Here’s a simple truth about trading:
~90% of people trading assets lose money because (a) they have no long term plan, and (b) because they have no plan, they constantly feel stressed about their holdings and market volatility, and (c) that stress destroys patience and inevitably leads people to make bad trades.
The successful traders who constantly make money, do so because (a) they have a plan, so that no matter what way the market goes, they're ahead, and (b) they cost average, and (c) because they have a plan, they aren’t stressed all the time, but are ready to act rationally at the right time: Bitcoin is crashing? great, let’s buy a little. Bitcoin is spiking? great, let’s sell a little; and (d) they aren’t following the crowd.
Truth is, those who are consistently making money with trading, are not going to be telling anyone else what they’re doing specifically, for a number of reasons, with the biggest reason being that the markets are a place where the impatient give their money to the patient. Trading is about timing, and to be sure on your timing, you need to have a plan in place. That plan is never to sell all your holdings at once, but to sell set amounts at predetermined prices, and buy set amounts at predetermined prices, and keep track of your cost average. Someone who does that will be successful long term. Making the big moves and scoring piles of money on a trade is luck for small fish, and every day life for big whales that move prices themselves.
So should you sell all your bitcoin now and hope to get lucky?
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