My trading method on spot market with this year - page 2.

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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.

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.

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

~Snipped

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

I can't confirm your strategy to be bulletproof but what I can confirm is that in a crypto bull market, the concept of "buying dips" works because market will retrace after every dips. That's where higher highs and higher lows concept started from. Take Bitcoin for example, It went to $32K, then back to $28K, retraced to $35K and down to $31K. It's only in a bull run that this strategy is possible otherwise you risk losing more in a bear market with this strategy but good luck.

Those coins you mentioned are pretty old btw and don't move so much? Like XLM for example has heavily underperformed in this run-up.

BitMaxz

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Quote from: hugeblack on May 12, 2024, 03:58:35 AM

This will be difficult in the case of the short time, most of Altcoin, which occupies the lead now, was not present in 2017, and therefore all of FA and TA have very narrow dates and therefore cannot be relied upon for long-term trading as happens in DCA.

Yes, some altcoins are new that you didn't see in the past that is why I include fundamental and DYOR is to improve your long-term perspective not just technical.

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.

mr_random

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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.

hugeblack

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Quote from: BitMaxz on May 11, 2024, 03:04:36 PM

So before you do the DCA strategy make sure to analyze the altcoin on both FA and TA including BTC as your extra indicator and only buy when the price reaches an all-time low at the current month sample when the price of BTC touches $56k that's a good opportunity to do DCA at that level or 60k level because there is strong support at that level.

This will be difficult in the case of the short time, most of Altcoin, which occupies the lead now, was not present in 2017, and therefore all of FA and TA have very narrow dates and therefore cannot be relied upon for long-term trading as happens in DCA.

Quote from: Bureau on May 12, 2024, 03:30:58 AM

In a bear market it is very hard to make a profit in trading unless a trader is looking to hold unless he recovers all his loss and gain x percentage of profit.

Yes, it is very difficult to achieve a profit and it is difficult to ensure that there is a profit that will happen in the future, in both cases, in the descending market the risks are great and increase because you do not guarantee the long-term direction but in the emerging market the possibility of achieving higher profits.

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Quote from: hd49728 on May 12, 2024, 12:55:38 AM

Quote from: shinratensei_ on May 11, 2024, 07:39:23 PM

might work when market sentiment is rather bullish but when in bearish all the three coins might have massive price decrease so i think you should take that into account.

Even now, when the market already have some months of bullish which are helpful for altcoins to recover from their bottoms in 2022 and early 2023, if we use filters on coinmarketcap.com, for %down from ATH, we can see many altcoins still have more than - 50% from ATH or even -80% from ATH.

I do not think the strategy that OP mentioned would be effective in a bear market. A bull market is once a while scenario as of now the market is good to buy but if you take a position now and tomorrow again if the market takes another dip then you are at a loss. As OP said he keeps accumulating but when you take another position tomorrow and the day after the market recovers to a certain point there is zero guarantee that the previous two positions will be recovered. In a bear market it is very hard to make a profit in trading unless a trader is looking to hold unless he recovers all his loss and gain x percentage of profit.

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Quote from: shinratensei_ on May 11, 2024, 07:39:23 PM

might work when market sentiment is rather bullish but when in bearish all the three coins might have massive price decrease so i think you should take that into account.

Even now, when the market already have some months of bullish which are helpful for altcoins to recover from their bottoms in 2022 and early 2023, if we use filters on coinmarketcap.com, for %down from ATH, we can see many altcoins still have more than - 50% from ATH or even -80% from ATH.

This is not small loss but the pain is less than in bear market two years ago, when you can see those altcoins down -90% or -98% from ATHs.

With each market bull run, there will be new trends but when bear market comes, altcoins will step on same shit-loaded, loss-waited down ways similarly to previous bear markets.

shinratensei_

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might work when market sentiment is rather bullish but when in bearish all the three coins might have massive price decrease so i think you should take that into account.
the single point of failure is when the market sentiment goes worse and all the three coins got massive dumps but yeah it should work as of now, if you're flexible enough you gonna find out when to change the strategy anyway.

my strategy though is always the classic and rather proven way of making profit that is buying the dips and wait until the real bullrun comes just that it.
i've been profitting quite a lot ever since the bearish market ended so to say I have accumulated ever since we are in bearish and it always works wonder.
what it needs is just the patience to wait until the market get better also mental to go against the waves.

the only implication of investing this way is determining when the dipping is actually gonna bounce back in the future or if its just gonna dump further.

Cryptomultiplier

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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.

The only thing needed to be sure this methods works perfectly is a proof of work and result.
Once you have tried this method for a duration that may not be up to a year, let's say about 3-6months and you have been able to weigh how much income you earn as well as spend weekly to DCA, while other wants and desires becomes pending, am sure you would consider a rethink or improvise on this method to suit your standard of living and survival.

