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Topic: Buying now or waiting a bit(coin)? - page 2. (Read 3636 times)

sr. member
Activity: 336
Merit: 250
November 28, 2013, 07:10:52 PM
#24
invested here for several years. Now is a good time to buy a small portion of what you wanted to invest, most probably it is going up. There is, however, a large chance of upcoming correction from somewhere around $2000 to somewhere around 300-1000, and that should be where you should buy the rest of the coins. It takes balls to catch a falling bitcoin though, it can be violent and scary, so you need to have money at exchanges and orders ready beforehand - manual would not do it.

Here is a question for you though: What if I only buy in-person? Is it possible to set something like a limit order (if not, is it possible if the person trusts you and you have done business with them before - has anybody ever done that)?
hero member
Activity: 714
Merit: 510
November 28, 2013, 04:59:34 PM
#23
You said you're pretty expert in trading.. therefore you should know that, whatever one of us can tell you, it would be purely speculations.. no one knows!
Moreover the timeframe matters a lot: which is your horizon? A few days investment? Weeks? Years? In the latter case, every moment is good..

I'm far from an expert, and even very good people have a very tough time getting the timing right.

Time frame: Good point, I should have mentioned it's long term. I don't care how long I have to hold, and I'm convinced it will either go to the sky or to 0. If it goes to the sky first, and then later to 0, that's bad for BC, but for my investment it's kind of ok too...

So I have the feeling you are right, almost every moment is good, untill it goes to 0, it will go up, up, up...

Buy as much as you can as soon as you have the money. Do not wait. Dollar cost averaging is not as efficient of a strategy.
legendary
Activity: 1904
Merit: 1002
November 28, 2013, 02:40:45 PM
#22
From my experience, ask yourself this: how much free time do you have and how much of that time are you willing to spend price checking and waiting for the "right" time to buy in?

After spending lots of time waiting I decided buy in a while ago and I can tell you it is a wonderful feeling to not have to keep checking for the right time to buy. Whether it goes up or down, you are only investing what you can afford to lose (right?) so you can simply sit back and enjoy the ride.

I think your approach is correct. Honestly, I stay in a cash position and buy in when I feel like trading - and then get out as quickly as possible. If there is a strong price drop, I will buy and hold. It's all good… having fun doing it.

So you're not going to hold until you buy the top?
full member
Activity: 160
Merit: 101
November 28, 2013, 01:59:19 PM
#21
From my experience, ask yourself this: how much free time do you have and how much of that time are you willing to spend price checking and waiting for the "right" time to buy in?

After spending lots of time waiting I decided buy in a while ago and I can tell you it is a wonderful feeling to not have to keep checking for the right time to buy.
This also applies when buying more BTC than one can afford to lose. A stress-free life is underrated.
member
Activity: 131
Merit: 10
November 28, 2013, 01:51:41 PM
#20
From my experience, ask yourself this: how much free time do you have and how much of that time are you willing to spend price checking and waiting for the "right" time to buy in?

After spending lots of time waiting I decided buy in a while ago and I can tell you it is a wonderful feeling to not have to keep checking for the right time to buy. Whether it goes up or down, you are only investing what you can afford to lose (right?) so you can simply sit back and enjoy the ride.

I think your approach is correct. Honestly, I stay in a cash position and buy in when I feel like trading - and then get out as quickly as possible. If there is a strong price drop, I will buy and hold. It's all good… having fun doing it.
legendary
Activity: 1652
Merit: 1265
November 28, 2013, 01:46:14 PM
#19
Simple approach
Buy a bit now, wait a week buy a bit, wait a week, etc.
Once you have some profit you can ease in more money because your more confident and you didn't buy in a local high.

Or the YOLO! approach
 - Go to the bank
 - Max out on a personal loan
 - Go ALL-IN in Bitcoin
 - Wait a month
 - Pull out your personal loan amount and pay back bank + keep profit
 - (alternative outcome) Bitcoin crashes and your the banks bitch or go to jail Tongue
member
Activity: 131
Merit: 10
November 28, 2013, 01:44:36 PM
#18
In the time it took me to make my last post, MtGox price dropped $75. What a crazy market… I love it Smiley
member
Activity: 131
Merit: 10
November 28, 2013, 01:40:47 PM
#17
Bitcoin is highly speculative, so you should be willing to lose all. Personally, I believe the current prices are too high and forward looking. Long term, I think the prices are very low.

