My exit strategy is that I only sell my Bitcoins when doing so changes my life, such as by buying a house.
Fully agree here, the same for me.
Topic: Bitcoin Exit Strategy(profit taking)(price target 90-110) (Read 4240 times)
Fully agree here, the same for me.
Pfft, exit strategies? Aint got no time for that.
We need topics & innovation on entrance strategies!
We need topics & innovation on entrance strategies!
Curious who actually followed this trading strat.
Wouldn't have been bad if you bough at the time of this thread created.
Wouldn't have been bad if you bough at the time of this thread created.
Does he really call himself a trader?
To make those kind of generalized comments on such a short time window is complete ignorance.
Anything that has seen the kind of momentum Bitcoin is seeing right now will see pullbacks and volatility, no matter what it is. Generalizing about the Bitcoin market on a 2 hour trade window is just plain ignorance or outright stupidity.
To make those kind of generalized comments on such a short time window is complete ignorance.
Anything that has seen the kind of momentum Bitcoin is seeing right now will see pullbacks and volatility, no matter what it is. Generalizing about the Bitcoin market on a 2 hour trade window is just plain ignorance or outright stupidity.
You are also think that silver worth 29 USD right? (lol)
Just a few days later and Bitcoin trading at $69.80 proves how ignorant that analysis was.
Precious metals and Bitcoin cannot be compared one-to-one. We have thousands of years history with precious metals.
Bitcoin is more like a startup. The topside potential has yet to be reached. When it has reached market saturation then we can start treating it like a commodity trade.
Precious metals right now are just off their all-time high. While the general fear that drove them so high has abated, I believe this sentiment is only temporary.
The fundamental problems that caused the fear are still there. The recent events with the Euro are beginning to highlight those problems yet again. Don't think for a second the dollar is immune.
When that happens we'll see another surge in precious metals. While a little too high for me to be buying right now, the run is far from over. I'm holding currently.
P.S. At these prices and this kind of momentum, other then short-term day trades, Bitcoin is way too risky for me to buy as well right now. I'm holding, waiting for another consolidation period and buy opportunity. Who knows how high this momentum can push the market. But it's a wild-ass gamble to try to jump on a moving train as they say.
Does he really call himself a trader?
To make those kind of generalized comments on such a short time window is complete ignorance.
Anything that has seen the kind of momentum Bitcoin is seeing right now will see pullbacks and volatility, no matter what it is. Generalizing about the Bitcoin market on a 2 hour trade window is just plain ignorance or outright stupidity.
To make those kind of generalized comments on such a short time window is complete ignorance.
Anything that has seen the kind of momentum Bitcoin is seeing right now will see pullbacks and volatility, no matter what it is. Generalizing about the Bitcoin market on a 2 hour trade window is just plain ignorance or outright stupidity.
You are also think that silver worth 29 USD right? (lol)
Does he really call himself a trader?
To make those kind of generalized comments on such a short time window is complete ignorance.
Anything that has seen the kind of momentum Bitcoin is seeing right now will see pullbacks and volatility, no matter what it is. Generalizing about the Bitcoin market on a 2 hour trade window is just plain ignorance or outright stupidity.
To make those kind of generalized comments on such a short time window is complete ignorance.
Anything that has seen the kind of momentum Bitcoin is seeing right now will see pullbacks and volatility, no matter what it is. Generalizing about the Bitcoin market on a 2 hour trade window is just plain ignorance or outright stupidity.
Here is how Tyler Durden from zero hedge cover it:http://www.zerohedge.com/news/2013-03-21/silver-slams-higher-bitcoin-hysteria-shifts-non-electronic-money
While the future is very bright for Bitcoin, things can always change.
And of course along the way, human nature as it is, we'll see boom and bust cycles.
I think it would be naive to not have a few exit strategy options in place. Not that you need to use them. But have them in place.
Possible exits:
Precious Metals:
Gold, Silver, Platinum
Crypto currencies:
Namecoin
Litecoin
Hedging:
If we get a viable options market going simply hedge your downside with options, and stay in Bitcoin. Hopefully we see this in the future.
Other exit options I would really love to see:
Commodities:
Someone create a Bitcoin-based commodities derivatives exchange.
Let me take leveraged positions in Grains, Metals, Energy, Indices, Soft Goods... and let me do it 100% within the Bitcoin framework.
And of course along the way, human nature as it is, we'll see boom and bust cycles.
I think it would be naive to not have a few exit strategy options in place. Not that you need to use them. But have them in place.
