Author Topic: Damage control advice needed  (Read 4754 times)

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I'm proud to say I made it the whole day and still have the same amount of BTS as I started off.

BTC seems to have chilled out to 400. Bear trap? I personally am hoping not.

bm: as far as panic buying goes, that's actually the norm for me. I put as much as I can in every payday. I try to keep a decent spread of cryptos but I usually end up being top heavy BTS. its just that id be keeping it all in btc for a while to catch that back up instead of buying alts with 50-75% of it.
« Last Edit: November 05, 2015, 05:55:59 am by merockstar »

Offline Ander

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You know what?

I just realized that if I did sell it would be a panic sell.

I made a wrong trading decision.

But if this is it, if BTC truly truly goes to the moon, it will drag a lot of alts that I still hodl with it. I still have a tiny bit of btc too.

More important than that, this is probably not truly it! Bitcoin has always gone up and down. If it stays high for a while I'll just hodl what I have and keep buying BTS. I need to not try to play the short game. I'm terrible at it. I tried to do that here and lost. And long game everything about BTS makes sense to me.

In coming days I'll try to buy as much BTC as I have to top off my supply. But I don't know why I'm worried about it. If BTC goes to the moon so is crypto. If it doesn't that just means another chance to make up for it eventually.

Bitcoin cant go all the way to the moon in one rally, off a 2 year bear market.  Look at How long it took in 2012 to get going.  There will be pullbacks, and alts will recover.

When things go the other way, buy some BTCs with fiat so that you wont be completely out, and maybe sell a bit of bts if the rate become good again.  But not now while its true blood in the streets.  (For real this time!)

well if there's a mega-rally, there's a chance I'll never have access to BTC at 200 range prices again. I would be disappointed to see a rally to 10 grand which results in a deflation to a grand. thats what I mean by moon right now :P

but a ten grand btc is going to result in a 1000 dollar litecoin, or something, I'll take that. Not to mention ppc. that'll be like 100-200 bucks and i've been hodling that forever. Certainly BTS value would get pulled up also.

Whenever the rally is going pure parabolic, its going to give alts a chance to catch up.  The past week its been parabolic.  We just need it to cool off a little and alts will recover.

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unreadPostsSinceLastVisit

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You know what?

I just realized that if I did sell it would be a panic sell.

I made a wrong trading decision.

But if this is it, if BTC truly truly goes to the moon, it will drag a lot of alts that I still hodl with it. I still have a tiny bit of btc too.

More important than that, this is probably not truly it! Bitcoin has always gone up and down. If it stays high for a while I'll just hodl what I have and keep buying BTS. I need to not try to play the short game. I'm terrible at it. I tried to do that here and lost. And long game everything about BTS makes sense to me.

In coming days I'll try to buy as much BTC as I have to top off my supply. But I don't know why I'm worried about it. If BTC goes to the moon so is crypto. If it doesn't that just means another chance to make up for it eventually.

Bitcoin cant go all the way to the moon in one rally, off a 2 year bear market.  Look at How long it took in 2012 to get going.  There will be pullbacks, and alts will recover.

When things go the other way, buy some BTCs with fiat so that you wont be completely out, and maybe sell a bit of bts if the rate become good again.  But not now while its true blood in the streets.  (For real this time!)

well if there's a mega-rally, there's a chance I'll never have access to BTC at 200 range prices again. I would be disappointed to see a rally to 10 grand which results in a deflation to a grand. thats what I mean by moon right now :P

but a ten grand btc is going to result in a 1000 dollar litecoin, or something, I'll take that. Not to mention ppc. that'll be like 100-200 bucks and i've been hodling that forever. Certainly BTS value would get pulled up also.

Offline Ander

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You know what?

I just realized that if I did sell it would be a panic sell.

I made a wrong trading decision.

But if this is it, if BTC truly truly goes to the moon, it will drag a lot of alts that I still hodl with it. I still have a tiny bit of btc too.

More important than that, this is probably not truly it! Bitcoin has always gone up and down. If it stays high for a while I'll just hodl what I have and keep buying BTS. I need to not try to play the short game. I'm terrible at it. I tried to do that here and lost. And long game everything about BTS makes sense to me.

In coming days I'll try to buy as much BTC as I have to top off my supply. But I don't know why I'm worried about it. If BTC goes to the moon so is crypto. If it doesn't that just means another chance to make up for it eventually.

Bitcoin cant go all the way to the moon in one rally, off a 2 year bear market.  Look at How long it took in 2012 to get going.  There will be pullbacks, and alts will recover.

When things go the other way, buy some BTCs with fiat so that you wont be completely out, and maybe sell a bit of bts if the rate become good again.  But not now while its true blood in the streets.  (For real this time!)
https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Offline bytemaster

I think it is just as important to avoid panic buying as it to avoid panic selling.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

unreadPostsSinceLastVisit

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You know what?

I just realized that if I did sell it would be a panic sell.

I made a wrong trading decision.

But if this is it, if BTC truly truly goes to the moon, it will drag a lot of alts that I still hodl with it. I still have a tiny bit of btc too.

