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Epic Pennant on BTC Chart

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Posted (edited)
20 minutes ago, invest2lose said:

Lots of speculation that this run could be a major bull trap or the run to 50k. Which will it be?

I think we aren't quite past the danger zone for a retrace. I'd like to see us close and hold above the last big resistance that lies just above where we are now around BTC $11.6-ish. Once we clear that with no sell-off, the sky is basically the limit for BTC imho, until we approach the ATH, which will be another danger zone.

We could sell off anytime though,  if the whales decide to make it happen.  Of course. Always. Until further notice.

A hard sell-off should be bought, imho. Nothing can stop the Duke of Earl...er, Bitcoin. Not right now.

Edited by dr_ed

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3 hours ago, dr_ed said:

The long term chart shows the trend has changed. The bottom is in and we are making higher lows and higher highs.

The daily chart is a very bullish pennant formation that looks nearly complete.

And importantly, these things are occurring on steadily rising volume.

XRP holders will have their day soon.

Exactly.  Thanks!

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2 hours ago, XRPboi said:

Since it will be a price run that is based on speculation/bitcoin (opposed to actual utility), it is safe to think it is a good idea to sell off a portion when we top our previous ATH, right?

I'd hate myself if I held through the next run without selling any (like in Dec 2017), only to see the price crash back down again for 2-3 years.

This is the true million-dollar question, right here.  If/when we shoot past the ATH and into new territory, every one of us will have to grapple with our own psychology and human nature to determine what the right time to sell (if at all) will be.  It's ironic that after months and years of waiting, the true moment of highest risk is the only moment when we ourselves can make a choice.

As @dr_ed correctly pointed out, you don't want to be in a position where you're asking yourself these questions in the middle of a parabolic run, so think about it now.  Otherwise you'll regret it.  Greed and fear WILL take the wheel.

My own personal rule of thumb is that, when the time comes, if the trade is executed correctly, it will feel s**tty at that moment in time.

Would love to hear some other rules of thumb people will use when determining their selling strategy.

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There used to be this guy I kinda knew who traded pot stocks, who went by the handle Rainman..... and he had a long list of trading rules, all of which made great sense. But the best one of all, and the one I'll always remember is...."when in doubt, buy/sell half".

I think about that rule every day, even when I'm not trading.

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Posted (edited)
8 minutes ago, LittleLordFauntleroy said:

This is the true million-dollar question, right here.  If/when we shoot past the ATH and into new territory, every one of us will have to grapple with our own psychology and human nature to determine what the right time to sell (if at all) will be.  It's ironic that after months and years of waiting, the true moment of highest risk is the only moment when we ourselves can make a choice.

As @dr_ed correctly pointed out, you don't want to be in a position where you're asking yourself these questions in the middle of a parabolic run, so think about it now.  Otherwise you'll regret it.  Greed and fear WILL take the wheel.

My own personal rule of thumb is that, when the time comes, if the trade is executed correctly, it will feel s**tty at that moment in time.

Would love to hear some other rules of thumb people will use when determining their selling strategy.

I'll sell 25% when that's enough to pay off our debts (which is quite a bit). I don't have a strategy beyond that, happy to rent a house while waiting years for further gains, as my income can easily cover the payments right now while renting a pretty decent house where I live. My stack is pretty pathetic, though, so I'm long with a margin expecting further gains.

 

Edit: A 500 dollar per month drinking habit and a wife who loves the illicit lottery where I live, so lots of ways to reduce out spendings if we have to :D

Edited by Sirbergan

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5 minutes ago, Sirbergan said:

 

Edit: A 500 dollar per month drinking habit and a wife who loves the illicit lottery where I live, so lots of ways to reduce out spendings if we have to :D

Don't neglect your own physical needs or the well-being of your family.  Just sell a kidney.

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1 minute ago, dr_ed said:

Don't neglect your own physical needs or the well-being of your family.  Just sell a kidney.

My company has struggled for a few years (which is why we have a lot of debt and my stack is pathetic), but my company is finally in a position where things are looking amazing. Came here without much, determined to make their lives better. I'd sell my whole liver if it would secure my family, happy to sacrifice myself to secure their future.

 

All I need is my daily beers and things moving in the right direction. I've always been working to achieve my end game - my family being OK if I'm not in the picture.

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Posted (edited)
14 minutes ago, Sirbergan said:

My company has struggled for a few years (which is why we have a lot of debt and my stack is pathetic), but my company is finally in a position where things are looking amazing. Came here without much, determined to make their lives better. I'd sell my whole liver if it would secure my family, happy to sacrifice myself to secure their future.

