Bitcoin Forum
December 06, 2016, 08:04:32 PM *
News: To be able to use the next phase of the beta forum software, please ensure that your email address is correct/functional.
 
   Home   Help Search Donate Login Register  
Pages: [1] 2 3 »  All
  Print  
Author Topic: I pussied out  (Read 3632 times)
RandyMarsh
Full Member
***
Offline Offline

Activity: 237



View Profile
January 05, 2012, 05:16:18 AM
 #1

Got scared and sold at 5.8ish, have I made a mistake? in any case I've profited for the day, and I need to sleep now (If possible I never sleep with BTC in my pocket, I could wake up with dirt for money)

Long time since i've seen 5am sober. zzzzzz

Stan?! STAN?!?!
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1481054672
Hero Member
*
Offline Offline

Posts: 1481054672

View Profile Personal Message (Offline)

Ignore
1481054672
Reply with quote  #2

1481054672
Report to moderator
1481054672
Hero Member
*
Offline Offline

Posts: 1481054672

View Profile Personal Message (Offline)

Ignore
1481054672
Reply with quote  #2

1481054672
Report to moderator
gewure
Sr. Member
****
Offline Offline

Activity: 364


[#][#][#]


View Profile
January 05, 2012, 05:20:45 AM
 #2

maybe take a look at this http://en.wikipedia.org/wiki/Order_%28exchange%29#Stop_orders
..might give you a more silent and chilled sleep Wink

Serge
Legendary
*
Offline Offline

Activity: 1050


View Profile
January 05, 2012, 05:22:31 AM
 #3

thank you and whoever else keeps the btc rate down, it's nice to see the price going up but rapid growth is not ideal, would be great to stay around 5.8-6.2 for things to settle before moving on.. if it goes even lower - great too
SaintFlow
Sr. Member
****
Offline Offline

Activity: 415


for the love of water


View Profile
January 05, 2012, 05:27:28 AM
 #4

I for one welcome our new early adopters.

And dumpy the short gain bear actually us a great service.

Past 6 will happen soon - not however without my fiat.

account resurrected
the lurking ends
RyNinDaCleM
Legendary
*
Offline Offline

Activity: 1988


Legen -wait for it- dary


View Profile
January 05, 2012, 05:29:45 AM
 #5

Hey! I sold, albeit much higher than 5.80. Then I bought back at 5.73 once I knew it wasn't going to blow through the 5.72 resistance.

phorensic
Hero Member
*****
Offline Offline

Activity: 630



View Profile
January 05, 2012, 05:29:59 AM
 #6

I took profit at 5.90, watched it climb to 6.36 while I drove home and smacked my forehead.  Then I realized I could set myself up for the next rally and I have been buying on Bitcoinica the whole time it's been "correcting" below 6.00 right now.  Still money to be made my friend.
kwukduck
Legendary
*
Offline Offline

Activity: 1564


View Profile
January 05, 2012, 05:30:34 AM
 #7

Meh you didn't make a mistake, you helped me greatly, thanks for the cheap bitcoins!

14b8PdeWLqK3yi3PrNHMmCvSmvDEKEBh3E
SaintFlow
Sr. Member
****
Offline Offline

Activity: 415


for the love of water


View Profile
January 05, 2012, 05:30:57 AM
 #8

Hey! I sold, albeit much higher than 5.80. Then I bought back at 5.73 once I knew it wasn't going to blow through the 5.72 resistance.

