zby
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December 07, 2018, 07:40:16 AM |
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Better question would be how much have you shorted above 4K?
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qualitywork
Member
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Activity: 266
Merit: 12
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December 07, 2018, 09:56:40 AM |
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I think you had to wait, there will be better opportunities. The best time for buying is when there are signs of recovering and when prices start rising. You should also buy some altcoins  I agree but do you think the value will fall continuous like now? There is no signs of recovery and the downfall is In progress now. I'd prefer to buy tokens now as you can buy it for very cheap prices. If the market starts pumping we can expect good profit. |
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sjefdeklerk
Jr. Member
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Activity: 154
Merit: 8
SODL
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December 07, 2018, 04:23:01 PM |
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Better question would be how much have you shorted above 4K?
I'm 18 BTC short at $6600 |
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Richard Branson
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December 07, 2018, 04:55:41 PM |
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Better question would be how much have you shorted above 4K?
I'm 18 BTC short at $6600 And you bought them >16000$ ? Good job @ buying high and selling low. |
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gabmen
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December 07, 2018, 04:59:11 PM |
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Better question would be how much have you shorted above 4K?
I'm 18 BTC short at $6600 Lol. Sadly, i haven't shorted any of my coins, both btc and ether 🤑 it's not a good feeling to see your capital dwindle down this quick but i've gotten this far already so i'm going long with everything. It's do or die for me 😅 |
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thecodebear (OP)
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December 07, 2018, 05:26:19 PM |
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Yeah i don't bother shorting. Buy low sell high. I'm up to almost 1.5 BTC well under $4000 avg price the past few weeks. Very happy!
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XinXan
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December 07, 2018, 08:55:22 PM |
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Nothing. What's the point of randomly buying because it's under $4000? I will buy when it shows signs of recovery, otherwise it's just a gamble. Bitcoin attempted to bounce recently, we clearly rejected from the exponential moving averages and we were unable to create higher highs, right now bitcoin is still really bearish, definitely looks like we will break the last low $3652. If we don't it can be a good opportunity to buy but only if the bulls show enough strength.
Interesting. Now sure why you view buying when its low as "random". The crash is now on par with previous crashes, so we are very likely right in range of the bottom of this cycle. Instead of waiting until it starts going up showing evidence of the next boom, at which point you missed the bottom, I'd rather buy at a fantastic price (what i think is highly likely the bottom range). it all depends on one's mindset around risk. many people felt the same way about the $6000-$7000 area---that it was the "bottom range"---but here we are trading in the $3000s now. those who were patiently waiting for signs of recovery before buying in now can afford much more coins. there's also the psychological aspect. for most people, holding through a bear market is painful and difficult. it's much easier on the emotions to buy into a bull market, even if it means missing the bottom. Unless of course you still don't buy in as you are saying. If you wait for clear signs of a bull market and not just a trap then you'll be buying in probably back at the $6k-$7k level anyways. I absolutely thought $6000s was the bottom, but I didn't plan on buying in, I was waiting until I get a lot of money in January, but when the price dropped 40% from what I thought was the bottom thats a crazy good deal, so yeah I'm loading up as much as I can right now. To each their own, but at these prices I don't know why anyone would wait to buy. At the very least I think the best path this next half year is to steadily buy, so you cost average the bottom. I'm buying as much as I can right now just in case $3000s doesn't last long, but I'll have a lot more money to throw at Bitcoin by late January, if the price is even lower then that's incredible, if it's the same then that's amazing, if it's higher then I'll be glad I picked up as much as I could under $4k now to bring down my average cost a little bit. Everyone with money on the side should be buying now or at least starting to buy now and continuing to buy in the