stick to your trade.
no kidding, took me too long to learn that, so much better since I stopped making losing trades...lol
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 31928. (Read 26730700 times)
November 20, 2013, 12:39:59 PM
no kidding, took me too long to learn that, so much better since I stopped making losing trades...lol
November 20, 2013, 12:34:05 PM
Craaaaazy rollercoaster.
Don't forget to sell on the way up. Or the newbies cry after the next bubble pop.
Don't forget to sell on the way up. Or the newbies cry after the next bubble pop.
the next bubble to pop is America
LOL -> food stamp X bitcoin exchange! (coming soon!)
haaaa 
November 20, 2013, 12:32:50 PM
A bull is a person who does not hold fiat.
A bear is a person who holds at least some fiat and wants to return to BTC.
As you can see, I am now a bear. But almost everybody else are bulls. What this means is that you do not have the means to influence price to the upside. Only we do. But we are very few. Also the newbies do. But will they really buy in this kind of situation?
What about all the bulls that earn a paycheque in fiat?
If your income is in dollars or euros, etc., it seems reasonable to allocate (say) 20% of your long-term-savings money to BTC. This would add constant upwards price pressure. A lot of bitcoiners are young: their BTC holdings in absolute terms will rise, despite bitcoin becoming a smaller and smaller % of their net worth.
November 20, 2013, 12:32:00 PM
I believe BTC should be in the $150 range. There is nothing to support any higher of a price.
What makes you say that?
Because at this point there are a lot of exciting projects in the works for BTC. Key word in the works. One ATM and a letter from Bernake saying BTC is legit and we can't really regulate it doesn't make it worth $600. I am willing to place a value on the speculation of what could happen but until it does it's not.
Look at it this way; If I asked you to invest in my company that had some great projects in the works that will make us billions would you give me a billion dollar valuation right away or would you want to come in at a more sensible valuation because we are so early on? You're not going to make an investment based on what it could be, you will invest on what it is.
How about if that company had developed a universal cure for cancer with apparently no side effects and just had to go through FDA approval and marketing?
I agree. Saying its "In the works" does not mean it shouldnt count.
Also, down we go?
November 20, 2013, 12:30:32 PM
I believe BTC should be in the $150 range. There is nothing to support any higher of a price.
What makes you say that?
Because at this point there are a lot of exciting projects in the works for BTC. Key word in the works. One ATM and a letter from Bernake saying BTC is legit and we can't really regulate it doesn't make it worth $600. I am willing to place a value on the speculation of what could happen but until it does it's not.
Look at it this way; If I asked you to invest in my company that had some great projects in the works that will make us billions would you give me a billion dollar valuation right away or would you want to come in at a more sensible valuation because we are so early on? You're not going to make an investment based on what it could be, you will invest on what it is.
How about if that company had developed a universal cure for cancer with apparently no side effects and just had to go through FDA approval and marketing?
November 20, 2013, 12:29:35 PM
A bull is a person who does not hold fiat.
A bear is a person who holds at least some fiat and wants to return to BTC.
As you can see, I am now a bear. But almost everybody else are bulls. What this means is that you do not have the means to influence price to the upside. Only we do. But we are very few. Also the newbies do. But will they really buy in this kind of situation?
A bear is a person who holds at least some fiat and wants to return to BTC.
As you can see, I am now a bear. But almost everybody else are bulls. What this means is that you do not have the means to influence price to the upside. Only we do. But we are very few. Also the newbies do. But will they really buy in this kind of situation?
Everyone else are bulls? The bears are all over this forum today predicting their doom and gloom, even Blitz turned bear and is preaching 2011 all over again.
~~~i'm a /\sharky i will devour anything in my path!
chomp chomp November 20, 2013, 12:28:26 PM
China doesn't like this rise.
Theyre still almost $700.. lol
November 20, 2013, 12:28:16 PM
Exchanges are obsolete. They're just trading on inertia.
Care to explain?All you need is Bitcoin
November 20, 2013, 12:27:27 PM
China doesn't like this rise.
China is the cause of this rise!
look they are trying to bottom
November 20, 2013, 12:25:52 PM
China doesn't like this rise.
November 20, 2013, 12:25:31 PM
This bull trap? is lasting longer than I thought. I dont like it, im still in dirty fiat 
ya me too...
but #1 golden rule of trading, stick to your trade.
either way i make money so who cares.
November 20, 2013, 12:24:45 PM
so the exchanges are gradually finding prices that are closer to one another. This means the west having this rise, and China kind of staying put. It does make the china market look like it's having a nice healthy stay at what might be its 'bottom', contrasting the west's apparent premature rise . . .
