@JayJuanGee
It sounds like a great plan. But if i was you i don't think i would trade much.
In mid-2015, I went through a considerable number of BTC price projections of cash flow and authorizations of my limits (self-imposed of course), and I had already concluded that selling small amounts of BTC on the way up was going to be the best way to put myself at ease going forward. I suppose that part of my mental justification was that the BTC prices had gone down for the whole of 2014, so through much of 2015, my average BTC cost was in the $500s, but the price was in the mid-$200s.
In 2015, I had also acquired about an addition amount of BTC that was priced well below $300, and that portion of my stash constituted between 15% and 20% of my stash quantity, so in essence, I authorized my ability to sell small amounts based on that smaller portion of my stash, which would have been in profits, and then as the BTC price continued to go up, larger and larger portions of my stash went into profits. So, actually I had brought my cost per
BTC down to slightly below $500, and there was a day before BTC prices had actually gotten back above $500 that I was feeling profitable, even during early 2016 when BTC prices were largely floating in the lower $400s.
In essence, I had stacked buy orders all the way back down to below $200, and I had sell orders up the chain, too, so I felt good, and I felt insured.
I felt insured for BTC price movements in either direction.
Also, to some extent, I felt that I had bought a stash of BTC that was a bit beyond my authorization, so the selling is already built in. I don't miss them at all when I sell them, even though I know that I could have a bit more of a stash if I were to hang onto them, but I don't care. I like having both cash and BTC available, which ONLY seems achievable in a way that is comfortable for me by my following the system that I have established and I have custom tailored to me.
So, anyhow, I don't consider myself to be trading, but just engaging in a kind of insurance plan that causes me to be more psychologically and financially comfortable (and neutral) than if I did NOT have the employment of such a system.
I'm almost forced to trade because my position isn't that great. I'm a late comer.
I think that you already told your story, so you are way the fuck younger than me.
So think about it. By the time I got into bitcoin, I had around 30 years of investing in various things and also building my cashflow in various ways.
Accordingly, I had a decent amount of money that I could just inject into BTC.
Of course, like I said, it took me about one year to reach my target investment level (which would have been reached largely by the end of 2014), but then the stagnated BTC price for nearly all of 2015 allowed me to continue to invest (and largely over invest), so in that sense, I don't mind shaving BTC off on an ongoing basis and working such shaving off into my whole BTC approach.
By the way, in 2015, I was projecting BTC prices to go to $3k or $5k, and that was bullish as fuck, and hardly even seeming tangible - I mean it seemed like pie in the sky, so I had charts that would show what I would do at various price points along the way, and so some of the more loosely planned charts went beyond $5k, but really what happened when the BTC price starting getting close to $3k, I had to extrapolate some of my theories to project higher and higher BTC prices, and when the BTC price came up, I would have opportunities to actually verify how close my actual practice ended up complying with the theoretical projections that largely went 3x to 5x beyond the most bullish of scenarios that were in my short term and more fleshed out mix of scenarios.
Surprisingly, even if the theories did not play out exactly with the actual practice, they were pretty damned close, and a few tweaks here and there, and they became learning experiences in terms of ranges of flexibility that might be necessary for such scenarios if they were to repeat.
In recant times, I changed some of the charts that I use, and sometimes, when discussing "whatch u gonna dooo?" matters, I decided to project further out to see how it looks at various points, such as $100k or $500k or even $1million. So, yeah, just like you never want to run out of dollars if the BTC price is going down, you should never want to run out of BTC if the price goes shooting up without any correction.
Currently, if I strictly stuck to my plan and the BTC price shot up to $1 millon without any price correction along the way (which is not likely) in which I am able to buy some of the BTC back, my trajectory still shows that I would have a bit more than 70% of the amount of BTC that I hold today while staying in a kind of supra 90% BTC to less than 10% fiat range. And, the amount of value, even from the fiat portion alone is way more than sufficiently enough for me.
Actually all along the way, the numbers look good, and even if the BTC price does not go up, and goes down to $5k, I am satisfied, even if the numbers would be nicer if the BTC price goes up. What I am trying to say is that the value of my wealth goes UP so fucking damned much if the BTC price goes up, that it does not really negatively affect me in a material way to shave off a bit of profits from here all the way to $1million and beyond (if the BTC price were to go there).
So i try to gather peanuts here and there from my trades. I wouldn't worry in your position at all. You'll probably be a millionaire. All you have to do is wait enough time. That's all.
Personally, I believe that you should not try to rush anything. Wealth building takes a decent amount of time, especially if it is based on prudent strategies, so of course, people who have been in the investment scene a bit longer should be able to have their position set more or less, but if you are younger you should not be rushing to get to the same status as the older person too quickly because if you do that, then you are likely going to make too many avoidable mistakes.
A lot of my earlier investments were 401ks and index funds and things like that, and if I had access to bitcoin, I could have possibly accelerated my wealth building timeline, but there still is a lot of patience and building and building and building that cannot really be rushed.. You just have to keep building brick by brick.
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