if you are talking about day trading on exchanges then here is some techniques
1. dont put all your funds on one order line. have your funds and think of them as 5-10 separate amounts. when you see a good price put one amount at the price, then the others scattered at different prices that will work out as profitable.
EG
if you have $590 dollars put $59 at the current price to buy and then the rest at lower buy prices with a $6-$12 gap (1%-2%)
Price:$586 order:$59(2% gap example)
Price:$574 order:$59(2% gap example)
Price:$562 order:$59(2% gap example)
when you have the 0.1btc put that 0.098btc at a sell price of 1-2% above the price you bought it at to get you the same $ back to do it again, while keeping the profit as btc..
Price:$598 order:0.098btc(2% profit example)
Price:$586 order:$0
Price:$574 order:$59 recieve: 0.102(2% gap example)
Price:$562 order:$59 recieve: 0.104(2% gap example)
if the price didnt go up. just leave that 0.098btc at the 1-2% above the buy price and concentrate on the other buy orders
if the price goes down then it will just take another $59(at $574) and turn it into 0.102 and put those amounts into a sell order at a profitable price
Price:$598 order:0.098btc receive $586(2%example)(this order would be 0.1 but put 0.98 order and keep the 0.002 as bitcoin)
Price:$586 order:0.098tc receive $574(2%example)(this order would be 0.102 but put 0.98 order and keep the 0.004 as bitcoin)
Price:$574 order:$0
Price:$562 order:$59
2. emphasis: do not throw everything in one order.. have bits of funds split up to allow you to play the drops and rises, never use the gamble mindset of "all-in on red"
3. when you bought some btc. dont let greed control you with a sell order at 10% above the buy price unless you have a few buy orders that have filled to spread the orders at profitable 1%-2% amounts to reach 10%
this is because if you put in the whole $590 to get 1 BTC and hoping to sell at $650 to get 10%, the price could stay at a $570-$600 area for 6 months and you would be sat twiddling your thumps doing nothing but waiting, crying that your funds are doing nothing for months.
playing with small amounts with just 1%-2% spread.. you can rinse and repeat the buys and sells a few times a day/week and when counting it all up after a few months. it will be more then 10% profitable
its much more achievable to get lots of little 1%'s often than to throw in a large amount and hoping it goes your way for larger sell price..
id rather take 10x 1% profit over a few weeks compared to 10% profit in maybe 6month
4. the reason i am using just 1btc/$590 as an example is because playing with amounts of $59 per order is a safer risk to play around and learn with until your confident, rather than throwing in mortgage amounts on single orders. so have a little play with small amounts until confident. and then invest however much you want to invest
5. emphasis however much you want to invest, split it into 5-10 amounts, again dont be silly throwing it all into one order
6. that said. dont put all of your funds into an exchange. only put in an amount you feel you can happily play with during the day. dont throw in an amount that is then locked for months. because day trading works best if you can withdraw funds being in profit short term. thus not risking a exchange hack/liquidation.
7. at each 'rinse and repeat' keep the proft to one side.
EG the 0.102 you got at $574. keep the 0.004 as bitcoin. sell 0.098 at $586 to get you enough to buy 0.1 again at $574 again, rinse and repeat
Price:$598 order:0.098btc receive $586(2%example)(this order would be 0.1 but put 0.98 order and keep the 0.002 as bitcoin)
Price:$586 order:0.098tc receive $574(2%example)(this order would be 0.102 but put 0.98 order and keep the 0.004 as bitcoin)
Price:$574 order:$0
Price:$562 order:$59
the aim is if you in the example eventually want more BTC. when you sell back to dollars you want to only be selling just enough btc to have an amount to buy the same thing over again(0.1btc per rinse).
some people would and could sell the 0.102 at $586 back to then have a buy order of 0.104 at $574 using the extra dollars profit.. but if you already have lots of dollars(due to other orders not hitting its best to start hoarding the profits as bitcoin)
8. as the bitcoin price moves you will start to gain a lump of dollar and a lump of bitcoin.. eventually having a somewhat equal amount of both to sell bitcoin on a high and buy bitcoin on a low. to keep orders active and profitable
9. now all that is said. no one can predict future prices and no one can guarantee predictable profits over predictable timelines. yes you can miss a good oppertunity if the price constantly moves in just one direction. so be careful and only risk what your confident to play with.
my tips are just how to help reduce risks of missing out on some oppertunities and keep orders active. but in no way is there ever going to be a fool proof method of guaranteeing profits
1. dont put all your funds on one order line. have your funds and think of them as 5-10 separate amounts. when you see a good price put one amount at the price, then the others scattered at different prices that will work out as profitable.
EG
if you have $590 dollars put $59 at the current price to buy and then the rest at lower buy prices with a $6-$12 gap (1%-2%)
Price:$586 order:$59(2% gap example)
Price:$574 order:$59(2% gap example)
Price:$562 order:$59(2% gap example)
when you have the 0.1btc put that 0.098btc at a sell price of 1-2% above the price you bought it at to get you the same $ back to do it again, while keeping the profit as btc..