100 percent envy you

this is what i get for sleeping 5 minutes longer this morning

account resurrected
the lurking ends
old_engineer
Sr. Member
****
Offline Offline

Activity: 387


View Profile
January 05, 2012, 05:31:58 AM
 #9

Not everyone can be long all the time.  Today ranged from $4.78 to $6.36, and a $5.8 sell out is still a $1/btc gain on the day.
old_engineer
Sr. Member
****
Offline Offline

Activity: 387


View Profile
January 05, 2012, 05:33:35 AM
 #10

Hey! I sold, albeit much higher than 5.80. Then I bought back at 5.73 once I knew it wasn't going to blow through the 5.72 resistance.
Ha!  Sounds like it was you and I (and perhaps others?) jockeying for position to catch those falling bitcoinica coins at 5.723, 5.724, 5.725, etc.  Better than playing any board game... Smiley
Cluster2k
Legendary
*
Offline Offline

Activity: 1512


View Profile
January 05, 2012, 05:39:32 AM
 #11

Got scared and sold at 5.8ish, have I made a mistake? in any case I've profited for the day, and I need to sleep now (If possible I never sleep with BTC in my pocket, I could wake up with dirt for money)

Nothing wrong with pussying out.  If you never sell then you never really have a profit.  The real world in which we live still revolves around government issued currencies.  Need to take profits at some stage.

Do not send bitcoins to me: 16b8s7pBJ9rUmsExNW25qD5VUqVqRPZuXu
100% solar powered bitcoin generation
Sitarow
Legendary
*
Offline Offline

Activity: 1624



View Profile
January 05, 2012, 05:43:13 AM
 #12

Hey! I sold, albeit much higher than 5.80. Then I bought back at 5.73 once I knew it wasn't going to blow through the 5.72 resistance.
Ha!  Sounds like it was you and I (and perhaps others?) jockeying for position to catch those falling bitcoinica coins at 5.723, 5.724, 5.725, etc.  Better than playing any board game... Smiley


I will admit I added more to my reserves at 5.72001 5.73001 and even 5.8001 Smiley
tvbcof
Legendary
*
Offline Offline

Activity: 1988


View Profile
January 05, 2012, 05:46:57 AM
 #13

Got scared and sold at 5.8ish, have I made a mistake? in any case I've profited for the day, and I need to sleep now (If possible I never sleep with BTC in my pocket, I could wake up with dirt for money)


Funny...back before I took my fill of BTC I used to feel the same way only opposite.  I often made a BTC purchase before going to bed because I didn't want to go to sleep with USD in my pocket.  But for similar reasons insofar as not wanting to wake up with dirt for money.  I probably spend to much time reading zerohedge.com

Now I've got a nice enough pile of BTC in deep deep storage and am past break-even at $6 and am sleeping well.

If BTC continues to rise to the value that I've always felt like it should have on the world stage, I wonder how many would-be early adopters will end up being caught out, or much more out than they could have been.  The only reason I can imagine how badly that would suck is because I got busy with other things when I first took an abortive interest in Bitcoin in late 2010.


phorensic
Hero Member
*****
Offline Offline

Activity: 630



View Profile
January 05, 2012, 05:47:04 AM
 #14

The truth is you didn't pussy out, you took profit.  This is the sign of a smart trader.  What if the price crashed to $1.00 while you were taking a piss or sleeping and you didn't have a stop-loss order set?
RyNinDaCleM
Legendary
*
Offline Offline

Activity: 1988


Legen -wait for it- dary


View Profile
January 05, 2012, 05:47:18 AM
 #15

Not everyone can be long all the time.  Today ranged from $4.78 to $6.36, and a $5.8 sell out is still a $1/btc gain on the day.


This is what matters!  Wink

Hey! I sold, albeit much higher than 5.80. Then I bought back at 5.73 once I knew it wasn't going to blow through the 5.72 resistance.
Ha!  Sounds like it was you and I (and perhaps others?) jockeying for position to catch those falling bitcoinica coins at 5.723, 5.724, 5.725, etc.  Better than playing any board game... Smiley


I was sitting here with my finger on the trigger. waiting to see where it would stop. There were a bunch of orders put in at 5.725-5.75. They were getting eaten up so fast, I was unsure about placing mine, but said "eff it", and went ahead anyway.
Aaannd, just sold at 6.08. oops! (I got carried away with typing)
Oh well! Back below $6 now.

miscreanity
Legendary
*
Offline Offline

Activity: 1078


View Profile
January 05, 2012, 05:48:15 AM
 #16

If you never sell then you never really have a profit.

