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.
Are you trying to ruin dee moo, Biodom?
If a person has value in an investment, whether bitcoin or otherwise, there can also be some freeing up of other money/value... or at least freedom to spend money in other locations, whether in a bank account or other resources, because he knows that he has the value in the investment, such as bitcoin.
Of course, he can make adjustments to the value on the investment depending upon the hypothetical time that he is going to cash it in, or even to have some tentative reservations of the value based on not knowing exactly when the investment is going to be liquidated. Real property tends to be much more cumbersome to liquidate than a 401k, and gold would likely be difficult too, absent having some avenues of liquidation. Bitcoin seems to be much more easy to liquidate, even though some of the liquidation avenues might change from time to time, including the fact that bitcoin is only 10 years old, so liquidation avenues have changed during that time too.. so one of the costs of maintaining bitcoin could be having some ideas about what liquidation avenues might be available for amounts chosen to liquidated and when.
dee moo???
I guess it's "the mood"...
People here are mostly "drunk" with their 10-100X gains and think that it would continue, essentially, forever (until btc is 1-10mil).
I wouldn't mind that at all, but I give this scenario maybe 10% probability.
Much more likely is the next peak at 35-300K (most likely around 150K), followed by a multiyear proper whooping.
What if such whooping will end up not the usual 80-85%, but 95% lower?
200k back to 10k? A proper teeth gnashing would ensue and most people would sell, most likely closer to the lows than highs.
I had this experience before (when Internet boom turned to bust). There were literally no bids for some stocks. Could it happen with bitcoin?
I don't know.
however, for now, you are right, let's enjoy dee moo.