Why Don't People Listen? Buy the Rumor Sell the News!
Litecoin Officially Launched Segwit This Morning.
People Can't Understand Why the Price Dropped.
I have to admit I used to be one of the people who bought when big news came out and I could not figure out why the coins I bought kept dropping when I purchased. Then I wisened up and began to educate myself on how to handle my crypto currency trading.
I now begin to build a position in a particular token when I hear that news is going to be released. Then I will slowly sell my position until the news is public. This tactic has worked great for me since I am not someone who uses charts to set my positions.
The only charting I do is avoid the winners and look for the coins that are down for the day. I also will take the plunge if a quality token takes a large hit in a short period of time and is at or below where it began a rise.
Here is What Litecoin Looked Like After the News of Segwit Activation.
%20BTC-LTC%20Litecoin.png)
I Have Lost Plenty of Bitcoin Over the Years Due to Inexperience.
You have a treasure trove of experienced crypto currency traders on Steemit. Learn from us and I promise you won't have to feel as much pain as we have.
exactly what i said today on steemit.chat
I think over time anyone who is serious about trading in this biz learns it the hard way.
100%, no other way to learn than to get smacked few times ;))
I find trading too stressful...especially if you sell and the price keeps going up.
Now I just buy the amount that I can comfortably hold and just wait....a long term investor.
That works for most people but I love the action.
Great post, and very insightful. I agree with your approach in building early positions and selling into news as it reaches the mainstream. Thanks for sharing!
Excellent points, at this point in the crypto sphere it seems much better to trade based on news and developments rather than the charts as long as you take a position early. Your strategy is very good.
Also I dont know if you saw, or if this interests you, but there is a Litecoin contest and the prize is 210 LTC roughly $6500
https://steemit.com/cryptocurrency/@digicrypt/win-210-ltc-for-solving-litecoin-segwit-crypto-puzzle-contest
Keep up the great posts!
Share the love!
As someone that bought $100 in litecoin a few days ago (its now worth $111.85) but was up to $130ish. What seems to be the issue? I am very new to Cryptocurrency, but unless its a simple day trade game there really should be no concern right?
No concern but if you would been hoping for a continued rise today you would have been disappointed like many were.
Any one that is looking for continued rises day in and day out without dips and corrections will be very disappointed in ANY investment. The market will have it ups and downs but in the long run the market generally will continue to grow. If it were to stop growing we would all be in trouble and whatever amount you have or had would be irrelevant.
up/resteem
Going up soon though.
Next news is Lightning Network activation.
Very true.
Man, you're like a golden nugget to me....knowledge is power!!!
Excellent post
Thanks for sharing & the Tips
I have only been into cryptocurrency trading for the last couple of months. Still learning everyday