So I bought in at $72.67 and I have enjoyed this nice swing up. As in any market there are dips and crypto seems to have pretty big swings at any given moment. My strategy is to buy in dips and sell near peaks. That way I can maximize the amount of LTC I have. I thought BTC would dip not too long after 9k and settle round 8k. But as of yet it hasn’t dipped and is holding steady at mid 9k’s. What are your thoughts? Hold and just continue to buy or try to play the high and low game and get more coin?
I sell some when I see movements of more than 40% to the upside in a 7 day period. I prefer to speculate and trade LTC to BTC and back to LTC over and over. At the moment I’m looking at LTC to BTC around .01 and back to LTC around .0089 but obviously that changes.
When I first started speculating and swapping to USD, I found I was really pissed when I missed a big swing and all crypto went up (which happened more often than a dip btw). I find that when speculating in terms of BTC, I’m much less emotional because at any time I’m either holding lots of LTC or lots of BTC (relatively speaking, I’m not playing with big numbers by any means). I just try to scalp BTC with each trade and get back my LTC safely. I use 10 LTC and try to put orders in when I think I can scalp .00N BTC. I look at the price of LTC and BTC on other exchanges a lot. It’s fun, not quiting my day job over it though.
Anyway, retroactively, looks like you might have been able to time a dip pretty well. In the long run, it’s hard to have faired better than buy and hold though, for all the work involved, probably would be just as well off with buy and hold as you would speculating (and there are probably more profitable things you could be doing with your time than watching crypto candlesticks). Still, better than playing candy crush IMO
This is how exchange works. A few years from now we’ll be looking back saying how cheap some of these coins were and asking why we didn’t buy more
…and a few years from now we’ll be looking back saying how dumb some of these coins were and asking why we bought more.