Topic: Need help trading, suffered big loss! (Read 2071 times)
Lesson learned. Do not listen to anyone's prediction. There is no such thing as predicting the price, just guessing.
Is it expected to come below 280 anytime in upcoming quarter ?
No it is not. Doesn't seem like a bubble now. It was 206 a few weeks ago. Choose an exchange and set a limit order for whatever price you want, and wait.
Sometimes the price only touches for a second before it bounces back up. If you have your order set now, it's more likely to get filled on a downtick.
Your analysis needs to be deeper than this if you want to trade this market. Be aware that most traders will lose. If you are going to trade, keep in mind that for inexperienced traders, dollar-cost averaging is likely the best way to take advantage of market movements.
Is it expected to come below 280 anytime in upcoming quarter ?
No it is not. Doesn't seem like a bubble now. It was 206 a few weeks ago. Choose an exchange and set a limit order for whatever price you want, and wait.
Sometimes the price only touches for a second before it bounces back up. If you have your order set now, it's more likely to get filled on a downtick.
Is it expected to come below 280 anytime in upcoming quarter ?
No it is not. Doesn't seem like a bubble now.
ok
Is it expected to come below 280 anytime in upcoming quarter ?
buying it at $290-$310 still a good period
Man buys Flat with 4 year old stash of Bitcoins
http://news.sky.com/story/1161340/bitcoin-man-buys-flat-with-forgotten-fortune
Yeah, people gotta stop thinking in terms of Bitcoins but instead in terms of Satoshis.
1 Bticoin is 100,000,000 Satoshis.
In the end, every day folk will be spending Satoshis (The name sake of the Bitcoin Inventor), not Bitcoins.
Only the Elites will trade whole Bitcoins.
Maybe once 1000 bilion flows into the market.
Why would you listen to trollbox dood?
Just hold bitcoin long term, and you will make a profit. I bought back in late 2011 and have mined since then, never sold or panic.
Just hold bitcoin long term, and you will make a profit. I bought back in late 2011 and have mined since then, never sold or panic.
Hello, I started trading yesterday, I purchased 1 bitcoin from localbitcoins @ $325 and sent it to btc-e, I was waiting for an increase in market capitalization, given that the bitcoin went so high this last week, and I was expecting to sell my bitcoin @ $400+.
Today the price started to fall, and some users on the btc-e chat started mentioning that the bitcoin was going to crash to about $100, in panic I sold my bitcoin @ $275.
I don't have a lot experience trading, how can I know with a minimal amount of conviction in which direction the price is going to move in short and long timescales, can anyone show me the way not to make such a stupid trade again?
Today the price started to fall, and some users on the btc-e chat started mentioning that the bitcoin was going to crash to about $100, in panic I sold my bitcoin @ $275.
I don't have a lot experience trading, how can I know with a minimal amount of conviction in which direction the price is going to move in short and long timescales, can anyone show me the way not to make such a stupid trade again?
hopefully 100 USD agian
buying it at $290-$310 still a good period
Man buys Flat with 4 year old stash of Bitcoins
http://news.sky.com/story/1161340/bitcoin-man-buys-flat-with-forgotten-fortune
Yeah, people gotta stop thinking in terms of Bitcoins but instead in terms of Satoshis.
1 Bticoin is 100,000,000 Satoshis.
In the end, every day folk will be spending Satoshis (The name sake of the Bitcoin Inventor), not Bitcoins.
Only the Elites will trade whole Bitcoins.
buying it at $290-$310 still a good period
Eventually bitcoin mining will cease (run out) and there value will skyrocket as difficulty increases. With the upcoming mining rigs taughting >1.2TH/s, I don't think the price will fall too much. I would hold on to them for about 6 months, sell 50% to be safe, then hold the rest for an additional 12 months. This way you always have your finger in the pot and never cash out while at the same time retaining the ability to profit.
Never panic sell. If you can't trade, then buy and hold.
