Topic: What is your behaviour during a decline in the market? (Read 998 times)

Hold your bicoins, if you bought it in 500$, and it delcine to 200$, let it go.

set a remind in your phone with some app, don't watch the market again, when it goes to the point you set like 1000$, you can sell it.

I am just glad the price goes down so more miners don't join into the mining game and raise the difficulty levels...

I hope BTC falls to $200 so I can gather em up...

it depends on why it falls and your view on why it falls and how much confidence on your view 

They evolve, and even vary between exchange, regarding what parameters are the most positively-indicative of a change or movement. In particular, one thing I've found interesting is the Chinese traders, despite having 0% fees (or maybe because of it? so it doesn't distort the actual line with "candlewax"?) are much more strategic. Maybe it's just because they got in later, so Bitcoin still has a lot of accidental rich kids (rich, as in they have a few thousand USD worth of "play money" that came from their GPUs). Reading trends on Huobi is very different than Gox, with is the worst for candle fuzzing. Granted, sometimes the noise tells you things too, but it is irritating, especially on Gox.

FWIW on bitcoinwisdom, I use the KDJ with my own combo of parameters depending on these things and the timescale, 90% of the time. 10% will be the stochastic RSI. MACD is useless (to me). Likewise, CandlestickHLC is useless, an the line formats are nice only for looking at mean data, not realtime trades. OHLC shows the same thing as the traditional Japanese Candlestick, except Candles are better IMO. OHLC has the advantage of hiding the fuzz more, however... And, always EMA for me, at least 3 sometimes 4 for plotting. Loving the new line tools, too...

True story, Bitcoinwisdom has increased my trade efficiency 100x. Mainly for its resilience under stress. I had given up actively trading because the exchanges and/or charting sites always shit the bed during heavy trading, aka when you goddamn need them most.

Some interesting feedback. Of course objectively we all want more BTC to reap the potential future rewards.

I had missed out on so many near-taken opportunities to boost my BTC stake (which is only small ~2.5 BTC), mostly through leveraging via alts, but recently from shorts in declines.

Do you use Bitcoin Wisdom or similar? Are the standard parameters fine or are there some wonder parameters which fit the data a little differently to give good warning indicators.

I should really read up on patterns.

If the price drops I tend to buy more BTC - not much, doesn't require holding a lot of fiat either, the lower it goes the more I buy - I wouldn't want to pay $1000 + per BTC, I'm comfortable around the $800 mark for the time being 

During clear down markets I dump to fiat at probably 80%. (On exchange obv.)

I call the low a touch early to be safe, and buy back in halfway. So 40%, or 50% of what is on-exchange, which is how I'll reference it henceforth. When I confirm my low I buy in with the rest.

This requires multiple exchanges for liquidity for the amount of assets I manage, but it's necessary for my contracts, which involve "protection from adverse markets". I don't sleep much.

I keep buying. It's a no brainer.

So you're always holding some fiat, or do you sell some BTC to cash in on the short?

It's a great idea to remain at least a little liquid in these times, sucks watching a good deal fly by!

Even though I hold a few BTC I'm glad when the price dips as I am able to buy more BTC at a price I'm willing to pay 

In the past month or so we have seen a slew of bad press (and good press too, of course) and FUD which has caused prices to drop significantly. Of course there are always winners and losers when trading, aside from the exchanges that reap the transaction fees.

What was your behaviour during the Chinese exchange saga news last month?
Have you become more resilient and traded smarter during this current fall in price from the Taobao news?
Do you hit full fiat/split/or full crypto?

I'm fascinated to know what people do, I imagine that the smarter traders spot these things before most and cash out at a pretty decent high, while folk like me seem to panic a little, despite having held for so long lol.

So how do you react during a decline in the market?