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- Jul 7, 2015
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The Strategy I have been doing is riding the different waves. Somewhat of the strategy James mentioned earlier. I started my CoinBase account with $500, got in with LTC @ 144. Yesterday, I bought an extra $500 @293 with the anticipation that it will trend upward. Right now it's hovering around 320s and I am expecting it to go up between 350 -400 by the time I'm able to sell and redeploy depending on market trends.But the question is so what? You buy at $19k and do you sell at $22k? You are betting on a 15% increase in a day. Are you going to sell at $22k?
What is your strategy here?
I'm probably looking at this from a different perspective, but I'm not trying to get rich off of these coins. I'm going for ROI. To give you an example, when BTC had it's run up from $8k to $18k, I dumped my money into LTC at $100 instead of BTC. This may not be a great long term play, but LTC has returned 3x at $300+ now, vs. BTW at 1.5x at $19,000.
So the question is, are you trying to accumulate as many coins as possible and hold, or are you trading for ROI for some goal?
If you are long on coins, you shouldn't be moving them around trying to catch little spikes. If I sell on my LTC and move to BTC, will I have more money in 5 years than if I kept all my LTC?
What I am really trying to do is start buying the Alt Coins, but I'm not able to do it through Coinbase, still a bit iffy about putting my full info on some of the other platforms like Kraken or Bitstamp
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