JayJuanGee
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How much alt coin diversification is needed? 0%?


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May 30, 2018, 06:40:53 AM
Merited by Searing (3)



Perfect

..."then skim 10% or 20% off of the top and put into fiat"...
Metal, Stocks, Real estate as well if you can

Was having the same problem

This solved it

still doubt how much to sell and when but the skim makes you feel comfortable

If it all goes away you got more than what you started at

Cheerin


I have rarely had to take any extra skim because I tend to sell on the way up and then to reallocate along the way... so every time that I am feeling out of kilter, I only have to skim 1% or so in order to get myself into a kind of comfortable rebalance.

Another part of my cash that I monitor is how much fiat that I have available (within my investment system to continue to buy on the way down).  If it appears that I am going to run out of fiat on the way down, then I have to make adjustments to my buying schedule to buy smaller amounts and/or to buy less frequently.

Surely, for any of us who are BTC accumulators, it is uncomfortable to experience the BTC price going down, because we are more rich, overall, if the BTC price goes up, but there remain ways that we can attempt to maintain less emotionality towards price movements by keeping some dry powder... and just keeping faith that the longer term, whether that is 1 year or 3 years or 5 years, or perhaps longer, we are going to be able to cash out some or all of our accumulated bitcoin that are likely much higher than the average price that we bought them... Of course, the break even and the profit price points are going to differ from person to person, and a lot of the dilemma that seems to currently be occurring with long term BTC hodlers is whether to skim a bit of profits right here to feel more comfortable, but it is not tending to be a question of selling at a loss, so the question of selling at a loss would likely be a different one related to long term faith, and likely a need to either continue to buy or to HODL rather than skimming a bit off the top, at these currently down more than 60% from the top BTC prices.


PS:  By the way, don't blame me, if you skim a bit off, and you end up selling at the bottom because BTC prices go shooting up from here. In the end, you are responsible for your own actions and your own measures to feel more comfortable, and each of us needs to have enough comfort feeling in our decision(s) that we feel prepared for the price do go in either direction.  We are NOT just preparing ourselves for one direction, because if you prepare yourself only for one direction, then you are gambling rather than really stabilizing your BTC/fiat holdings.