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Something I wanna share.
I am very good at scalping and swing trading but indeed the huge profits are made by holding and DCAing in the good coins.
what is a good coin?
A good coin is a coin that has the potential to outperform regardless of market conditions and make history.
How can you identify a good coin?
-First of all a based team
-Die hard community
-Great vision/great targets
-Bag working at its finest.
-Established whales that keep the chart holding and respecting PA.
-Long lasting memetics
Obviously we always have to reassess our positions based on simple TA. No one will do the work for us. You are responsible for your trading journey.
BUT. There are times that buying and holding is better.
As long as you find a coin that ticks the above, AND its chart allows you to size in and ride the momentum, do it.
I mean this is how someone can turn the 50% to 5x for example. Of course by partially taking profits. This is why we need to be educated and mentally strong to resist the greed.
While in a downtrend in the general market, everyone is in depression, no one is holding. But as soon as market dynamics allow good coins to prosper, this is where you switch your strategy. You can hold for longer and partially take profits on the way up. Target is not to sell the top. Don't get distracted. No one catches the top.
So, as long as the conditions allow it, you can set higher and higher targets. Momentum dying off? Step back and reassess. Your chart will show you the way.
-But how can you know that a team is based?
You don't.
That's why in every trade you are willing to take, you can ONLY trust in your TA and chart reading skills. This is why it's so important for you to develop this skill. Don't get trapped in believing in something blindly. Be a trader.
My point is that some trades can take longer. But this is where you size in. There are some opportunities that you HAVE to utilise.
And my picks for this kind of trades, as I previously mentioned are $kermit and $spsc.
My experience has lead me to the conclusion, that both of them deserve and are going much much higher from here.
NFA and always do your own research.