ICON [ICX] Cost Averaging TEMPLATE

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icx

#243

It isn’t about the year’s capital to start with. The idea is to take it out of pay (fiat or maybe another coin youve had shoot up) in order to have some kind of reliable investment over the course of a year. The entire concept is to have a consistent average. Sure, people who randomly buy the lows (if there are many) instead of dca will perhaps have more coins at the end of the year. But that is an unreliable strategy because it is unpredictable and dca accounts for increased price over the year. It’s about risk mitigating rather than maximizing profit. Though one might say that via risk mitigating you are indeed maximizing your profit as hindsight is 20/20, but now that’s a different trading philosophy. You also don’t need to dca with 100$. You can do 50, 1000, etc. The point is consistently adding to your hodl.


#244

Thanks I appreciate the response. Yes I have a few things to learn about risk management!

And do you guys transfer it all to your hardware wallets of leave it on exchanges? I guess you could do a month’s worth and then withdraw. Binance fees are ridiculous for some coins, especially if they rise in value!


#245

I currently don’t have a ledger or trezor. I have a few different wallets, and the one I have more experience with is just using electrum for BTC only and the exodus wallet that I don’t use often at the moment. All I care about is increasing BTC and ETH as BTC is like my USD for trading.

I keep things on exchanges but large coin sums are moved off.

Look at this for cold storage:

https://walletgenerator.net/


#246

Thanks, yeah I use my Nano ledger S. Its very easy to use and seems to make the most sense for storing coins offline


#247

Ledger doesn’t support coins I’m interested in while paper wallets all can be made to do so. I also have concerns about some of the security fud I’ve heard about trezor (including 2.0) and the ledger. I guess it’s all a gamble how much you want to trust an exchange and at what point you’d want to move your coins off it. I store in BTC usually but am interested in icon wallet and neon wallet official releases. Until then I keep things on the exchanges.


#248

Yeah the security issue with the ledger isn’t relevant if you check the address on the device when doing a transaction. No idea about trezors. What coins do you have that you can’t store on the ledger?

I use neon wallet for neo with my ledger. And my ether wallet with the ledger for Eth and erc20 stuff.


#249

Sounds like a plan. I was looking at some of the ico coins when they become public. I still might get a ledger for the legacy stuff but paper seems to be just as well. It all depends on how the new batches turn out.


#250

Yep. It’s more about the discipline of investing and risk management than smashing money in and then spending all day on the ICON “emo” thread bitching about price action… le sigh.


#251

anyone know what the appox minimum will be for running an ICX node???


#252

No worries or complaining here with my weekly DCA! :hulksmash:


#253

I bought a lot of icon this week, but there’s always room for more. DCA Friday :icx:

giphy%20(6)


#254

Great idea DCA, doing this now with QSP and ICX. It’s hard to wait untill friday :slight_smile:
Still reading about Value avering.

Still on a loss with DCA
-7% profit QSP and -4% profit ICX, what’ll 2018 bring us ?


#255

These korean people! PLAYERS :smirk:


#256

-40% since the begining of the year, that doesn’t sound like a good deal atm :smiley:
Any feedback about what’s going on? Is it only related to the fragility of the market atm or is there anything deeper than that?


#257

Do u think it will be better with another coin? dont think so
Hodl#


#258

Well i did this with ETH/BTC/LTC at the same time and ICX was the worse
ETH > -20%
BTC -> -12%
LTC -> +3%

So that’s why I’m wondering if there is something deeper I should know or maybe ICX is just not strong enough right now and it will go to the moon when market will recover :slight_smile:


#259

Its strong enough its just the market.


#260

You’re thinking correctly. If it’s not performing per your goals, and you believe you have enough data to make the call, switch!

I find that most haven’t made goals… so moving in and out of a coin without goals almost guarantees losses.


#261

Yo @peter ,

Are you still DCAing ICX? I haven’t seen an update on your sheet for a few weeks!


#262

I am. I just havne’t updated in a while… I should probably update them…