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RE: INVESTING COMPETITION (20 SBD PAYOUT) - How to Fight a Bear... Market

in #cryptocurrency7 years ago (edited)

I've done exceptionally well on the DEX trading the BTS:bitCNY pair, which has the best liquidity of any pair on the DEX. I do poke my head into bitUSD:BTS and HERO:BTS in order to contribute to liquidity on those pairs.
During what is being referred to as "the bloodbath" the other day (sunday afternoon into mon night/tues morning), I increased my BTS position by 50%, so I actually came out ahead in USD value even before it formed a double bottom last night and reversed direction today. My strategy consisted mainly of trading stochRSI on 4H, with a little bit of TA thrown into the mix - basically identifying the channel the decline was staying in, finding intersections between the bottom of the channel and past supports to predict where it would bounce for my buybacks, and calling the bottom based on the intersection of 1D trendlines.BTS-retratce-trend.png
Along the way, I spread a small slice of profits around by sniping panic sellers with bids placed bellow market rate. I got some discount SBD (even moreso than it was discounted according to coinmarketcap), which I used to power up before the markets rebounded, got a few LTC about 5% off, and a handful of discount ICOO (they pay monthly dividends).
I do regret that I wasn't paying attention to what XMR was doing until it was far too late to open a leveraged short position.

This is more trading than investing, but I figure it fits here given that it was utilized to increase my position in long term investments - in times of great volatility there is also great opportunity. This is a strategy that doesn't require non-stop attention to price movements (4h stochRSI moves slowly, typically only crossing once every couple days. Constant attention is only required if you decide to gamble on profiting from much more short-term movements along the way, but that's also a lot riskier.
I intend to keep doing this to maximize my position while things are cheap, (hopefully) in time for when the rocket fuel for the voyage to the moon is found.

I should get myself a bearskin rug...

Edit: Upvoted, followed, and resteemed.

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Wow, I'd say you deserve that bear skin rug! Very impressive, nice work!

Hold the applause. We won a battle, and earned a brief respite. They have regrouped - the bulls and bears are going at it again.
Be fearful when others are greedy, and be greedy when others are fearful.
Never make trades on emotion - you will wind up following the herd, and are almost guaranteed to lose money as a result.
Bears make money, bulls make money, pigs and sheep get slaughtered.

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