My strategy for when Bitcoin price is going down

wasserman99

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Quote from: TheButterZone on September 04, 2014, 02:39:11 PM

Quote from: obocaman on September 04, 2014, 01:48:47 PM

Trend trading is no different than day trading it can always backfire in your face and you can lose a lot of money as a buy rally will happen randomly and it can catch you while you sleep. Thats like 8 hours minimum daily you are risking + more if you are not monitoring the market constantly.

https://play.google.com/store/apps/details?id=br.eti.fml.satoshi&hl=en Bitcoin Paranoid - set alerts for various thresholds of price movement, and let it wake you up when your device is plugged into its charger.

The price of bitcoin is very volatile. Unless you set the thresholds to be a large percentage from the current price, it would not be uncommon for your "alarm" to be set off several times per day. If you are woken up in the middle of the night the potential for profit could already be gone by the time you wake up and boot up your computer/laptop.

EDIT: also if you have a significant other I can say with a good amount of certainty that s/he will not like this idea.

TheButterZone

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RIP Mommy

Quote from: obocaman on September 04, 2014, 01:48:47 PM

Trend trading is no different than day trading it can always backfire in your face and you can lose a lot of money as a buy rally will happen randomly and it can catch you while you sleep. Thats like 8 hours minimum daily you are risking + more if you are not monitoring the market constantly.

https://play.google.com/store/apps/details?id=br.eti.fml.satoshi&hl=en Bitcoin Paranoid - set alerts for various thresholds of price movement, and let it wake you up when your device is plugged into its charger.

counter

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Time is on our side, yes it is!

The is very intelligent if you ask me. We've been is similar situations before and this is nothing new. People think the price is too low and Bitcoin is doomed... This happens time and time again and bitcoin recovers. For that is enough reason to just hold and buy on the dips what you can afford to lose.

obocaman

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Trend trading is no different than day trading it can always backfire in your face and you can lose a lot of money as a buy rally will happen randomly and it can catch you while you sleep. Thats like 8 hours minimum daily you are risking + more if you are not monitoring the market constantly.

dadugan

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Quote from: BitcoinBadger on September 04, 2014, 11:55:31 AM

Quote from: epere on August 19, 2014, 12:00:16 AM

I just keep buying from the weak hands and welcome the price drop. this is a gift at these and possibly lower levels. I would have never thought that btc would be $450 in August 2014 though Sad

That's the good strategy loose holders sell the coins quick,it's always a profit buying from them directly

If the strategy stop working, he will lose a lot of money.

Trend trading is cheaper and more effective.

BitcoinBadger

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Quote from: epere on August 19, 2014, 12:00:16 AM

I just keep buying from the weak hands and welcome the price drop. this is a gift at these and possibly lower levels. I would have never thought that btc would be $450 in August 2014 though Sad

That's the good strategy loose holders sell the coins quick,it's always a profit buying from them directly

jjacob

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Quote from: bomb177 on September 01, 2014, 09:27:30 AM

Quote from: scryptasicminer on August 31, 2014, 03:29:36 PM

Quote from: oceans on August 31, 2014, 02:28:33 PM

I like your strategy. With anything it's always wise to buy to make a profit so if you can buy bitcoins when the price is low and sell when the price goes up again you are in actual fact making a profit which is one way to help you invest more.

Not many have the discipline to carry out the strategy.

Most people buy when the price is high and hoping for new high. And then they sell when the price is low to cut their loss.

This is typical of the newbies trying to enter in the trade game, but they always lose part of their capital in this way.

Buy and forget for a year. Try not to look at the price fluctuations (easier said than done)

SF-Man

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Quote from: Yzmo on August 19, 2014, 07:02:46 AM

Quote from: MightyBTC on August 19, 2014, 06:44:22 AM

BTC will recover, its pretty stable in my opinion. Just wait for a week more.

BTC is not stable... 22% in only 1 week :/

Agree, I am a newbie but Ive already seen bitcoin dove twice in a month. And not by $5 or $10. Dove down up to $30. Its ok to say that bitcoin is not stable currency but still it has a lot of potential and a lot space to develop more.

bomb177

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Quote from: scryptasicminer on August 31, 2014, 03:29:36 PM

Quote from: oceans on August 31, 2014, 02:28:33 PM

I like your strategy. With anything it's always wise to buy to make a profit so if you can buy bitcoins when the price is low and sell when the price goes up again you are in actual fact making a profit which is one way to help you invest more.

