No, I am not a whale. And I do not have some insider info. It just seems right now community is lacking optimism because of bitfinex hack and horrible price crash. And it is true that small volume gives ability to manipulate price. But this manipulation is harder everyday.
What I actually feel is fear. But bear with me. Times when I felt fear just the opposite happened (price jumped up) and times when I felt strong euphoria - price crashed down. But traders ignore feelings, right?
I'd say wait for 3-4 days and we will see where we land. Right now it's fear clusterfuck.
What I actually feel is fear. But bear with me. Times when I felt fear just the opposite happened (price jumped up) and times when I felt strong euphoria - price crashed down. But traders ignore feelings, right?
I'd say wait for 3-4 days and we will see where we land. Right now it's fear clusterfuck.
Based on your own feelings (described as fear at this point), it seems that you are attempting to mock some common points of wisdom, specifically to attempt to not become too emotional regarding either your investment or your investment choices.
Do you really believe that advice, regarding keeping emotions out of your trades to be bad advice?
Yes, I will concede that humans have emotions, and even if you program some bot trading, you are still emotionally attached to your investment in some degree, otherwise you would not have spent time considering it and making such investments.
I doubt that anyone is really suggesting that you should be a bot or have no human emotions in respect to your investment, but over time, you should be able to establish systems (whether it is buy/ HODLing or trading) in which you have a general plan for no matter which direction the market goes. Maybe you do not know every single specific of your plan because sometimes the plan may be that you need to review your plan and to reconsider your plan at various points and upon the triggering of certain events.
Anyhow, part of my point is that you can establish ways to attempt to minimize emotions..
I only use myself as an example because I am able to talk about my own situation, and surely from time to time, I feel emotions when the price moves against me and when it is very volatile, because a person cannot really know when it is going to stop in one direction or another, and even with myself, my built in assumption over time is that bitcoin prices are going to go up. Therefore, I structure my strategy in such a way that my whole portfolio does better when prices go up, so yeah, my portfolio was doing fucking great all the way up to $779, and it is not in as great of shape at $566 as it was at $779.
Anyhow, I do have to reconfigure from time to time, and I attempt to be prepared for the price to go down in considerable ways, even if it were to return to the $200s.. though of course, matters are much better going up rather than down, and less down is better than a lot down.. yet overall staying above the mid-$00s is good, too.
I guess my main points is to prepare mentally and to prepare with your portfolio with a plan that is suitable for you, and if you are becoming extremely emotional, that is likely a sign that you have over invested either in one direction or another.. so you may need to tweak your holdings in order to remove some of the anxiety that is being evoked by the then current situation.
Hello!
Thanks for clear and explanatory reply.
Indeed, I was anxious about my plan because I had no plan for down. Now I do just to calm my nerves down. Because today's dip was good enough to cause me to smoke shitloads of ciggaretes.
Though, my story is developing just right: "price will drop a bit but it will recover".
We still see FUD going on with fake threads. But in case it doesn't, I will just buy more.
I think that during times of consolidation (maybe currently in the $550 to $590 price arena - for the past couple of weeks), we should be attempting to prepare ourselves financially and mentally, that the price could break out in either direction - and maybe placing a little bit of a bet that the odds are better in one direction rather than another (I still am a tiny bit more inclined to believe that an upwards break out is a bit more likely), but yeah, if we break downwards, I am prepared too... staggered tentative bets....
From your above post, it appears that you have allowed yourself to reconsider and reflect a bit in the past 24 hours, and that is a good thing (even though smoking a shit load of cigs may not have been so great for yourself, physically).
I very much agree to what you are talking about. That may be the price of the bitcoin for some weeks will remain between $ 550-$ 575. because I see that conditions have started to improve and I think in time it will come a bitcoin will experience the events always occur i.e. price will be stable. And during that time we were obliged to remain patient and not rash
