Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Simple solution. Take, say, 10% of your "new" profit on the way up.
Say you have 1000 as a baseline, you go up to 2000, you take out (2000-1000)*0.1 = 100.
Now you go from 1900 to 3900, and take out (3900-1900)*0.1 = 200.
Say you have 1000 as a baseline, you go up to 2000, you take out (2000-1000)*0.1 = 100.
Now you go from 1900 to 3900, and take out (3900-1900)*0.1 = 200.
That's what JayJaunGee told me he does, and that's indeed a very powerful strategy. I got almost 7x, and if I had taken 10% out I would be much more relaxed now.
This strategy allows you to become rich and protect you from becoming poor lol
Provides some insurance without gambling too much of your stash.
You can find an amount that works for you, including a similar ratio that is cashing out 1% for every 10% the price goes up.
Of course, if you might become less nervous as you are able to have bitcoins and cash stacked up, and accordingly, you might later begin to attempt to wait for BIGGER ranges.
Some folks suggest that you might not want to cash out any BTC until it reaches at least a certain point, such as 2x or 5x, but in the end, it is good to tailor your own thinking and comfort level on the topic.
I structured some of my initial ideas around rpietila's simple sane savings discussion in this thread. Ironic, perhaps, that he would be a "sane" recommender... hahahahaha
https://bitcointalk.org/index.php?topic=345065.0
I found much of what he said fascinating..when he wasn't frying balls. Later..not so much. Here Jjg..some light reading for in between candle watching..
http://consc.net/event/reef/huntkicking.pdf
If only I read this and realized the risks earlier. I continued to hodl nearly all my bitcoins and alts. And now it seems I need a job in 2019.
Do you people think NASDAQ will still list bitcoin?
Why I panic sold 13 BTC like a small 9-year-old girl (with much sobbing). The whole idea of crypto was to retire 3 years early (2.5 years to go) before full retirement on traditional investments and
social security at 66 years and 2 months. (thus still 'hoarding' crypto....was mining..that boat sunk, along with altcoin angle. Sigh.)
As much as I like crypto and BTC etc and HODL mode, I like not working for any 'idiot boss' much better.
Did sell ASIC equipment for 4 BTC, so my 'panic 9-year-old sell' of 13 BTC is now only 9 BTC.
Chump or Champ. I'm always in one camp or the other camp.
I swear, I should make all decisions on cyrpto with a 'coin toss', I'd likely do 'much better'
FML