I haven't been writing some longer stuff for some time.
Well, it is because there wasn't anything interesting related to crypto that is occupying my mind. My last post was on the state of Hive prices. @cryptothesis/hive-at-below-27-cents-ct6
Here I am going to share a small victory, as far as sticking to my cryptothesis is concerned.
Those of you who had followed me and read my earlier posts would know that I have a strategy of (1) storing up enough BTC, power up Hive, LEO and whatever I want, first, and (2) have another few bags of desirable assets that I will trade in between. Like sell Hive for BTC, LTC or HBD, and then switching them back by setting a sell/buy price to ensure that I always end up with more Hive, LTC, HBD or BTC over time.
From the above, you can probably tell that I am pretty invested in the few crypto assets.
Alongside these strategies, I have another account with a local crypto trading setup. There I have about $7500 invested. I was doing DCA on BTC a bit every day, but when I saw that I had a good $300 gain two weeks ago due to a sudden pump, I sold them all to take the gains.
What was on my mind? I already have enough of BTC, based on my target, in my cold wallet locked away, so the BTC in this account is inconsequential.
I sold them. And I got back cold hard cash.
Now, remember, cash or BTC, I don't mind any of these, in my situation.
So I was happily holding the original investment plus profits. Waiting for the a sudden dip.
Then the dip actually came two days ago, when it dip just before the FOMC.
I took all that is in the account, and bought back the BTC at a lower price.
So in effect, I gotten more BTC than when I started.
Yesterday, when there was a pump, I saw that I am making an extra $200 in profit. I didn't sell, else I would have made more USD yet again.
Well, you can call me lucky. But here I am using a strategy where I set myself up for wanting extra BTC and USD. I have this extra cash to play, thus I can enjoy this gain with this strategy.
I guess this is no magic. It is what trading is about.
This is even what the coffee traders would do. Stock up coffee, sell it at profit. When coffee price drop, buy again and wait.
Tha's all for my sharing of a small victory. Hopefully, it gives you some ideas.
And of course, this is not financial advice.