Need valuable comments on this trading strategy - Would be grateful

[syedspec]

Hello there!  I have been holding BTC and Altcoins for a long time but want to venture into a bit of trading as well. Can you please help me in evaluating the following trading strategy:

1. Given that most coins (even with high volume) have at least a 5% volatility on a daily basis, I intend to buy on a predictably consistent low point in a 24 hour period.
2. Then sell at a 3% rise the same day using Sell Limits.
3. Never intend to go beyond 3%, even if the price rises by 50% eventually.
4. Reinvest the entire proceedings the next day, again waiting for the 3% rise.
5. Rinse and repeat

How feasible do you think this is and has anyone tried this so far? I look forward to your valuable insight. Thanks

[Slow death]

I'm sorry, maybe I'm spamming your thread but it's not my intention.

If you discovered a chemical formula that allowed you to turn stone into gold, would you say that to everyone in the world?

You know that to extract gold is not easy and lots of billionaires are eyeing the gold, surely if you open your mouth more than you should (in case tell everyone about your chemical formula) you would die the same day.

This applies to the question you asked, are many people making trade, why the hell would someone tell you their trading strategy?

Test your strategy with a small amount and see the results and decide for yourself which path you want to take.

[stomachgrowls]

Hello there!  I have been holding BTC and Altcoins for a long time but want to venture into a bit of trading as well. Can you please help me in evaluating the following trading strategy:

1. Given that most coins (even with high volume) have at least a 5% volatility on a daily basis, I intend to buy on a predictably consistent low point in a 24 hour period.
2. Then sell at a 3% rise the same day using Sell Limits.
3. Never intend to go beyond 3%, even if the price rises by 50% eventually.
4. Reinvest the entire proceedings the next day, again waiting for the 3% rise.
5. Rinse and repeat

How feasible do you think this is and has anyone tried this so far? I look forward to your valuable insight. Thanks

All i can say with this strategy this is most likely a trading way for active day trader on which you would really actively see prices moves everytime. 5% a days seems very too high to consider unless if you are pertaining or preferring on all the coins you traded. Its possible but theres no assurance. Short trader is somehow stressful specially if you arent too familiar on how market works. Experience is a must on this kind of trading.

[Kevondo]

I'm sorry, maybe I'm spamming your thread but it's not my intention.

If you discovered a chemical formula that allowed you to turn stone into gold, would you say that to everyone in the world?

You know that to extract gold is not easy and lots of billionaires are eyeing the gold, surely if you open your mouth more than you should (in case tell everyone about your chemical formula) you would die the same day.

This applies to the question you asked, are many people making trade, why the hell would someone tell you their trading strategy?

Test your strategy with a small amount and see the results and decide for yourself which path you want to take.

Now here I think I have just read the silliest opinion given by someone. The thing is that in trading you need to make the best strategy you can and it can’t be done by a single person. Testing is a major thing without testing nothing can be believed. Make you strategy, test it, start trading if it seems working. Start with less amount. Try to gain some experience and then go for a high level trading. It will take time but at the end everything will be better.

[iram1011]

Hello there!  I have been holding BTC and Altcoins for a long time but want to venture into a bit of trading as well. Can you please help me in evaluating the following trading strategy:

1. Given that most coins (even with high volume) have at least a 5% volatility on a daily basis, I intend to buy on a predictably consistent low point in a 24 hour period.
2. Then sell at a 3% rise the same day using Sell Limits.
3. Never intend to go beyond 3%, even if the price rises by 50% eventually.
4. Reinvest the entire proceedings the next day, again waiting for the 3% rise.
5. Rinse and repeat

How feasible do you think this is and has anyone tried this so far? I look forward to your valuable insight. Thanks

This is what actually people do in day trading. This is a good way to trade. But this is a time consuming technique and never rely on one coin. Divide your investment in various coins. Because there is a high chance that the coin you invested in never recovers and your 3%+ sell order remains as it is.

[YTBitcoin]

Hello there!  I have been holding BTC and Altcoins for a long time but want to venture into a bit of trading as well. Can you please help me in evaluating the following trading strategy:

1. Given that most coins (even with high volume) have at least a 5% volatility on a daily basis, I intend to buy on a predictably consistent low point in a 24 hour period.
2. Then sell at a 3% rise the same day using Sell Limits.
3. Never intend to go beyond 3%, even if the price rises by 50% eventually.
4. Reinvest the entire proceedings the next day, again waiting for the 3% rise.
5. Rinse and repeat

How feasible do you think this is and has anyone tried this so far? I look forward to your valuable insight. Thanks

This is what actually people do in day trading. This is a good way to trade. But this is a time consuming technique and never rely on one coin. Divide your investment in various coins. Because there is a high chance that the coin you invested in never recovers and your 3%+ sell order remains as it is.

And you stool my strategy lol. Well bro this is a really good strategy, we will never know what is coming next, whether it is good or bad. Using different kinds of coins is really useful if you see that market is nor supporting any one coin then start trading in the other one this will decrease the rate or loss to 10-20%. I also deal in 4 different coin and this the reason why I started using different coins.

[conspirosphere.tk]

This is what actually people do in day trading. This is a good way to trade. But this is a time consuming technique and never rely on one coin. Divide your investment in various coins. Because there is a high chance that the coin you invested in never recovers and your 3%+ sell order remains as it is.

Yes, you can try manually first, and if it works with the help of a bot later.
IMHO when you pick some winners, dumping them at 3% gain is way too little, and when you pick losers you have to choose between getting stuck bagholding or eat the loss by dumping them a.s.a.p. My personal preference is to stay with a couple of longstanding coins and occasionally play with some very promising coins. But when I want to sell, I look at the chart to try to pick a relatively good price.