Hello everyone, I want to share about my strategy with bitcoin and I need your advice.
So the example is, I've buy bitcoin in price $2000/btc with amount $750 so I have 0.375 btc. When the price climb to $4100/btc, I sell my 0.184 btc to get my first capital and get $754.4 and 0.191 btc left .then when the price dump again to around $3900, I buy it again with my $754.4, so I get 0.193xxx btc and my total btc is 0.384xx. With my $750 I can keep increase my bitcoin with this strategy. So what do you think. Am I doing right with my bitcoin? Or you have any advice. Please explain.
There are some traders that I know use this strategy but they use it in altcoins. Your strategy is good because you did not lose anything since you already got back your capital and your profit is earning as well. In this way, you can multiply your coins in a short amount of time than just merely saving it in your wallet. It is risky since you need to have the right timing when to buy and to sell the coins and as long as you have the patience and knowledge in trading then you are in your way to become a profitable trader.