Strategy / Technics to become a successful trader. Share Share Share

[MyPain]

Anyone that can share their knowledge on trading and selling of bitcoins. Trading sites, trading apps, anything.
I know that there is a technic or strategy to become a successful trader. Thanks in advance.

[franky1]

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 $900 dollars put $90 at the current price to buy and then the rest at lower buy prices with a $9-$18 gap (1%-2%)
Price:$882    order:$90(2% gap example)
Price:$864    order:$90(2% gap example)
Price:$846    order:$90(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:$900    order:0.098btc(2% profit example)
Price:$882    order:$0
Price:$864    order:$90 recieve: 0.102(2% gap example)
Price:$846    order:$90 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 $90(at $864) and turn it into 0.102 and put those amounts into a sell order at a profitable price
Price:$900    order:0.098btc receive $882(2%example)(this order would be 0.1 but put 0.98 order and keep the 0.002 as bitcoin)
Price:$882    order:0.098tc receive $864(2%example)(this order would be 0.102 but put 0.98 order and keep the 0.004 as bitcoin)
Price:$864    order:$0
Price:$846    order:$90
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 $890 to get 1 BTC and hoping to sell at $980 to get 10%, the price could stay at a $870-$900 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/$890 as an example is because playing with amounts of $90 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 $864. keep the 0.004 as bitcoin. sell 0.098 at $882 to get you enough to buy 0.1 again at $864 again, rinse and repeat
Price:$900    order:0.098btc receive $882(2%example)(this order would be 0.1 but put 0.98 order and keep the 0.002 as bitcoin)
Price:$882    order:0.098tc receive $864(2%example)(this order would be 0.102 but put 0.98 order and keep the 0.004 as bitcoin)
Price:$864    order:$0
Price:$846    order:$90
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 $882 back to then have a buy order of 0.104 at $864 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 opportunity 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 opportunities and keep orders active. but in no way is there ever going to be a fool proof method of guaranteeing profits

[cjrosero]

Thank you franky1 for the tip i usually trade on crypto currency im practicing daily trading but keep failing. i was actually amaze by how you explain it thoroughly i was so impress upon reading and starting to realize that it is effective. what im usually doing is i put it on one order line and of course upon reading your tips and strategy i realize that i was wrong on. thanks franky i will continue following some of you tips if you still have one. 

[franky1]

Thank you franky1 for the tip i usually trade on crypto currency im practicing daily trading but keep failing. i was actually amaze by how you explain it thoroughly i was so impress upon reading and starting to realize that it is effective. what im usually doing is i put it on one order line and of course upon reading your tips and strategy i realize that i was wrong on. thanks franky i will continue following some of you tips if you still have one.  

just swap the $ example for a altcoin and the same applies.. i really emphasize my suggestion that you keep the profits as bitcoin and not to hoard the alts.
EG
buy alt 0.1btc=1000alt
sell alt 1000alt=0.101btc
buy alt 0.1btc=1000alt  (keep 0.001btc)

usually when an order hits put it straight as the 1-2% profitable order, that way you dont have to memorize or get confused what price it filled at because your handling it as it happened.

that way its easier to know the profits because you have put it there straight away, rather than not actively placing it to later not remember where it originally sold. also keeping a log of the orders or checking the trade history to ensure you are only putting orders in at profit, if your not always at the exchange all day

my numbers are not exact because trade fee's can vary. but just try to aim for 1% profit after fee's and calculations and dont waste time trying for 10% profits,you could stretch it to 2-5% if the daily spread volatility moves multiple times within say 6% variation .. but if the daily trades only move 3% then stick to a 1-2%, i would definetly suggest staying below the daily volitilty spread to give you many oppertunities .. DONT LET GREED OR DREAM PREDICTIONS control your choice, instead stay calm and rational taking little profits often instead of large profits waiting obscene lengths of time.

keep thinking to yourself 1% a day is 365%+(compounded) which is much better then 10-20% lump sum per year, on one order and greedily high gaps
keep thinking to yourself 1% a week is 50%+(compounded) which is much better then 10-20% lump sum per year, on one order and greedily high gaps

again even if you see volatility of 5%-10% a day stick to LOW profits and take it often, it soon adds up

lastly..
lets say you had 1btc. split it into 10x0.1 and got it into alt and then back to bitcoin.. (one rinse cycle)
dont automatically just throw it back to the same alt..
look at the chances that the alt is going to stay alive. before rinsing it through the same alt. instead look to see what other alts are suddenly becoming lively.
dont think that rinsing and repeating the same alt every week is safe. dont be afraid to move your btc to a different alt if trading becomes stagnant on one alt.
in short do not become too loyal and stick with one alt long term, purely due to profits of the past, because the future is not the past.

