Topic: I feel really dumb - page 3. (Read 7852 times)
don't day-trade, month-trade
Thank you for daytrading. If everyone allocated a small portion of their initial investment to daytrading in an attempt to benefit off price moves, it would stabilize the price more (assuming MtGox could handle it). Yes, there would be winners and losers, but the average strategy would net about zero. I take about 10% of my coins and buy/sell with 2 different strategies. Some days I'll have a little profit, other days I'll lose a little. The worse case is that I lose 10% by repeatedly selling low and buying high, but I sleep better at night knowing I'm adding some liquidity to the market.
1. Keep the coins safe.
2. Forget about them.
3. Come back in 5 years.
4. Profit.
+12.000% 2. Forget about them.
3. Come back in 5 years.
4. Profit.
1. Keep the coins safe.
2. Forget about them.
3. Come back in 5 years.
4. Profit.
2. Forget about them.
3. Come back in 5 years.
4. Profit.
+1
Your choices:
1) Sell all your bitcoins and walk away
2) Put most of your bitcoins, except what you need for upcoming purchases, on a cold wallet, and walk away. Check the price once a week rather than 14x a day.
3) (My approach.) Put a bunch of your coins in a cold wallet. Keep just what you need for regular purchases in a hot wallet. Keep a very small % of your total holdings in several exchanges. This is your "play money." You are not allowed to replenish your play money if you lose it.
Every once in a while, during times of high volatility, I log onto my exchange accounts and play around for a few hours. Usually I gain but when I do lose, it makes such a small dent in my portfolio that it doesn't concern me.
Finally, diversify. If you've already made, say, 5x or 10x ROI from BTC, it is somewhat risky keeping all of it there. Buy PMs with some of your bitcoin holdings (I recommend Amagi metals), keep a runaway fiat cash stash in case things in your local area go sour (you never know what could happen) and sell to strength - every X price point, sell Y% of your coins into fiat (could be 1%!) and/or use them to buy something nice. This way you aren't shooting yourself for not buying a Volt when we were at $262 as you'd have been selling to strength on the way up.
Lots of people selling to strength on rallies helps slow the rally and stabilize the price. Lots of newbs sitting on MtLag trying to daytrade with 15m lag causes panic sells.
1) Sell all your bitcoins and walk away
2) Put most of your bitcoins, except what you need for upcoming purchases, on a cold wallet, and walk away. Check the price once a week rather than 14x a day.
3) (My approach.) Put a bunch of your coins in a cold wallet. Keep just what you need for regular purchases in a hot wallet. Keep a very small % of your total holdings in several exchanges. This is your "play money." You are not allowed to replenish your play money if you lose it.
Every once in a while, during times of high volatility, I log onto my exchange accounts and play around for a few hours. Usually I gain but when I do lose, it makes such a small dent in my portfolio that it doesn't concern me.
Finally, diversify. If you've already made, say, 5x or 10x ROI from BTC, it is somewhat risky keeping all of it there. Buy PMs with some of your bitcoin holdings (I recommend Amagi metals), keep a runaway fiat cash stash in case things in your local area go sour (you never know what could happen) and sell to strength - every X price point, sell Y% of your coins into fiat (could be 1%!) and/or use them to buy something nice. This way you aren't shooting yourself for not buying a Volt when we were at $262 as you'd have been selling to strength on the way up.
Lots of people selling to strength on rallies helps slow the rally and stabilize the price. Lots of newbs sitting on MtLag trying to daytrade with 15m lag causes panic sells.
1. Keep the coins safe.
2. Forget about them.
3. Come back in 5 years.
4. Profit.
2. Forget about them.
3. Come back in 5 years.
4. Profit.
This.
Don't daytrade, just hold the coins and come back in a year (or longer). Either they are worthless then or you are rich.
There we go, over 135! haha 
So you screwed up a bit, as long as you learned something it wasn't a total loss. You say you are still ahead so you didn't do too badly.
Someone on this forum said 80% of traders lose money, 10% break even, 5% make money, 5% make serious money, 100% think they will make serious money. I can't remember who said that but it's highly insightful.
Someone on this forum said 80% of traders lose money, 10% break even, 5% make money, 5% make serious money, 100% think they will make serious money. I can't remember who said that but it's highly insightful.
Yeah I think I read that. *sigh*
I certainally think I'm going to make money, but when I work it out the money I could make isn't worth the risk.