Possible exits:
Precious Metals:
Gold, Silver, Platinum
Crypto currencies:
Namecoin
Litecoin
Hedging:
If we get a viable options market going simply hedge your downside with options, and stay in Bitcoin. Hopefully we see this in the future.
Other exit options I would really love to see:
Commodities:
Someone create a Bitcoin-based commodities derivatives exchange.
Let me take leveraged positions in Grains, Metals, Energy, Indices, Soft Goods... and let me do it 100% within the Bitcoin framework.
3.Move into other crypto-currency like LTC but not just by selling your BTC for LTC but by selling BTC for USD and then Buy
LTC for USD that way you lifting the LTC price against fiat and at the same time lifting the price against BTC also you can move back to BTC anytime you want.
Perhaps I'm missing something here, but I don't follow?
How is converting BTC to USD then to LTC doing anything but adding fees and supporting fiat currency. Not to mention opening yourself up to all kinds of reporting liabilities and/or possible capital gains?
Why not move straight from BTC to LTC?
My exit strategy is to sell half my BTC when doing so will allow me to retire comfortably.
my exit strategy is to buy more popcorn
My exit strategy is death.
My exit strategy is that I only sell my Bitcoins when doing so changes my life, such as by buying a house.
I meant profit taking strategy ....
My exit strategy is not to exit bitcoin until the fundamentals change or I need a different asset.
I plan to begin exchanging some of my Bitcoins for other tangible assets after the price reaches around ~$5000 or in about 5 years whichever comes first. I may take out my initial investment sometime before then, though that will be somewhat insignificant. This plan will change if there are flaws discovered in the protocol or if I see some other threat to the price of bitcoin.
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Bitcoins are the profit silly.
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Bitcoins are the profit silly.
...
This! I am quite profitable and never "cash out". I just spend BTC to buy what I want. Why would I go back to 2nd. rate fiat? yuk.
I meant profit taking strategy ....
My exit strategy is not to exit bitcoin until the fundamentals change or I need a different asset.
Bitcoins are the profit silly.
Plus, if LTC is used for anything except for buying BTC you're doing it wrong.
I meant profit taking strategy ....
My exit strategy is not to exit bitcoin until the fundamentals change or I need a different asset.
My exit strategy is not to exit bitcoin until the fundamentals change or I need a different asset.
At the time when bitcoin price in fiat continues to conquer new heights you need some exit strategy to lock profits and keep the value of your holding.(https://bitcointalksearch.org/topic/get-ready-major-buy-signal-at-this-last-profit-taking-correction-154119)
So what options for exit strategy do you have ?
1.Move into fiat(not so smart because You are taking risk of value erosion compared to crypto-currency and hard assets as gold and silver)
2.Move into physical silver or gold which is not a bad idea but it involves many unnecessary expenses .
3.Move into other crypto-currency like LTC but not just by selling your BTC for LTC but by selling BTC for USD and then Buy
LTC for USD that way you lifting the LTC price against fiat and at the same time lifting the price against BTC also you can move back to BTC anytime you want.
(explained in details here from min 10:57 http://www.youtube.com/watch?feature=player_detailpage&v=Pe65K-olu0I)
Crypto-currency exchanges:
Vircurex https://vircurex.com/welcome/index?referral_id=274-2812
BTC-e https://btc-e.com/
Buying gold and silver for bitcoins:
http://bitmit.net/en/?ref=2689
http://coinabul.com/?a=488
http://www.goldsilverbitcoin.com?affiliates=aab3238922bcc25a6f606eb525ffdc56
So what options for exit strategy do you have ?
1.Move into fiat(not so smart because You are taking risk of value erosion compared to crypto-currency and hard assets as gold and silver)
2.Move into physical silver or gold which is not a bad idea but it involves many unnecessary expenses .
3.Move into other crypto-currency like LTC but not just by selling your BTC for LTC but by selling BTC for USD and then Buy
LTC for USD that way you lifting the LTC price against fiat and at the same time lifting the price against BTC also you can move back to BTC anytime you want.
(explained in details here from min 10:57 http://www.youtube.com/watch?feature=player_detailpage&v=Pe65K-olu0I)
Crypto-currency exchanges:
Vircurex https://vircurex.com/welcome/index?referral_id=274-2812
BTC-e https://btc-e.com/
Buying gold and silver for bitcoins:
http://bitmit.net/en/?ref=2689
http://coinabul.com/?a=488
http://www.goldsilverbitcoin.com?affiliates=aab3238922bcc25a6f606eb525ffdc56
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