Trading your Hive tokens, the best time to buy or sell and what happens in between
Hello Hive
This may seem like the most simplest of things to do, buy the dip and sell the high like they most often said.
But when putting this to practise some careful evaluations need to be made before one can trade successfully if it is the ones associated with day trading or monthly gambling to hit some gains.
If your crypto earnings are exclusively for trading and no other form of withdrawal is done, it is easy to wait for the turn of tide between the two crypto seasons, the bull and bear market regardless of the times in between, buying when it is lowest (just as we have it now and still trading down in low price) and selling when it is at its peak,very easy.
But outside of this, trading in between the two seasons mostly comes with taking risk, for those day trading and selling at the slightest crypto price move.
You may have sold hive when we had it at $0.6 just a month back to catch up with some small profits and buying it back at half the price now can give anyone some good gains. There was a bit of significant difference in between these two month, Feb and March, the current month we are in.
I was hoping that it could travel all the way up to $1 at least even after I got a good suggestions to sell if I had any urgent needs(Hive tokens have been very supportive with meeting up with some of our financial needs in this season, nevertheless its good that we are still able to power up, invest in the future and supporting the blockchain) but here we are again heading down the drain.
For very good purpose I love to keep some hive savings and these small price actions do not move me to sell even the tiniest bit of hive, but somehow I get caught in between when I have some emergency needs like that of today and opening the hive chat to see a price of the recent amount.
A better idea is to sell one tiny bit when the price is a bit favourable and keep them in stable coins.
That means, its a good idea to have a long term savings goal and probably some bits that can stand to fill in the gap for some emergency need.
This might work best for me but definitely not a financial advice for anyone.
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This hive price has been playing with my emotion recently 😄😄
I have some hbd that I can use to buy now then take profit later when the price goes high... unfortunately I have some pending bills which I am waiting for a particular number of hbd before selling...now I don't know what to do
Weda to use the hbd and buy hive now expecting a miracle in one week time when I will be needing the money or respect myself and leave the hbd that way, then sell it when I accumulate the number I am waiting for..
I am not always lucky during the dip
There is always reasons not for me to take advantage of it
It hurts anyways but it's fine
At least I can settle some bills no matter the price..
Exactly my dilemma, when you want to sell, its not favorable.
When it is favorable, you don't want to sell thinking it will go beyond that. 🤓😂
Buy low and sell high is only easy in theory. In practical terms, it's not that easy to determine the high or the low. I occasionally trade in between just for the "thrill" of it.
Perfect, I like your perspective 👌
There is no ideal low or high. It is a comparison of present trend. I heard price of hive once went down to $0.2 and hike was at $4.If we want hive to reach that point again,we all just need to buy only whenever possible.It is okay to withdraw at difficult times to met personal expenses but we should always keep half the holding invested and half saved.
That's true, I like the term "Ideal high or low"...
We just do the needful when necessary...
Thanks for the contribution. 👌
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I don't think there's ever a good time to sell or not sell.. Just go with your guts.
And its always best you take your mind off of it when you sell in other to avoid hating yourself for selling when the price suddenly goes up 😂
I guess what I'm trying to say is that, if you really need the cash, then go for it.. If you don't, then don't sell.