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
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
This is not a good strategy. Because the Bitcoin market is very volatile. So your stoploss is likely to get hit shortly. With this strategy you will be able to profit when prices rise. And for that you have to look at the market all the time. Because your the stoploss may hit and move up the market. So always keep an eye on.