Do you think this is a good strategy ?

[Sun2k]

Hi all 

Do you think this is a good strategy:

I buy bitcoin by putting a stop limit at the same purchase price to lose nothing

Example: I buy 1 BTC at $ 5200 and simultaneously place a stop limit (loss) at $ 5200, if the price goes up then it's good for me but if it goes down then I would lose nothing

Thank you

[YOSHIE]

Example: I buy 1 BTC at $ 5200 and simultaneously place a stop limit (loss) at $ 5200, if the price goes up then it's good for me but if it goes down then I would lose nothing

Thank you

You are very lucky today, now the price of Bitcoin is $ 6500, whereas you are buying the price of $ 5200, so now if you sell it already has a profit of $ 1300 enough for you to buy something useful.

The strategy you are doing is right.

[Sun2k]

You are very lucky today, now the price of Bitcoin is $ 6500, whereas you are buying the price of $ 5200, so now if you sell it already has a profit of $ 1300 enough for you to buy something useful.

The strategy you are doing is right.

Thank YOSHIE

$ 5,200 was an example.

If I buy BTC at $6500 and I immediately place a stop limit of $6500 does it work or is it impossible?

[ryzaadit]

$ 5,200 was an example.

If I buy BTC at $6500 and I immediately place a stop limit of $6500 does it work or is it impossible?

Your stop-loss will active immediately with a few mins.

Should make a different percentage the price you are buying and the percentage you can afford to lose, if you set the price $6500 went the bitcoin price still at $6500 at the same time your stop loss will activity because of the volatility of bitcoin and just wasting your fee-trade. If you want to set up the price with the same price buying them, you should be waiting until the price up with around 5-10%. Example buying bitcoin $6500, wait until the price reaches $6800 to avoid your stop lose active immediately.

[joeperry]

Yes, I've been using that strategy when I'm about to sleep and and bought a coin it's a good way to control your lose or to avoid losing at all but you should consider on where you wanted to sell your coin since you might miss the opportunity to sell it at a certain point and it goes back to the limit you've set and so you just have wasted an opportunity to earn a certain amount.

[crwth]

This would be ideal if you are working on a 0% fee exchange because in the long run, if you continue to do that (assuming you the order doesn't go through because technically it would be executed as well because of the volatility), you would lose money. We don't want that, do we?

[Ryker1]

[snip]
$ 5,200 was an example.

If I buy BTC at $6500 and I immediately place a stop limit of $6500 does it work or is it impossible?

Well, it will depend on how much longer you will hold after buying. This strategy I used when I want to sell my token on the exchange at set a higher amount. Indeed, --this is not a bad idea and you are safe about this. But I think there are a few disadvantages that I have seen on this strategy. First, never leave your Bitcoin on the exchange and second, it might you lose from fees. My good advice is, buy Bitcoin and store it in the long term purpose until you will see your profit.

[Sanugarid]

$ 5,200 was an example.

If I buy BTC at $6500 and I immediately place a stop limit of $6500 does it work or is it impossible?

Your stop-loss will active immediately with a few mins.

Yeah, this is possible when it goes high then gets suddenly lower at your buying price that's all you are making today, actually none but if you are lucky enough and the price increase is in rally then it might work.

Should make a different percentage the price you are buying and the percentage you can afford to lose, if you set the price $6500 went the bitcoin price still at $6500 at the same time your stop loss will activity because of the volatility of bitcoin and just wasting your fee-trade. If you want to set up the price with the same price buying them, you should be waiting until the price up with around 5-10%. Example buying bitcoin $6500, wait until the price reaches $6800 to avoid your stop lose active immediately.

Agree, this will do for traders who are going outside for a couple of hours. As for my strategy, I always adjust depends on the movement in a week, starting from day 1 example on monday the price is at $6000 to day 7, sunday, the price is $6200 then for the next week's day 1 my buying price is $6200 and I'll set the stop loss to $6000, I'm not saying that this is fully working but at least for me it is.

[goinmerry]

Hi all  

Do you think this is a good strategy:

I buy bitcoin by putting a stop limit at the same purchase price to lose nothing

Example: I buy 1 BTC at $ 5200 and simultaneously place a stop limit (loss) at $ 5200, if the price goes up then it's good for me but if it goes down then I would lose nothing

Thank you

Are you sure about that?

That's not a good idea for a fluctuating market. You might end paying more if the price sustains on that level.

Stop loss is not design for that. If you want to minimize your loss then you can set a lower limit in a few percentages.

[milewilda]

Hi all 

Do you think this is a good strategy:

I buy bitcoin by putting a stop limit at the same purchase price to lose nothing

Example: I buy 1 BTC at $ 5200 and simultaneously place a stop limit (loss) at $ 5200, if the price goes up then it's good for me but if it goes down then I would lose nothing

Thank you

Theres nothing wrong with that an in fact you are already profiting now since the price had risen up to 6.3k and it would be much if you do sell it out for securing profits
and repeat the whole process.Try to re-enter on cheaper price and then sell it off as long you do see greens or gains.On this way it would really be ideal to accumulate btc
and it is much more a faster process rather or compared if you do just decide to hold for longer duration.No matter what strategy you are doing as long it do benefits you out
then you are doing good.

[peonminer]

For this work, you would need to buy into a bull run so that the price is substantially far off from your buy. A lot of price action is major players and bots hunting stop losses. This is the practice of sites like Bitmex. You can watch the buy/sell walls on there hunt stop losses in real-time and their REKT chatbot call out people getting liquidated. Then the price will violently move in the opposite direction.

