Is this ALGO Short Trade Finally Gonna Pay Me?
I shorted the moonshot on ALGO a week ago. At that point it's price had blasted through prior highs and was super stretched from the 10 day moving average and it had put in a big candle with a large enough upper wick.
My bet was that a pullback to test the prior high as support and converge with the 10 day MA was in order.
Except, the mother lover wouldn't break down, it just teased me looking like it was gonna crack.
I did take 1/3 of the position off to book some small profits at an avg price of 1.96. My entry price is 2.16 (marked by the blue arrow) and I am letting the rest still ride with my buy cover order at 1.72 still sitting out there at that prior resistance line.
That would cover half my existing position as I have another order at 1.25 in case we get a crypto sell off and it gives back the whole move. I may adjust that though.
You can do it!!!!
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Damn these posts seem to be generously rewarded. I've been holding ALGO for a long time and earning the interest without worrying about trading, but still would've liked to see a bit more volume on the content, not just the candles. No offense, but I disagree with these rewards.
Yeah, I'm actually looking to get long ALGO but saw it after the moon so figured I'd short it and use those profits to buy in on the pullback, which thankfully we are getting.
Where are you staking your ALGO to earn interest. I'd like to do the same and since we don't have it on cubdefi.com gotta go elsewhere.
As for the rewards, looking at the whole picture helps put things in perspective. Been posting nearly everyday since 2016 (steem then hive now leo) and earned literally $0.00 on the majority of my posts my first year on the platform. In addition my free marketing to my crypto newbie investment community onboards to leo and cubdefi regularly. To be honest, I feel undervalued, but looking at this post standalone, yeah I get what you are saying.
P.S. If you do a post on ALGO staking I would appreciate it and vote it (as will the accts that trail me). Thanks!
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You didn't ask me but I am staking my ALGO in Atomic Wallet @7.49% because I feel it is the safest mobile accessible option since I hold my keys. There are several other options to choose from and you can calculate your potential staking rewards here. https://www.stakingrewards.com/earn/algorand/
Awesome, I will check it out. Thanks!
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Thanks, mate. I was looking for exactly this!
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I am 100% sure not everyone can do the TA as you do and although I don't fully understand, it helps me to find those gems you do analysis on. ✌
Normally people would pay thousands of dollars to other traders for getting access to such info. Must have taken you years and a lot of money to get better at it.
72 LEO is what? $14 at the current price. Highly undervalued imo. There's also a lot of background work that most people do not see but it adds value to the community. I love listening to you and khal and others on the AMA videos. ✌ Keep doing what you are doing mate. Also, looking forward to your tutorial video once we migrate to V2.
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Thanks! Yeah I have been working charts since for nearly 20 years now. I do my best to keep it simple and not go overboard with all the indicators.
Hopefully I can do a V2 video, I may be away from my machine for the day before it goes live. We shall see :-(
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No problem mate. Do it if you can. ✌
Your vids are always helpful.
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Appreciate the respectful reply. I get it. I've been here since 2017 and had years of microscopic rewards while the rich got richer. I tend to post mainly in my own niche or two, which isn't where the larger audiences dwell. I did my first LeoFinance post the other day and it was well-received. However, I don't want to blog much about my holdings for privacy. That Osmosis post was just to share the wealth.
As for Algo, I simply hold it in their native wallet where it's collecting a modest interest. While it's a layup to short after a surge, I've been buy and hold person for years. I win a lot of swing trades "in my head", but generally don't want the tax liability for it as I ideally want to continue to grow the passive income streams across my portfolio, and lend/borrow in perpetuity to not need to sell.
Cool, yeah I am looking into the native wallet and some other options. Exodus has a Algo staking option too. Appreciate the heads up!
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this is how a top looks :)
Good luck to you!
I heard the news yesterday about SkyBridge Capital (owned by Anthony Scaramucci) announcing a $100 million fund for Alogrand and today the price tanked with the whole market. Seems like a cool buying opportunity.
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This ALGOUSDT I want to invest small on it but I don't know how stable the coin is. Please is the coin stable
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The hell if I know LOL. Someone else pointed it out to me last week and I already forgot what I like about it :-p I'm just throwing a little YOLO money at it hehe.
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Okay
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