Usually, it is better to buy on the way down rather than on the way up.. but maybe the price will keep going up.
I’m going to disagree somewhat on this point. It doesn’t matter what direction the price is moving when you buy, so long as your sell above that price.
That's true, too.
I am a little embarrassed, but I remember in November 2015, I had just started my system to sell BTC on the way up and buy on the way down.. , and that selling started around $250 ... so as the BTC price got to about $400 without giving me any opportunity to buy back, I got a bit frustrated and I stopped selling, as my system told me I was supposed to do, and then when the price went up to $500, I fucking blew a decently large amount of my reserve cash and I bought, so when the price corrected back to $300 and then kind of got stuck between $375 and $425 for nearly 7 months, I was kicking myself for most of that time for buying so much at $500 and kind of locking myself out from trading for nearly 7months.
Yeah, i figured out a way around it, including the ability to use some fresh cash as it was coming in, and yeah it was not the end of the world, because 7 months later the price went shooting above my $500 buying price and never really returned.. but still, felt kind of like a loser for 7 months and screwed up some opportunity costs.. which was largely a result of my letting my emotions to allow myself to do the opposite of what I had already told myself that I was going to do.