The Factor Report@PeterLBrandt
An Olive Branch to $XRP holders
Accept it if you will, reject it if you must, but I offer it with good intent
Over the years I have taken some hard shots at you and your $XRP asset. I admit my rudeness.
You've now had your chance to return the "favor." I get it. Some of your comments were well deserved, some outright uncivil, others funny and creative.
Yet, let me explain the motive of the criticism of earlier years.
In 1981 I went "all-in" in futures trading. I started with a pittance and I had to build my account and support all my family's needs from my trading account's profits.
What I learned early on was the absolute need to protect my capital.
$XRP has repeatedly over the years lost 80%, 90%, up to 97% of its value to $BTC which I consider to be the "store of wealth" standard.
As a trader needing to guard my capital, holding onto a speculative asset losing 90% against a more stable asset is the definition of insanity. A further definition of insanity is doing the same thing over and over expecting different results.
It is not so much this roller-coaster ride of XRP/BTC that I have made fun of -- but rather the dogmatic, obnoxious, often unintelligible defense XRP holders have spoken during periods of great unrealized losses.
It is that attitude I have been critical toward, not you personally and not the fact you've been committed to make your lives better. This pursuit I applaud.
I joy in your success at present. As a career trader nothing makes me happier than to see other speculators climb the mountain successfully. I would never disparage your success, only your attitude of defending 90% declines against an asset with more stability.
I am not allowing replies to this X post. If you accept my Olive Branch, thanks for your graciousness.
If you decline it with only rude or gross feelings, that's your choice.
Be assured that I have made my last X post about your precious XRP. I wish you the best with this asset.
My faith has never been in a trade or an asset. My faith is entirely based on my approach to cut losses quickly and allow for profitable trades in whatever asset I've held to grow. I will stand by that faith. And I stand by my belief that any asset that routinely can lose 80% or more against a more stable asset is an insane way to grow wealth.