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My position was being steadily adjusted all day Sunday. I had seen enough signals not to wait for the trend to break. At the least, a minor correction was in order -- though I am feeling more bearish than that. I've played two bounces here, mostly for kicks, but my money (outside of cold storage) is generally in dollars while this consolidation plays out.
Was just curious what your take was since one of your signals appeared to have triggered.
My position was being steadily adjusted all day Sunday. I had seen enough signals not to wait for the trend to break. At the least, a minor correction was in order -- though I am feeling more bearish than that. I've played two bounces here, mostly for kicks, but my money (outside of cold storage) is generally in dollars while this consolidation plays out.
Was just curious what your take was since one of your signals appeared to have triggered.
So would you consider yourself a trader (aiming mainly for fiat profits) as opposed to a "trading investor"?
I'm just wondering because the thought had of course crossed my mind as well, to sit out the entire correction/consolidation phase in fiat, but to me it seems nearly impossible to do so without taking a hit to your total BTC holding.
I mean, say you would have optimally sold at ~1200. How long to wait til you're convinced the correction is over? 1000? 1100? Anything later than that, and your total BTC position is reduced. Which is okay if you're agnostic about BTC's long-term price target, but if you assume that in the long run BTC will worth much more, it all becomes a game of what, I think, Rampion called "land grab".
So I don't really feel comfortable sitting it out entirely, only during the most obvious and violent downward movements do I turn (more or less) full fiat.
I didn't mean to say sitting out the entire correction/consolidation phase -- I have been actively trading. I meant the consolidation I expect from the most recent top (995->765). If I weren't working, I'd probably trade more of the small swings -- otherwise I am comfortable in fiat right now. I've got some wiggle room from my last sells and don't expect a re-test of the recent highs in the short term.
I've always got cold storage. But it's currently only 25% or probably now closer to 20%.
I see. Guess we have pretty similar trading strategies and goals then.