Hourly Chart: sold 1 unit at 7.718 btc

The inverse fisher transform triggered a sell signal, slightly  crossing below the +0.5 thresold, sold 1 unit at 7.718, waiting next buy signal probably tomorrow.

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16 thoughts on “Hourly Chart: sold 1 unit at 7.718 btc

  1. Thank you… btw I found this thread
    http://www.bitcoin.org/smf/index.php?topic=6019.0

    I bought bitcoin when it was $1.40 just before it had the downwards slope to 67 cents.. boy do I wish I had of dropped a couple of grand on it then and just forgot about it until it reached $8.60 or so … I was increasing my bitcoins by selling them and then buying them back cheaper… each time it triggered a whole bunch of panic selling (or seemed like it) and I’d end up with a few more bitcoins… when the market was going up I was trying to trade but only ended up increasing my mtgox USD slightly which when I went to buy BTC I realised how much wealth I had lost… I was always very pesmistic.. I sold at $1.50 because I though it would crash again soon… then I started buying back 5 BTC at a time and selling up.. it was going up to about $4 around the time of the ddos attacks and then went back down to around $3 … then it surged up ridiciously to around $8.80… that’s about the time I actually decided to mine some myself for a change. First I tried using a 5770 but that wasn’t fast enough so I bought a new 650w PSU and a 6950 and left it churning on deepbit for about 4 days and made a little over 5 BTC… the next morning there was a blowoff and I thought shit this is gonna be the big correction and the next downwards trend so I sold for about $6.80… unfortunately it’s got up since then so I must have sold at a bad time… it makes me wonder what the trend is now though.. are we going to see it rise up towards $10 or are we seeing a slow decline back to below $1? whereby its time to drop as much fiat money on it as you possibly can

    1. Dear Chris, it’s hard to do a forecast, it is more profitable to follow what happens and most of the time our psychological barriers force us to do the opposite of what should be done:) this is why on real markets 98-99% of investors lose money.
      I recommend costs averaging, buy now 50% of what you have in mind to invest and the other half after a correction, if it doesnt correct you are still in with something and not just a the window looking the train going away without you.
      Watch out for investors sentiment. more cries for a dowmove more likely we are going higher:)
      cheers

  2. Just then I very stupidly and absent mindlessly bought about 12 BTC for 8.45.. and that looks like the glass ceiling that no one wants to go above.. but in the past the glass ceiling gets shattered while you sleep.. at first I put my sell order in at $8.80 hoping to get out with a small profit… then I thought screw it and put my sell order in at $9.10 then my next buy order in at 7.8…

    Have you tried the trick where you put in a massive number for your sell order? e.g. you have 100 BTC but you put in a sell order for 1000 BTC then you put in another 1000 BTC order at a lower price point… something you see the graph go up and down within a set range e.g. between 80 and 90 cents or something like that… what happens is that you can go away and if your orders get triggered you make a small amount of each trade but you aren’t physically sitting there… the downside of course is that if it moves outside that range (and doesn’t return) you will likely lose out so you have to watch it… the other thing is that flat markets are really good for options trading because you need all the leverage you can get plus there is little risk

    1. Well, actually I didn’t tried yet that kind of strategy, basically you are talking about some sort of spread trading, could be risky if a guy with 10,000 btc ruins your game while you are at the bathroom:) but with a reserve large enough eventually that trick can work.
      Due to the illiquid nature of this market for now i go on with 100-200 btc for short term trading opportunities using slow time frames (1h or 2h hour chart).

  3. yeah it was for me as I was messing about with these “spread trades” if thats what they are called when the market started to rocket out of orbit but it could be just the thing with we end up with a flat market for a while.

    What do you think has happened now? do you think the trend is still up or its just gone triangle?

    1. Trend it’s up, but of course we need to see a new max this week otherwise we are probabling going sideway.
      I’ve noticed that in the last few days the network speed dropped a bit, probably we need higher prices to attract new miners , aniway i think it is healthy to lose uninteressed miners. I would be much more worried if the network starts to shrink consistently showing a lack of interest by the majority of miners, difficulty will probably drop allowing more bitcoins to be generated that can flood the market pushing prices down. Let’s see how it develops over the next few weeks.

  4. Enky: also what about when it goes down if you actually sell you can buy back more BTC when the price goes even lower. I think it might still be on an up trend at the moment.. each low is higher than the last low but people are nervous about pushing it higher than the last blow out

  5. What would you do if had over 100 thousand BTC say you started off near the beginning when you could mine with a CPU and do a block every hour.
    I’m thinking I would put in small amounts of it as large sell orders and still have a day job. e.g. every now and again I would sell off about 500 BTC when I needed to say pay off a credit card but when the market was so I would max out all my cards buying more BTC… you still have a bank account but most of your wealth is in your wallet.dat file and you only sell what you need to survive and thrive so that you don’t get a hefty tax bill

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