buy back in - when? - page 2. | Bitcointalksearch.org

jones31

newbie

Activity: 28

Merit: 0

Wait until the price stays down for a few days in a row. It's only been spiking down recently.

The price is spiking up right now , what charts do you use , if you use any at all?
The price is around 950 from 700 in the last days.
Stop giving advices if you don't have a clue what you're talking about.

Salivan

full member

Activity: 195

Merit: 102

DiMS dev team

Quote from: 600watt on December 10, 2013, 06:07:16 AM

i know it is a stupid advise, but it worked for me when i was cought in situations like yours:

buy back half (or a third) now.

whatever you lose or win, it is only half as bad after you did it. it will make you feel more relaxed and you can wait for the other half for better prices.

in addition, i can only repeat what others wrote: never play with all your coins. put the larger part in ice-cold storage. play with the smaller part to satisfy your temptations/panics.

i keep 95% (cold) & 5 % (exchange). it´s still a thrill, but much less nerve wrecking.

+1

sumantso

legendary

Activity: 1050

Merit: 1000

Quote from: GeniuSxBoY on December 09, 2013, 10:50:17 PM

Good things come to those who are patient.

Best advise IMO.

I still think we are on a downtrend. Though it will be clear in 2-3 days.

KFR

hero member

Activity: 560

Merit: 500

Per ardua ad luna

That's actually pretty good advice under the circumstances.

600watt

legendary

Activity: 2338

Merit: 2106

i know it is a stupid advise, but it worked for me when i was cought in situations like yours:

buy back half (or a third) now.

whatever you lose or win, it is only half as bad after you did it. it will make you feel more relaxed and you can wait for the other half for better prices.

in addition, i can only repeat what others wrote: never play with all your coins. put the larger part in ice-cold storage. play with the smaller part to satisfy your temptations/panics.

i keep 95% (cold) & 5 % (exchange). it´s still a thrill, but much less nerve wrecking.

piramida

legendary

Activity: 1176

Merit: 1010

Borsche

Nah, I would suggest using downtrend to increase your position by *buying*. You can sell some when it's much above what you bought it for, and then use that cash to buy back lower. Once you sell anything below your buying price, you are fixing a loss that is absolutely not needed as the price would recover.

TERA

hero member

Activity: 728

Merit: 500

Quote from: piramida on December 10, 2013, 03:36:00 AM

Quote from: Peter R on December 09, 2013, 11:16:49 PM

Never go full fiat. If you have zero bitcoins the time to buy is always now.

Nothing to add. Maybe this - never sell (even a portion) lower than you bought. It all sounds basic, but it's the only truth everyone should know about bitcoin trading.

I might add an exception to this - If you're in some really powerful downtrend and you know the price is about to drop 10% or more, you can play dead cat bounces and drops strategically trade your way out of the loss. Only do this if you're able to divert your complete attention to the market for the duration of the trade. When you sell you better have a plan about how you're going to immediately buy back within minutes, and have stop-loss (buy back) rules.

piramida

legendary

Activity: 1176

Merit: 1010

Borsche

Quote from: Peter R on December 09, 2013, 11:16:49 PM

Never go full fiat. If you have zero bitcoins the time to buy is always now.

Nothing to add. Maybe this - never sell (even a portion) lower than you bought. It all sounds basic, but it's the only truth everyone should know about bitcoin trading.

Elwar

legendary

Activity: 3598

Merit: 2386

Viva Ut Vivas

Buy when everyone else is in a "in a well thought out panic".

pbody

full member

Activity: 198

Merit: 100

Quote from: TERA on December 10, 2013, 01:05:49 AM

Never chase the price while it's rising fast. Wait for the next dip and buy on the bounce on some trendline. Then you will have evidence that that higher prices are attainable and then the price you're buying at is supported, and after the quick bounce you will have immediate realized gains.

If you realize that the trend you bought on is becoming weak and breaking you can always sell. 90% of the time with this strategy you'll have a chance to sell at a profit even if the trend is failing.

On the other hand, if you panic buy during a rise you may find 10 seconds later you are already at a loss and cant get out.

Good advice. So simple yet so hard. I'm finding that a lagging exchange can also be useful for profit.

TERA

hero member

Activity: 728

Merit: 500

Never chase the price while it's rising fast. Wait for the next dip and buy on the bounce on some trendline. Then you will have evidence that that higher prices are attainable and then the price you're buying at is supported, and after the quick bounce you will have immediate realized gains.

If you realize that the trend you bought on is becoming weak and breaking you can always sell. 90% of the time with this strategy you'll have a chance to sell at a profit even if the trend is failing.

On the other hand, if you panic buy during a rise you may find 10 seconds later you are already at a loss and cant get out.

