We must monitor the market as often as possible, to get a dump position. After have dump position, you can immediately buy bitcoin
at that price. After that, immediately set a target sell, don't take too much profit, just 1-2% profit. Do it like that every day of the month
can get about 20% profit. That is my trading pump and dump strategy in short period. But this strategy includes very high risk, sometimes
the price cannot be controlled when we buy in dump position, it will be even more dump soon. So from that use money that we can afford
to lose.
I don't think that monitoring the market always will help because it will get you tired and exhausted which could bring in frustration and when you need to get the target hit,cyou miss it. But I support taking small profit as you mentioned. Taking small profit helps trader not to be trapped, the reason for losses could be huge appetite for profit.
Small profits are effective when we are working with altcoins but in the case of bitcoin I will suggest going for long term trading because it does not fluctuate all the time and you will gradually feel frustrated whereas you can try it with altcoins. Altcoins will be able to produce small profits on daily or weekly basis to keep you contended but for huge money, you have to join bitcoin.