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Offline Pairmike

How to protect my BTSX investment?
« on: October 04, 2014, 06:41:41 AM »

The Bitcoin price drop over the past month has decreased my overall BTSX value in USD terms.  What is the best way to use the BitsharesX system to protect my investment?  I have an idea, but I want other to chime in with details.

Also, will anyone be interested in starting a trading group?  In this group we could:
1. demonstrate how to effectively place different trades on the bitsharesx platform
2. discuss strategies and trading implementation
3. discuss technical analysis
4. create educational articles, audio, and video for newbies and advanced bitsharesx traders

Suggesting and feedback are welcome.

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Offline robrigo

Re: How to protect my BTSX investment?
« Reply #1 on: October 04, 2014, 12:44:04 PM »
The best way to protect your investment in BTSX, in my opinion is to HODL!

Also, MeTHoDx started a subreddit for the purpose of what you're describing here: http://www.reddit.com/r/bitsharesmarkets/

Still has a low user base but it is a relatively new and niche sub so hopefully it picks up.

Offline Riverhead

Re: How to protect my BTSX investment?
« Reply #2 on: October 04, 2014, 12:51:21 PM »
Has it? I feel it has been pegged at about $0.03 USD/BTSX as BTC continues to fall. At the start of the fall we were 0.00006750 BTC/BTSX and now we're around 0.00009 BTC/BTSX which compensates.


So my advice is also to hold fast. Eventually BTSX won't be measured in terms of BTC.


e: Readability.
« Last Edit: October 04, 2014, 12:54:52 PM by Riverhead »

Offline Riverhead

Re: How to protect my BTSX investment?
« Reply #3 on: October 04, 2014, 12:53:48 PM »
Also, will anyone be interested in starting a trading group?  In this group we could:
1. demonstrate how to effectively place different trades on the bitsharesx platform
2. discuss strategies and trading implementation
3. discuss technical analysis
4. create educational articles, audio, and video for newbies and advanced bitsharesx traders


This is a pretty good idea. Maybe as a subforum of Economy called, "Trading". I feel these conversations are happening randomly over the forum but it would be cool to have a dedicated place where people could ask question, present ideas, and get suggestions from those knowledgeable in the field.


Offline CLains

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Re: How to protect my BTSX investment?
« Reply #4 on: October 04, 2014, 03:58:45 PM »
BitShares X has been holding very well considering we are in this horrible Bitcoin depression. I would like to urge everyone who wants to hedge with fiat to do it inside BitShares X, as it would reduce the loss of our dear BitShares X holders, including the main devs, by 50%!

Offline Pairmike

Re: How to protect my BTSX investment?
« Reply #5 on: October 04, 2014, 06:54:36 PM »
The Bitcoin price drop over the past month has decreased my overall BTSX value in USD terms.  What is the best way to use the BitsharesX system to protect my investment?  I have an idea, but I want other to chime in with details.

Also, will anyone be interested in starting a trading group?  In this group we could:
1. demonstrate how to effectively place different trades on the bitsharesx platform
2. discuss strategies and trading implementation
3. discuss technical analysis
4. create educational articles, audio, and video for newbies and advanced bitsharesx traders

Suggesting and feedback are welcome.
My idea was to buy BitUSD with BTSX.  My thinking is the peg will keep the value of my holding constant.  Am I missing missing something here?  Also, should this thread be moved under trading?
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Offline Method-X

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Re: How to protect my BTSX investment?
« Reply #6 on: October 04, 2014, 09:50:19 PM »
The Bitcoin price drop over the past month has decreased my overall BTSX value in USD terms.  What is the best way to use the BitsharesX system to protect my investment?  I have an idea, but I want other to chime in with details.

Also, will anyone be interested in starting a trading group?  In this group we could:
1. demonstrate how to effectively place different trades on the bitsharesx platform
2. discuss strategies and trading implementation
3. discuss technical analysis
4. create educational articles, audio, and video for newbies and advanced bitsharesx traders

Suggesting and feedback are welcome.
My idea was to buy BitUSD with BTSX.  My thinking is the peg will keep the value of my holding constant.  Am I missing missing something here?  Also, should this thread be moved under trading?

Yup! If you think the value of BTSX will be dragged down further by Bitcoin, convert your BTSX into BitUSD, wait for a bottom and then convert back to BTSX. Easier said than done, however. I'm just staying in BTSX long term.

Offline Chuckone

Re: How to protect my BTSX investment?
« Reply #7 on: October 04, 2014, 10:13:52 PM »
Holding would be a good choice IMO

As I'm writing this, BTSX is the only "currency" in the top 10 on CMC that has is market cap fall less than 2% in USD value compared to all the other coins that followed the Bitcoin it its fall, except for PTS of course.

Edit 1: Except Ripple also, but in my mind it's not the same...

Bitshares rocks!

« Last Edit: October 04, 2014, 10:16:19 PM by Chuckone »
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Offline Ander

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Re: How to protect my BTSX investment?
« Reply #8 on: October 08, 2014, 06:15:13 PM »
If you think BTSX is going to fall, you can convert to bitUSD.  Then convert back when you think BTSX is ready to rise.    BUT, if you are not an experienced trader, you are more likely to be wrong and miss a rise in BTSX as a result, than you are to save money. 


If you want to learn technical analysis, thats a good thing to do, but you should expect to be quite bad at it for years.  If you dont have an entire market cycle worth of experience with technical analysis, you probably wont do very well at trading.  Most people have to lose a lot of money to learn their lessons.  Of course, this wont apply to everyone.  Maybe youre just a prodigy.  Or maybe you will never learn.


Finally, if you are inexperienced at trading, then buy and hold is the best strategy.  Just try to buy when it has dropped significantly, and then hold tight.  Your natural tendency will be to want to sell near the low, and when it is high you will be too greedy to sell.  If you buy and hold through multiple cycles you will be well enough ahead no matter what your timing is that you should do well.

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Offline Ander

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Re: How to protect my BTSX investment?
« Reply #9 on: October 08, 2014, 06:19:13 PM »
Has it? I feel it has been pegged at about $0.03 USD/BTSX as BTC continues to fall. At the start of the fall we were 0.00006750 BTC/BTSX and now we're around 0.00009 BTC/BTSX which compensates.

When bitcoin was at $450, BTSX was around 3.5 cents.  We are currently just under 3 cents.  We have fallen with bitcoin, though not quite as much.

If anyone wants to see a chart of the BTSX price that is NOT measured in BTC, you can go here:
http://k.sosobtc.com/btsx_btc38.html

This is in CNY, but you can see the pattern. 
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Offline mf-tzo

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Re: How to protect my BTSX investment?
« Reply #10 on: October 08, 2014, 06:20:38 PM »
Quote
Your natural tendency will be to want to sell near the low, and when it is high you will be too greedy to sell.  If you buy and hold through multiple cycles you will be well enough ahead no matter what your timing is that you should do well.

So true!!!

 

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