Today something happened to the market. I was away from my desk and I noticed that the HBD price was pumping. I was a bit sad that I couldn't make use of the opportunity. I noticed that some of the Hive Engine tokens I placed for selling were all sold. I was happy about it but I couldn't make use of the opportunity to trade Hive much. The price of Hive went as low as 50 cents and now it has recovered back to 55 cents again. Today morning I noticed the price was over 59 cents as well.
Among some of the good trading days, we have usually, today is one such great day if we know how to make use of the opportunity right. For people who would like to purchase Hive and hold it for the long term, 50 cents is a good price, and today when Hive reached 50 cents, they should have bought it and held it for the long term. At the same time for people who have been waiting for a long time to sell some Hive and book their profits, 60 cents is a good price too. So we can sell Hive for 60 cents and make use of the next opportunity to buy low.
In both these strategies, there is a risk but it is all up to the mindset we have. If we are okay to hold Hive long-term, 50 cents is definitely a good price to purchase. Even in the worst case if Hive goes below 40 cents or something, we can always wait for the price to heal back. It is like how people bought Hive for 90 cents and have been waiting for the next opportunity to purchase it back when Hive hits 1$ again. I'm one such person who bought Hive when the price was around 90 cents. I would also be interested to sell some at 1$ and book my profits.
People selling Hive at 60 cents will also have a risk to lose any additional value if the price of Hive goes way above that. Even if the price spikes for a short period of time, we would be missing the opportunity to bag bigger rewards if we sell it for 60 cents. But people who sell and earn regularly will not worry about it. Some people make a living with Hive and they don't care about selling Hive for whatever price it is on a particular date. But some days can be like today where if we had acted cleverly, we would have been able to do swing trades continuously.
I thought I did not get a chance to trade Hive today for the best price but then I realized that the SWAP.The HBD order I left on Hive Engine was filled today. That was also a good deal because even if I swap it back to SWAP.HBD again, I would get a decent profit out of it. I did not realize that I had this order placed a week back. 55 cents is still a decent price. I'm thinking of purchasing some Hive again when the price goes down to 50 cents or something and then selling it when the price is crossing 57 cents. It requires a lot of patience though.
If you like what I'm doing on Hive, you can vote me as a witness with the links below.
 |
 |
 |
 |
 |
 |
Posted Using LeoFinance Beta
