Scalping || Hive down, Market down....

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It has been seen, how crazy the market has been in the last couple of days. Some crazy coins made the market so much volatile and surprisingly few of those did made a million dollar marketcap. For something, it kind of reminds me of the days of "ICO". But still if you are being cautious it is possible to earn some quick money out of all this drama. But yet, this so called hyped coins coins are way too risky to make some gains.


One of the best way to take some profits while you day trade is via scalping. I have been doing that for HIVE mostly. The reason behind it is the profits which I have been making, I am counting that in terms of HIVE not the other way around aka in USD. So I am kind of focusing on how many HIVE I am accumulating rather than how much USD I am gaining in these transactions. One of the reason is, I am keen to grow little more in terms of HIVE before it is too late. You know what I mean right?


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While, keeping that in mind, I mostly trade in 5-15 min charts on HIVE. There is a special reason behind it. As hive really acts weird when a sudden purchase takes place and there seems to be a certain pattern for that. You may as well get that, when you can study the hive CHART LITTLE bit in different exchanges. But scalping can really effect pretty bad, even it can turn out to be a hassle for you if it goes the other way around. Like for me, if I loose HIVE that would have a negative impact on me. Which is why I try to get in lower low for that particular time and get out even I make as low as 10 hive or more. It might sound little off but I still am making profits and that is what matters.


Market Acting Weird


Honestly, the last 48 hours was really stressful. I follow some youtubers and damn even they were panicking a lot. One of those folks even declared about the imminent bear market. Creating FUD is really annoying and I am glad I watched those videos. Now I know what to do with those fellow Youtubers. RIP!


But even in this bear trend some coins were performing really great. As for example I have been looking up on CAKE for the last few days and it has been gaining some momentum and within these hiccups, there lies some chances to take some quick profits. I am aware, there are plenty of options but I feel like Cake and BNB will always see the light at the end of the day. As BIG BOSS BINANCE is there to pump and attract users. I usually try to stay away, from the market when it is bleeding. But in last one I got caught up with the hype. I still need to recover from those though. A lesson learned, do not follow the trend blindly and hop into it. As every profit and loss you make will eventually get only you. So there is that!


Even though I am listening to various news about market might go up but still being cautious at this very moment. I could easily buy some promising coins and wait for it to pump like crazy. But than again these so called FUDs are really catching up to us. So I am in neutral mode for the time being. Since I have a low amount in liquid better stay put than even loose this amount in this rush.


What have you been doing in this small downtrend? Were you worried? Did you panic sell? Or are you hodling?



Best regards
Rehan

Posted Using LeoFinance Beta



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3 comments
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(Edited)

That's right. Before witnessing the red bath, I was making around 100$ per day from scalping. Fortunately, I hit 90% of my targets before see all red haha.

Now, many people spread FUD while they don't know what cryptos are.

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I was making around 100$ per day from scalping

I hope you get that pace once again soon ;)

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