Time based buy-in strategy?

[TERA]

Does anyone here have a strategy where they buy in on time intervals and the strategy is almost as effective as finding a buy point based on charts? I am ready to take a break from charting and I want to do something much less involving, perhaps at the cost of a small amount of profits. I'm thinking of it something like driving a race car - you can drive a manual or automatic and you will get slightly better performance in manual, but will still get great performance in automatic and can't make mistakes. I would like to drive in automatic now if the implications are small. I see the charts and see that the price is likely reaching a reversal point, so I want to start buying. However, I also acknowledge that this could be a trap or that there are various negative events that could start driving prices down again, especially if another major exchange goes down like huobi or bitstamp or if someone really has 750,000 coins and starts dumping them. I don't want to go all in and be screwed if such an event occurs and be stuck with relatively high priced coins with no ability to buy the new cheaper coins. So does anyone have any experience with some type of time based buy in strategy? For example you buy at some point once a week? What is your experience with this strategy and its profitability versus other strategies? Thanks.

[1714951198]

1714951198

[Ibian]

Yes. I buy whenever I have fiat. Then when I get fiat the next time I buy again. Once a month like clockwork.

Not much of a strategy? Screw that. I take a relaxed long term view, not a hectec, stress filled, alarm-going-off-in-the-middle-of-the-night hyper active trading view.

I didn't get in super early. I don't make massive profits trading the swings. But I also did not trade all my coins for a pizza or let greed take over and send money to gox. And I sleep pretty well, knowing that the day to day swings don't mean a thing. It's the insane rallies that count, no matter which way they go.

That said, I do have a plan for trading a bit of profit once we pass 1k or so. But it is risk-free and as a consequence low-performing. But also relaxing.

[segeln]

 
 When to buy BTC?

First:
make your decision/opinion about the future of bitcoins.
Second :
Make a personal forecast/estimation for the value of bitcoins in about 1 or 2 years
than conclude:
is your personal value-forecast/estimation >let`s say 2000 €/BTC than ist dosn`t really matter at what Price below 1000 €/BTC you are going to buy BTC.
The higher your personal value-forecast/estimation  the less does it matter.
You will be on the winning side either way.
So did I:

Bought and hold

Now I am watching very relaxed and amused price-movements.
The only thing to strictly be applied is:

put only money in BTC you can afford to lose.

IMHO: BTC is

a- once-in -a-lifetime -chance
to participate in a revolutionary changing monetary System[in case this will happen]

[MatTheCat]

Does anyone here have a strategy where they buy in on time intervals and the strategy is almost as effective as finding a buy point based on charts? I am ready to take a break from charting and I want to do something much less involving, perhaps at the cost of a small amount of profits. I'm thinking of it something like driving a race car - you can drive a manual or automatic and you will get slightly better performance in manual, but will still get great performance in automatic and can't make mistakes. I would like to drive in automatic now if the implications are small. I see the charts and see that the price is likely reaching a reversal point, so I want to start buying. However, I also acknowledge that this could be a trap or that there are various negative events that could start driving prices down again, especially if another major exchange goes down like huobi or bitstamp or if someone really has 750,000 coins and starts dumping them. I don't want to go all in and be screwed if such an event occurs and be stuck with relatively high priced coins with no ability to buy the new cheaper coins. So does anyone have any experience with some type of time based buy in strategy? For example you buy at some point once a week? What is your experience with this strategy and its profitability versus other strategies? Thanks.

I believe that a break-out will come and that $400 will be the medium term bottom.

I have bids running down in tranches (as opposed to everything stacked on one sweet spot that I dreamt about which turned out to be $9 too low) from $505 to $460. If we don't break out from here, I believe that one more visit into this long term 'oversold' range will confirm the bottom and Bitcoin will go on to trend upwards until at least $765 support range. If it turns out I am totally wrong, and a new bottom is found in the near term, I will have plenty opportunity to cover my ass on the bounce (at least in theory). If I am right, then I will need to pay attention until the new uptrend is formed, and then simply hold. until the major resistance at $765 is approached, at which point I will need to start tuning in again.

[chessnut]

I have spent years on the forex scalping, and time is a really important component to taking loss/profit.

but I have no strategy, ones need to develop an eye for the market, and be able to visualise several likely outcomes to a given trade, and judge what

time frame they are likely to happen within. It is bad to take loss before your trade has had time to develop, and it is bad to take profit too late.

[billyjoeallen]

Just get a balancing bot that keeps you in 50/50 fiat/BTC.

[Cassius]

I'm a little surprised a charting veteran like you has gone for a change of scene. Though I can appreciate not watching the price/charting the whole time must be appealing.
I looked at a (very) little TA a few years back and am gently trying to reacquaint myself now with it for bitcoin. I don't have enough confidence in my ability to read the market to put my money where my mouth is, so I'm just playing with small amounts. Strategy at the moment is similar to MatTheCat's, though simpler: buying/selling in tranches as the price moves up and down. You don't gain much, but you do gain. I try to pick the thresholds with a little TA, but ultimately it doesn't matter too much. At this point I'm more interested in learning and coming out ahead. I figure if every buy is also a sell, someone is making the right decision and someone the wrong one. Factor in trading fees and if you come out with more than you went in with you're doing better than most people.
Unlike most people, though, I earn a little bit of btc too. Those I'm planning to HODL and see where things go over the next year or two.

[bitcoinsrus]

Its best to do what you been doing (whatever that may be).  Ever change a question on a test and get it wrong?  I have.  Your first method/instinct has gotten you this far (however successful you may be).  You learned specific patterns and reactions due to red flags you seen (in the market before).  You have a specific schema that is unique and tailored to your methods.  Changing your practices can help if added to the schema and not changed completely (imo)  

As for new advice (from a new user).  Just be patient.  My lack of patients cost me the 400 dip a few days ago.  When market was 700, I decided to buy a cointerra machine (from someone on this forum).  I thought I would resell on ebay for a quick 5-6k profit but since the market was down, people did not bid nearly as high.  In addition to the quick profit, I thought I could buy in at 700 and price would go to 800, etc. ebayers only bid me up to a few hundreds in profit (and I almost got less if it wasn't for one desperate ebidder who wanted it.)

I did resell for a profit (few hundreds only) and I could still buy less 700, but I missed the 400 dip.  I could have instantly sold at 595 next day for big profit.  My advice be patient and don't be greedy like I was because that could be the difference between making thousands or losing hundreds.  Bird in the hand vs. too greedy did not work out for me.  And I will learn from my mistake.