The Myth of Buying the Bottom .:. #MyHiveGoals 2022

avatar

I was reading today a post by @gadrian, where he was writing about his Hive goals and he mentioned an interesting thing inside it... These were his words:

Then the market made a local bottom near 50 cents per HIVE this week.
Had I been more inspired, I would have bought more HIVE at those levels. But nope, I wasn't. Only a little bit more...

Just to clarify, he isn't an exception in this case... How many times did you plan to "buy the bottom" and didn't do it as you were constantly moving your "buy price"? I did it a lot of times... I'm doing it almost on a weekly basis... Even now when I KNOW that I shouldn't do it like that!

Just a few days ago, I told myself that I will exchange part of my ETH for BTC if the price goes over 0.08... ETH hit that price, but I moved it to 0.082... Luckily the second target hit also, so I did the exchange, but it happened a LOT OF TIMES that it didn't happen...


Buying the Bottom(1).jpg
Created in Canva.com

Buying a bottom is a dream... Or better said, it's an "unreal dream" or a fairy tale... You can do it, but the chances are very, very low that you buy the exact bottom... So, what can we do? We can create targets... Where we are comfortable "get in", where would we like to buy... And then, STICK to those targets...

You can go ALL IN if that's your thing, but I like to do "percentage buy orders"... For example, I would be comfortable buying HIVE at $0.50 and lower... I would create a couple of orders with different % of my investment resources... One order at $0.50, another at $0.45, another at $0.40, etc... Kind of DCA-ing (Dollar Cost Averaging) but just in one direction...


pg divider203.png

Let's get back to the #MyHiveGoals and numbers for the last week... My "buying the dip" HIVE price has passed a couple of months ago, so I will wait patiently for the next one... :) Luckily, I did buy a nice chunk of HIVE close to the bottom and I'm happy with my purchase... It would be nice if I bought more, but it didn't hit my next target... ;)


MyHiveGoals00.png
screenshot from hivestats.io

As the ORCA rank moved a bit higher than I expected, I switched gears and powered a bit more HIVE during the week... To be more exact, my Hive Power has grown by almost 400 HIVE more! Gotta catch the last wagon, if not, this goal will remain just a dream...


pg divider203.png

It's nice to see that my monthly LEO Power goal is already reached and we are still in the first part of September! I got some nice author rewards and a higher stake in LEO tokens brings more curation rewards... Plus delegation to @leo.voter... All in all, the accumulation of LEO Power goes as planned, and I can even exchange some tokens until the end of the month, to build up my HivePower faster!


pg divider203.png

Speaking of targets and buy orders, some of mine have been hit and filled... I bought a nice chunk of WORKERBEE tokens, so I could stake another 50 this week... The monthly goal isn't hit, but I need "only" 400 tokens more to reach my yearly goal... That's awesome!

I was talking about possible price changes of the BEE token, but it looks like neither of the two scenarios happened... The price stayed almost at the same level as a week ago, which isn't something that I expected... But, I don't complain... The best tokens are those that keep value and you are earning them... Who doesn't like that? 😃 My staked WORKERBEE tokens are mining BEE tokens, and I curate posts with staked BEE tokens... It is relatively slow growth, but it is a growth...


pg divider203.png

GAMING GOALS

This week, I didn't blend any cards, so I had that "ordinary" grow of the accumulated RISING STAR cards... I have added 102 new NFTs to my collection during the last 7 days... Speaking of the game, I'm thrilled that I will meet developers and some of the community members next week at HiveFest!

The last goal on the list is the Splinterlands SPS tokens goal... I will not write about all the new things that will be launched in the next weeks/month as I would need another 5 posts to do that... I suppose that most of you already know about the new card editions, new games, etc... All that should bring additional use cases (and value) to the SPS token... I didn't decide yet if I will invest some of my tokens into the new stuff, but I lean toward keeping my staked tokens for some time...

I am still unstaking some tokens and moving to the Diesel pools, but despite that, the number of staked SPS tokens still goes up... I will try to keep the number around 70K but will follow closely all new launches and the price action...

