My trading method on spot market with this year

wiss19

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Quote from: hd49728 on May 22, 2024, 10:03:03 PM

Quote from: justdimin on May 20, 2024, 06:12:31 AM

Yeah, you could turn a trade into a DCA as well. Lets say that you bought something and you want to sell it as quickly as possible when it goes up, however the price suddenly went low instead of going up, that means that you are not going to end up with anything better, because it would be a loss if you sell. In this situation some people just end up buying more, to make sure that it goes well.

Assume you use DCA for Bitcoin, I agree that DCA is good for your portfolio with a big condition that you DCA with your money, not from any loan or don't use any leverages. DCA only with Spot market and your own money, then a next big step is withdraw your coin and store it in your non custodial wallet.

Don't store it on exchanges because you use exchanges to DCA in. They can freeze your accounts, their exchanges can bankrupt and many risks you can not control. Be your own bank with non custodial wallet.

DCA is not all-in, so why not? But even if its all-in, we still can pay the loan that we take before their due, as long as we are willing to do so. It can be a tactic, same to those business owners outside who also borrow money and use it to widen/expand their business.

If we are only an investor, it is safe to use non-custodial wallets most of the times but traders may need to store a permanent fund inside an exchanger because this is where they can trade continuously. Not all alts are bad, and I already saw a lot of people who does a DCA with them. We must only monitor our assets or portfolio from time to time so that we can act quickly once we see an anomaly on them.

Questat

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Quote from: Mansory22022 on May 11, 2024, 04:10:53 AM

I allocate 35% for this and i choose 3 decent altcoins.
Sol,xlm,eth.
Then i wait crash days and i divide my 35% of my budget 1000$ for this so 350$ i'll distribute equally with 3 coins.
And then i'll keep doing DCA buying every day 10$-20$ for each coin.
When one of them might go up too much i'll sell off course to take out profit If they all go up too much i'll sell off course to take profit and continue the process i'll wait dip If no dip coming i take my total amount again wich might be little over 1000$ after selling with profit on second time and put exacly 35% in 3 coins again and rest of the funds i have enough cash reservers either USDT or USDC to keep doing DCA buying.
Off course If i keep buying DCA and i run out of cash reserves then i just sell one of the coins fully of all 3 and i'll allocate this funds for buying the next 2 coins with DCA until I see the market goes up and i sell with profit.
By the time by doing this and when bull market start i'll be in profit after one year 5x-10x possible.

I think it's bulletproof way to making gains over the few months.

Well, it is good for you but I don't buy such a strategy as I have my own choice of coins to trade.
But whatever the strategy we use, as long as it gives us a favor and earns more than the amount we lose, that is good. In fact, our target is to earn and whatever we do doesn't matter.

Trading strategies will also vary on the market situation and coin behavior. Adaptability toward the abrupt change of its course is somewhat necessary. That is why I don't follow other methods of trading, I discover my own style.

Phoenixtrader

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Quote from: Husires on May 11, 2024, 07:07:32 AM

I have not seen anyone try DCA with altcoins, and I do not know whether it was a successful strategy or not.
1000 dollars is a good amount for a beginner. If you could do DCA with Bitcoin, it would be better. Stellar has not reacted well in the past years, so what is the reason for you to invest in it?

I use the DCa method for alts. But to effect this, you need to have basic TA knowledge so you'll know the support zones etc.

hd49728

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Quote from: justdimin on May 20, 2024, 06:12:31 AM

Yeah, you could turn a trade into a DCA as well. Lets say that you bought something and you want to sell it as quickly as possible when it goes up, however the price suddenly went low instead of going up, that means that you are not going to end up with anything better, because it would be a loss if you sell. In this situation some people just end up buying more, to make sure that it goes well.

Assume you use DCA for Bitcoin, I agree that DCA is good for your portfolio with a big condition that you DCA with your money, not from any loan or don't use any leverages. DCA only with Spot market and your own money, then a next big step is withdraw your coin and store it in your non custodial wallet.

Don't store it on exchanges because you use exchanges to DCA in. They can freeze your accounts, their exchanges can bankrupt and many risks you can not control. Be your own bank with non custodial wallet.