Peter R

legendary

Activity: 1162

Merit: 1007

Quote from: pbody on December 09, 2013, 11:54:21 PM

Quote from: ?? on ??

If your planning on trading your value by the hour, buy at anytime and only sell higher. If you buying to sit on it, it won't matter when you buy because the gains you experience will negate any savings you may have had trying to save a quick buck. When it breaks 1,000.. its going up up and away.. so perhaps wait for that. Or just do some more research in the meantime.

Your right, it really doesnt matter when I get in. I did a lot of research today and am now in for the long haul.

It seems every trader has to go through this to learn. You can talk about it all day but nothing like actually playing the game while the price is diving and the LA Times is messing with your head with stupid articles.

No selling, only buying from now on.

Yes, welcome to the club, pbody.

If/when your BTC wealth becomes a decent fraction of your net worth, please consider applying Risto's SSS divestment plan (https://bitcointalksearch.org/topic/sss-a-sane-and-simple-bitcoin-savings-plan-345065). Once you've divested your initial investment, the crashes are a lot more tolerable.

Nolo

hero member

Activity: 686

Merit: 500

Whoa, there are a lot of cats in this wall.

Quote from: pbody on December 09, 2013, 11:54:21 PM

Quote from: ?? on ??

If your planning on trading your value by the hour, buy at anytime and only sell higher. If you buying to sit on it, it won't matter when you buy because the gains you experience will negate any savings you may have had trying to save a quick buck. When it breaks 1,000.. its going up up and away.. so perhaps wait for that. Or just do some more research in the meantime.

Your right, it really doesnt matter when I get in. I did a lot of research today and am now in for the long haul.

It seems every trader has to go through this to learn. You can talk about it all day but nothing like actually playing the game while the price is diving and the LA Times is messing with your head with stupid articles.

No selling, only buying from now on.

Welcome to the club

btbrae

hero member

Activity: 680

Merit: 500

Everyone's trying to catch this one, there are a lot more believers this time round... heels are dug in, expect a long wait for your buying opportunity.

romerun

legendary

Activity: 1078

Merit: 1002

Bitcoin is new, makes sense to hodl.

sell high, buy higher

pbody

full member

Activity: 198

Merit: 100

Quote from: ?? on ??

If your planning on trading your value by the hour, buy at anytime and only sell higher. If you buying to sit on it, it won't matter when you buy because the gains you experience will negate any savings you may have had trying to save a quick buck. When it breaks 1,000.. its going up up and away.. so perhaps wait for that. Or just do some more research in the meantime.

Your right, it really doesnt matter when I get in. I did a lot of research today and am now in for the long haul.

It seems every trader has to go through this to learn. You can talk about it all day but nothing like actually playing the game while the price is diving and the LA Times is messing with your head with stupid articles.

No selling, only buying from now on.

MAbtc

hero member

Activity: 826

Merit: 508

Quote from: ?? on ??

Three days ago when the exchange rate was below $600.

Very helpful.

seriouscoin

hero member

Activity: 658

Merit: 500

Quote from: jones31 on December 09, 2013, 11:23:19 PM

Quote from: pbody on December 09, 2013, 10:47:12 PM

I bought out at 750 in a well thought out panic. This is slightly above where I originally got in. Figured it was insurance. Now I want to get back in. I'm torn on waiting till it drops below 750 or just cut my losses as insurance and get the hell back on the boat. Thots?

If you're going to trade , the first thing is to get rid of the panic.
Panicking will only do things worse the next time , and you'll gonna probably make a big mistake if you get carried away.

Don't invest money that you need for daily needs. Think of bitcoin as an investment that you don't really need to touch in the coming years.
Also , best advice that worked for the last three "crashes" , HOLD.

HOLD if you dont know sell or buy.

Never sell in a crashes..

Sell when price is steady and you're comfortable with the price.

Day traders will say otherwise but the truth is.... most if not all day traders are only making just above mini wage... considering their time and psychological stress.

jones31

newbie

Activity: 28

Merit: 0

Quote from: pbody on December 09, 2013, 10:47:12 PM

I bought out at 750 in a well thought out panic. This is slightly above where I originally got in. Figured it was insurance. Now I want to get back in. I'm torn on waiting till it drops below 750 or just cut my losses as insurance and get the hell back on the boat. Thots?

If you're going to trade , the first thing is to get rid of the panic.
Panicking will only do things worse the next time , and you'll gonna probably make a big mistake if you get carried away.

Don't invest money that you need for daily needs. Think of bitcoin as an investment that you don't really need to touch in the coming years.
Also , best advice that worked for the last three "crashes" , HOLD.

PenAndPaper

sr. member

Activity: 252

Merit: 250

I don't think that panic buy is the way to fix a panic sell Tongue

Topic: buy back in - when? - page 2. (Read 3543 times)