RE: Investing 10$-$20 Daily Cryptocurrency Challenge!! (Day 39)
Kudos to you on your challenge! I've been trying a trading approach too that you may like on the side. Not sure which exchange you're on but I've been using Bitshares. I have faith in Bitshares (which is essential to this method) but what I've seen is that since Bitshare has not gained traction quite yet it is still following the crypto trends, but with a light lag.
Basically, even though ALL the coins dropped in value, BTC, ETH, PPY and other more popular coins still rose in value in comparison to BTS and right now its relatively low with a steady climb.
Example: I buy 1,000 BTS worth of BTC and set a sell at 50% gain for 1,000 BTS back. That way I've expanded my portfolio to include BTC and I retain my original BTS amount once the sell processes.
I'm playing with small numbers being a simpleton but this method has been my most successful so far.
I appreciate you post and your thoughts!
Wishing the best for you and your family during this trying time.
-mqberry
I tried to do that one time but my cryptos never shot up and just dropped this was during the December-January drop then when they were about to go threw i was like noo i can sale them i see them rising and wanted to keep them.. I should have sold them because now some investments after the smoke cleared with this the drop (fingers crossed) we are done dropping some of my investments i made at the peak in altcoins got wreaked -2x to -4x so i wish i had sold and then re buy at a lower price creating real profit.
Its just so hard to let go of my babies lol i dont expect any to ever to hit BTC prices or even ETH prices but i hope the still create some amazing gains by long term holding.
I forgot i day traded ripple during its rise to $3 i bought in at a low price too and sold trying to day trade sold for profit then bought for a loss to then sale for a loss to then see it spike after that i sat and watch the stock all day for like 3 day to buy back in and never got the shot. I sorta did this.
I most DEFINITELY appreciate your diagram above. It sounds to me like you and I are in a similar boat with the day trade experience. Being too novice to be investing I bought in at 70 cents when the BTS price dropped from 80... then I bought in at 50... and 45... and 30... And now here we are at 12 cents. Painful, just painful.
Being at the low, however, aside from the last drop for BTC (and the rest of the market) the relative exchange value between the big players (i.e. BTC, ETH, RUBLE, etc.) have been moving in my favor.
I'm keeping my fingers crossed for the anticipated big climb in June/July. Shortly after my buy backs will kick in and I'll retain the initial amount of BTS with additional investments in these other coins as well.
Wishing us both much luck!!!!
Steem On!
P.S. Great opening photo for this post BTW - it sets a nice tone to the post.
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