Topic: What is your trading strategy? - page 85. (Read 304648 times)

Theres a flaw though.

Once you find a new alt coin, how do you know its worth mining? most usually are pump and dump scenario lol.

and those pumps happend random times..

The above quoted method is the best to make good profit. Buy when the price is low and sell only after halving. Patience is much needed as halving happens only after 4years.

yes mine is pretty simple too,  buy when price is cheap enough and sell while price rises good price, and i am happy of this strategy, it is basic and it works, so i get lots of profit from it, you should try it too

My pro-trader buddy Skull traded when his cat winked at him... sounds nuts but he owns island now

my strategy is same as others, buy cheapest as possible and sell expensive, i always do this and i always get profit, if you will panic for example and will sell them for small price, you won't get profit at all, so keep my strategy and you will get profit

yes this is main rule for all crypto traders,  buy only when cheap and hold long as you can till good price rise, because if you will panic after first small price rise you won't get any profit, and if you'll keep your coins long enouhgt you will make huge profit

My trading strategy is very simple.I search for new altcoins,mine them and waiting for a high price to make profit.

yes mine is same, if i buy for 400$ each then i don't sell after first small fall and i don't panic like other new traders does,  i wait for larger price rise like 30$ atleast and i sell them, i see lots of new traders that sells their bitcoins after 10$ rise, that's really dumb

The best practice for an apprentice in the business of speculation would be to read the masters. No need to put the effort to discover America second time; it has already been discovered. But this may also lead the apprentice to read too much. So, telling what to read and what not is itself a skill. But before any reading, one has to keep in mind that although constant profits by trading is an achievable aim, money never comes from thin air. Building up the necessary skills for trading for living requires tears and ashes. Even most successful traders have blow their accounts in their way. Take Jesse Livermore as an example. Or take Richard Wyckoff, who is told to have waited for 16 years before actually trading, if my memory is correct. All in all, I suggest reading the classics, not drawing on so-called "market guru"s, and you will finally find your way if trading is something that fits your personality. I'm telling this because not everyone should trade; one should be able to in complete control over his or her emotions. "Hope" and "fear", for example, will be your two most fierce enemies. If you cannot overcome your hastiness to become "rich", you will most probably fail. And taking the control over those emotions and studying the works of the market masters, let me relieve you, will not take 16 years for you. Maybe 16 months. With all those said, I would suggest reading Schabacker's Technical Analysis and Stock Market Profits, and then re-reading it, and then re-reading it the third time before anything else.

but you can never be sure enough to make a trade in that case.

you just have to take a risk sometimes to be able to make any profit at all,

Yes that is good. But you must also trade when you are for sure that you can make some profit.
If you dont know that than it will be not smart to trade, because you can lose also some money and that will be not good.
Just be sure that you can earn money.

Buying low and selling after halving is not possible all the time. Only at times of steep fall buying can be done. If every selling is done only after halving. You need to wait for long years.

no that it's not a long term, real long term is around 2030, for every halving you can try to play the buy low sell high thing, and it may be successful

but it's not so easy to know at what point is the low and what point is the correct high

My trading strategy is
"buying in bull signal and sell after see bear signal"

if you see someone buying a lot shitcoin and the price still stable better to buying and waiting pump come.

most people cant really buy at a good price specfically, but can have a general sense before something is up.

esp with the whole halving situation people keep talking about, so anytime before then should be fine.

How long term is long term? I'm supposing that in the case bitcoin bubbles off in the halving this year you'll sell too right?

With enough patience long term holding will pay off significantly. It's well worth all the time you have waited. I am also a long term holder and I really don't mind waiting a few years to see a very high price. It's all profit I am thinking about.

But it may takes a lot of time for waiting for seeing the price high! This strategy may not work well.

The best thing that you must do is look if there are many people that use Bitcoin. If many people use Bitcoin than your chance will be higher to earn some with Bitcoin.
But you must make it first popular and more used. So you must first promote it, that is really important.