Author Topic: Damage control advice needed  (Read 4798 times)

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my personal advice if i had any btc left would be to buy as many bts you can and short sell the bitusd by having a comfortable ratio of collateral..bts may drop in btc terms until the btc pump is over but i doubt that bts will  fall below $0.003(or $335-380 depending how you see things)

Before you take my advice, consider that I have lost 80% of my bts in Polo margin long trading so apparently I am not the best person to advise you here..

I know. I've been following what you say in other threads with a heavy heart :(


This is likely a pump I think. I can't call tops but I'm usually pretty good at spotting a low for some reason *knock on wood*

So I'm just going to hold until it looks like this BTC bubble has deflated, or bitshares has caught up with btc a little. I know it sounds like just holding, but with the way I'm distributed right now, it'll be the ballsiest trading decision I've ever made. I can't buy back in right now, tempting as it is, so I have to face fact that I'm stuck with the amount of BTC I have on hand right now.

The good news, nomoreheroes, is that if I'm right in my assessment then you're in a perfect spot.

Offline mf-tzo

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my personal advice if i had any btc left would be to buy as many bts you can and short sell the bitusd by having a comfortable ratio of collateral..bts may drop in btc terms until the btc pump is over but i doubt that bts will  fall below $0.003(or $335-380 depending how you see things)

Before you take my advice, consider that I have lost 80% of my bts in Polo margin long trading so apparently I am not the best person to advise you here..

Offline nomoreheroes7

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Well at least you have some BTC...I'm 100% BTS still. Stupid me.  :P

But I figure as soon as bitcoin crashes back to reality traders will likely use that as an excuse to pump the alts back up. It's nice to see BTC rising like it is, but it could easily just be another large pump from the same old pool of traders...which means it won't last.

Basically, I'd think your best advice would be to be careful trading on emotions. Things can change fast.
« Last Edit: November 04, 2015, 02:31:32 pm by nomoreheroes7 »

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I suck at trading. Lesson learned yet again.

Last night, shortly before falling asleep, I finally succeeded at importing my keys! I now have access to my entire balance of Bitshares. The problem was actually largely my own fault, the original reason for the delay, large keys not importing, was solved several days ago by enterprising forum members.

In the midst of my personal bias for BTS, the hype preceding 2.0 launch, and bitcoin stagnation, I figured a week or two before the launch it'd be a good idea to sell 50% of my bitcoin in BTS and hold to see if the launch increased the price.

See my quandry?

I now have more BTS than I should be comfortable with, less BTC than I should be comfortable with, and Bitcoin looks like it has left the short term launch pad without me. I would have balanced back out at the first sign of price increase by BTC backed with good news, but I didn't have access to my coin.

To be perfectly clear I'm not upset. I understood the risks. I don't blame anybody but myself on this.

But I need advice from better traders than me while I try to form a damage control strategy. My take on this is that the price is being pumped by the federal government due to impending silk road auction. this happened before the last auction too and the price tanked a few weeks afterwards.

If that happens again then my best strategy is patience until BTC price bottoms out again.