Okay, so how are you feeling right now concerning the quick BTC drop-off from 11,400 to 9,000 (time right now is 11am, Nov 30th)? Why do I ask? Well, your emotions will dictate if you're invested too deeply. I suspect most of you have had positions for awhile now so essentially you're 'Ahead.'
a) we kinda saw it coming right?! I mean I did. I was going to post 2 days ago regarding selling some of my position but became distracted. You'll have to take me at my word. Anyhow, from now on:
1) keep an eye on the 6 month chart (worldcoinindex, or whatever site you prefer)
2) if you see straight up (check it now for instance and see how BTC went almost vertical).... Sell some. And this applies to every Coin. You might be thinking 'Duh', but ...did you pull the trigger? Did you sell a little/moderate amount?
3) if/when you sell, don't panic and 'CHASE' if it keeps going up. Hence ...selling a portion, not all of your coins. Trust me, ...trust yourself,...it'll drop back down. I challenge anyone to show me a chart where a stock or coin goes almost vertical and remains that way. It's tough to resist. Trust me, I know. See below how I screwed up. It'll make you feel better (most people that post, don't post their mistakes?...why?)
4) when it comes back down, if you feel the need to pull the trigger and Buy Buy Buy!! Don't Fully buy back in. Just buy 15, 25, or 35% back in at first. 'Dip your toe' back in--so to speak. Then, see what happens. Trust me, you'll feel better either way. For example "Thank god I didn't buy ALL back in just yet because it's still going down'' or "Cool,...glad I bought back in,...maybe it's time to invest a wee bit more" You won't be kicking yourself because you didn't buy back 100%. You'll still be feeling great about the fact that you sold when the price was 'RIDICULOUSLY HIGH'.
OKAY. So here's how I both F*&ked up, and Did well. This is so you can relate.
* I saw that BTC moved from 8k to 11k in a matter of days, and the 6 month chart--the latter part of it--the line was straight up. My thoughts """this is insane!, this is Great!, Wow, what should I do...etc....the whole gauntlet of thoughts"
* I actually sold at 9800. Saw that it was going higher,...could resist and bought back in at 10k. Oops!!
* Went to bed, and set my 'sell' and then reset my 'sell' after thinking 'hmm...what is a ridiculous amount?' ...and I set it at 10750, after upping it from 10300, to 10500.... to 10750. And ...yes...it sold while I was asleep.
* Woke up, ....saw BTC had gone to 11890. Nope...didn't buy in. I had restraint.
* Drove to work....saw BTC had now hit 11,400. Nope...didn't buy in. Looked at 6month to remind myself. Kept restraint. And it was tough...trust me,... FOMO kicking in.
Yes....and then WHAMMO. Down it went. So ...what's my message? Hold tight, sometimes it takes a little bit longer for what you know DEEP DEEP DOWN is going to happen, TO ACTUALLY HAPPEN.
Here's where I F'd up. I bought back in at 10k. Why? Well, deep down I wanted to wait, but I was anxious. Gemini had been down for hours and once it opened, I saw BTC was going up again and I 'jumped on it'.
SO...I DIDN'T TAKE MY OWN ADVICE. I'M HUMAN. SO,...... LEARN FROM MY MISTAKE. AND IF YOU'VE MADE THE SAME MISTAKE(S),....HERE'S PROOF THAT YOU'RE NOT ALONE.
Good luck