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.
The LOL also looks for an asset that has flattened out and is on the floor preferably 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.
REQ-BTC is another great example of a good market structure. Some will say it looks a U bottom. We call a very big W.
LOL pulls up her Fibonacci retracement tool from the weekly bottom to the recent high. So she can buy in at her retracement levels.
She calls her "broker" and places an order for an amount @ Ƀ 0.00000127 Satoshis at the 0.718 Fib level she places her order and forgets, getting her order filled when the market came to her, she never chases a market because she knows she gets #rekt when 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 0.00000270 Sats. She sold half, and at Ƀ 0.00000520 Sats she sold 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. Even if you get a 2nd double and you still have not gotten a fill on the 1st buyback. You consolidate those 2 orders and places them at the relevant 618 fib levels.
The new buyback @ the 618 levels @ 0.00000281 satoshi's and if we get filled she sets the next sell orders when it doubles again. The investment should never be more than 5% of her overall positions. You can see her green dot on the y-axis signals the buy order ready to get filled.
These are the past orders that are relevant for this post:
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:REQ-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.
that was a very interesting style of writing, FIB levels are excellent to find solid support and resistance levels
The golden ration. Sure is!