Quote from: Blitz on November 20, 2013, 03:27:07 PM

Quote from: CryptStorm on November 20, 2013, 03:12:18 PM

+1
I, for one, gotta say thanks for this comment, Blitz. I'm new to this forum but really appreciate your comments here-- I know that I certainly have ridiculously risky appetite, despite a fairly good knowledge (for a non-pro trader) of position sizing and risk allocation. Do I properly size my positions, do I use a trailing stop, do I take profits appropriately, and cut losses every time? Certainly, I feel like these are my weakest areas. Finding BTC is probably the hard part. Now that I'm here, I should really exert those controls and be patient.

Do you have any more suggestions on/about BTC risk management? (excuse me, as I haven't read back through the last 20 pps)

Cheers!

If you want to be serious and have the time to dedicate, IMO it's the best thing to learn technical analysis. I've learnt a lot from waveaddict (whom I still subscribe to) and in the beginning S3052. Here is a good free source to start out: http://www.babypips.com/school

Otherwise, I would simply hold BTC if I really saw much potential left until a bubble happens and bursts, which is the optimal time to diversify. If things look good after a few months and it isn't in a severe downtrend, it is probably. In case you haven't bought yet but would like to do so, I agree the best one can to is dollar cost averaging. Allocate money you want in BTC and set an interval you regularly buy at.

If Bitcoin is to rule the world, both approaches will work very well.

Maybe this can help you too if you think you can quantify a few things: http://www.investopedia.com/terms/k/kellycriterion.asp

This does help-- thanks a bunch.