Maybe there will be an opportunity to SELL THE TOP... 😃

pg divider203.png

It's time to update the numbers and put them into the spreadsheet until the next week! So, freshly updated numbers for #MyHIVEGoals, on September 11th, 2022 are:

MyHiveGoals01.png

Join us in this awesome #MyHiveGoals and let's grow together! You can find the original post about the challenge by @robwillmann here.

Thank you for your time,

~ph~

pg divider203.png

The link to my initial 2022 Goals Edition is here...

These are my initial goals for 2022 created on January 2nd, 2022:

InitialGoals2022.png

Update 06.02.2022.
BEE POWER 2500 --> 3500
RISING STAR NFTs 5555 --> 6000
Update 04.09.2022.
HIVE POWER 54000 --> 55000 (ORCA rank minimum went up)


pg divider203.png

If you want to support my witness, you can do it by voting for @ph1102.ctp here https://tribaldex.com/witnesses, or just scan the QR code down below...

Guardians_Of_TheHiveEngine.png

Don't forget to follow, reblog, and browse my Hivepage to stay connected with all the great stuff!

You can also find me on LEO Finance .:. Twitter .:. LBRY

Posted Using LeoFinance Beta



0
0
0.000
39 comments
avatar

Actually, I wasn't trying to buy the bottom. I know that's a utopia. I only bought a little bit thinking the price would break lower and I would be able to buy more then. I was wrong. As you said, we often do this. Whether or not it's a mistake, it's debatable. In the past, I FOMOed to buy at a price I thought was low enough, and the price dropped much lower. I still believe a buy/sell in larger volumes as the price moves in the right direction makes sense. Whether or not our initial estimations are correct or need adjustments that's a different matter. For example, how many have you heard in the pre-bear market they will be expecting the 10-20 cent level for HIVE to buy? Well, that's almost sure out of the question. Even 35 cents seems highly improbable before the next bull market starts.

0
0
0.000
avatar

Totally get you... and sharing the same opinion as you...

In the past, I FOMOed to buy at a price I thought was low enough, and the price dropped much lower.

This is something where I was trying to "pick" the right word when I was writing about buy orders... The price wasn't "low enough", but it was your "comfortable price" for a long-term holding... I bought who knows how many tokens over the price that they are at the moment, but we are usually buying them expecting the "REAL" price hit later on... I don't care if HIVE was 0.20 and I bought it at 0.40 if it will go to $1... It would be nice if I bought more at a lower price, but if I'm in a profit, I'm happy... :)

For example, how many have you heard in the pre-bear market they will be expecting the 10-20 cent level for HIVE to buy?

Oh, you know that we heard a lot of that... The same goes for BTC and waiting for 14-15K that some people are calling out... Even if we see those prices, many people won't press the button to buy it... they will wait for 10K... etc...

And one thing more... When people are yelling some price for a short term... and MANY are calling out the same range... Usually, it doesn't happen... Like your example of 10-20 cent HIVE, or 100K BTC when we were at 60K... That's why I think that we will not see BTC at 14-15K, or HIVE at the price that you said...

But, we never know... everything is possible and this is just mine and your speculations... :)

!WINE
!LUV

0
0
0.000
avatar

!PGM ✌️

0
0
0.000
avatar

Sent 0.1 PGM - 0.1 LVL- 1 STARBITS - 0.05 DEC - 15 SBT - 0.1 THG - tokens to @operahoser

remaining commands 4

BUY AND STAKE THE PGM TO SEND A LOT OF TOKENS!

The tokens that the command sends are: 0.1 PGM-0.1 LVL-0.1 THGAMING-0.05 DEC-15 SBT-1 STARBITS-[0.00000001 BTC (SWAP.BTC) only if you have 2500 PGM in stake or more ]

5000 PGM IN STAKE = 2x rewards!

image.png
Discord image.png

Support the curation account @ pgm-curator with a delegation 10 HP - 50 HP - 100 HP - 500 HP - 1000 HP

Get potential votes from @ pgm-curator by paying in PGM, here is a guide

I'm a bot, if you want a hand ask @ zottone444


0
0
0.000
avatar

Thanks for the tokens and your support!

