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RE: When You're Looking at ETH / USD Going Up and STEEM / ETH Going Down...

in #trading7 years ago

I hear you - it is kind of a pain in the @$$. But, if it wasn't hard to keep your portfolio balanced, everybody would be making a $#!t-ton of money. And, we aren't all doing that - we're just trying to make more than we lose.

STEEM and Steem Power present a unique challenge: Power Up? Or, keep it in Steem Coins so that you can take profits when STEEM is having a spike? For me, the choice was clear: Keep 100 SP at all times, use it to generate some profits, and take them as they come. This week, it's about 5 STEEM for me. So, about $19 after I exchange it. But, what to exchange it for??? Cash? Alt-Coin? Ether? BTC? The decisions are endless.

This is where good TA skills come in handy. I just go and look at Coin Market Cap, see which ones look interesting, narrow down my choices, update a few TA charts, and put it into a coin that is on the lower side of its' channel. This requires daily attention and trades. And, some of those trades are going to go bad. So, how do I handle that? Well, cut losses at 5% and take profits anywhere from 10% to 30%. This may well limit my maximum profits, but it is a strategy that keeps me doubling my money ever y 2 -3 months in a bull market, and making about 10% profits in a bear market. Little by little, it stacks up.

But, it's only digital air - not real. So, every so often, I trade some BTC for silver and/or gold bullion. When it's in my safe, at home, then it's REAL.

How big is your stack? Mine is getting bigger - and that's the point.

Coin Marketplace

STEEM 0.26
TRX 0.20
JST 0.038
BTC 95558.45
ETH 3626.15
USDT 1.00
SBD 3.80