Post
Topic
Board Trading Discussion
Re: Do you think this is a good strategy ?
by
Kelvinid
on 23/03/2020, 22:28:11 UTC
Hi all  Smiley

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.