As I mentioned a week or two ago, I’d slightly misunderstood CoinEx’s “dual investment” setup.
I thought it checked prices all the time to decide what happened, but it doesn’t.
So, let’s say I put in a BTC “buy low” at $68,000 for a day. I expected the setup to keep an eye on things and, if the BTC price dropped below that level at any time during those 24 hours, it’d buy. I’d get my BTC, regardless of what happened to the price after that point.
What actually happens is that it does nothing at all until 30 minutes before the chosen period ends, the “settlement time” (always 8 a.m. on the day in question). Then it averages the price for the 30 minutes up to settlement time and compares that to the $68.000 buy price. It doesn’t matter if the price was higher or lower in the 23.5 hours before those 30 minutes.
This changes how I do my dual investment trades.
It still works the same way in my head: pick the price at which I’d buy or sell, then look for the best offer. But instead of investing whenever, it means I wait to see where the price is moving.
You see, dual investment offers higher APYs when the current market price is closer to the buy/sell price.
If I want to “buy low” on ETH at $2,100, I’m better off waiting until the market price is under $2,150.
Or under $2,125.
Or best of all, at about $2,101.
Then I get stupid numbers like 500% APY.
If the price keeps dropping and my “buy low” goes through, I’ve already made about 1% on the trade and just have to wait for prices to go back up. putting in “sell high” options for % gain every day if the price hasn’t dropped too much.
If the price turns round and goes back up, I don’t care: I still made about 1% without doing anything.
What I Do Now
I now put my crypto/stables into flexible earning first thing in the morning.
Then I decide what price I’m looking for, and I wait.
The waiting is good for my twitchiness, it makes me more patient.
I wait for the best possible rates or – if there’s nothing good available – leave my coins in flexible earning and get a few cents.
Rinse and repeat.
Using this approach, I’m turning nice, steady profit.
So far. 😁
