is everybody ok?

[legitnick]

No, I am not again I lost again sooo much...  
Seem to me that it is not my year: lost my clients, lost much money, lost my ferret, lost my grandpa and now my bitcoins...

I feel bad when reading this.

Did nobody tell you what kind of game speculation is? If you want to keep Bitcoins, buy them and keep them safe. Don't play if you're not ready to lose. I can tell you I'm sorry for profiting off this, but we're here to compete in stabilising the market, and that leverage mania was both easy prey and an obstacle.

This doesn't work any other way. Why can't people teach one another to not dive into the fire with one's last strength?

+1
I should have never gone to sleep.

[SlaveInDebt]

Lift you head up high and blow your brains out 

[Luis_GT]

The only thing I'm mad about is not selling  at 6.50 when I had the chance... but as the asks pile up... I sold at $500 profit and hope price goes back down even further so I can rebuy cheap lol

[Jessi]

No, I am not again I lost again sooo much...  
Seem to me that it is not my year: lost my clients, lost much money, lost my ferret, lost my grandpa and now my bitcoins...

I feel bad when reading this.

Did nobody tell you what kind of game speculation is? If you want to keep Bitcoins, buy them and keep them safe. Don't play if you're not ready to lose. I can tell you I'm sorry for profiting off this, but we're here to compete in stabilising the market, and that leverage mania was both easy prey and an obstacle.

This doesn't work any other way. Why can't people teach one another to not dive into the fire with one's last strength?

You don´t mhave to feel bad, because it is not anyone fault. It´s just my fault. Anyway typed this during feeling bad, too, because it´s the truth this year (and the last also) I had not much luck. Anyway I felt "living" during the ride and maybe those moments where it whorse. I dont´t know, yet.

[Crypt_Current]

I just knew I shoulda got out @ $6.90 lolz

With so many people short we could be back up above that in no time. There is no shorting on bitcoinica which usually causes a rally. A rally coupled with those who leveraged new shorts will give us the fuel to go above $8 even. Since this selloff was vicious you can be the next rise will be just as if not more vicious.

I'm leaning this way too.
Man, I feel really bad for anyone playing at the same level as I am that lost it all  
MUST... BELIEVE...
I haven't been Zhoutonged ... yet

[RyNinDaCleM]

Good here, Thanks! 

[ineededausername]

I was so wrong.. and right at the same time.

I spotted a massive selloff a few days ago (PSAR, textbook head and shoulders, and triangle formation), but the run up to $7.2 made my emotions get in my way.  I made the mistake of thinking that it would actually break (and many other people also did).  I am sure that if it had gotten past 7.2, it would have gotten to 10, but that's not what happened, and I was wrong.  Several times I came close to shorting, or posting threads saying "rally now or never... looks like never at this point," but never had the heart to do so when it looked so strong.

At least I suffered no losses on the market... because I wasn't in it

derp.

[Hunterbunter]

It seems to me, if you still believe going long had its benefits a day ago, what's changed except the price today? Margin calls might mess you up, and there's no avoiding that with leveraging to the hilt, but if you're still in the game, there's no reason to see this as the end of the world. Chances are it's further manipulation beyond your control.

A load of btc were dumped onto the market, but there hasn't been a fundamental failure in BTC to cause it - the rise itself didn't really make a lot of sense, either. If anything, I suspect this is another ploy to get you to sell your btc cheaper so someone else can buy up big. In markets like these, profits are always made at someone else's expense...not a good or bad thing, just a thing. Don't ever bet everything you have, unless you're 100% sure it's going to pay off.

[ineededausername]

A load of btc were dumped onto the market, but there hasn't been a fundamental failure in BTC to cause it.

Which doesn't change the short term outlook at all.

I'm always a long-term bull.

edit: I think this crash sort of gauges the relative strength of different price factors:

Weak factors (short term): fundamentals like exposure, adoption, new businesses etc
Very strong factors (short term): Bitcoinica leverage, the Manipulator, technicals

[Crypt_Current]

Everybody!  Everyone!!!

come on in, huddle around -- group hug time   

[legitnick]

Everybody!  Everyone!!!

come on in, huddle around -- group hug time   

[Crypt_Current]

Crap, forgot about nick.  I'm poor as shit too dude.  Gimme your addy, i'll give you a coin. 

[Herodes]

Hm.. Not trying to be a smartass, and not sure if people will be receptive to this, but a pro gambler friend of me always told me:

* Remember what you're risking, you can lose.

It took me years before I finally grasped this concept. And I may stray away from it from time to time still.

But I try never to risk more than max 10-25%  of my current bank any time doing some trades a day on mtGox. When feeling more confident
I may go in heavier.

The bottom line though, is that there are always risks, and anyone trading in this market should be aware of it.

With good bank management, the swings are smaller, but you don't risk getting wiped out by single freak accidents.

For those sitting on a loss: Often just waiting can help you recup your losses, so if you bought in at 7.05,  you may as well profit if you wait for a while.

I remember the early days of Betfair, I was increasing my bank extremely fast, but I traded and betted like a mad man, risking too much of the bank too often.

Sooner or later you get stung, and for me it happened when a a team made an equalizer in a soccer match on overtime, the bank I'd been building up over weeks vanished by the touch of a ball...

Another time I had a similar devastating loss when I didn't close a position on a horse when doing pre race horse trading on the same exchange. The sinking feeling, thinking of how much money you just blasted away, not good for the health.

So learning from those gruelling lessons, I stopped trading/gambling altogether for years.

Just saying if anyone is in a similar position, just walk away, accept the losses if you have realized them, and remember there's always another day.

Oh, and never chase your losses. That's also something my pro gambler friend told me.

[legitnick]

Crap, forgot about nick.  I'm poor as shit too dude.  Gimme your addy, i'll give you a coin. 

I'll send you half my script if you re pay inau.

[Crypt_Current]

Crap, forgot about nick.  I'm poor as shit too dude.  Gimme your addy, i'll give you a coin. 

I'll send you half my script if you re pay inau.

OH ... Well!  I meant address buuuutttt yeah man i will totally do that too!

[Crypt_Current]

Crap, forgot about nick.  I'm poor as shit too dude.  Gimme your addy, i'll give you a coin. 

I'll send you half my script if you re pay inau.

OH ... Well!  I meant address buuuutttt yeah man i will totally do that too!

Also... what do I owe INAU for?  Maybe you have me confused with someone else?

[RandyMarsh]

I'm wonderfull

[legitnick]

Crap, forgot about nick.  I'm poor as shit too dude.  Gimme your addy, i'll give you a coin. 

I'll send you half my script if you re pay inau.

OH ... Well!  I meant address buuuutttt yeah man i will totally do that too!

Also... what do I owe INAU for?  Maybe you have me confused with someone else?

No I owe him.

[Crypt_Current]

Crap, forgot about nick.  I'm poor as shit too dude.  Gimme your addy, i'll give you a coin. 

I'll send you half my script if you re pay inau.

OH ... Well!  I meant address buuuutttt yeah man i will totally do that too!

Also... what do I owe INAU for?  Maybe you have me confused with someone else?

No I owe him.

OIC ... I PM you now

[gewure]

am good out of it