After hitting $12,200, it wen't back to $11,500 same day. Fortunately I was able to unload some of my coins that I bought last July 30 only at $9,905. I am still hoping that this trend will continue as my strategy is to buy some and sell some. 2% to 3% profits per day is good enough for me, not waiting for the bull run.
this is a day trading strategy, and while it is good but it is only suitable for those who want to accumulate more fiat because in bitcoin, the price always goes up. so while you are trying to make these small profits from the short term fluctuations, at some point you will end up selling and waiting for the price to come back down to buy back but the price shoots up and you will have to buy at a loss (meaning buy less bitcoin that you could afford before). which is why it will only work if you mean to accumulate more fiat
But this is definitely not what day trading is about
Day trading is not about selling and buying after reaching a certain percentage of upward or downward price change. Most importantly, it is about riding the wave which means trying to sell at its peak and buy at its bottom. Indeed, you can't always time the market in this way, but if you make a mistake and misjudge the market, you buy back or sell forth immediately (the latter is also known as a stop-loss)
In other words, day trading done right is more complicated or even sophisticated than most people think of it. What you refer to as a day trading strategy here is correctly called averaging up or down, but that's not day trading (read, it is a different approach to making profits)
