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January 22, 2019, 02:25:52 PM |
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A lot of people; when asked have no idea what this means. Again a lot of people who invested in Bitcoin in December 2017 and January 2018, this post may be for you if you are stuck with a portfolio sunk lower than the Titanic right now.
The method is relatively simple if I am being perfectly honest if it requires 'guts' on your part; you cannot have the passion shared by myself or others in this forum.
Step 1)
Look at your portfolio and re-do any research AGAIN on every single coin you are stuck with. Only do this for coins that have a genuine real-use case, a good team, partnerships and an actual proven product.
Step 2)
Get the pen out, with paper; don't draw on your wall. Work out how much money you can put into X coin and how many X coins you will get back.
Sum: Amount Divide Price = Amount.
Step 3)
Buy coins at the bottom! This will significantly bring your cost average down, allowing YOU to get back into profit quicker (if and when the market picks up)
Examples:
$500 into NEO at $157 = 3.18 NEO
$500 into NEO at $7.59 =65.87 NEO
To turn over profit you're looking at $17 per NEO for profit instead of $157.
$5000 into ETH at $1200 = 4.16 ETH
$2500 into ETH at $84 = 29.76 ETH.
Total of 33.92 ETH at profit it would be approx $221 to be back into profit.
More Advanced Method
If you did or able to sell your profits at the top into a stable currency against the fiat value of your asset, you only need to move that money back into the asset again at a lower position without releasing any more capital.
Using daily charts and moving averages to determine the trend, MA 100 and 200 are good on the longer time-frames; or use the moving average 20 on the daily, again a very good indicator for bearish trends.
I know this is brief but I do feel that this will help someone if there genuinely stuck in a massive loss.
Disclaimer: Don't be stupid, do not risk capital you do not have. Main one; do your own research.
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