months to come before the price starts going back up (whenever that is - I'm guessing it'll be by mid-2019) and we see signs of the next bull market. I was thinking about holding back a good amount of money now in case it dips again to $3000 or even under, but then I realized we're already equal to previous crashes now, so I'd feel very stupid later on if I watched the price sit at over 80% off the peak and didn't buying in because I was extra greedy and thought it might dip a few percent lower, whereas I will feel great buying in at this price and missing the absolute bottom by a little bit. Just like you don't want to catch a falling knife, you also don't want to try to perfectly time the bottom cuz you're almost guaranteed to miss it. Dollar cost averaging the bottom is the way to go. The money I have now is only about 10% of the money I'll be putting in since most of my money will come to me in January, so right now its all about making sure, no matter if the price is up or down in a couple months, that I get in a decent amount of buying under $4k. If you are going for a long term trade, buying now is random. The ''clear'' signal to buy would be when the daily trend changes, 1 month of lower highs now on the daily chart and 1 year of lower highs on the weekly chart. It's true that if you wait for signals you are not going to buy at the bottom and your entry wont be as good but you are just playing with way too much risk if you buy now. Clearly bitcoin is in a huge downtrend and there are no signals whatsoever of recovery. You would buy at around 4400$ now, it is 1k dollars higher than the current price but it's the only ''safe'' way of doing it. |
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exstasie
Legendary
Offline
Activity: 1806
Merit: 1521
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December 07, 2018, 09:29:25 PM |
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If you are going for a long term trade, buying now is random. The ''clear'' signal to buy would be when the daily trend changes, 1 month of lower highs now on the daily chart and 1 year of lower highs on the weekly chart. It's true that if you wait for signals you are not going to buy at the bottom and your entry wont be as good but you are just playing with way too much risk if you buy now. Clearly bitcoin is in a huge downtrend and there are no signals whatsoever of recovery. You would buy at around 4400$ now, it is 1k dollars higher than the current price but it's the only ''safe'' way of doing it.
Risk-wise, there's really no discussion to be had because most people are concerned first and foremost about protecting their capital. Like many coiners, I think thecodebear is more concerned about maximizing coins than protecting fiat value. It's not a conventional investment strategy but it's not uncommon around these parts. I used to buy into crashes years ago. It's too stressful and risk-laden. These days, I usually wait for support to come in and buy once I see signs of reversal. |
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thecodebear (OP)
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December 07, 2018, 09:37:40 PM
Last edit: December 07, 2018, 09:57:07 PM by thecodebear |
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Nothing. What's the point of randomly buying because it's under $4000? I will buy when it shows signs of recovery, otherwise it's just a gamble. Bitcoin attempted to bounce recently, we clearly rejected from the exponential moving averages and we were unable to create higher highs, right now bitcoin is still really bearish, definitely looks like we will break the last low $3652. If we don't it can be a good opportunity to buy but only if the bulls show enough strength.
Interesting. Now sure why you view buying when its low as "random". The crash is now on par with previous crashes, so we are very likely right in range of the bottom of this cycle. Instead of waiting until it starts going up showing evidence of the next boom, at which point you missed the bottom, I'd rather buy at a fantastic price (what i think is highly likely the bottom range). it all depends on one's mindset around risk. many people felt the same way about the $6000-$7000 area---that it was the "bottom range"---but here we are trading in the $3000s now. those who were patiently waiting for signs of recovery before buying in now can afford much more coins. there's also the psychological aspect. for most people, holding through a bear market is painful and difficult. it's much easier on the emotions to buy into a bull market, even if it means missing the bottom. Unless of course you still don't buy in as you are saying. If you wait for clear signs of a bull market and not just a trap then you'll be buying in probably back at the $6k-$7k level anyways. I absolutely thought $6000s was the bottom, but I didn't plan on buying in, I was waiting until I get a lot of money in January, but when the price dropped 40% from what I thought was the bottom thats a crazy good deal, so yeah I'm loading up as much as I can right now. To each their own, but at these prices I don't know why anyone would wait to buy. At the very least I think the best path this