Longs


I have people finding my email address now. I'm not going to say how, but they are pissy I didn't enable comments. I didn't enable comments for the same reason I advocate blocking/disabling the trollbox. Comments here would turn into a cesspool of spam and bag holders.

Longs

A long is you doing research and determining that a coin *IS* going to make it afterall. And it's something you EARN the right to do when you make enough playing the shorter game I've been advocating so far. Here's my rule for longs:

1) Do I have 100 dollars worth of play money right now that I won't miss

That's it. Then I need a good candidate. Here's where I start looking:


That's right. I head to coinmarketcap and I scroll down to 50, and I start researching coins. Typically on Sundays. I take detailed notes on things like:

1) Does it have a purpose
2) Does it have a following
3) Does it make money
4) How has it done so far?
5) Does it have a direct competitor yet?
6) How/is it mined and is that sustainable?
7) How many are added to the market daily if they are, and how does that effect value?
8) What are the growth prospects, and what is driving them?

I could go on a while. But you get the idea. I want to know how the coin works.

Then I do a test buy and I play with it, and (this is very important) pick an exchange. You can make your life ten times easier just right sizing a coin to an exchange. 

I'm finding, for example, I prefer Nem on HitBTC. That was an earlier revelation. But I can already tell you I prefer Eth on Bittrex and I prefer Ardor on Polo. Right sizing is simply seeing which exchange has swings of 10 percent or more regularly. That's the effect of the size of an exchange on a stable coin. The size of the swings. You need those swings to make consistent profit.

Then I start growing it. IF THE COIN IS GOOD ENOUGH, I shouldn't have to invest much. Once I have about 1K worth...

It goes to another exchange. Why? To protect me from myself. I take that 1K worth of coins, and I move them to that other exchange, and I put up a HIGH sell order. Multiple times higher than the current value. And this makes for Christmas.

The entire point to a hobby is enjoying it.
The way I trade inspires constant joy.
Because you will have daily sells on your dailies
But every once in a while, you hit the lottery when one of your long sells happens.

: )

That's why you do longs

It makes this amazing hobby even better

A hobby that makes wealth.


One More Thing,

The idea is to be diverse with your longs. The more diverse you are, the more often Christmas happens. 



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