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
Theoretically speaking you'd think that would be a great strategy but the truth of the matter is that the market volatility makes this 'strategy' completely impractical. I have tried it before thinking it should be fine but this is not trading at all and sometimes within minutes you find that the market dropped below your stop limit and now you're out of the game completely. Some people avoid this issue by going 5% on either side but then even that can be tricky!