I do this way then no risk and i earn good
I do this way then no risk and i earn good
What i do is i choose altcoins like eth,sol,ltc,trx…and other main altcoins.
I choose the coin wich is lowest from other coins or i think the price quite low.
Then i start simply just buying that coin dca everyday until i have left 40%-50% USDT or USDC so when i have only 50%-60% left USD then i start to find exit point and sell it.
Even If i sell with little profit i have more USD so i can buy more coins and getting bigger money.
My method to trade is to check USD and coin ratio so to make sure i don’t run out of cash.
Little example: initial Investment 100$ i see that ETH price low so i’ll buy everyday without much thinking about it with 2$-3$ DCA – in 10 days i have reached about 30$ in coin so the Critical point and i start to be coutious when to sell the little profit i could make it i’ll sell it.
So i sell for 5% profit wich is small but secure so it’s 1.5$ about so total amount i have for next coin to do same trading 100$+1.5$= 101.5$ so the 1.5$
It’s just example off course do this with bigger money.
Off course one coin at the time once coin done i’ll choose another wich price look like it’s low to me.
This is day trading. Example of scalping is to open a position at maybe when the price dropped to $52000 and you close the position at $52200 in a way that bitcoin increases with 1 to 5 minutes or less than an hour to make the profit. But if you wait for hours to like a day or two days, that is day trading.
Scalping means you buy and sell a coin or open and close a position within minutes. It is a very risky type of trading.
What the OP explained is different. It is called averaging. It is one of the good ways a trader can make money. But the time to make each average is very important. If done wrongly, it may later still lead to lose or opening of the position for a long time.
Scalping are for hurry traders while averaging are for patient traders.
We can call this scalping because when you buy and wait for the smallest opportunity to sell to secure profits is scalping but most times it’s good to carry out this type of trading if someone can’t hold for long.
One could just utilized that opportunity to take small profits just imagine if done with consistency one could end up having enough cash before the month runs out especially when traded with a reasonable amount of money the profit could also been doubled by now, sincerely it’s a good strategy to follow it requires consistent monitoring.