Trading with BCH. My strategy

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Written by
2 years ago
In community: Just Write(e5e5)
Topics: Real-life experience, Trading, BCH, Emotion

March 21, 2022. No. 192

Who said it would be easy? Absolutely no one, but at least I tried.

Emotions have to be controlled to the maximum and forget that there is a way to lose:

- I simply need to keep in mind that, if I sell mine BCH for USDT, since I have USDT guaranteed in your wallet, it does not matter if the price goes up even more. I have to wait for it to drop more than the value I sold, so I can buy more BCH when I go back in.

- In the opposite case, if I buy BCH and the price drops, then I have to wait patiently for the price to recover. Think I have BCH for the future. It will eventually go up.

Following this technique, for a little experienced like me, means never losing, since I don't sell when I'm losing. They are just profit.

This happened to me a few weeks ago. I had been trading on Kucoin, an Exchange that I love. Since I started with 1.99 BCH, I managed to increase my capital in just 30 hours to 2,116 BCH. A nice raise for such a short time. But that's when I bought BCH at the price of $323 USDT, getting rid of USDT. This price would not touch it again until yesterday.

Image from Kucoin - BCH/USDT

The price crashed and even went as high as $270, but I stood my ground and didn't sell them as the price fell lower every day.

The day finally arrived and with the recovery of the BTC, the BCH also began its ascent. It touched $323 again, it even went up a bit more, but it was still in that range between $316 and $326. It neither increased nor decreased.

Magically when I sold my BCH for USDT at the same price of $323, the price made a huge upward slope, reaching up to $332. Looks like he was waiting for me to get rid of my BCH. But I'm not in a hurry, I have my USDT guaranteed and I'm waiting for it to make a small pullback to re-enter, taking into account the strategy that I outlined above. Wait and be patient.

Image from Kucoin - BCH/USDT

Generally fear and despair make you make bad decisions. It is like the game of cat and mouse, and also of whales. They want you to take the bait so that at that moment you lose your money. If I tell you that I had a buy order at $330 and I remove it, you won't believe me. This is how the crypto world works. If you let your emotions rule you, you will end up losing a lot of money on every trade you make.

To trade, in my opinion, you have to be the smartest in the room and have humility. Especially if you are a novice and beginner like I am. Doing the most basic trading there is.

See you tomorrow guys.

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Avatar for Infinity
Written by
2 years ago
In community: Just Write(e5e5)
Topics: Real-life experience, Trading, BCH, Emotion

Comments

I also didn't care when I bought BCH on kinda top because I know it will go higher in the next coming weeks or months probably year. I am comfortable with it.

By the way, how much is the fee in KuCoin when trading?

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User's avatar Laurenceuuu
2 years ago

Patience is always profitable virtue :)

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User's avatar borgminer
2 years ago

That´s the key!

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User's avatar Infinity
2 years ago

I believe, you need patience when it comes to trading. Aside from that is a strong resolve. If in a small movement of it's price you panic then you already loss. That's why invest only to the coin that you think has a great future. I only trade using BCH by the way ehee

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User's avatar Ruffa
2 years ago

"If in a small movement of it's price you panic then you already loss" Ahah, happens sometimes

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User's avatar Infinity
2 years ago

Hahaha, same but now I have trust with my BCH that's why no to panicking lol

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User's avatar Ruffa
2 years ago

sometimes many people are impatient and always want to be fast to get results, emotions often overwhelm the mind so that there is no patience in oneself resulting in assets not developing and only losing. your way is very good friend but the nature of people is different so patience cannot be had.

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User's avatar greenbaddz
2 years ago

waiting... Just wait until the price goes wherever you want.

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User's avatar Infinity
2 years ago

That's what I do also hahah I don't know much of the trading like professionals do but small gain still counts, be careful and Godbless!

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User's avatar Shyryl
2 years ago

Thank you :)

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User's avatar Infinity
2 years ago

I only trade in stormgain, the free $10 and i gained also but not that big but almtleast I tried

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User's avatar Adrielle1214
2 years ago

Indeed, at least you tried :)

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User's avatar Infinity
2 years ago

Fear and doubts are not found in the vocabulary of trading business. We really take risk when we do that. But as of today, I am afraid to take risk since I was not able to enjoy yet my savings here.

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User's avatar Hanhan.430cas
2 years ago

is hearth breaking...

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User's avatar Infinity
2 years ago

That's a huge profit already.. Trading need patience hehe...I also did bch/flesusdt in btcoin dot com but now the coin was not availablle anymore.

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User's avatar Jher0122
2 years ago

patience, that's the key. Let´s see what happen

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User's avatar Infinity
2 years ago

I m Also holding 0.2 BCH and waiting for good time to sell because currently I am in loss you Its better for me to hold rather selling in loss, luck also put impact while trading if one lucky He can make good profit by taking conscious steps !

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User's avatar Shani59
2 years ago

Never buy high and sell low. Never

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User's avatar Infinity
2 years ago

But I don't see you as beginners, you look pro when it comes on trading and other crypto ideas

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User's avatar Probinsyana
2 years ago

I have ideas, but sometimes are wrong :(

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User's avatar Infinity
2 years ago

Nice, I do it back in Bitcoin.com.. although fees is higher in there haha but I don't mind as I wanted to grow sats so when BCH skyrockets I have more of it.

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User's avatar Eybyoung
2 years ago

waiting now for the price goes lower than $323 ahah

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User's avatar Infinity
2 years ago

You seem like a pro in trading hehe

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User's avatar Jane
2 years ago

yeah, I wish ahah

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User's avatar Infinity
2 years ago
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