Yup.

A good practice is to scale in and scale out. For example: I closed 10% of my open positions today. On any significant declines, I'll probably add that back because my analysis suggests there's still room to rise. If I don't get the opportunity, I'll just continue to ride up with the other 90% of my holdings.

Trading is counterintuitive to your emotions. Learn to love the sinking pit in your gut when things don't move your way (then buy) and grow wary of the elated sensation upon doubling, tripling or hitting a 10-bagger (and sell).

If you keep at it, you'll develop your own trading style - short vs. long term, momentum chasing, etc. In general, you just have to heed and control your emotions.

Best!
Sitarow
Legendary
*
Offline Offline

Activity: 1624



View Profile
January 05, 2012, 05:51:19 AM
 #17

If you never sell then you never really have a profit.

Yup.

A good practice is to scale in and scale out. For example: I closed 10% of my open positions today. On any significant declines, I'll probably add that back because my analysis suggests there's still room to rise. If I don't get the opportunity, I'll just continue to ride up with the other 90% of my holdings.

Trading is counterintuitive to your emotions. Learn to love the sinking pit in your gut when things don't move your way (then buy) and grow wary of the elated sensation upon doubling, tripling or hitting a 10-bagger (and sell).

If you keep at it, you'll develop your own trading style - short vs. long term, momentum chasing, etc. In general, you just have to heed and control your emotions.

Best!

Well said.
RyNinDaCleM
Legendary
*
Offline Offline

Activity: 1988


Legen -wait for it- dary


View Profile
January 05, 2012, 05:56:28 AM
 #18

If you never sell then you never really have a profit.

Yup.

A good practice is to scale in and scale out. For example: I closed 10% of my open positions today. On any significant declines, I'll probably add that back because my analysis suggests there's still room to rise. If I don't get the opportunity, I'll just continue to ride up with the other 90% of my holdings.

Trading is counterintuitive to your emotions. Learn to love the sinking pit in your gut when things don't move your way (then buy) and grow wary of the elated sensation upon doubling, tripling or hitting a 10-bagger (and sell).

If you keep at it, you'll develop your own trading style - short vs. long term, momentum chasing, etc. In general, you just have to heed and control your emotions.

Best!

I usually tend to place orders on both sides, so it's always win win!  Grin

zby
Legendary
*
Offline Offline

Activity: 1431


View Profile
January 05, 2012, 05:57:14 AM
 #19

Got scared and sold at 5.8ish, have I made a mistake? in any case I've profited for the day, and I need to sleep now (If possible I never sleep with BTC in my pocket, I could wake up with dirt for money)

Long time since i've seen 5am sober. zzzzzz

Have you been around in the spring last year - or did you start with bitcoin in the autumn?
kjlimo
Legendary
*
Offline Offline

Activity: 1498


View Profile WWW
January 05, 2012, 06:49:47 AM
 #20

thank you and whoever else keeps the btc rate down, it's nice to see the price going up but rapid growth is not ideal, would be great to stay around 5.8-6.2 for things to settle before moving on.. if it goes even lower - great too

This sounds like someone like me, who still has stop orders in at $2, $3, and now $4 and $5.  I feel reasonably confident that it will dip again over the next 12 months, but when? who knows.  Until then, just try to keep jumping in and out at $5 and $6.

CampBX for buying BTCs, Coinbase for selling BTCs or Vircurex or Cryptsy for trading alternate cryptocurrencies like DOGEs

PM me with any questions on these sites!  Happy to help!

Bitcoin Poker at Seals                  Strike Sapphire Casino  Free games every hour & day!
  Get Free Bitcoins here.

Spondoolies-Tech or KnC Miner for the fastest mining hardware available!

Bitpay to help your business accept bitcoin payments!
Pages: [1] 2 3 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!