[Acid Trades] Introduction and strategy
Hey everyone.
So this is going to be the post where I will explain my strategy with my trades and goal. I decided to only trade with my own coins as to not get into any legal troubles no matter the amount and who knows how much I'll end up making (or losing :P) and just so everyone is aware (disclaimer) this is not financial advise, it's just me trading and being open about what trades I will do, what coins I will trade and invest in and why.
My goal is to start small, once I get to a considerable amount that I'm not comfortable with having on exchanges the goal will be to turn all profits after that amount back into Steem.
Coins I will be looking at the most are going to be coins that are unique, have a unique goal long term, something that's not just "lol let's put this on the blockchain" but something that actually needs a blockchain. Other than that we will also be looking at volumes and past performances in volume. The more volume coins have on legitimate exchanges such as Binance the higher the demand is for them, although these things are easy and cheap to fake there are some coins I trust and believe will do well in the near future.
Since this is going to be an investment and trading I will naturally only be trading coins that I believe will appreciate in value over time. The trades in question will be rather small where not a big portion of the whole investment will be traded with, this is in case some of them decide to go up a lot in this year we won't have sold the majority of them at the earliest movement and can decide what to do and how much to sell once it's made higher highs.
I will be documenting everything in my Steem posts and I think being open about this will not only let others follow my trades and execute them at the same time, but it will also garner some trust of my readers that I'm not just talking out of my ass and prove that I'm actually investing in these myself.
I will also be letting my readers know about my sell orders, although the exact price will not be made public as to avoid front-runners (if I place a Steem sell at 1980 and someone front-runs me at 1979 for instance) but I'll give you a ball park and once that trade is executed I will document it with screenshots/videos as proof.
The strategy will be to be invested in many altcoins that have potential and often tend to move up and down consistently. We will mostly be trading with 5-25% of the whole investment at a time and once profit is taken we will place buy orders back lower into these currencies or into others in our portfolio that have yet to go up in value or those that have gone down since our initial buy in to lower the average buy in price.
I think this is going to be a fun experiment and something that my followers have been asking for some time. This post is just to give you a small preview of my strategy, in the next one I am going to be talking about which coins I will be investing in and why so stay tuned for that. Shortly after that we will start entering positions into these currencies, maybe I'll do that after talking about a specific coin and giving out more info as to why I chose that one.
Let me know if you'd like me to do more extensive posts about each coin I will be investing in or if you just want me to mention it and enter a buy position or order when talking about it. Not all coins will have well thoughtout and researched content - some of them will be about the volume and general past performance/goals/team/history about them.
Cya in the next post. :)
