Topic: What's your trading strategy? - page 4. (Read 800 times)

My strategy, for now, is just to adopt swing trading to minimize the risk that is associated with day trading. Day trading is much harder mos, especially for the newbie. 

I hodl some specific coins according to the development of their products and with about 1 - 10% I like to take a higher risk with leverage.

If you have been trading in the cryptocurrency market for many years, then you are a rather experienced trader and you can easily navigate the cryptocurrency market like a fish in water.  Of course I envy you kindly.  I’m just starting to learn how to trade and there’s practically nothing to say about my results. But the only thing I can say is that I become very motivated if I get a certain result from daily trading.  If I see that something is working out for me, then I always start to work with renewed vigor and with great zeal.  Although I also can’t understand what strategies traders can use, since the main rule is to sell more expensive and buy cheaper.  And the main task is to choose the right coin for trading, which during the day, with daily trading, fluctuates in price several times, giving a good percentage of profit.

I trade for years, but I don't have any special strategy! First trading is my hobby, second I don't trade every day, I don't have that much free time. I have fun when price makes some big move in either directions, when it drops hard I buy, after some time of bullish period I sell, bitcoin always recover! Sometimes it takes longer, but it happens, so I try to keep it simple. When I have time I like to have fun with day trading, but to be honest I don't make huge profit or loses, for me it's going better longing and waiting for some of my sell orders getting executed, and sometimes that happen in day or two and I make nice profit!

99% of the new projects are useless but when someone wants to find the remaining 1% of good projects and want to get maximum profits then they have to work for it which may needs lot of criteria to be researched of and trading volume is just a small part of it.

When you classify as random then it would be much better not to trade with them regardless of what are new criteria will be adding up. Most traders are just focusing on developing a stronger strategy but failing to choose the right asset to trade with. In my experience, strategy will be playing a minor role compared to what are the coins we are choosing to trade with. Because, you can easily find your strategies will be working fine on highly established coin rather than with a new coin.

Fake development team kind of things are easily made these days hence considering it is as a criteria to choose a coin for your trading purposes will lead to disasters.

But random tokens and coins have less chance to get recovered from the bear market so don't just follow this strategy all the time, better you add one more criteria like the market cap value of the token or coin is high and the development team behind the project is doing enough development to keep their investors holding it.

For me, i follow one of the simplest trading patterns. I highlight series of tokens, research about them, watch their indicators, follow the trend; then wait for a bear market to get in and buy the tokens; After which i place my sell order too depending on what the indicators shows.

Mostly do this with altcoin tokens on binance, kucoin and hydax.

The very most effective strategy with the current market situation is to buy and hold, with the pandemic resulting casualties outside the digital world stock market is declining and so the oil industry, the cryptocurrency market on the other hand has the resistance of the price from its decentralization core. Trading seems to be quite off these days but I, personally having a good gains trading in Binance. If there is one thing I need to point out with what I am seeing to a lot of traders today, that is the greed, most of them often running things within just a day having short temper and less patience on dealing to the market which causes them to lose more.

That must be very practical strategy every bitcoiner must need to follow. The only thing I have seen most people here are not having is, patience. Even they are well aware market fluctuations, they just want to try their luck which is most of the time ending up in negative results. Simply buying and holding bitcoin and few other coins definitely will get them big profits over the time but they do not having that much patience hence they all go for day trading.

If we realize that we cannot beat the market then we may never go for trading. We need to agree that making profit in trading is very much similar to beating the market. Market never allows anyone to beat it in easier manner. We need to work hard for beating. But, holding gets us to easier chances to beat the markets and its fluctuations .

One of my trading strategies is making investment while the market price of the coins is low and from the previous weeks the market price of the coins goes down and we called as a dip and by that it is good opportunity to make an investment while the market is low and one thing you should know when you are in trading go for what you can afford because most of the time people now are pushing their selves to make an investment. One of my basic strategy in trading is buying low and selling high because it is faster to make more earnings but take not I used the altcoins to make more profit because altcoins are one of the most volatile in the market and if I want to make more earnings for a long term bitcoin is good also find some application that is suitable for your needs for me I'm using the Binance and also the coinbase because they have good features for trading they always monitor the market price of the coins and also they aware their users with the help of notifications.

Agree 100% with you brother! You have to admit that you are a regular dude or dudette,,, and that we should not try to kid ourselves by thinking we are special and we can beat the market. We cannot. Just buy, save regularly and be patient, our day will come surely!

