Post
Topic
Board Speculation (Altcoins)
Re: How to trade when the dip keeps dipping?
by
Suslived
on 21/05/2018, 02:33:54 UTC
Not sure about anyone else, but I buy in the dip and then it dips further!  Is it best to just stay out and accept that it's all too difficult at this time?

Making a conscious effort to time the dips is a good start and you're on your way to profits. However, i would suggest that you buy dips close to the resistance levels.

What are resistance levels? You can google this and learn more about it but basically, it's where large buy/sell orders are placed and are the usual culprits that restrict the value of a coin from going up or down. Imagine a coin is going up in value from $700 to $750 but then at $750 someone places a sell order worth $1 billion dollars. Obviously, those selling at more than $750 will never get a chance to sell. This is the resistance level and you should usually try to place a sell order before that value. Same goes for buying dips, place a buy order just before the resistance level.