I used to do a lot of swing trades in the past. Most of the trades I do will be on the internal market on Hive. Most of the time it is favourable and I have not had any instance where I had to stop loss. But sometimes the market is unpredictable and that is when we might end up having a loss. But the intention is always to hold Hive no matter what happens. This time I'm finding it hard to do some swing trades. I know for a fact that ultimately it is going to happen some day but the price movement currently is not very great. BTC is also having a bad time right now.
Despite all the above, I'm glad to see Hive tanking above 30 cents which itself is a good sign. For doing some swing trade, I bought some Hive when the price was at 30 cents a few days back. I thought it would be a good income even if the price hits 35 cents and not too much. Last time I was fortunate to purchase at around 35 cents and sell them at 38 cents. This time it is getting a bit tricky. I have not seen any upward trend yet for Hive. Well, the price is over 30 cents but it would be nice if it hits 35 cents once and then get back to 30 or 31 cents. I want that to happen when I'm available for trading.
Staying awake and being available to do trading is very important. Sometimes opportunities are missed if things like these happen during our sleep or when we are not available to trade. I have seen the price pump just for a few moments and I would be available to watch the price but I would be away or may not be in a position to buy or sell. I would call a swing trade successful only when I'm able to buy it and sell it for a little higher and again buy it back when the price goes down. This I would say is a cycle for swing traders.
The biggest expectation currently I have with the crypto market is to see the price of Hive reach somewhere around 35 or 38 cents so that I can book my profits and get ready for my next swing trade. If it is going to take some time, then I have to convert the Hive to Hive power and make use of that at a later point in time when the price of Hive completely improves. Two years back when the price of Hive was around 90 cents for a very long time, I failed to do a swing trade. I bought a lot of Hive for around 90 cents and was waiting for a short swing trade. My idea was to sell them when the price hits 1$ again. But my bad luck played very well when the price of Hive did not reach 1$ and not even 90 cents after that. I ended up powering up all those Hive and waiting till today to sell them again.
This is how my bad luck works with Hive trades. Not just me but others would have also experienced the same thing but I don't worry too much because having Hive as Hive power is not going to go to waste and we can reap the profits when the price of Hive improves later. It is just that it is taking some time.
If you like what I'm doing on Hive, you can vote me as a witness with the links below.
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