Post
Topic
Board Speculation
Topic OP
I've ALSO Given Up
by
Bazil240
on 05/05/2014, 16:18:54 UTC
Ok, so if the winky face didn't give it away... I haven't really given up... but hey, maybe it got you here.

Here is what I have done:

  • Bought ~8 coins in the last few months, average cost of ~$570.

  • I've now sold those at ~$430. So yes, I have cemented about a $1100 loss.


Here is what I will do:

  • If it goes to $500, I will buy back my 8 coins.

  • I will buy back in at $300 +/- $50; the goal being roughly 12 coins.


Cementing the loss sucks, sure, but I have a hard time believing this is going anywhere but down short term. Also, if it is not obvious by my average cost, I bought all these coins before the last dip to $340 and am currently at/over what I feel comfortable losing. Therefore, the common advice (at least given out on this forum) of "holding and buying more as we go down" is not an option for me.


More background, since this is my first post:

I am NOT a trader/investor at all. I have been trying to master the finance language the last few months, but I'm really just a mech. engineer who likes technology. I've lurked on here since February and have read everything on Bitcoin that I could find. I think Bitcoin (the technology) can be revolutionary (i.e. change the world). I think Bitcoin (the currency) can be a good investment (i.e. increase my wealth). That being said, I don't see the pointing in holding just for the sake of holding. The only other time I have invested it something similar to this, such as stocks, is when I bought Tesla stock when it first became public. I bought it for the same reasons I am buying (had bought) Bitcoin. However, at the time, I was a broke grad student and only managed to purchase a few shares.



My "TA" (in this case TA = trend analysis):

http://s29.postimg.org/ys1otdrw7/btctrend5514.png

Nothing new here, it just seems obvious to me that we are heading for another dip. The "dips" are decreasing in size/length, but a dip nonetheless seems destined.