How To Increase Your Position In Cryptos- Without Purchasing Coins

I have some shares in Siacoin- anyone that follows SC knows that for the past couple of weeks has been bouncing around .014 and .017. After spending time watching it for a bit I decided to try to increase my position vi a trading- so basically I sold 125k shares high and then waited until they dropped back down to my buy price and was able to buy about 1.5% more shares than I had originally.

I did this move twice and upped my position to over 28,000 shares.

Several key factors- when I sold SC I went into BTC which remained steady while I had it- had it of course plummeted I wouldn't have had the needed bit coin to buy more shares back so that is an inherent risk in this move and I think makes it best to partake in such a move only when BTC shows solid upward movement/ stability.

Also important to note that this cannot be done with every coin- the more volume the better- I use Poloniex and you can adjust their board to show higher volume traders at the top of the board.

So for example I sold 125k SC at .00000655 and then in a bit it dropped to .00000644 and I bought back like 127.5 k shares

I did this similar move again and from the two moves have over 128k shares of SC

Now it is important that you do you research and spend the time getting to understand the behavior of that particular coin's market. You definitely should be looking at the charts as well as the candlesticks. Candlesticks aren't all that complicated and can be learned in 30 minutes and then the skill of reading them can be honed over time. An easy way to start out is look at a the particular candlestick formation of the last complete candlestick and see if you can find a similar candlestick back in the immediate history. Important also to note that for this sort of trading I'm generally looking at one day charts - I' also using 5 minute candles in that each candle represents a five minute interval of trading.

Here's an example of a candlestick chart I'd look at when timing these trades..........

Here a great resource to learn about candlesticks- interesting that candlestick analysis was developed centuries ago as a means to predict the pricing of rice in the Japanese rice markets............. http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:introduction_to_candlesticks

But if charts and analysis make your eyes glaze over than just watch the board for a while and learn the behavior of your particular coin's market. Again you only want to do this in a coin that has relatively high volume which usually means lots of price movement.

KEY POINT- don't get greedy- be happy with a 1 to 1.5% boost in shares- get in and out- the faster the better and do it in the safe zone price where that coin always tend to go in it's swings as opposed to it's upper or lower limits- stay in the middle!

Now there is always the chance that the coin goes to the moon after you have sold and you are waiting to back back in at a lower price - that's one of the reasons when doing this sort of trade you have to keep your eye on the coin and if it does start to break upper resistance points that you jump in as not to miss the train. And then even though you may have to buy in at a higher price than you'd like thereby owing less coins you're hopefully way ahead on shares anyways because you've increased your inventory by 1-3% every week.

I am not a financial advisor and I'm just throwing this out there as food for thought. For what's it's worth I do have a BS in Finance so that does make reading charts and such easier but I don't think that this is too complex for the layperson to grasp and exploit when conditions are ripe. Best of luck- You can of course do the same with your Steem shares- I just used SC as an example.

I hope some of you find this helpful- STEEM on my friends!