Hey Luc, I love your videos and am at the stage of playing with small trades to make sure I'm understanding how to find my bases; thank you so much for your time and effort!
I had a question on trading alt coins with bitcoin. Do you have a simple method for determining/adjusting your selling points when bitcoin is rising? I've noticed you mention you keep most of your account in USDT, but some things you'd have to use BTC for right?
I've posted a chart below for reference on my question. I made a small trade on EOS anticipating a bounce, only to see it fall way more than expected over the last three days. However, when i did the math of what i'd need to sell to break even, my selling price is lower now that bitcoin has shot up by 3 or 4 hundred. It made me realize the fall might not be as bad as it looks. I was just wondering if you might have already dealt with this problem and found a good way to process it.
First of all I see now that my bases marked blue were not as strong as the previous ones marked red so maybe I acted too hastily, but again it's a small trade just to learn so no worries. And I'm certainly learning :)
What I noticed after some calculation was that the green circle will currently net me back about the same amount I would have made if I'd sold at my original blue circle back when the buy was made at a low point. I basically just planned to sell back at my base to be safe. But at this point my base (in reference to USD dollar amount of payoff in bitcoin) is lower on the chart due to the price of bitcoin going up.
This is kind of hard to explain, but hopefully it's coming across. Just wanted to know if you had any guidance or methodology on this observation.
Thanks again for being such an awesome teacher!!!
RE: BTC almost $4,000!!! Will it hit $6,000 or more? Where do I take profits on my Free coins?