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Minsc
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October 22, 2011, 09:24:03 AM
 #1

1) Sell now before it drops again?
2) Hold on and wait for it to rise more?

Usually when I do #2, it turns out everyone has done #1 and the price tanked lower than when I bought it.  Sometimes it will even linger around where I bought it at and then I go, "no it will go back up" and then it goes even lower than I bought it and so I just go and sell before it drops lower and well I did that last time and I'm glad because that's when it dropped to the $2 range.  But I'm waiting till the end of November to buy coins because that's the bottom before it rises in December and 2012.

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October 22, 2011, 09:31:44 AM
 #2

1) Sell now before it drops again?
2) Hold on and wait for it to rise more?

Usually when I do #2, it turns out everyone has done #1 and the price tanked lower than when I bought it.  Sometimes it will even linger around where I bought it at and then I go, "no it will go back up" and then it goes even lower than I bought it and so I just go and sell before it drops lower and well I did that last time and I'm glad because that's when it dropped to the $2 range.  But I'm waiting till the end of November to buy coins because that's the bottom before it rises in December and 2012.

Just sold some, but expect to buy back some time during the next few days. An exit at this point seems unwise - if the rally does not stop you're in danger to miss it.

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October 22, 2011, 09:46:18 AM
 #3

1) Sell now before it drops again?
2) Hold on and wait for it to rise more?

3) Trade on the way up and trade on the way down.  Don't be bothered by whether tomorrow's price is higher or lower than today's.  Buy in small increments and trade them when profitable.


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October 22, 2011, 10:33:58 AM
 #4

I anticipated the big crash to $2 and made a complete exit before that, at around $4. Now I'm completely in day trading mode until we have a low that looks significantly more stable than the lows in the past 4 months.

Actually managed to anticipate this rally as well, bought all-in at $2.3. Now I'm mostly out again but keeping some for $3.x overshoot. But if it looks like we're going to see an extended rally I'm prepared to buy again soon.

So this time I have to agree with Cluster2k and go with option 3), at least until we have much stronger signals for the mid term and long term situations. Then I might just go back to holding long.  

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October 22, 2011, 02:13:54 PM
 #5

The trick you see is to buy when the price is low and the sell when it's high.

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BitMagic
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October 26, 2011, 03:37:16 PM
 #6

The trick you see is to buy when the price is low and the sell when it's high.

Well, I follow the contrarian school and buy high, sell low (relative of course to previous holdings). That way I'm holding when it grows, and removing positions as it falls. It has the additional advantage of bucking conventional movements by most speculators. I have made some 1-on-1 individual transactions outside of the exchanges as well as through loans (1-on-1 short contracts), and done quite well.

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October 29, 2011, 02:39:39 AM
 #7

The trick you see is to buy when the price is low and the sell when it's high.

congratulations to your promotion, marshal!

it is nevertheless true

Wink
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October 29, 2011, 02:45:26 AM
 #8

Hold, sell, buy, hold, sell.

With the volatile markets and the ability to short sell, there is still a hell of a lot of money to be made trading BTC's - though the profits I earn are from the losses others make. If you are looking for a safe long-term investment though, all I can say is lol.
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