Quote from: Idrisu on May 11, 2017, 07:23:04 AM

Quote from: fintekneeks on May 09, 2017, 12:16:59 PM

People new to Bitcoin may want to consider the 3 Bitcoin Rule (3% of total), since investors unfamiliar with Bitcoin have many stories involving mistakes of selling too early, or jumping in at the wrong time due to the panic of missing a trend. I met one of the smartest bitcoinaires at a meetup in downtown Dallas, who interacted with Satoshi on the bitcoin forums and was one of the earliest adopters. He sold his bitcoins to pay for student loans and felt regret at selling the too early, even though I would argue he made a good trade. However, sellers remorse can happen and we can mitigate it by simply following this 3 Bitcoin Rule: always keep a minimum of 3% of your bitcoin total (so 3 if you have 100). In our minds, weve lost these forever, so we dont debate whether we made a mistake when we sold some or not.

Traders who have more experience may find this rule inappropriate, but for people new to bitcoin, this has done well over time.

I sold part of my bitcoin last month I think up to 95% of my hold at $1090 and this week bitcoin went up to $1,800! not even up to three weeks that I sold out of panic. The wost of it is that I cannot remember using my money for any better things! I just learned from this your post now never to sell my coin out of panic.

That's a good lesson to learn; bitcoin is a tough market for new traders. Many didn't see the recent 12-15% dip coming and it did. Friday, I thought GBTC was cheap due to this oversell, just like I saw a lot of potential in GBTC before the bitcoin ETF was denied. It's a tough market though.

Having a strict rule - whatever it is, helps. For most people "3 percent" doesn't feel like a lot of risk. For some, it may be higher or lower.