Low bid orders and preparing for a crash (again).

flaab

full member

Activity: 121

Merit: 100

Quote from: evolve on April 15, 2013, 11:38:12 AM

I have all my current bids set at $40 and below, with my lowest bid set at $5. Wouldn't be surprised to see all of them filled by the end of the month...

Do you have bids set in place for a crash? If so, where at, and when do you believe they will get filled?

I have at 5.01

evolve

hero member

Activity: 700

Merit: 500

daytrader/superhero

Quote from: aurora on April 15, 2013, 02:33:50 PM

your system wont work if it crashes big time

The orders are much heavier at the bottom in singles than they are at the top, if it crashes hard my cost basis will be low enough to profit on the bounce (or at the worse case, I have to carry a few BTC for the mid term).

Malawi

full member

Activity: 224

Merit: 100

One bitcoin to rule them all!

Quote from: dontek on April 15, 2013, 03:11:01 PM

Well shit. I guess the other day I placed an order if it went to $85 and apparently it did and I forgot I had the bid standing. Welp, I now own some more bitcoin. Hopefully it wasn't a stupid purchase and the price goes up a little bit more. I don't think we're done with teh high volitality quite yet so if they hit $100 again, I'm dumping and holding until the price dips down again. Stupid move on my behalf not paying attention to open orders.

Even though the market is heading downwards, there are huge swings. I'm sure you'we got your money back as the market is hovering just below 99 ATM.

dontek

full member

Activity: 129

Merit: 100

Well shit. I guess the other day I placed an order if it went to $85 and apparently it did and I forgot I had the bid standing. Welp, I now own some more bitcoin. Hopefully it wasn't a stupid purchase and the price goes up a little bit more. I don't think we're done with teh high volitality quite yet so if they hit $100 again, I'm dumping and holding until the price dips down again. Stupid move on my behalf not paying attention to open orders.

Malawi

full member

Activity: 224

Merit: 100

One bitcoin to rule them all!

+1 last poster.

It's sound advice to put in at least one high sell order and one low buy order if you have sufficient founds. The prices fluctuate quite a bit every day, Why not be open for selling a few at 150 and buying at 50 (Or whatever number you see fit)?

Myself - I dont have enough founds for that sort of stuff, but find it entertaining to follow the upps and downs.

BubbleBoy

sr. member

Activity: 504

Merit: 250

Quote from: RodeoX on April 15, 2013, 02:20:58 PM

I would add that some of us do not care about "investing" in bitcoin. For me it is a way to safely, quickly and cheaply send money. I will continue to use it whatever the price.

Yeah, but why not play the market like a boss and earn 20-30x your money in a few months span ? Before you burn me at the stake as an evil speculator, realize that such actions help stabilize the price, buy when it's cheap and sell on the tip of bubble. People playing the bubble are preventing it from happening.

So it's not the cold blooded speculators that ruin the bitcoin market, looking for a short time profit. It's the greed of long term bulls: "there's a limited amount of bitcoins so if I get in early I will be RICHER THAN GEORGE FUCKING SOROS !". Such stupidity attracts sharks like a bloody fresh kill, and they stabilize the market back by feasting on the dumb money. Without the long bulls and the "store of wealth" promise (an economic impossibility), there would be no speculation and BTC price will stay rock solid.

RodeoX

legendary

Activity: 3066

Merit: 1145

The revolution will be monetized!

Quote from: evolve on April 15, 2013, 02:23:57 PM

Quote from: RodeoX on April 15, 2013, 02:20:58 PM

I would add that some of us do not care about "investing" in bitcoin.

Then the speculation subforum is a strange place for you/those people to be posting...this subforum is specifically for price talk as it relates to trading/investing.

Fair enough. And I'm not against speculation. I like how you can do anything with BTC that can be done with fiat, and more. I was just adding that the bitcoin economy has become complex and so reading sentiment is also complex.

aurora

member

Activity: 158

Merit: 10

Quote from: evolve on April 15, 2013, 01:11:34 PM

Quote from: aurora on April 15, 2013, 11:56:29 AM

Personally , i never set bids for future crash. You never know how low it'll go.

That's why you set staggered buy orders all the way down...you don't know how low it will go or where it will settle, but you can lower your cost basis quite a bit and possibly profit on the bounce (or by holding mid to long term depending on your own investment strategy).

your system wont work if it crashes big time

evolve

hero member

Activity: 700

Merit: 500

daytrader/superhero

Quote from: RodeoX on April 15, 2013, 02:20:58 PM

I would add that some of us do not care about "investing" in bitcoin.

Then the speculation subforum is a strange place for you/those people to be posting...this subforum is specifically for price talk as it relates to trading/investing.