!PIZZA

0
0
0.000
avatar

One of the hardest things to do in investing is to buy an asset when it is down in price. It's human nature to want to wait for a bottom before buying, but the problem is that nobody knows when the bottom will actually be. If you wait too long, you may miss the chance to make a profit.

0
0
0.000
avatar

Good going! Thanks again for inspiring me to do my own goals. You are so close on LEO and WORKERBEE.

When you finish those two will you hold those and focus on the other two completely or continue on building LEO and WORKERBEE?

Posted Using LeoFinance Beta

0
0
0.000
avatar

I will see at the end of the year if I will continue with those two... As I have a nice chunk of WORKERBEEs, maybe I will stop with accumulation, but for LEO, I'm not sure... I still have some doubts about the token distribution and transparency... In any case, I will not sell them for sure... ;)

Great to hear that you are doing your goals and I saw that you are making nice progress... ;)

!WINE

0
0
0.000
avatar

Transparency in advance is sometimes iffy, but they are pretty good at general clarity for the future. everything is "soon" ;-)

They have earned my trust in their intentions however.

Posted Using LeoFinance Beta

0
0
0.000
avatar

Nice progress.

I am not seling SPS unless I get .5 Hive per SPS (irrespective of Dollar Value)

so it make 30 cent SPS and 60 cent Hive.. may be feasible.

Posted Using LeoFinance Beta

0
0
0.000
avatar

Thanks!

Interesting targets for SPS token... I'm a bit more "pessimist" and my first target is around $0.10... We will see if we will hit it in a few days during the MEGAFOMO created by SL team... :)

!LUV

0
0
0.000
avatar

If it hit 9 cents and Trench 1 do not get sold out, I will get my second Node license.

I am accumulating/buying SPS daily and SPS price increasing daily so that my SPS gap getting reduced daily. Let see finally if I am able to buy one.

Having 16700 liquid SPS now, but requirement is still close to 20K.

0
0
0.000
avatar

Speaking of node licenses... How many VOUCHERs do you get daily for having 1 license?
I was thinking to buy one, but not sure about APR... I know that they will implement SPS rewards too, but there will be more nodes also...

0
0
0.000
avatar

5.8

20000 Vouchers to be distributed daily to license holder. so once Trench 1 sold out, it will reduce to 4 and less.

Posted Using LeoFinance Beta

0
0
0.000
avatar

Thanks for the information!
!PIZZA

0
0
0.000
avatar

The "bottom" is another classic...greed eats brains.

Sometimes it costs a lot of effort to hold on to your targets.
I am curious how far SPS and VOUCHER will still move, I have formed my targets 😁

!ALIVE
!LUV

0
0
0.000
avatar

I am curious how far SPS and VOUCHER will still move, I have formed my targets 😁

hehehe... me too... But, only for SPS tokens... Still not sure what to do with my VOUCHERs... lol...

!PIZZA

0
0
0.000
avatar

That is some nice progress and I am thinking about selling some SPS plus VOUCHERS but I am not sure when. I do think the prices will drop back down so buying it back at a lower price seems plausible.

Posted Using LeoFinance Beta

0
0
0.000
avatar
(Edited)

PIZZA! PIZZA! PIZZA! PIZZA!

PIZZA Holders sent $PIZZA tips in this post's comments:
ph1102 tipped operahoser (x1)
ph1102 tipped captainloken (x1)
ph1102 tipped r1s2g3 (x1)
@ph1102(4/10) tipped @mypathtofire (x1)

Learn more at https://hive.pizza.

0
0
0.000
avatar

Yeah DCA is still a better approach. At least one doesn't feel too upset getting in at the "wrong" time because everything sort of averages out over a time period.

0
0
0.000
avatar

I really regret not buying more Hive when it was in the 0,3x area!! arrrghh!

0
0
0.000
avatar

The last time when we were that low, I didn't buy a lot, but I did sell a lot of old untamed packs for a nice price in HIVE... So, in some way, I did buy HIVE :)

!PIZZA

0
0
0.000
avatar

That was a great move. The worse was it was hovering in this area for such a short time, I was too slow to move.

0
0
0.000