I know there is really no way of knowing how high FTC might pump, but what is your expected target if you are placing some sell bids so you don't miss the rise?
silly idea for 2 reasons.
1) means leaving coins on an exchange
2) everyone putting sell orders up reduces the chance someone would even try to pump it.
Valid points but I also don't want to miss the pumps that can happen before you know it and you can't move your coins to an exchange to sell.
So for me I store alt coins I don't intend to hold, but flip on exchanges
. Yeah it is risky, but I don't have the time or access to altcoin wallets 24/7.
It's right, but then, what is your solution for "not missing the rise"?
I set a sell price I think is within the realm of possibilities, and some previously reached highs. Then if it hasn't happened too fast I will be able to log on and follow the market to see if its got anymore up left in it or if I would rather dump and take the profit.
I could still miss out on some profit but you can't be perfect, right?
Your logic is right, but sometimes the rise happens extremely fast, and you miss out if you don't put a sell order. I remember I had some nxt, and it was around 2200 satoshi. It suddenly pumped to 3500 one day in 2016 and I missed because it happened too fast. I still have that nxt and it's around 600 satoshi now!
Until now, I've managed to resist the urge to put sell orders, but sometimes I think I've lost and I should have!
This doesn't happen frequently and most of the 2016 topic alts had multiple pumps, but this subject is a difficult one and I never figured out a straightforward solution!