I wrote that I am testing out a way of stacking Hive by trading a very small amount in an earlier post.
There is something interesting today, so I should share it.
Noticed the brief spike in Hive price above?
Alright, no, I didn’t have a Sell Order at $0.59.
I had my sell order set at $0.55 instead. And that was activated when I wasn’t watching.
Of course, I was net positive on this trade, since my previous buy price was $0.51.
Can’t complain for this little take profit on this mini trading account.
My USDT is now at $48 from an initial investment of $35.6. In terms of Hive, I gained about 10 Hive (80 initially to 90) if I enter the trade again at the current price of $0.52. The period is May 12 to May 31, about half a month.
The gain is 12.5%. Not too shabby for a short period, and the effect of compounding cannot be ignored too.
Of course there were times when I was slightly worried that price won’t come down after selling at a high. But keeping in mind that this is just a small part of my portfolio quickly calm me down, because I will have more Hive to gain from the pump than lament about this drama in the small trading experiment.
Indeed, because USDT and Hive are both what I wanted, I am happy for my net gain in these even if my trading experiment had to end.
Besides, I can afford to wait too since I don’t need this money for urgent need, which means I will always only buy low and sell high. I don’t mind a small win, even.
In this bear market, parabolic run is quite improbable. Instead, choppy market is what we see. This strategy of gaining Hive through trading seems to work. Currently, I take reference from the Bollinger band (the red and green lines in the chart above, 4 hr chart) to set my buy and sell price. Simple enough for a noob like me, so I am not complaining.
Looks like I am ready for a buy trade soon.
P/S: this is not financial advice, please do your own research before investing.