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RE: I daytrade in PennyStocks every day, so why don't I make videos about PennyStocks?
Hello Luc, a bit unrelated to this particular post, but I was wondering if you could give some guidance as to what percentage of your trading funds you keep in USD v. BTC v. ETH.
Obviously with USD, you can trade in and out of BTC/ETH, but having either of the latter two allows trading with the alts, so hoping you could give a bit of guidance on how to manage this balance.
Thanks!
I hold some of all the major coins.. You need to to be able to participate with the alts.. but the balances are constantly changing, there were times when 80% of my portfolio was BTC and there were times when 5% of my portfolio was BTC... it just depends on what the major coins are doing.. but im never completely out of any of them.
Do you think it would be possible to expand on this just a bit? So major coins have been going sideways relative to USD. What's your thought process?
I assume that you hold larger positions of BTC and ETH in bull markets and less in bear markets, no?
Unfortunately no.. I accumulate larger positions during down trends and then sell them off slowly in uptrends.. Buy low sell high.. I do not predict the future, I am a reactive trader.. So its not a decision on how much I want to own of this or that.. its a question of what deals are available on the chart..
When you participate in the next bounce, how do you know when to get out? It could reach the base or it could not. What makes you decide about the exit time?
I layer in and I layer out.. If there is a quick pop, im usually all out fast.. but if its a slow grind higher, then I give it time, and layer out.. There isnt much science to it.. I just know from experience that a quick pop can mean further drop coming, so taking fast money is best so you can reload.. But a slow grind, means the panic is over, so you can start to sell slow..
Thanks. this is the answer, I was looking for.