Obtain A Yield
Think Creatively about yields, use it or fear neglect
A bountiful harvest meant and still means the difference between life or hardship … or sometimes even death for people throughout all existences. In our globalized world, do we sometimes forget about harvest being a very specific and important time?
Everything seems to appear on the shelves at any and all times as things are packaged and shipped from all over the earth to accommodate all kinds of seasons. When we think about it though, we realize that there is complex system of shipment and storage comprised of precise timing and product manipulation going into all these fresh produce we find in the first world grocery stores.
As I sit here on the stone patio looking out over the gardens, the rain comes down steadily making for a peaceful ambience of white noise on the tin roof. It’s a fine time to sit and ponder how this welcome bout of precipitation will push the plant life closer towards pruning, picking and the right time to collect a yield.
We’ve learned that there is sometimes a small window of optimum harvest time and being well aware of when that window opens and closes means the difference between enjoying the fruits of labor or accepting the regret of having stopped the growth of your product before it’s good and ripe or disposing of a rotten mess at a loss of your time and energy.
We left a whole row of mixed salad greens too long in the rainy season only to find one day that the various fliers and crawlers had left us with a sad porous patch of hardly greens. One needs to keep a close eye on the berries as they are either for you or the birds. Nothing sucks more than slipping on a rotten mango while on your way to the compost toilet for an early morning visit.
The feelings are sometimes similar when you look at the present crypto market compared to your portfolio. Sometimes we find ourselves looking back to last week when we were up 20% on whatever coin and we sat there giddy eyed and excited but made no moves and now we’re stuck with the same holdings but down 15% with no signs of slowing the decent. It’s the same dance week-to-week or sometimes, when less volatile, month-to-month. What goes up must come down.
It’s how to obtain a yield along the way that matters and keeps your portfolio healthy and exciting. For those who are not into day trading and have made their buy ins at a satisfactory level and now have put them away for long term, there are still things to consider to better the chances for a healthy yield.
For long term holders - Keep active !
It’s important to have an idea or plan for when or how you put your potential profits to use. Ask yourself, does whatever coin or product you put your money into have a real world use and value? You better hope so and you better find out what that use is and start making it work. You could start by looking on 99bitcoins.com for a massive list of online stores that accept Bitcoin. Other uses could be trying private coins like Zcash and Monero for making private purchase or perhaps using a decentralized exchange like Waves for your trades. Everybody should try to expand the number of use cases for crypto by every once in a while asking some stores you frequent if they take Bitcoin or Litecoin or Dash. Even if it’s a bit far out, put these ideas on their radar as we all know there is a tipping point for everything.
For the more tech savvy it might be building a smart contract or other programs with Ethereum or supporting scientific research project with Gridcoin. For me at the moment it’s contributing these writing and pushing my meager amount of views towards Steemit.
Finding and promoting the uses for whatever you invested in is one more step towards more people finding said product useful thus creating demand and value. The potential for Bitcoin and all these altcoins is vast but not nearly fully materialized. We are investing because the real world applications for this technology is exciting and inspiring are we not? I think gaining a personal monetary profit from all of this innovation is just a bonus.
When it comes to day trading things get much more complicated and risky for the inexperienced and seasoned trader alike. We all know that these are high risk and volatile markets. Veterans have described the crypto-market as a wild rollercoaster ride and the craziest features are still coming up.
I am going to state right now that I am not very experienced at all in taking profits from day trading and I will only attempt to cover a few very basic strategies.
For day traders - Set profit taking percentage points for yourself.
When buying in on a coin have a look at the trading history on the charts. Find a comfortable level to buy in based on past lows and highs, set up your automatic orders for when it hits that level and be patient. If it doesn’t go there in time then it’s not meant to be. Reassess where this coin might be going and try again or look elsewhere. Along with your automatic buy in order start to consider at what time or percentage you want to take profit. 5%-15% is considered conservative; anything less you’ll probably lose money in transfer fees. 15%-30% is very healthy and anything more is of course very possible on the crypto markets but runs the risk falling prey to greed.
If you find yourself in a position to take 15-30% profit and you believe the coin is going to go up further in the future you can set an automatic sell order after it passes 15% profit and if it happens to come back down below that line you are automatically cashed out and in a position to reinvest at a lower buy-in price with more capitol than what you started with and hope you get a good chance to buy-in again at a lower price. If you’re not confident in the project anymore you could also take your profit and move on.
Another way is to only sell off your profits and keep your initial holdings in the hopes of more gains coming in the future. Pretty simple. Using those profits to add to your holdings is an option to gain larger a larger volume of profit in the future.
More often than not though, and especially if we are new to the crypto markets, we find that we’ve bought in at a terrible price and now we are looking at a huge mountain to climb back up before we even get back to our initial introductory position.
The price is so cheap right at said moment we just wish we had bought in at this time. Well, if you truly believe in the project then you can just sit back and hold on for dear life or, if you have a bit more capitol to play around with, you can buy in at that cheap price that you presently see and wished you’d first bought in on and then you have holdings at a decent price and at others at an expensive price bringing down the your total buy in price average to something a little more reasonable and hittable in the near future.
If you’re not an expert as I very much am not, follow along with some great youtubers and podcasters as they give daily or weekly market updates and potential analysis strategies. They also give suggested automatic buy in and sell price lines based on experienced chart analysis.
Some of my favorites include:
Cryptoversity - short to the point and informative daily updates and chart readings
Ryan Lee Youtube - usually has a few vids a week with great chart readings and price points
Node Investor - friendly casual easy to understand chart readings and crypto news
Remember any and all actions within the cryptoverse expand the amount of use for this ecosystem which makes it all the more valuable and increases the potential to obtain a yield. If we don’t use it, who will?
I’ll wrap this up by inviting anyone to please comment and constructively critique. I’m putting together a list of use cases for the top ten coins.
I know I’ll personally be looking for a way to use crypto to buy a new phone as my late night bush waiting and home alone style traps haven’t yielded any phone and egg flipper thieves on the land as of yet.
hami -