Post
Topic
Board Trading Discussion
Re: Let's share some tips among ourselves.
by
DVlog
on 21/11/2023, 17:39:15 UTC
I prefer to do DCA when the market is in a downtrend. I tried to buy every dip possible and kept doing this till the coin flipped. If you want to keep my profit booking strategy, then it totally depends on the bitcoin market. As soon as i got confident that bitcoin is at its peak for this bull season it was time to start booking in altcoin too. This is the time when most of the altcoins start pumping and start making new ATH.

Altcoins? Not too bad but you know how manipulative altcoin can be especially when the market is greenish and majority of them will dance to rally around with bitcoin and dump suddenly. I know you might already have a coin in mind but you need to be extra careful especially with the coins in which the team behind the project is anonymous or not very transparent about their identities. Altcoins are some time very good to make profit with but the risk is so high.

Every time, it's not the team that manipulates the market. Whales also do this and Luna can be the best example of this. The tokenomics model they followed was so bad that it scrawled their whole market and their investors lost billions of dollars. I can still remember those events and how everything happened so fast, even though I lost almost my entire portfolio at that time. That is the reason i don't put all the eggs in a single basket any more. I tried to diversify to minimize the risk. I am just trying to invest narratively, which means there will be an allocation for different types of cryptographic narrative tokens.