Quote from: TheKoziTwo on November 20, 2013, 05:42:22 PM

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

Quote from: Blitz on November 20, 2013, 03:05:46 PM

My intention is to warn you guys to practice proper risk management because inevitably, even with a small investment, your Bitcoin allocation will be the main source of your wealth. Marginal utility of wealth dictates that it's more important to secure your first million than to make another.

I've seen it go down from 32 to 2 and it was a really bullish environment too until about 14. Don't fool yourself thinking it can't happen again today. That's just the nature of humans.

+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!

You're asking the right guy for advice.

Here's a few of his pretty good predictions back in july:

Quote from: Blitz on July 12, 2013, 02:57:14 PM

Goodbye, triple digits. See you 2015.

Quote from: Blitz on July 12, 2013, 08:11:36 PM

After this week, I'm not sure we will see triple digits in 2013 again.

Quote from: Blitz on July 13, 2013, 01:55:06 AM

This has never been a billion dollar market to begin with. Triple digit, billion, those are things of a faint past.

Quote from: Blitz on July 18, 2013, 06:25:26 AM

No more triple digits for 2013.

Quote from: Blitz on July 18, 2013, 07:12:45 AM

Noone buys the triple digit lie anymore.

Quote from: Blitz on July 18, 2013, 06:55:42 AM

Looks like MtGox is beginning to shake off its denial and join the ranks of the 80s. This is only the beginning.

Quote from: Blitz on July 18, 2013, 12:24:29 AM

What if the buyer is an established casino firm that wanted to get into the Bitcoin game? If that's the case, then they would've been accumulating beforehand and have been responsible for some of the buying pressure. This would now be gone, along with 350k coins released on the market.

I smell blood.

You actually went through the trouble of finding all those posts and putting them in quotes Cheesy