Quote from: traderCJ on December 06, 2013, 06:33:32 AM

Quote from: piramida on December 06, 2013, 06:21:07 AM

Quote from: MatTheCat on December 06, 2013, 04:16:15 AM

I have now entered at top of market and done quite well, although am losing now and selling at lower prices than I paid to limit damage.

Oh man I considered you to be smarter than that. You just never sell bitcoin cheaper than you bought it, because every dip is a temporary retrace. Your panic mode for bitcoin should mean "stop buying" and then when you think it stopped falling you start buying again. Any other way - and you are just robbing yourself. Can't stop you, of course, but sad to see.

He is precisely the sort of investor who feeds whales :/

Added to the list of examples of how not to do it.

-MatTheCat (this thread)
-joburgtaxi (https://bitcointalk.org/index.php?topic=358584.0)

First they buy, then price drops, so they sell in order to 'limit damage'. Then when its going up again, and its 'proved' that it is now on an upward trajectory (after having climbed quite a way), they buy back in. This buy high sell low strategy is not a good way to make money.