Bitcoin Forum

What are your favorite trading strategies? What has given you success and what has failed?

I've traded before with much failure, been getting back into it the past few weeks with fairly good success. Just wondering if people would like to share their successful strategies.

I've so far been just trying to buy a coin right before I think it'll rise up a little, looking to sell in minutes or hours for 10%. It's worked about 75% of the time, but the other 25% is when the coin just plummets soon after I buy it and I'm left holding the bag for days or who knows how long.

I'm starting to try out a couple other strategies, buying on crashes and buying small cap coins that spike regularly, but will have to wait to see how successful those strategies are.

Find the 'Exponential Moving Average' display on your exchange.  On Bittrex thats under 'Studies' -> 'Moving Average' and change 'Type' to 'Exponential'.

Only buy when it's under that line by a fair bit.  Only buy half as much as you're willing to spend, and be ready to buy more if it dips more.  Sell any time you can make a profit, but don't necessarily sell all of it, maybe the profit will improve.  Don't buy coins that have recently pumped.  Don't buy coins in a death spiral.  Do learn to identify trading bots and avoid the coins they trade on (IT'S A TRAP!).  Don't bother with low volume coins unless you don't mind waiting a long time for them to appreciate and you're 110% they're good bets.

I like to sell 90% of what I bought at about 115% of what I bought it at, then hold the remaining 10% of the coin for long term hodling and a little BTC on top for rainy days.  Setup your sells like this to be automatic so you don't miss quick spikey pumps.

So far my strategy has me up about 20%, but I've only been trading about a week and a half.  It's also gotten me 15 different kinds of coins I sit on and let appreciate.  I've gotten some free CURE, QWARK, MCO, GEO, SYS, MTL, FLO, ADT, MUSIC, XVG, SC, CFI, DASH, BAT, and VIA.  And my original stack of BTC is currently about 95% of what I started with.

Good luck!

cool greyworld good tip i haven't used that indicator yet. I'll look into it.

Why don't you just stick to Litecoin?

It is an altcoin as well, but it is a sure bet, so if the price goes down, you can just buy more. Why spend money on useless coins? If you feel bored and go for trading shitcoins specifically to get some adrenaline rush, that's a sure way to lose all your capital eventually. In that case, you'd better first find some interesting task (which won't leave you with losses and bags full of crap), and then start trading again (provided you still feel inclined to, of course)

Well here are a couple of strategies people on Reddit are trying:

This guy is doing aggressive day-trading and is documenting it all on the following subreddit:

https://www.reddit.com/r/CoinTrading/

And the following guy is doing a buy and hold strategy for alts:

https://www.reddit.com/r/BitcoinMarkets/comments/6wkk1u/buy_and_hodl_31_cryptocurrencies_for_365_days/

You should never hurry when you buy or sell and always buy when there are people crying around and don't invest more than you can afford to lose.

I agree, the explanation is simple and understandable. That's the number one rule I think in trading, because it is not at all times you are making profits from the coins you are trading and make sure to always diversify when you do trading.

For me it is:
1. Set a clear target level for taking profit and more importantly, a stop-loss level for cutting losses.
2. Generally only invest the money you can afford to lose so it doesn't hurt at the end  ;D
3. Most Altcoins lose their value over time. Follow the coin’s chart and identify low and stable periods. When the right time comes, accompanied by a good press release of the project, the pump will start and they will sell in profit.  :)