Yung Zo

@yungzo

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40 Followers

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Christmas Parties and Hosting Lots of cleaning and prepping. Wife is constantly baking one thing after another and the kids constantly fighting each other. Backyard is in rip top shape. I cleaned the windows and sliding door. I’ll be breaking out the loquat wine I made and will be entering it in a taste testing competition with my wife’s cousins. It’s a lot of work but it’s always fun.

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I removed twitter and tradingview from my phone again. It’s all bad but i’m itching to read or view something.

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Crypto Taxes I bought the software to handle all transactions. It gave me some suggestions on tax loss harvesting so I sold some big losers to help offset my gains. I was able to lower my capital tax on gains to well below my projected number.

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Crypto Bear Planning I don't know if it's too early, but I'm already thinking about the Bear Szn. I don't plan on selling the little amount of $BTC I have, but would like to add onto it. I plan on selling my $ETH this cycle, but buying back in during the Bear Szn. Goal is to double my current stack during the Bear. I like Solana, because it's the "hotter" blockchain, but do I think it has staying power for next cycle? Possibly it does, but not sure what my plans are during the bear. Maybe I'll just keep my moon bag for Solana, but I won't be adding to my stack. For profits I make, I plan on rotating it into the Stock Markets then rotate some back to Crypto when the Bear Szn comes.

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Crypto Taxes I know I should hire a Crypto Tax Accountant or service. I inquired about it and I have a consultation setup in the new year, but I might cancel it. I think I found a Crypto Tax software I like (cryptotaxcalculator.io). I think it will do the job. My wife was a former CPA and has always done our taxes. The moment I told her we need to include Crypto Taxes this year, she told me to find someone else to do our taxes because there is no way she's dealing with figuring out all these transactions, transfers, trades, airdrops and what not. Then I told her the price of hiring a crypto specific tax person and she was like "hmmm... maybe I can do it". As long as I can get a good Crypto Tax software that integrates with CEX, DEX, and generates a file that can easily be imported into Turbo Tax... then my wife is game for it.

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Crypto Portfolio I'm actually at a new portfolio ATH. Last years mini cycle, I cashed out. I put money aside just for taxes since I cashed out of everyting except $BTC and $ETH. Eventually I got back into the market and tried buying into $SOL and $WIF. I had remaining profits that I ended up rolling into Stock/Equities. It wasn't till after the election, I literally added new CASH (even thought I said I'd try not to) and went fully risk-on. I have my early sell targets, but hoping those start selling next year. I need a good reminder of what my portfolio ATH last year was vs current. I'm UP, even though it doesn't feel like it or I want it to be up more... I literally am UP. I can't get greedy. There's hopefully more time and I better make sure I lock-in my first sells as they will basically make my bags free rolls.

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Irrational (at the moment), but What if..... My exit plan never gets triggered, because my targets never get hit!!! LOLOL that's the crappy side of this waiting game. However, the there is less volatility and it helps that I do have a plan, so I'm anchored pretty strongly at the moment.

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Crypto Waiting Game This is the part of the cycle where certain categories are pumping and certain coins aren't. Is $SOL the new $ETH, and $XRP the new $SOL? I've seen $XRP pump, Defi coins pump, and my $SOL bag not get past it's recent ATH. This time last cycle, I would of FOMO'd and probably sold and tried to rotate. This cycle, even though it's not fun sitting on my hands... My coins will have there turn. My $ETH stack finally moving. I will say that I do plan on rotating some of my $ETH next year (tax purposes) into some newer L1's that were not really part of last cycle's big run-up.

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Ok, I just purchased on Amazon. Value too good to pass up. My kids don't really like pepperoni and the marinara sauce. I'll try making them cheese only pizza! Hopefully this will make them like it.

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I see a good deal on an outdoor pizza oven. It’s not top of line but I think good for someone starting and wanting to try pizza making and baking as a hobby. Amazon has a deal on a pellet oven for under $70 and can get accessories (cutter, spatula, etc) for $15. Do I necessarily need one? No, but the price makes it easy to say Yes!

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Yes, Family household is Filipino. The desserts I talked about going crazy on are all filipino desserts. All are basically glutinous rice cakes. Hope you had a nice Thanksgiving as well. I got all the Christmas lights up and still have indoor decorations to do.

