Do you buy the dip?

bestspinner · May 16, 2021

Hello friends, so I made this simple crypto analysis on Google sheet to track price, volume and add some indicators
Even though bitcoin price is the highest but according to the RSI it is the smallest compared to other coins on this list

MisterF · May 16, 2021

If I'm in the market I buy as it's coming back out of the dip.

Never try to catch a falling knife.

Deleted member 1333509 · May 16, 2021

Times like this it's best to flip a coin and if it's heads then go all in (including remortgaging your house).

alus1onZ · May 16, 2021

There is no such thing as buying the dip. The "dip" depends on what entry price YOU are comfortable with.

You should buy the fear and sell the greed instead of buying the dip and selling the top, because you might get lucky to buy the dip once or twice, but buying the fear works almost always.

Fakker · May 16, 2021

VSYNC said:
Times like this it's best to flip a coin and if it's heads then go all in (including remortgaging your house).

I think these times are worth one of your posts on the matter where you elaborate what, when and why.

I did enjoy your post on BTC before Elon decided to throw shit bombs to BTC, I would enjoy reading your opinion after that.

I know what you think of Elon's behavior (and I agree), but your financial view is what I care most.

Thanks.

Fakker · May 16, 2021

alus1onZ said:
There is no such thing as buying the dip. The "dip" depends on what entry price YOU are comfortable with.

You should buy the fear and sell the greed instead of buying the dip and selling the top, because you might get lucky to buy the dip once or twice, but buying the fear works almost always.

And is this fear or dip then?

No sarcarsm intended, genuinely interested.

Ashway · May 16, 2021

Not sure if its fear or dip but couldn't resist buying some ETH at this price point

AlexanderTheGreat · May 16, 2021

After seeing all these analytics, I only get the thoughts of creating and marketing my own coins

Pardon me please!

phoenix9 · May 16, 2021

alus1onZ said:
There is no such thing as buying the dip. The "dip" depends on what entry price YOU are comfortable with.

You should buy the fear and sell the greed instead of buying the dip and selling the top, because you might get lucky to buy the dip once or twice, but buying the fear works almost always.

And how to determine fear or greed?

Should i ask crystal ball?

True Miller · May 16, 2021

phoenix9 said:
And how to determine fear or greed?

Should i ask crystal ball?

Use indicators, sentiment analysis.

Fakker · May 16, 2021

Ashway said:
Not sure if its fear or dip but couldn't resist buying some ETH at this price point

I set a buy at $3600.

Ashway · May 16, 2021

Fakker said:
I set a buy at $3600.

Dont set round numbers as buy or sell limit. too many people keep like this and you might miss grabbing it if many people keep same number and they are ahead in line.
happened to me multiple times

Keep something like this 3607, 3627 or something random like that.

Fakker · May 16, 2021

Ashway said:
Dont set round numbers as buy or sell limit. too many people keep like this and you might miss grabbing it if many people keep same number and they are ahead in line.
happened to me multiple times

Keep something like this 3607, 3627 or something random like that.

Makes sense.
Changing now.
Thanks a lot.

phoenix9 · May 16, 2021

True Miller said:
Use indicators, sentiment analysis.

Indicators? Are you joking?

Scorpion Ghost · May 16, 2021

I just buy high and sell low bro. I catch every dip!

oldguyjoe · May 16, 2021

True Miller said:
Use indicators, sentiment analysis.

Technical indicators are derived from price action and they tell you what already happened, they can’t predict the future per se, but they can be used to somewhat estimate the future if enough people are using those indicators in their analysis. A bit like self-fulfilling prophecy. They work, until they don’t

Backtesting is essential step in strategy development and should always be followed by forward testing with a demo account. With a proper strategy you only need to be right a little more than you are wrong if your winners are losers are equal sized. Well, that’s the theory at least, hehe.

Most traders lose money, but most businesses go under within 5 years as well. Pick your risk lads.

The longer you intend to hold your investment, the less important technical indicators are. Some say, and I do believe them, that the safest investment strategy is looking at the fundamentals and finding undervalued companies (in simple terms: where the shares * price < value of all company assets). This is not investment advice and is very simplified!***

don7777 · May 16, 2021

Scorpion Ghost said:
I just buy high and sell low bro. I catch every dip!

90% of the crypto newbies do that

Scorpion Ghost · May 16, 2021

don7777 said:
90% of the crypto newbies do that

QualityService · May 16, 2021

@VSYNC Is the BTC going to 42000 this time, as you analyzed earlier?

I am mainly interested in CAKE, looking for the right entry point. It's hovering around $29. Do you think its gonna touch $25 or lower in a day or two?

splendiddog · May 16, 2021

don7777 said:
90% of the crypto newbies do that

Why you gotta attack me like that

Do you buy the dip?

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