I see, so, a simple question, if we take into consideration the assumption that the price of BTC will continue to rise exponentially, what would be the best investment of my money per dollar, mining or long term trading?
I have a moderate computer, I have no way to compete with those beasts that mine @ 1000+ GH/s, but I do see many companies online renting their computer power to mine for bitcoins. If I were to invest let's say $400 today I would likely purchase a little over 1 bitcoin at current price, by investing that same amount on a mining service how many potential bitcoins could I get?
Topic: Need help trading, suffered big loss! - page 2. (Read 2071 times)
Ok, I understand what you're saying, crypto currencies are still very volatile and regular financial indicators cannot be trusted to measure market trends.
Perhaps I approched this topic in an incorrect manner, what I meant to inquiry about is this. It is a fact that many people are making hundreds of thousands or even millions of dollars by investing in these markets with insanely minimal amounts, and my question is, how are they making their money?
Yes, of course I do understand that many of them wait for market capitalization of the BTC or LTC markets and sell at a higher price assets that they purchased at a lower price, but surely this isn't all there is.
I've heard about people that during this last year have gone from a net amount of $100 to over $50.000 by dwelving into these markets. Obviously I'm oblivious to the specifics and to which manner they profit from it, but the fact is that they do, and I would like to know how could I take a piece of that pie.
Perhaps I approched this topic in an incorrect manner, what I meant to inquiry about is this. It is a fact that many people are making hundreds of thousands or even millions of dollars by investing in these markets with insanely minimal amounts, and my question is, how are they making their money?
Yes, of course I do understand that many of them wait for market capitalization of the BTC or LTC markets and sell at a higher price assets that they purchased at a lower price, but surely this isn't all there is.
I've heard about people that during this last year have gone from a net amount of $100 to over $50.000 by dwelving into these markets. Obviously I'm oblivious to the specifics and to which manner they profit from it, but the fact is that they do, and I would like to know how could I take a piece of that pie.
Hi, long time reader.. thought it was time to make an account
like you said, I would assume that when people have taken hundreds of dollars and turned them into 10s of thousand that they have just bought the BTC (ill use BTC in this example) very early in the year and have decided just to sit on it. There would be a very low percentage of people that would have made that kind of money trading the ups and downs of the market. In my view theres no real way to foresee the ups and downs and where the price of btc will go so its mostly just luck. Imagine in January if someone told you that BTC would be worth $400 by the end of the year, you would have laughed in their face haha
Ive also come to realise that here is a lot of people who like to "talk it up" so to speak when it comes to how much they've made so I don't beat myself up too badly about it
Just buy another and wait for it to be worth $1,000,000,000 MMMMWUUHAAHAHAHA
Maybe in a few lifetimes.
Just buy another and wait for it to be worth $1,000,000,000 MMMMWUUHAAHAHAHA
http://i41.tinypic.com/23ija6o.jpg
http://i41.tinypic.com/23ija6o.jpg
Ok, I understand what you're saying, crypto currencies are still very volatile and regular financial indicators cannot be trusted to measure market trends.
Perhaps I approched this topic in an incorrect manner, what I meant to inquiry about is this. It is a fact that many people are making hundreds of thousands or even millions of dollars by investing in these markets with insanely minimal amounts, and my question is, how are they making their money? ...
Perhaps I approched this topic in an incorrect manner, what I meant to inquiry about is this. It is a fact that many people are making hundreds of thousands or even millions of dollars by investing in these markets with insanely minimal amounts, and my question is, how are they making their money? ...
The people that have made "hundreds of thousands or even millions of dollars by investing in these markets with insanely minimal amounts" are doing just that. They are not trading, they are investing. They bought or mined BTC several years ago and they either used it to build businesses or they just sat on it.
As for the people that turned $100 into $50,000, you'll just have to ask them (assuming that they actually exist).
Ok, I understand what you're saying, crypto currencies are still very volatile and regular financial indicators cannot be trusted to measure market trends.
Perhaps I approched this topic in an incorrect manner, what I meant to inquiry about is this. It is a fact that many people are making hundreds of thousands or even millions of dollars by investing in these markets with insanely minimal amounts, and my question is, how are they making their money?
Yes, of course I do understand that many of them wait for market capitalization of the BTC or LTC markets and sell at a higher price assets that they purchased at a lower price, but surely this isn't all there is.
I've heard about people that during this last year have gone from a net amount of $100 to over $50.000 by dwelving into these markets. Obviously I'm oblivious to the specifics and to which manner they profit from it, but the fact is that they do, and I would like to know how could I take a piece of that pie.
