Is this Good Stategy?

[outofservice]

New to trading and would like advice and/or opinions from some of your Veterans.

When btc was $500 I started my account, by the time the account, my info and bank info was verified it jumped to $950.
So I got in a 950.

With that in mind...
Now it's ~700, with the news out of China I feel it will cause a panic sell like the last round of news from them. Looks like it's kind of already began. So I see it going to $400-$450 especially this wk because of Christams next wk and ppl not buying and/or selling for extra holliday cash.

For this question let's use 450 as the next low.
Would it be good or bad strategy to sell half or all now to buy at the lower price? It would net more coin for holding long-term but how does buying at 950 and selling at 700 and buying again at 450 figure in?
*Is gaining more coin the only factor that should be looked at?


I'm not bear or bull but I'd def like to hear what each has to say. Please, let's have a good conversation and no fighting about other ideas.

Thanks.

[piramida]

If I were you, I'd just add to my position in the event btc would go as low as 500 or less. Selling especially now, at the local bottom, is unwise, because sooner or later bitcoin will recover. If it happens sooner rather than later, you would lose money. So - prepare to double your position at $450 with money at exchange, until then, don't worry.

PS and remember that thing about internet advices this is your money. I'm just saying what I'd do in your situation, but no two people have exactly the same situations.

[emanymton]

PS and remember that thing about internet advices this is your money. I'm just saying what I'd do in your situation, but no two people have exactly the same situations.

+1 trust nobody

[Ibian]

The only thing anyone can say for sure about the bitcoin price is that it is volatile and has a ridiculous upward trend. If you are not sure what to do, just buy and hold and enjoy calculating the swings in your net value the next time this happens.

[pbody]

So I see it going to $400-$450 especially this wk because of Christams next wk and ppl not buying and/or selling for extra holliday cash.

So your looking at about a 500 difference between where you ought and where you may buy again. It you sell now (around 700) your not really gaining that much. If I was in your shoes, I would hold it out unless I was expecting it to go lower than 350. You would not be gaining that much in profit, if all your predictions are true and you have exchange lag time, etc.

Also, I  have no idea what Im talking about. So take that for what its worth.

[hunnaryb]

Would it be good or bad strategy to sell half or all now to buy at the lower price? It would net more coin for holding long-term but how does buying at 950 and selling at 700 and buying again at 450 figure in?

If your right about this prediction your better selling now.
But if your wrong, you have to rebuy at a loss.
Playing market is zero sum game (with fees negative game), so you have to be right more often than others

[quone17]

If you bought as much as you could at $950, maybe that wasn't the best idea.  Maybe you should have put in half your money and then waited a month and put in another 25%.  So you did that you could buy more BTC the more it dips.  Now, if you don't have anything extra and you think it's going lower, sell a little so you can buy back if correct but if you're wrong, you will still make some money back.  But no one knows what it's going to do, so maybe it's the best idea to sell a little nad buy back if it heads lower, or else in another month.

[notme]

Or you could spare your nerves and quit trying to trade without knowing how.  The only way to learn is to make costly mistakes, so sometimes it is best to just be an investor if you haven't already learned the art.

[jmutch]

from experience, more often than not you loose money trying to play the market like that.

you have to make 3 risky trades to make a profit in your position. i'd hold and maybe buy a few more at a low to make yourself feel better. just like the second post said.

If you don't have any money left see it as a lesson

[BitcoinTate]

From personal experience I can tell you two things that I have witnessed & experienced with Bitcoin since the $10 days.

1) Never sell lower than you bought in, Bitcoin always bounces back and as soon as you sell it will bounce back above where you sold and you will panic buy losing part of your total amount of BTC.

2) Bitcoin is oversold at the current price. Buy now while it's cheap.

[Gemminyc]

So I see it going to $400-$450 especially this wk because of Christams next wk and ppl not buying and/or selling for extra holliday cash.

I though you read the today rumours and trully believe big crash is about to come...  But what if the rumours is just FUD and this is bear trap ?

[sgbett]

Or you could spare your nerves and quit trying to trade without knowing how.  The only way to learn is to make costly mistakes, so sometimes it is best to just be an investor if you haven't already learned the art.

shamone brother.

Though, I suspect there will still be a bit of 'plate touching' regardless of how good that advice is!

[infinitybo]

outofservice, just hold and everything is going to be alright soon.

[poewerden]

outofservice, just hold and everything is going to be alright soon.

Better is not looking at price daily, but damn, reading bitcointalk means you get last info anyway 

[Edward50]

I would say this, if you can cash out anywhere near $950 get the heck out. That is if it can rally up near that point. I would sell at $800 if it goes up that high.

You have seen nothing yet.

[sgbett]

Edward50 most likely right. Though of course it will only go to $200, where he will say it's going to $100

[outofservice]

Lot's of Great info and opinions here! For those who came with a sarcastic or negative reply... Go play in traffic.

I have tweaked my plan. There were things I had thought of but did not think they factored that heavily but quite a few of you mentioned it and that told me I needed to give it more thought and factor it into what I want to do.

I did not invest all at 950, I saved about a third of total funds for investing. The plan was to sell and add that to the funds on hand. The best scenario, which most of you recommended, is to hold what I already have. I do believe there is Serious Money to be made and we haven't begun to close to it's potential, when we get there 950 won't look bad at all.
As the price drops I'll go in when I feel comfortable.

Thanks for the advice, I almost pulled a rookie mistake but you guys came through!

This should be pinned for new or inexperienced investors to read.

[piramida]

Should you have sold, you could have gained extra 20%, but it would have been a gamble. The thing with bitcoin is - much easier to hold through volatile periods and buy low than wreck your nerves trying to guess bottoms and tops and lose all. So I'm glad you have the balls, you will be one of the winners in the end.

[johnblaze]

don't listen to any randoms on the internet

make your own best decision

[piramida]

don't listen to any randoms on the internet

... said a random on the internet