how to make a good PROFIT in trading?

[JDacer]

yesterday ive been trading in a first i made 2.66 mbtc in 30 mins. then the second trade was 1.8 mbtc. 3 to 5 trade lost on liquidation

[Rzqt]

https://www.youtube.com/watch?v=0akBdQa55b4

[greyworld]

I'm going to paste a response I wrote to someone else about this earlier

Buy a bunch of different kinds of alt coins.  Research them first, try to pick good ones, etc etc.  But get a very broad selection of them.  Look for ones that occasionally spike to 150%-200% (or more) of normal level.

Structure your automatic sells so if you buy 5 coins for $10, you sell 4 of them for $12.50, then sit on the 1 you have left.  So if you buy 100 at $10, sell 80 @ $12.50

Leave it alone for a while.  Two weeks, a month maybe.  Don't just sit there and watch it, you'll be tempted to micro-manage the process.

When you come back and look at it, most of them will have hit the auto-sell, covered the initial expense, and left a remaining fraction that was basically free.

Some of them won't have caught, and if you've given it a month and they did not, you might want to sell those off.  Or if you're feeling gutsy, buy more at the lower rate, restructure your sells the same way as before but with the new average buy in price in mind, and wait on them again.

Most of them will have caught because traders routinely pump up any/all of the altcoins to levels way past +25%. 

So then you have a portfolio of coins that was basically free.  Sell enough to cover the expense of the ones that didn't catch.  Remove 100% of your initial investment from Bittrex and put it back into long term savings.  Bitcoin would be a safe bet, or silver.

Then I like to setup auto sells with the free coins harvested so as the coin price hits certain targets, it sells off enough for a consistent payoff.  So if coin is bought at $5, and I want to make $100 per payoff, and I have 20 coins, I'd have sells at 10 for $10, 5 for $20, 2 for $50, 1 for $100.  That's 18 of the 20, then hang onto a couple for later.  You'll want to adjust those amounts to reasonable levels for any given coin but that's the idea.  Every time it hits a new higher target -> payday ($100 each in this case, $400 total).  IMO this is better than say... putting in an auto sell of 20 for $100.  Sure you'd make 5x as much... IF it ever hits.  Big if.  Or selling 20 at $10, you only make $200 but if the pump actually went up to $100, you missed out.  With sell targets like I outlined, you get a nice payout at all stages of a good pump and dump.  And you don't have to do anything, it just happens automatically over time.

Once the money from your free coins has built up enough to be relevant, take half of it and do the same process again with it.  Repeat until you have a giant stack of money.

[GreatOrchid]

I'm going to paste a response I wrote to someone else about this earlier

Buy a bunch of different kinds of alt coins.  Research them first, try to pick good ones, etc etc.  But get a very broad selection of them.  Look for ones that occasionally spike to 150%-200% (or more) of normal level.

Structure your automatic sells so if you buy 5 coins for $10, you sell 4 of them for $12.50, then sit on the 1 you have left.  So if you buy 100 at $10, sell 80 @ $12.50

Leave it alone for a while.  Two weeks, a month maybe.  Don't just sit there and watch it, you'll be tempted to micro-manage the process.

When you come back and look at it, most of them will have hit the auto-sell, covered the initial expense, and left a remaining fraction that was basically free.

Some of them won't have caught, and if you've given it a month and they did not, you might want to sell those off.  Or if you're feeling gutsy, buy more at the lower rate, restructure your sells the same way as before but with the new average buy in price in mind, and wait on them again.

Most of them will have caught because traders routinely pump up any/all of the altcoins to levels way past +25%. 

So then you have a portfolio of coins that was basically free.  Sell enough to cover the expense of the ones that didn't catch.  Remove 100% of your initial investment from Bittrex and put it back into long term savings.  Bitcoin would be a safe bet, or silver.

Then I like to setup auto sells with the free coins harvested so as the coin price hits certain targets, it sells off enough for a consistent payoff.  So if coin is bought at $5, and I want to make $100 per payoff, and I have 20 coins, I'd have sells at 10 for $10, 5 for $20, 2 for $50, 1 for $100.  That's 18 of the 20, then hang onto a couple for later.  You'll want to adjust those amounts to reasonable levels for any given coin but that's the idea.  Every time it hits a new higher target -> payday ($100 each in this case, $400 total).  IMO this is better than say... putting in an auto sell of 20 for $100.  Sure you'd make 5x as much... IF it ever hits.  Big if.  Or selling 20 at $10, you only make $200 but if the pump actually went up to $100, you missed out.  With sell targets like I outlined, you get a nice payout at all stages of a good pump and dump.  And you don't have to do anything, it just happens automatically over time.

