Crypto currency trading can be a very profitable and lucrative venture. However in order to maximize profit, there is a need for discipline trading plan.
I would like to present to you a strict but very effective trading plan if adhered to can fetch you a profit ranging from 5% to 60% monthly all things been equal.
What you need to start
- At least 1 bitcoin (recommended)
- A reputable trading exchange with advanced trading features.
- Identify a healthy and very volatile coin for the day.
- A reliable internet subscription.
- Patience, discipline and constant monitoring.
Target: To make between 1% to 5% or more profit on a daily bases.
The required steps to achieve maximum profit.
Lets assume a very bullish coin as been identified at say 12,000 satoshis.
- Set a 1% or less buy stop limit. If filled, it means your entry point will be 12,120 satoshis.
- Immediately go ahead and set a 2% sell stop limit. Reason been that if the price falls above 2%, you only take that loss and have an opportunity to buy back cheaper. E.g let say it falls by 5% and you buy back at that point you have gained 3% more in the coins.
- Monitor the market until you have gotten a clear cut 1% to 5% profit. Then exit the market and close for the day.
- Repeat the process for the next 29 days. On the 30th day, take stock of your profit to ascertain how much profit you really made at the end of the month.
Assuming an average profit of 3% was made on a daily bases for 30days that will be a whooping 90% return on investment.