Quote

I feel like that is not that bad and it looks like it would definitely be a good deal. This is of course not going to be easy, but if you keep DCA your way out of that position, it would be part of your trading strategy. That would be "sell if it goes up, dca if it goes down", which isn't really a new strategy at all.

If this practice applies with altcoins, it will be terrible. Because DCA with altcoins can make your loss bigger and bigger, then your portfolio value can drop to nearly $0.

Terra death spirals with $UST stable coin and $LUNA token is very big lesson for people who DCA with altcoins.

justdimin

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Quote from: Mansory22022 on May 11, 2024, 04:10:53 AM

By the time by doing this and when bull market start i'll be in profit after one year 5x-10x possible.

I think it's bulletproof way to making gains over the few months.

Yeah, you could turn a trade into a DCA as well. Lets say that you bought something and you want to sell it as quickly as possible when it goes up, however the price suddenly went low instead of going up, that means that you are not going to end up with anything better, because it would be a loss if you sell. In this situation some people just end up buying more, to make sure that it goes well.

I feel like that is not that bad and it looks like it would definitely be a good deal. This is of course not going to be easy, but if you keep DCA your way out of that position, it would be part of your trading strategy. That would be "sell if it goes up, dca if it goes down", which isn't really a new strategy at all.

Oshosondy

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Quote from: BitMaxz on May 12, 2024, 05:32:56 PM

DCA only works if you do it with FA and DYOR that is what investors do for long-term investments. You might be using fundamental analysis as a news aggregator for the short term?
FA is use for long term prediction not for short term I don't heard anyone use FA for short term maybe for bad news but it is just one of the FA components.

I was watching this thread since it was created by I forgot to post under it and not excited to post until I saw your post. FA which you meant as fundamental analysis is not necessary for DCA. You can begin DCA at anytime without any fundamental analysis. But if you check the yearly chart candle sticks using RSI and BB and you noticed that the price of the asset is significantly low, you can begin DCA. Fundamental analysis is good to enter the market as soon as possible or to leave the market based on what the news is all about.

MusaMohamed

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Quote from: benalexis12 on May 15, 2024, 10:37:08 AM

That's a bit strange, and I just saw that there is such an allocation of DCA every month that ranges from 1000$ for the three cryptos it does. It is not surprising that when the bull itself comes or bitcoin rallies together with altcoins, Op will make a lot of money.

I hope I also have that kind of allocation every month, unless he is a rich person, his salary is high, he is an employee, or he has a source of income. Good luck with what OP is doing.

DCA is an investment strategy and can be used by everyone, with any asset but an investor must identifies that asset is risky or safe to invest money in. By considering it as an investment asset, it requires a little bit long time of holding, so risk must be low enough to accept. Because if risk is high such as the altcoin can have rug pull or high inflation in tokenomics design, it is terrible to invest money in it, hold it for a long time.

DCA with altcoins is more considerable risky than DCA with Bitcoin, because they have more risk to lose value or even die, compares to Bitcoin.

If you DCA in bad top altcoins like Terra, and it has a death spiral event, DCA with it will only bring you from a small loss to bigger loss and nightmare at the end.

benalexis12

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Quote from: Husires on May 11, 2024, 07:07:32 AM

I have not seen anyone try DCA with altcoins, and I do not know whether it was a successful strategy or not.
1000 dollars is a good amount for a beginner. If you could do DCA with Bitcoin, it would be better. Stellar has not reacted well in the past years, so what is the reason for you to invest in it?

That's a bit strange, and I just saw that there is such an allocation of DCA every month that ranges from 1000$ for the three cryptos it does. It is not surprising that when the bull itself comes or bitcoin rallies together with altcoins, Op will make a lot of money.

I hope I also have that kind of allocation every month, unless he is a rich person, his salary is high, he is an employee, or he has a source of income. Good luck with what OP is doing.

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Quote from: batang_bitcoin on May 13, 2024, 08:32:07 AM

Quote from: Marvell1 on May 13, 2024, 05:21:57 AM

Investing in Altcoin is very risky so we need to consider and make appropriate choices. I just want to give OP my opinion and nothing else because it's his money and the final decision belongs to him.

Every investment is risky when you happen to invest but don't have any knowledge about it. That's why it's all set for everybody to invest with what you know. And before doing that, DYOR if you don't know what you are up to. There is nothing we can do when OP or anyone that has firmly decided to invest to the market and altcoins that they want to have, they can do whatever they want with the money that they will allot to their portfolio.

