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RE: Cryptocurrency & the 20% Cream Rule [Make More Money]
Well written.
Can you explain a little more how you decide WHEN to take the 20% off? And do you sell 20% of your sum of that coin, or 20% of the profit value factoring in the cost you bought it at?
Thanks for the compliment. And sure.
I like making things simple.
Say, for instance, you want to start with 100 Cream Coins.
I'd recommend buying 80 Cream Coins and putting the other $ (20%) into USD or Tether, as @goldkey suggested, on the Cream Exchange.
The 100-day MA (moving average) gives you a decent idea of how people are valuing Cream Coin.
So...
if Cream Coin is performing exceptionally well, then set some limit sells, and take some cream off the top, so that you can have 20-30% of your TOTAL investment, waiting in reserve. Because no matter the hype, Cream Coin will inevitably dip.
And catching the mid- or big-dips, and then selling off the cream as price increases, my friend, is a game-changer. And you can avoid the psychological effect of dips. By seeing them as opportunities.
The only exception being if the dips are due to something bad/real. Say, the founder of Cream Coin was caught embezzling funds. Then the dip makes sense. But in a volatile market a lot of the dips come from FUD.
So, in your example...you'd sell ~20 cream coins, and then buy more on the dip, right?
Right. If you had 100 to begin with. Yep. Sell off 20 at a nice market average.
B/c you never know when the next dip will happen.