That is a big mumbo-jumbo in the title! 🙂 I don't like abbreviations, but sometimes they come convenient... Like this time, to confuse those who don't understand them... If you don't understand them, that's probably a sign that you should dive deeper, research, and learn... Of course, if trading and investing are something that you would like to dedicate your time to... I'm not that much of a trader, but I did learn a couple of things back in the days of FOREX, following a website that was called babypips, or something like that... Does anyone remember that? It was a great website where you had a lot of material to learn, it would lead you chapter by chapter, where you had a quiz at the end to see "if you are ready"!
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Long story short, I was stressing too much in my "trading days", and I realized that was not for me... When I found crypto and realized its real value, I was searching for tokens that have exactly that, value... Buying chunks of them, but only those that I would be sure that has a value that is/will be needed in the future... When I was convinced that, it would be easier to buy in every dip that would come... And in the bear markets, they do come... 😃 I wouldn't do just DCA (Dollar Cost Average) the token, but rather wait for dips and buy tokens for X amount of dollars...
The "ordinary" DCA is probably the easiest way to buy tokens and not think about... Speaking of that, I remember a friend who said like 5-6 years ago (while I was mining ETH) that he would buy BTC every month for $50... He didn't want to research more, he had his own job, but he had that idea as he saw me "doing crypto". Of course, one thing is to say something, and the other is to DO IT... That "next month when I will begin" never happened... But if it was...
According to https://dcabtc.com/, if he did $50 per month, for 6 years, he would have a BTC worth of 16K USD, with an investment of $3600... Almost 4X without thinking about anything... Not bad at all!
Now, if you would a bit tweak your strategy, invest a bit more time in the research, and ignore the noise, you could probably do much better...
DCA can't help you if you are investing in an asset that goes to zero... and never recovers! (aka many meme coins and shittokens)
I had to BOLD that "ignore the noise" part as most of us are very much exposed to the noise... I remember very well the last bull market when everyone was screaming about how Bitcoin would hit 100K in no time! Well, I was waiting for that to happen, to take some profits out, by "selling the top"! Know what? It's not easy to hit the top (or the bottom)! 😂 Bitcoin went down, and my hopes of taking profits (that TP means "take profit") vanished... At least until the next bull cycle...
The next cycle came and I decided to NOT make the same mistake as before... Imagine what? The same picture is happening on X and other social networks! But this time, we are over 100K (for sure!), and on to 250K, or even a million! And all that until the end of the 2025... Well... Maybe it will happen, maybe it will not... I don't have a crystal ball...
So, learned from the past, I began to DCA out some of my investments... When I got into crypto, there was a guy creating YT videos, and he said something very interesting that stuck in my brain... In the bull market, he was spending his BTC, and his USD value on the debit card was going up! Nice story, but it works only in the bull...
The other story was from another YT that I was following... He explained that the good way to take profits is to take a certain % of your assets out, after big pumps (that used to happen in crypto)... So, that's something that I began to do during this year... I made a spreadsheet with prices where I would sell a certain % of an asset, just to keep myself accountable, and not hesitate! Ignore the noise and execute!
The thing with that approach is that I would sell, for example, 5%, of my BTC bag when it hits X price... The next time, I will send 5% (OF THE REST of the bag) at Y price... In that way, I will never be "out of the market", which can be the biggest fear of investors...
If the price dips well below, I can always buy some tokens more...
This is what I am doing with my crypto assets and it's not financial advice of any kind! Don't follow blindly anyone, but invest your time in research... Find the best strategy that works best for YOU!
Let's see the WorkerBee Pool numbers for this week...
This week we have mined 94 BEE tokens in total... A bit less than usual, which means that we should do better next time!
For the third week in a row, we have a new delegator! Welcome, @hellene8 to the pool! Nice to have you here!
As usual, we got more delegations from old members... Thanks guys! Appreciate your support!
This POOL doesn't have fees and you get up to 20% MORE by delegating to it!
What about the bonus tokens?
The STARBITS token got hit a bit with this uncertain market, but still, holding nice... Yesterday was December 1st, which means new cards in the @risingstargame and sometimes, we have some nice pumps around that day... Anyway, if you are playing the game, the price of the packs is still the same (in STARBITS), so with today's reward, maybe you will be able to buy some...
There will be distributed 1.75 million STARBITS tokens to the delegators of the pool as a bonus reward today!
As always, in the end, let's give the exact numbers for this week... 94 BEE tokens and 1.75M STARBITS tokens will be distributed as a bonus... The APR (without the bonus) was 7.510%, and when we added the bonus it went up to 9.014%!
I have calculated the ROI approximately with medium prices for all tokens at the moment of creating this post... So, those numbers are valid if you bought WB and sold BEE tokens at the middle HiveEngine price...
