The overall crypto market is down for the past month or so. I hear, more correctly I read, a lot of different opionions as to why is that but noone really knows how the market will react in the future and especially in the very long term.
Anyway, this post has nothing to do with the short term trading or anything like that.
My aim is to try and make some winnings in BNB. Why BNB and not another coin? Well, I just picked one of the top marketcap coins aside from btc and eth.
How will I be doing it?
- I am locking up $600 of USDT to be used in this specific coin trade.
- I will be using the DCA method and I will be selling my coins when in small profits (% will not be fixed).
- The profit will always be taken in the coin and not in USDT - remember the aim is to make units of that coin in the hopes of making multiple profit in the long term.
- Each purchase will a small % of the locked up amount.
- I will never sell at a loss (this might mean going through long period of time without a profit) - the risk will be the 600usdt at all times.
- When selling, I will have to pay a fee in the Usdt, so that will be decreasing the $600 locked up funds which will need to be replenished from time to time using some the coin profits.
Results
I have already started this before writing up this post.
| Locked funds | In active deals | BNB | Usdt | No of deals |
|---|---|---|---|---|
| $600 | $30.33 | 0.002798 | -0.30 | 2 |
Disclaimer
I am not a financial advisor. Do not take anything on my posts including comments, votes as financial advice, ever. Do your own research. Consult a professional investment advisor before making any investment decisions!