I was trying to buy doge when it was a penny. But I didn't have a good way to do so
HODL
I've made about $10k from SHIB in the past 2 weeks. I have no intention of selling for a long time. Crypto is just speculative. I don't buy lottery tickets, gamble at the casinos, drink alcohol, use tobacco or any type of weed product. All the money normal people waste of that crap, I waste on crypto. I don't consider it an investment.
I've made about $10k from SHIB in the past 2 weeks. I have no intention of selling for a long time. Crypto is just speculative. I don't buy lottery tickets, gamble at the casinos, drink alcohol, use tobacco or any type of weed product. All the money normal people waste of that crap, I waste on crypto. I don't consider it an investment.
Doge is stagnant. I'd have to look into if they allow day trading. If so, I might get in and ride the bumps. They never have highs. Did that years ago on common stock.
Here are some details of a crypto strategy that works me.
Keep about half of your funds locked away in “Buy and Hold” strategy. Stored in an offline wallet preferably.
Keep about half of your funds in Binance.US exchange (or another exchange that integrates with your bot provider below.) and converted to USDT tokens.
Use a third-party Bot to make trades when conditions are met, allowing you to define a strategy and not have to manually watch the market to make trades. For the bot, use 3Commas.IO or another crypto trading bot. This account connects to the Binance.US account and places trades from the DCA (Dollar Cost Average) bot based on buy triggers. 3Commas sells buy/sell indicators for a monthly fee, but the built in (free) Trading View indicators are amazing.
The key and I mean the key to this strategy is to understand the concept of Safety Orders. Safety Orders are NOT a Stop Loss. Safety orders are additional purchases you configure in the bot to protect when the price of the coin goes down. This allows you to buy more when the price drops. Why would you do this? Because as the price drops, you buy more (and a larger number of coins) and more, then when the price turns around, you don’t have to go all the way back to your original purchase price before the overall trade is positive.
Stop Loss is a sure way to give away money. I would rather just wait for the deal to be profitable, and it may take weeks/months, so it is better to have a few smaller bots instead of one big bot.
With this strategy, using only 1 bot, you could monitor a number of coins, and have an order automatically start when the buy condition is met. Then sell when the sell condition is met.
Anybody have any questions? FYI, just a customer, not selling anybody anything.
Keep about half of your funds locked away in “Buy and Hold” strategy. Stored in an offline wallet preferably.
Keep about half of your funds in Binance.US exchange (or another exchange that integrates with your bot provider below.) and converted to USDT tokens.
Use a third-party Bot to make trades when conditions are met, allowing you to define a strategy and not have to manually watch the market to make trades. For the bot, use 3Commas.IO or another crypto trading bot. This account connects to the Binance.US account and places trades from the DCA (Dollar Cost Average) bot based on buy triggers. 3Commas sells buy/sell indicators for a monthly fee, but the built in (free) Trading View indicators are amazing.
The key and I mean the key to this strategy is to understand the concept of Safety Orders. Safety Orders are NOT a Stop Loss. Safety orders are additional purchases you configure in the bot to protect when the price of the coin goes down. This allows you to buy more when the price drops. Why would you do this? Because as the price drops, you buy more (and a larger number of coins) and more, then when the price turns around, you don’t have to go all the way back to your original purchase price before the overall trade is positive.
Stop Loss is a sure way to give away money. I would rather just wait for the deal to be profitable, and it may take weeks/months, so it is better to have a few smaller bots instead of one big bot.
With this strategy, using only 1 bot, you could monitor a number of coins, and have an order automatically start when the buy condition is met. Then sell when the sell condition is met.
Anybody have any questions? FYI, just a customer, not selling anybody anything.
Yeah I read about SHIB over the summer and it was a hassle to find a way to buy so I sat on it and then "of course" it finally hit. I probably lost out on a few grand by waiting, but I'm finally in now (wish it was available on RH).
When you say 10 grand, I assume you meant it went up that much, but you held it all? That is the biggest issue I have is trying to figure out when to take a small to decent gain as income, or to HODL...I am doing more DCA now and and planning to HODL.
Sounds complex...I'm sure it works well but I'm just not that advanced yet since I'm late to the game. I don't use Binance, heard a lot of complaints about them but their coin sure seems to be popular. Thanks for sharing, I'm sure myself of others will ping you for questions at some point.
BTW, glad you are on the board...how did you wind up here from Minnesota?
I live in Minnesota, but work with an OK company, well my division is based in OKC. The wife and I are considering moving to the OKC area and I like to shoot, so I joined this board a couple years ago. Minor FYI, Binance.US is not really the same as Binance and all of the news about the company is about the Global company, not the US subsidiary.
Okay, well if you get serious, let us know so we can be sure you don't wind up in the hood LOL. I'd suggest looking at East Edmond, Yukon, Mustang or Norman areas. Norman is particularly nice if you get the right neighborhood and you are close to a decent lake and public hunting land.
I am aware of the binance difference. I have read a lot of people use VPN's for exchanges outside the US but I'm not willing to break any laws. IS SHIB even on binance.us?
SHIB is on Binance.us. Really volatile coins like this work well with the bot strategy. I will be down visiting Yukon and Mustang in 3 weeks.
Yes, it went up that much. No, I haven't sold any. Everything I put into crypto I just assume is a loss. I won't sell until it's at a more life-changing level. I own maybe 5-6 different cryptos but I have a decent amount of SHIB and a fairly obscene amount of Safemoon. Those two are more lottery ticket type buys.
