Post: #1

Ok so this thread is for all bitcoin enthusiasts who want to take advantage of the volatility and want to trade bitcoin.

Share your thoughts and strategies here about the day to day movements of BTC price and suggested buy and sell points.

Right now bitcoin at $500 as a low has be tested dozens of times and has dipped as low as 468 in the last few days.

Keeps bouncing back to 500 though.

Medium term I don't think BTC will get a lot cheaper than 500. In fact I think 500 represents a fairly solid low and a good point to buy.

As I type this BTC is 490 but as it went down to 468 I think setting a buy order at 470 is a good play right now.

Thoughts?

Post: #2

Yeah I have some thoughts. I've lost 14k drunk trading this month buy being greedy. I could have made 30 dollars per coin but never pulled the trigger. Now I'm considering selling and trying to make it back on alts which are what we should be discussing here anyway.

Post: #3

What tools are you using to base your trading position decision making on?

Bitstamp's order book is a really useful one for me

https://www.bitstamp.net/market/order_book/

Post: #4

(03-29-2014 07:13 PM)JJ Roberts Wrote:  What tools are you using to base your trading position decision making on?

Bitstamp's order book is a really useful one for me

https://www.bitstamp.net/market/order_book/

Mainly Vodka and redbull zero. The coins need some REAL good news because every gov hates them. But I'll warn you when I sell because they'll skyrocket 5 minutes later and uptrend for a month.

Post: #5

(03-29-2014 07:32 PM)el mechanico Wrote:  Mainly Vodka and redbull zero.

lol

what alt coins were you referring to BTW and what is your take on their buy and sell points?

Post: #6

how do I start trading Bitcoin and alt currencies?

I'd happily read/watch anything you guys really recommend

Post: #7

(03-30-2014 01:06 AM)2014 Wrote:  how do I start trading Bitcoin and alt currencies?

I'd happily read/watch anything you guys really recommend

Start here

http://www.coindesk.com/

and here

https://bitcointalk.org

And set yourself up with a wallet on your computer and accounts with a bunch of exchanges

Which is the best exchange for you will depend on your country and currency

Post: #8

I mentioned this briefly elsewhere put its time to put this chart up



The interesting thing here is that the same pattern is repeating in BTC trading for spikes and dips.

So that's 3 past spikes followed the dips which was followed by the price shooting up.

Number 4 on this pic is the current dip which may or may not have found a bottom price yet but looks close to ending.

If you want to examine this chart detail in more data, zoom in etc ...

http://www.xe.com/currencycharts/?from=XBT&to=USD

BTW the green tube part of the graph above shows a logarithmic growth channel

The guy who originally posted this over at bitcoin talk commented "in over 10 years of practicing technical analysis i have NEVER seen a chart survive several bubbles and stay within a logarithmic growth channel"

If his analysis is correct is predicts BTC price of 2,000 USD and over by end of July this year.

Post: #9

if you think about coin mining. The supply decreases logarithmically, because it gets exponentially harder to mine bitcoins.

Post: #10

(03-30-2014 07:08 PM)void Wrote:  if you think about coin mining. The supply decreases logarithmically, because it gets exponentially harder to mine bitcoins.

Lets leave mining talk for the main bitcoin thread. This thread is just about expressing opinions on buy and sell positions for those trading the volatility.

Post: #11

(03-30-2014 07:40 PM)JJ Roberts Wrote:  

(03-30-2014 07:08 PM)void Wrote:  if you think about coin mining. The supply decreases logarithmically, because it gets exponentially harder to mine bitcoins.

Lets leave mining talk for the main bitcoin thread. This thread is just about expressing opinions on buy and sell positions for those trading the volatility.

Haha! Sell low and buy high or Hodl!

Post: #12

(03-30-2014 09:18 PM)el mechanico Wrote:  Sell low and buy high

Not a great strategy lol.

I assume this is a vodka red bull post.

Post: #13

Price pretty steady at the moment

Been between $438.00 - $486.70 all day

Managed to buy some near the bottom at 442

Been mostly stuck at 450 all day

Trading at $452 right now

Post: #14

After buying in the 1000s I never would've thought my stash could average under 500.

I'm a very happy buyer right now

Post: #15

Anyone looked into derivatives as a means of dealing with volatility?

http://www.wired.com/2014/01/bitcoin-derivatives/

I actually used to build derivatives systems (futures and options) for investment banks so I am interested in this stuff.

Post: #16

(03-31-2014 10:02 PM)JJ Roberts Wrote:  Anyone looked into derivatives as a means of dealing with volatility?

http://www.wired.com/2014/01/bitcoin-derivatives/

I actually used to build derivatives systems (futures and options) for investment banks so I am interested in this stuff.

well, i trade cfd's. but not as a means of dealing with volatility....or hedge them if you will (like you'd do with futures) it's more to take advantage of the volatility.

Post: #17

I am tempted to doing some trading.

But I think its hard to beat the market, with fees, insider information and this being a crazy market. Good luck!

Post: #18

Post: #19

(04-01-2014 04:09 PM)pants Wrote:  I am tempted to doing some trading.

