Tuesday, 13 September 2016

A SIMPLE AND EFFECTIVE TRADING STRATEGY FOR THE BUSY EXECUTIVE, STUDENTS, YOUTH CORPERS (1 WEEK PLAN)

Crypto currency trading requires your time and constant monitoring of price movements. Maximizing profits is a function of ones ability to monitor the price of a coin at specific and regular intervals.

However, not everyone who is interested in crypto trading has the whole time in the world to be monitoring a trade always.

People like the busy executives, students, Youth corpers may not have the time to monitor the price movement of a coin frequently.

So is there a way out for these set of people? Yes.


1 WEEK PLAN WITH A 4 HRS STRICT MONITORING SCHEDULE

Conditions that must be met

  1. 1 bitcoin or more(my recommendations)

  1. the coin to invest must
    1. be among the 1st ten coins in terms of volume.
    2. Have a strong buy support say from 100btc and above.
    3. Be a utility coin
    4. Be traded  in at least 2 exchanges
    5. Must have a wallet outside the exchange you intend using.


WHAT YOU NEED TO HAVE AND MUST KNOW AS A TRADER

  1. 1 bitcoin or more(my recommendations)

  1. basic trading skills which include the following

    1. how to deposit and withdraw your coins
    2. how to place a buy order
    3. how to place a sell order
    4. how to fill a best sell order(buying directly from the order books)
    5. how to fill a best buy order(selling directly from the order books)
    6. how to use the buy/ sell stop limit
    7. understanding the unitary system of a coin


TARGET

The target is to achieve 5% to 50% or more within a week of trade.



If the above conditions are met then we can begin thus.


I will be using 1 bitcoin as a case study. More bitcoins will be preferable if you can afford it.



  1. Start by splitting the bitcoin in 5 fractions of 0.2 btc each.

  1. Determine the interval with which you choose to monitor your trade. I recommend every 4 hrs in a day within the 1 week. (42 times in a week) and you must be disciplined about the interval you eventually choose.

  1.  At this point you select the coin you wish to invest in and then open a trade with 0.2 btc and note the entry price.

  1. place a sell order of 10% premium to your entry price.(eg  if your entry is say 0.0025btc then a 10% sell order will be 0.00275 btc). Check  your trade after 4 hrs. just remember that your target range is 5% - 50% hence be realistic when placing your sell order based on the price actions and volatility you have noticed.

  1. If after 4 hrs your sell order is filled, then you start the process again. However, if it falls below the 10% sell order mark but it is within your target range say 5% - 9% then I recommend you close the trade and start the process again.

  1. If after 4 hrs the price of the coin falls below your entry price by 5% or more. Then buy back with another 0.2btc.

  1. At this point you have spent 0.4 btc, calculate your average buy price and set a 10% sell order and wait another 4 hrs to check.

  1. Assuming there is constant 5% or more fall in price and you have exhausted your reserve bitcoin. As in you have used up all the 1 btc you split. Then it is recommended you edge  your loss by making use of  the stop limit. You can set between 1% to 10% stop limit. This is the % loss you are willing to take in case the coin decides to dip further.

From experience, utility coins usually enjoys favorable volatility, that is why I recommend such coins if you decide to use this strategy. This way you are sure of always coming out with a profit and in the worst case scenario a break even within a short period of time.



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