Moving without a goal is useless. It is important to have a goal. So you have a track to run
Hi Traders,
This is the 3rd part of the series "How To Earn By Crypto Trading" and today we will talk about "Creating Goals And Make Sell Bid Today". Creating goals in crypto are important as like in real life.
You can read my previous post here below
"Balance Your Investment And Invest Wisely"
"Create Portfolio For All Of Your Investment"
What Is Creating Goal In Crypto ?
What is our goal in crypto ? of course earning. How much you expected from a coin to grow on a specific time period is your goal. This is good for long term holders, whose goals are more than 3 months old.
Setting Your Goal - for example, if you have invested in Steem and you are expecting from this coin to grow to $10 in 3 months then create a sell bid today for $10.
Why today ? because we are humans and we want more and more money. If we don't create a sell bid today then in future if the price of the coin reaches at $10 then we will not sell that coin in hope that it will pump more. May be price goes more up like $13 but the problem is we will not sell them because we want more and what will happen a day is, the price of coin will again goes down to $10 and we regret to sell them at $13. Now we will again hold that coin in hope it will again goes to $13 but in actual the coin start goes more down and this will create panic and frustration in mind.
May be you don't believe on these above line but this is true and happens many time time with many users. So better make a sell bid today for your coin and if you think that may be price of coin will pump more then your bid then you can sell some percentage of your coin, so at least you made some profit and now you can risk your remaining profit money.
This strategy is better suitable for those traders who have holding power. Although we use bids in short term trades too but its more beneficial with long term traders.
I have 5-6 six coins with a sell bid so in future if the price touch that coin then the coins will be sold automatically. There is an another big profit of creating sell bid is, sometime we can see huge pump in a coin for a very short period and if we have created a sell bid then we will earn high from it even when we are not online.
This can be more suitable for pump and dump coin. Buy a pump-dump coin in dump and create a sell bid near to its all time high price and in future if the price of that coin pump then we can earn while sleeping and may be we will miss that pump if there is not any sell bid( In case we are not aware of that pump ).
You can help me by Re-steem this post so i can cover more minnows. My motive is to help minnow grow and to gather more information about the crypto market so they never lose their hard earned money by doing silly mistakes.
Please do not take it as a financial advise. THIS IS NOT A BUY REQUEST. It is just my analysis,opinion and result of readings. So before investing in any Crypto currency, do your own research first. I will not be responsible for any losses
Thanks for reading...
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