Market movement is not a bad thing.
I am no market expert or crypto analyst. To be honest I don't really know that much at all about crypto or how it all works. Not compared to the twitter experts that you see every day shilling coins.
The little bit that I do know is from experience and three years in this space.
At the moment I don't think that anybody knows whether we are about to shoot upwards or drop like a stone. It's very finely balanced right now.
What I do know is that a market like this will give us a lot of opportunity to increase our holdings. By playing it smart and relatively safe, we can increase what we have sitting in our wallets.
My favorite way to do this is obviously operating on hive by writing, commenting and playing games. Doing this every day will increase your holdings risk free.
The other option that I have taken is by playing on the markets a little bit. Higher risk but a faster way to make some small gains.
You buy a token, wait for it to rise and then sell for profit. When it drops, buy back in and move the excess to another low priced gem. The danger in this game is if the prices never recover and you lose your investment. This is always a risk as we have seen when projects hit a bear market and can't survive. It can be avoided however by doing a little due diligence.
- Use case
- Utility
- Development
- Community
- History
These are the things that I look for when playing with the markets and won't just buy into anything that I see shilled on Twitter.
Telos
This is one that I have been having fun with lately. If you look at it's price chart you will see a lot of fast pumps followed by gradual dips. By buying in at the 10c-15c levels it has been easy to make some gains when it pumps to over the 30c mark on a regular basis.
What I have been doing is setting sell orders for 50% of my holdings all the way up to 50c and selling all the way up.
After I have bought a few thousand of the token, I will then sell all of the way back down to 10C. At this stage I have accumulated about 4x my initial holdings and will be holding 50% of them for the long term value of the token while using the other 50% to keep adding to my stack. It's a great token with a lot of apps, community and development behind it.
Over the next couple of years I can see it doing very well and getting into the dollar ranges. That is why I don't wat to play around with all of my holdings as I might miss the big pump that takes it all of the way up there. I can see it happening at some stage as it makes more exchange listings. For the moment I have to use probit for my trading but they will keep expanding their reach and have an ambitious team driving it's development.
Simply put.
Buy low / Sell high
Repeat as often as possible.
If I see a token pump 200% in a day, that is rarely sustainable and I am delighted to sell out and set my new buy in point. The same goes for a good token that drops 50% in a single day. The chances are that it will jump back up in the next 24 hours and can be used to increase my pot. It's worked OK so far.
Posted Using LeoFinance Beta
