Hi . You have some valid questions from my trades in terms of Luc's position trading strategy.
For NEOS, this is just a nibble, about half my original buys. I took the "nibble" because I'm familiar with the history of the coin(as I stated in my reason under my chart) as it presents 20%+ returns every few days. It's a risk/reward factor. If it goes lower, then I plan to add more up to my regular buys. But to your point, 87,500 would be the base in Luc's position trading strategy. I did buy at mid 84s about 3-4% below the base. This is an important point for new traders or traders only familiar with luc's strategy, and I will put an edit in my blog that this is a nibble.
For ADT/ETH, I don't usually put emphasis on position trades because this is a low volume coin. The coin has dropped and given me the opportunity to buy low so I can sell off high on these spikes and pumps that happen almost everyday. I'm very familiar in trading this coin which points to bullet 4 of my post. Out of all altcoins, this is the coin I have made the most money off of so I will always take a position on this when I think it's low.
In this post, I just wanted to emphasize some different things to consider when taking trades on altcoins because alot of them are going to drop when bitcoin rises. Keep in mind, you are doing something right by just taking trades with altcoins in general because
- bitcoin price is high due to FOMO and we're taking advantage of this by selling
- we're taking advantage of discounted altcoin prices.
However, if you only follow Luc's base trading strategy, you should never go wrong on ALMOST ANY trade.
RE: OneLuckyFlip’s Crypto Trading Tips and Tricks: Trading on a BTC Price Rise