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Buy lowish sell highish (shoulders and knees)

    • Buy low, sell high is the old adage but is nearly impossible
    • How to be ok selling for a gain before the absolute peak and buy before the absolute bottom


[00:00:00] GEorge: Today all about affordable about the strategy of lowish and sell.

[00:00:45] Highish basically named for the shoulders and the knees when rather than peak and trough, Andrew, how's it going? What's in the news.

[00:00:57] Andrew: Going yeah. What are we seeing see, we've got, oh, it was this. to, uh, you know, people following Ethereum closely, uh, there's news, the merge, uh, is coming in August. That may mean nothing to you, but this will. Transition Eve from a proof of stake to proof of which will reduce, eats.

[00:01:21] Energy, uh, the energy consumed. What needs is the run for transactions? Um, there's a lot of other upgrades that, uh, are somewhat technical, but it is big news. It's been pushed back a few times. So if it really is coming in August, that is, uh, that's very good for Eve. Um, and is soon.

[00:01:42] GEorge: Yeah, I think there's also upside for layer twos. If I'm understanding some of the news that has been coming out about, how that's going to be making it more efficient to push in blocks and for, you know, things like polygon, optimism, layer, twos that live on top of. Live on top of them with Urime. So I'm very optimistic about it, but I'm trying to abide by my original many rules of don't get too excited.

[00:02:10] And don't, over-hype things coming in The future. Everyone's not going to come running east, not going to suddenly triple it'd be nice If it did. Lord knows because actually, you know, recently there was also a hiccup. Uh, Blockstack where they had to like roll

[00:02:23] back something like seven blocks and reorg some questions about, you know,

[00:02:26] as

[00:02:26] their instability. So be

[00:02:29] a still very long, you know, a or more to that launch,

[00:02:34] because guess what they're building in public, they build on the chain, they build in these public calls and

[00:02:39] people are going

[00:02:40] to be, you know, playing up and playing down all

[00:02:42] of the natural things that happen.

[00:02:45] When you try to launch this the macro picture makes me very happy that it's moving

[00:02:49] into a much more base and environmentally friendly. If just being raw about the amount of to maintain a Yeah, I think it also can help shift a lot of the narratives that are, um, are out there. So. I'm excited about that part as well. let's see some from, uh, one of the Ethereum valid founders, the most well-known the talent. Peter wrote a post on Seoul bound Lots of the idea of a soul bound token is that unlike an NFT, they would not be able to be transferred to another wallet. this would be, uh, the idea is that it could be used for something. And accreditation a degree or, um, that you earned personally, but somebody else would not be able to just take over. Um, so I think this is something that you'll be hearing more about. There's a lot of, uh, a lot of discussion about it.

[00:03:40] Andrew: There aren't projects or anything out yet, but I think it is like to, to just be aware of, and start learning about, because I'm sure we will start seeing more, uh, later in the year.

[00:03:51] GEorge: Yeah, there's a lot of ups, you know, there's a lot of upside to which you can see there. it's like oh, what if your wallet gets hacked? Well, again, there are, if it can't be transferred, then it's always associated with that address. So, you know, things would have to go very, very sideways for you to, like completely lose And even if You did it, imagine there's a You are a fingerprint is essentially on the NSC

[00:04:14] itself, your fingerprint being that Ethan address, or maybe even identifiable information, you know, there's a lot of different applications that are associated with that. and might, you know, make things like accreditation And things that are inherently you as identity,

[00:04:28] uh, be married to certain types of logs that you choose to use. it's not, a headline, but then becomes like, holy cow, could you

[00:04:37] believe that like this new technology came do these 60 other

[00:04:41] things

[00:04:42] and you know, it's kind of, to, to understand that the second order of X, but I tend to, listen when, uh, when Vitalic because

[00:04:50] smart. Yeah, I little while for it to uh, to get around because he does lot of words to say it and who it's not, it's not the easiest to read the first time through, so it's good to have other people talking to them about it. And I think we'll start to see people start acting on this a bit more. news of note was the eBay launched an NFT uh, in partnership with, uh, waiting with Wayne Gretzky. So I think, yeah, I don't think this is much of an NFT to, to pay attention to. I think it's a bit more of, um, uh, companies trying to gain some relevance, gain some, some news headlines, uh, Making their way into NFTs.

