Yea, it’s just motivation. I could actually take it out of the tracker to simplify the whole thing… thanks for clarifying bmarx!
Yes, buy the BNB coin… I keep like 25 on tap at all times… then when you conduct your trade… say the fee was $10… and normally they would charge you $10 worth of BTC… but instead the will charge you $5 of BNB Coin… 50% off.
Awesome, I appreciate you taking the time to help me out…thank you!
Anytime brother, I learned a lot from the Dodgelord Peter, still a long way to go… but it’s the least I can do!
Since ICX is going to dramatically outpace BTC I don’t see why you would bother. If you want BTC then trade in the ICX in like a year and a half.
ICX can go up massively at only $5 still. BTC is already absurdly expensive and people are starting to realize that. It’s losing market share pretty quickly.
Agreed… thing is I trade in BTC, I need to have a good amount on hand to be able to buy dips. I don’t exclusively swing ICX to increase shares. A little too wonky to have to sell ICX to buy other dips… plus, if I get to the $100,000 mark, I want to be able to leave 10K positions on all the dips on my favorite coins overnight., Set it and forget it.
i.e. 5 x 10,000 positions looking for 2 - 5% gains overnight—something like that. But yeah, definitely get your point… that’s what I tell my friends who are trying to get in to BTC… that ship has sailed… we may get a double up this year or more… but ICX can definitely quadruple.
Would love to see ICX quadruple. I recently got started after having issues on coinbase, but I finally found an alternate btc buying method which got me started with like $600, dumped it all into ICX at $4.24. I did get curious with the swing trading method, but as of right now I haven’t attempted it. Might just try using a DCA weekly on the ICX and delve into swing trading on some other coins in the future once I learn a little more.
I was lucky enough to get some in @ 1.75. My Coinbase wire transfer took forever, so the rest of my money to buy ICX didn’t arrive until it was already around 3.75ish. My theory is that, I don’t have to be married to any particular coin. This decreases the variance.
For example; today—when ripple went haywire, I made well around $500 profit just buying in and selling off. The volume was insane, it was a sure bet. (After 8PM, so it’ll be on tomorrow’s excel). Now, I profited from the spike, but I didn’t have to hold it, and lock my money up for months to get those gains. I literally held it for 10 - 20 minutes at a time. In theory, to get those 80% gains from ripple, you would have to held it for 80 days, and there’s still no guarantee that it spikes like it did today.
Basically, my assertion is that the swing itself will net you far more exponential gains vs. Hodling, if you are able to get an aprox. 1% return on your entire investment each day.
Also, keep in mind, you would still be profiting by holding positions on top of the swings.
But who the hell knows, I’m gonna roll with it and see what happens by the end of 90 days!
It’s fascinating, but I am still not convinced that swing trading will net you more gains. Holding coins through last year would have netted you 3000% in many cases. That’s way more than 1% per day. You would miss out on those holding gains if you are going in and out of positions all the time.
I don’t know that the crypto-markets are solved yet… it’s still the wild west. In poker when faced against crazy opponents, I tend to move away from a game theory optimal approach and find exploitative techniques to extract money from the fish. I think this is what I’m attempting to do. It definitely won’t work for everyone…
I’m maintaining a snapshot of my profile as if I HODLed only… and running this for 90 days. I’ll juxtapose the two at the end, we’ll see which one comes out on top.
Again, this is likely not for everyone, but I’m willing to give it a whirl.
Not necessarily true. I have a large position in ICX. I swing trade ICX to gain more BTC to further purchase more ICX and other alts without having to buy with more fiat.
I love how I talk in circles, and you explain it so simply… man, my job has made me so dense lol! Thanks again bmarx!
If your net gains from trading are 1% a day, vs 8% from holding, how are you making more money?
Your’e netting 8% gains on your entire holdings each day? Also, even if you don’t want to do the math. If you only swing trade ICX. You will end up with more ICX, than if you just hold ICX. i.e. I started with 5000 ICX, now I have 5900ish, and I have not added a penny. You would still only have 5000 ICX if you still hold.
I have 32,000 ICX and no more available fiat. I swing trade with my 32,000 with the goal of always having 32,000 and GAINING additional BTC. I gain .1 BTC/week and turn that into more ICX and other bags.
I have 32,000 and just hodl.
What’s gaining me more?
That’s too much ICX for one man to hold bro… lol, Your’e the dood busting those sell walls!
I’ve helped a time or two. Lol
I don’t know that, because I only just started. But if you had hodled the top 10 coins in 2017 you would have netted at least that on average. There’s a thread on this.
I’m not cashing in to fiat… I’m also holding my positions… I 'm just adding to them, does that make sense?
No, the math doesn’t make sense to me. I guess we will only know for sure when the 90 days are up and you compare it to your hodling snapshot.