Do you trade actively? What's your trading Strategy?
When I started my crypto journey a couple years back, I didn't have full idea how the markets worked, and I invested a little sum of money (seemed a bit much to me then) into Ethereum or so (can't really remember the details), after a while (just a couple hours) it dipped and I was already afraid. I then traded it for BNB towards the end of the day. I woke up the next morning and BNB had pumped a little, giving me some good unrealized profits , I felt like a trading expert already. I didn't know that I knew nothing.
After a lot of panic sells, missed opportunities, and a couple rug pulls, the money eventually turned to dust.
I remember my first time experiencing a major dip. I was addicted to watching my portfolio at the time, dreaming of how much money I'd make when one of my coins does a x10 or more. I dozed off with my phone in hand that night, and when I woke up, lo and behold everything was red. I had to ask the person who introduced me to crypto If this was a glitch and it'll return to normal the next day. It didn't, and that was the day I decided I'd stop actively trading. I'd just hodl because I was very emotional at the time.
Till now I still don't trade actively, except one or two times when the Korean Whales are pumping hive and HBD. Then I usually do some scalping.
Recently I noticed that a lot of the time, G.M.T midnight to early morning is generally when a mass pump or mass dump starts, and those who are asleep end up waking up to see they've missed a massive pump, or they wake up to see their entire portfolio red.
I don't trade actively, but it's always fun when you make quick profit off a once in a blue moon trade. Like how a few days back I was able to catch HBD at 1.65. Lucky me, I was about to go to bed, when I just decided to ask someone I hadn't spoken to throughout the whole day why they were awake. And they told me HBD was 1.65.
It also happened a couple weeks ago, where HBD reached almost 3 dollars or so. I was awake for this one, but dumb me, wasn't looking at my phone. I eventually caught it at 1.5, before it went back to its regular price (1 dollar).
Now I'm someone who tends to stay up late and sometimes I get lucky and catch these pumps, but then I know I won't always get them.
But then there's the traders who are day trading, swing trading , and always on the lookout. What's their strategy? Because no matter how good a trader you are, there's no way you can always monitor the market.
I'm pretty sure in order to combat the unexpected midnight dips they make use of stop loss, which helps, but then there's the chance the price hits your stop loss for a minute and you're knocked off the trade.
The unexpected pumps are the tricky part however, because no one knows when they will happen, and how big they'll be.
In the end we just have to realize that we can't win it all. In crypto we just have to make sure our wins are more than our losses.
Do you trade actively? What's your trading Strategy?
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I trade, and have done so for more than a decade. I DCA and then watch my positions grow over time. I do some technical analysis but buy the dip in damaged sectors and sell when my gains are over 15%.
Wow, that's a great tactic. Seems you're an efficient trader. Thanks for Sharing.
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Thanks. Yes, the key is to not be greedy. Once the price target is reached, the position is sold
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You just reminded me of a saying that goes this way "always keep your eyes on the screen if you are a crypto investor"
Thanks for sharing
Hehe, But the eyes can only be on the screen for so long.
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If you trade actively, your trading strategy is likely based on a number of factors, including market conditions, your ability to execute trades, and your overall goals.
When it comes to market conditions, you'll need to consider both the current conditions and your forecast for the future. For example, if you believe that the market is going to continue to rise, you'll want to consider buying stocks that are undervalued. On the other hand, if you believe the market is going to fall, you'll want to sell stocks that are overvalued.
Your own ability to execute trades is also an important factor. If you're not confident in your ability to make money in the market, you may want to consider a different strategy.
Overall, your goal with active trading should be to make money.
Thank you for this piece My friend.
Thank you, for this magnificent contribution.
!PIZZA
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STOPCheck out the last post from @hivebuzz:
I had to make changes in my daily routines(sleeping) in order to get close to these pumps and dumps. But still need some time to get over the laziness lol.
Btw hope you get to grab more chances in the coming days.
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Yeah, the sleeping routine of traders is usually botched a lot of the time.
Thanks, i wish you the same
!PIZZA
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Active trading requires a lot of time and skills that people don’t have, or are not willing to commit. One thing you learn though, the market is no place for a naïve beginner, most of us learnt this the hard way.
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Exactly. There's just so much time in a day, and no one knows the crucial moment when things will go in your favor, just predictions.
It's almost like the hard way is only way to learn. Never seen a crypto guru who didn't lose at one point.
!PIZZA
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True. Loss is part of trading. All professional traders know and accept this, and have risk management strategies that factor this into their trading to minimize the losses.
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I think at the beginning everybody feel like you when they get little profit 😂.
I have only one strategy in trading and that is somehow I have to reduce my losses or not to loss my fund. Profit comes itself if loss reduce or don't loss asset.
Hehe, but at times there are assets that are stagnant.
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I noticed the pump in the midnight too, that is when I sell most at times, but crypto prices can be hard to guess at times, no one knows it all, we just have to do our best and leave the rest because no one can be at two places at the same time.
Exactly. At times I'm afraid to sell because what if it that's just the beginning of the pump and you sell too early. In the end life is a risk, and you just have to choose the one you think will most likely pay off
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