Perhaps I approched this topic in an incorrect manner, what I meant to inquiry about is this. It is a fact that many people are making hundreds of thousands or even millions of dollars by investing in these markets with insanely minimal amounts, and my question is, how are they making their money?
Yes, of course I do understand that many of them wait for market capitalization of the BTC or LTC markets and sell at a higher price assets that they purchased at a lower price, but surely this isn't all there is.
I've heard about people that during this last year have gone from a net amount of $100 to over $50.000 by dwelving into these markets. Obviously I'm oblivious to the specifics and to which manner they profit from it, but the fact is that they do, and I would like to know how could I take a piece of that pie.
A good flawed tactic if possible when the price drops is to buy in again, lowering you average cost loss, but potentially raising your total loss.
FTFYTrading just to make your results appear better is a mistake. If you don't have a solid well-researched plan, then it is better to do nothing.
Look at the log chart I posted - how can you dispute that it wouldn't be a profitable tactic?
Bitcoin is not plan, it is what you are trading.
Anyway, what you wrote will work if the price always rises to new highs. That's fine, but a person should never have sold in the first place if that is really what they believe.
As for your chart, the problem with basing future actions on historical behavior in such a simplistic manner is that you are assuming that nothing has changed and nothing will change. That is a pretty naive assumption.
The thing is that I don't have any trading knowledge and experience and I would like to know how to learn to read financial indicators rather than be influence by some trolls panicking in the btc-e chat board.
Reading financial indicators won't help you with roller coasters.
A good flawed tactic if possible when the price drops is to buy in again, lowering you average cost loss, but potentially raising your total loss.
FTFY
Trading just to make your results appear better is a mistake. If you don't have a solid well-researched plan, then it is better to do nothing.
Look at the log chart I posted - how can you dispute that it wouldn't be a profitable tactic?
I also bought at around $340 and immediately afterwards the price plumetted but I didn't sell. I'm waiting for it to go back up and I'm thinking about buying more now that it is cheaper but I need to wait for the wire transfer next week 
A good flawed tactic if possible when the price drops is to buy in again, lowering you average cost loss, but potentially raising your total loss.
FTFY
Trading just to make your results appear better is a mistake. If you don't have a solid well-researched plan, then it is better to do nothing.
You did exactly what most people do: panic sell.
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?
no way it's going back to $100, unless something catastrophic happens. every time it has a big rally, it goes to heights it has never reached before.. and doesn't come back. this is at least based on historical trends. it would be unlikely that we will see it drop below $150ish again.
i think it's best to absorb as much info as possible. it's good to get someone else's perspective, but you have to first vette and agree with their reasoning before making a decision.
Dude, just trading 1 BTC isn't really called trading, It's just called selling.
NEVER, EVER listen to the BTC-e chat box. It's called a trollbox for a reason.
NEVER, EVER listen to the BTC-e chat box. It's called a trollbox for a reason.
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?
Take a look at this chart: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?
http://bitcoincharts.com/charts/mtgoxUSD#tgSzm1g10zm2g25zvzl
Had you bought and held at any point before three days ago and just held you would be in profit.
I have tried trading and it's too difficult to avoid acting on emotions.
Selling when it's obviously crashing like you did is not a bad idea - just make sure you buy in cheaper. Btc-e is ~$265 now so you could do that.
A good tactic if possible when the price drops is to buy in again, lowering you average cost.
Maybe you should just trade on paper instead of trading actual bitcoins. It will save you a lot money.
Oh, and all those people who you believe when they say they know what they are doing ... they also don't have clue, they are just pretending.
Oh, and all those people who you believe when they say they know what they are doing ... they also don't have clue, they are just pretending.
Yes, buy and hold. The diff will go up and with that, the price!
just buy and hold
That only works in a long term timeframe.
Also, why is it that the most successful traders own their success to a constant trade off of their assets?
A good comparisson for this are the betfair trading markets, the people making big money there are not the ones who purchase and hold, they are the ones who persistently trade their capital for a higher profit.
Are u joking? The richest man in the world Warren Buffet made his fortune from buy and hold.
The only people who make money from quick trades are the exchanges!
Besides, if you buy back now you already made 5 dollars.
Current price at BTCe is 270 USD.
Current price at BTCe is 270 USD.
Yes, I'm considering buying now, but it will still be a loss of $60 to the original price or purchase, do you think the price will stabilize @ the $300+ again or it has a tendency to drop again?
just buy and hold
That only works in a long term timeframe.
Also, why is it that the most successful traders own their success to a constant trade off of their assets?
A good comparisson for this are the betfair trading markets, the people making big money there are not the ones who purchase and hold, they are the ones who persistently trade their capital for a higher profit.
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