⭐ Merited by LoyceV (1)
Even though, as an overall strategy, I recommend selling small amounts on the way up and using those proceeds to buy back, in my above post, I am making a different point, which is asking about whether naidray has a buying plan, especially if he believes that BTC prices are going DOWN to the $5,150 range. Furthermore, as an additional point, I understand that there are a lot of folks who don't want to sell any of their BTC and they ONLY want to buy on dips. I completely understand that kind of "don't wanna sell any" inclination.
I've sold about 0.5 Bitcoin for 200-ish dollars a few years back (I still regret this, but I learned from it). Now I have a different approach: I sell a small bit every time Bitcoin goes up 18%. Since I started keeping track, my schedule shows (in euro) sales at 3k5, 4k2, 4k9, 5k8, 6k9, 8k1, 9k6, 11k3, 13k4 and 15k8.Since I only sell small bits, and since the current price is still much higher than my early sales, I see no reason to buy back more. I made this schedule because I realized I'm terrible at timing the market.
Or, as I've said before: I'm not buying, I'm not selling, I'm just enjoying the ride. But I do enjoy the ride up more than the ride down
I modeled my approach from rptiela's Sane and simple savings thread , and in sum he had suggested raking profits every 100% to 200% increments, but establishing a plan. And, such plan for 100% price increases might be something like 10%. I modified that to be more than 1% for every 10% price rise, and I figured that I could do more than 1% because I would be buying back on price falls - and he seemed to largely advocate completely removing profits from the table and either investing them somewhere else or enjoying the proceeds. Surely no one can be opposed to those kinds of ideas, but it is also important to attempt to tailorize any approach to one's own financial circumstances, views on bitcoin, risk tolerance, timeline, etc.
By the way, even though rptiela surely had issues in 2013 when he posted those ideas, his personal circumstances seemed to have had devolved considerably subsequently..