Topic: My trading strategies - page 7. (Read 1354 times)

The strategy is very common in the crypto traders community but the top alts won't work like that with BTC pair. There are times when BTC is falling with respect to USDT but the alts/BTC pair won't be fluctuating. How you define a bear or bull market depends a lot. BTC fluctuation can sometimes be harder than ever to alts and they start bleeding red too much but sometimes it does not even affect a little.

Well, such strategy can work sometimes and it seems the OP have already proven that to be working on his favor. But the market movement is not always into that pattern that when the price of Bitcoin rises, the Altcoins do dump and vice versa. Maybe there might be times that such strategy will work out but not all the time. It will still be depending on the trader himself on how he will get along with the market to work against odds and make things work on his favor since we manageably work on how we can turn things into opportunity whether the state of the market is on a dump or pump side.

When your factor is on your favor, definitely you will get all of the strategy will be working for you. I believe this is what happening with OP. Because, I'm not seeing OP' strategy will be working on all the times because I have noticed both bitcoin and altcoins are moving sometimes in same direction and sometimes in different directions.

So, having this is as a strategy to make use of buying and selling bitcoin or altcoins may not be profitable in all times; probably it may work for some times and I believe only in those times OP had traded and found this strategy profitable

Even a pro trader can lose at times, but it's great to see that you have a trading strategy that actually works for you, so many traders lack this and that's why they end up with losses, filling your bag while the altcoins market is done is a really good strategy, just like now the whole crypto market is in red, buying some potential altcoins won't be that bad cause after the correction there's gonna be a pump, i'm not sure bitcoin turns bearish when altcoins pump, I think they both go together but altcoins dump more if bitcoin dumps a little.

I agree with everything you said, except with the last thing, liquidation! It's a matter of choice, some people decide to stack dollars, while some of us like to keep profit in more coins, that will not be liquidated anytime soon!
After all trading success depends on many factors, and most of them are individual, time for trading, capital, goals... everyone should get more familiar with the game, with the coins, to prepare some plan that will be suitable!
And in the end, I think most strategies will work if applied correctly and if they are not constantly abused!

It is nice to have your own strategy when it comes to trading and having a strategy will help you familiarize yourself in the game and be able to make much better well thought out decisions, and not just make wild guesses without any thinking and then all of a sudden be having issues with your investment that will surely affect your standing.  The most common technique of  them all in the trading book - Buy low, sell high, always worked for me in the past. Once you have accumulated sufficient coins then it is up to you to wait and decide when you will liquidate it.

But mostly when bitcoin increase , altcoins also follow. How can you handle such situation in trading? I think your strategy is just good for those who trade patiently or for long term but for short term trader it is not a good strategy.

And the chances are, the holder will sell their altcoins prematurely or waiting for the next bullish season. I find it difficult for impatient people since altcoins don't get easier to recover, unlike Bitcoin.

This strategy could really work for those who never think about quick returns and also those who just only use their extra money for trading. But if a person just relying on the profit that they can get from trading as the only source of income, that absolutely be a problem.

Yes, I think OP strategies will most likely work but not all altcoins and not all the time and not all the time the BTC and alts are opposite direction. It's more like BTC and alts have the same trend. Learning about the fundamentals then support with the TA will give you greater potential of winning in trading. I know someone that been doing that strategies and it worked. He's not also greedy and stick to his plan to sell when he gain 5% of every trades but need to be consistent.

Great advice there, OP.
Though I would like to ask on what "handful" of altcoins are you really looking into, like what top coins do you mostly trade BTC with? ETH? BNB?
Or to be at least precise, top 10?

Your trading strategies are great. It means you want to say that buy when everyone is selling and sell when everyone is buying. I am using RSI indicator for day trading. But find where is the opportunity for buying.

How on the Green Earth that worked man?

The scenario in 2020-2021 has changed completely mate. The correlation that you are saying no longer works. All the altcoins do follow the same pump as bitcoin do. I mean there is no inverse proportion now a days. If bitcoin is pumping then altcoins are also pumping at the same time.

Moreover there are many many altcoins who don't even rely on the bitcoin movement since they have created their own economic environment and they play within that boundary only.

It could be just your good luck or time when things turned profitable for you. But, you must recheck your strategies beforehand now.

The truth is that the cryptocurrency market moves in such a way that no one can grasp it. So no one strategy is perfect, everyone has their own strategy and a little bit of luck if they want to succeed.

Yes, just be yourself. Do anything and get things done in your own way and by your own decision. If that way you can make a profit, then go for it. With that said. Be grateful for what you have now. Because it is not certain that other people can do it like you, many of the traders and holders who try the same method but, there are those who actually experience losses. I agree, we have our own way to trade, not necessarily your way will be successful if it is used by other people, and not necessarily other people's ways can work for you. Find out what is your own way of making a profit. Of course, if you want to be successful in any way you have to know the basics. If someone immediately tries it without knowing anything about this method, then it will be very risky, because we don't know how the system works in this way, such as holding coins or trading coins. That's all it takes in the name of basic knowledge or skills so that you can understand what you are doing, how to make the right decisions, you will be able to solve them according to your own abilities.

Don't get hung up on one way to make a profit, if you can use another. Then it will be more profitable for you when your other way is not working well, or when you experience a loss. Maybe in some other way or method you can also make a bigger profit than what you are getting now. But don't forget your old ways. If both can be profitable it will be even better.

Simple strategy but will definitely work if you want to accumulate more bitcoin. You don't have to be an expert or pro for you to make the best out of you.

You only need to have the right time to sell and strategy wise as you increase bitcoin in your portfolio.

If this has worked for you then that is good but you are doing something else even if you do not realize it as you are being too vague with your strategy, I get what you are doing, when the bitcoin dominance is high you buy altcoins because you know an altcoin season is coming, and when it seems we have reached the limit of the movement and the bitcoin dominance is low then you buy bitcoin.

The strategy is clear enough but there are many moments in which bitcoin and altcoins seem to be move in unison and that is when it is really difficult to employ a strategy like that as it is not clear what it is what you should be doing at the time.

This is a simple strategy of recycling which is done where you are right by filling the bag when the price is down even though this technique is often used a lot if they are not too much towards their analytical technique.

I think where people really need in this, but they are always inaccurate and miss FOMO which makes them trapped so that I have to be careful, but rest assured if you have done it yearly it means you are comfortable with this strategy.

This is right and it has repeated itself again this bull find after it occurred in 2017 bull. Investors who were experienced back in 2017 got their bags filled too and dumped for profit later. Almost all coins have given profit this season too. I have followed two coins or even three or more, you can name them, tron now at 0.14 from when I started following at 0.05. Of course we have seen doge making a huge and outstanding move from 0.02 to above 0.40, Bgl have also done a price rally and dumpers too advance lol. Is a profiting investment to take advantage of bear and wait for bull.

When you are trading against the BTC value then you should ignore the profits in terms of USD or else you will make mistakes with your strategies. And its good to know that you had patience to take advantage of downtrend and uptrend on the crypto, so just keep doing what you have been doing.

That is good.
If you can do that, you can continue what you've done before because that can give you the profit.
I am sure that is what other traders did and that is the best way for them to make a profit this year.
The next thing we need to do is rinse and repeat and try to make as much profit as we can before the time is over because when that is over, we will not be able to make a profit again.