Bitcoin is down -20%. Isn’t that like the most normal correction ever? and really not big considering this is a 60 vol asset? now the alt coins … mostly a deserved disaster.
So is there a point where you sell the other 50%. I'm all about protecting capital. When things don't go the way I expect, I take my money off the table. I would rather see the market go up with me on the sidelines that have it go down with me fully invested. I figure the decision to hold is the same as the decision to buy. If you wouldn't buy a stock why would you hold it?
I think the market is short term bearish, long term bullish, and that's the risk I take. If you don't firmly believe Bitcoin will soar higher than it was before than take your money off the table now. Right now we are odviously in a bear market. And to me trading is the best way to handle it. Not only do you protect your assets but you make money at the same time. You listen to what's going on with the news and trade accordingly. Because all this price action that you're seeing is mostly news driven. The charts are important but the news dominates the charts.
Look it up bud... @johnarb wanted to bet I was wrong. I have proven how clueless you guys are time and time again (2008 Lambo)
I'm not sure where BTC is going, so I'll sit on the sidelines. As far as stocks go my system has had me selling for the last little while. I'm 70% in cash earning 5% Trading the news has never worked for me as the guys making the news always have the news before I do. I trade the trend and when the asset is not trending I step aside. You didn't answer my question. Is there a point where you sell the other 50%?
[/COLOR] Yeah, I'll probably when we retest the ATH or if we go down I would probably find out what is causing it and go from there... [/COLOR] 5% is decent. And any normal person can find out the dates of major news events, there's sites on social media that will have breaking news and events.
The problem is that by the time us normal people get the news it has already been acted upon by the guys who got it earlier.
Not at all. You can find out the dates of the major news events, you just have to know where to look. And usually you will already have a clue on what will be said at these events. And when these events hit, you can make a decent percentage. Like right now you are making 5%, and I bet it's annually. Which is ok, but wouldn't it be better to make 5% every time you trade?