Price:$598 order:0.098btc(2% profit example)
Price:$586 order:$0
Price:$574 order:$59 recieve: 0.102(2% gap example)
Price:$562 order:$59 recieve: 0.104(2% gap example)
if the price didnt go up. just leave that 0.098btc at the 1-2% above the buy price and concentrate on the other buy orders
if the price goes down then it will just take another $59(at $574) and turn it into 0.102 and put those amounts into a sell order at a profitable price
Price:$598 order:0.098btc receive $586(2%example)(this order would be 0.1 but put 0.98 order and keep the 0.002 as bitcoin)
Price:$586 order:0.098tc receive $574(2%example)(this order would be 0.102 but put 0.98 order and keep the 0.004 as bitcoin)
Price:$574 order:$0
Price:$562 order:$59
2. emphasis: do not throw everything in one order.. have bits of funds split up to allow you to play the drops and rises, never use the gamble mindset of "all-in on red"
3. when you bought some btc. dont let greed control you with a sell order at 10% above the buy price unless you have a few buy orders that have filled to spread the orders at profitable 1%-2% amounts to reach 10%
this is because if you put in the whole $590 to get 1 BTC and hoping to sell at $650 to get 10%, the price could stay at a $570-$600 area for 6 months and you would be sat twiddling your thumps doing nothing but waiting, crying that your funds are doing nothing for months.
playing with small amounts with just 1%-2% spread.. you can rinse and repeat the buys and sells a few times a day/week and when counting it all up after a few months. it will be more then 10% profitable
its much more achievable to get lots of little 1%'s often than to throw in a large amount and hoping it goes your way for larger sell price..
id rather take 10x 1% profit over a few weeks compared to 10% profit in maybe 6month
4. the reason i am using just 1btc/$590 as an example is because playing with amounts of $59 per order is a safer risk to play around and learn with until your confident, rather than throwing in mortgage amounts on single orders. so have a little play with small amounts until confident. and then invest however much you want to invest
5. emphasis however much you want to invest, split it into 5-10 amounts, again dont be silly throwing it all into one order
6. that said. dont put all of your funds into an exchange. only put in an amount you feel you can happily play with during the day. dont throw in an amount that is then locked for months. because day trading works best if you can withdraw funds being in profit short term. thus not risking a exchange hack/liquidation.
7. at each 'rinse and repeat' keep the proft to one side.
EG the 0.102 you got at $574. keep the 0.004 as bitcoin. sell 0.098 at $586 to get you enough to buy 0.1 again at $574 again, rinse and repeat
Price:$598 order:0.098btc receive $586(2%example)(this order would be 0.1 but put 0.98 order and keep the 0.002 as bitcoin)
Price:$586 order:0.098tc receive $574(2%example)(this order would be 0.102 but put 0.98 order and keep the 0.004 as bitcoin)
Price:$574 order:$0
Price:$562 order:$59
the aim is if you in the example eventually want more BTC. when you sell back to dollars you want to only be selling just enough btc to have an amount to buy the same thing over again(0.1btc per rinse).
some people would and could sell the 0.102 at $586 back to then have a buy order of 0.104 at $574 using the extra dollars profit.. but if you already have lots of dollars(due to other orders not hitting its best to start hoarding the profits as bitcoin)
8. as the bitcoin price moves you will start to gain a lump of dollar and a lump of bitcoin.. eventually having a somewhat equal amount of both to sell bitcoin on a high and buy bitcoin on a low. to keep orders active and profitable
9. now all that is said. no one can predict future prices and no one can guarantee predictable profits over predictable timelines. yes you can miss a good oppertunity if the price constantly moves in just one direction. so be careful and only risk what your confident to play with.
my tips are just how to help reduce risks of missing out on some oppertunities and keep orders active. but in no way is there ever going to be a fool proof method of guaranteeing profits
Wow, superb! I love this strategy and it fits my risk tolerance. I am not greedy and I tried to keep reminding myself to not to when I am in the situation of earning especially in gambling. Now, I have just made my first trade yesterday and I am doing it again today. The reason I trade yesterday was I was exchanging bitcoin to certain crypto currency to deposit and play in one of the online gambling sites. But yes, with that first trade (I was having exchanges with doge but no big profit at all) I finally fall in love with trading.
So much more now that I have just read the post of Franky1. I have some low bankroll and I will try to execute the strategy of dividing into 10 and do the 1%-2% profit strategy of Franky1.
Again, thank you so much and you made complicated trading seems easy and cool to me and I believe to others as well
i like this strategy and i will trying to use with my funds and maybe i will make combining with my strategy because i don't use any exact strategy, its just only using my feeling on how much it will go down and how much it will go up. i am using my strategy because i only see on the market conditions and situations and then i can decide how much i want to buy or to sell.
i need your permission to save it into my notepad, learn it and use it and combining for good purpose. thank you for this good strategy.