Hello Fellow Steemers!!
I have been following, and reading a lot of your articles on #Steemit. There have been some really great articles for me to read as a newbie to the platform. I especially like the articles on gaining Steempower.
I have been treating the Crypto Steem and counter part Steem Power like any other stock and have had pretty good results, so I thought I would share my plan to increase my SteemPower.
Like many folks on Steemit I was a couple days late to invest early with Fiat so I am behind the 8 Ball
Damn you 8 ball, damn you!!
Luckily though I was able to purchase some Steem coin early on at around 174000, so not so bad, as you can tell from the expression on my face.
Since then I have been trading and trying to make gains every few days or so when I have some free time. Watching for spikes to sell and keeping an eye out for dips to buy. I am usually looking for a 15 - 25% spread. Typically in a given week it happens a couple times if you keep your eye on the Exchanges.
Over the past couple of weeks many members have gained lots of Steem and some may be cashing in on their new found riches, or maybe some want to convert some into Steem power, either way watching the exchanges is a really good idea. With stocks I look at a total position I would like to take lets say its $1000.
I will look at making 4 equal buys of $250 each time so that it averages out, most of the time I come out ahead, and in one case I really came out ahead huge!
Just yesterday I did multiple sales on the exchanges using the same principal, and averaged out at 640000 ish. Now today I am peeking at the exchange and we are sitting at 490000 an approx. gain of 25% if I were to buy my full position back right now. But you guessed it, I won't be doing that because what if it goes down further. Yes, I will be making multiple buys over time to regain my full position in Steem and hope for a good average overall. I am also looking at transferring some of that #Bitcoin I earned on the sale into #Steempower as it is a better buy than yesterday because the market is down. I purchased a little bit of SteemPower yesterday .2 bitcoin, and if I purchase another .2 Bitcoin tonight I will have averaged out with 12% more SteemPower than if I had bought .4 Bitcoin yesterday all at once.
Thank you everyone for reading my first post and remember to keep your eyes on the exchanges..
Steem on my friends!!