Buy and hold, trading is madness, nobody can call the vol right consistently
Unlikely that we will even see sub-$200 again
Unlikely that we will even see sub-$200 again
Unlikely...? Quite possible I would say. Keep this in mind and you shouldn't get hurt too much. Reasons? A technical hitch. Whole system breakup... Leading to total lack of trust in Crypto currencies. A super hacker wanting fame and notoriety "I broke Bitcoin!". Governments feeling threatened that Dollar and Co are starting to take a sideline. Loss of legitimate taxes.. The list is endless! All I'm saying is have fun and "dabble" but don't get too involved. Here $40 there $10... Lose $27... Gain $106... But don't put you life savings in.
Buy and hold, trading is madness, nobody can call the vol right consistently
Unlikely that we will even see sub-$200 again
Unlikely that we will even see sub-$200 again
Well I wouldn't say you took a big loss! A big loss would be half or all. Reading charts takes a lot of practice and feel. I predicted 24hrs before last big drop that it would drop $100 > it did (BFL forum). If you want to learn about charts google "incrediblecharts" there you will find basic and advanced stuff. Buy and hold with Bitcoin? No way... Too risky. It just takes something scary to completely spook the market... Could take years to recover. Investing in Apple and Google and Co maybe buy and hold. Get the idea? Direction of Bitcoin? Hitting resistance at 350$... Each time it then drops. I'm looking at getting in at 275$-285$ (Also not fixed). I missed my own boat last time....Only invest what you can afford to lose. Somebody said "Only the exchanges make money" this statement is incorrect. Savvy people who can judge the market... Short and long term make money. You can make money in a down trend trading shorterm. Buying on one exchange and selling on another in times of Volatility is somewhat dangerous and greedy. We are not dealing in $$'s here but a very risky volatile "Tulip Culture". Have a play get burned and learn... It's just like investing in a very speculative stock..... Nothing more. Hope this helps.
Now this is buy and hold...
http://www.washingtonpost.com/blogs/the-switch/wp/2013/11/09/the-11-million-in-bitcoins-the-winklevoss-brothers-bought-is-now-worth-32-million/
These are the guys who sued Facebook to get rich, if you don't already know that.
Quote
Winklevoss brothers did, in fact, hold onto their bitcoinss after April's crash. A source close to the Winklevii says the brothers now hold 1 percent of all Bitcoins in circulation, worth more than $40 million.
http://www.washingtonpost.com/blogs/the-switch/wp/2013/11/09/the-11-million-in-bitcoins-the-winklevoss-brothers-bought-is-now-worth-32-million/
These are the guys who sued Facebook to get rich, if you don't already know that.
Best advice:
Do not bet on one horse !
Always keep some of your budget open to buy more if it drops, this causes your average buying price to be lower, making it easier to sell with profit if it rises again.
And never invest more than you can afford to lose. Just be prepared to lose it all in the worst case.
Do not bet on one horse !
Always keep some of your budget open to buy more if it drops, this causes your average buying price to be lower, making it easier to sell with profit if it rises again.
And never invest more than you can afford to lose. Just be prepared to lose it all in the worst case.
Im in no way an expert in BTC investment as Ive been only doing it for about 4-5 months
but the way I look at it is if you wanted a "safer" and I use the term loosely.. I would buy the btc and hold it for the coming months/years..
if you want to multiply your BTC, best way I can think of atm is investing in a mining company.. The share price could easily multiply within weeks (depending on who you put your money with) or on the other hand it could be worth nothing if the company fails.
No one got rich being too safe
but the way I look at it is if you wanted a "safer" and I use the term loosely.. I would buy the btc and hold it for the coming months/years..
if you want to multiply your BTC, best way I can think of atm is investing in a mining company.. The share price could easily multiply within weeks (depending on who you put your money with) or on the other hand it could be worth nothing if the company fails.
No one got rich being too safe
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