GXS-BTC Trading Idea. Let's hope for a double!

in #crypto5 years ago

The Little Old Lady(LOL) is a conservative investor and trader.


Always looking for cheap prices in crypto, she starts buying at the 0.618 Fibonacci level, 0.786, and at the 0.886 level. She never invests more than 5% in any one coin, expecting to lose the investment. Positions of 0.3% are not uncommon.

binance-gxsbtc-Jul-11-2020-20-15-0.png

The LOL also looks for an asset that has flattened out and is on the floor without a new bottom. This is preferable, but not mandatory. She looks for coins that that are forming a large W pattern on the chart.

GXS-BTC 's Chart is also a beautiful chart to look at. A bottom followed by another dip not lower than the previous. and even more, dips all higher lows. There is still lots of room for it to move.

The great thing about the LOL is that you can keep nibbling at the coin as it goes lower. You could consolidate the orders and work out an average. Or have separate orders, either way, works well.

If my buy in the price continued lower, the little old lady does not care. She always holds her positions and is willing to sit underwater for an extended amount of time. That's while she invests amounts she is willing to lose especially on small-cap shit coins. She has her sell orders and will react accordingly when she gets filled.

The LOL pulls up her Fibonacci retracement tool from the weekly bottom to the recent high. So she can buy in at her retracement levels.

binance-gxsbtc-Jul-11-2020-20-21-19.png

She calls her "broker" and places an order for an amount @ Ƀ 0.00005526 Satoshis at the 0.786 Fib level. She then places her order and forgets, getting her order filled when the market comes to her, she never chases a market because she knows she can get #rekt if she does. She got the order filled, then she placed her sell orders, and forgot, every time the coin doubles, half her holding will get sold. The first double was at At Ƀ 0.0001104 Sats. She sells half, and at Ƀ 0.0002208 Sats, she will sell half again!

If her position is still less than 5% she can pull up her fib from the bottom to the recent blow-off top. And reinvest what she sold at the 0.618 or 0.786 fib zones. Its alt season so she wants to get in earlier at the 618.

If the candle goes higher she has to keep adjusting the Fibonacci retracement tool higher as new highs are made and buy-in at the relevant levels.

The new buyback would be at the 618 and she sets the next orders for when it doubles again. The investment should never be more than 5% of her overall positions. But I hardly think it would retrace back it's a hella bullish coin.

binance-gxsbtc-Jul-11-2020-20-21-19.png

I have not really posted and idea without a double. I hope you guys appreciate it.

These are my recent orders related to this story. I use the crypto watch platform and API keys to trade on different exchanges. Trading is now free, so check em out!

This is not to be taken as investment advice! This is an investment strategy by @davincij15 at www.thedavincicodes.net And there are many more layers than discussed here.

Also @bbeamish at the rationalinvestor.com this is their strategy and you should get a course from them.

These are my ideas only. Chart: https://cryptowat.ch/charts/BINANCE:STRAT-BTC?period=1w
Trade on Binance one of my favorite exchanges: https://www.binance.com/en/register?ref=12386773
Also try out Bittrex another awesome exchange that is reliable: https://bittrex.com/Account/Register?referralCode=MSY-53V-EB2

Learning from the Little Old Lady(LOL) would benefit anyone immensely, crypto is very volatile and people tend to not take any profits on the way up and riding down all those precious gains. The most important idea to take from the LOL is that she takes profits every double.

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