Quote from: NorbyTheGeek on December 06, 2013, 04:47:09 PM

Quote from: MatTheCat on December 06, 2013, 04:43:56 PM

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.

May I just say, thank fk I know better than to listens to nutters like you!

Yes sir, I will keep my money and am looking forward to owning much more btc than I had, at yet lower prices.

I think what he is saying is instead of buying at $1000, selling at $900, then rebuying at $800, you are better off to continue to hold those $1000 coins, and still buy at $800. That way, when the price returns to $1000+ you are more ahead than if you sold for a loss.

NorbyTheGreek gets it.

EDIT: Note that if you successfully sell at $900 and rebuy at $800, you would be better off than just holding what you bought at $1000 and buying more at $800. The reason for not selling at $900 is to hedge against the possibility that price doesn't make it to $800, and instead goes back up to over $1000. Buying back after this leads to a loss.