Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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Well, I actually made my own calculator based on https://jlopp.github.io/bitcoin-savings-plan/. It is elementary java script coding, but it gives a lot of room for experimenting. With it I can plan both sells and rebuys. For example, I can set initial sell sum, which will increase with a specified percentage (with experiments I found to fit best is like 8.2% increase of the first sale amount with every 1% increase of the price). Simultaneously, the calculator shows given percentage drop prices, say 30% below the top, so that I could rebuy with profit which is dynamically shown. My plan is to sell almost all for $6 mil, and the lower plans are used to gain like 500K profits while buyng back all of my bitcoins. I have several plans for sell/rebuys which are easily modified according to market's dynamics, so that I guarantee $1 mil, in case I fail to profit enough and rebuy (I mean I set the tag for 30% drop, but I would really like to get to 50%, which is pure greed and I can't be sure I will control this urge
). I tested it with my mined eth's and it definitely works well, although I have no plans of rebuying that shitcoin again, just for the experiment.Edit. To minimize the effect of the greed while rebuying, I set in the calculator automated price drops 30-50% with the same increasing percetage (like the mentioned above 8%) for the rebuying sums. I have a desparate need for 200K-500K villa with a pool at the sea beach
The remaining money I don't mind keeping in bitcoins, hopefully near the same amount as of now if the rebuy things goes well. The next eventual sells/rebuys will be used for setting a new lifestyle so that I can trust myself more and then leave my job without the fear of losing all on failing bussiness, whores, whatever. Yes, if you customized your own version of such system (chart to figure out price points), then you can attempt to account for potential rebuy points, too, and surely I have been using some system very similar to that for several years.
You can see that the linked chart was "Inspired by rpietila's (SSS) - A Sane and Simple bitcoin Savings plan on BitcoinTalk." Rpietila did not advocate rebuying, but I talked about rebuying in that thread, and so of course, each of us will need to consider what we believe to be appropriate trigger points for rebuying or our willingness to just leave the sales off of the table in the event that the rebuying trigger points are not reached...
So, in that sense, I had agreed with Rpietila in regards that the emphasis should be on taking profits along the way rather than rebuying - even though some rebuying might end up happening along the way, as you seem to be setting up something to plan for that.
One of the problems, of course, with rebuying is that if BTC were to end up going to zero, then your whole systems of raking or taking profits along the way has no longer materialized because you have failed and refused to actually take profits. That would be a potential downside in carrying out such a system that includes rebuying at various points along the way.
