Topic: Question About Trading (Read 256 times)
I think it's more for how you feel the crypto movement- when the big pump (uptrend movement) is starting and how much will it last.
One of the essential rules in trading is planning trade before pushing the button.
ie I buy some coin, I plan an exit point which seems a good resistance area, and then sell it in this point with profit.
but it keeps rising again
then I buy again in higher price with another plan, and sell it again with profit.
but it keeps rising.
Am I doing right or wrong? If I don't sell I could make more profit, but this would be out of the plan, and profit with luck
I did this several time today with Neo, it keeps rising more and more. Where will this end?
Nobody knows where it will end. But in general, the higher it rises the larger the risk of the price retracing becomes. So you could always just calculate an exit price at which you sell a fraction of your total stash. The value of that fraction will depend on whether you want to cover your initial investment, take out a part of the profits or sell it all/keep it all.ie I buy some coin, I plan an exit point which seems a good resistance area, and then sell it in this point with profit.
but it keeps rising again
then I buy again in higher price with another plan, and sell it again with profit.but it keeps rising.
Am I doing right or wrong? If I don't sell I could make more profit, but this would be out of the plan, and profit with luck
I did this several time today with Neo, it keeps rising more and more. Where will this end?
It's also a good idea to buy in and sell out in smaller parts. So if you decide to take out half of your investment, do so in steps to even the average sales price out. That'll feather off sudden increases or drops in prices depending on whether you buy or sell.
One of the essential rules in trading is planning trade before pushing the button.
ie I buy some coin, I plan an exit point which seems a good resistance area, and then sell it in this point with profit.
but it keeps rising again then I buy again in higher price with another plan, and sell it again with profit.
but it keeps rising.
Am I doing right or wrong? If I don't sell I could make more profit, but this would be out of the plan, and profit with luck
I did this several time today with Neo, it keeps rising more and more. Where will this end?
ie I buy some coin, I plan an exit point which seems a good resistance area, and then sell it in this point with profit.
but it keeps rising again
then I buy again in higher price with another plan, and sell it again with profit.but it keeps rising.
Am I doing right or wrong? If I don't sell I could make more profit, but this would be out of the plan, and profit with luck
I did this several time today with Neo, it keeps rising more and more. Where will this end?
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