[Fortify]

There is no "magic" strategy you can follow to make money as a trader. The best option would be to practice trading on a virtual money platform in order to see whether you can make a profit. After about 3 months you could switch to real money after you are more familiar with the platform and trading methods. You have to remember that you are competing with some very powerful companies that can complete trades in milliseconds, so you're better off working out a long term plan.

[mindrust]

Keep in mind, bitcoin is practically useless without USD backing it up. You may have so many bitcoins while trading but if the prices going lower and lower, soon you will have many 1's and 0's which is worth nothing.

The key is in btc/usd trading that you need to catch bull trends. Do not try to catch a falling knife.

[InitcoiN]

You can try our free platform https://alpha.initcoin.com

We are in alpha, state soon switch to beta, but you can find some usefull tools (Like trade simulator, csv importer, save profiles...)

And you can read our blog articles about trading (soon we will update with alot of content).

GL

[MyPain]

Nyaaa.. So confusing.. Now I know now why traders are being respected for so much computations and a length of patience.
So, anyone that can share or link me to a Trading site that will simulate the trading sessions.. So that, I can figure out how the trading goes.

Thank you for the computations, I will study about that for me to gain more knowledge in trading.

[cjrosero]

Thank you franky1 for the tip i usually trade on crypto currency im practicing daily trading but keep failing. i was actually amaze by how you explain it thoroughly i was so impress upon reading and starting to realize that it is effective. what im usually doing is i put it on one order line and of course upon reading your tips and strategy i realize that i was wrong on. thanks franky i will continue following some of you tips if you still have one.  

~snip~

Thank you i just tried it 1-2% profit for daily trading is good for me, im doing this right now im slowly understanding how it works you are actually right if i continue doing this i could get 365% and the compounding. i do have question for you where are you trading and what are you trading? do you always win?

[eddie13]

Great writup franky1!!

No you don't always win, you just have to make your wins add up to bigger than your losses..
You can't be afraid to take a small loss once in a while in order to get out of a bad trade where you could potentially loose much more.

[MyPain]

Cjrosero, where are you trading? Can you share me some link where I can simulate the trading for example? Thanks advance.. Wanted learn more about trading.

[mobnepal]

Never buy high and never sell at low price is key and for that you need patience in trading. Another thing is spreading you assets/investments/holdings, i mean you better hold several alts with bitcoin together rather than try to hold a single alt that is performing good for last 24 hour or a week. However if you only hold that good alt only than crypto market is unpredictable and you may loss half of your value in terms of bitcoin/USD overnight .

[cjrosero]

Cjrosero, where are you trading? Can you share me some link where I can simulate the trading for example? Thanks advance.. Wanted learn more about trading.

i usually trade in bittrex. im focusing in stratis coin and some other coins. it has good potential in a long run. look at the trade market. it goes up and down. just like mobnepal said follow the simplest rule in trading "Never buy high and never sell at low price"  and just read the post of franky1 learn it understand it and write it on you own understanding. im still learning things.

[rphk]

best strategy is to buy at lower rate and sell at higher rate. main thing is you need wait and watch the price like the patterns moving on those. sometimes it may drop suddenly or it may rise to the high any time , so by keep regular monitoring and main thing is when to get some profit immediately sell it . don't wait price to go up further .

[Caladonian]

Cjrosero, where are you trading? Can you share me some link where I can simulate the trading for example? Thanks advance.. Wanted learn more about trading.

i usually trade in bittrex. im focusing in stratis coin and some other coins. it has good potential in a long run. look at the trade market. it goes up and down. just like mobnepal said follow the simplest rule in trading "Never buy high and never sell at low price"  and just read the post of franky1 learn it understand it and write it on you own understanding. im still learning things.

oh there's a dump which is happening right now coming from this coin, i always take the advise of buying low and selling high it works for a day traders but if you are looking for some sort of a hint OP better to find a project and keep on eye from it make sure that whenever there's an update expect that a movement from the price will follow.

[Sergiorr101]

Well i don't really have strategy as i trade how i feel is good, just i have some rules of trading like never panic and if i bought for 100$, i can't sell for less than 101$ each because i will lose money

[MyPain]

Franky1 gives a computation on selling and buying. I am trying to understand and learn from videos and tips and advices from others.. Atleast now, i have an idea how to deal with it. I am trying to understand it more deeply. Anyone that can suggest free trading site where I can practice trading selling and buying for free.. I understand the computation, I want to see if the computation is equals to simulation. Thanks advance.. Feel free to share some link of free simulation of trading.. Thanks thanks..

[8Habits]

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

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

[MyPain]

Anyone that can share any link leads to free simulation of trading? it would be a great help for me to understand more.. Thanks!

[ethereumhunter]

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

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.