Of course, every investment has risk, including bitcoin, but if we are knowledgeable and take the time to research things ourselves before making a decision, we will be able to minimize the risk. Like OP chose 3 altcoins to invest in and I believe if he had researched thoroughly before investing he would not have chosen XLM because it looks like a dead project. Investing in it is too risky while the return will be insignificant, meaning it is not worth the trade-off. If it were me, I wouldn't invest in XLM and would choose another top altcoin or bitcoin.

jaberwock

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Quote from: mr_random on May 12, 2024, 08:08:05 AM

Well, while timing market lows is difficult, a pure DCA approach might not optimize gains, IMO. Maybe consider a blended strategy where you take advantage of dips, $1000 starting amount is not bad. Diversification is key, but explore even more assets beyond the initial three, from my perspective. Thoroughly research the fundamentals of each chosen asset and implement stop-loss measures for added risk management, you know everything is possible in this crazy market. Substantial gains are possible within the crypto market, it's crucial to maintain realistic expectations, diligent research and a well-thought-out plan are crucial for navigating this volatile market successfully.

I think DCA are mainly use for investing, while in trading timing the market not only in lows but also in highs are very important and yeah that it is hard at first but things are only going to be more manageable the more we exposed our selves into it.

A blended strategy can be fine as it can allow us to experience a different rhythm, however starting with $1k seems too much already for a not-so-rich trader. Indeed, everything is possible here and that can also mean that despite doing what we can, the results are still against us but we won't get shocked anymore since we expect it already and things won't be heavy if we learn on how to accept things.

Mansory22022

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Quote from: pawanjain on May 13, 2024, 12:30:26 PM

Quote from: Coin_trader on May 11, 2024, 08:28:45 AM

Quote from: Mansory22022 on May 11, 2024, 04:10:53 AM

I allocate 35% for this and i choose 3 decent altcoins.
Sol,xlm,eth.
Then i wait crash days and i divide my 35% of my budget 1000$ for this so 350$ i'll distribute equally with 3 coins.
And then i'll keep doing DCA buying every day 10$-20$ for each coin.
When one of them might go up too much i'll sell off course to take out profit If they all go up too much i'll sell off course to take profit and continue the process i'll wait dip If no dip coming i take my total amount again wich might be little over 1000$ after selling with profit on second time and put exacly 35% in 3 coins again and rest of the funds i have enough cash reservers either USDT or USDC to keep doing DCA buying.
Off course If i keep buying DCA and i run out of cash reserves then i just sell one of the coins fully of all 3 and i'll allocate this funds for buying the next 2 coins with DCA until I see the market goes up and i sell with profit.
By the time by doing this and when bull market start i'll be in profit after one year 5x-10x possible.

First of all, you should correct your math. 3x350$ is equals to 1050$ which is 50$ over your budget of 1000$. Also I don’t understand your strategy since how can you do DCA if you allocated already all your balance on one go by buying the 35% each on the coin that you choose? You didn’t mention what balance you will use for your DCA after your initial purchase using the 34% of your funds.

Quote

I think it's bulletproof way to making gains over the few months.

You simply do normal buy low and sell high. If this method is very simple to pull off without any risk of failure then everyone should be rich on trading. This is not a bulletproof unless you have a lot of time if ever your funds stuck on this altcoin when bear season come.

Yes, the strategy is very simple yet many traders fail to earn a decent amount of money using this strategy.
I guess what OP means is he has divided the amount of $1000 into a 3 buckets for the 3 altcoins mentioned.
He then uses $10 out of each bucket to buy the 3 altcoins respectively until he is in profit and then takes the profit.
I would just say that keep doing what you are doing until you are in profit and revamp your strategy if you make continuous losses.

I can only lose If i sell in loss but even If i do run out of cash with this method i have plenty of cash reserves and as i mentioned when i see market might dip more down and my cash reserves getting lower i sell right to fully all one of the altcoins of so that will realese a lot cash for me to continue with my DCA process.

Mansory22022

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Quote from: el kaka22 on May 13, 2024, 01:48:35 PM

Definitely not a bad method, not saying that it would be bad or good because it is beyond me to answer something like that, I am not some genius who would talk about others path, but I can say that it looks good to me.

