RE: 12/24/2017 The Market View and Trading Outlook
The last week or so has really proven to me just how much better trading is compared to long-term holding. I hover around the double mark of my principle investment... but a week or so ago I was around 150% of that principle investment and had the thought of reverting back to fiat... but again, like you consistently warn, I got greedy (and didn't truly understand the impact the whole BCH/GDAX thing would have on the market) and now I'm just holding bags waiting for the market to rise.
In the long term, it doesn't really matter... but had I reverted back to fiat at the end of each trading session I'd potentially still be at 150%.
I actually bought some BTC from Coinbase and the transaction fee to transfer to Bittrex was $42 for $200USD worth of BTC. Screw that.
Yeah, that a ridiculous fee and pretty much makes BTC useless if you lose nearly 25 percent of your investment just to move it from point A to point B.. You need to make a couple good hits just to recoup the fee. That why I'm using BCC more.. which may lend to my conspiracy theory or it may be nothing. I guess one of the big tricks is to have no love for the coins in regards to trading or holding. If your up, your up.. sell and walk, go get a wristie and have a beer.. I learned a long time ago that being greedy gets you slaughtered.. Especially because it dips, so you wait for it to come back, then dips, again, so you wait, over and over until you turn a good position into an average on or worst case a losing one.. Death of 1000 cuts.. Have no love and sell.. convert paper to real profits..I'm dicking around and playing with Alts today, which I rarely do; small, small amounts.. $200 bucks or so.. on certain coins.. using my LTC profits :) :) since $40 to play around.. Probably spend the rest of the day studying.. Got a new Elliot Wave book, I want to read and go over...