1/ To those who recently bought $BTC or $ETH, or any $crypto for the first time and are killing it right now:
Congrats, but you're only half way there.
Selling too early or not at all can be just as devastating as buying too late.
Congrats, but you're only half way there.
Selling too early or not at all can be just as devastating as buying too late.
2/ If you don't have a plan to sell or you think you'll just #hodl, you're making a big mistake.
FUD and pressure to FOMO sell are coming. Be prepared.
Here are two quick suggestions to help you preserve gains and avoid the costly mistakes I made during the '17/'18 bull run.
FUD and pressure to FOMO sell are coming. Be prepared.
Here are two quick suggestions to help you preserve gains and avoid the costly mistakes I made during the '17/'18 bull run.
3/
#1
If you have a mind AND genitals of steel, just forget you own any crypto. Come back a few years from now and enjoy the fruits of your labor.
Since we know you can't do that...
#1
If you have a mind AND genitals of steel, just forget you own any crypto. Come back a few years from now and enjoy the fruits of your labor.
Since we know you can't do that...
4/
#2
Pick a longer term moving average and when the price drops below...sell.
This removes the emotion from the decision, limits downside, and gives room for appreciation.
Also gives you a reentry if price turns back around and crosses above your MA and you want to re-buy
#2
Pick a longer term moving average and when the price drops below...sell.
This removes the emotion from the decision, limits downside, and gives room for appreciation.
Also gives you a reentry if price turns back around and crosses above your MA and you want to re-buy
5/ For example, you might decide to sell $BTC when the daily price closes below the 30 day exponential moving average (EMA).
For alts with higher volatility, you probably want to chose a shorter time frame, like 7 or 10 days.
Google "trading moving averages" and DYOR.
For alts with higher volatility, you probably want to chose a shorter time frame, like 7 or 10 days.
Google "trading moving averages" and DYOR.
6/ You may think you can pick tops or bottoms, but that's a fools errand.
Sure, we all get lucky sometimes, but not consistently without practice and a strategy.
For example, look at daily charts for the '17/'18 bull run. $DASH $IOTA $XRP and $ETH are great examples.
Sure, we all get lucky sometimes, but not consistently without practice and a strategy.
For example, look at daily charts for the '17/'18 bull run. $DASH $IOTA $XRP and $ETH are great examples.
7/ (@tradingview and @cryptowat_ch are two great tools)
How would you have timed those tops/bottoms perfectly? You wouldn't have.
It feels like crap to #hodl some POS alt coin to near $0 and similarly as crappy to sell it at $.30 a week before it hits $4.
How would you have timed those tops/bottoms perfectly? You wouldn't have.
It feels like crap to #hodl some POS alt coin to near $0 and similarly as crappy to sell it at $.30 a week before it hits $4.
8/ By the way, a quick note on that POS alt coin...
I know you think the whole world will use it.
I know the press releases, articles, and crypto commentators all make you feel like it will change the world.
Odds are, 9/10 times it won't.
I know you think the whole world will use it.
I know the press releases, articles, and crypto commentators all make you feel like it will change the world.
Odds are, 9/10 times it won't.
9/ Back to moving averages: You will always leave some money on the table (sell too early or too late), the question is how much.
Make a plan!
Make a plan!
10/ Quick shout out is due to @PeterLBrandt for making me aware of moving averages and their long-term potential in crypto, and as a result making mine and my family's financial future that much brighter.
If you don't follow him you should.
If you don't follow him you should.
11/ A few of my other favorite (read "thoughtful") individuals who I owe a debt of gratitude and terrific to follow are:
- @AriDavidPaul
- @cburniske
- @woonomic
- @dan_pantera
Good luck!
- @AriDavidPaul
- @cburniske
- @woonomic
- @dan_pantera
Good luck!
12/ How could I forget @RaoulGMI?!
New to crypto but not new to the game.
Open-minded (which as you know is unfortunately rare) and super insightful.
Guaranteed 💯% return on your follow.
New to crypto but not new to the game.
Open-minded (which as you know is unfortunately rare) and super insightful.
Guaranteed 💯% return on your follow.
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