Litecoin play

If you don't have a long play in LTC right now, you're overlooking one of the better opportunities for a quick profit. I'm not saying buy and hold the coin, I don't own any. I'm saying if you haven't leveraged your ETH and BTC to take out a long position in LTC for this weekend then you're about to miss a 40-50% profit opportunity minimum.
There has been a quiet accumulation going on in the background as ripple, eth, nem and btc steal the limelight. Which has allowed others to continue to buy up LTC at $27.

I've been going long on ETH and LTC for about 2 months now. Every week picking up a 1 to 3 btc profit depending on the magnitude of pump and hype. Now that the heat is out of XRP and ETH is too high for people to consider for serious profit, the attention will turn back to LTC with a $40 target not unreasonable.

I'm currently long about 9btc worth (20% of my tradeable balance), all below 0.04 and will continue to take up larger positions as long as it is below 0.039. I'll keep doing this until it breaks out.

As always though, do your own research. Don't over leverage yourself and don't FOMO. This is just another trader pointing out a possible play.

Attached is my portfolio from the past couple weeks for reference. The big spikes are me closing my margin positions.

>says to buy litecoin
>owns no litecoin

>Doesn't bother READING the post
>just looks at screenshots
>forms an assumption
>exposes himself as an idiot

Good thing this board has IDs

At what price would you buy in you anticipate?

were gonna mine it though right?

r-r-right?

>tells people to leverage btc and eth for ltc
>owns no ltc

Good thing this board has IDs

>LTC
DID I JUST FUCKING TIME TRAVEL BACK TO 2013?!

LTC is shit. The only reason it was ever created was to make BTC mineable again. Now that we have an entire economy dedicated to altcoins, investing in LTC is a stupid decision.

How are you going long on LTC if you don't own any LTC?

I agree on LTC. I doubled my position on it.

Any price under $70. It's going to $300 in a month.

What? It's not gonna overtake ETH dude. It's only worth 25 now. Are we talking about the same coin?

Already have been. Buying in repeatedly every time it drops below 0.039. Maybe 0.0140 range

I've learned not to take big positions all in one go. It has resulted in missing out on lower dips and missed profits in the past. Now I buy several parcels over time. If it dips, I buy another parcel. If it dips again, i buy another. If it holds for an extended period, I buy another.
It means you might end up with a smaller position than your target if it breaks out early. It also means you don't get caught by an unexpected dump and can buy even lower to average down.

Due to the volatility of crypto, you only do this if you have an iron hand and don't mind seeing your position in the red for a while. I've been too early before and had to watch it sit -2 btc even before it breaks and end up +3btc.

Example: I opened a 700 LTC position @ 0.059 pre segwit activation. It was too much too early. It dumped hard during the DDOS polo shit. I had to hold and ended up selling @ 0.0210 but not before seeing the position near minus 3-4 btc and my margin account approaching maintenance.

The only reason to touch LTC is day-trading and cheeky scalps. Segwit hype is over and there's no reason for it to even retest 30 apart from general market bubbliness.

That's exactly what Im counting on and said as much in the OP. It's a short-term opportunity this weekend. Wish people would actually read.

Anyway it's just an option. I'm not telling people "You must do this now, to the moon, all aboard the rocket" blah blah. I'm just highlighting a potential play for the next 72 hours

So it's nothing to hold long term like eth/btc, but to just buy then sell when it dips? Was looking into going into since it's 'low'

$300 is definitely a stretch. But $50 is doable soon, then $75. I expect this shit to only go up since cuckbase took it on.

Oh I didn't really read it. The term "long" in trading is really misleading, but I get what you mean.

why are you all not on LTC short term? its going to pump to .016 soon then sit static before dropping. ez gains

Yeah Litecoin.

Expect $3000 by December.

I got me some LTC that I'm holding. Next 2-7 days is going to be a jump, then a dip for me to buy back in, and then another jump.

LTC compliments BTC and because BTC takes so long to process, some companies are actually thinking about accepting LTC for small orders. I think newegg for example is one of them

Isn't there something about LTC and BTC working simultaneously in parallel to solve the BTC congestion problem?

Litecoin is going to 0.018 in the mext 3 days. Im still holding my 0
012 long.

LTC is a big part of my portfolio...I bought more on the recent dip around $20. Not sure if I want to buy more at 27

>0.012 long

Nice user. I've only managed to get in @ 0.0139

Are you me?