Classy13
Open Trade
Frequent Trader
4.2 Months
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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.
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.
daily crypto traders life
Is it only happening with me or all of us?
I don't know if most of You can Understand the meaning of this picture
The More Coins produce the less value of Crypto
The More Coins produce the less value of Crypto
i am not a expect financial advicer
do your own research
do your own research
I think it's the right time to BUY $SOL
BUY NOW or cry later
BUY NOW or cry later
who said that ??
true ???
how much profit do you earn tell in comments
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