[00:05:36] Andrew: I'm definitely not recommending recommending to mint this unless you happen to be an Wayne Gretzky fan, but, um, just, just, uh, be aware of when companies are getting have, uh, many other ties.

[00:05:49] GEorge: Whatever you miss a

[00:05:50] hundred per shots you don't take. I got to go mint one. I'm going to go

[00:05:53] Andrew: Good. One good one.

[00:05:56] GEorge: I had to, you know, I had to, looking

[00:05:59] Andrew: All right. So we are getting back to, oh, I'm sorry to get someone else.

[00:06:02] GEorge: yeah, just really quick. I to like the overall market, because it was pretty aggressively the other week it's going down.

[00:06:10] but not as much it's

[00:06:12] Andrew: The pace is slowing down.

[00:06:14] GEorge: We're bleeding less How about that? The, the rate of death? Uh, no, the overall NFT market, 16% down looking at a trail in. seven days. Uh, Solana less than a lot of other platforms stop platforms, uh, as opposed to overall and, uh, shout out to our last week, watch the segway last week where we do. a Solano base. Cause we're trying to not be all food all the time. Uh, Solano base our first choice of cardboard citizens. Uh, even though we couldn't mint it because of how fast and awesome the Salada network is uh, it meant it at 1.5 And it's currently sitting at five, five, uh, salon, so five soul. So that would have been a good, nice flip for anyone who listened and executed.

[00:07:04] Good, good job to you. If you were able to get in. Uh, or even pick up something off of four before this one went up but it is in the top 20 and certainly in the top number of so lot of NFTs going and play. So keeping on with, uh, the hot hand that I feel like I have based on absolutely no data, minimal research, obviously this is not financial advice.

[00:07:28] I'm looking at smart C society, smart S E a society. And this is on magic Eden, and this is going to drop because I'm trying to find things that are upcoming on the launchpad, because I think there is a market that is more and more sniping. These types of. Newly minted and launchpad. I think magic bean does a good job curating and building up and just they're there doxing things and checking it.

[00:07:55] Uh, and they have an escrow in place. So like there's some validation that they're doing. And with this one, I see some utility, the actual art of these silly card, photo, realistic fish with different hats and whatnot on them. I think they're angler. And this be both a community, but also a tool, driven and Ft platform analysis and predictions built into it.

[00:08:21] And it's going to be, I think, a salon of focus thing. So this is, I'm kind of going back on exactly

[00:08:26] what I where, oh, be careful when you get all your money up front, how do you make money going down there? That's a question, certainly, but in terms of utility, it's got a heck of a lot more potential utility than let's off of a board aid that I'm watching.

[00:08:39] Just sort of go on Solana. And I have no reason

[00:08:42] why, other than it's mean, this seems

[00:08:44] like a roadmap with things that are

[00:08:47] completed, um, including, discord and other analytic tools in place. So, uh, Andrew, what are

[00:08:54] you seeing here? at this on magic Eden. You know, I do like, that. They say that the team is doxed. As we mentioned, that is privately doxed. Um, they see funds go to a third party escrow interval list. In one day. I do like, there is some utility here, but it looks like it actually, it's not it's not a pass or a ticket type of, uh, NFT we've seen a lot of other, kind of utility based these are actually. Let's see, is there fish, I guess, of a sort with all sorts of different, characteristics to them. So I do like the visual image to them. I think that helps bring collectors in, um, that don't necessarily look at it Um, it helps people maybe try to trade up for better you know, it depends how it's done, but I think that's generally, uh, generally adds more value in the interest to a project. um, and I, if they can really do all these things that are saying they can do, I think that. Really cool tool to check out and, um, yeah, I'm definitely worth or think it's worth giving it a shot at this, um, 1.9. Uh, so mid price.