I tend to agree with this, day trading is very difficult to gain profit and aside from that, it is also a very high risk to manage. It's required for you to sharpen your mind when it comes technical analysis or any strategy you were use. Probably if you are expert in trading business job it is good to pursue in day trading and use trading tools like trading bot that might help you to watch the sell and buy point which isn't consume your whole time facing in front in your PC.

I prefer in long term trading maybe than day trading using my own strategy.

Agreed. Usually I look for several percent per trade, like 3-5% I think it my most common profit taking area, but if I'm getting worried about a drop I'll pull out at a percent or two.

Sometimes I'll try to do like a 10% trade but usually the price will move up and down in waves several times before it would end up hitting the sell order so I figure its better to try to ride those several-percent waves a few times instead of just waiting around. Basically I'd rather take decent money today than hope it keeps moving up for a big trade without moving down first.

Sometimes when I cancel that higher sell order it will like within a day or less shoot up to where my higher sell had been sitting haha (that happened today actually), but hey I made good profit selling lower and I'm making that daily income so it's all good. That's why I don't worry about missing out on most of a big move, because I'm just working the daily volatility. Riding daily volatility also helps to make me less likely to FOMO into a pump, because if the price pumps and most of my sell orders get hit I probably already made a bunch of money for the day, so I won't be too concerned about making a bunch more money that day and won't be getting risky trying to continue riding the pump hard to make a ton of money on it because that isn't what I'm looking for with this strategy.

So other than major crashes that get my trades stuck or force me to take a big loss I don't really care how the market is moving as long as it is moving. And of course I need to be practicing good risk management and striking a decent split between trading and patience...that is the hard part of trading!

Generally if I notice most of my money is in trades that's when I'll try to get out of a couple trades ASAP at a low 1% profit or something to mitigate the risk in case the market is about to drop.

Despite constantly making mistakes I find I can average almost 1% a day on my whole trading stash outside of major corrections. Still working on avoiding getting caught all in on huge market corrections like Black Thursday last month haha. I went from being $6k up for the year to $3k down for the year before I finally sold after the price rebounded to the $5000s. Today I just got back to $1k profit for the year after digging myself out of that $3k hole the past month ;P

I do more of day trading/ several day trading. I usually look for big moves at %5-%10 instead of day trading people who trade 5 minute candles. Although i am not a pro yet, any profit is good. If i could make %0.5 i would do it.

That's why you don't use a bot!

I wouldn't trust my trading to some bot. I get in and out of trades at usually 1-6% profit or so, of course only using a portion of my trading stash for any one trade. The most dangerous part is of course watching out for that big decline, which is why I said you gotta use some mid-term swing trading strategy at the more macro level to lighten your loads and be more risk averse when you think the market is reaching a resistance point and might correct downwards, though of course that is really just a guessing game but as in any trading strategy, risk management is the key. With good risk management riding that daily volatility can build up profits quick.

My method has been to buy using Bisq and hold.  I take 15% of my paycheques bi-weekly.  Never sell!

Small movements are never consistent which is why people are going for that bigger movement most of the time. Sure you could make 1% profits in many days but there is the fact that you may not be able to do that as well.

There are very very simple bots that literally buys bitcoin and sells at 1% profit and does that constantly, sometimes it buys and actually does sell when it has 1% profit and that is great, however there are times when it buys and bitcoin drops so it has to wait a long time before it can make a profit 1% again, remember this bot only does one thing and that is sell at 1% profit and if it goes down 40% that means it will still wait until it makes 1% profit. If that strategy was a good one, believe me everyone would use those bots and become rich.

At an early stage of learning about cryptocurrency, I chose a hold for myself. It was a simple solution that did not require special knowledge about trading. As a result, I received large losses from the altcoin hold after 2018. After that, I changed my strategy and started trading.

Holding is my successful trading strategy so far in this crypto space. I have tried daytrading and scalping but both were not profitable even I have subscribed to some paid signal services (by not having confident on my own research and analysis). Simply focusing on bitcoin and few other highly reputed altcoins and holding them for months to years, you can beat all the required knowledge and experience for making profits in trading.

Yes, you do not need any strategy like big knowledge and experience for making profits in this crypto space when you are opting for holding for years but only with highly reputed assets (means not with random coins)