Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
I have decided to write about what have been my errors during the past bull run and subsequent downtrend till now.
Brilliant post.
I'd say though that people should decide on a price and proportion of coins that works for them and get rid no matter what the market looks like it might do once those targets are hit.
If you can't bring yourself to do that then you either have the wrong price or proportion.
At the $10-15,000 level loads of people will be back in the black and it may sit there and not do much. That's a humongously more relaxing time to do to.
Yes, setting milestones is very important and everyone should do it in some percentage but, even if someone hasn't reached those milestones or extracted enough... when the obvious signs of being in the final phase of the bubble come it is the time to FUCKING HURRY UP
Also, when taking profits, it is extremely important to really "take them" I mean, if you just leave them on the side, you will be very tempted to use them at the very next dip. So, either extract them for good or, at least, set another milestone in which you will use them to rebuy (ie, at half the price you sold, etc) and stick to the plan. It is of course possible, to decide some percentage to be taken "for good" and some higher one for trading/rebuying in the bear market.
That's a nice price target to get some percentage of profits during the next bull run, yeah. I suspect (as d_eddie already suggested) the next bull run will have different price dynamics and much more people will be taking profits on the way up than this time so the uptrend will be smoother and more prolonged in time.... until the final stage that most probably will be as explosive and short as every single time in the past.
Thanks for the comments and positive feedback! When I finish my posts writing about my mistakes I will try to combine it all in one single text and include some of this suggestions. Might come handy during the next bull run.