Originally I had posted updates whenever I made a new move in terms of trading, but I thought that would be spam. Hence I plan to update once every week, or whenever appropriate.
Bitcoin has been falling steadily over the past 2 weeks, and I have been slowly accumulating them. As of now, I have staggered my buy price at 46111, 45555, 44444, 43333 and so on, all the way till 39999 BUSD per bitcoin. The average down so far results in me having 9923 BUSD worth of BTC at an average price of 43550 BUSD per coin.
I have a friend who always went all in when he see the price is about right, but for me now I prefer to stagger my buying price. There are pros and cons to this method. The pros of staggering let you buy in in stages, as you never know what is the lowest price. Sometimes the stagger may mean you buy at the same price at different times. For my case this round, I bought 3 rounds at the price of 44444 BUSD per BTC. However, the cons of staggering is the price may take off before you reach your intended volume.
For most of us commoners who have no access to critical information, I would say staggering your purchase is a safer way to trade. The risk compared to all in at one go is that you may earn lesser. But if the price keep falling, and you split your purchase, you are able to average down your buying price, resulting in an easier time to breakeven and to go for profit should the situation reverse.
At the time of writing BTC is at 42000 BUSD, and although I am still at a paper loss, I am confident that it will go up soon. In the event that it falls further, I have also placed additional queue at 38888 and 36666 BUSD per BTC.
Let us see how it goes.
