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PlainsInvestor

08/30/18 10:55 AM

#6452 RE: sleekscape #6445

One of the most important lessons I've learned in trading, especially for high risk, high reward, volatile assets is to always trade with a plan. Have a core position moon bag that might be 70% of my position accumulated through bids at low prices. The other 30% take profit on every spike and then roll that back into buying the dips. This allows volatility to work for you, not against you. Volatility then lowers your cost basis over time. The fact that I have my 70% bag that I won't sell until the price is much higher keeps me from FOMOing and chasing and buying 12s and 10s (in this scenario). Always have a plan. Extra points if you have a plan that loves dips.