QUESTION
Carter,
Thank you for the strategy paper on buying cryptocurrency using dollar cost averaging. I'd like to take you up on your offer to provide answers or resources. Do you have any confidence in price technical analysis when it comes to cryptocurrencies? If so, do you have any resources that you recommend?
Thank you.
Rick
ANSWER
Hey Rick,
I think there is some value to technical analysis but a majority of people don’t do it correctly (at least their returns will tell you that haha). I’ve also seen enough people make a LOT of money using it so I know it works.
Probably the best resource if you’re interested in this stuff is Chris Dunn. You can get introduced + watch his webinar here: http://www.coinmastery.com/trading-class
I’ve learned more from him and Rocky than anyone else. My own two cents on what works best with trading:
– The less often you trade the better
– Have all your buy / sell limits set before you execute anything
– You need to move a good amount of $$ if you want to make $$ in the short term
Good luck!
Carter