Besides the proof of work needed to okay this strategy, it sounds great to try out and am sure it would greatly benefit those who are single, who have no dependants or heavy responsibility, who earn daily or weekly, more than those who rely on a monthly salary structure to invest or trade with.

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

...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.

It is a strange strategy to make DCA purchases, so that after there are no more free funds left to continue purchases, sell one coin and fix a loss. You need to reconsider your plan and redistribute your available funds so that you can buy coins if their price drops by up to 50%.

senyorito123

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Spot market is awesome, much better if we hold our asset and wait for the best time to sell now. Also monitor for everyday update of the asset community, there's a possibility of rug pull particular with altcoins.
There's always no assurance with altcoins, that's always dependent with the hype of each market.
If you suddenly observed a highest spike, then probably that's your biggest chance to initiate selling and dumping your alts to take profit quickly.
Divert with trusted coins like eth or bitcoin, because they're the mos secured in the cryptocurrency market.

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

And then i'll keep doing DCA buying every day 10$-20$ for each coin.

That sounds a plan but isn't this kind of DCA is going to be costly for you because of the fees that you'll be charged when you do it on a daily basis?

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.

Just as what the others are saying, do not time the market. Yes, we've got some plans but whenever you are in a position of being profitable, you take what you have to take.

That's how it goes so as you DCA into buying, you should DCA as well when you're in profit.

Adbitco

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I don't actually think what you explained here can give you something meaning within space you just narrated it maybe it's a better ways for you but to me it seems like someone who is wasting resources, it would be better you do DCA with Bitcoin instead of altcoin since it quickly rise above other altcoin so, bitcoin is could be more preferable than any other coin there.

I know it's your choice of choosing coin but even if you must apply that technicality it should be you could find one of the valuable to hold to increase your profits even without you having to stress yourself to trade it, because to me it seems like you are indirectly feeding the market and those who are smarter than could keep making profits.

Now look at how market works, when market is disturbed the small investors panicked to sell and whales pack over your little coin into their holdings and when they manipulate the market again you jumped in and buy and after a little shake you give up again by so doing they are making huge profits so, it would be better you just buy bitcoin and hold for as long as you wanna hold it.

BitMaxz

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Actually, DCA only works in the coin you analyze well since most of us here know Bitcoin they would tell you that applying DCA on altcoin is risky but for me, only if you didn't analyze the coin in technical and fundamental its totally gamble without analysis even in Bitcoin actually we do not know if the price of Bitcoin would recover at $70k level it's actually forming a bearish trend and have strong support at $56k-$60k if this level broke I'm sure all altcoin you mention above will also drop more than the price of BTC because most of the altcoins are dominated with BTC.

So before you do the DCA strategy make sure to analyze the altcoin on both FA and TA including BTC as your extra indicator and only buy when the price reaches an all-time low at the current month sample when the price of BTC touches $56k that's a good opportunity to do DCA at that level or 60k level because there is strong support at that level.

Mansory22022

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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.

No i mean 350/3= about 116$ for each coin.
With this method 650$ left from 1000 $ that's enough for my cash reserves considering that i sell one coin If i run close to depleted of my cash resetvesrs.

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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?

Having never run this DCA method, does it work for them? Like some of them are successful but some are not, maybe this can be said to be quite balanced as long as they know which potential altcoins will rise more than 5x.

So I want to advise anyone to DCA in bitcoin even if it's $1000 for starters because this is one of the best long-term investments rather than altcoins which are full of risks in it, so I will not draw any conclusions because I know some altcoins will dump.

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Quote from: BlackBoss_ on May 11, 2024, 07:58:59 AM

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?

DCA with altcoins is very risky even they are top altcoins because top altcoins can be dead too.

Don't buy altcoins because they are top altcoins

DCA is best for Bitcoin in cryptocurrency market and I think it is good for Ethereum, the second biggest cryptocurrency too. With SOL, XLM, risk is high even with DCA strategy.

From that list, Bitcoin and Ethereum are the only ones that have maintained their position, and almost all altcoin have seen periods of peaks and troughs, and since DCA is a long-term strategy, I do not think it will be successful except with Bitcoin and Ethereum.

The amounts he wants to buy are not large, but it is a risk if cryptocurrencies are his only investment.

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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.

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.

Dunamisx

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As Husires already suggested, for every newbie, it is more important that they start with bitcoin for many reasons made convenient for them to avoid taking much risk on their investment, the use of DCA is more preferred to bitcoin because we could be able to afford making an investment with our convenience, then trade at the very best and desired time frame in which we think is more profitable and affordable by us.

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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?

DCA with altcoins is very risky even they are top altcoins because top altcoins can be dead too.

Don't buy altcoins because they are top altcoins

DCA is best for Bitcoin in cryptocurrency market and I think it is good for Ethereum, the second biggest cryptocurrency too. With SOL, XLM, risk is high even with DCA strategy.

Topic: My trading method on spot market with this year - page 2. (Read 392 times)