More important than that, this is probably not truly it! Bitcoin has always gone up and down. If it stays high for a while I'll just hodl what I have and keep buying BTS. I need to not try to play the short game. I'm terrible at it. I tried to do that here and lost. And long game everything about BTS makes sense to me.

In coming days I'll try to buy as much BTC as I have to top off my supply. But I don't know why I'm worried about it. If BTC goes to the moon so is crypto. If it doesn't that just means another chance to make up for it eventually.

Offline Ander

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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.


My advice:

1) Go on coinbase and buy a couple btc, so you have SOMETHING in case it goes truly, truly moon. 

2) Dont sell bts now.  This is truly blood in the streets time for most alts.  Probably btc will cool off at some points and alts will recover.  Then maybe sell a bit to get some btc back, if you still feel like it.

3) Dont do any margining at polo, its ruining everyone.

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Offline Empirical1.2

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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..

How are you coping? I lost all there (my own fault) and I am unable to think straight. All I was thinking today was that if could have at least held onto 1 BTC instead of putting it in collateral I could have bought almost 200 000 BTS today which would have been something.

Bought millions with tens of BTCs earlier and now looking around and seeing not a single BTC left.

Well I don't really cope very well with this. I was ready to start massively promoting bts and now i can't see any reason why...On the other side I never had tens of BTCs and millions of BTS so I guess other people must feel more pain than me..The worst is the feeling that all these hopes and plans for the future look like they have gone to dust now and I am thinking that all this time I spent in this forum over the last 2 years for what??Nothing..So I am just sad..

If BTS can address liquidity issues then things will start looking a lot better. It looks like we may have some basic market makers in as little as a week. https://bitsharestalk.org/index.php/topic,19760.0.html
If you want to take the island burn the boats

Offline Ander

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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..

How are you coping? I lost all there (my own fault) and I am unable to think straight. All I was thinking today was that if could have at least held onto 1 BTC instead of putting it in collateral I could have bought almost 200 000 BTS today which would have been something.

Bought millions with tens of BTCs earlier and now looking around and seeing not a single BTC left.

Well I don't really cope very well with this. I was ready to start massively promoting bts and now i can't see any reason why...On the other side I never had tens of BTCs and millions of BTS so I guess other people must feel more pain than me..The worst is the feeling that all these hopes and plans for the future look like they have gone to dust now and I am thinking that all this time I spent in this forum over the last 2 years for what??Nothing..So I am just sad..

If you massively promote BTS and get referrals, then those referrals will give you BTS, you can get back in the game.  Also the price of BTS is still .3-.4 cents, so you can always buy back in a bit with funds, even if small.
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Offline mf-tzo

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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..

How are you coping? I lost all there (my own fault) and I am unable to think straight. All I was thinking today was that if could have at least held onto 1 BTC instead of putting it in collateral I could have bought almost 200 000 BTS today which would have been something.

Bought millions with tens of BTCs earlier and now looking around and seeing not a single BTC left.

Well I don't really cope very well with this. I was ready to start massively promoting bts and now i can't see any reason why...On the other side I never had tens of BTCs and millions of BTS so I guess other people must feel more pain than me..The worst is the feeling that all these hopes and plans for the future look like they have gone to dust now and I am thinking that all this time I spent in this forum over the last 2 years for what??Nothing..So I am just sad..

Offline Empirical1.2

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Barring any bad news for BTC from China and save a few corrections, BTC is probably going over $1000. So I'm still bullish on BTC.

Bearish on BTS.

- BTC sucking money out of alt-projects ETH, STR, BTS, MAID. Crypto-currencies will fare better though.
- Without a credible solution for liquidity, BTS has limited upside short term.
- BTS merger shares being released at about 685000 BTS a day (5 BTC a day at current prices) 
- If 'follow-my-vote' is actually FMV (Who was allocated 1% of BTS I think?) he's recently sent 1 million BTS to Polo, possibly to sell and may sell more https://bitshares.openledger.info/#/account/follow-my-vote

On the positive side, Tether (USDT) & Nubits (NBT) have done over a million dollars in combined volume over the last 24 hours.
That shows there's definitely a demand for a BitUSD.
« Last Edit: November 04, 2015, 05:22:51 pm by Empirical1.2 »
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I think what's causing me to hesitate from balancing out or shorting bts is that this just feels like it would be a panic sell.

But maybe that feeling is illusory because circumstances made the situation worse than it would've been.

clout

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Just short bts on poloniex. Bts price in terms of usd and cny may remain stagnate, but btc is going to continue to rise on chinese demand. It will go above $1000 usd/btc. Thus bts price will fall dramatically relative to bts. Honestly, just sell bts. This project is dead in the water if there is no liquidity on the bitshares exchange and no exposure to the chinese markets. Poloniex trading might drive down the market cap of bts to $7m.

Offline btcxyzzz

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

Since it seems 4th bubble has started... Bitcoin will likely bottom out in say 3 years at ~1000-2000 USD ;)

Offline habeler

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..

How are you coping? I lost all there (my own fault) and I am unable to think straight. All I was thinking today was that if could have at least held onto 1 BTC instead of putting it in collateral I could have bought almost 200 000 BTS today which would have been something.

Bought millions with tens of BTCs earlier and now looking around and seeing not a single BTC left.
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bts-habeler876