Quote from: BitchicksHusband on December 09, 2013, 09:42:46 AM

Quote from: TERA on December 09, 2013, 09:40:02 AM

Quote from: Nemo1024 on December 09, 2013, 08:55:39 AM

I got out at 880 and went all fiat.

Then, then after a few flush-crashes, I was ready to turn in for the night, and decided not to place a buy order at 550: probably the biggest mistake of this year.
Next morning: 650. Someone here write, that 650 is still a good price to get back in. Yeah, I still expect more down movement and place orders at 550-400
Next morning: 750. This time I small trade between 700 and 750, all the time expecting to flush-crash back down, and place staggered orders at 680-550.
Next morning: 850.

Nice pattern observation. I struggled with the exact same thing while I was I was expecting a second wave of capitulation.

Here is another pattern I struggled with on a slightly longer term scale:

First Night: btcchina is at a high of 7500CNY. It's previous high was 7000CNY so it might be breaking out and going to the moon. I'll hold btc.
Next Morning: btcchina has corrected to 5800CNY. I guess I was wrong and there needed to be a second correction.

Second Night: (three nights later): btcchina is at a high 7000CNY. It looks like after a double correction, there will be a breakout after seeing a huge support. I am going to hold btc.
Next Morning: btcchina has seen an epic crash to 4500CNY. There's no way I could have predicted bad news.

Third Night: btcchina is at a high of 6300CNY. That was a very nice recovery. It must have been news induced panic. The bubble cant possible pop at this point in the chart anyway. After a third correction btc and showing immense suppport btc is going to emerge like a phoenix to break out to the next leg up. I am going to hold btc.
Next Morning: btcchina went down further to 3800CNY causing all markets to have a giant capitulation crash. This is horrible. At least I am able to trade my way out of the loss with the big waves (and I did).

Fourth Night (tonight): btcchina is at a high of 5450CNY. Suddenly volume has picked up and there has been an epic recovery. I wonder what this means? I'm not sure. Is it going to the moon now? Now which position should I go to sleep in?

Ask JayB. He's got all the answers. And he's 100% certain which was it's going to go and when you should get out of your trades.

lolol +1