BITCOIN UPDATE (BTC): My PROFIT TAKING SELL LADDER
Good morning, I'm a bit late posting today due to client meetings. Here is my profit taking sell ladder and rungs for the last 1/3 tranche of my Bitcoin holdings. About 75% of coins are tageted within the dotted white lines and the rest are evenly spread around the dotted blue lines. Notice how my rungs encompass a wide range and that's good as this method removes FOMO, Fear and Greed emotions.
Many retail traders have a very difficult time to actually buy low and sell high. They understand it and want to practice it but fail. The two emotions, Fear & Greed, prevent this from being executed. It's these emotions that overcome the logic to sell when sentiment is giddy and buy when fear abounds. Right now, Bitcoin sentiment is very giddy and being in wave (v) of 5 of III; it's exit time with all my well earned profits. What is clear to me is this: now is NOT the time to be taking BUYING actions but rather it's time to be taking SELL actions.
If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTC Wallet - 19gHMJc9wi9KkP47wokz8y4cFNgz1kAAUE
ETH Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
LTC Wallet - LU1mEw1LHvffoWf9VDEVdP7Day4jv6VLqu
EOS Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
You know there can be an extension in your red iii or red v. It could go waaay above 7000 before this wave ends. I am still buying
I wish you MASSIVE profits.
You too! I am not stupid though. On the first big drop H1 candle I am out and move to BCH
People often don't fail to sell high. I know if examples where people have made a killing, sold high, then regretted it as the price goes higher, worried about missing gains and the price going up forever, bought back in at exactly the worst possible time, then rode it all the way down.
I like your method of removing all emotion from the decision. Make your calculations, then set your trades and sit back.
That's painful and reflects zero discipline or system/strategy. Truly tragic and I've had those experiences when I started. But, the key is to learn from those failures.
Thanks for your info. One question though: I don't see blue lines and there are two sets of dotted white lines? Maybe I am just too newb to understand this though
Any explanation would be appreciated, thanks.
There are blue dotted lines. Each dotted line represents a price point for a portion of my profit taking sale. The dotted white lines combined have 75% of coins for sale and the rest are evenly divided into the blue price points.
Thanks for replying. But I must be blind or maybe my screen is faulty because I see just 6 white lines and 3 green lines?
Green and white here!
Green will be the same as the blue for me.
oooh well boss, for the rest of us, its green :p
Love the confidence. I am seeing how you can set the trades up before any moves happen and no emotions get involved. And in the bull market if you do misjudge all it costs is time.
Been looking into NAV coin, wondering if you see a pattern setting up?
And I'm still waiting for the XLM break but I bought more on dips, looks like its back to yesterdays levels now, its waking up.
Ty, such clear mindedness
Haejin, are you calling a retracement to happen now before hitting the 5k target? Do you not think that this way will push to 5k before retracing?
Here are my thoughts:
https://steemit.com/bitcoin/@haejin/bitcoin-btc-update-ew-micro-counts