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My remedy for being a degenerate trader

Bitcoin Reddit

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I have bought and sold Bitcoin several times in the past trying to time the price. Sometimes this has worked, other times it has not. I would have done better just buying and holding. Of course the answer is to DCA. But while I am not yet immune to the temptation to trade, I have come up with a solution that has helped me a lot. Every time I sell - cover your ears if you need to - Bitcoin, I now "burn" 20% into long term cold storage. So no matter how well or poorly I trade I am always accumulating Bitcoin. If I buy 1 BTC, then decide to sell, I am only allowed to sell .8 BTC and .2 BTC goes into my long term wallet. YMMV.

submitted by /u/PracticalLavishness
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