Ninjastic
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Re: Any long term HODLers increasing the BTC stash by trading?
by
Herbert2020
on 05/07/2017, 06:20:25 UTC
Quote from: ngin-x on July 04, 2017, 05:21:26 AM
Quote from: Herbert2020 on July 03, 2017, 05:47:22 AM
Quote from: lukaexpl on July 02, 2017, 07:36:08 AM
.. the worm of greed is always digging in the back of my mind. Could I increase BTC if I sold BTC for some fiat or Tether before correction and add more BTC when the correction ends.

i have tried trading bitcoin but i never like the exchanges and the risk of them. however i always make sure to do this (meaning to sell on top and buy the correction) when i am almost certain about a correction on the way. for example when the price reached the $2900+ i was nearly certain that if it can't break the $3000 it will drop and it happened.
or when the bitfinex hack happened or lots of other big FUD, these have always been good points to sell some small number of coins to buy them back in a couple of days to hold more coins in the end. and it has worked good so far for me.
my suggestion is do the same as me and make sure to not do it with all your stash. just dedicate some small portion that you are willing to lose and trade with that. exchanges can run away at any moment!

Dude I don't care what you say but nobody could have predicted with certainty that Bitcoin would halt just below $3000. It could have just as easily shot straight to $4000. If you did predict, you got lucky. Could you have predicted that Ethereum would rise from $12 to $400 in one massive bull run?

Many people predicted that Bitcoin would reverse the bull trend after reaching $2000 and sold all their position hoping to buy back below $1500. Well guess what? That never happened and they had to buy back at a higher price. I too sold all my BTC at $1600 and had to buy back at $2500.

The market is a dangerous place and this is why most traders lose money. Atleast my policy is to never sell at a loss, so I only lose out on potential gains by trying to time the market.

i didn't say i "predicted it" i said i was nearly certain.
i always say it is about chances in trading. when price was testing the $3000 resistance i decided the chances of a drop in case of failure to break it is higher. so i sold an affordable amount there to make some profit.

could i have been wrong? absolutely yes.
i was thinking the same around $2000 too but the resistance was broken easier and i help off. i was thinking the same all along and i missed the selling on a lot of occasions.

and even if was wrong and price went above $3000 i wouldn't have minded. i was still selling at a big profit and would have bought back what i sold at higher price to enjoy the rise. and as i said it is a "small portion of my stash" so even if i don't buy it back i still have more Wink