Friends think that I might be some sort of trading guru now because I know how to make an account on Bittrex. Is cool, they don't read this blog so this is between us but...no, i am not, I suck. I suck hugely!
But maybe....
So my friend came at me with a quandary. What should he do with his XRP?
Oh boy, do I hate Ripple, trash it, sell it, forget about it! What else can one do with XRP?!
But many voiced their very strong opinions that XRP is great for trading and I should not discount it so easily
Yeah, well.....ok :)
So I checked the graph and drew some lines and bla bla bla while my friend described the issue. He bought HIGH.
Yeah, all too common, nothing to see here.
What should he do now? Sell and take the loss? Wait it out?
Let's take a look at the graph:
So yeah, this went downhill :)
But I see a good opportunity here to do something cool. Like let's say you got 1000 XRP at 0.27$. Now it's about 18 cents. It was right around the China thing so it was going down fast. What a great opportunity to buy more, as you can see in the graph, it tend to get back to 20-22 cents. I mean, the fancy people call it support, I think of it as "this is where people think it should be because reasons".
What happens if we buy 1000 XRP at 0.18 cents? All of a sudden is like we bought 2000 XRP at 0.225 cents. Awesome, now we don't need it to pump like crazy, only to get back to a more normal level to get out of this shittrade.
Can we do better? Sure, we can hope it goes to 17-16 cents and get more again. Let's say it get to 16 cents, this is a golden opportunity and we should maybe buy 1000-1500 at 16 cents. Then what? It's like we bought 3500 at 0.195 cents!!
Awesome, all we need to do now is wait for it to get back and byeeee.
Let's see what would have happened if we did that. This is the graph of the next 5 days after our talk:
BEAUTIFUL!
It went not only to 16 cents but even lower. We could have gotten even a bit more there but oh well. The beauty is that it went to 0.2 cents at one point. You sell there. Sure, no profit but at least you are not 70$ down.
Of course, nobody listens so my friend still has his XRPs :)
There's always a next time, amIright?!
I use the same strategy holding and buying at down points, it's a catapult
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it can also lead to..you know...losing it all?
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Very good strategy to recover the invested amount at the top.
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or lost more:P
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@razvanelulmarin xrp will grow up , is loved by the banks you'll see . ( ma bucur ca mai vad si romani pe aici , facem un followe reciproc , tinem legatura ) . Ce parere ai de steem ca pret pe viitor ?
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i heard that all the time :D
i hate it though.
steem is unguessable :D
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Im not a fan of Ripple either, despite seeing a good ROI from buying a bit a year or so ago.
I will hodl a small amount, just in case it moons, but there are plenty of better coins out there!
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Genius! From Steemit's biggest 'crypto-dummie' to God's ears! Nice work man -
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