Is it getting frosty?
HIVE is down over 50% from the hard peak a week and a half ago, which means it has lost almost all the ground made on it since it over the last six weeks. I have been trading a little through that time, but there are some dangers involved with what was a "set and forget" approach.
I am pretty much always in the market to buy some HIVE and since I wasn't expecting such large spikes, I had set my sells up ages ago around 30-40% above my buys. This means that on November 12th when it spiked up to 0.35, my sells triggered at about 0.26 on average. Oops. Still gains of course based on the buy price.
btw, I finally realised how to see my buy/sell points on Binance... 6 years...
But as you can see, my sell average went up significantly on the last spikes a week and a half ago, as while I didn't meet the peak, my highest sell was in the 0.42s. I started buying back too soon of course, as I normally do, but I have been holding off and resetting my buy points to try and catch the falling knife, though a couple triggered while I was sleeping. I should always remind myself....
Never sleep.
We must accept finite disappointment, but never lose infinite hope.
Martin Luther King, Jr.
And I am hopeful.
Normally, I wouldn't be "wanting" HIVE to go lower, but if there is a nice long red candle right about now, I wouldn't mind picking up what I sold plus some more at around 40% of my sell prices. And since buying back, I would be able to turn 100 into 180ish, for an 80% gain in token volume. The problem is that I am getting antsy, and not sure if I should keep on waiting in the hop for a deeper bottom, or pull the trigger now and take a lower volume gain.
Itchy trigger finger.
Perhaps, I should cross them to keep from firing.
But, considering the dip, the volume is quite low at the moment. People seem to be holding and the price falls are on minimal sells. I feel like there is still more downward pressure on the way, so I will Do my best to be patient and hold on a little longer. Just a little.
There is a lot of volatility in the markets at the moment for a number of reasons, but I think that January will see some upward moment, based on Trump moving into the Whitehouse again. Then, the expectation is summerish 2025, right? Though, expectations don't tend to get met in the markets too often, because when everyone is expecting, those with the volume potential will do the unexpected and force everyone to follow. It is all a game of cat and mouse, the trading smart, and the idiots like me.
It is good to keep these movements in perspective though, and zoom out from the day to day, the hourly and minute charts, and see where it lays in terms of history. Is $3.4 HIVE possible again? Of course. Is it likely? Well, that is another question entirely. However, we are just over three years out from that peak, and four years is the generally accepted cycle, so who knows.
What I know is that if I am able to increase my HIVE volume over the next few months and it does move up into those kinds of values, then I will be able to finally fulfil my promise to my wife, and ensure that she and our daughter are financially taken care of for the long-term. That would be a weight off my mind.
Maybe then, I could sleep without FOMO.
Taraz
[ Gen1: Hive ]
Posted Using InLeo Alpha
The agony is real lol. What relief it would bring to know your family was all set, not to mention the stress removed from your own shoulders. It can happen...and it will!!
I am "betting" on it happening, because there isn't much alternative otherwise! :D
lol that's the spirit...keep that positivity flowing lol
Trading is not for faint of heart, much like you if timing is out you stand to lose. Then we dwell on how to reclaim, it's a crazy game looking at geopolitical matters and economics around the world.
Yep. There are opportunities all the time, but most are hard to catch. If I remember correctly, you made some decent decisions in 2020 as Corona hit?
Looking at the world from where are are one has a golden opportunity of seeing both sides of the coin, sometimes it is blatant with reaction from main media to simply do the opposite.
Zcash and Tari two I am currently researching via Riccardo Spagni, crypto with KYC is not privacy! Was interested years ago with Monero when it first launched then tabled it for unknown reason, perhaps time to pick up on that line once again. After what happened to Charlie Schrem I took a massive step back to rethink.
Trading is scary. When Hive climbed up I had no liquid Hive to change to HBD. Now I have some Hive but price is bad so I am not willing to change at the moment. Fucking story of my life. Maybe the next time it will stay up longer...
Always keep a little liquid of each, that way you can at least play the trade game and feel some gains.
This is why I try to avoid the swing trading or whatever they call it. I understand that if you do it right you can make a lot of gains, but I also feel like there is so much room for error that it is better to play it safe. I'll likely wait to see what happens in 2025. If we get a big spike over $1 I will sell and then wait for the next bear market to come and slowly buy back in.
You are doing what I do too - I am not playing with massive amounts here, but I like to be part of the game of it too.
It is time to convert some HBD to HIVE for me.
Probably a good idea :)
In order not to be caught up in FUD and FOMO in financial markets, you have to be a robot. Trading in stock markets is against human nature. Therefore, you should avoid the trading screen as much as possible. You should buy when the market is down and sell when the market is up. It is actually very simple but difficult to implement.
Most of the trades on the exchanges are by bots I assume!
Reading this, it is better to remain confident in a bullish momentum that will revalue the currency.
Sometimes I feel like I know so little about this...
Thank you, @tarazkp
I know far too little, but hey, it is fun to learn. :)
I sold HIVE at $0.36 earlier this year and bought HBD. HBD is staked and my HIVE sale price is approaching $0.42. I'm thinking of buying HIVE at $0.05 in a bear market. But I do not rule out a deeper drop in the price of HIVE.
now that is a scary thought. And here I am hoping that we are at bottom of bear market now and that the price will never go below 0.20... Sure it would be nice opportunity to buy more Hive but it would still be scary.
I would also like to believe that 6000 SP points is the bottom of the bear market. But it is obvious that we are now in a bull market.
I don't see how Hive is in a bull market right now. We have been stuck around that damn 0.20 for a fairly long time. It climbed a bit for a day or two and now is close to 0.20 again...I would only consider this a bull market if Hive would be worth dollar+ and stayed that way for a at least a few weeks.
.05 is pretty low. Maybe one day, but I hope not :)
Thanks for the trading advice and I really like the Martin Luther King quote.
Good to hear!
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The volatility has allowed me to alternate between Hive and HBD to reap some quick gains.. So far so good. Fingers crossed! Hehe!