Rocket Scientist
Member
pigeon
fuck yo bitcoin
(02-28-2014, 08:33 PM)
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Dat ether.
Anyway, I should stop checking the price of bitcoin, makes me sad each time.
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Bitcoin community in panic as major exchange goes AWOL.
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fuck yo bitcoin
(02-28-2014, 08:33 PM)
Multi-Quote This Message Quote
Dat ether.
Anyway, I should stop checking the price of bitcoin, makes me sad each time.
Lol...
Uh oh...
P.S. Don't get caught in a bull trap. You gotta sell at some point unless your plan is to long Bitcoin
ElbowRocket
Member
How are your gains coming along?
My average return is currently at about 1.7% a day although I am only on my fifth day. I am currently out of the market as I picked the bottom wrong and bought in today at $672 looking for the price to hit resistance at $680, which was dumbass as support was at $650, ugh. I will probably have to take a small hit which is only inevitable at times as you cannot get every single trade right. My daily return then will probably be knocked down to 1.4% or so. I can wait until the price rebounds (as it will inevitably) or take the hit. If I do I still would have been successful in 10/12 trades which is quite good.
PetriP-TNT
Member
Glad to see everything is going well. At this pace, you are a millionaire in year -5014
Actually end of next year at 1.4% daily off only an initial $400 investment.
Once again we fail to understand compound growth. Tsk tsk.
Please don't forget that compound losses are also a thing.
Yesterdays news but
Another one bites the dust, my cryptocurrancies
dat cryptosecurity
rofl
How much of a hit did you take bro?
Yeah, it stops at zero. Total risk? $400 to a couple grand lost. Can live with that when the alternative is to do what I've always done - get a menial, go nowhere job that underpays me, doesn't take my education, experience and skills into account and conjures up reasons to get rid of me.
Live by the sword, die by the sword. Working like a schmuck is second best and I'll never get anywhere doing that. Don't believe in it anymore.
Still in. Current hit to pull out now would be 1.5% on this trade.
That doesn't tell me anything. How much did you buy in for and how much did you lose assuming you sold right now?
why are you asking such specific questions about people's finances?
you guys have proven your point, paile doesn't seem to be doing amazingly. asking specific cash amounts is pretty damn over the line
That's a little defensive. Maybe I'm intrigued by his strategy and I'm looking for returns so I can invest with him.
What do you live off in the meantime?
I have some money in the bank.
How is discussing the returns and losses on Bitcoin just casual conversation? It's very relevant information for the topic at hand.
And you're earning money through speculation faster than you're consuming it through, well, consumption?
what? that dude started talking about his trading first
specific cash amounts on public forums is not relevant. go look at the charts yourselves and figure out paile's theoretical gains and losses instead of baiting him/her further for your own amusement, which is all you guys are trying to accomplish anyway.
Whatever, man, it's just fiat. It's not real.
I don't mind sharing my plan and starting situation, but will not be providing an ongoing play-by-play so don't expect it. My plan is to invest $400 at first. I aim for a minimum of 1-2% return averaged daily. If I achieve that over the course of one month, I will invest another $400. As long as I maintain at least 1% I am on track. Returns of course are very small at first, 1% of $400 is only $4 after all. I started with around $408 and I am now around $440 within about 5 days. This is outstanding growth.
So not saying that 1% a day is not good growth? Are you serious? You need to think things through a bit. 1% a day is 365% a year. And obviously I am reinvesting any and all profits I make back into every trade so my investment compounds.
You show me ANY other investment that can boast that type of return? Didn't think so.
If you're serious about day trading, you should use more than $400. That's a fine amount to begin with and get a feel for things and make some beginner's mistakes, but at a daily 1.5% profit this works out to a pretty lousy wage.
You should probably work with $10,000 to make it worthwhile, which results in a daily $150. Less than that and you're just wasting time and eating your savings.
Personally, I'm not comfortable handling that much.
edit:
Sounds like a solid plan. Good luck and keep us posted.
Would you say you're a slave to the bitcoin?
lol, ah this fucking place never ends does it?
no, so stop bumping the thread and start using the OT in the community forum instead.
that's where we have all of our craaaazy discussions about overthrowing the government and where we post pics of us burning piles of fiat
So you made $32 in 5 days, which is $6.40 a day. How much money do you need per day to live?
edit: this isn't intended to be snarky, I'm just curious how much money you need to invest to be able to make a living from this.
