Quote from: mmitech on December 19, 2013, 02:54:50 PM

but let me tell you about my first trade, long story short I managed to lose more than 30 BTC instantly on stupid moves..... but than I held to the rest of my bitcoins and it paid off, nowadays I do not daily trade, my last trade was a couple of days ago but before of that I was just holding ...

and I think this is what you should do as well, do not daily trade hold until you need the money really bad...

All very well if you got in at $100 or whatever, which I actually did, but sold at $340 just after a bit of a pullback in November. Regretting my decision right away with some degree of self-disgust, i then decided to get into Bitcoin proper (instead of paying LocalBitcoin premiums) and waited 10 days for a Bitstamp account, as Bitcoin took out ATH on a daily basis. To cut to the chase, I got in the game very late, and although I never knew when the top would come, I was under no delusion that buying to hold would be a wise game for me to play.

I had to trade to turn a profit.

Quote from: dg2010 on December 19, 2013, 03:41:55 PM

As I say, I'm right _today_, and I acknowledge the fact that I may be wrong tomorrow. I'm not trying to win a pissing contest and I don't feel smug.

My opinions are just my opinions, I don't offer them up as fact like most of the asshats on here. It seems to me you are more clued up than most, as you've already analyzed and admitted a bit emotionally hit from the loss. That being said I think you need to think about why you are trading in the first place, you've made £5k so far, that's profit. A small loss on the way up is to be expected, success isn't a straight line it's up, down left and right. The trick is to make more than you lose. You got spooked a bit yesterday and are all doom and gloom because you made a mistake. Had you timed your sell better you would most likely be here today telling us why it's a great time to be trading.

Also, it's a shame because there have been 5-6 instances today when you could have made those losses back and then some if only you didn't spook yourself and get overly negative about a little bump in the road.

Yeah cool....

I like your tone tbh. First time I replied to one of your posts, I mistook you for one the 'Bitcoin Nutters' who relentlessly troll anyone who suggests that the price might just go south and/or are spamming the message boards with inane Bitcoin to the moon drivel....which I find very distracting and aggravating when sometimes, the exact opposite is so patently obvious it just doesn't need explaining. The way I pounced on your posts, and indeed the posts of the endless hoards of Bitcoin nutters, is out of order, not least of all in the sense that getting emotionally involved in these sort of bun fights, results in a very bad trading mind set. Then again, being attacked for market forecasts that turned out accurate and resulted in me making money, or at least saving money, drives me fkn mental. If I listened to the mainstream of opinion on here, I would be about 60% or more underwater on 15K worth of principle that I have sitting in my Bitstamp account (this is half of all the capital I have). No laughing matter.

Now that I have calmed down, and am looking at the chart, I am sure that there will still be a bit of upside, but not enough to warrant the risks considering my low tolerance thershold for watching my capital go under water. From the chart, the recent crash and bounce is pretty much in harmony with what has went before. If we are to see a market reversal anytime soon, I suspect that the previous bottom will have to be tested once again, thus some excellent buying opportunities will present themselves once again whether the previous low is tested or actually broken right through, which is something I certainly would not rule out. With perhaps only the slightest hint of sour grapes over my recent poor trade, I am seeing nothing to suggest that it is all going to be upside from here and therefore, now to me just isn't a great buy in point.

If you have anything to say to that please do. I appreciate any kind of balanced and measured perspectives on the Bitcoin market...especially so from someone who just made a damn good call (you might be on a roll).