I'm trying a new strategy. I put in a sell order for $94 for a small piece of my holdings, and a buy at $85 for the same amount of money, less commissions. Hopefully, the sell will execute tonight or tomorrow. Then, I'm poised for the next 10% dip, when my outstanding buy order should automatically execute, even if Mt.Gox is unreachable. Then, I will have bought at $85 and sold at $94, just in the non-customary order. When the price gets back to normal, I will have increased my holdings by a few BTC.
If more people would do this, the price would be more stable, more investors would dare to join us, and that helps move us toward global acceptance. These flash crashes scare new investors away.
If more people would do this, the price would be more stable, more investors would dare to join us, and that helps move us toward global acceptance. These flash crashes scare new investors away.
isn't this exactly what I'm suggesting? Going short and profiting from the DDOS, even if you're not causing the DDOS yourself. Now, if you do this for enough BTC, you're making lost of $$$....
Is this what you meant to suggest? All I saw of your strategy was, "the only way to profit from this is by going short." I don't want to argue over terminology, but that doesn't sound like my strategy at all.
First of all, I'm not going short. I'm just converting 50% of my holdings into fiat, which still leaves me quite long. The flash crashes are too intermittent for my taste. I don't want to miss out on long, stead run ups, so I'm always keeping at least half of my investment in BTC.
The other part of my strategy is placing limit buy orders so that I will automatically buy during flash crashes. That way I don't have to worry about lags, DDoS, or AFK.
If that's what you meant, then we're kindred spirits, promoting price stability, and making money in the process!