[00:10:03] And again, I've found that on launchpad, that's going to drop, it, says five 20. So on 5 28, that's when it's gonna drop. And you know, you can, depending on you're listening to it, go onto magic Eden. I'll say that I have liked, I've really liked magic. I think it's a superior platform and many ways in terms of the analytics at open.

[00:10:26] See, um, it shows you like really good price, distributions and activities. And I you know, it's, it's a, it's a platform and the more I've

[00:10:36] gotten comfortable with it, the better I feel like I can, you know, at least make bad decisions faster and more informed.

[00:10:44] Andrew: More informed or at least they're more informed, but no more informed about where, uh, where it's going.

[00:10:51] GEorge: Yeah. Gosh only knows. And I will say I'm just, I'm still floored by how you know, You know, whatever five, but you know, the trip in ape tribe, which is, I want to be clear, pure and utter knockoff don't pass go, don't collect $200 of like, Nutanix, you couldn't, you couldn't even try less to do This and somehow, you know, its I want to be very, Those types of things have got very, very short shelf life. So when I'm looking in here, how has involved? Because if a project like this can take off and larger projects are going to be able to take off out of the salon and network. That means if someone is actually doing something artistically unique utility value, there is actually a decent chance that it.

[00:11:45] Attract the type of people that are like, oh, wait a minute. This thing is actually a good thing, because I think there's a whole separate ecosystem that are like people that are so lonely and you know, more and more big things I think will come out of Solano, whether or not we can hit them with a dart. I don't know.

[00:12:02] Anyway, there's your heartache. Remember not financial advice. I'm talking about fish. They give you access to analytics.

[00:12:11] Andrew: wrong with.

[00:12:12] GEorge: And with that. Alrighty, bye. Lower sell high-ish. So you've heard this adage of in the market of equities buy low and sell high, my son. And you will, you will do just I can't tell you impossible it is. And, and you can actually look on the blockchain and it's hilarious

[00:12:30] to be like, there's exactly like zero people that perfectly

[00:12:33] hit a high and a low, and I see something I want, it's like one out of a hundred

[00:12:36] thousand.

[00:12:36] Get it right. Okay. What that really

[00:12:38] means is we have to emotionally

[00:12:41] and psychologically be fine with hitting the needs. So the price somewhere toward where it's going to be belling somewhere in that bottom 10 to 20%, and then somewhere toward the peak. I mean, recently both, you know, you and I, Andrew were like, we sold before the peak of a

[00:12:58] certain project and we were, you know, oh, well still made something, but.

[00:13:08] Andrew: Yeah, I think it's, I think that's important to think about because a lot of the time you'll see, you'll see people wait too long to sell

[00:13:14] and you know, the idea is, well, ah, should've sold

[00:13:16] when, you know, when it was at two and now it's back at 1.8. Yeah. But I think like the next time it gets to two that's

[00:13:23] when I'll sell and you know, and then it gets to

[00:13:25] one point. You know, it, it gets to

[00:13:27] 1.9 or something, but it doesn't get to that too. And you know, all, I think it's

[00:13:31] going to keep the learner, maybe getting it gets to you. You're like, no, no, no,

[00:13:33] It's going to keep building this time. you've even realized you you've come to the realization that maybe there's no there's new, new catalyst coming.

[00:13:40] That the, the news that already had already broken. And it seems like the market, you know, took it, took it fine, but maybe it wasn't as excited as, as you had hoped. And you keep hoping that it's gonna, that the next thing is going to come and. You know, I don't like to be in that position of just coping. I like to look, be able to look towards something and say, you know, I think that there's a reason that this is going to, to hold value or that, that, that value will be added And, you know, it's something that I try to keep in mind and, you know, certainly not saying that I am always able to sell it the right time, but I think you've got to realize. At times you got to look at, not getting back to You're probably not going to be the one to sell it at the exact tie.

[00:14:22] And that if, if there's, you know, if it's volume and sales are waiting and there isn't something coming that maybe, you know, maybe it's worth selling at a, you know, not at the all time high, but still at a price that. It's going to give you a profit and that you can leave knowing that, you know, you did pretty well on it, even if it wasn't the absolute maximum that could have been away.

