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Monero (XMR) thread
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The Grey Offline
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Post: #201
RE: Monero (XMR) thread
(12-04-2018 10:59 PM)young_money Wrote:  What do you guys think about the current price as an entry into Monero for a newb?

Honestly, it depends on your goal and timeframe. It is likely we'll see lower pricer than today.

My strongest advice is dollar cost averaging into the coins / assets you want (high reward, low risk, low stress and lowest amount of effort). Use a fixed amount (ie $100 or fixed % of your salary) every month to buy the coins / stocks you want, regardless of price.

If you want to trade more actively you can wait until the price of XMRUSD crosses ABOVE the 200-day moving average. When this has happened, the price will already have found its bottom some time ago and risen since.

But it means that we have most likely reversed from bear to bull market and your risks are significantly lower.
(This post was last modified: 12-05-2018 12:18 AM by The Grey.)
12-05-2018 12:16 AM
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SamuelBRoberts
SamuelBRoberts Offline
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Post: #202
RE: Monero (XMR) thread
(12-05-2018 12:16 AM)The Grey Wrote:  If you want to trade more actively you can wait until the price of XMRUSD crosses ABOVE the 200-day moving average. When this has happened, the price will already have found its bottom some time ago and risen since.

But it means that we have most likely reversed from bear to bull market and your risks are significantly lower.

Not sure I 100% agree with this; we're starting to see weird, likely unsustainable spikes in stuff. (Like BNB today)
One possible strategy would be to wait for the 20 day moving average to cross the 200 day moving average. That would give you a bit of a safer entry.

Also I looked at the XMR chart for the first time in a long time today, and good god. It looks like death.

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12-05-2018 12:46 AM
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SamuelBRoberts Offline
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Post: #203
RE: Monero (XMR) thread
I poked around and yeah, buying after a pop above the 200 day is a bad strat in this market.
XRP went above the 200 a few weeks ago (God knows why) and if you bought then, you would've lost something like 30% in the span of a few weeks.

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12-05-2018 11:22 AM
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