General question: How do you know when to sell?

hilariousandco

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Quote from: zengryT on December 13, 2013, 11:55:20 AM

Quote from: shadowpuppet on December 13, 2013, 11:47:15 AM

The price of Bitcoin always seems to dip over the weekend. I made 500 mBTC over the weekend by selling some of mine Friday morning and buying back in Sunday.

Does it work every week? Seems too easy to be true

You can buy and just hold until the price rises. The thing is with Bitcoin it is very easy to make money because the price fluctuates so much and from one exchange to the other.

stompix

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Blackjack.fun

Quote from: zengryT on December 13, 2013, 11:55:20 AM

Quote from: shadowpuppet on December 13, 2013, 11:47:15 AM

The price of Bitcoin always seems to dip over the weekend. I made 500 mBTC over the weekend by selling some of mine Friday morning and buying back in Sunday.

Does it work every week? Seems too easy to be true

It's a gamble. But you have to make more on the weeks it does so , than you would end losing the weekend it does not

.

zengryT

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Quote from: shadowpuppet on December 13, 2013, 11:47:15 AM

The price of Bitcoin always seems to dip over the weekend. I made 500 mBTC over the weekend by selling some of mine Friday morning and buying back in Sunday.

Does it work every week? Seems too easy to be true

guybrushthreepwood

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Quote from: shadowpuppet on December 13, 2013, 11:47:15 AM

The price of Bitcoin always seems to dip over the weekend. I made 500 mBTC over the weekend by selling some of mine Friday morning and buying back in Sunday.

High flying day trader here Cheesy

.

shadowpuppet

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The price of Bitcoin always seems to dip over the weekend. I made 500 mBTC over the weekend by selling some of mine Friday morning and buying back in Sunday.

t3xasdolly

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Quote from: __ johnnyb__ on December 13, 2013, 11:33:17 AM

My strategy is to hold them long term..

I have bought when it was $220 and almost died, but now it seems cheap.. so... I'm here for the long run..

I agree, only sell or spend when you need money, regardless of price

__ johnnyb__

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My strategy is to hold them long term..

I have bought when it was $220 and almost died, but now it seems cheap.. so... I'm here for the long run..

Bitcoin2Pocket

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Being the founder of a Bitcoin selling website I get many e-mails and reasons for selling. Of Course the latest reason for selling is people who bought or mined bitcoins back when they werent worth anything near what they are now are looking to cash in, especially at the Christmas period. We've also got a few bulk deals to buy a set amount from people who sell services and get paid in Bitcoin, especially with things like web hosting as they ultimately need to convert it into cash to pay suppliers.

Ultimately you decide when to sell. I still personally believe (perhaps its a gamble on my side) that its going to go up in value still.

hilariousandco

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Quote from: Sindelar1938 on December 13, 2013, 05:16:23 AM

You don't

Do your homework on cryptos and set yourself to hold over a multi year period and you will be fine

You can make quite a bit of money on daytrades, but like you said, I prefer to hold on to my coins and not worry about the stress of buying and continually selling.

Sindelar1938

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You don't

Do your homework on cryptos and set yourself to hold over a multi year period and you will be fine

hieroglyph

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I believe the general consensus is to sell for a profit. Better position yourself to buy in for a deal and make more of a profit. Simple rule of thumb being to buy low and sell high. I think selling or buying should be done incrementally over a period of time for the most part.

yogi

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Hamster ate my bitcoin

hollowframe

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no one can give you an answer that will give you what you need. many indicators, attempt to measure sentiment, chart formations, trends

odin99

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thanks for all the replies. this will get me started with currency trading 101.

i did hit spots on the way up last night and am up .5 btc, although i already lost that today in another alt coin. learning.

peta4e

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Just do not sell until necessary : )

tampazeus

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Quote from: odin99 on December 11, 2013, 03:24:50 PM

How do you know when to sell? Obviously you're shooting for the tip right before it starts to go down, but what are some of the signs to look for? I've been trading for a little while now, and either sell way too early, or way too late. i didn't study economics, maybe that is my problem.

there's probably threads on this in some of the other forums, but seemed like a good question to ask for newbie.

Newbie should not try to trade, probably will pay for hard learned lessons. Just holding seems much safer option so far

ajax3592

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Crypto News & Tutorials - Coinramble.com

In my opinion a good trader should sell if price is 50% above invested amount.
Greed is risky - to each his own.

You will find this section interesting once you get past newbie limits
https://bitcointalk.org/index.php?board=7.0

hilariousandco

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Quote from: odin99 on December 11, 2013, 03:24:50 PM

How do you know when to sell? Obviously you're shooting for the tip right before it starts to go down, but what are some of the signs to look for? I've been trading for a little while now, and either sell way too early, or way too late. i didn't study economics, maybe that is my problem.

You can never predict the markets and there's no easy way to know when to sell, but the first principle is buy low and sell high; so just sell when you're happy with what you can get. If you're not; don't sell just yet. Nobody can give you a foolproof guide on how to play the markets, just learn from experience and have fun. Also only invest/gamble with what you can afford to lose.

guybrushthreepwood

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Sell when you're happy with the price. Keep hold of the coins too long and you might see them depreciate. Nobody can answer this question for you; you've just got to sell when you think the time is right. Personally I'd keep hold of the coins for at least a year or so, but you can make quite a bit of money on day trades, but this is time consuming and riskier knowing when to sell.

miners78

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The problem is that you can't sell after it starts to dip. So it you are trying to sell high buy low, then you need to be able to guess when it will turn which IMO is the hardest part.

This is due to the fact that when it starts going down again for example, noone is going to buy because a few seconds later, your price will already be more than the average price.

Topic: General question: How do you know when to sell? (Read 1071 times)