Buy low, sell high (not day trading obv.)
And then I look at the alternate cryptocurrencies section to see what Altoin may or may not get pumped next, and decide if I want to risk or not.
That is a quite simple, easy and working strategy for trading i guess, even day traders follow that thing, they buy coins and wait at the end of the day to see if the price increases or not, and then they sell them if the price increases and if it doesn't then they may hold them for the next day.
This is actually the best strategy for earning more bitcoins.
. It's just speculation. You're buying an asset and hoping it will go up without any real indication that it will. "Buy low sell high" is generic, worthless advice. It's like going to a gambling casino and saying "the key to profiting at blackjack is drawing a 21." It's worthless, self-evident advice. Knowing what you have to do to profit is not the same as having the ability to do it. In either case, your ability to "win" is completely outside of your control. That's why it's not investing.
Typically, professional day traders and scalpers don't follow "that thing". Without getting too technical (and there are in fact many different techniques), their strategy hinges on riding the trend ("trend is your friend"). Statistically, the price has more chances to continue rising once it has started rising (the same refers to falling prices as well), and if you place your stop-losses wisely (which is a must for day-trading), you can scalp more profits than incur losses, and thereby book net profits more often than losses at the end of the day. Obviously, you can ride the trend on the way down as easily as on the way up...
Though things get more intricate when the price is trading sideways and there is no clear-cut trend
Yes, momentum trading. I'm familiar with it, although I don't employ it myself. My investing time frame is far longer than day traders, so I don't have any interest in it for myself. But also, the investments I make are in businesses that create profits, not in an asset that is speculative. The price appreciation I gain is therefore tied directly to the underlying business becoming more profitable, which drives the stock price higher. A technical approach also could work for bitcoin, I have no doubt, but it's still on a speculative asset, and also, I don't see anyone ever talking about technical analysis on these boards. It's always very general and unsophisticated predictions on what the price would do, and then they want to call that "investing" when it's far more gambling than not.
