Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 2,993,480 members, 7,293,498 topics. Date: Monday, 06 February 2023 at 11:39 PM

My Strategy To Trading Altcoins And Making Profits. - Business - Nairaland

Nairaland Forum / Nairaland / General / Business / My Strategy To Trading Altcoins And Making Profits. (253 Views)

Fiverr: My Strategy For Getting 13 Orders Daily / Earn 15% - 30% Profit On Your Capital Per Month Trading Altcoins. / Do You Trade Volatility 75 Index? Killing It With My Strategy (2) (3) (4)

(1) (Reply)

My Strategy To Trading Altcoins And Making Profits. by varnaija(f): 2:29am On Jun 26, 2020
This is a short guide about trading cryptocoins. I created this guide for traders, a similar guide for investors will follow shortly.

The following is the guide. I trade on Binance the biggest and most secured in the world. Create an account with them.

1. The corresponding Coin (bitcoin or any of the altcoins) price must break a new high.

2. The price must then pull back (meaning dropped from the all time high)

3. It has to bottom out (bottom out is when it reaches it's lowest point before rising)

4. Therefore set a stop loss of 30% and hold for maximum 30 days.

5. Apply trailing stop loss, (meaning lock in profits on trades while also capping the amount to be lost if the trade doesn't work)

An example is the picture attached, one of my recent trades.

a. I entered a position on 15th May after drop has bottom out.

b. Refer to 12th - 13th May where price started appreciating.

c. Candle on 8th May is important as the daily low.

Happy trading!

Re: My Strategy To Trading Altcoins And Making Profits. by Nueel: 7:56am On Jun 26, 2020
Wonderful! This is more of a long term trading. I guess same strategy is applicable for short term trading using specific exit points?

(1) (Reply)

First Bank Empowering Women Through Firstgem Click Link For Details | E-nigeria! / Purchase our Products on Discount + free delivery / HELP! Chipping Agent For 1688.com

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2023 Oluwaseun Osewa. All rights reserved. See How To Advertise. 37
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.