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62 MegaTrader

About BtsDoom

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  1. Hi, I'm glad you were able to borrow money from your partner to get you through this difficult time. My partner (wife of 32 years) and I appear to be well attuned to each other. I'm not sure if our strategy would work for anyone else, but the important thing is that we agreed to make five-year plans. These were not investment plans; they were life plans, and we are now approaching the sixth (and possibly final) plan. We've had our ups and downs, but it's fair to say that there has only been one period in which our financial goals were not met, and that was the last one. We had outperformed our plans for the first four by such a wide margin that the fifth was our first serious plan for "stretch target." Anyway, I could write for Britain about this, but here are some relative figures that we agreed on in the first plan and have never deviated from. 1 Your Principal Private Residence (PPR) is a long-term liability, not an asset. Maintain PPR borrowing at around 75% and use the ever-increasing fiat currency to invest in longer-term assets that should not depreciate in value. 2 Keep 10% of your assets in gold and silver (not ETFs, physical bullion). The actual figure began at 5% when we were young and now ranges between 10% and 20% as we get older. 3 Never spend more than 5% of your assets on cars. They are assets that depreciate completely. Prefer to pay cash, but if a bank loan is required, make sure the car is always worth more than the residual loan. 4 Budget for mandatory, discretionary, charitable causes, taxes, and savings / investment, in that order. This appears to be counter-intuitive. For five years, our discretionary spending consisted of vacations and gold accumulation, which we both approved of. slight smile: 5 Rather than investing in bonds or public stock (shares), consider investing in your own or other small businesses. Allocations have varied greatly over the years, but they have served us well. It helped a lot that our gross income (salaried OR self-employed) has always been far greater than our required living costs, but if other people find this impossible, there are always options. For example, despite the fact that three family cars amount to less than 2.5 percent of wealth, I refuse to double my car spending. We only bought new cars for my wife twice, and being self-employed in the UK, the commuting mileage to and from client premises has paid for both my wife's and my car costs as expense deductibles before income or corporation tax over the years. I would never have leased her car if we hadn't had the benefit of this "cost offset." I hope this was helpful. It took us 20 years to confirm that the plan was sound. Please be patient. By the way, crypto began as 1% of our wealth; after six months, we agreed to increase it to 3% of our wealth, and at its peak, it was 12% of our wealth, with the remaining 9% being capital gain. So, after a 50% market drop, it is now 6 percent of wealth. That explains how we were able to weather the recent downturn. The trading component will not be activated until I complete a full backtest, but it will then support both crypto and gold/silver in terms of risk mitigation for our existing holdings. I guess you could say it took me more than 20 years (and approximately 28,000 hours of IT and management consulting) to realise that long-term investment and trading (short-term risk management) are two components of the same goal. To maximise wealth opportunities while maintaining a manageable risk profile.
  2. I had a similar experience 30 years ago in Dier Ez Zor, which Isis briefly controlled. I asked my driver as we walked down the street why all the women in this backwater town wore large costume jewellery around their necks. He was taken aback and stated that it was not costume jewellery, but rather 22ct gold. These women were Bedouin, and they were in town for the annual camel trading, which took place just south of Deir Ez Zor. Those bedouin families believed in gold, and since Syria claims to have the world's oldest continuously inhabited city (Damascus), I reasoned that "us westerners could learn a thing or two from these bedouin types." So began a lifelong passion for gold collecting, which has served us well over the last 30 years. I first read Richest Man in Babylon about 25 years ago, and it has served as the foundation for our long-term investment plans. I agree - it's worth a read, especially for anyone at a crossroads in their lives.
  3. Hello, I understand your anguish. We quickly grew an account last year and now see BTC at nearly 50% of its ATH from two months ago. One of the reasons I decided to devote a lot more time to BabyPips, preparing a seriously detailed trading strategy and plan for Forex trading, was that I expected the crypto market to crash or become choppy around September, but it happened earlier. I am very pleased that this has occurred, and at one point I considered withdrawing all of our capital, but we did not need to do so, so we simply let it roll. The only advice I can give you is based on whether you have any other options. I'm not sure if you've considered the concept of good debt versus bad debt (relates to using good debt to invest in long term income generating assets and trying to avoid the use of bad debt which is spending money on things whose value goes to nothing - like meals out, holidays, new clothes). After carrying large amounts of good debt for over a decade, we are now deleveraging our real estate assets and will do so for the foreseeable future. I took advantage of the opportunity to reduce our bad debt at the same time, and we do not carry any credit card balances forward at any time, and we do not have any car loans. All I can ask is whether those unexpected expenses are one-time or expected to occur again and again in the future. If they are one-time events, that is one of the main reasons why anyone invests at all - to have a buffer against unforeseen expenses and to avoid being forced into a course of action by circumstances beyond your