Topic: I feel really dumb - page 2. (Read 7852 times)

HOOOOOOOOOOOLD for the longest time

When you see a profit you weigh the risk of not taking a sure profit vs the risk of losing the profit. Most of the time taking many small nibbles is smarter than taking large bites.

People who trade on greed tend to lose money. People who trade by numbers tend to make money. Have faith in the numbers, and feel that instead of feeling yourself.

this is a good observation. game theory is very important in speculation.

If you bought one week ago you should have made much more than 10%. Heck, you should have made almost +80%, last week BTC/USD was at $80ish and now at +$140

If you only made 10% then you really suck at trading my friend.

I've only made money. Stop being greedy. When you can make 50-60% profit then take it. When you refuse to take a sure profit thats when you risk it all for nothing. Take the small profits of 20-50%, they add up over time. Only bet long when you know it's under valued.

I made the same today.. I expect more a crash into the low 100s than a rally into the high 100s. So better take out my 94 eur at 109 eur.

Nice...I started a week ago and am up 10% on my investment. Somebody tell me what other investments can return 10% in one week?

The way I see it is it's more fun, active and potentially higher return than than if you leave your money in the bank.

Also my number one rule is I don't sleep with bitcoins, sure I have some fun with them during the day but I don't want to take them to bed with me or I will be checking on them throughout the night.

I think a lot of people are using last months model to invest in bitcoin. Those days are gone imho. It took the crash to bring bitcoin to a new level of public knowledge, and with that came a new wave of investors. I think we are starting to see the beginning of the 'stability' we all crave. I know of a few people who walked away during the insane 260's spike we saw, but anybody with half a brain could see that that rate of upward movement was not sustainable. So we lost a few early adopters, some heavy investors out for profit, and a gang of retards. I myself made a decent chunk of usd in that spike, but I see BTC as a long-term investment that I use multiple accounts with different purposes to make the most of it. I have a day trading wallet that I am willing to lose all of if I make bad decisions, I have a gambling/free coin account(my sig wallet), and I have my vault, where I am putting the majority of my coin while this whole introduction phase takes place. When Bitcoin becomes the, for lack of a better term, facebook of online currency, and we see the true value of bitcoin emerge, then I will know that I made the right decisions. The trick is to stop looking at the micro-movements and to just let it ride. I consider all of the coins I have to be nothing more any other code in my computer....a means to an end. A way for me to get done what I need to get done. And until bitcoin becomes as frequently used a term as mac, pc, android...etc, I am going to hold onto what I have because I see a future where bitcoin is more than just a ticker figure.

Just my 2 pennies.

Buy and hold. Bitcoins is on a long term uptrend, theres no reason to think thats over, just think a bit longer term.

I have made good movement till now day trading.. Anyway, the sell at 27$ waiting for a correction to 20$ to buy again.  
That one took out all the profits made, and I understimated the increase of price.. Never thought It would go to 266$. Anyway, I'm in the game again, making money.
Lose at bitcoins, gains in fiat. Hope to be able to have the same number of coins as I had 4 months ago anyway, now holding coins, but I expect (hope) a crash in the few weeks at least to the near seventies.
If I go near 100-200BTC again, 10% to daytrading and all the others to cold wallet, and lets wait a few years. How stupid I was daytrading with my whole stack into one movement. What a fucking bad bet I made. At least I learnt a lot of things during this 4 months.

Chill

the

fuck

out

Oh, please. You haven't seen nothing yet, if you think that is a failure. You haven't even lost anything yet, just not played optimal (which absolutely no one does).

It will definitively go over 140, the question is only will it do it straight away, or will it take a dip first? If you believe in the dip then there is money to be earned from selling at a small loss now and then buying in later at a larger profit.

But day trading is a remarkably slippery activity. It's easy to win a few coins here and there on the small movements but then there tends to be larger movements that can quickly erase all your profits. In the larger picture it is indeed a zero-sum activity. One person's winnings is another person's loss.

THX, i knew i missed something

Day trader here and up 1600% so far on Bitcoin.  Buy low, sell high.  Use logic, fuck emotion.  Good luck!

Yep, I think of it as poker too, and poker is the only gambling game I play.

Problem is I lose poker too.

Who doesn't lose though is the house.

The house always takes their cut. Notice how Gox fees are surprisingly similar to a blackjack table...

Would be nice to have a day-trading simulator, based on historic trading data. Might teach many traders a lesson before they try their luck.

Active trading is worth a try on markets that mostrly go sideways, but with an asset like Bitcoin that can raise for weeks without falling, it is very hard to beat "buy & hold".

My rule of thumb is, if the price isn't where you want it to be, just wait a few days.

This.

Panic market orders based on feelings/emotions is ridiculous. Doing that you will be loosing money in the long term, it can go well for 5, 10, even 15 trades, but as soon as it goes bad you will destroy the profit you did in all the other trades.

I can't imagine day trading with the relatively quiet market the last week or two.  I certainly don't have the skills, or balls of steel, to do it.

During the crash I tried my hand at it (largely because even if I bet wrong, I was still picking up relatively cheap coins so I justified it in my mind).  I traded over the friday/saturday after the crash, and had a really fun time doing it.

But, that was with regular (every 2-4 hours) $20-30 price movements.  You almost had to be an idiot to lose money doing so, if you followed any sort of non-emotional trading strategy.

I made a decent amount, but it really is nothing more than gambling.  Very fun, addictive, gambling - but pretty much on par with poker as far as I can tell.  Sure, you can increase your odds considerably by knowing the game, but you're in the end at the mercy of factors outside of your control.

So - my very naive advice is treat it like a trip to Vegas.  Set your loss limits, and make sure you get out if you ever reach those.  That way you can think of it as cheap entertainment vs. losing money with a financial instrument.  Makes a lot more sense to me that way, and it's a whole lot less stressful

I kind of hope to see volatility again (not really - I think it's bad for Bitcoin as a whole) during a weekend so I can sit down with a glass of whiskey, do some trading, and talk shit in chat with the other day traders  Fun times!

The number one lesson when day trading: Stick to your order, don't try to make it undone!! Just wait, Bitcoin price is all over the place during the course of a week and you will make a profit guaranteed if you muster a little patience.