I talked about Hive price yesterday and how it can change in the coming days but there are also other opportunities in the market. HBD pump is a good opportunity on Hive. But it happens occasionally and not very regularly. There are some people who make a huge Hive purchases in the internal market. I personally think that it is the cause for the HBD spike but I may be wrong too.
When more Hive is bought from the internal market there is an imbalance and the HBD price increases. It takes some time for the stabilizer to work and bring the price back to 1$. Nearly a week back there was one such spike that took the price of HBD to over 50% and today there was again a small spike. This spike was only 30 percent. I should first say that I was fortunate to witness this spike as it was only short-lived. There was already a buy order waiting in the market anticipating something like this. But my buy order was at 36 cents and 35 cents and it would have not worked out.
I thought I should not be very greedy to make use of this opportunity. So I increased my buy order to 37 cents. I bought 1000 Hive at 37 cents and I was very happy about it. I noticed that the price dropped further down to 36 cents too. But there was already a buy order waiting at 0.351 dollars so I did not worry too much if the price goes down further in the internal market.
I then noticed the price was improving and I sold my hive for 42 cents in the market and booked my profits. This quick trade helped me hold more HBD than I would have held if I had missed this pump. 50$ was the profit for me. I know it is very risky to do such trades but I'm okay to take that risk. Not all the trades have been successful for me but I like taking this risk.
Swing trades are very risky
I would like to also say that swing trades are very risky and are not for everyone. I would like to take the risk and that is why I'm playing this game otherwise I don't think it is wise to do this. People end up losing more than earnings here. My intention while playing the swing trade games is that I don't mind purchasing Hive at that price because even if it goes down further I would be happy to hold because I believe in the potential of Hive. I still have some Hive I bought when the price was at 90 cents. I'm waiting for 1$ to sell them back.
At the same time what if the price of Hive spikes after I sell them at 42 cents? Here again, I don't care because I would be okay to sell my Hive at 42 cents and book my profits for today. I have no hard feelings when the price goes to 80 cents today itself. This is something that helps me do these swing trades. If you don't have these things in mind, it is good to avoid doing swing trades.
If you like what I'm doing on Hive, you can vote me as a witness with the links below.
Hive Witness
@kanibotHive Engine Witness
