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RE: important BTC update 21.09.17 - why you should hope for a fast freefall
there is no sure thing. My method is selling the crash, then buying low to hodl. But without elliott waves there is no other good way to determine when it is time to buy.
I guess we are on the same train at this time.
I need a lot of patience you need to continue analysing the waves.
Thanks for the updates.
So you do convert to dollars and not some alternate crypto then? Converting bitcoin to say ETH is still a losing proposition I would imagine. Converting to cashola is "s'posed to be" a taxable event ...no?
Not sure if I understand you correctly here. I don't need to convert anything because I am holding my altcoins till the very end and I don't own any BTC anymore, because I converted the rest I had into steem.
To me the only "effective" way to "trade" BTC would be to convert to dollars at highs and convert dollars to BTC at tradable lows. Since ALL other cryptos (cept the flavor of the week that jumps 50%+ in 1 week like Litecoin did recently) follow the path of BTC you just end up losing your gain in the price of STEEM. If you sold the recent BTC high at $4500+ and converted to STEEM you paid close to 1.50...now STEEM is at sub $1. BTC down much less. I'd rather pay the small tax on the big gain by converting to dollars. What am I missing?
This basically what I always try to do, not just with cryptos. Buy low sell high. But for me is much easier to just trade my OTC where I can get into and out of a position in a split second if I want to. Assuring a much better price compared to buying the real thing which takes some time.
This is the difference investing to hodl and trading for quick bucks
So now you have me confused again. When you say you are trading "OTC" I am ass-ooming you are trading an OTC stock with an actual ticker symbol. What is the ticker?
No it is not an actual stock with a ticker symbol. It is called BTC CFD (contract for difference) and is artificially created by my broker (this is why it is an over the counter deal), but it stays very close to the price action of real BTC. The moves and waves are exactly the same. The highest difference I have encountered was 5$. If I trade 3 CFD, I win or loose 3$ for every 1$ real BTC moves... I can scale it from 0.1CFD to 50CFD. Never traded more than 3CFD though, because of huge risks. I can put an exact stop level, where it ends the trade unless there is an overnight gap. Just pure awesomeness with this kind of vola in BTC... and the spreads are very low !