I will admit to not being strong on technical analysis. I have a mentor working with me to improve, but honestly I don't day trade anymore. I haven't event opened my account in over a month. I think it is wise to consider what we are trading in the crypto economy not as currency alone but in 3 different categories.
Commodity (Gold Silver etc) - Bitcoin for example. Like gold it is a great store of wealth, but difficult and expensive to use in day to day transactions
Currency (AUD USD CHF JPY etc) - Litecoin for example I see more of a traditional currency, Easier, faster and less expensive to transfer through the economy)
Company stock - Encrypgen for example. I have invested in David and his team. By now I know you will have looked into it and you can see why I'm not buying a coin. I'm buying shares in a company. My question when I find a great company like Encrypgen is not when should I sell? It's how do I get on board? I'm not being paid for my journalism, nor am I being paid for driving his campaign on steemit. I would never have offered this to Voxels. The truth is I'm a bit of a "save the world, everybody love everybody optimist". I want to share something with you because you've really helped me. I sent David an email asking if a potential pharmaceutical company buy out was on the cards? David is obviously very busy so he keeps conversation short. But this is a direct quote from my email "We expect that shortly some compatible company will seek to partner or acquire, yes. We would be very careful about maintaining our vision, however."
I love this guy. He's not in it for the cash mate. And it's people like this who have the drive and desire to make companies succeed.
Anything I'm interested in is 2020 sort of stuff. Anyone who is looking to get rich over night will be killed by people like you and my mentor who just laugh as they pinch the pockets of the uneducated all day long. Me I'm more about long term strategy player. I don't invest any money I might need i the next 3 years. I don't withdrawal, I NEVER SELL AT A LOSS.
That's it. Not that hard in a growing economy. I believe research will destroy technical's long term, but you have both so you're going to do very well in this space. I don't follow people for the hell of it. I advise my followers to follow you because I think you bring them what I can't at times. I think occasionally you're getting a decent little tip from me too. Peace frother.
Yeah, I generally agree. I have no intentions of converting my crypto portfolio into fiat in the next few years. I am not a day trader by any means, and have a lot to learn in technical analysis. What I'm trying to do is combine charting with fundamentals. If I like a coin fundamentals, then I'll look at the charts and sometimes trade the charts. In the case for Factom, my trade worked out. Got out at 0.014, got back in 0.0125. It doesn't always work out though!