[LbtalkL]

Yes, it is effective and safe if the market is going up, but what if going down? putting a stop limit at the same price as your entry will just end quickly, market is very volatile right now. You will still lose a small amount of trading fees. What market are you planning to dive in? Spot or Margin/leverage trading? I don't recommend leverage trading for starters.

[Kelvinid]

Hi all  

Do you think this is a good strategy:

I buy bitcoin by putting a stop limit at the same purchase price to lose nothing

Example: I buy 1 BTC at $ 5200 and simultaneously place a stop limit (loss) at $ 5200, if the price goes up then it's good for me but if it goes down then I would lose nothing

Thank you

It possible that you will still be losing at that set amount. It is better to set put it into $5,400 so there is still a gap before stop-loss will activate and make you totally safe. We know how the market moves in just seconds and the activation might take seconds also, and this $200 gap is enough to cover up those changes. But I suggest that you only use this strategy if when you are going to sleep, go outside because you'll get surprised what it happens to your trade.

[Sun2k]

Thank you all ..

It's great to have all these opinions

My goal was to wait for the bitcoin to increase then buy for example at $5300 and at the same time place a stop limit at $5300 and to sell at the first red candle.

In the best case I earn a profit and in the worst case I pay the transaction costs.

What do you think ?

Do you know of exchange platforms with 0% transaction fees?

[Yamifoud]

Do you know of exchange platforms with 0% transaction fees?

I have to say that there are no exchanges that offer free transaction fees. Transactions fees are the only thing that helps them to survive.
You can find exchanges that offer low transaction fees compared to the others but not of free at all.

This thing goes into the competition and they are pushing into the limit to provide good services to their clients, traders, and investors as well.
Don't get fooled in an exchange that offers you free coz that somewhat will scam you and put you an end. Better to rely on a reputable trading platform even it cost a few sats but at least we are safe.

[krayzie32]

Example: I buy 1 BTC at $ 5200 and simultaneously place a stop limit (loss) at $ 5200, if the price goes up then it's good for me but if it goes down then I would lose nothing

Thank you

You are very lucky today, now the price of Bitcoin is $ 6500, whereas you are buying the price of $ 5200, so now if you sell it already has a profit of $ 1300 enough for you to buy something useful.

The strategy you are doing is right.

Not everyone is confident enough when the price of Bitcoin drops and certainly people will be very suspicious when that coin drops to a low . I was psychologically and panicked when the Bitcoin price fell to $6000 but today the price continues to rise again. The current market is very difficult to predict and there will certainly be more volatility in the near future.

[Akiko]

You are very lucky today, now the price of Bitcoin is $ 6500, whereas you are buying the price of $ 5200, so now if you sell it already has a profit of $ 1300 enough for you to buy something useful.

The strategy you are doing is right.

Thank YOSHIE

$ 5,200 was an example.

If I buy BTC at $6500 and I immediately place a stop limit of $6500 does it work or is it impossible?

It will work as always if you do not want to lose any from trading. The good thing about the strategy you are making is you will never lost in USD value and there are chances that you will earn if the price increase. The only problem is you need to monitor that always so every time your stop loss filled then you can set another one with a new target value.

You need to always watch your trade since there are times that it always filled the stop loss you set and its so hassle for others.

[maydna]

Well, I think that is a good strategy to prevent the big loss, especially if the price goes down deeper. You can use that as much as you want, but you should remember that you still pay the fee, which will become bigger if you trade mostly.

My goal was to wait for the bitcoin to increase then buy for example at $5300 and at the same time place a stop limit at $5300 and to sell at the first red candle.

In the best case I earn a profit and in the worst case I pay the transaction costs.

What do you think ?

Then you should be patient for a while to wait for bitcoin price to go down. We don't know when bitcoin can go down, and what price bitcoin will reach in the bottom because until now, bitcoin is still trying to increase. You can place an order at the lower price, for example, $5,300, and you can set the alarm in $5,200, so when the price reaches that, it will sound, and you can decide to let the order will fill or change in the other lower price.

Do you know of exchange platforms with 0% transaction fees?

I think all exchanges have a fee for every transaction, and the amount will be different. But you can pay a small fee in Binance by using the Binance coin.

[adaseb]

No it won't work.

There are many reasons why it work work. First one is that unless $5300 was the absolute bottom when you entered your trade, most likely you would end up getting stopped out 20 times before it actually either moves up or down. The markets are choppy, they don't go straight up or down.

Second issue is slippage. Your stop is $5300 however if there is a nasty sell order your fill might be $5290 which happens in these choppy markets. Also you need to pay trading fees and there is a spread of $0.50 or $1.00 or so. So if you buy at $5300, unless it was a limit order your trade would fill at $5301 and your stop-loss would need to be at least >$1.

Sorry but if trading was this easy.... everybody would use this method. There is a reason why people use larger stops instead of having a stop loss of $0.

[maxreish]

Better adjust your stop limit at $5000 if you enter long position with $5200 or $4900. Or it depends if you have 100x leverage you can put $5100 or $5150 as your stop limit. If you put stop limit with the same price it will hit immediately and will just deficit because of the fee.
 But yeah, just like others here telling that if the market will continue to pump, even you set stop loss at the same price, you will still get profit and it will not trigerred.