350 Hive from a small SPS trade
Two days back I wrote an article on the trading opportunity we have on SPS. I also mentioned that it can be a risky trading opportunity but I personally had so much confidence in that. I'm glad to share that I was able to book a profit of 350 Hive from that trading.
I bought 2000 SPS for this quick trading opportunity and wanted to hold them till the pack sale to see if I can book some profits. To my surprise, the price of SPS already pumped and showed a decent price. I wanted to book profit partially. I know it can go even beyond that and some people even believe that SPS price would even hit 2$ in the near future or even before the CL pack sale. But all I wanted was to book some profits when I saw a 350 Hive increase from the price I purchased it. I booked the profit. I will now be happy to wait for the rest of the token to the moon and give me the opportunity to book profits.
I entered the market when the price of SPS was close to 0.8 Hive. I was even watching the market when the price was close to 0.7 Hive but I did not have that spark to purchase it when the price was less than that. But I'm glad that I at least purchased it at 0.8 and I wanted to book a profit if it crosses 1 Hive. To my surprise, it happened too soon and I placed a sell order at 1.15 Hive and went to bed yesterday. Today morning when I woke up, I saw that the order was filled already. Now, this is only 50% of what I bought and it already gave me 350 Hive. I'm going to be holding the remaining 1000 SPS tight and wait till the sale and sell if the price pumps even further.
I also have a thought to purchase it back if the price hits 0.8 or even 0.9 Hive again. I'm going to be placing a buy order again at 0.9 Hive today before going to bed. If it gets filled I would be happy again to sell it back above 1 Hive for a short profit or even hold it a little longer.
SPS opportunities for the future
I have some good vibrations on SPS because the Splinterlands team promised that there will be lots of opportunities based on SPS in the near future. One such thing that I anticipate is more use case and burning for the coin. They also mentioned that there will be a model similar to the witness modal where people can host the nodes of Splinterlands and get incentives from that. Maybe this is something that can increase the SPS distribution even further but people will come up with more innovations if that happens in the future.
Staking rewards are already very great and people are getting enough staking rewards for their stakes. I'm anticipating that people might invest even further before the CL pack sale to get the vouchers and those vouchers can also have a great sell value. This could be the best thing for SPS in the near future.
 |
 |
 |
 |
 |
 |
Posted Using LeoFinance Beta
Noice trade ;)
https://twitter.com/bala41288/status/1447636497763471360
The rewards earned on this comment will go directly to the person sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.
Nice trade, interestingly I did this too, I bought 100 pieces around 0.3 and sold at 0.76, ‘‘twas fun to see, I thought there would be a pull back to buy back at 0.6 levels but it ran up to 1$ in my face, I couldn’t complain lol. Now I’m waiting for a pull back, I’m trying to watch out for 0.7 zones again but it doesn’t seem to want to reach there at all. What do you think?
Posted Using LeoFinance Beta
Yeah, same thoughts, and Hive price is also not looking good. I'm trading with the Hive price because that gives two advantages where the price of Hive and SPS both are the criteria. A bit tricky to predict but let's hope for good.
I bought in a bunch when it was down around $0.20 it seemed way under valued and just watching trends from other games and markets I've seen how short sighted a majority of people are lol. It honestly was almost a sure bet at those levels. These higher ones right now though are much riskier.
Yeah, agree with you. People right now think that SPS has the potential to reach over 2$ and they even buy it at this price. 20 cents was definitely the best bet.
If you have a flair for trading there are great opportunities between SPS and DEC. But in my case, I simply am a bad trader, with too many emotions and too little technical analysis. Thus I am staking SPS like crazy, getting vouchers, buying Chaos Legion packs and HODL for a long.
Posted Using LeoFinance Beta
Most of the time my trades are also bad. I simply do only the trades that I'm confident with or the ones that are safe. So for example in the case of SPS, even if the price is not pumping, I always have the option to stake SPS and earn Vouchers.