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RE: LiteCoin (LTC): What Do You Get with a Bullish Wedge & a Bull Flag?
Thanks for the TA on LiteCoin. I was looking at this today and honestly felt a little bit lost with my current abilities. Whenever there is too much green in a chart, I start looking at the oscillators - things like Stochastic RSI - expecting to see a clear "overbought" indicator. But, we are not quite in that territory just yet. So, short term, there still looks like a little bit more upside momentum. But, what I see as "a little bit," could end up being another 10 -20% profit. Having a large short position in LTC, I'm watching this one closely. So, thanks for your thoughts.
I never short Crypto’s.
I agree that shorting crptos is easier said than done. I try to make staggered entries and exits at various levels of support and resistance. I tend to only exit crypto positions when I've reached past a 10 - 30% profit and it's still going up (I believe it is very important not to allow "greed" to take hold - it does cloud a traders' judgement). Selling into uptrends and buying dips is very counter-intuitive, but it's awesome once you get the hang of it. I take profits when something reaches its' next resistance level, or confirmation of a trend reversal, and then I look for the next undervalued alt-coin to move into. Sometimes there's nothing better to move into, so I just go to cash and wait for another good entry point.
My strategy is one of taking profits from cryptos to increase my longer position in physical gold and silver, while precious metals prices are sill rock bottom. It's a very "safe" and more long-term investment, very much on the more conservative side of the markets.
On the extreme other end of the market we have cryptos. I love crytpos, but I prefer to hold, "The Real Thing." Right now, crytpos are a physical gold and silver generator for me. Before crypto achieves major adoption levels, I believe there will be a period of major FUD and regulation in the U.S., where I live. Once the regulation is more in place, and big money feels safer investing in the space, I think the dollar will be done, if it isn't beforehand. In that case, gold and silver should do well, and crytpos should moon - which is more the time for HODLing, IMHO.
I am trading both extreme sides of the markets in an effort to decide, ahead of time, to sacrifice about 1/2 of my initial investments in order to receive 1/2 of a spectacular return - which, in my case, will still be spectacular. And, hopefully there could even be some upside on both sides of the "safe" and the "very risky" sides of my strategy. IDK how well it will all work out in the end, but I like to hedge. It means somewhat smaller end profits, but I will be assuming much less risk. If you are familiar with the "Barbell Technique" when it comes to managing risk, this is what I am trying to accomplish. Basically, it more than doubles my chances of "getting lucky," which is actually a combination of hard work and good luck.
I bought my first gold coin and some more Silver Eagles last week. I've made very good progress in achieving my goal of 1,000 oz. of silver (mixed in with some gold). Once that position is "filled," or precious metal prices rise too much, then I will focus more on building a longer crypto portfolio.
If it's true that BTC is going to eventually go to over $100K each, there is still plenty of time to enter longer positions in cryptos. And, we're still early enough in the wealth cycle that even my modest crypto portfolio should serve me well enough. In the meantime, I'm learning all I can about trading cryptos.
And, the bernie@$$holes once again have successfully protected the integrity of the SteemIt platform by destroying another Minnow!!! Well, they can go suck a big, smelly, rotten, used dildo.
A bunch of whales give my 100SP account another big downvote for engaging in an appropriate interaction on the SteemIt blockchain. It should be no surprise that I choose not to invest any more than 100SP in the SteemIt platform, or promote it to spread any further. Why would I tie up any serious money in an asset that will be subject to being governed by a bunch of internet trolls who are self-styled "anarchists," which promptly hand over control of their money for at least a period of 13 weeks? ME? In 13 seconds, I go to my safe, and BAM! Instant, truly decentralized, real, physical money - in my pocket, ready to go drop wherever I choose to. Stupid Steemians can lick my bungholio!!!
But, here's a challenge for you guys: give my physical stack of gold and silver, in my safe, at home, the biggest downvote that you possibly can! I will open up my safe, check it tommorrow morning, and let you know if my stack weighs any less. HA, HA!!! :P
#steemsilvergold bitches!!!