Hi TraderTimm! thanks for your thoughts. I probably did not express myself properly - what I am trying to say that although the currency can be used to buy and sell goods and services that is not the main current use right now. If it did become a security that was used and trusted to store value instead of speculating (an ideal scenario) at that point it would change (this is what I view as the upside).
I agree with your concise summary, was also explaining the rational behind it.
I was not considering a trailing stop, just risking an amount i was more than comfortable in losing and I am not convinced if it is applicable in this sort of market (where there are dramatic price jumps both up and down as liquidity dries and relatively small orders move the market in big swings).
What do you suggest as the optimal strategy if you thought that there was a price ceiling at X and owned Y BTC?
This is a fast moving upward spiralling self fulfilling style market where money is chasing a limited supply of a security, which behind it has no intrinsic value and is not actually actively being used to trade goods and services (although it can be and might be in the future, it is not now - I am aware that there are some sellers of real goods but not in the context of a £75m mkt)
So to summarize without run-on sentences:
1.
"The market is trending up" - yes, correct.
2.
"It has no intrinsic value" - you may want to become better educated on what currencies are, and trade in general.
3.
"Not being actively used to trade goods and services",
"no wait, it is - but it is a smaller market compared to " - Please slow down and compose your thoughts when posting. This is a contradictory statement. The size of this burgeoning market really doesn't have much relevance, except when trying to predict future growth.
As for your strategy:
A more concise summary would be:
"I'm selling 25% of my remaining stake at 300% price change intervals."Good luck with that, despite your fears of
"falling to zero", you have no mention of a trailing stop or money management other than what is stated above.