Bitcoin Forum

I know this is kind of gambling, but if you were to go at it how would you do it?

I would thinking of waiting for a obvious breakout pattern--fast price action upwards. And if I can catch it early then buy then sell at the buy price as a maker so I only lose the fees.

While sleeping I'll leave the order open and set a price alert on my phone to wake me up. Then Once the pattern stops  and reaches a horizontal phase I'll sell.

Then I'll devise a new plan from there, maybe the same thing repeat.

1- its 2020 not 1990 to use phone as allert on market moves (in 1990 broker was calling to you). Use automated market orders like stop-loss, stop-limint, order-cancel-order. You can use advanced merket orders to open position as well - f.e. you can set an order that will trigger after support breaks.

And yes ... trading the bubble is a gambling for inexperienced trader. Focus on money management too. Avoid going all-in all-out.

That is basically the concept of trading if you are talking about going "Long" in the market. However, the concept of buy low sell high is not easy as it sounds. Trading entails a lot factors and indicators that institutions taught us about how will the market behaves.

For me personally, there is nothing wrong about how you execute your trades as long as you have a target price and stop loss in mind just to avoid getting rekt and as much as possible making a profit. Do not also forget the importance of risk management.

That is not gambling because as long as you know what price to enter and quit and buy low and sell high, that will not be the same as gambling. Besides that, you will need to have a target price to buy and sell. If you can repeat the process and always analyze the market before doing something, you will profit. Although we can not always get the lowest price and the highest price to buy and sell, as long as we can profit, that will be enough.

That is the basic strategy and whichever is convenient to you, keep making that strategy working until you master it. We as traders have different styles and comfort zones.

The logic of buy low and sell high is always there but the timing will be different in our situations and any caught or uncaught situations. Also set a stop loss.

A technical way on doing active trades which cant really be absorbed by those people who did just  recently jumped in on trading field.
The way you do explain then its clear that you do know on how to do active trades yet mentioning price action isnt really something that
someone can able to perform or to be applied into their trades. Buy low Sell high is the main idea here but there are various
ways on how you gonna make yourself profitable.

It all depends on your strategy, At the moment, it would seem there are some resistance towards $30K which kind of makes it tricky, There could be a breakout or no breakout pattern for now. Which means buying right now is much more risky than waiting to see if there will be a breakout or not before executing a buy order. IMO, I would wait to see what happens to the price when it approaches $30K

Your way looks good to try because obviously, you know when to buy low and sell high, and you will have a chance to do that repeatedly.
But before you set to buy and sell, you need to analyze to find the entry point to buy and sell, so you can place your order buy or sell.
In your way, I do not think that is gambling because you know how to determine the price to buy or sell, and you can know how to find the pattern to enter the market.
If the market situations are not right to buy or sell, we better to stay calm while still analyzing to find more data to search for the right time to enter the market.

That is the best option as of this moment as this time to enter the market is very crucial even if we can say that we are not yet at the peak of the market because we will not know if when will be the correction of the market to happen. If we can hit the bottom of the correction then buy from there and sell it once it will hit our selling price then it will be better.

Right timing is what we need in order to execute this kind of tactic though most of us want to do it correctly as it can surely give us a profit if we can buy or rebuy at dip and sell it close to the top.

Predicting tops and bottoms is very difficult especially in Crypto. Just when you think you think you caught a bottom btc shoots higher and vice versa on the bottoms. It’s better too Use TA and trade within certain parameters. Take small positions that allow you to dollar cost average if things don’t go your way as many times it won’t.

In my opinion, short-term traders should always remember to have parts of their trading funds invested long-term just in case price "shoots higher" above their expectations.
 The longterm investment will likely comfort a trader and reduce regrets whenever price shoots up beyond his/her expectation.
I would continue buying the significant dips and never bother myself too much with a bull run because my long-term fund is still benefitting from it