WTF do you try to daytrade based on feelings, with no strategy at all?
Pros are making a profit thanks to you.
Pros are making a profit thanks to you.
Partly based on feelings... I have a strategy too, but if I'm sitting in front of the computer screen that'll often go out the window when all the green and red arrows start flashing.
I don't doubt it
It's only 1788ish to get through 135, it will probably get through it this week, if not today. 
So you screwed up a bit, as long as you learned something it wasn't a total loss. You say you are still ahead so you didn't do too badly.
Someone on this forum said 80% of traders lose money, 10% break even, 5% make money, 5% make serious money, 100% think they will make serious money. I can't remember who said that but it's highly insightful.
Someone on this forum said 80% of traders lose money, 10% break even, 5% make money, 5% make serious money, 100% think they will make serious money. I can't remember who said that but it's highly insightful.
Since the bitcoin recovery I've been trying to day trade.
It's worked fine a couple of times. Made $100 in one go, $200, and $60 another time.
However, it's also worked not so well a few times, and I've lost $600 in one go, and around $900 in one go, as well as a few smaller losses which could have otherwise been profits due to fees.
I'm so pissed, because when this current spike to 135 happened, I was waiting for the coins to drop a little lower.
I ended up panic buying at 135 thinking that we'd break through the wall.
We didn't.
Fuck me. I'm just so annoyed. I'd have around 20 more coins if I'd just put my coins onto a usb stick an didn't touch it.
Fuck fuck fuck...
I feel like selling all my coins at a loss right now, and never talking about bitcoin again (even though overall I know I'm ahead)
It's worked fine a couple of times. Made $100 in one go, $200, and $60 another time.
However, it's also worked not so well a few times, and I've lost $600 in one go, and around $900 in one go, as well as a few smaller losses which could have otherwise been profits due to fees.
I'm so pissed, because when this current spike to 135 happened, I was waiting for the coins to drop a little lower.
I ended up panic buying at 135 thinking that we'd break through the wall.
We didn't.
Fuck me. I'm just so annoyed. I'd have around 20 more coins if I'd just put my coins onto a usb stick an didn't touch it.
Fuck fuck fuck...
I feel like selling all my coins at a loss right now, and never talking about bitcoin again (even though overall I know I'm ahead)
Is the bitching about ........ helping?
If you play with fire, things tend to get hot^^
Advice for Today: Treat BTC as a hedge fund next time!
Welcome to capitalism 101:.... no refunds, no playtime (sandbox mode), no chargebacks, once stolen/lost - forever forgotten, no big .gov welfare and so on. Embrace its flaws
WTF do you try to daytrade based on feelings, with no strategy at all?
Pros are making a profit thanks to you.
Pros are making a profit thanks to you.
1. Keep the coins safe.
2. Forget about them.
3. Come back in 5 years.
4. Profit.
2. Forget about them.
3. Come back in 5 years.
4. Profit.
sell and walk away...
Since the bitcoin recovery I've been trying to day trade.
It's worked fine a couple of times. Made $100 in one go, $200, and $60 another time.
However, it's also worked not so well a few times, and I've lost $600 in one go, and around $900 in one go, as well as a few smaller losses which could have otherwise been profits due to fees.
I'm so pissed, because when this current spike to 135 happened, I was waiting for the coins to drop a little lower.
I ended up panic buying at 135 thinking that we'd break through the wall.
We didn't.
Fuck me. I'm just so annoyed. I'd have around 20 more coins if I'd just put my coins onto a usb stick an didn't touch it.
Fuck fuck fuck...
I feel like selling all my coins at a loss right now, and never talking about bitcoin again (even though overall I know I'm ahead)
It's worked fine a couple of times. Made $100 in one go, $200, and $60 another time.
However, it's also worked not so well a few times, and I've lost $600 in one go, and around $900 in one go, as well as a few smaller losses which could have otherwise been profits due to fees.
I'm so pissed, because when this current spike to 135 happened, I was waiting for the coins to drop a little lower.
I ended up panic buying at 135 thinking that we'd break through the wall.
We didn't.
Fuck me. I'm just so annoyed. I'd have around 20 more coins if I'd just put my coins onto a usb stick an didn't touch it.
Fuck fuck fuck...
I feel like selling all my coins at a loss right now, and never talking about bitcoin again (even though overall I know I'm ahead)
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