Keep an eye out for this, and if you're long, look for the targets to reduce exposure or trail stops. Price shouldn't fall under the current week's low ideally. Developments in this currency have been interesting and might end up benefitting ETH even, with the Plasma tech they are working on. I would assume there is steam left for this rally to continue, the key is asking: can this outperform ETHBTC? If not, I would rather hold ETH instead. At the time, it seems ETH can surge by 50% in the same timeframe, so OMG might end up outperforming it, for what it's worth. Position sizing should be modest but big enough to risk say 0.25 to max 5-10% -depending on wether you are up on the year, profits wise, or not- If you are not up for the year in your account, better risk below 1%. Stops for this, I wouldn't use but the size you can accomodate to avg. volatility figures, or based on not going below the week's low after the breakout.
Best of luck,
Ivan Labrie.
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The chart is a lot weaker vs ETH, means the move up, beating ETH won't last long:
Maybe 7-8 days.
So, if you invest, use spare BTC.
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Great progress.
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We now have a full position, and the market is ready to move.
I'm with you, Ivan. Added on the dip yesterday :-)
IvanLabrie
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@crypto.888, Great! Looks quite good, it is a matter oftime before it breaks out sharply.
malotiin
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Hi Ivan,
When you see an entry call for a XYZ (any alt)/BTC, do you see it for /USD(T) as well?
cheers
IvanLabrie
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@malotiin, yes, both. I want to see it outperform ETH and BTC, otherwise I would rather hold ETH and BTC.
And I want to see ETH outperform BTC otherwise I would be in BTC only.
sergionero
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I sold most of my stake also.
Community is waiting for "big news" in september, but it cam be not so 'big' as they expect.