There are many trading plans you can adopt to bring out the result you seek irrespective of the amount of bitcoins you have.
I want to discuss a one week trading plan with 1 bitcoin investment. We shall make use of a one week chart with a 24hr candle stick. This plan is best suited for busy people or part time trader who don’t have the time to be monitoring the market always. But if you are a full time trader like me then this is not the best for you.
Let us start
- first you split your bitcoin in 3 parts 0.3, 0.3. 0.4.
- When you look at the chart we have 7 candle sticks representing buying and selling.
- The first candle stick is the first day of the trading week on a 24 hr interval. Identify the low point where you can enter the market, in this case that will be 0.002348 bitcoin.
- So you purchase whatever coin it is you are dealing with at 0.002348 with 0.3 bitcoins and that will give you about 127.7 of the coins. Take not of the time you bought and the return back 24 hrs later to check.
- 24hrs later will result in the second candle stick. But instead of rising it falls again. At this point identify the lowest point you can buy again with another 0.3 bitcoin. That will be 0.002272 which will give 132 of the coins. Take note of the time you bought and return 24hrs again to check
- This will result in the third candle stick. There is a further fall in price and lowest point is 0.002205. buy with the remaining 0.4 bitcoin. This will give 181 of the coins.
- At this point, find your average buying price. Which will be 0.002272. take note of it and return by 24 hrs again.
- This is the fourth candle stick and there is sign of increase in price. Identify the highest point to sell and make a profit. In this case that point is 0.002281. if you sell at this point you will come out with 1.00364. that is just a profit of 0.00364 amounting to about N527.8 profit which is small but it is still a profit. So patience is required. Leave everything as it is and return the next 24 hrs.
- The fifth candle stick shows a highest point of 0.002540. at this point sell sell sell. You will come out with 1.1176 btc that is a profit of 0.1176 amounting to about N17,052 or so which is very decent profit if you ask me.
- repeat the process again for another week.
NOTE: your ability to identify this high and low points is what determines how much you can make. Also note that results in profit are not always the same.