Let's see the LakeBTC's graceful charts, during this period when drop $2 per rise $1
How do you keep the profit? If cant, how do you stop loss? please share your strategy with me, thanks!
https://i.imgur.com/ZkMo9ZC.pngI regulary buy small amounts of bitcoin to hold, but recently I also got an account on Kraken to get my feets wet in trading (mostly for fun, money I can afford to lose, no prior skills or experience).
I made a deposit of about $400 have been trading for 10 days.
So far I have made a profit of about $40, but that might just come down to pure luck, because I really don't have a well thought out strategy.
What I have been doing is to try to keep a balance of 50/50 fiat/btc give or take 25% so I always can buy or sell.
Then I trade when the price moves sideways, 5-10 bucks up and I sell, 5-10 bucks down and I buy.
I also check the price before I go to bed, and in the morning when I wake up I buy or sell depending on the price movement. Sometimes I also put a buy and/or a sell order before I go to bed to cut losses or collect profit and rebalance my btc/fiat ratio.