Post
Topic
Board Bitcoin Discussion
Re: Today was an excellent opportunity for an "Exit Drill"
by
Shneebly
on 07/12/2013, 20:26:23 UTC
Woohooo

am back in with 1.5 more coins than I had before with out having to introduce new capital !!

Well done, man!

That flaming was indeed not justified. I think people just thought you were panicking.

The title of the post used the words "Exit Drill." Of course people thought it was a panic.

Congrats on winning this round (no sarcasm). But be careful-- I can point to a dozen other examples in which the price dipped by the same amount and then rebounded-- where you would have lost your Bitcoin.

Consider reading up on hindsight bias:
http://en.wikipedia.org/wiki/Hindsight_bias

As jzcjca00 pointed out, this investment strategy is horrible. The fact that one wins a slot machine on their first try does not change the fact that slot machines take more money than they give.