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a trader needs to cut his losses. Selling low makes more sense than losing all.
by camus2 13y ago
a trader needs to cut his losses. Selling low makes more sense than losing all.
- Avalaxy 13y agoAgree with the cutting losses, but we see these patterns all the time with bitcoin. Big chance it will be up to old levels in 4 days. The long-term sentiment for bitcoin is very bullish (or at least that's my opinion). Cutting losses is not a very logical strategy for long positions in bitcoin imho.
- TylerE 13y agoThe problem is that at some point any rational trader will want to cash out at least some profits. This swings are showing how little it takes to tank the price. The less liquidity there is, the more academic the trading price is.
- thaumasiotes 13y agoThere's a system for making sure you buy low and sell high ("rebalancing"). Step zero is not to run off and make trades based on news you just heard; that's a sure way to buy high and sell low.