You can use any exchange
But the examples below are taken from my personal Poloniex account. Note: all funds kept on an exchange are at risk always. The best wallets are the ones where you have your private key in your possession.
The strategy can be used starting at any time, but you may want to look for alt-coins that are currently in -the red- before starting, as those are usually good entry levels. It doesn't really matter which chart or coin, just start trading. Small amounts at first. My list (below) shows I am holding some at 0.25btc, others at 0.50btc and some at 1.0btc which is where I am comfortable. Start with a figure you are okay with, so you are not putting too much at risk. This is your target price and you will be maintaining that price no matter the fluctuation of the the market, no matter the coin.
Some coins are difficult to trade if you are trying to hold more than a bitcoin. Your entry may cause the coin to rise if you are buying $1000 dollars worth - these are generally the coins with lower trade volumes. If you would like to keep everything at 1.0btc, it can be done but you would have to buy in slowly, and it may take several weeks.
It's difficult to tell whether something will move up or continue downward. For that reason, look for an alt coin that is moving downward and buy a little bit. Continue buying until you reach your target. If it moves upward after your first buy, keep buying little by little. Stop when you reach your target.
Maintaining Target levels
Once you have achieved target levels for all of the coins you are trading, you only need to stop in once or twice per day to see if any are out of line. Below you see that we have set 0.15btc worth of NSR to buy - which will bring that asset up to a 0.50btc level. You see, were are not so worried about the price of any asset, but rather, maintaining the set value in the account. Then when you check in at any time, it is easy to see which coin is earning money and which one is declining.
Let a rising coin rise until action decreases. Let declining coins decline until they stabalize into buying opportunities!
Slight fluctuations should be ignored - just wait. The example below shows me looking for a good price to sell some VTC at. I check the buy orders and generally look for a buyer just before the big fish are buying. In other words, if you were to see someone waiting to buy 1btc worth, set your price on the next line above. The ones above that bigger buyer, are the smaller $20-dollar buyers. We can wait for the market to absorb those trades (usually very fast).
Once you find the price you want, enter that figure in the 'Sell' box, Then enter the amount we need to sell in order to bring it back down to an even 1.0 bitcoin - our target. Done!
The above sale is a profit! If VTC position drops to 0.75btc the next day, we buy 0.25btc to bring it back up to 1.0btc. For the last few days I have been coming in and selling 0.2btc worth of VTC which is rising dramatically.
We keep selling as it rises because we don't know when it will drop.
We keep buying when it falls because we don't know when it will rise.
No matter the coin, this system works and builds wealth.
I hope I have explained myself well enough.
Give it a try over the weekend.
Disclaimer: I am not preferring any of the coins shown. It is just my way of trading.
The screen shots are mine.
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