Once the money from your free coins has built up enough to be relevant, take half of it and do the same process again with it.  Repeat until you have a giant stack of money.

I strongly recommend this strategy. When i used to trade, i used 0.05 btc for every operation i made, and take profit when it reaches 0.0525
By this way, if you open 4 operations at the same time, yo can easily make 0.01 profit every day, or less if you wanna take profit even faster.
But this is good if you wanna earn good money, always chosing good coins of course.

[greyworld]

I strongly recommend this strategy. When i used to trade, i used 0.05 btc for every operation i made, and take profit when it reaches 0.0525
By this way, if you open 4 operations at the same time, yo can easily make 0.01 profit every day, or less if you wanna take profit even faster.
But this is good if you wanna earn good money, always chosing good coins of course.

Hey great I'm glad to hear it sounds like a good plan.  I'm actually so new to trading, crypto, mining etc that's it really just my best guess... but so far I'm getting nice results from it, about 4-8% gains per day, sometimes more.

Are you tracking any coins now?  How does OMG, CVC, BAT, CFI, XLM sound for mid/long term holds?

Once I get some free coins I tend to get a little crazy with them.  So I'm also flipping GEO, BCH ("BCC") and EBST more often, a few times a day sometimes.  So far that's working out pretty good but it seems like a higher risk approach.  GEO might be good for long term too, I'm trying to hang onto some of that for later.  EBST is junk but it moves a lot.

GEO will pump in about 12 hours, it may have already started a little early.  I think it'll go up about 20% over current levels (54k satoshi), maybe peak 25-30%.

[LouVandetta]

Just like everyone already knows, buy low - sell high.
If you're still new to trading, just use a low budget.
Only use you can afford to lose.

Learn to understand how the market goes. Of course with a good coins.
Put your profit target, if you think it's enough profitable, then stop.

As for me, 10-20% profit is good enough.

[hanskan]

1) Pick a coin that is volitile AF and has big volumes
2) Buy low and sell high = profits

[doedz]

You must have great capital to continue to survive the worst situation.
I will give an example:
If you buy a coin at the price of 20, you must set up additional capital to buy again at the price of 10. If the price goes down then the purchase should be kept at the lowest price.
Furthermore, if you have bought everything, then just wait for the pump. If you sell at the price of 15. then you already have a profit.

[RoommateAgreement]

there are two golden rules when it comes to trading altcoins before anything else:
1. buy coins that are not in a bubble
just take a look at where they are. on the charts it would be obvious to notice when a coin is up a lot compared to past days or weeks.
these coins will obviously get dumped hard soon.

2. dump them as soon as possible
never maket the mistake of becoming a altcoin bag holder. people make the mistake of comparing alts with bitcoin. if you hold bitcoin you will always make profit in long term even if its price drops.
but if you hold altcoins you will only lose money because they rarely get pumped and each pump will be smaller than the last.

[thend1949]

I'm going to paste a response I wrote to someone else about this earlier

Buy a bunch of different kinds of alt coins.  Research them first, try to pick good ones, etc etc.  But get a very broad selection of them.  Look for ones that occasionally spike to 150%-200% (or more) of normal level.

Structure your automatic sells so if you buy 5 coins for $10, you sell 4 of them for $12.50, then sit on the 1 you have left.  So if you buy 100 at $10, sell 80 @ $12.50

Leave it alone for a while.  Two weeks, a month maybe.  Don't just sit there and watch it, you'll be tempted to micro-manage the process.

When you come back and look at it, most of them will have hit the auto-sell, covered the initial expense, and left a remaining fraction that was basically free.

Some of them won't have caught, and if you've given it a month and they did not, you might want to sell those off.  Or if you're feeling gutsy, buy more at the lower rate, restructure your sells the same way as before but with the new average buy in price in mind, and wait on them again.

Most of them will have caught because traders routinely pump up any/all of the altcoins to levels way past +25%. 

So then you have a portfolio of coins that was basically free.  Sell enough to cover the expense of the ones that didn't catch.  Remove 100% of your initial investment from Bittrex and put it back into long term savings.  Bitcoin would be a safe bet, or silver.