The only question would be which coins, because some of them do not look that great, specially xlm, I would have preferred something else probably, but once again I am not some big trading guy who made millions, so me saying that I wouldn't use xlm for this method doesn't mean anything because I could be wrong. I think it is clear that we are going to make some money from crypto if we trust making good amount of money and do not get out of our strategy, keep this up and I am sure you will make some money.

It's hard to predict wich ones moves most so that's why i have choosed 3 one of the main altcoins for this method.

el kaka22

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Definitely not a bad method, not saying that it would be bad or good because it is beyond me to answer something like that, I am not some genius who would talk about others path, but I can say that it looks good to me.

The only question would be which coins, because some of them do not look that great, specially xlm, I would have preferred something else probably, but once again I am not some big trading guy who made millions, so me saying that I wouldn't use xlm for this method doesn't mean anything because I could be wrong. I think it is clear that we are going to make some money from crypto if we trust making good amount of money and do not get out of our strategy, keep this up and I am sure you will make some money.

Lakai01

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Quote from: Coin_trader on May 11, 2024, 08:28:45 AM

You simply do normal buy low and sell high. If this method is very simple to pull off without any risk of failure then everyone should be rich on trading. This is not a bulletproof unless you have a lot of time if ever your funds stuck on this altcoin when bear season come.

That made me laugh (and I sincerely hope you're not serious). That is of course the purpose of trading in general, but in reality - especially for newcomers - it looks like they buy expensive, lose their nerves and sell the coins at the bottom ... and then make the same mistakes again until the budget is used up.

If "buy low, sell high" were that simple, we'd probably all be rich here.

pawanjain

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Quote from: Coin_trader on May 11, 2024, 08:28:45 AM

Quote from: Mansory22022 on May 11, 2024, 04:10:53 AM

I allocate 35% for this and i choose 3 decent altcoins.
Sol,xlm,eth.
Then i wait crash days and i divide my 35% of my budget 1000$ for this so 350$ i'll distribute equally with 3 coins.
And then i'll keep doing DCA buying every day 10$-20$ for each coin.
When one of them might go up too much i'll sell off course to take out profit If they all go up too much i'll sell off course to take profit and continue the process i'll wait dip If no dip coming i take my total amount again wich might be little over 1000$ after selling with profit on second time and put exacly 35% in 3 coins again and rest of the funds i have enough cash reservers either USDT or USDC to keep doing DCA buying.
Off course If i keep buying DCA and i run out of cash reserves then i just sell one of the coins fully of all 3 and i'll allocate this funds for buying the next 2 coins with DCA until I see the market goes up and i sell with profit.
By the time by doing this and when bull market start i'll be in profit after one year 5x-10x possible.

First of all, you should correct your math. 3x350$ is equals to 1050$ which is 50$ over your budget of 1000$. Also I don’t understand your strategy since how can you do DCA if you allocated already all your balance on one go by buying the 35% each on the coin that you choose? You didn’t mention what balance you will use for your DCA after your initial purchase using the 34% of your funds.

Quote

I think it's bulletproof way to making gains over the few months.

You simply do normal buy low and sell high. If this method is very simple to pull off without any risk of failure then everyone should be rich on trading. This is not a bulletproof unless you have a lot of time if ever your funds stuck on this altcoin when bear season come.

Yes, the strategy is very simple yet many traders fail to earn a decent amount of money using this strategy.
I guess what OP means is he has divided the amount of $1000 into a 3 buckets for the 3 altcoins mentioned.
He then uses $10 out of each bucket to buy the 3 altcoins respectively until he is in profit and then takes the profit.
I would just say that keep doing what you are doing until you are in profit and revamp your strategy if you make continuous losses.

dansus021

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Everyone has their own trading strategy when I saw your strategy is actually quite good to keep DCA with an amount of 10-20 USD. I actually test my spot trading strategy and then currently it still bring me floating loss around 35% Cry

My strategy is I buy a coin/token with 60-70% balance and then when the coin is down around 15-30% I buy more with the rest of the balance but currently is still down 30% so my strategy maybe need a revision

batang_bitcoin

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Quote from: Marvell1 on May 13, 2024, 05:21:57 AM

Investing in Altcoin is very risky so we need to consider and make appropriate choices. I just want to give OP my opinion and nothing else because it's his money and the final decision belongs to him.

