My trading stradegy
My trading stradegy
Mostly binance futures If i trade but now due to financial problems i can’t trade so much and don’t have enough funds…untfortunately
I look for top gainers sometimes they go even higher so if coin is up 20% it might trap If i see still coin can move up i move on to short altcoins i look for bigger Marketcap altcoins If they are up 5% then i Open short and If there is no news or any reasons for further pump i Open short.
Right now i see etc/usdt extremly over-bought and fake-out so i did Open short it now. Price 17.065$ on binance i think good entry for short with this price now.
Short position for altcoins are risky because they can go 2x more at anytime, but if it is ether that you used it for, I mean ETHUSDT, that is still a good idea. If you use low leverage or 1x, you will be able to make profit from it. But it is good sometimes to gain and close your position as early as possible because the market that you think is overbought might not later reduce much and later people may buy it more. If bitcoin is not yet $30000, my mind will not be at rest and bitcoin and other coins may go up higher.
So your strategy is simply to just short coins and tokens that already pumped a decent amount, but has no narrative to support the pump? I don’t know mate — that’s too overly simplistic to work consistently to the point that I’m pretty sure every single trader has thought of this “strategy” when they were just beginners.
But in the end, if you can make it work, then good on you!