Quote from: joburgtaxi on December 05, 2013, 01:07:41 PM

Am glad that things have unfolded as they have today, has given me an opportunity to test my "Exit plan". Getting coins to the exchange (taking into account confirmation time), making sure that my trading limits are sufficient etc.

The fact that you would consider a 10% dip in Bitcoin's price warranting of an "exit drill" is silly. Are you new here? This is a weekly occurrence...

If the price shoots up, perhaps that is a sign to sell (if the market dept and other indicators point to this), before buying back at a lower level. Most people who try this lose money, and would be better off holding on to their Bitcoins.

But why the hell would you sell if the price dips? That's a buying opportunity. Bitcoin is volatile, and people without balls who think they can "trade" their way to riches end up losing money.

(This goes without mentioning trade lag.) I bought and forgot, my friend bought, traded, and sold. Guess who did better?