Every investment is risky when you happen to invest but don't have any knowledge about it. That's why it's all set for everybody to invest with what you know. And before doing that, DYOR if you don't know what you are up to. There is nothing we can do when OP or anyone that has firmly decided to invest to the market and altcoins that they want to have, they can do whatever they want with the money that they will allot to their portfolio.

death69

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Your plan sounds solid! Focusing on a few strong coins and using DCA is smart. SOL, XLM, and ETH have real potential. Waiting for dips to buy more is a great way to get in at good prices. And taking profits when they pump makes sense too. But let me ask you this: what if one of the coins doesn't dip again after a big rise? Will you still take profits on the others and buy back in? Or maybe let your winners ride? There's an argument that with truly promising projects, you're better off holding for the long haul.

Also, have you thought about the tax implications of all that selling and re-buying? In any case, I love that you've put real thought into this and have a clear strategy. That discipline will serve you well. If bitcoin and the market do what many of us expect over the next year, your plan could absolutely 5-10x your money, if not more.

benalexis12

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Quote from: Mansory22022 on May 11, 2024, 04:10:53 AM

I allocate 35% for this and i choose 3 decent altcoins.
Sol,xlm,eth.
Then i wait crash days and i divide my 35% of my budget 1000$ for this so 350$ i'll distribute equally with 3 coins.
And then i'll keep doing DCA buying every day 10$-20$ for each coin.
When one of them might go up too much i'll sell off course to take out profit If they all go up too much i'll sell off course to take profit and continue the process i'll wait dip If no dip coming i take my total amount again wich might be little over 1000$ after selling with profit on second time and put exacly 35% in 3 coins again and rest of the funds i have enough cash reservers either USDT or USDC to keep doing DCA buying.
Off course If i keep buying DCA and i run out of cash reserves then i just sell one of the coins fully of all 3 and i'll allocate this funds for buying the next 2 coins with DCA until I see the market goes up and i sell with profit.
By the time by doing this and when bull market start i'll be in profit after one year 5x-10x possible.

I think it's bulletproof way to making gains over the few months.

Let's just assume that you are able to dca 10$ every day to each of those, which will cost 30$ total in weekly 210$, and then in 1 month you can dca to those three for 840$ at the minimum amount. If I look at your choices of altcoins—the two there—I could say that something will be released when the bull run comes.

Are you an employee? or do you have business resources? because 210$ dca weekly is not a joke for community investors here in the crypto space. Unless you earn $3,000 monthly,. If you really do that and you have that kind of purchase, all I can say is that dca is good while bull run is not happening yet.

Marvell1

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Quote from: Strongkored on May 13, 2024, 12:44:22 AM

Quote from: Mansory22022 on May 11, 2024, 04:10:53 AM

I allocate 35% for this and i choose 3 decent altcoins.
Sol,xlm,eth.
Then i wait crash days and i divide my 35% of my budget 1000$ for this so 350$ i'll distribute equally with 3 coins.
And then i'll keep doing DCA buying every day 10$-20$ for each coin.

DCA on altcoins and every day?
I think altcoins are unsuitable for DCA and also doing it daily, will there be a significant enough price difference in one day? because usually people will do DCA weekly or monthly so daily is something new to me.
SOL and ETH look good choices but XLM/Stellar is no longer a coin whose movement is encouraging, this coin is slowly being replaced by other coins in terms of trading volume even I see rarely people consider it as a coin that will perform well during a bullish time, and $1000 is a big enough value for beginners and diversifying might avoid you from big losses although it does not rule out the possibility that the profit will also be reduced because one of the coins does not meet expectations.

Depending on one's investment strategy, I have no problem with the OP's daily DCA strategy but investing in altcoins is mostly about knowing how to choose the right coin. I was going to say this to the OP as well, solana and eth are two great options for this year's bull run. If it were me, I would bet more on Solana than ETH. But as for XLM, I think it is a dead coin and will no longer bring us profit, choosing it is really an unwise idea.

Investing in Altcoin is very risky so we need to consider and make appropriate choices. I just want to give OP my opinion and nothing else because it's his money and the final decision belongs to him.

Topic: My trading method on spot market with this year (Read 367 times)