Do you want to sponsor the PH-Pool with your tokens, receive a short SPONSORED segment in this post, and raise awareness about your front-end or dApp? Please let me know in the comment section, or contact me through Discord or Twitter and we will find the best solution for both parties...
If you want to join the WorkerBee PH-Pool, the only thing that you have to do is to STAKE tokens to YOUR account and DELEGATE your staked WORKERBEE tokens to THIS account (@ph1102)! Every week you will get your portion of mined BEE tokens and BONUS rewards!
.:. DO NOT STAKE TOKENS TO MY ACCOUNT!!! Just DELEGATE! .:.
All payments will be made after publishing this post...
If you have any questions, please leave them in the comment section!
You can find more about this pool in the initial post here https://inleo.io/hive-119826/@ph1102/workerbee-p-h-ool-let-s-help-each-other
Thank you for your time,
--ph--
None of this is financial advice!!!
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Im glad you told us what TP meant! haha Great work to stay disciplined and TP with all the euphoria around us. We often get greedy wanting a little bit higher and think these high prices are the new normal and then its over and we missed it. Timing tops and bottoms is anyway nearly impossible except by luck.. I cant wait to take some more profits, hopefully I wont miss the bus, i havent DCAd out this cycle yet, but have been thinking about it instead of all in 1.
When I didn't know what it means, I was thinking the same as Butthead! 😃 😂
All in (or out) one was the way I was doing... But, as I said in the post, I missed the complete cycle... and 4 years without taking profits is painful... Especially if you want to live from crypto... 😃
Hehe I agree 😃 Great post, I also sold too little last cycle, but this time I will also dca out, suddenly it is over as you say. And great points @mypathtofire, yes bottoms and tops are impossible.😂 But spotting the reversal is easier.
When you spot the trend, it's easier to accumulate or earn more by small trades. But going IN or OUT is a bit more difficult, especially hitting the top or the bottom.
Yes 😃
I remember buying Kucoin at a lower price sold it all for a few profits. Checking the price now is at $12 if I have an emotional attachments I will cry or hate myself for selling too early (no regrets). Lesson here is HODL get diamond hands do not capitulate. Believe in something choose wisely and diversify!
Selling early sucks, but selling late, with a loss, sucks even more... :) So, no regret and no looking back! 😃
I think your plan is solid. Sell some and take some profits as the price goes up. We don't know where any of the tops are but at least the profits are locked in. It's could work out even better if it's a free trade where you recouped your initial investment at the start.
Thanks for running the pool and for the BEE/STARBIT tokens.
Oh, yes... That's perfect... when you take out your initial investment and ride the wave up... Slowly taking out profits... ;)
I think not listening to the noise only works in the very best case scenario :-). It's difficult not to be affected at all by all the fomo and fud going around.
That's why I wrote down my TPs in the spreadsheet... Was following my rules, but as you said, not always... Sometimes the noise is too strong... :)
What you think about HIVE? We receive HIVE with our every author or curation rewards, they might 4x or more one day as BTC and some other coins ;)
I wrote about my views on HIVE last week... I didn't sell any for a long time (except to get more on the way down 😃), but in general, I keep HIVE out of my "taking profits" for a few years more...
All in all, if all tokens go up, HIVE will go up too... That's what I said before, and that's what happened in the last month or two... As a matter of fact, HIVE did much better than many others...
But, I can't say anything about TP from HIVE as I don't have a strategy for that at all... I'm focused on accumulation... 🙂
Exactly, one cannot DCA into a meme project. With a meme coin, you're always watching your back so you don't get rugpulled and all that.
But I like the calculations you did with 50$. Imagine earning x4 your investment in 6 years without needing to overthink it or learn a special skill
It's amazing how simple is that... and we overcomplicate things so many times... 😃
crypto is kind of gambling, you bet it will go up when buying basically, so either you are really expert or you are doing a bet
it's surely less stressfull than trading where you need to daily buy and sell for profit tough
It could be like betting, but when you do some research you can raise probabilities to your "bet"... With real gambling, you can research whatever you want, if you are unlucky, you lose... 😃
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Thanks for making it easy to be a part of what you are building. !BEER
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Thanks for the update and tokens!
After a mess last cycle where I just held all the way up and all the way down, I did start to DCA every single day back in early 2023, starting from zero. Currently I am DCA-ing out already, but it will probably take a while as well. I feel it works better because it's so systematic and I don't have to time the market and think whether is it a good time to buy or is it a good time to sell. I might not be able to exit at the best price, but I guess no system is perfect.
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Never buy in hype otherwise we will never be able to get profit from this market.
That's a good reminder and plan that needs to be put into action without regret about potentially missing out on future gains. Most people will always overestimate the extent to which the price action will go.