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
I don't find this strategy viable for a couple of reasons:
1. Most alts are declining.
2. You cannot predict the movement of the smaller alts where every single "news" is moving the price.
2. Fees will eat you up. Especially if you want to convert crypto <> fiat every time.
This sounds more like a lottery than trading.