Hello Hivers! There's 2 things I really like about. First is what I believe my passion, the trading. And second is what I consider my hobby, the gaming. Both are included in cryptocurrency metaverse! That's why I'm really hooked up on Cryptocurrency and its technology.
5 years before I think of Bitcoin as a "Mania" and will collapse in the future. Since I believe back then that bitcoin does not offer any value. But then! when I research about cryptocurrency specially when I get to know Hive blockchain. Then I get hooked up in buying, investing and trading cryptocurrency ever since then. Specially now that there's this game, SPLINTERLANDS that I'm currently very hooked up.
So! back to the topic. Now I'm interested and learning on how to trade and what system must I apply on trading cryptocurrency.
Introducing my new target! HNT a cryptocurrency based on network and radio. Actually not that sure what it does. lol But the chart gives me the vibes that it will break the all time high and enter the what you call "Uncharted area".
The rules and principles that I apply or practicing to apply on my trades are very simple.
It must be leading on its crypto category or has a unique technology. By crypto category, what I mean is like for example AXS is the leader for NFTs type of token and LUNA for finance token as of the current momentum.
The price must be 50% lower on the all time high or the price is near all time high.
Never buy on breakout as it is easily get whipsawed because of extreme volatility. I always practice to buy on pullback but it's not always the case lol. Sometimes I can't control my emotions.
RSI must be convergent with the price movement.
There must be a volume on the initial breakout. This will cause the start of the uptrend.
HOLD! As long as price keeps going up specially when it breaks all time high. Too bad I sold too early on AXS but it gives me $500 profit. Not bad but still.. I need to practice my emotions.
I think that's it! I hope this rules and principles makes me wealthy in the future while trading cryptocurrency. I hope some people get something on this post and helps them when they try trading in the future.
I will not bother you with technical details too much but I will! probably on my next or future posts about trading. :)
Happy investing Hivers! Goodluck! I hope to make more money on my trading so that I can buy more cards on Splinterlands lol.