If Bitcoin fails, I will still be able to buy my weekly bottle of Riesling. Stick to your own trading strategy, and if ever you make it big, you will lean towards my thinking, perhaps even without knowing it.
Seems your goal is similar to the Winklevoss twins, accumulating loads to have a decent shot to go from well-off/rich to being super rich - so I can understand your strategy. There are others who try to trade Bitcoin as a kind of job which they derive their 'salary' from and those people will trade more aggressively. Then there are those that buy it as a lottery ticket, saying they don't care really what happens and just hope their 10 BTC can one day be 1 million years from now.
Each of these strategies are different and none are necessarily better than the other, just different goals/levels of risk/expectations.
I personally find that Bitcoin moves with a lot of momentum - that applies to both up and down movements. When it is going up you want to ride that as far as it can go...not trying to magically find the peak to sell at (it's okay selling 20% off the peak during a crash). Once the bubble has popped and it's on it way down, you really want to let it crash as low as possible and wait out to buy in again (its okay buying 20%-50% higher than the absolute bottom price if you are confident its about to enter a major phase up). I could obviously be wrong, but that's a trading strategy I'm comfortable with as I do believe in the boom/bust cycle of hype.
Thank you. This is one of the best posts I've read today.
I want to share my secret with you.
gives me confidence to buy and hold bitcoins. Instead of making money myself, I want to make the dream come true. The universe has that dream, so it will be fulfilled regardless, I just feel it is my place to be right now.