.
Your right, it really doesnt matter when I get in. I did a lot of research today and am now in for the long haul. It seems every trader has to go through this to learn. You can talk about it all day but nothing like actually playing the game while the price is diving and the LA Times is messing with your head with stupid articles. No selling, only buying from now on. Yes, welcome to the club, pbody. If/when your BTC wealth becomes a decent fraction of your net worth, please consider applying Risto's SSS divestment plan ( https://bitcointalk.org/index.php?topic=345065.0). Once you've divested your initial investment, the crashes are a lot more tolerable. |
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TERA
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December 10, 2013, 06:05:49 AM |
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Never chase the price while it's rising fast. Wait for the next dip and buy on the bounce on some trendline. Then you will have evidence that that higher prices are attainable and then the price you're buying at is supported, and after the quick bounce you will have immediate realized gains.
If you realize that the trend you bought on is becoming weak and breaking you can always sell. 90% of the time with this strategy you'll have a chance to sell at a profit even if the trend is failing.
On the other hand, if you panic buy during a rise you may find 10 seconds later you are already at a loss and cant get out.
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pbody (OP)
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December 10, 2013, 07:12:48 AM |
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Never chase the price while it's rising fast. Wait for the next dip and buy on the bounce on some trendline. Then you will have evidence that that higher prices are attainable and then the price you're buying at is supported, and after the quick bounce you will have immediate realized gains.
If you realize that the trend you bought on is becoming weak and breaking you can always sell. 90% of the time with this strategy you'll have a chance to sell at a profit even if the trend is failing.
On the other hand, if you panic buy during a rise you may find 10 seconds later you are already at a loss and cant get out.
Good advice. So simple yet so hard. I'm finding that a lagging exchange can also be useful for profit. |
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Elwar
Legendary
Offline
Activity: 3598
Merit: 2386
Viva Ut Vivas
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December 10, 2013, 07:31:25 AM |
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Buy when everyone else is in a "in a well thought out panic".
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First seastead company actually selling sea homes: Ocean Builders https://ocean.builders Of course we accept bitcoin. |
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piramida
Legendary
Offline
Activity: 1176
Merit: 1010
Borsche
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December 10, 2013, 08:36:00 AM |
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Never go full fiat. If you have zero bitcoins the time to buy is always now.
Nothing to add. Maybe this - never sell (even a portion) lower than you bought. It all sounds basic, but it's the only truth everyone should know about bitcoin trading. |
i am satoshi
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TERA
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December 10, 2013, 08:46:19 AM |
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Never go full fiat. If you have zero bitcoins the time to buy is always now.
Nothing to add. Maybe this - never sell (even a portion) lower than you bought. It all sounds basic, but it's the only truth everyone should know about bitcoin trading. I might add an exception to this - If you're in some really powerful downtrend and you know the price is about to drop 10% or more, you can play dead cat bounces and drops strategically trade your way out of the loss. Only do this if you're able to divert your complete attention to the market for the duration of the trade. When you sell you better have a plan about how you're going to immediately buy back within minutes, and have stop-loss (buy back) rules. |
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