I still don't understand how people buying will drive the price down.
It's not the buying that will drive the price down, but the lack of buying.
"No reserve" means that people on bitcoinica:
-can't buy more
This means that the price can't really go up until people get more money from their bank accounts.
Or the 1.1 million dollars sitting on the bid side of the order book get tired of waiting for cheaper prices.
Sorry, I didn't mean to pull myself's arguments into this... I'm tired and I didn't look carefully and thought I was still talking to him. He made the claim that people buying will drive the price down in one of his other threads.
Quit trying to manipulate it with scare tactics.
I had a 10:1 long position then I got liquidated. I couldn't understand why people were selling when the market looked so bullish.
I lost everything. I wanted to figure out why it happened. I believe I did, so I wanted to share.
People were selling because you and others were overleveraged and when this occurs it is public information. That doesn't not translate into a cascade of liquidations unless there is no support, or you manage to pull off a panic. We might see a couple of those before people figure out what's going on, so you might have an actionable strategy short term, but after a few times of washing out the excessively leveraged, people will learn to be more reasonable.