I thought I would share my view on trading Cryptocurrency, especially at this turbulent time.
I started my crypto journey when BTC was at around 3500$... Seems like ages ago but it's actually no more than 6 months or so.
During this time I've been trying everything... FOMO or fear of missing out has been huge so I've done everything on that department too... Day trading, holding, swing trading, trying to catch an uptrend... Pretty much everything people advise us not to do I've DONE IT!!!
(First advice)
And here is my conclusion to it all... HODL !! is the best strategy out there. When you are holding you are not losing anything. What goes down must come up. There have been coins where I thought "this one is done for" but then it rebounds and comes back up, and stupid me sold just right before rebound, or that's how it seems. Anyways HODL !! Strategy is never wrong.
(Second advice)
20% - 30% - 40% -50% - 100% - 200% we are all familiar with these percentages, right ?? If you invest 100$ into 1 particular coin and that coin goes up to 50% or even 100% or like I had luck with TRX - Tron that it went up from 235 satoshis to 1300 satoshi where I sold out... that's like 4-5x of my initial investment. You know what I did? I sold only my initial investment. I sold TRX at 1300 satoshi level but only 100$ worth. Everything else that I've managed to get during that uptrend I kept. So I'm still hodling a bag of TRX but difference is that now I don't care if TRX will be worth 1$ or 0.000001$, of course, if it went to 1$ I would be VERY happy :) but my initial investment is back in my pocket, nothing is lost and I got everything to gain. That's SAFE play of crypto game :)
(Third advice)
Accumulate EVERYTHING!!! you will never know how much it will be worth.
At some point in my crypto adventure, I decided to spend few days and enter EVERY single airdrop I could manage. Found many airdrops, filled out google forms with my ETH address and voila got some strange token for god knows what... Many of does tokens are worth diddly s**** but just yesterday I found 1 token that I've forgotten about and it's called Rebellious. Checked it up on coin market cap, 0.15$ and I got 4000 of does sucker... that was like 600$ out of thin air... But MY biggest surprise was Deep Onion.
I found Deep Onion when it was at around 0.60$ and I thought to my self " 0.60$ if this one can manage to get to 1$, and I get with airdrop 100 of onions that's 100$ and that's good enough for me" But what happened? I got sucked right into Deep Onion community and Deep Onion project, accumulated some Deep Onion and price spiked to 20$ a pop... BEST decision I've ever made. On January 10th it was trading at around 18,76$ .... 18.76$... should I write it again? 18.76$ :P With a bitcoin dropping in price so did Deep Onion and at writing moment it's trading at around 8$ but it's a hell of a lot more than it was when I picked it up at 0.60$... And I truly believe that this one could reach a pretty nice market cap and price at around 50+$ ... perhaps even 100$ a pop. So plan is to follow my own advice, accumulate more, and since my initial investment is already back in my pocket... just hodl it to the end :) :)
So to put this all in a perspective.
- Accumulate anything and everything.
- If you buy a coin after it reaches certen percentage, sell off you initial investement, keep everything. If it drops rince and repeat.
- HODL for what ever it's worth.
- Get into Deep Onion :)