Not many have the discipline to carry out the strategy.

Most people buy when the price is high and hoping for new high. And then they sell when the price is low to cut their loss.

This is typical of the newbies trying to enter in the trade game, but they always lose part of their capital in this way.

dE_logics

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Quote from: iCredit on August 19, 2014, 09:11:54 AM

Quote from: BitsBitsBits on August 19, 2014, 07:13:36 AM

Quote from: Yzmo on August 19, 2014, 07:02:46 AM

Quote from: MightyBTC on August 19, 2014, 06:44:22 AM

BTC will recover, its pretty stable in my opinion. Just wait for a week more.

BTC is not stable... 22% in only 1 week :/

That's not much really, prices will hold from 400$-800$ for a couple more months until the next boom. Mark my words.

I don't know when it will exactly, but my prediction for december 2014 is over 1500$.

December i think is too quick for $1500 raise. Looking at the stats of past few months I think would be $1k :-?
Anyways, it is profitable for all the investors Tongue

https://bitcointalksearch.org/topic/bitcoin-prediction-based-on-yearly-charts-high-resolution-745710

hustler100

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In Crypto We Trust

Quote from: scryptasicminer on August 31, 2014, 03:29:36 PM

Quote from: oceans on August 31, 2014, 02:28:33 PM

I like your strategy. With anything it's always wise to buy to make a profit so if you can buy bitcoins when the price is low and sell when the price goes up again you are in actual fact making a profit which is one way to help you invest more.

Not many have the discipline to carry out the strategy.

Most people buy when the price is high and hoping for new high. And then they sell when the price is low to cut their loss.

That's why people should see Bitcoin as a long term investment and comparing it to any traditional fiat currency which probably in the next finincial crisis will blow up....
The psychology of an "inexperienced investor" is like you mentioned so called "weak hands".

scryptasicminer

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Quote from: oceans on August 31, 2014, 02:28:33 PM

I like your strategy. With anything it's always wise to buy to make a profit so if you can buy bitcoins when the price is low and sell when the price goes up again you are in actual fact making a profit which is one way to help you invest more.

Not many have the discipline to carry out the strategy.

Most people buy when the price is high and hoping for new high. And then they sell when the price is low to cut their loss.

oceans

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I like your strategy. With anything it's always wise to buy to make a profit so if you can buy bitcoins when the price is low and sell when the price goes up again you are in actual fact making a profit which is one way to help you invest more.

jjacob

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Quote from: DhaniBoy on August 30, 2014, 07:33:08 PM

I will not sell my bitcoin, I will wait until prices return to normal bitcoin, maybe a week, a month or a year, but its regular price of bitcoin will be back to normal within a week, hopefully bitcoin prices will not go down in the next few months ... Roll Eyes

What do you think 'normal' bitcoin prices are?

Gargulan

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Quote from: epere on August 19, 2014, 12:00:16 AM

I just keep buying from the weak hands and welcome the price drop. this is a gift at these and possibly lower levels. I would have never thought that btc would be $450 in August 2014 though Sad

Buy low sell high is the motto. Here is the fact:

A strong base and resistance at 500. So buying at around this price will have low to moderate risk.

If the price drop below 450, sell to limit downside exposure. If it go up to 550, sell to cash in profit. And wait for another downtrend.

DhaniBoy

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I will not sell my bitcoin, I will wait until prices return to normal bitcoin, maybe a week, a month or a year, but its regular price of bitcoin will be back to normal within a week, hopefully bitcoin prices will not go down in the next few months ... Roll Eyes

Coinfan

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Yes, people said that too, when the price went for the second time below 1000 on the 5th december 2013.

Foxxyfox

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Quote from: Coinfan on August 25, 2014, 05:02:23 PM

The Op said the market surprised him with the current price, I wonder if he isn't going to be surprised negatively again.

Avoid buying on a bearish trend until there are signs of reversal.

it is not that surprising it is not the first time bitcoin went down and then back up

Coinfan

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The Op said the market surprised him with the current price, I wonder if he isn't going to be surprised negatively again.

Avoid buying on a bearish trend until there are signs of reversal.

soccosocco

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My strategy when bitcoin is Keep hold down and wait
while hoping bitcoin prices rise and let the whales worked Grin

but when it fell continuously until the $400 I do not know what keeps hold or sell

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