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Author Topic: Is this a wise decision?  (Read 1982 times)
Admired
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March 03, 2014, 06:41:07 AM
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So I have like 33 BTC and have a buy average of 705 USD as I got in the game late. Is it smart to just sell at a loss now in hopes the price will go down to the $400 to $500 range where I can get more btc for the price even though I will be still at a loss until like $650. I know a lot of you will be saying I should have sold earlier but I am a newbie and just kept hodling.
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rebel24
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March 03, 2014, 06:44:04 AM
 #2

So I have like 33 BTC and have a buy average of 705 USD as I got in the game late. Is it smart to just sell at a loss now in hopes the price will go down to the $400 to $500 range where I can get more btc for the price even though I will be still at a loss until like $650. I know a lot of you will be saying I should have sold earlier but I am a newbie and just kept hodling.

No definitely dont!!
see my previous threads I made earlier today in the speculation section, the downtrend is breaking as we speak!
and also, the smartest thing to do is buy Doge, best alt coin- low risk and VERY high reward, it should be at least 10x higher than it today, relative to bitcoin, based on the size and quality of the community!

HairyMaclairy
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March 03, 2014, 06:51:06 AM
 #3

That advice is doge advice.
Sindelar1938
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March 03, 2014, 06:55:48 AM
 #4

Don't do it, in the long run (big if but that's what you signed up for), a $705 entry will feel cheap

Just no way to game this beast reliably and as you admit you are a newbie

If you have some extra cash, try to cost average down if you can

theonewhowaskazu
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March 03, 2014, 06:58:56 AM
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I wouldn't do it.

My personal view: Watch one bubble the WHOLE WAY THROUGH before you try and get cute. Having some BTC in the game will keep your eyes glued to the chart like nothing else. Then, next bubble, when you've had your eyes glued through one round and done your share of shitting bricks, you'll be a LOT better prepared and will be able to stomach this shit loads better.

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March 03, 2014, 07:00:44 AM
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Don't do it, in the long run (big if but that's what you signed up for), a $705 entry will feel cheap

Just no way to game this beast reliably and as you admit you are a newbie

If you have some extra cash, try to cost average down if you can

This. Dollar cost average if you are concerned about your buy in price or just sit tight. You need to ask yourself why you bought 33 BTC in the first place. If you did because you believe in the long term viability and growth of bitcoin, don't sell now.
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March 03, 2014, 07:48:24 AM
 #7

Welcome,

You need to make a decision, do you want to have more fiat value or you want more Crypto.


NOW LETS PLAY THE GAME.
You Initial Invest:
           $24,675.00

Sell your 35 BTC at around 575.xx , that should net you $20,125.00, your total lost was $4550.00.


Place you Buy order at for 15 BTC at 548.xx, that should cost you around $8220.00.

  >>> Place a Sell order at for 15 BTC at 569.xx, and you just made $315 profit

Place another Buy order at a much lower price, lets say 10 BTC at 525.xx,

And so on.  Always have % of FIAT in Hand. (if you see the market moving lower, cancel your Buy Orders and put them in lower price | Also if its going up change your sell orders}



Also very important, try to stay above the news, Negative news will cause a panic sale. Positive News will cause a Panic Buy.

( What I do for the news, I go to Google, click News and search Bitcoin )


By playing the game, you should recover your 4.5k looses you had.


Also I personally don't think we are going up, I think we will be around 450-550 for a while. UNLESS we get great, VERY great news.


But at this moment I don't see nothing, we are going Pre November 2013


THIS GAME IS DANGEROUS IS NOT FOR EVERYBODY. Feel free to PM, ill help you out.


Use an Exchange that has low trading fee's, I my self use BTC-e.com for my trading game (NEVER KEEP ALL YOUR EGGS IN THE SAME BASKET)

Google News URL:
https://www.google.com/#q=bitcoin&tbm=nws

Android App, Has every market, updates every 5secs, and Has an Alarm OPTION in which you could configure it as you wish.
https://play.google.com/store/apps/details?id=com.mobnetic.coinguardian&hl=en

BTC-e, their fee's are 0.02%, I never had a problem depositing or withdrawing. (look me up at the troolbox, same handle)
https://btc-e.com/

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March 03, 2014, 08:22:18 AM
 #8

So I have like 33 BTC and have a buy average of 705 USD as I got in the game late. Is it smart to just sell at a loss now in hopes the price will go down to the $400 to $500 range where I can get more btc for the price even though I will be still at a loss until like $650. I know a lot of you will be saying I should have sold earlier but I am a newbie and just kept hodling.

No definitely dont!!
see my previous threads I made earlier today in the speculation section, the downtrend is breaking as we speak!
and also, the smartest thing to do is buy Doge, best alt coin- low risk and VERY high reward, it should be at least 10x higher than it today, relative to bitcoin, based on the size and quality of the community!

horrible advice , buy dogecoin hahaha

buy Litecoin and bitcoin.

