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Classy13
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you think you're better than us ?? 🤣 $BTC
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How do I maximise profits when selling a coin? First of all let me tell you how, I minimise loses when I buy a coin and it's price value drops. I do one of these two things or both if my risk appetite and financial power allows it. 1. I use Dollar Cost Averaging tactic Buy coins at a fixed fee on regular intervals without caring much about price. For example; I could buy xrp coins worth $10 everyday. Scenario: Day 1: Purchase xrps worth of $10 at a price of $2.4 each. Which is 10 / 2.4 = 0,417 xrp Day 2: Purchase xrp worth of $10 at a price of $2.45 each. Which is 10 / 2.45 =0,0408 xrp Day 3: Purchase xrp worth of $10 at a price of $2.2 each. Which is 10 / 2.2 = 0,455 xrps That means I have bought a total of 0.417 + 0.0408 + 0.455 = 1.280 xrps at a price of a total price of $30 My average cost per xrp is 30 / 1.280 = $0,0234 2. I just hold the coin longer (usually a week to 3 weeks) until the price value goes up then I sell all coins. That is why I invest in the coins I trust such as $XRP , $SOL and $BNB Putting your investment in more than one coin is a recommended risk management strategy. You can't lose all your investment at once. You can also make profits from one of the coins today and make from other coins later instead of being on the pressure if you put all your eggs in one busket and the market goes against you. How do I maximise profits at the moment of selling? My trick is to sell a portion of the coins whenever the price increases. I can sell 30% of the coin at the current price then 30% at an increased price and %50 at a more increased price. How do I know the price changes? I set them in the Binance app. Steps: 1. Tap a coin pair from the market or trade tab, either of the two. 2. Tap Alert 3. Set alert type to when price increases to 4. I put the amount 5. Choose always and save. That's it for today Consider following me for more practical nuggets like this. Remember to follow and Repost.
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thxx #Binance
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