Qoheleth

legendary

Activity: 960

Merit: 1028

Spurn wild goose chases. Seek that which endures.

I don't place standing limit orders, because the code I've written to support them isn't ready for prime time yet.

But if you include "bids that a bot will place as soon as the price falls sufficiently", I'm also bidding all the way down to $5 (after that, depending on how the price got there it's possible I run out of dry powder and have to stop temporarily).

I have no idea when they'll be filled, if ever. I'm no good at predicting the moves of this market.

RodeoX

legendary

Activity: 3066

Merit: 1145

The revolution will be monetized!

I would add that some of us do not care about "investing" in bitcoin. For me it is a way to safely, quickly and cheaply send money. I will continue to use it whatever the price.

mgio

hero member

Activity: 546

Merit: 500

Quote from: chiropteran on April 15, 2013, 02:12:09 PM

I think the existence of these sorts of threads proves that there won't be a crash. Everyone is loving the idea of buying cheap bitcoins, which means they won't actually fall that cheap. There is always someone else with "low" bid orders $20 above yours.

Everybody loves cheap bitcoins here because everyone here loves bitcoins! This is the bitcoin forum. You are going to get a disproportionately high amount of bitcoins lovers here.

evolve

hero member

Activity: 700

Merit: 500

daytrader/superhero

Quote from: chiropteran on April 15, 2013, 02:12:09 PM

Everyone is loving the idea of buying cheap bitcoins, which means they won't actually fall that cheap. There is always someone else with "low" bid orders $20 above yours.

Until investor confidence gets shaken.

If people no longer think they can sell for a higher price, they wont buy in. We are in a declining market now, and less people are going to be willing to buy in the further down this thing goes.

The coins that were "cheap" a week ago are now looking pretty expensive...

Brushan

member

Activity: 224

Merit: 10

For every day that goes after the correction it is looking more and more like it will behave like in 2011. Most probably bottom will be alot higher than 2011 but i think we'll see lower prices.

chiropteran

sr. member

Activity: 348

Merit: 250

I think the existence of these sorts of threads proves that there won't be a crash. Everyone is loving the idea of buying cheap bitcoins, which means they won't actually fall that cheap. There is always someone else with "low" bid orders $20 above yours.

evolve

hero member

Activity: 700

Merit: 500

daytrader/superhero

No, I am a bear because I believe the market is going downwards.

The term bear has nothing to do with "want". (don't feel bad, most of the true believers here don't know/understand that either, and frequently misuse the term.)

Quote

Definition of 'Bear'
An investor who believes that a particular security or market is headed downward. Bears attempt to profit from a decline in prices. Bears are generally pessimistic about the state of a given market.

http://www.investopedia.com/terms/b/bear.asp

So many investment terms are misused on this forum. Undecided

XXthetimeisnowXX

sr. member

Activity: 252

Merit: 250

a wolf in sheeps clothing. suckerfish

Quote from: evolve on April 15, 2013, 01:11:34 PM

Quote from: aurora on April 15, 2013, 11:56:29 AM

Personally , i never set bids for future crash. You never know how low it'll go.

That's why you set staggered buy orders all the way down...you don't know how low it will go or where it will settle, but you can lower your cost basis quite a bit and possibly profit on the bounce (or by holding mid to long term depending on your own investment strategy).

so your not a bear your a bounce. all you want is to make money off the bounce. a bear want it to go down and down and down. well you would spend alot of money on eventualy.000000000000000001 penny per bit. no bear is a true bear they are a bounce. they want to buy cheep coins and when they go UP they will profit. well. so. a bounce hugh. not a bear a bounce. Cool

ElectricMucus

legendary

Activity: 1666

Merit: 1057

Marketing manager - GO MP

I don't leave my orders in there for too long unless I know for certain it will be filled.
Right now I have no orders pending, although I own a few altcoins.

evolve

hero member

Activity: 700

Merit: 500

daytrader/superhero

Quote from: aurora on April 15, 2013, 11:56:29 AM

Personally , i never set bids for future crash. You never know how low it'll go.

That's why you set staggered buy orders all the way down...you don't know how low it will go or where it will settle, but you can lower your cost basis quite a bit and possibly profit on the bounce (or by holding mid to long term depending on your own investment strategy).

BitcoinAshley

sr. member

Activity: 448

Merit: 250

I always have low bid orders. Right now they're spread from $0.50 to $50 ;-) There have been enough flash crashes recently that it's worth having some fiat ready to catch the falling knife.

That being said, ain't no crash coming. We already crashed, and are due for a correction Cool

Topic: Low bid orders and preparing for a crash (again). (Read 2568 times)