I am day trading (wish I held my initial 30 bitcoin, but whatever… not the end of the world).

……. etc

Interesting game there with the spreads. It surprises me that this is even possible.

You should prepared for them to go to 0 anytime, agreed.

For how long have you been owning BCs? When do you think the price could come back a bit - this year, next year?

I got wind of Bitcoin in March 2013. I created an exchange by June (I'm a programmer and I work for a stock exchange) but it is not live due to the fact that it's hard to meet the regulatory requirements. I bought my first BTC on CampBX in June with $3k - 30 Bitcoins. I held all the way into Sept and then thought that maybe I should trade on the volatility - an unfortunate decision. Still, I am making money. I also funded my MtGox account with Bitcoin so I can trade on there as well (knowing full well if I want to cash out I have to take a slight loss from the MtGox to CampBX conversion).

I do think we will see a price drop soon ONLY if there is no new good news.

The big events I am waiting for are a company like Alibaba.com accepting Bitcoin or a dollar crash - either will send the price way high. Alibaba is a large China wholesale business. Lot's of US based small businesses buy products there and obviously there is a huge cost built into the currency conversion. If they were to accept Bitcoin it would offer great savings to businesses and Bitcoin would gain a lot more users (people who actually spend BTC).
newbie
Activity: 56
Merit: 0
November 28, 2013, 01:31:44 PM
#16
From my experience, ask yourself this: how much free time do you have and how much of that time are you willing to spend price checking and waiting for the "right" time to buy in?

After spending lots of time waiting I decided buy in a while ago and I can tell you it is a wonderful feeling to not have to keep checking for the right time to buy. Whether it goes up or down, you are only investing what you can afford to lose (right?) so you can simply sit back and enjoy the ride.
legendary
Activity: 1176
Merit: 1010
Borsche
November 28, 2013, 01:24:04 PM
#15
invested here for several years. Now is a good time to buy a small portion of what you wanted to invest, most probably it is going up. There is, however, a large chance of upcoming correction from somewhere around $2000 to somewhere around 300-1000, and that should be where you should buy the rest of the coins. It takes balls to catch a falling bitcoin though, it can be violent and scary, so you need to have money at exchanges and orders ready beforehand - manual would not do it.
legendary
Activity: 1904
Merit: 1002
November 28, 2013, 01:17:33 PM
#14
Dollar cost average

Bitcoin is wild, but you can always get a good price if you spread out your buys over a couple months.
sr. member
Activity: 336
Merit: 250
November 28, 2013, 12:59:33 PM
#13
Bitcoin is highly speculative, so you should be willing to lose all. Personally, I believe the current prices are too high and forward looking. Long term, I think the prices are very low.

I am day trading (wish I held my initial 30 bitcoin, but whatever… not the end of the world).

I have a CampBX and MtGox account. I trade on both. Most of my money is in CampBX (75%). What I do is watch the spread between Gox and BX… when the spread is very wide, I buy on CampBX and immediately list my BTC for what I think should be the correct price. Basically, for a long while there was a $20 spread. Now I am seeing $200 spreads… so, I allow a $100 spread as reasonable. This morning I bought 3.7 BTC at exactly $1000/BTC. MtGox was at $1200. So I am selling (waiting) on BX at $1099). I keep an eye on the market and will adjust my ask price if it seems reasonable.

I have to say - we all look smart with the prices going up and up…. I could easily be holding 3.7 BTC and the price could drop hundreds in a matter of seconds. In fact, this has happened and I held till the price came back. I believe in the long term BTC will go much higher so I am not too worried. And again… it is speculation. I won't be hurt if it goes to zero.

Interesting game there with the spreads. It surprises me that this is even possible.

You should prepared for them to go to 0 anytime, agreed.

