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Author Topic: My strategy for when Bitcoin price is going down  (Read 3594 times)
TheButterZone
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September 04, 2014, 06:39:11 PM
 #61

Trend trading is no different than day trading it can always backfire in your face and you can lose a lot of money as a buy rally will happen randomly and it can catch you while you sleep. Thats like 8 hours minimum daily you are risking + more if you are not monitoring the market constantly.

https://play.google.com/store/apps/details?id=br.eti.fml.satoshi&hl=en Bitcoin Paranoid - set alerts for various thresholds of price movement, and let it wake you up when your device is plugged into its charger.

Saying that you don't trust someone because of their behavior is completely valid.
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wasserman99
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September 04, 2014, 11:02:53 PM
 #62

Trend trading is no different than day trading it can always backfire in your face and you can lose a lot of money as a buy rally will happen randomly and it can catch you while you sleep. Thats like 8 hours minimum daily you are risking + more if you are not monitoring the market constantly.

https://play.google.com/store/apps/details?id=br.eti.fml.satoshi&hl=en Bitcoin Paranoid - set alerts for various thresholds of price movement, and let it wake you up when your device is plugged into its charger.
The price of bitcoin is very volatile. Unless you set the thresholds to be a large percentage from the current price, it would not be uncommon for your "alarm" to be set off several times per day. If you are woken up in the middle of the night the potential for profit could already be gone by the time you wake up and boot up your computer/laptop.

EDIT: also if you have a significant other I can say with a good amount of certainty that s/he will not like this idea.

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