Well, that was unexpected.
For me at least.
A couple of days ago I wrote an article about some of my trading moves, and I was mostly patient in waiting for a bigger dip, that didn't come. Which meant that my buys didn't trigger, with my lowest just missing out. However, I did FOMO as it bounced and bought about 7000 HIVE back at around 0.23. But... I wasn't expecting such an aggressive spike before the pullback, especially going against the market trend, so I had my sells set in the mid- 0.29s. Which of course got blown past last night and today, peaking over 0.4. This turned a potential 75% gain, into a far more modest 28% gain. Respectable, but it feels like a "loss" compared to the potential.
Realised
B: 7000 x 0.23 = $1610
S: 7000 x 0.295 = $2065
Gain: $455
Splitting the difference
B: 7000 x 0.23 = $1610
S: 7000 x 0.35 = $2450
Potential Gain: $840
And if sold at the top.
B: 7000 x 0.23 = $1610
S: 7000 x 0.40 = $2800
Potential Gain: $1190
It is a funny thing in trading though and it is probably very unhealthy, because even when there are gains, the focus is heavier on what was "lost" even though there was no actual loss in this trade at all. And, this is over the space of a couple days mind you, so getting 28% is not a bad effort. And, this is a larger volume trade than I am generally comfortable doing, so I should be pretty happy that it is positive for once, because normally, I would have bought, then it would have dipped for the next six months to four years, as I hold all the way down. However, as I have mentioned, with the current work situation as it is, I am trying to be bolder.
I have set my buys again.
But, depending on what the next couple days bring, I might lower them, because it could be that HIVE dips heavily and since I couldn't get close to the top this time, I will try to get closer to the bottom, to reduce my cost average. I am consistently buying HIVE, but inconsistently selling what I buy. I think that I should be more systematic though, and sell more frequently in smaller amounts, rather than just look for the large swings in price.
Don't do what I do.
I am also being a little more open with my poor quality trading methodology, because I think that I am probably pretty typical here on Hive, where I know something, but not that much. I am not a trader by heart or by mindset, but I try my hand and learn what I can along the way. There have been plenty of costly errors in judgement, but for the most part, the biggest cost is the unrealised potential. Had I made a few different choices along the way, I would have been far, far better off. Monumentally so.
Instead, I keep plodding along, bumbling through, trying to increase value, by increasing token stack so that perhaps one day, the percentages can be lower, but the volumes higher. Hopefully, many of you have been able to find a way to trade some HIVE and HBD on the internal market, if not out on the exchanges for some decent gains. Even if the trades are small, the potential to increase stake is high, but there is also some risk involved. For the most part though, a large spike will see a large retraction, so it is safe to sell into it and pick it up again a bit later. What I notice for many though perhaps is, they see the large spike as the potential to sell and spend, rather to reinvest into their future.
We all have our methods.
Where to from here?
Taraz
[ Gen1: Hive ]
Posted Using InLeo Alpha
I’ve been trying to find good APIs so that I can automate some buying, converting, and selling but I’m nervous without good documentation because there could be some extremely expensive mistakes 🤭
That said, I still think hive is worth $1 or more so I’m hopeful as it goes up in value more community comes back
I was just thinking about some automated buys/sells, but have no idea how to set those up.
HIVE is worth far more, if people actually realize what is happening here :)
I found swapspace.co has an API but I’m going to wait to see if @themarkymark has advice before I risk any transactions :)
I’ll share with you whatever I discover!
It is not possible to make perfect purchases and sales in financial markets. We need to forget the right/wrong transactions made in the past and focus on the future. There is always an opportunity. An opportunity may be presented right now.
There is less right and more wrong transactions perhaps :)
Good deal. I also wrote a post about my deal today, I hope I will also make money.
Would you like to put your profits in HBD into staking at 15%?
Not yet. I think there is some more volatility to take advantage of.
This morning I saw Hive price and rushed to change my ~770 Hive to HBD. I got a around 250 HBD(?) from it. Put 200 in savings and kept the rest. Now I just hope that tomorrow price will be nice as well...
I don't remember the last time the Hive price was jumping so much. Today I saw that it was above 0.400(?) and later close to 0.300. Now it is 0.362 again...
If the price drops significantly, you can buy more back :)
Unfortunately, it seems like all of these pumps happen when I am asleep, so I always miss them. I guess that is just even more reason why I need to just wait and not try to time the market.
The sleep issue is why I miss peaks and troughs, because I have to set and forget, and most happen when sleeping.
Just opened the binance market overview and saw %44 spike, wow! My plan was broken, I should have bought at $0.23!
I have a lot of buys around the 20 and lower mark - buy buying some at 23 was better than buying none this time.
This might be a Korean hike :)
I assume so
I am doing a little trade too, but not so much, only around 100 hive enought to get 10 or 20 hives per trade it is not much but all helps.
It all adds up!
You are trading Hive back into a USD stable like USDC or HBD to take these profits?
These last few months, when I want to lock in gains from Hive or SPS, I've been taking those profits directly into swap.BTC. It is my rainy day fund... what Aftersound likes to call his "ice cream money." At least I have finally made a commitment to save just a little bit of scraps instead of reinvesting every last cent into more cards and other game assets.
Have you ever sent swap.btc out to an external wallet ?, if so, did it go as planned and which wallet ?
I have not. For now I'm simply using it as a store of value. I do occasionally look at the swap.btc pool to make sure there is decent liquidity to perform a swap without making the price stray too far from the spot price in USD.
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STOPFunny thing I traded HIVE with a much smaller amounts, but also profitably and also missing out on the upside and in my case buying back into HBD too early also. I am happy that the result so far has been positive and I am going to switch back from HBD to HIVE if it drops significantly again.
You too? 😁
As long as you're increasing your stack with the same money, you're winning, no?
Still a solid play. It looks like the recent uptick on Hive was driven by some aggressive buyers, unless you are swimming in that pool, it's hard to forecast a swing up of that magnitude. Particularly in that it was moving against the rest of the market.
My usual thinking with my trades is buy/sell when happy. If I'm setting an order, I set it to a price I will be happy with. I wasn't able to get the top as well, but I did sell a few. I hope I can do better in the next spike.
You don't go broke taking a profit :-)
When it comes to trading, I personally feel it's almost impossible to time the best entry and exit prices. So as long as it's a profit and the buy and sell points are not too far off, I would give myself a pat on the back. Hehe!