Then I like to setup auto sells with the free coins harvested so as the coin price hits certain targets, it sells off enough for a consistent payoff.  So if coin is bought at $5, and I want to make $100 per payoff, and I have 20 coins, I'd have sells at 10 for $10, 5 for $20, 2 for $50, 1 for $100.  That's 18 of the 20, then hang onto a couple for later.  You'll want to adjust those amounts to reasonable levels for any given coin but that's the idea.  Every time it hits a new higher target -> payday ($100 each in this case, $400 total).  IMO this is better than say... putting in an auto sell of 20 for $100.  Sure you'd make 5x as much... IF it ever hits.  Big if.  Or selling 20 at $10, you only make $200 but if the pump actually went up to $100, you missed out.  With sell targets like I outlined, you get a nice payout at all stages of a good pump and dump.  And you don't have to do anything, it just happens automatically over time.

Once the money from your free coins has built up enough to be relevant, take half of it and do the same process again with it.  Repeat until you have a giant stack of money.

I strongly recommend this strategy. When i used to trade, i used 0.05 btc for every operation i made, and take profit when it reaches 0.0525
By this way, if you open 4 operations at the same time, yo can easily make 0.01 profit every day, or less if you wanna take profit even faster.
But this is good if you wanna earn good money, always chosing good coins of course.

Well I see it as nice strategy also, and that's really an interesting job to do as you trade successfully. Hopefully that will be fulfilled every day having that 0.01 profit, but It's not possible to happen most of the time due to fluctuations. Much better if the changes of the volume will be rising and not dropping, and that's right idea of making money as said here yet having good coins will benefit you if the type of coin has a promising sell value and highly profitable when the peak price can be attained so far.

[Sikka157]

I strongly recommend this strategy. When i used to trade, i used 0.05 btc for every operation i made, and take profit when it reaches 0.0525
By this way, if you open 4 operations at the same time, yo can easily make 0.01 profit every day, or less if you wanna take profit even faster.
But this is good if you wanna earn good money, always chosing good coins of course.

Hey great I'm glad to hear it sounds like a good plan.  I'm actually so new to trading, crypto, mining etc that's it really just my best guess... but so far I'm getting nice results from it, about 4-8% gains per day, sometimes more.

Are you tracking any coins now?  How does OMG, CVC, BAT, CFI, XLM sound for mid/long term holds?

Once I get some free coins I tend to get a little crazy with them.  So I'm also flipping GEO, BCH ("BCC") and EBST more often, a few times a day sometimes.  So far that's working out pretty good but it seems like a higher risk approach.  GEO might be good for long term too, I'm trying to hang onto some of that for later.  EBST is junk but it moves a lot.

GEO will pump in about 12 hours, it may have already started a little early.  I think it'll go up about 20% over current levels (54k satoshi), maybe peak 25-30%.

How much money do you spend for trading every day? what exchange is good for these kinds of trades. I want to day trade too but i have bittrex and on bittrex when you sell a coin, you sell for bitcoin not for USD. sometimes during the selloff you sell for profit and price of bitcoin drops and profit is gone.

[michellee]

yesterday ive been trading in a first i made 2.66 mbtc in 30 mins. then the second trade was 1.8 mbtc. 3 to 5 trade lost on liquidation

maybe you pick wrong coins or you are to naïve when you following the price which is increase and you expecting to reach more profit because it could makes you being stuck in high price. first you need to watch the history for that day, if the different of the price is have big gap, then you can join. but if its small, then I suggest you to move into other coins. never mind if you get lost but you have a good lesson in that day so you can avoid to make the same mistake in other day.

[Sikka157]

I am planning on putting 0.5 Bitcoin on bittrex and daytrade 5/6 currencies for around $300-$400 each and whichever price increases sell it making a small profit. How does the strategy sound???

[Caladonian]

I am planning on putting 0.5 Bitcoin on bittrex and daytrade 5/6 currencies for around $300-$400 each and whichever price increases sell it making a small profit. How does the strategy sound???

that's much better if you are aiming for short term goal, but if you are planning to have a good profits better to look for long hold just buy coins which
still not being hyped/pumped and research for any upcoming news or updates then hold and sell when the value goes to the moon.

[greyworld]

I am planning on putting 0.5 Bitcoin on bittrex and daytrade 5/6 currencies for around $300-$400 each and whichever price increases sell it making a small profit. How does the strategy sound???

