Its the best to stay away and stop with trading for ever for me. There is just that one moment when you finally lose your controll and pacience and start making stupid moves.
So i will build my cold stash (trying to increase it with 250%) with my fiat money.
Just remember that holding also requires patience and control. It also requires sufficient resources that you don't have to sell during times of lower prices.
If you're barely getting by and see your holdings worth a fraction of what they were worth, it can be really hard not to sell, especially if you strongly feel the price will keep going down.
Those are the times you should be buying more, albeit incrementally keeping enough spare fiat on hand to buy if it dips further.
Accumulating fiat from your normal income during periods of flat or rising prices is a good policy. That way you're always prepared to buy the dip.
Just
never sell.
_______
It does get easier with time.
In my case, it was excruciating watching the price fall from $266 to $50 after originally buying in at $68 and accumulating well over 100 coins at about $120 per coin.
Thankfully, I had enough sense and intestinal fortitude to hold tight, although I did sell 10 coins for $155 on the "dead" cat bounce by placing a high ask and having it met. I then placed a bid at $97 which was soon met. That was my last "trading". After losing 50 coins to MtGox I realized that all my coins should be offline.
By the time the price had crashed from over $1100 to under $200, it was much easier to take in stride. I went into accumulation mode and was adding coins by the dozen while the price was down.
The recent dive from $1700CAD to barely over $1000CAD at the height of the PBOC panic didn't phase me at all. Now we're back at $1370CAD. and I've managed to add several more coins.
It gets easier all the time. If you start to weaken, just remember the story of one pathetic troll who sold all his coins for $10 each and has been embittered ever since.
Yep pretty much mirror's what I've done since 2013. My only gamble with bitcoin selling in a serious way was the KNC Liguidation Sale we managed to angle our way in last summer
when KNC went bankrupt and put together like a bunch of Titan cubes they had laying about (temp workers...lots of breakage thou we bid accordingly)
As such with power supplies had to sell around 10 BTC to cover the power supplies/etc and bank loan the rest....it really, really sucks to sell BTC at around 550 usd (last August?), er
something like that ..and then chase over 900 buck to 1250 usd btc to get back to the 100 btc hoard you started with ....I did mine also my 25k of 2013 electric,knc jupiter
and first (no roi i though) 10,131.80 titan down to nothing thou...so it all worked out
but damn it really really sucked....I much perfered holding bitcoin in 2014 when it tanked
but again I'm odd man out...whatever I've done with BTC and or LTC miners to make BTC to the hoard ...was done MINING..thus puny income/some income/lots of income
it all trickled in
how you guys trade and lose and trade again is beyond me...I went the hardware way of risk....run the gerbils and hope they mine more then the miner before they up
an brick themselves....but truthfully it mainly worked thru finding used or bankrupt or the liguidation sale deals on new/used equip since 2014..the last NEW miner
I bought was Nov 2014 orig titan...
my next piece of advice follows your point....'attic mining' I have 5k of crap in my attic if I can get it on ebay..(so boring) but that is likely the 'safest' way to get BTC
at a home miner kinda way now .......so that is the next goal..but it is sooooo mind numbingly 'office space' cubicle drudgery...but still more attractive then trading
for BTC and such
my 'cowardice' types of methods of BTC accumulation are fine thank you...and still mining ...not sure what is up with LTC but go baby go...need to swap you for btc
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