20190619-Matrix Ben-XLM Whitedove-10% off the table strategy

Matrix Ben：

XLM

-He sees Stella explodes next year!   He sees it go up to $1 each, then $100 each, then $1000.   He said he is betting his leg on it that it will get there!

Whitedove ：

Her 10% off the table strategy

A friend wrote basically saying "what is the logic behind this "10% off the table" on a 10X move?  Here's the question and my answer, but before that. i just want to wish you a wonderful day.  LOVE

Ramazhan:  Hi Michelle, I want to  understand the reasoning, every  10x  you take 10% profit,  but  how many times will the same coin make  10x ?   How many times will we be able to take profit ?  the coin must do 10x many many times   for us to take several profits, meaning :   10 x 10 x 10 x 10  etc....  Please explain the logic so I can understand it in order to apply  it practically   thank you Michelle

Michelle Whitedove:  I think things were lost in my writing and there is a misunderstanding.  I'm sure it's my poor writing that contributed to your misunderstanding.  

My  "logic" is ONLY an intial FIRST step as written about in the three posts "My Dream Portfolio" "Pre Exit Strat' and "Exit Strategy Part 2."  I guess i didn't do a very good job emphasizing the need for people to only use this as an example and what i am doing TO GET MY INITIAL investment out of the  "game" AND to remove a large part of the "emotions" that drive poor decisions.  This eliminates some of  the "fear" side of the equation.  As you know, when you are  "playing" with the "houses' money" your natural fear level  subsides dramatically.   I expect most of my "coins" in my  dream portfolio to do minimum 10 X from when I got them, but not all to do  several 10x moves AND we all got in at different times.  And i certainly  don't except Binance Coin to have multiple 10X moves. 

SO THE FIRST STEP OF MY EXIT STRATEGY is to simply take approx 10% off the table, so to  speak, on any 9 or 10X move.  For example.  say you bought one LTC  for $100.  When it hits 1,000.00 that is a 10X move.  If you take 10%  "profit" that means you take $100 off the table and you no longer  have any of "your initial investment" in the game.  The

 remaining 900.00 in LTC is STEP 2.  What price will you take more profit.   Personally, i do not expect to wait for another 10X move.  I have my own ideas where it might go as Spirit shared "thousands" so i don't  know if that means 2,000 or more.  So my plan for LTC is to take more profit sometime before it hits $2000--maybe 20 or 30 percent off the table.  But i will develop my personal strategy along the way.  My goal is  to build my INITIAlL exit strategy and stick to it barring any unforseen  developments (which i'm sure will occur).  The goal is to actually build a  plan.  There's a lot written about the importance of a plan in the posts  referenced above.  

Now, i do expect Theta to go on multi 10X runs, so i will likely work the 10% on each 9 or 10X move for it.   And i anticipate being able to do that a few times, if things go s  predicted.

I do not expect  XRP to go on a run much over 10.00 so i will take profit of 10% off the table when it hits 10X from my entry point of approx 30 plus cents.  Then before it hits 10.00 i will likely take a much bigger percent off the table.   Could XRP shoot far past 10.00 for a short period or longer, sure.   but that's okay with me.

So in short, for now, getting my initial investment out of the game is key.  It removes a degree of fear from the equation.  

Now there is another huge part of the equation we must consider.  GREED.  What is a reasonable number for each coin you hold to reach?  Try to remove  "fantasy" from your mind and look at things objectively.  How  high to you think the overall market will go?  When you pick your  "expected high target for a coin you hold" multiply that number by the number of coins that will exist and see what the "overall market  cap" for that coin would be.  Make sure that number is reasonable.

Also, think about how much is enough for you?  We're all different.  But know  that neither your intial buy in price nor your hope for a price target are  relevant to the market.  The market will set the price.  

I will share my  "next targets" after i hit my first targets.  One step at a time   but having the grander strategy in mind.  However i did put quite a bit of info in "exist strat part 2" for those who have "My Dream Portfolio" it's a little clearer but certainly not build to get much past STEP ONE--Getting Your Initial Investment OUT.

For example.   BCH.  I have written my entire "cradle to grave" strategy  from first profit taking to final profit taking down for BCH.  i hope that  was clearer, it was in "Exit Strategy Part 2."