next half year is to steadily buy, so you cost average the bottom. I'm buying as much as I can right now just in case $3000s doesn't last long, but I'll have a lot more money to throw at Bitcoin by late January, if the price is even lower then that's incredible, if it's the same then that's amazing, if it's higher then I'll be glad I picked up as much as I could under $4k now to bring down my average cost a little bit. Everyone with money on the side should be buying now or at least starting to buy now and continuing to buy in the months to come before the price starts going back up (whenever that is - I'm guessing it'll be by mid-2019) and we see signs of the next bull market. I was thinking about holding back a good amount of money now in case it dips again to $3000 or even under, but then I realized we're already equal to previous crashes now, so I'd feel very stupid later on if I watched the price sit at over 80% off the peak and didn't buying in because I was extra greedy and thought it might dip a few percent lower, whereas I will feel great buying in at this price and missing the absolute bottom by a little bit. Just like you don't want to catch a falling knife, you also don't want to try to perfectly time the bottom cuz you're almost guaranteed to miss it. Dollar cost averaging the bottom is the way to go. The money I have now is only about 10% of the money I'll be putting in since most of my money will come to me in January, so right now its all about making sure, no matter if the price is up or down in a couple months, that I get in a decent amount of buying under $4k. If you are going for a long term trade, buying now is random. The ''clear'' signal to buy would be when the daily trend changes, 1 month of lower highs now on the daily chart and 1 year of lower highs on the weekly chart. It's true that if you wait for signals you are not going to buy at the bottom and your entry wont be as good but you are just playing with way too much risk if you buy now. Clearly bitcoin is in a huge downtrend and there are no signals whatsoever of recovery. You would buy at around 4400$ now, it is 1k dollars higher than the current price but it's the only ''safe'' way of doing it. Buying low is never random. Sure I'll have to hold my coins for longer than if I bought for a likely higher price once the market clearly started going up again, but I also likely get a better deal. I'd rather make sure I get a great deal than risk being too greedy always thinking it will go lower and then by the time I realize its not going lower anymore the price has rebounded a lot and I have to buy in higher. |
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thecodebear (OP)
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December 07, 2018, 09:56:20 PM |
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If you are going for a long term trade, buying now is random. The ''clear'' signal to buy would be when the daily trend changes, 1 month of lower highs now on the daily chart and 1 year of lower highs on the weekly chart. It's true that if you wait for signals you are not going to buy at the bottom and your entry wont be as good but you are just playing with way too much risk if you buy now. Clearly bitcoin is in a huge downtrend and there are no signals whatsoever of recovery. You would buy at around 4400$ now, it is 1k dollars higher than the current price but it's the only ''safe'' way of doing it.
Risk-wise, there's really no discussion to be had because most people are concerned first and foremost about protecting their capital. Like many coiners, I think thecodebear is more concerned about maximizing coins than protecting fiat value. It's not a conventional investment strategy but it's not uncommon around these parts. I used to buy into crashes years ago. It's too stressful and risk-laden. These days, I usually wait for support to come in and buy once I see signs of reversal. I'm trying to maximize coins yes obviously, thats what everyone is trying to do. The more coins you have the more profit you make. I consider it too risky to wait until the bull market has clearly started, because that means you entirely missed the bottom. Meanwhile I'll be buying the whole bottom starting now and over the coming months. You don't know what the bottom is for sure until it is long gone, I'd rather cost average the bottom over a period of time and get in at a lower price than wait a few months after the bottom is gone when everyone is sure the bull market has started to start buying in at a higher price. What I'm doing would only be risky (from my point of view) if I thought Bitcoin might now recover. In that case sure getting a worse (higher) price later on after the bull market is back would make more sense than getting a better buy in earlier on in case it just keeps going down and there is never a good place to buy in. But I have zero doubts about Bitcoin far surpassing the last bull run (because I've been around Bitcoin for more than just the last bull run), as it does on every successive bull run, so what I'm doing is try to get the best deal possible, which means cost averaging out the bottom. |
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