Topic: Can I start scalping with a 500$? - page 5. (Read 1246 times)

Scalping is really not easy as you really have to make the right decision on what to invest first, more specifically here which alt coin to invest in, and the problem with altcoins is that they really move too slow and sometimes they just go down, so even if you buy a big share of a coin to scalpe it you still won't make a fair amount of profit not 2% per day and not within 2 months at least no at the state the market is at  right now, if you are going for a longer term you might be able to pull it off.

You can spend $ 500 for XRP and within two months you. With the current market, I think there is no guarantee for you with a fixed profit of 2% per day. The market always has fixed risks and profits depending on the growth of Altcoin that you choose. Do not put too much hope into this market.

Did you know how to scalp trade? If your answer is yes then you don't really need much to start. The large capital is to help you increase your profits par trade and the reverse is also very possible. Making 2% par day in trading bitcoin or altcoins is very possible but of a truth very risky! Remember that you can have your entire funds wipe out if you did not know how to place stop loss and take profits.

One time I like scalping, but scalping will spend your time in front of the monitor screen 
you must focus on seeing each movement
the simplest way is to use Bollinger bands, MACD and RSI indicators. Time frame 5-15m

I use MACD and RSI only when first entry and closing a trade, playing safe between the RSI 30-70,
if the RSI is above 80 there will be Over Bought, and I decide to end my trade

But just focus on Bollinger Bands
Enter when the candle touches the bottom line on the Bollinger bands and sells touching the middle line or the upper line, don't miss this moment

One time I have posted about scalping (on my local board)

Trading strategies are usually crafted by each individual. Whenever a successful trader teaches other traders how to trade using their strategy, the traders always end up with their own versions of the original strategy. So each trader builds off of another traders strategy to fit their own style. It takes work.

If you have been trading for one year already then you should be in a better position than you are now, but that is okay. You should up your game. Take it more seriously. Put in more hours. Ask more questions. Be patient. Be persistent. Practice practice practice. Treat it like a business.

People who trade money they can not afford to lose, often lose at trading, and that happens with experienced traders too. People who rely upon trading as their only source of income, often lose at trading. Never trade more than you can afford to lose. I like your dollar amount of $500. That is a safe and effective account balance for learning the ropes.

I hurts a lot to lose money like that but loses can be converted into potent learning opportunities. I was taught that whenever I lose 15% or more of my account balance to stop trading for one full week, and during that one week break go back to review any past mistakes. Really look at and identify mistakes and learn from those mistakes.

I have pro account on it.
which indicators you use?

- I'm asking for a strategy

- one year for now

- my savings

- of course I lost 50% of my investment before.

$500 is a good start. you might not be able to do it every tiny dive and spike of the price. you have to look at the chart and analyze at which price shall BTC dip again and make sure you buy back when it starts coming up again. sign up at tradingview coz i think that should help you with the necessary indicators.

For 2% profit per day, in my opinion it makes sense, but all that also depends on the volume of the market, if the volume is high I think the 2% profit is easy

which indicators can I use?

This is very helpful , thank you friend.
I'm testing it now

I only analyzed the movements of the coins there I learned them. I tend to choose a coin that moves and has a large enough volume. my target is 5-10% even though it's hard for me to assume this is a fun process.

What are more details about the original posters strategy?

How long have you been trading now?

What kind of funds did you start with and what is your current balance?

Have you had any days when you lost money yet?

If you try as much as possible not to leverage your trade, I think you can easily achieve 2% with bitcoin scalping a day and you could even achieve that target at once in a day without scalping, because for some days now, bitcoin value has been shooting more than 6% sometime in a day, but in a normal stable market, you should be able to get that.

For trading platform, please I will advise you to stick with binance for now, I have nothing to gain asking you to do this, but with an honest mind so you don’t lose your money, stay with this exchange, its reliable and the most popular exchange of them all and you wont regret it.

Maybe look for high volume coin and see it is pumped and dumped a lot or not. In scalping especially if you want to look daily profit, you must get coin that not really stable and take any chance from it as soon as possible.

Certainly agree with you that scalping is very risky especially for newbie in trading. I'm assuming that the one who started this thread is a newbie based on his question. Scalping is based on charts and more technical analysis which is for experienced traders. Better to start with simple trading. Doubling your money is a possibility also with the current bullish period. You just need to choose a strong coin.

Nice, scalping is not easy to be done as the market volatility is really affects each position to take, if you are good in observing how the market will behave then there's a big opportunities to earned decent amount.

The amount of your initial investment is good enough for testing periods for this ventures that you'll going to take, focus and keep analysing every time.

I think that's enough. like me, I have a small capital and still have the spirit to trade in latoken. I trade fuel / eth, I use scalping techniques. so far I'm happy.

yes I mean scalping in 5 min. ever 1 min. frames 

I think the idea on this is more of holding (as opposed to day trading) just waiting for the coin to make a move to the "moon" which is likely to happen when bitcoin can go full blast in the next few weeks (or to the $10,000 level and beyond). Litecoin can easily absorb influence from Bitcoin that is for sure while with BNB I think it has a life of its own...possibly growing up to $50 within June. Of course, all of what we are saying here means we are just speculating so we still have to carefully study before jumping into the hot waters.