Topic: PSA: Up your tolerance for volatility when the price surges (Read 989 times)
Happened just now!
No need to panic during those sell-offs and lose your coins.
ignore that! please panic sell everything you have... to me 
I'm not panicking at all. I will not sell...especially for fiat. I'm just waiting on the eventual correction to buy some more. Then just keep buying whenever I have capital left over each month based on trends. Though I must admit, I'm kind of addicted to watching this market now-a-days. Very exciting times despite all the economic gloom worldwide.
Very exciting times despite all the economic gloom worldwide. You can't have big price increases without big volatility, and that means some gut-wrenching mini-crashes will inevitably happen along the way. No need to panic during those sell-offs and lose your coins. Just put on your volatility flak jacket, strap yourself in and enjoy the ride!
amen!
I am a holder so I wholeheartedly agree. It is really hard not to get emotional though. The ride up is so much fun and when the price drops it is hard not to worry but for those of us that have managed to weather the storms we understand it is just part of the fun.
Also, I am not sure the market is going to operate exactly like it did last time. I think some people might panic when we reach close to the ATH but I would not be surprised if we go quite a bit past it and drop even less then the last panic sell-off.
Also, I am not sure the market is going to operate exactly like it did last time. I think some people might panic when we reach close to the ATH but I would not be surprised if we go quite a bit past it and drop even less then the last panic sell-off.
The best trading rule in bitcoin world - buy it and forget.
Then look at price a year after
Then look at price a year after
Yep. I wish I had learned this before I sold off 90% of my coins into the August 2012 mini-crash. I now have about half the bitcoins. Lesson learned.
The best trading rule in bitcoin world - buy it and forget.
Then look at price a year after
Then look at price a year after
The best way to hedge against your own emotions is to create a systematic, logical plan about how you go about buying and selling. Using hard-fast rules or numbers. Some people like moving averages, some people like oscillators or other indicators. Even if your criteria does not put yourself above others (it can be as simple as "hold and never ever sell), it will put your performance above the performance you'd get relying on the limits of your own tolerance for volatility. Remove your strategy from yourself.
yup, its up to us what we want more: to gamble to have more bitcoins that are worth less overall (like when we will panic sell) or to have the same amount of bitcoin than before but way more valuable when we will just hold.
You can't have big price increases without big volatility, and that means some gut-wrenching mini-crashes will inevitably happen along the way. No need to panic during those sell-offs and lose your coins. Just put on your volatility flak jacket, strap yourself in and enjoy the ride!
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