 

All I need is my daily beers and things moving in the right direction. I've always been working to achieve my end game - my family being OK if I'm not in the picture.

We are on the same page, my friend, although I was just kidding above.

At my age, it is completely reality based to assume that my partner might outlive me by a decade or more, based on the actuarial stats. This is precisely why I continue to try to make smart investments at an age when many of my friends are enjoying an early retirement.

And although all my children are adults and all four have masters degrees, I do think about how I might leave a small legacy to make their lives better.

But if XRP moons, I probably WILL p*ss away a modest sum on some things that are NOT essentials. LOL.

images?q=tbn:ANd9GcQDDoVHOEYeuwvPkjRP2Vk

Edited by dr_ed

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48 minutes ago, LittleLordFauntleroy said:

This is the true million-dollar question, right here.  If/when we shoot past the ATH and into new territory, every one of us will have to grapple with our own psychology and human nature to determine what the right time to sell (if at all) will be.  It's ironic that after months and years of waiting, the true moment of highest risk is the only moment when we ourselves can make a choice.

As @dr_ed correctly pointed out, you don't want to be in a position where you're asking yourself these questions in the middle of a parabolic run, so think about it now.  Otherwise you'll regret it.  Greed and fear WILL take the wheel.

My own personal rule of thumb is that, when the time comes, if the trade is executed correctly, it will feel s**tty at that moment in time.

Would love to hear some other rules of thumb people will use when determining their selling strategy.

There has to be a methodical approach to selling (in nascent markets) to maximize returns while maintaining adequate long-term exposure. Of course, "adequate" and "goals" are the variables that will vary; but I have a hard time believing there isn't a tried and true approach/algo that has been uncovered that maximizes the returns for you, given your overall short term and long term goals.

If "Joe" has 25k xrp. And he know he wants to hold 5k until 2030, and he wants to sell enough to make $200k - $500k in the short term (during the next run), and hold the remainder of his stash until price is over $50-$100. I'd like to think mathematics and historical market data would help him greatly with this approach, if he had the appropriate information to work with.

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I have invested all my free cash in XRP because I fear the consequences of Brexit on my company and I have a big debt on a project that went wrong some years ago, so my business could fail if we have a no deal scenario.  I am worth a million plus and in my mid sixties.   XRP offers me an opportunity to use free money to straighten out debts and retire and I think the strategy is going to work!  At 5 dollars my debts are gone at 10 dollars I could retire.  I think that will happen within one or two years and I confidently expect to see XRP in the 50s or hundreds in my lifetime.

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53 minutes ago, Sirbergan said:

I'll sell 25% when that's enough to pay off our debts (which is quite a bit). I don't have a strategy beyond that, happy to rent a house while waiting years for further gains, as my income can easily cover the payments right now while renting a pretty decent house where I live. My stack is pretty pathetic, though, so I'm long with a margin expecting further gains.

 

Edit: A 500 dollar per month drinking habit and a wife who loves the illicit lottery where I live, so lots of ways to reduce out spendings if we have to :D

Beer chang mai peng!!! Lets hope your biz takes off in tandem with XRP. 

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Posted (edited)
9 minutes ago, Viggo said:

Beer chang mai peng!!! Lets hope your biz takes off in tandem with XRP. 

Hehe, thanks. I hope you got out of your short in time, by the way.

 

It's Archa beer, cheapest and best - but for some reason not available in any restaurants here. Been drinking it for 10 years, around 7 big bottles per day (in my office, not big on going to bars). Strange how no shops have it when i move to a new place - a week later all the local shops carry it :D

Edited by Sirbergan
Clarification

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Just now, Julian_Williams said:

I have invested all my free cash in XRP because I fear the consequences of Brexit on my company and I have a big debt on a project that went wrong some years ago, so my business could fail if we have a no deal scenario.  I am worth a million plus and in my mid sixties.   XRP offers me an opportunity to use free money to straighten out debts and retire and I think the strategy is going to work!  At 5 dollars my debts are gone at 10 dollars I could retire.  I think that will happen within one or two years and I confidently expect to see XRP in the 50s or hundreds in my lifetime.

Like,like,like,like,like..........

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Posted (edited)

Okay, back to business so the TA lovers won't put us on ignore. Right now BTC might be ready to cool off. Looks pretty overbought by the looks of it. Hard to say if if sells off or if it just consolidates again. Hopefully the latter.

In a bull market, surprises do happen to the upside. 

My best case scenario is that BTC consolidates for a week and the alts like LTC, EOS,  and others have time to pump and catch up.

1458628323_ScreenShot2019-06-25at11_56_19AM.thumb.png.d96e22369c9163ce041711d13bbdf855.png

Edited by dr_ed

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