control. Consider the current value of your crypto assets as if you had just purchased them. Not at their mid-April value, but at their current price. Would you hesitate to sell them to cover an unexpected expense, or would you consider short-term debt that you could pay off in a reasonable amount of time (1 year to 3 years) and could afford the repayments? What would you do if you could see a month into the future and discover that the value of your cryptos has dropped another 20% on top of the 50% drop since mid-April? What would your decision be? As difficult as it is to cut losses, you know it is human nature to hang on to losers for too long and sell winners too soon. That is the nature of our game in Forex. If you are still unable to make a decision after this, please post again. And if you need all of the money, sell everything. If you only need half the money and can't decide which cryptos to sell, sell half of each type. To summarize: Have you exhausted all other options for covering the unexpected expense, or is selling crypto assets your only option? Do you require all of the funds, or can you sell some of them? Take action, don't look back, and focus on your future plan, which should be reset to the new asset value, even if it's zero. Best wishes We're sorry to hear the bad news. ...
  4. The APY is shown below. It doesn't change much. However, the temporary loss deteriorated quickly. Since the proof of concept LP, interest has been 83.16/78.17 = 6.3 percent since 16Jan22 (9 days), but the USD equivalent of the FOX-ONE pair was about $234 on 16Jan and is now $127 - a loss of 48 percent. It's a good thing it started like this. I'll take my time deciding whether this or other LP offerings are worthwhile. ...
  5. I have been trying to learn about leveraged liquidity pairs for the past few weeks. For history, see Yearn, Olympus (OHM), Wonderland (TIME) and other forks of OHM. It took me a while to get my head around these exchanges until I was on my third whitepaper. It dawned on me around Christmas or New Year about the creation of these phenomena, which bend our perception of the real world like the Matrix trilogy, and hence my reference to the white rabbit. The use of the word “treasury” was the key to me, and my realisation more than a decade ago that sovereign nations have been doing this since the creation of nations. They just print currency out of thin air and use a treasury function, along with interest rate policy, to manipulate (try to control) supply and demand to stabilize an economy. In the recent few years it has become apparent to most citizens of most countries that the record deficits of the last two years will not end well for fiat currencies. So I wished to take a very small position (a pilot position) in a leveraged holding of a currency pair. And this week saw the launch of the FOX (Farmers Only Xchange). It is run on the Harmony (ONE) ecosystem, which has become my favourite “network” - if that is the right word for an ecosystem that promotes dapps (Decentralized Applications) within its own currency (in this case the ONE). This is the third investment I have taken in this ecosystem, the first two being DeFi Kingdoms with its own currency the Jewel, and Tranquillity City with its recently released token the LUMEN. Both these dapps are games in which NFTs can be used to generate an income. So they fit my definition of investible NFTs. There is a very special reason I have chosen to dip my toes into leveraged currency pairs, and that is the future. I am not going to reveal what that special reason is because I haven’t yet made my own move in that area, and don’t want it to be necessarily more expensive when I have free funds to do so in about six weeks time. So the experience was not an easy one. I started three days ago amidst an almost total shutdown of the ONE ecosystem. There were issues preceding the last few days of latency and many transactions needing to be repeated but that was thought to be due to the uptake of DFK - membership has grown from 25K to 70K in the time I have been playing the game. It turns out that there was another issue of spam congesting the system, due to the ridiculously small transaction fees that attracted me to the network in the first place. I have now made nearly 1,000 transactions on the Harmony network and have spent far below $10 in all on transaction fees. I have lodged my pilot currency pair in the FOX-ONE vault at a daily interest rate of 0.81%, equating to an annual APY of 1,785%. This is money I am prepared to lose, but my gut feeling is that I will not suffer an overall loss at all, with a good chance of doubling funds in the next few months. If there is any interest in this “rabbit hole”, I will try to answer questions on this thread. Meantime, I will be keeping a close eye on how this vault performs. It would not surprise me to see the TVL (total value locked) to grow very rapidly. I want Harmony to succeed with its two second blockchain cycle and its extremely low fees. Like many others of a similar ilk, the world is not going to wait till ETH sorts out its gas fee issue. None of them has a guarantee they will be first mover in the cost versus traffic stakes, but a two second block time is a good start.
  6. This is either a personal attack on Raja and Uncle Ted, or you don't know them well enough to comment. His daily YouTube streams are extremely beneficial, and Raja calls out trades, Entry, SL, TP...even when it hits Stop Loss, it is well documented for all to see. It takes guts to do a FREE live stream and then call out trades with exact entry, SL, and TP...DAILY! Common! Give them a break with how they treat people on their live streams; it's FREE, for goodness sake!
  7. Hello, Spaladin, and thank you for sharing your EA. Just to let you know, is there a particular currency that has produced the best results? What have your daily gains been with this EA, and so on? If you'd like us to try out different combinations with your EA and share the results in order to find the best results for everyone, please let us know; I'd be happy to test out a few currencies/TF.


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