But I think its hard to beat the market, with fees, insider information and this being a crazy market. Good luck!

Well right now you can 'beat the market' by just buying, holding out the volatility for a few years and selling.

It's not that hard with some analysis to play the market.

Like I said a little while back, $500 is the current gravitational price.

If you can get some BYC at 450 or less like I did a few days ago then you got yourself a 10% discount.

Buy when people panic sell on FUD.

Sell when silly amounts of greed push the price up to places that are not sustainable over the 1 or 2 months that are going to follow and then buy again when people get panicky and drive the price down.

Personally I wish that there was something that caused huge FUD and drove the price all the way down to 100 dollars again.

I would buy shed loads of BTC if that happened.

Unfortunately probably not going to happen (or at least any time soon) so I will just trade the swings.

I see no reason not to believe that BTC will hit 2,000 USD in 2014. Probably by the end of the summer. If not then maybe by Nov.

Post: #20

(04-01-2014 08:12 PM)JJ Roberts Wrote:  

(04-01-2014 04:09 PM)pants Wrote:  I am tempted to doing some trading.

But I think its hard to beat the market, with fees, insider information and this being a crazy market. Good luck!

Well right now you can 'beat the market' by just buying, holding out the volatility for a few years and selling.

It's not that hard with some analysis to play the market.

Like I said a little while back, $500 is the current gravitational price.

If you can get some BYC at 450 or less like I did a few days ago then you got yourself a 10% discount.

Buy when people panic sell on FUD.

Sell when silly amounts of greed push the price up to places that are not sustainable over the 1 or 2 months that are going to follow and then buy again when people get panicky and drive the price down.

Personally I wish that there was something that caused huge FUD and drove the price all the way down to 100 dollars again.

I would buy shed loads of BTC if that happened.

Unfortunately probably not going to happen (or at least any time soon) so I will just trade the swings.

I see no reason not to believe that BTC will hit 2,000 USD in 2014. Probably by the end of the summer. If not then maybe by Nov.

I have a theory that the next bubble is sort of the point of no return.

I am expecting unseen momentum upward.

It feels like everyone on the institutional and corporate side is standing on the sideline waiting to see who is going to make the first big move.

When this kind of money start investing, no one is gonna want the other to have an edge. Thus, most are gonna want to have more token in the system than the other, more bitcoins in the balance.

Quote:The bitcoin is the only thing where the complete definition of ownership is the entry on the ledger. It has to be a native and new currency because the definition of the object is the ledger entry. That doesn’t correspond to a dollar or a piece of gold or something else. It is what it is. The entry on a ledger of a bitcoin is a fundamental unit whose value can be moved electronically through the security protocol.

Quote:One way to think about the transaction volume and the intrinsic value is that, at any moment in time, there’s a fixed number of bitcoins, and suppose you want to run half a billion dollars-worth of transactions through the system in a day.

There’s a fixed number of bitcoins, and a dollar value of transactions that needs to be supported on them, and each bitcoin can only be used once in a day, then the market cap of the bitcoins would have to rise to support the dollar value of transactions. There’s a market price for access to the bitcoins.

http://www.coindesk.com/professor-susan-...sic-value/

Quote:There’s a market price for access to the bitcoins.

This is a quote that resonates a lot with me. Once people have gotten a grasp of the power of the technology. They are often lead to wonder how is it we can quantify and assess value to this system. With bitcoins. This is what they are : unit, entries, tokens for the ledger.

As more people realize this, they are gonna want to hold as many as possible. Especially the banks.

Post: #21

First day were I just haven't seen the price move at all

$475.13 - $483.45 all day despite 22,000 volume traded on bitstamp

Post: #22

The pattern is valid and pretty well established.

BC's not going anywhere.... buy+hold is a great Strategy.

I got in at 150 a year ago and I'm not selling till it makes me a millionaire.

I think the price will surge to over $3000 this month, or next.

Even if I'm wrong it will still get to $3000, just later....

S

Post: #23

(04-01-2014 11:53 PM)JJ Roberts Wrote:  First day were I just haven't seen the price move at all

$475.13 - $483.45 all day despite 22,000 volume traded on bitstamp

I've watched the asks down to $430 go from 2500 to 9500 BTC in two days. on bitfinex (witch also are using bitstamp order book) '
Those 9500 BTC would cost $5.5M. There is only 5500BTC for sell until we reach $550.
Soon there will be no cheap coins left. Price moving up will make price move up even further.

(03-31-2014 10:02 PM)JJ Roberts Wrote:  Anyone looked into derivatives as a means of dealing with volatility?

http://www.wired.com/2014/01/bitcoin-derivatives/

I actually used to build derivatives systems (futures and options) for investment banks so I am interested in this stuff.

Got this in my mailbox today
http://us4.campaign-archive2.com/?u=3181...8f3c8e4bbb

Post: #24

Weird to see no movement yesterday and then to wake up to a 10% downswing.

Down to 430 right now. Just buy a buy order in at 400

Post: #25

Seems to be based on this FUD news

http://www.coindesk.com/chinese-bitcoin-...t-freezes/