[00:14:48] GEorge: Yeah, I think I've made the mistake of holding

[00:14:49] too long

[00:14:51] rather than, you know, selling too soon, more often and more damaging, I'd say, uh, over, you know,

[00:15:00] Andrew: Yeah, I think that's selling too soon.

[00:15:03] I don't know. I mean, there's definitely times where if I

[00:15:04] sold too soon and I think

[00:15:07] it's because when I think of too soon, it's because I sold too soon, almost in relation to the, the event that, that I thought was going to drive the price up a bit. Um, and I think if you do something, think something in going to add value.

[00:15:21] Let that play out before. Before selling, um, let it play out a bit, but also realize that you can sell on the way up and that yes, there could be a higher price, but you've also got the sale when there's attention and volume on the project, because we know that volume can drive really quickly. And that piece there's nothing changed.

[00:15:41] Even the perception of the project or the artist, maybe hasn't changed, but people have just they don't want to buy anything. Oh,

[00:15:50] GEorge: Again, things sit on the shelf for 2, 3, 4 days. and you're being like, well, what happened? I thought the price was there. a floor price is there, but you also need the. absolutely.

[00:16:01] So I'd say, you know how to be okay. Selling for a gain. I've heard the tactic of sort of when you buy a thing being all right, here's my threshold. I am fine with a three X or a five X on something. And if that happens, we're talking about affordable projects, so, you know, to be clear, you know, if you're getting in for like 0.1, like, let's just be honest.

[00:16:20] If I think starts to go around 0.5, I'm going to get curious about selling. and you know, that's still booking, booking that uh, booking that when and you know, what comes up, comes back down. So you can always get back in. Usually when it comes on, comes on the backside, you know, what I was mentioning right.

[00:16:39] I, um, I think I picked it where the current floor is, but I also got that drop. And so, you know, you're, you're saying like I get, there's a natural life cycle to these things and, and, and paying attention to where you where you are on that. But volume is a good indicator. Uh, what's going on and you, you want to ride that at any point because of the way that whales can kind of move into two different projects. And suddenly, you know, you had this floor price that was like pretty far above your price is pretty far above the floor. And all of a sudden

[00:17:09] it's right there. Understanding what that

[00:17:14] looks like and where you are

[00:17:15] at those four distributions, those different plateaus. So are you between the plateaus or are you at plateau is another thing to consider when you

[00:17:23] begin to sort of throw out the rod, cast it out there and wait for it.

[00:17:27] Wait for a bite. Emotionally prepared. That's what I'd say. Be emotionally prepared. And one of the things I really do is I

[00:17:43] stop looking at the fricking thing afterwards. That's my real trick. Just stop putting in the price. If you sold it, you done just don't do it.

[00:17:52] Andrew: Yeah. You know, I think one thing to keep in mind and I said

[00:17:54] this, I can't remember now, if I said this in this episode, I've said it in the past, when you're, when you want to watch some of these really closely, um, you know, there's times where I buy and I'm ready to hold that for a long term. You know, if it's, if I'm buying an artist piece that, you know, I, I really am not looking for a quick flip and there's other times where I, think you know, there is some momentum here and. that it can, you know, there's, potential for this to write up, you know, and sometime, You know, and I, I kinda know that this is one that isn't one that I necessarily think, or in confident will be there, you know, in a year that I didn't want to hold for six months. And, you know, in those situations, I, see it move really quickly.

[00:18:33] I think that there's it's probably a decent time to look for a sale, have, if you did. You know, by two of them, um, definitely nice to be able to, to sell, um, at that point and realize that there's other people that hold are going to see that that price came up quickly and think, well, you know, maybe that and, and sell their piece.

[00:18:55] And then it, you know, it does bring new listeners. You've when the fuller a floor price moves significantly. So if you are watching be potential to, you know, to maybe move in there before, uh, some other people too, and you know, take some profit and knowing