Basically you need to make 2 big decisions in a 4 year cycle.
1. Convert btc into alts ( the best time is 1 month after btc ATH )
2. Sell alts into usd ( the best time is when BTC close bellow 18 week MA )
That is it. That is the plan
My latest youtube video for @AlphaBetaSoup_ covers what I'm looking at on the Bitcoin price chart (not much changed since late August), how bull markets have performed with rising 10-year yields, and how FOMC week might impact the rally.
YT link in the retweet below
My comprehensive analysis of BIP-110:
* Why it's reckless
* Why it's irrational
* Why it's doomed to fail
* My predictions for what will happen
* My recommendations for how to proceed
https://t.co/3GjbIftZep
The saddest tale of the Silver market is yet to come
There are those reading this that postponed buying Silver until this week, when you just could not stand watching the market go up everyday
So you caved in and went long -- probably above $105k
Now that the market has broken down you refuse to sell at a loss. You are determined to regain your losses. In fact you are telling yourself you will buy more at lower levels
But the reality is that you put in the top, and now you will put in the bottom
The market will not recover, but have false hope rallies
You will finally puke out your longs near the bottom in the next few months, promising yourself to never trade Silver again
It happens in every huge bull market in commodities. Always has, always will
You will never be able to hold something long term if you check prices every 5 minutes. Holders have the easiest job, do nothing. If you can't hold without checking you are either too exposed or you don't have enough conviction in the trade.
@BobLoukas What is your definition of real wealth ? Serious question , the tweet is exactly about me . Would be happy to hear your thoughts if not here , then on https://t.co/INCXKsCSGX maybe
Here's a scenario: Your dream one day is to make a million dollars from trading and after a few big years of amazing trades and bullish conditions you are at $875k. Do you stop or do you keep going? Just a few more trades and you could be a millionaire though...
So you take those trades and they don't work out, and now you are are at 725k. Not a big deal, you've made so much it's almost like the money isn't real. Just a few more trades to get back to that $875k and you'll for sure stop this time. A few aggressive traders later and now it's down to $600k. You are pissed. You feel like you lost a quarter of a million dollars. You can't even fathom that you are still up so much money because the big losses just cut you deep. You now start feeling like you have $500k, it's now double to get back to your goal. You were so close but now feel so far. You start begging and pleasing if only you would just go back to $875k you would 100% realize profits. You would never make that mistake again...
But those were just unlucky trades right? The market was rigged against you, you are a genius, you made it this far, you are due for some bigger trades. You get back to $700k, you were right, you are a genius. That was just a dip in the account, that was the test, and maybe a million is too low of a goal. A few trades later $800k. No way, you are doing it, you are going to be so rich again. You start flexing your big wins on Twitter. You get back to $875k and you are elated! You are a genius. You are the best trader alive.
You now are back at the same situation. You promised and pleaded with the universe that if you got it all back you'd cash out. But look at how easy it was for you to make it all back. A few more trades and you'll be a millionaire. You know you can do it, if you hit a million you will definitely stop though. That's the new rule: stop at a million.
You start losing again, down to $750k. You get pissed, you are an idiot, you broke a rule with yourself. You had two chances to cash out. That's it, one more big $100k high leverage trade, get back to $875k and you are cashing out... It doesn't work. Down to $650k.
You feel devastated. You are back down to $650k again after failing two times to follow through with promises. You can't even grasp the fact that you are still up $650k, you can only visualize losing $250k two times which feels like a half million dollar loss.
That's it, you want to be done trading... This is too stressful you tell yourself, you are hungry, you are a genius trader, you have a plan. Why not just take a big $500k trade, you'll hit it and walk away a millionaire and can laugh about it. This is it, this will be the screenshot you flex on Twitter. No one will know of your mistakes, you will be praised with your massive PNL. You can buy any car you want and show up to Dubai to party with all the rich guys!
The market takes a massive dive, it doesn't work out, you get liquidated. You are down to $150k and the $130k lambo you ordered just emails you "Congratulations, you car is here for pickup and payment is due". You are numb. You dreamed of this car and now you realize you'll have to sell it. You went from the highest highs to what feels like the lowest lows. No matter how you rationalize it you just tell yourself you basically lost a million dollars. You've wasted years of your life trading. It feels like it's over...
There are so many stories like this that you won't hear about. You'll see the screenshots of the big wins but won't see all the losses behind the scenes. Many will start off trading and eventually turn it into gambling. Don't allow yourself to get into positions where you can undo all the work you've done. The more you make the less risks you should take. Buy appreciating assets, diversify, and don't be afraid to cash out on the way up. Being a degen might work with making you money but the longer you gamble and take risks the closer you become to losing it all.
Just remember if we get low IQ trading season here soon don't forget to turn your brain back on if you make life changing money. There will never be a dollar amount that satisfies you so remember that before you roundtrip it all when greed convinces you to chase one more zero.
Sell when your portfolio reaches your target, not when you think the market has topped. Trying to sell the exact top is how you become a bag holder on the way down.
Sometimes you need to be kicked when down to actually learn a lesson. It will never be easy to take profits, it will never look like a good time to sell, you will never time the top perfectly and you'll always want more than you have.
You are 100% to blame, no one else. Own the mistakes, learn from them, and most importantly forgive yourself when you are ready. There isn't an honest trader on here who hasnt made every mistake you've made.
The difference is who learns from them, who owns them, and who uses it as motivation to keep fighting. Losing should light a fire inside of you.
2 years ago, I moved my entire life to Cyprus to escape Germany's 50% tax rate.
It was the most expensive "money-saving" decision I've ever made.
Here's 21 brutal realities of tax haven living (that nobody warns you about):
We're not there yet, but thought towards harvesting the Cycle should begin to enter your mind for later in the year.
This old post could help, just add "memecoin, AI," etc
👇
My full length treatment of my case against the Strategic Bitcoin Reserve is out in @BitcoinMagazine:
I don’t support a Strategic Bitcoin Reserve, and neither should you
(article linked in next tweet)
Merry Christmas - my post on exit indicators and cycle top signals is now out!
This has taken ages to put together but I think it’s likely a very valuable read for the coming months, especially if you’re new:
Bookmark, share - all that shit - but mostly just enjoy the read 🫡