I enjoying trading/flipping between HBD and HIVE. I use the market in HIVE wallet to do that. I dont try and time the market, but instead set up my buy and sell orders in advance, with target gains, and sit back and wait.
I thought I'd write an update on activity for this past week as there have been lots of opportunity due to the volatility in the price of HIVE:HBD, and particularly due to a number of short peaks both in HIVE and HBD.
Credit: Hive to US Dollar chart taken from CoinMarketCap on 20/04/23 within an hour of posting
This weeks hive price chart is pretty interesting:
- The lows are down at about the $0.43 level
- There are 3 fantastic peaks that spike up to around $0.48. They are short lived, but if your orders are already set up and waiting then no problem,
- But we also have a nice general build up from the 14th to the 19th where there was a nice increase in price from $0.43 to nearly $0.47,
- And lastly, we then have a nice drop back from $0.47 to $0.43 again - if you have your trading pots set up right, with your orders set appropriately then there is no reason why you cant also take advantage of the dumps !
For me, that represented 5 distinct trading opportunities right there this week - and I managed to catch all 5, because my orders were set up waiting for it to happen.
Credit: HBD to US Dollar chart taken from CoinMarketCap on 20/04/23 within an hour of posting
This weeks HBD price chart was also pretty interesting:
- HBD wasnt often at peg, and varied around quite a bit particularly between $0.96 and $1.06,
- There was a very nice pump to $1.13 roughly in the middle of the week,
- And then there was a dump right at the end of the week.
So again this shows us some nice opportunity, and particularly the spike to $1.13 mid-week.
Credit: Hive to HBD chart taken from HiveHub.dev on 20/04/23 within an hour of posting
Then when you take that and put it all together in the HIVE:HBD chart you can see the affect on price:
- Generally the trading price ping-ponged around the $0.43 to $0.45 mark, but had a nice number of breakouts above $0.45 representing nice HIVE sell points (for HBD), which then settled down again back to close to $0.43 after each one, representing nice opportunities to buy back into HIVE (selling HBD),
- That may not sound like much, but if you bought HIVE at $0.43, and sold it at $0.45 thats a nice 4.5% profit. If you then managed to repeat that quite a few times during the week - that soon adds up.
In Summary
Not all weeks are like this. And I have to say I was pretty lucky to have my trades set up with the right prices to take advantage, so I did not too bad. I wont be buying the lambo this week, but might be able to afford a lambo key ring (do they even have keys ???) !
Anyway, I found the trading environment pretty interesting this week due to all the peaks we've had, and I thought it worth sharing !
Best of luck everyone - and I hope you all have a great weekend when it comes !
All the best from Scotland
Posted Using LeoFinance Beta
sometimes just having some liquid HBD might just be a good idea, because, during the time when it pumps, you can just trade it for Hive and can probably make a good percentage profit from it. its quite cool to do.
Aye - holding some liquid is the key.
Great work! Saw this lambo today and it was beautiful. Not only that, the sound of the engine was like music to your ears! lol
Lol - looking at this picture is about as close as I'm going to get to one !
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So you can set up buys and sells in the hive wallet, sounds interesting, I will have to check it out and maybe have a play around.
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Aye - its pretty easy to do actually
Can you give ignorant fools like me a hint?
I don't see anywhere in HIVE wallet to set price, only a direct swap with a 5% fee.
Hi, sorry for the slow reply. Try here:
You can set the price you want to sell or buy at https://wallet.hive.blog/market
I'll wait forever for a copy-trade dApp on Hive ahahah you are always doing great with these trades!
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@hoosie, I sent you an on behalf of @arc7icwolfI've just moving HBD into Hive. I plan on powering it all up at the first of the month in May. I wish I had the time to catch all of these timings right, but I just don't. What i have noticed is that while the price of HBD has gone up, so has the price of Hive, so it still ends up being a 1/40 ratio or so.
I moved all of my HBD into HVIE when it first fell last year. If the price of HIVE goes back above $1 at some point, then I'll move a lot of HIVE back into HBD.
That 5% fee though, wth?
There isnt a 5% fee - I'm not paying one
Thanks for sharing!
You are welcome !