Bitcoin and Litecoin hodler
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March 03, 2014, 08:49:24 AM
 #9

So I have like 33 BTC and have a buy average of 705 USD as I got in the game late. Is it smart to just sell at a loss now in hopes the price will go down to the $400 to $500 range where I can get more btc for the price even though I will be still at a loss until like $650. I know a lot of you will be saying I should have sold earlier but I am a newbie and just kept hodling.

Don't: https://www.tradingview.com/x/WaXEhtYl/

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CrashX
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March 03, 2014, 09:01:18 AM
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March 03, 2014, 09:03:16 AM
 #11

anyone could guess that an asset which increases at a rate of 8000% pa can easily crash by 75%..... you must mentally prepare yourself for rough times. low expectations. dont trade every swing.

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March 03, 2014, 09:12:35 AM
 #12

Also something that I forgot to mention, this does fit a bubble.

And as always,  Don't let me or others users make a decision for you, its your money.

Bubble Pattern

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March 03, 2014, 09:43:06 AM
 #13

Why take the risk? buy low sell high. wait a year. Getting worried/greedy during bitcoin's insane volatility is a dangerous game IMO.

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March 03, 2014, 09:49:56 AM
 #14

No it's a bad decision and you will regret it dearly in 6 months from now. It looks like the downtrend is about to get broken or already breaking, so it's really not a good time to sell at a loss right now. But your own choice man, don't let us take it for you.

Bitcoin = Gold on steroids
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March 03, 2014, 09:56:00 AM
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If you have nerves of steel, patience and a willing to lose your mind you can try riding the bitcoin wave. But its no picnic. You have been warned.
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March 03, 2014, 09:13:21 PM
 #16

So I have like 33 BTC and have a buy average of 705 USD as I got in the game late. Is it smart to just sell at a loss now in hopes the price will go down to the $400 to $500 range where I can get more btc for the price even though I will be still at a loss until like $650. I know a lot of you will be saying I should have sold earlier but I am a newbie and just kept hodling.

No definitely dont!!
see my previous threads I made earlier today in the speculation section, the downtrend is breaking as we speak!
and also, the smartest thing to do is buy Doge, best alt coin- low risk and VERY high reward, it should be at least 10x higher than it today, relative to bitcoin, based on the size and quality of the community!

I hope you followed my advice in post #2 and saw my previous threads I made earlier as I mentioned to you
https://bitcointalk.org/index.php?topic=497803.0


and I would still stay put, once the next downtrend gets broken, the path is open to the heavens

lemfuture
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March 03, 2014, 09:14:46 PM
 #17

dont sell for loss. hold or buy shares from services that accept BTC

1ADLcfwTofFXb95pKhebpeRkJ4WTWsvQXB
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March 03, 2014, 09:24:40 PM
 #18

So I have like 33 BTC and have a buy average of 705 USD as I got in the game late. Is it smart to just sell at a loss now in hopes the price will go down to the $400 to $500 range where I can get more btc for the price even though I will be still at a loss until like $650. I know a lot of you will be saying I should have sold earlier but I am a newbie and just kept hodling.


it already hit 710 today at stamp. keep your btc, don´t start day-trading now. the bear market is over, put the btc in cold wallet, wait some months and see it´s value rise week by week. it may feel bad to have temporarily "lost" some $. but i can tell you from experience: it feels much worse to day trade and end up losing coins. you do not only feel the pain of the actual loss, but in addition this hounting bad feeling about the potential future losses, since the coins you lost will keep rising in value...

do not start trading now. and forget this altcoin sheit.
rebel24
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March 03, 2014, 09:45:55 PM
 #19

So I have like 33 BTC and have a buy average of 705 USD as I got in the game late. Is it smart to just sell at a loss now in hopes the price will go down to the $400 to $500 range where I can get more btc for the price even though I will be still at a loss until like $650. I know a lot of you will be saying I should have sold earlier but I am a newbie and just kept hodling.


it already hit 710 today at stamp. keep your btc, don´t start day-trading now. the bear market is over, put the btc in cold wallet, wait some months and see it´s value rise week by week. it may feel bad to have temporarily "lost" some $. but i can tell you from experience: it feels much worse to day trade and end up losing coins. you do not only feel the pain of the actual loss, but in addition this hounting bad feeling about the potential future losses, since the coins you lost will keep rising in value...

do not start trading now. and forget this altcoin sheit.

sorry your late to the party, his question was posted yesterday when the price was $560-570.
also, you seem to be new, or a novice trader. alt coins are the FUTURE. especially dogecoin. (I've spent many, many hours and analyzed virtually every other major coin, and went through about 200 of the top altcoins, dogecoin is the lowest risk, VERY VERY high potential, it has strong technical and fundamental support). Theres a big difference between 5x your money and 50x your money, but hey, you can't teach an old dog new tricks- unless he really wants to learn

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March 03, 2014, 10:12:10 PM
 #20

Oh would you fuck off you and your dogecoin?

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