Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
I envy those that can actually trade the short term waves with enough consistent certainty to make a better long term profit than just holding. I'm not sure I've ever actually met one of those mythical traders, they might be unicorns. 
If aiming realistically and conservatively, it doesn't take a unicorn to do that. I guess more than a few such people are reading and writing these very pages. It doesn't even take a WO peep (well, just as a brainwasher maybe). Case in point: JJG's mom could do that almost in her sleep, but decided not to be bothered cause she prefers to enjoy life.
If you can learn the difference between a bear market and a bull market (hint: we are in a bull market) then you can trade for a profit. Dollar cost average in in a bull market. Dollar cost average out in a bear market.
If you cant tell the difference, then sit on your hands.
This is the opposite of JJGs advice because you buy on the way up and sell on the way down. The difference is JJGs system doesnt require you to make a judgment call. Mine does.
...which has made me very, very rich.......
it's not yours until that profit is taken and taxes paid (if you live in a jurisdiction with cap gains taxes).
Wall street refers to a large profit of a lucky individual investor as "a loan".
A deviation to the upside in most cases is followed by a deviation to the downside.
Taking a large profit and/or not playing at all after deviation to the upside is the only way to beat the odds, IMHO.
The problem is WHEN to take such large profit. In AMZN you had to wait more than 20 years to get the 'full" benefit.
IMHO, Bob's strategy was brilliant: get in very low, then take out a large enough chunk to matter, ride the rest, at least for a while.