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
Since it seems that it doesn't matter to you when to enter the market and your strategy is hardcoded to get out of the coins in which invested when they grow 10% then the success or failure of your strategy will depend entirely on the coins that you select to perform the strategy, just a warning, if you decide to try the strategy with coins out of the top 20 there is no guarantee at all that you are going to recover your money.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
Now even if you perform that strategy with the top 20 coins in the market that is still not a guarantee but at least your chances are better, however your strategy is going to depend a lot in the cycle of the market in which you happen to make this investment, if you happen to invest at the peak of the movement of the coin then you are not going to have to wait weeks to get that 10% you will probably have to wait for years.