Quote from: BitcoinPanther on January 18, 2017, 06:20:41 PM

Quote from: deisik on January 18, 2017, 10:00:50 AM

Quote from: 1Referee on January 16, 2017, 04:00:01 PM

Quote from: deisik on January 14, 2017, 04:10:06 PM

In fact, the smarter people here (at least, so they were presenting themselves) had been expecting the dump at first at around 800 dollars per coin when Bitcoin just started to climb, then it was 900 when Bitcoin didn't even stop at 800 (though they were less vocal after it hadn't crashed), which later became 1,000 dollars. Some even tried to outsmart the market by going short at that price tag only to lose massive amounts of money at the end of the day. Or were they really noobs, all these guys expecting a dump at every round number?

Or, rather, not particularly different from the noobs you refer to

I must admit that I was one of these people expecting a correction to happen at $800-$900-$1000. Why? It would make sense since the price was going up way too fast. In that regard, people expecting a drop to happen at $800-$900-$1000 were wrong as the price peaked at over $1100. That's why it's always a smart thing to secure profits in small steps (5% per time in my case). That's exactly what I did. 5% at $800, then 5% at $900, and then 5% at $1000, and then 5% at $1100, which resulted in me almost cashing out at the top. Finally after going above the $1100 level, the price started to correct. So, even though my predictions turned out to be wrong several times, I managed to sell on the way up pretty well

Personally, I had some coins left since I was prepared that the price might potentially shoot higher, though I must admit it too that I started to feel a bit nervous seeing how my Bitcoin stash had been quickly diminishing. But unlike you and other guys who were expecting correction at these levels, I didn't feel anything such (I mean a gut feeling that it's the right time for a correction to begin). How come? Because I've been there and seen that many times to discard such expectations and feelings altogether. Whether the price starts to rapidly grow or it departs on a fast spiral-down, you will be almost always proven wrong at your prediction of where it will top or bottom...

This is the way the market takes the money from the ones who think they are smarter than the market itself and know better

At least they have confident in their decision not all the sheep that sells out during the fall of Bitcoin price these past days. The market is proven that every steep incline in price follows a certain fallback. Some consider it a correction which is probably true because the market cannot sustain that price for a long time. So when the next time we see Bitcoin surging up too fast, we might see a great fall in price next and that would be the best time to buy BTC

They are not confident, they are delusional (most of the time)

And trading is probably the best yardstick to measure the true level of competence and expertise versus arrogance and egotism of anyone. The market is merciless, and it doesn't give a fuck about how good you may think of yourself and how high you may praise your intelligence. You can meet such people on the streets, you can meet them even here (I know a few such types myself), but you will never meet good traders among them. Simply because the market punishes these presumptuous dudes most severely, far more brutally than the panic selling sheep