Basic/Noob Enter/Exit Strategies?

[dandirk]

Completely new to markets directly... more used to 401k and other no thought options like M Funds etc.

Pretty much playing with the market, $500-1500 bank role for the time being.

Learning a ton about trading.. MACD and all sorts of other acronyms.  Pretty fun learning new stuff.

What are some basic enter/exit strategies people use when performing trades?   Not really looking to day trade completely... but a few transactions a week... maybe 2 a day (buy sell etc)...

I have read a bit about a pyramid system, where you buy most of your desired position first (50%?)... then smaller amounts during (hopefully the upward trend)...  Then when exiting, the opposite... sell your 50%, then less and less.

Do you always keep a BTC/$$ position, say 10% on hand?  AKA never sell all BTC and drop your cash to 0?.  Obviously this makes waaaaaay more sense with the $10 buy'ins but what about a noob like myself just starting?

What kind of BTC size orders do you do?  Is it better to do a bunch of smaller orders spread out at various prices.. say 0.5 btc at 100.1, 0.5 btc 100.14, 0.5 btc 100.2 etc  OR just a straight up 4 btc at 100 (remember small fish here, 4 is the bottom of my bank size).

What sort strats do you perform based on the market order walls?  I noticed there would be some advantages to trying to sneak a limit order in front of a wall.. but the walls many times poof! so is it even worth bothering?

Thanks for helping a noob out.

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[infested999]

I flipped $260 into $420 last weekend. Just based on the fact that the price would never drop below $100 (for that weekend at least) and some common sense. I got lucky and I just straight up bought at 100 and sold at 130 over and over again, going all in each time.

Right now I'm in deep shit though because bought at 100 and it dropped to 75.

[yoohoo]

Right now I'm in deep shit though because bought at 100 and it dropped to 75.

It made me laugh  .

Ur strategy was funny, but worked.

[Malawi]

You are still up!

And even though the market moves downwards, it has some somewhat predictable swings.

[Marrs]

Don't gamble with money you can't afford to lose.

Yes, it IS gambling. More like poker than roulette but nevertheless, you can do everything right and still lose.

It's a bad idea to start trading without doing some real research into it. You may as well sit down at a poker table at a casino without knowing how to play.

Trend following is a simple trading that you can try out with pocket change as you learn more about trading in general. Mo-mo is another one that is kind of similar, but more for quick scalping.

Most importantly, don't gamble with money you can't afford to lose!

[dandirk]

Thanks guys... Appreciate the tips so far.

I was more looking for how to enter and exit.  Do you go all in with each trade... only a %... Do you ramp up/down your buys/sells?  I don't want to be the one that buys then sells everything waiting for it to go down and never does (bears that sold at $30 etc). 

I am guessing with what little I have all in and out is probably ok, I just want to learn something new I suppose.