thetradingparrot
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Altcoin season index is at 35: it's time to work on your master plan
🕑 Added 2021-07-15 11:46:39 +0000 UTC
Altcoin season index is 35 today.
The story should repeat and the recipe for success is still the same.
This is my personal plan:
1) wait for it to go way below 30, those levels provide the biggest opportunities.
2) stay there a bit in accumulation phase (1 to 2 months)
3) pick some gem alts, DCA way in with a bot.
4) start some bullish bots, once we start heading back up from below 30
5) make money on the way up
And the most important of all steps!!!!
6) TAKE PROFITS and switch OFF bots when the market is getting overextended.
It's better to miss "some" profits than to risk it all.
I'll be doing this one step at the time.
For now, I'm observing and taking small risks.
I have around 60% in cash.
A plan and discipline makes money.
Work on your emotions :)
Let me know what's your personal plan for the rest of the year in a comment below.
Comments
You can accumulate any token you are feeling bullish on.
Hello, may I have some questions? Point 2) when you say to stay for some months in accumulation phase you mean we should accumulate BTC or the ALTS? Point 3) we should run DCA bots accumulating ALTS? But until now I've seen just bot accumulating USD or BTC in the bot dashboard. Point 4) bullish bot accumulating BTC or USDT or ALTS? Sorry for the stupid question I'm still a lot confused in the way profit should be thinked. I've been in the crypto world for 6 months by now and still think profits in USD. I know i should start thinking profits in BTC or ALTS but this still confuse me.
Sounds like a pretty decent plan mate!
David May
Sorry, I'm not understanding you
i check on the performance of accumulating bots vs for eg usdt bots where we taking profit in usdt... i stopped all and switched to base currency instead of quote. Reason being is yes - it was buying the quote currency and accumulating it from the profit and a higher price. Instead now i prefer to use the usdt or btc bots only and buy what i like manually at a lower cost... makes sense?
David May
I'm still working on a plan. So far it is to observe and accumulate BTC until we see some sort of life Then use the BTC to move into Alts once they find a floor and start to outpace BTC Buy dips on the way up Take profits when BTC is starting to look extended and we're hitting extreme greed It's not much of a plan yet
David May
Which bot do you intend to use to DCA into positions?
https://www.blockchaincenter.net/altcoin-season-index/
David May
Google altcoin season index
Where did you watch this graph? Trading View?
