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RE: Trading Update from Monday's CryptoMarket Panic. DID I MAKE PROFIT?
How long will you hold DCT/BTC waiting for a higher bounce before adjusting your sell order down?
How long will you hold DCT/BTC waiting for a higher bounce before adjusting your sell order down?
Hi @ed21857. I typically don't move my sell order down unless another panic happens. When another panic happens, I'll go ahead and buy more to have an average buying position that's lower. Then go ahead and sell off on the next bounce for a little profit or sometimes small loss. Here today was a good example where a buy happened on the next panic to be at an average position of ~17k satoshi and sold above 18k (~6% ROI total).
Now if the coin's price becomes stagnant (like for a few of days), then i'll sell off the rest of the position.
What is the minimum timeframe which should take into consideration when trying to determine the 'base'? Hours, days? I am not sure ever heard this by Luc. Thanks LuckyFlip, keep up the good work and publish new blog posts please!