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Thanksgiving Stuffings! I'm really indulging and binging! Thanksgiving Dinner was nice. My entree meal was straight protein (turkey, beef, ham, some carbs from lumpia and cornbread). However, I went crazy on dessert. I really went ham on it. I didn't feel stuffed where you over do it. I did it just right. I enjoyed a cup of coffee at night as well. Then you have the day after Thanksgiving. I really just went crazy on left overs and sweets at the house. Today I don't feel as good bout eating all this stuff, but I'm literally binging hard right before bed. OK OK OK, I really have been good at what I eat. I also try to be flexible. I've also been sick, so it's just really easy to just allow myself. I will clean this up and I'll be back to my normal routine soon.

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My health. Even though I've been sick and been dealing with back, neck, and shoulder pain. I've been in the best shape of my life. I'm in the same weight I was when I first started dating my wife (g/f at the time) and I've been able to do it with a diet that I've gradually configured and altered so that I can enjoy what I eat w/o sacrificing anything. Everyone's good. Life is good, when I take the time to enjoy it, and I really am fortunate. Sure things don't go the way you want things to go at times, but I'm here living. I know where I came from. I know the sacrifices my parents made for me to succeed and I'm here to help provide for my own family so that my kids can succeed and exceed what my wife and I have been able to accomplish. I wish everyone a Happy Thanksgiving Day and I hope everyone enjoys the Holidays.

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Time for Reflection I'm still busy here at WFH life, but i'm making time to just be Thankful and show gratitude. My poor wife got sick earlier this week and she called it too. She's doing better, but I feel bad. I'm almost recovered from whatever I had. I'm no longer coughing as much. No sore throat. I still have some symptoms of pink-eye which is highly contagious, so I'm extra careful with everyone around me. I'm here catching my breath and honestly Thankful for everything I have. I complain about work, but I'm fortunate to have work when others are struggling. I'm fortunate to have money that can be invested and saved. I have my wife and my kids. Everything's great when I zoom out and I actually take the time to appreciate what I have going. Even though I stress about money, we are fortunate enough to have money. My wife can be a Stay at home wife/mom for the kids and I'm able to work from home. We have emergency money in case something happens.

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Another thing.... I think this makes me want to lower my TP for SOL and WIF. If a coin already has hit ATH, then maybe I take more frequent payouts of 10% of original stack. I really just want to make sure I lock in gains.

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I like what Jelle said in his thread: Profits go straight to the bank!!!! Also reminds me of when Ledger was telling Cobie and the Traders on the show to practice doing this just to get a feel for it and he got sooooooooo dunked on for it by everyone. LOL.

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LOL it’s funny I’ve had similar discussion with you last cycle, but it’s one of those things I need to ground myself in so that I come away with profits. It’s easy to get lost and be distracted if you don’t plan and don’t have things setup.

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Alas, I’m human and I will continue to analyze my targets because at times I feel there too low and at times I feel there just right. Too many times, too many people, we all round trip and are left salty. I see the big picture. Why be mad that I miss 6 figs of profits, when planning higher probability rewards still get you 2-4x returns which can be high 5 figs. If your moon shots hit then you can easily be 6-10x and low to mid 6 figs. Took me awhile to grasp this, but it makes sense to me. Opportunity cost is just that. It’s opportunity that easily never comes around or is pushed back for higher opportunity. At some point you need to buckle down and pay yourself!!!

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For me here’s where I was able to ground myself and realize some hard facts. Going back to my example. 1,000 WIF x $1.50 = $1,500 Cost Basis I have a higher probability of hitting targets 1 and 2 and selling 25% (250 WIF) of original stack at each target. That return itself is probably 2-4x your original cost basis. We easily get lost in hitting the TOP TARGET with our entire stack. That is not the way. Some people get lucky, but that’s soooooo much risk. You can almost guarantee yourself 2-4x return by just planning these sells.

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I hit my spreadsheet last night, created a tab for each wallet then tracked each coin. I’m a very simple trader this time around. $SOL and $WIF and that’s basically it. So this exercise has made me setup 3 price targets and a moon target. Target 1 - Attainable Target 2 - Should be attainable Target 3 - I hope it’s attainable Usually Target 1 is enough profit to make the stack a free roll and everything after that is FREE MONEY! Target 2 should for sure make my stack FREE ROLL and everything will be FREE MONEY! Target 3 is where you do not want to get greedy. You don’t want to move the goal post back and be left hanging onto things. Moon Targets are moon targets. On the chance that it gets hit, you just enjoy the mass profits. If it doesn’t hit, and you want to sell your bag, then you have to remember it’s ok selling going down as it’s all free money at this point.

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