November 20, 2013, 12:22:22 PM
+1
I, for one, gotta say thanks for this comment, Blitz. I'm new to this forum but really appreciate your comments here-- I know that I certainly have ridiculously risky appetite, despite a fairly good knowledge (for a non-pro trader) of position sizing and risk allocation. Do I properly size my positions, do I use a trailing stop, do I take profits appropriately, and cut losses every time? Certainly, I feel like these are my weakest areas. Finding BTC is probably the hard part. Now that I'm here, I should really exert those controls and be patient.
Do you have any more suggestions on/about BTC risk management? (excuse me, as I haven't read back through the last 20 pps)
Cheers!
If you want to be serious and have the time to dedicate, IMO it's the best thing to learn technical analysis. I've learnt a lot from waveaddict (whom I still subscribe to) and in the beginning S3052. Here is a good free source to start out: http://www.babypips.com/schoolI, for one, gotta say thanks for this comment, Blitz. I'm new to this forum but really appreciate your comments here-- I know that I certainly have ridiculously risky appetite, despite a fairly good knowledge (for a non-pro trader) of position sizing and risk allocation. Do I properly size my positions, do I use a trailing stop, do I take profits appropriately, and cut losses every time? Certainly, I feel like these are my weakest areas. Finding BTC is probably the hard part. Now that I'm here, I should really exert those controls and be patient.
Do you have any more suggestions on/about BTC risk management? (excuse me, as I haven't read back through the last 20 pps)
Cheers!
Otherwise, I would simply hold BTC if I really saw much potential left until a bubble happens and bursts, which is the optimal time to diversify. If things look good after a few months and it isn't in a severe downtrend, it is probably. In case you haven't bought yet but would like to do so, I agree the best one can to is dollar cost averaging. Allocate money you want in BTC and set an interval you regularly buy at.
If Bitcoin is to rule the world, both approaches will work very well.
Maybe this can help you too if you think you can quantify a few things: http://www.investopedia.com/terms/k/kellycriterion.asp
This does help-- thanks a bunch.
November 20, 2013, 12:20:28 PM
This bull trap? is lasting longer than I thought. I dont like it, im still in dirty fiat
ya me too...
but #1 golden rule of trading, stick to your trade.
either way i make money so who cares.
November 20, 2013, 12:19:51 PM
This bull trap? is lasting longer than I thought. I dont like it, im still in dirty fiat
Lol
One more 10k dump and its definitely going to pop. If no big dumps come then who the hell knows.
November 20, 2013, 12:19:10 PM
That was a huge amount of interest in Bitcoin on Reddit and Wiki yesterday compared to previous days/weeks.
http://www.reddit.com/r/bitcoin/about/traffic
There must be a lot of money 'in transit' to the exchanges.
I'm not so sure this bubble is ready for popping just yet..
What if they decide to wait out this crashcorrection, making it become a full bear market? http://www.reddit.com/r/bitcoin/about/traffic
There must be a lot of money 'in transit' to the exchanges.
I'm not so sure this bubble is ready for popping just yet..
November 20, 2013, 12:18:38 PM
This bull trap? is lasting longer than I thought. I dont like it, im still in dirty fiat
November 20, 2013, 12:17:32 PM
That was a huge amount of interest in Bitcoin on Reddit and Wiki yesterday compared to previous days/weeks.
http://www.reddit.com/r/bitcoin/about/traffic
There must be a lot of money 'in transit' to the exchanges.
I'm not so sure this bubble is ready for popping just yet..
http://www.reddit.com/r/bitcoin/about/traffic
There must be a lot of money 'in transit' to the exchanges.
I'm not so sure this bubble is ready for popping just yet..
November 20, 2013, 12:17:09 PM
I've used this analogy before;
Go to walmart explain Bitcoin to the employees and shoppers.
Report results.
Then tell them I know I told you to buy in at $800 and we are currently at $453 but it will be okay. This is a healthy correction.
Report results. ...... That is if your not hog tied in someone's garage with a shotgun to your head and some guy yelling "boy, you told me to buy this god damn internet money and you host me half my life savings"
Go to walmart explain Bitcoin to the employees and shoppers.
Report results.
Then tell them I know I told you to buy in at $800 and we are currently at $453 but it will be okay. This is a healthy correction.
Report results. ...... That is if your not hog tied in someone's garage with a shotgun to your head and some guy yelling "boy, you told me to buy this god damn internet money and you host me half my life savings"
Why the heck were you telling them to buy in at 800?
The kind of people who rush to buy when the price is skyrocketing are the kind of people who rush to sell when the price drops a little, accelerating the trend are the type of people who cry about it afterwards. All they do is feed the manipulators and contribute to crazy volatility. Screw em.
Cool heads, strong hands is what Bitcoin needs and what will get us to the "true" stable price.
November 20, 2013, 12:11:40 PM
Quote
...
And solve everything for 42... before you can call his wavefunction entangled?
Please pm me from time to time
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