Bitcoin - Raising Cash!
Mis à jour
Hello my fellow Bitcoinistas!
For those of you who follow my work you know that I have been long for a very long time. All the way from the bottom around $3200 and have added longs to my position at strategic points on the way up. Occasionally I have scalped a few bucks here and there but mainly remained long. I am 100% long at the moment after scalping a few Satoshi earlier this morning. That being said, even I, the Bitcoin Bear Slayer, realize prices will eventually take a break, make a pullback etc. So, being the greedy little bastard that I am I plan to take advantage of that foreknowledge if I can. :0)
This is not financial or trading advice, I'm just sharing my thoughts and opinions about what I am doing and why. I think the end of wave 5 will happen around the .618 Fib line. Some are calling for the .786 or higher. Who knows. All I know is the .618 always seems to get some action. So, what I have done is setup a sell order ladder for very small chunks of Satoshi starting at the .618 and incrementing up $100 bucks each rung until I'm done. Then, if things turn down for a bit as planed I will buy it all back at lower prices. A straight up trade for a handful of Satoshi. No leverage, no margin, no nothing. Just sell some now, buy it back later. I will remain 90-95% long at all times. This is just a small scalp attempt for some additional Satoshi in my pile. I also plan to raise some cash at the end of the big wave 5 wherever that may be. When this thing finally does correct with some sort of ABC retrace it would be good to have some cash free to take advantage of the buying opportunity presented. Many say "never commit your entire account to one trade" etc. Well, for me, the ONLY purpose of this particular account is to buy and sell Bitcoin. That's it. It is intended to be used in the manner in which I am using it. Your situation may be different. Again, not advice, just pointing out the obvious. "Having cash available for the next big dip is always a good idea" When and where people raise cash along the way it up to them of course. This is just how I plan to do it if I can.
Good Luck!
BBS out.
For those of you who follow my work you know that I have been long for a very long time. All the way from the bottom around $3200 and have added longs to my position at strategic points on the way up. Occasionally I have scalped a few bucks here and there but mainly remained long. I am 100% long at the moment after scalping a few Satoshi earlier this morning. That being said, even I, the Bitcoin Bear Slayer, realize prices will eventually take a break, make a pullback etc. So, being the greedy little bastard that I am I plan to take advantage of that foreknowledge if I can. :0)
This is not financial or trading advice, I'm just sharing my thoughts and opinions about what I am doing and why. I think the end of wave 5 will happen around the .618 Fib line. Some are calling for the .786 or higher. Who knows. All I know is the .618 always seems to get some action. So, what I have done is setup a sell order ladder for very small chunks of Satoshi starting at the .618 and incrementing up $100 bucks each rung until I'm done. Then, if things turn down for a bit as planed I will buy it all back at lower prices. A straight up trade for a handful of Satoshi. No leverage, no margin, no nothing. Just sell some now, buy it back later. I will remain 90-95% long at all times. This is just a small scalp attempt for some additional Satoshi in my pile. I also plan to raise some cash at the end of the big wave 5 wherever that may be. When this thing finally does correct with some sort of ABC retrace it would be good to have some cash free to take advantage of the buying opportunity presented. Many say "never commit your entire account to one trade" etc. Well, for me, the ONLY purpose of this particular account is to buy and sell Bitcoin. That's it. It is intended to be used in the manner in which I am using it. Your situation may be different. Again, not advice, just pointing out the obvious. "Having cash available for the next big dip is always a good idea" When and where people raise cash along the way it up to them of course. This is just how I plan to do it if I can.
Good Luck!
BBS out.
Note
I am actually scared of getting my fill. Letting go of even just a few Satoshi tugs at my heart. lolNote
I got my first fill at $13,420 :( so sad. My next fill is coming up soon....Note
Second fill $13,480. I think I feel sickNote
Third fill $13,580 :(Note
It's all gone..… Well at least all that I had designated to sell. Less than 10% of my entire long position. It went in several orders between $13,420 and $13,580. Nice average if the price pulls back at this point. All I can do is wait to see if I am right.Note
I always seem to be a bit early on everything, but I can't complain.Note
I guess I wasn't too early. WOW!Note
I filled up my sack again. Whew! I feel better. I make for a better hodler than trader. Nerve racking when you only do it once in awhile. :0)Note
100% Long again....Note
Side note as to why I'd rather be in than out. I sent an email to one of my gold dealers. A very prominent Internet dealer. Kind of like American People for MEXicoTheir website will like you buy gold and silver using Bitcoin. They have done this for quite some time as have other precious metal dealers. However......
I asked them if I could sell to them and they pay me in Bitcoin? They sent a nice reply and stated that they could only pay out in USD.
Hmmmmm so when I buy their gold they will take my premium money Bitcoin but if I sell to them they only want to give me their green toilet paper in return?
I don't think so skippy. I'll keep my Bitcoin thank you very much!
Note
I am truly blessed. My best sell today was $13,580 and my best buy back was $11,380. If I could do that every day I'd quit my real job. lol
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