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[proudhon]

Look at you two in the black already! Good timing.  

whether he admits it or not, Proudhon was born to be long.

He was long back in April... he's simply coming back to the good side.

Proudhon, welcome back.

I guess this is as good a time as ever to admit that I went all in back at $2.4 but have had my finger very nervously over the sell button ever since.

[1713913889]

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[1713913889]

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[ineededausername]

Look at you two in the black already! Good timing.  

whether he admits it or not, Proudhon was born to be long.

He was long back in April... he's simply coming back to the good side.

Proudhon, welcome back.

I guess this is as good a time as ever to admit that I went all in back at $2.4 but have had my finger very nervously over the sell button ever since.

Ha! You were trolling us all along!
You were simply a bear so that you could buy more, weren't you? One of the many fake bears on this forum, I guess.

[Crypt_Current]

Look at you two in the black already! Good timing.  

whether he admits it or not, Proudhon was born to be long.

He was long back in April... he's simply coming back to the good side.

Proudhon, welcome back.

I guess this is as good a time as ever to admit that I went all in back at $2.4 but have had my finger very nervously over the sell button ever since.

Nice play, if it's true.
And now I know you don't really need any help after all.  :-)

[proudhon]

Look at you two in the black already! Good timing.  

whether he admits it or not, Proudhon was born to be long.

He was long back in April... he's simply coming back to the good side.

Proudhon, welcome back.

I guess this is as good a time as ever to admit that I went all in back at $2.4 but have had my finger very nervously over the sell button ever since.

Ha! You were trolling us all along!
You were simply a bear so that you could buy more, weren't you? One of the many fake bears on this forum, I guess.

Well, no, I really was...er...am bearish, I think.  At least, long term I don't think these spikes are sustainable.  But I had a bunch of money sitting in MtGox not doing anything and I just decided sort of on a whim that I'd buy back in.  I actually sold a few times on the way up because I was convinced it was all going to come crashing back down, but so far I've only managed to lose bitcoin.  My bearishness is getting shaken up pretty good, as much as I try to resist it.

[proudhon]

Look at you two in the black already! Good timing.  

whether he admits it or not, Proudhon was born to be long.

He was long back in April... he's simply coming back to the good side.

Proudhon, welcome back.

I guess this is as good a time as ever to admit that I went all in back at $2.4 but have had my finger very nervously over the sell button ever since.

Nice play, if it's true.
And now I know you don't really need any help after all.  :-)

Well, buying and selling on MtGox is as easy as it can be.  You don't need to know much at all about market stuff to do that.  This bitcoinica stuff is an entirely different animal, I think.

[ineededausername]

Look at you two in the black already! Good timing.  

whether he admits it or not, Proudhon was born to be long.

He was long back in April... he's simply coming back to the good side.

Proudhon, welcome back.

I guess this is as good a time as ever to admit that I went all in back at $2.4 but have had my finger very nervously over the sell button ever since.

Ha! You were trolling us all along!
You were simply a bear so that you could buy more, weren't you? One of the many fake bears on this forum, I guess.

Well, no, I really was...er...am bearish, I think.  At least, long term I don't think these spikes are sustainable.  But I had a bunch of money sitting in MtGox not doing anything and I just decided sort of on a whim that I'd buy back in.  I actually sold a few times on the way up because I was convinced it was all going to come crashing back down, but so far I've only managed to lose bitcoin.  My bearishness is getting shaken up pretty good, as much as I try to resist it.

Admit it, you're a bull... what kind of bear goes long!?  A fake one.

[proudhon]

Look at you two in the black already! Good timing.  

whether he admits it or not, Proudhon was born to be long.

He was long back in April... he's simply coming back to the good side.

Proudhon, welcome back.

I guess this is as good a time as ever to admit that I went all in back at $2.4 but have had my finger very nervously over the sell button ever since.

Ha! You were trolling us all along!
You were simply a bear so that you could buy more, weren't you? One of the many fake bears on this forum, I guess.

Well, no, I really was...er...am bearish, I think.  At least, long term I don't think these spikes are sustainable.  But I had a bunch of money sitting in MtGox not doing anything and I just decided sort of on a whim that I'd buy back in.  I actually sold a few times on the way up because I was convinced it was all going to come crashing back down, but so far I've only managed to lose bitcoin.  My bearishness is getting shaken up pretty good, as much as I try to resist it.

Admit it, you're a bull... what kind of bear goes long!?  A fake one.

The bitcoinica thing is just an experiment so I can figure out how it works.

[Crypt_Current]

Right on -- I think I understand Proudhon's "mystification" about leverage better now :-)

Let me put it another way now:  It's a tool for poor people to make money faster.

I'm (was) shit poor.  If bitcoinica doesn't take my money, alcohol and drugs will.  Sad but true.

[StewartJ]

This was instructive, thanks for publicly displaying a bit of this Bitcoinica stuff.  Always been curious.  Not my style of trading I guess.

 I just like the easier buy low, sell high, take some profit, and repeat approach on Mt Gox.

[Crypt_Current]

i need to go to sleep and i did close the deal so i get something to show you
profit:0.9151
capital: 8*6.2927=50.34USD
1.811% rate
time spent just look at OP and this post

You may be kicking yourself when you wake up.   

[proudhon]

Liquidate?   

[Crypt_Current]

Liquidate?   

Not a wise move at this point, IMO.  If you have a low enough base price anyway.

[proudhon]

[Otoh]

 No, no, no - seriously hold to at least 2017 (edit: like I should have done with my leveraged well in profit longs today ) & when you have nice unrealized profits along the way then just add to your long position by buying more with them whenever there's a 10% to 25% spike down at least with this first 1 Btc account, you'll also have a very sellable newsworthy story by then too, start another bitcoinica account to practice how easy it is to lose money fast trading on margin if you like, remember your entry level was the $2.50 or less that you paid for this bit under 3 months ago, like what - a cup of coffee - let it roll  

[Crypt_Current]

DEFINITELY hold dude.  Price would have to drop below $1.95 for you to be force liquidated.

[randomguy7]

DEFINITELY hold dude.  Price would have to drop below $1.95 for you to be force liquidated.

Nope he would be forced liquidated long before $1.95. His margin at $1.95 - (6.3078-1.95) = -2.40 net value (which must stay above $1.01). Correct me if I'm wrong.

Edit: forced liquidation should occur at $3.6589. hm something is wrong here...

[Crypt_Current]

DEFINITELY hold dude.  Price would have to drop below $1.95 for you to be force liquidated.

Nope he would be forced liquidated long before $1.95. His margin at $1.95 - (6.3078-1.95) = -2.40 net value (which must stay above $1.01). Correct me if I'm wrong.

At 5x leverage, forced liquidation occurs when net value falls below 2x maintenance.
2x maint here = $2.02
Net V = 9.78
Net V = 2x maint = 7.76
7.76 / total btc in position (absolute value) = 7.76 / 4 = 1.95
I'm sorry; I was mistaken -- The price of BTC would have to drop to base price minus 1.95.  Which is still pretty darn low.
EDIT:
Someone correct me if this is an incorrect calculation.
If it's correct, basically then if you think the price of BTC will drop below 6.31 - 1.95 = 4.36, heh, yeah go ahead and liquidate.

[proudhon]

Thanks for the explanations.  This is fascinating.

[teflone]

More faith needed..

[cypherdoc]

Thanks for the explanations.  This is fascinating.

its called the opportunity of a lifetime.