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Spekul8's Journey of Trading


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Hello guys, I wanted to start a discussion here about XRP trading. Specifically, trading psychology, trading strategy, risk management, cash management and exists. While many of you are savvy if XRP fundamentals, it is equally important to discuss how you manage the capital you have.  

Two things: 

1) I have a sincere wish to help. This does not mean that I am always going to agree with you. 

2) I am not arrogant, neither do I claim that my methods will work for you. They worked for me, and I share them. This is NOT trading advice.  

Looking forward to developing topics and discussions here related to the topics above. 

Finally, I have developed a blog here: https://spekul8.wordpress.com/  Since I trade stocks, futures, and Crypro, I will cover all those on the blog. However, here I will post my thoughts about Crypto only.    This is a new blog, so forgive the appearance. 

So my first question is this: What is your biggest challenge when it comes to Crypto trading? Let start developing topics from there. 

Looking forward to a productive discussion. 

Spek 

Edited by Spekul8
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Challenge: When to exit, whether partially or fully

EDIT: That's a partially loaded challenge, as it varies between us based on our won desires, so I know the partial answer. My own opinion is of a slow sell in-line with price rises

Looking forward to this thread

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7 minutes ago, ripplewaytogo said:

Patient! 

Patience is a virtue, but for the excitement that happened over Dec/Jan, these low periods can seem a little boring. I'm taking this low period to accumulate a little more and broaden my understanding of the history that precedes this new world order that I believe we may be on the cusp of.

EDIT: I read a JC Collins article or two yesterday, specifically Bretton Wood, so I'm a bit TFH ATM

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I quite like the look of the blog actually. Only thing I'm missing is an email signup. 

And I second @essexboyracer's question, the biggest headache for us non-trading folks is when to get out. 

I understand we can't pick the top, but on the way down, it often looks like it's going to recover. Any way to tell at 1.80 or at .89 that it's headed all the way to .43? 

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1 hour ago, jcdenton said:

I quite like the look of the blog actually. Only thing I'm missing is an email signup. 

And I second @essexboyracer's question, the biggest headache for us non-trading folks is when to get out. 

I understand we can't pick the top, but on the way down, it often looks like it's going to recover. Any way to tell at 1.80 or at .89 that it's headed all the way to .43? 

go to the top of https://spekul8.wordpress.com/ where it shows the three horizontal lines. Click on it. It will give you an Option for an email sign up. 

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You guys inspired me for a short one: https://spekul8.wordpress.com/2018/07/29/speks-7-rules-of-trading-and-investing/ 

These the trading rules that came to mind. They are hard to follow at times, but I do hope they help you and it sends you in the right direction.  Will answer any questions you may have. 

Spek 

Edited by Spekul8
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3 hours ago, essexboyracer said:

Patience is a virtue, but for the excitement that happened over Dec/Jan, these low periods can seem a little boring. I'm taking this low period to accumulate a little more and broaden my understanding of the history that precedes this new world order that I believe we may be on the cusp of.

EDIT: I read a JC Collins article or two yesterday, specifically Bretton Wood, so I'm a bit TFH ATM

I will believe accumulation should happen when you see a little more growth.  Don't be afraid to miss the trading. My 2 cents. 

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