Quote from: penii plural 4 penis on August 29, 2014, 04:30:39 AM

Quote from: illyiller on August 29, 2014, 04:16:35 AM

Quote from: penii plural 4 penis on August 29, 2014, 04:01:14 AM

Quote from: illyiller on August 29, 2014, 03:58:03 AM

Patience is the most important virtue in this game. And the ones chasing after bubbles are the first to lose.

They are?

So I shouldn't have bought those coins @ $120 during the $266 bubble?

That's easy for you to say as someone who is in profit. Wink

"Chasing" in trading or investing means lagging behind the market and buying once the hype already happened. It's easy to preach HODL when you're golden. However, for those who began buying in 2014, bitcoin has performed horribly. And it was after the November 2013 bubble that 2014 was supposed to be the "year of bitcoin." Such hype, wow. Just keep in mind that this has been the longest bear market in bitcoin history. Surely it's even possible that bitcoin could return to the $100s or double digits, too, is it not? After all, bulls have been calling the bottom for many months now. In that case, it would have been prudent to take some profit off the table from those $120 coins. Wink

I was "chasing", per your definition, for the majority of last year at my $120-$200 buys during the $266 bubble.

But I saw the forest, not just the trees.

I watched the price drop back to $60 during the Silk Road bust.

I continued to see the forest, not just the trees.

I bought some more at $450-$585.

..and guess what? I still see that forest, not just the trees.

Okay, well, I hope it works out for you. My point, if you'll recall, was about risk management. And that is an important part of any investor's vocabulary. Ask Warren Buffet if he recommends "going down with the ship" as part of his investment plan. (Note: I'm not saying anything about the exchange rate with that comment -- only the attitude of many on this forum)

The longer term upward trajectory that bitcoin is on may continue endlessly. But this bear market -- the longest one ever -- threatens that as well. If you see the forest for the trees, then you would be open to the various possibilities. Perhaps your own bias as a HODLer clouds that.