Quote from: Kramerc on February 07, 2014, 11:28:13 AM

Quote from: TERA on February 07, 2014, 11:24:22 AM

I also do that cowboy style trading where I try to catch the very bottoms and buy and sell all the waves, fan out incremental orders, etc. I did it an April and did it in November+December. But not now when all the longer technicals are upside down like this - then it becomes too risky, like I explained earlier.

But would it not work to do the other way around this time? Sell at resistance levels and then buy with discount at support? And if support fails, even better? Or do you consider the choo choo taking off for the moon being too much of a risk?

It's too difficult to identify these "resistance" and "support" levels during a serious downtrend. I thought support today was going to be 750 or 720 but it was 619 and now I have no idea where "resistance" is going to be. The levels are always likely to be lower than I expect or descend too fast for me to respond to and then I make a failed trade, losing fiat value. During a downtrend it is important to preserve fiat value rather than coin value and it will ultimately end up buying me more coins - as long as I reverse this strategy once the uptrend starts.