Good day, mates.
My strategy is to buy coins when the price drops sharply.
Sometimes I fail, because the price drops more than I expected.
But, to prevent this worse situation, I put 30% of my budget at the time of initial investment.
If the price getting down again, I put 30% more.
With this strategy, I am getting some money so far.
In conclusion, I recommend you guys to buy coins when they drops rapidly.
After sharp drop, there should be sharp rising.
A very good strategy but it is not recommended that you should buy when price is at the stage of dumping as the coins may find it very difficult to recover after that and you may still even end the last 30% at loses.I always advice traders to trade using the technical analysis and candlestick chart patterns as this is more accurate than any other strategies.My strategy is to buy coins when the price drops sharply.
Sometimes I fail, because the price drops more than I expected.
But, to prevent this worse situation, I put 30% of my budget at the time of initial investment.
If the price getting down again, I put 30% more.
With this strategy, I am getting some money so far.
In conclusion, I recommend you guys to buy coins when they drops rapidly.
After sharp drop, there should be sharp rising.
Yes, I buy coins when they are going down but its a very dangerous strategy to implement. Buying falling knives can lead to disastrous losses if the asset you are buying continues falling. Many people have gone bankrupt buying falling knives for the following reasons.
1. Their emotions overpower them and they sell out of their shares or coins due to panic selling at the worst possible time.
2. They used leverage and they were forced to sell their shares or their coins by their friendly broker.
3. They have unanticipated bills due to medical expense, auto repair expenses, tuition for child, etc and need to liquidate assets to pay the obligation