💡#quinn_tips : The Reality Behind the “Buy Low, Sell High” Rule
People often ask how to buy low and sell high. Truth is, it’s almost impossible to catch the absolute bottom and top. Instead, here’s a method I’ve found reliable, especially in the current ranging market. I’m using this on spot, and it goes like this:
1. Enable average buy/sell lines in the #Binance UI. It will display average of your previous buy and sell orders.
2. Buy close to the average buy line: For assets you trade often, aim to buy below or at least near your average buy line.
3. Sell near the average sell line: Feel free to sell above or close to your average sell. In the worst-case scenario, just make sure to sell above the average buy.
Remember, this won’t work in a strong uptrend or if the price suddenly drops. That’s why I keep an “emergency” stop-loss order in place, adjusting it daily as a precaution.
As an advanced technique, try to use conditional orders to implement both profit sell and emergency stop loss simultaneously, thus decreasing your screen time.
I’m using this strategy for all my alts like $STORJ , $GLMR , etc. even if I don’t plan to hold some of them long term. I’m using it also to accumulate some $ETH holdings and make some profit of it in spot.
