You are viewing a single comment's thread from:
RE: 12/7/2017 The Market View and Trading Outlook
I was intending to hold my crypto for the very long term... but I'm now wondering if I should liquidize the lot of it and wait for the obvious price correction to buy back in.
Made way more than I ever expected from BTC, ETH and EMC2, while the others have grown nicely SALT, OMG.
I'm not a day trader, but I am finding this crazy, crazy rocketship super nerve-racking.
I take it you are beginning to feel the flashlight pressed against your back; lol. It's really a matter of risk vs. reward.. If you still own the underlying commodity you have no profits. You have paper profits, but nothing more. When you sell the commodity and convert to FIAT you have profits.. One thing I have learned is Greed will get you slaughtered, as will panic selling; lol. That said, you mentioned you are happy with what you have done, made way more than expected etc.. So why not bank some of it? So what if you sell, protect your Capital and the price goes up.. Who cares.. what did you lose? Alternatively say it flies the other direction because you wanted to milk out every last drop? What have you lost then? What I'm saying is. if you sell when you are up, you never lose. This mentality of I have lost when I bank my profits and the price goes up is the same mentality that is feeding the current market (FOMO).
Just take your capital, wait for another spot to get in and move in when the risk is considerably lower. I'm not a fan of sitting on a dildo shaped Bitcoin landmine at the moment. I'll wait and make my points on corrections and proper buy points. Look at LTC for example.. BTC is up a hundred bazillion percent but LTC did not rise accordingly, in fact its not feeling the gains, but it is taking the loss. It did the same thing down to $49.00 last time and $75.00 the time after that. Regardless of whether or not LTC is a valid crypto, serves a purpose etc. Rats jump ship on all cryptos when Bitcoin eat a dick, well maybe not all but 80 percent..
In all actuality there is no real reason for LTC or ETH to eat a dick when BTC crashes... Does Ford Stock Crash when Toyota's does? No they are different companies in the same industry. Crypto is not like that, with Crypto if Ford has bad earnings, then Mazda, Chevrolet, Toyota, Nissan, Ferrari etc.. all eat a piece of the shit pie. So to that end, sell or don't sell.. that really on you.. it's a matter of how much risk you want to carry. Be a squirrel and bury your nuts till spring, or be a Las Vegas hooker trying to milk every drop only to get a herpes infected blast to the face; sure there are condoms, but like bubbles they sometimes break..
Hahahaha, there is so much amazingness in this comment. I almost want to frame it.
The comment I made below I actually wrote before this page refreshed and saw your comment. So while I agree that maybe I should have just taken the principle out... as a very novice investor I wanted to bask in the joy of my profits while I'm travelling. I'm going the squirrel route until I can spend time properly analyzing the market... which will probably be a week and a bit from now... also known as one billion years in crypto. Who knows what Armageddon landscape I'll come back into. I'm hoping Mad Max-esque.
I'm hoping for post apocalyptic myself..
.
Aw yeah, I'll see you in the rubble.
Yup, trying to figure out which company will get the contract for rebuilding...lol
I actually did sell everything off just now. I've made 27% profit on my initial investment and will just sit in USD until the market settles a little. The common consensus around the traps is that something big has to happen in the next couple of days... which I'll be travelling a lot in. I'll probably miss some profits, maybe a lot, but I actually feel alright with my position... I'm now both profit and crash proof.