For how long have you been owning BCs? When do you think the price could come back a bit - this year, next year?
member
Activity: 131
Merit: 10
November 28, 2013, 12:55:52 PM
#12
Bitcoin is highly speculative, so you should be willing to lose all. Personally, I believe the current prices are too high and forward looking. Long term, I think the prices are very low.

I am day trading (wish I held my initial 30 bitcoin, but whatever… not the end of the world).

I have a CampBX and MtGox account. I trade on both. Most of my money is in CampBX (75%). What I do is watch the spread between Gox and BX… when the spread is very wide, I buy on CampBX and immediately list my BTC for what I think should be the correct price. Basically, for a long while there was a $20 spread. Now I am seeing $200 spreads… so, I allow a $100 spread as reasonable. This morning I bought 3.7 BTC at exactly $1000/BTC. MtGox was at $1200. So I am selling (waiting) on BX at $1099). I keep an eye on the market and will adjust my ask price if it seems reasonable.

As for my MtGox buy/sell… prices drop very fast, so I wait those out and try to buy low. In and out as quickly as possible. When in doubt, I stay in a cash position on both exchanges.

I have to say - we all look smart with the prices going up and up…. I could easily be holding 3.7 BTC and the price could drop hundreds in a matter of seconds. In fact, this has happened and I held till the price came back. I believe in the long term BTC will go much higher so I am not too worried. And again… it is speculation. I won't be hurt if it goes to zero.
global moderator
Activity: 4018
Merit: 2728
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November 28, 2013, 11:28:27 AM
#11
I'd wait a few days before investing now, it's likely that the price may drop quite a bit like when it hit $900, but you never know.


What do you mean? It hit 1000$, I believe yesterday

BTC hit an all-time high of $900 a couple of weeks ago and people went crazy, then it plummeted in price to $450.
hero member
Activity: 490
Merit: 500
November 28, 2013, 11:06:29 AM
#10
Be patient, easier said than done

Scale in gradually if you can wait
Gb
newbie
Activity: 37
Merit: 0
November 28, 2013, 11:00:52 AM
#9
[...] I'm convinced it will either go to the sky or to 0.

Those are my thoughts exactly - it's just knowing when the sky is at its highest that is the key. Good luck!
sr. member
Activity: 336
Merit: 250
November 28, 2013, 10:58:13 AM
#8
I expected a drop at 1000, and it didn't. As we speak we are jumping again, mtgox past 1200. If you are going long, I advise to buy now about 20% of the total sum you are willing to invest.

Doing it in chunks is the best way, no doubt about it.
sr. member
Activity: 336
Merit: 250
November 28, 2013, 10:57:02 AM
#7
You said you're pretty expert in trading.. therefore you should know that, whatever one of us can tell you, it would be purely speculations.. no one knows!
Moreover the timeframe matters a lot: which is your horizon? A few days investment? Weeks? Years? In the latter case, every moment is good..

I'm far from an expert, and even very good people have a very tough time getting the timing right.

Time frame: Good point, I should have mentioned it's long term. I don't care how long I have to hold, and I'm convinced it will either go to the sky or to 0. If it goes to the sky first, and then later to 0, that's bad for BC, but for my investment it's kind of ok too...

So I have the feeling you are right, almost every moment is good, untill it goes to 0, it will go up, up, up...
member
Activity: 70
Merit: 10
November 28, 2013, 10:54:17 AM
#6
I expected a drop at 1000, and it didn't. As we speak we are jumping again, mtgox past 1200. If you are going long, I advise to buy now about 20% of the total sum you are willing to invest.
sr. member
Activity: 336
Merit: 250
November 28, 2013, 10:51:57 AM
#5
I'd wait a few days before investing now, it's likely that the price may drop quite a bit like when it hit $900, but you never know.


What do you mean? It hit 1000$, I believe yesterday.

Thanks, I will play around with a small amount of BC instead of with alt coins. It will be about 5% of the amount I own.

Once it goes up 1000% (if it does), I will sell 10% and thus take off the table what I put into it. That way I can't go below 0 (if I never invest again).
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