Riding the TEZOs Wave
bigwave

Riding the TEZOs Wave

By rah | rah | 13 Aug 2020


What a week!

My favourite Crypto went nuclear and to mix my metaphors I rode the wave as it crested and leveraged further advantage as it receded. Taking advantage of both rising and falling prices has to be the ideal of 'Crypto-synergy'

Let me explain…

Using a variety of different strategies I have been loading my TEZOs wallet for the last month or so since I made the decision to use it as my holding account. Generally it holds profits and I was converting to TEZOs at anywhere between £2.22 and £2.40. Slowly incrementally  it was building up and I was also leveraging additional TEZOs (using the principles discussed in my post It’s Not All About Money) by riding smaller more predictable waves…

And then BOOM!

boom

The price significantly accelerated, peaking at £3.38* on 10th August before beginning to settle. At the time of writing the price is £3.12. I took my profits into DAI through conversion, but still held a significant amount TEZOs and while I bailed before it peaked (I actually thought I had done it too early at the time as I was surprised that it continued to grow beyond £2.20) I moved much of my TEZOs holdings to USDC and waited.

I didn’t need to wait too long as they began to settle the price fell and at £2.98 (I know they fell back to £2.92, but I was unsure where they would settle) I converted again back to TEZOs and increased my TEZOs holdings. Per TEZO held I leveraged approximately £0.20 or in simple terms for every 15 TEZOs held in my USDC wallet I leveraged another one. This is a QUANTITY return in access of 6.67% and while the funds weren’t in my TEZOs account for a short while and not being staked the rapid return more than made up for it. It was worth losing a couple of hours of staking income (estimated at 4.03% p.a.) for such an easy increase in profits.

In layman’s terms I got a year and a half of staking profits through successful leveraging of my holdings in just a couple of hours.

So to summarise I both took profit and increased the amount of TEZOs I am holding; a perfect result.

My main reasons for writing are twofold. Firstly it is always good to share success stories, but secondly and probably most importantly to demonstrate that the principles I have been sharing extensively here work, subject to Crypto market forces.

As a final conclusion it is worth remembering that while profit is our primary motivator it is also a good illustration that It’s Not All about the Money.

* Figures based on Coinbase data and while the figures have moved more were accurate at the time of writing.


rah
rah

I love reading and technology as well as history. I teach English and Business to professional clients as well as soft skills with a focus on communications. I am a big fan of both Sheffield Wednesday and Lincoln City Football clubs


rah
rah

Experienced Business Owner and Coach and Tutor who now trades in Crypto. It is proving to be an interesting journey with so much technical language involved. Follow me as I learn the trade (and how to trade). Made some howling mistakes to begin with, but still learning and will share what I learn as I learn it for the benefit of the community. - RAH

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