Re: Buy 5 coins and wait till each of them grows 10%, then sell
Hey guys,
I am new in the crypto trading and i was analyzing the biggest currencies and I had the following strategy:
Buy 5 coins for 1000EUR each => wait till each of them grows 10% => sell.
If it went down, I still wait until it will go back up +10%. It's ok if it will take weeks.
From my analysis (correct me if I am wrong) it almost always does after a while.
If one of them didn't after a long time, the other 4 should compensate for the loss.
I can imagine it sounds like a basic strategy for experienced traders..
Please share your thoughts!
Thanks
I am new in the crypto trading and i was analyzing the biggest currencies and I had the following strategy:
Buy 5 coins for 1000EUR each => wait till each of them grows 10% => sell.
If it went down, I still wait until it will go back up +10%. It's ok if it will take weeks.
From my analysis (correct me if I am wrong) it almost always does after a while.
If one of them didn't after a long time, the other 4 should compensate for the loss.
I can imagine it sounds like a basic strategy for experienced traders..
Please share your thoughts!
Thanks
This analysis will not applicable in some scenario since we have to consider many things before buying some coins, but you will have a greater chance to get a profit if you buy those top coins and not those hyped coins which is just newly pump and have a questionable growth. And if you fall for bad coins in the market provably you will end up bag holding those shit coins and lose your capital.