It's hard to catch the spikes, the profits aren't around long.  Most A lot of coins that I've seen don't gradually increase in value, they gradually decrease in value and occasionally and very briefly, jump to much higher levels.  Some coins do keep increasing, pretty much, but they're rare and they'll all have good/bad days.  It's hard to know if today is good or bad for a coin until tomorrow comes and you can see the movement.

I would recommend setting up automatic sells the moment you buy the currency.  If you follow the approach I outlined, you end up with some left for free that you can be a little more laid back about how you liquidate.


Good luck!

[puremage111]

Speculation is always something that should be done if you are looking at huge profit

The reason why is because a big pump is usually before great development, news release

So i would say, reading and asking is a way to make good profit in trading in terms of fundamental

[coynedterm]

yesterday ive been trading in a first i made 2.66 mbtc in 30 mins. then the second trade was 1.8 mbtc. 3 to 5 trade lost on liquidation

First of all you need to make yourself sure that trading us a unpredictable job and Don't expect to make big because at a single moment you can make Big and at a next moment you will loss all .
So instead to think much about the it just follow tye basic rules of the trading .
Buy a coin which is at low price but still have a better reputation in the cryptocurrency market ( like dgb , eth , dash , bch , rdd , creva etc )
And then place at advance sell order , for example if you bought any coin @ 50 Satoshi then place it for sell at 70 Satoshi ( which is enough ).
In this way you will fimd that every coins always fluctuating weekly monthly and can give profit in small small amounts .
The above lines are telling basic concept of my trading .
But if you want make big then you need to make high risk investment in thise coins which have not a better potential ( because their chances to become dead is easy ).

[seriousbusiness]

This is how you make easy money:

https://www.cryptocompare.com/portfolio-public/?id=11191

and

https://www.cryptocompare.com/portfolio-public/?id=43976

[Geleve]

there are two golden rules when it comes to trading altcoins before anything else:
1. buy coins that are not in a bubble
just take a look at where they are. on the charts it would be obvious to notice when a coin is up a lot compared to past days or weeks.
these coins will obviously get dumped hard soon.

2. dump them as soon as possible
never maket the mistake of becoming a altcoin bag holder. people make the mistake of comparing alts with bitcoin. if you hold bitcoin you will always make profit in long term even if its price drops.
but if you hold altcoins you will only lose money because they rarely get pumped and each pump will be smaller than the last.

I dont agree. I hold altcoins for long time and i know it is a good strategy. If you say it is a mistake that mean you are a newbie or you invest to shit scam altcoins.
Lets compare top a few digital currencies for 1 year ago and today.

Bitcoin - 1 year ago:~ 580 USD today:~ 4000 USD (x6.9)
Ethereum - 1 year ago:~ 11 USD today:~ 300 USD (x27)
Ripple - 1 year ago:~ 0.006 USD today:~ 0.29 USD (x48,3)
Litecoin - 1 year ago:~ 3.4 USD today:~ 47 USD (x13.8 )
Waves - 1 year ago:~ 0.16 USD today:~ 4.7 USD (x29.3)

As you can see if you hold known altcoins for last 1 year you would make much more profit comparing with holding bitcoin...

[wojak]

there are two golden rules when it comes to trading altcoins before anything else:
1. buy coins that are not in a bubble
just take a look at where they are. on the charts it would be obvious to notice when a coin is up a lot compared to past days or weeks.
these coins will obviously get dumped hard soon.

2. dump them as soon as possible
never maket the mistake of becoming a altcoin bag holder. people make the mistake of comparing alts with bitcoin. if you hold bitcoin you will always make profit in long term even if its price drops.
but if you hold altcoins you will only lose money because they rarely get pumped and each pump will be smaller than the last.

I dont agree. I hold altcoins for long time and i know it is a good strategy. If you say it is a mistake that mean you are a newbie or you invest to shit scam altcoins.
Lets compare top a few digital currencies for 1 year ago and today.

Bitcoin - 1 year ago:~ 580 USD today:~ 4000 USD (x6.9)
Ethereum - 1 year ago:~ 11 USD today:~ 300 USD (x27)
Ripple - 1 year ago:~ 0.006 USD today:~ 0.29 USD (x48,3)
Litecoin - 1 year ago:~ 3.4 USD today:~ 47 USD (x13.8 )
Waves - 1 year ago:~ 0.16 USD today:~ 4.7 USD (x29.3)

As you can see if you hold known altcoins for last 1 year you would make much more profit comparing with holding bitcoin...

IMHO Last year was rather profitable to all holders. It may be pointless to create strategy only on huge growth. What about stable or falling market trends?