Expecting 1% daily for 365 days is incredibly unrealistic. That's pyramid scheme territory. I know, as someone who made 1.25% daily on a HYIP and got out after 90 days. ~14 days later, it crashed.
I hope it work for you, but this all sounds incredibly familiar to someone who played the system and won to the tune of $2000.
He doesn't since society is going to allocate resources based on reasoning he has gathered over the years
A-fucking-men to that.
Palle is the one that said he was out to show the world we were wrong on this point, and thus it follows that we should know how wrong we were.
Unless you're just interested in covering up the truth like all governments!
You're doing better than you think. 1% a day is 3778% per year (not bad).
It's the savings-eating I'm curious about. It reminds me of Micawber; ""Annual income twenty pounds, annual expenditure nineteen pounds nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds nought and six, result misery.""
It may well be that what paile is fundamentally doing is transferring secure - at least, insofar as stuff in a bank is secure these days! - savings into a volatile investment (by drawing from savings so as not to tap into the money being generated by the investment).
The interesting thing is whether at the end of the month the revenue from doing this successfully offsets the amount his savings were hit in order to do so; covering costs of food, rent and utilities. At a rough benchmark for me, that's around £600 pcm, but I live in part of the world where rent is higher than other areas.
If my maths is right, that'd need an investment of around £2k to break even? Ish? Still a lot more than I'd ever be willing to risk.
Obviously much more than $6.40 a day.
Off an initial investment of $400, compounded at 1% a day return will provide about $4000 a month after one year. Obviously investing more will provide much quicker return and getting a higher rate, say 1.5% a day, will compound things much more quickly.
Is 1% a day unrealistic? It could be; but it doesn't hurt to try. Better to try and fail than to never try at all.
Put it this way, I'm recently unemployed anyway and will go through the motions of trying to get a job for security. I have unique personal circumstances that will make this difficult for me, but I will try nonetheless. Obviously being unemployed I do have a source of income so I am not completely reliant on savings. Still, I can sustain myself for several months without paid work which will buy me enough time to start getting decent returns from my investment. The longer I can go without touching my investment, the better.
Strictly speaking, one could discuss this in terms of opportunity cost and that true losses are what wasn't gained by picking a much safer investment path as opposed to loss of original principal, but that kind of depends on the person as they might not have invested it otherwise.
Big returns require big risk. You can invest several thousand into a savings account at 6% a year but where the fuck is that ever going to get you?
except it's an un-winnable battle because any gains are just illusory because bitcoin is teh pyramid scheme and can only be used to purchase children from a bodega in Tangier
and that's assuming the evil, truth covering government doesn't catch the package in customs
Wait, so unemployment insurance or unemployment benefits are supporting your lifestyle while you do this?
Did you have any childhood aspirations? The worst opportunity cost of becoming a day-trader is you never get around to writing a novel, etc.
Unwinnable? So he's already failed according to you! Typical fiat stooge.
Wait, so unemployment insurance or unemployment benefits are supporting your lifestyle while you do this?
I am not going any further into my personal financial situation. In a nutshell I do not expect to be able to get a job due to my own personal circumstances. It is difficult for someone in my situation to gain employment. I will try and I am obligated to do so, but in the meantime I have no choice but to pursue other options.
My last job ended almost a month ago. I was terminated after nearly one year of employment for failing to meet performance expectations so unrealistic and unachievable that I am currently pursuing legal recourse for it.
Let's put it this way, my aspirations are NEVER going to be met in a 9-5 menial job. I went through the motions, gaining experience, getting a degree and yet whatever did I get for it? Not a lot. I am disillusioned with the process. I would like to open up a small game development studio, this requires money, and I am simply looking for alternate ways to achieve this.
Also, how much time does following this and maintaining it require? I assume the key operations don't take much time investment, but how much attention needs to be paid to be aware when to operate them?
What about if it plummets massively while you're asleep?
lol
and i don't think my message is getting through, so have fun with this one guys, compliments of the house....the bitcoin house.
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