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yes, as I understand it you start to buy at some distance below the base. First buy a little, and you also set up bigger buys for when the price drops even lower. This way it is layered (nibbling). To keep it safe: whenever you are making profit start to sell layered.

thanks for fielding some of the basic answers for me.. much appreciation :)

Maybe you can write the basics somewhere so we can study them. :D

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