We can call this scalping because when you buy and wait for the smallest opportunity to sell to secure profits is scalping but most times it's good to carry out this type of trading if someone can't hold for long.
Scalping means you buy and sell a coin or open and close a position within minutes. It is a very risky type of trading.
What the OP explained is different. It is called averaging. It is one of the good ways a trader can make money. But the time to make each average is very important. If done wrongly, it may later still lead to lose or opening of the position for a long time.
Scalping are for hurry traders while averaging are for patient traders.
It's dollar cost averaging but i don't check often when i entry i'll just entry with 1% and keep buying with 1% until i see price is good enough to take profit or i'll buy everyday with 1%-2% until i have about 30% my USD in coin.
so once 30% in coin i start to plan when to take profit.
I don't watch very often the market If i just entry on coin few days i'll just buying it.
I do this with 10k $ so i buy with 1%-2% daily until i reach to 30% that's 3000$ in coin and 7000$ in cash USD then i start to be very careful and i watch a lot to plan to cash out and sell the coin.
Something like this what i do ....it's not exacly the dca and it's not scalping it's something different wich i been working out myself after many years of trading all kind of ways.
We can call this scalping because when you buy and wait for the smallest opportunity to sell to secure profits is scalping but most times it's good to carry out this type of trading if someone can't hold for long.
Scalping means you buy and sell a coin or open and close a position within minutes. It is a very risky type of trading.
What the OP explained is different. It is called averaging. It is one of the good ways a trader can make money. But the time to make each average is very important. If done wrongly, it may later still lead to lose or opening of the position for a long time.
Scalping are for hurry traders while averaging are for patient traders.
I see, thanks for the inputs. Most times what keeps me going is scalping I have involved myself mostly with that and is cool on me I hardly lose. Just take for example of the bitcoin price dropped down to 50k plus I entered and waiting a bit to take profits at 62k this is a sharp entry and profiting and I can't even imagine having such quick take from the market. That was why I called it scalping but however I truly appreciate for the inputs.
I do scalping not very often but when i do it then i use futures leverage short scalping. I don't scalp long or spot Market only short scalping.
Im looking for coins with high overbought RSI like over 90% so then i carefully open short position.
