Good day steemians! I've been thinking lately what other better strategy can I use to take good amount of profit from my cryptocurrency trading investment. I joined facebook groups and is interacting with people who are also engaged with this type of investment. So far the first thing that they keep on telling people is that we or I should know first the technicalities in the trading world. There are multiple terminologies that they tend to use that they say I should learn first so as reading graphs, candlestick and so on. I'm not against this but is that really necessary? For me I don't think so.
Today I'm going to share to you my very own trading experience, how I deal with it and what strategy i'm using!
First stop, I have accounts on 5 different exchanges. I would no longer mention what exchanges are those but I just simply choose these exchanges due to they have one thing in common, they all support the first coin that I ever traded. I started into the cryptotrading world without having any technical knowledge aside from simple using what God gave me, my brain and lots of common sense. When I started, the only thing that I have in mind is that I will never sell something lower that my buy price.
Majority of the people I know who are engaged in trading prefers to buy and sell coins which are happen to be on the top 10 list of coinmarketcap.com or if not, those coin who belongs to the top list. For me, there's nothing wrong with it but profit wise in terms of percentage, I guess there is a huge difference. I'll give you a one good example.
Litecoin w/c is valued 0.01668520 BTC at the time I'm writing this post, VNTX w/c is valued 0.00000004 BTC and EDDIE w/c is valued 0.00000016 BTC as of the moment. I just choses these coins in random just to stress out my point.
Percentage wise, for someone to earn 10% with Litecoin, its current price should go up to 0.01835372 BTC, with VNTX once the price hits 0.00000005 BTC you earn 20%, with EDDIE to gain around 10% profit, price should only go up to 0.00000018. I fully understand that their volume is way way too different and that Litecoin price keeps on going back and forth all the time. Now what is really my point here?
Some of us here might be doing this kind of stuff during their free time or once they got off from work. Of course people get tired, we need to rest, we encounter stress from work and so on. Some doesn't have the luxury to stay in front of their computer, waiting for the price to go up and down and check when is the perfect time to buy or sell. Not all of us have the opportunity to check the changes on the price every now and then. Due to this, there are instances that me are missing a good amount of profit that's when I came up with this strategy.
Before, I used to buy coins which have good background and project, high volume and good maintaining price and is trading with 100% of my available fund, it was such a huge mistake. Now majority of my coins are priced below 0.00000010 BTC or 10 satoshi. The main reason about this is because if a price of 0.00000002 BTC becomes 0.00000004, that's already 100% profit and I don't have to worry about the price dipping down so much. Lowest possible price for BTC market is at 0.00000001 BTC and coins which are valued no less than 0.00000003 BTC before rarely hits 0.00000001 BTC. So how my strategy works? The screenshot below is from YoBit and I've placed my sell order in VNTX. I've purchase it for a price of 0.00000004 to 0.00000005 BTC and I already sold portion of it at the price of 0.00000006 BTC so that is a profit around 16%.
If you happen to notice, I have multiple pending sell orders on a much higher price. That is because for the past 14 days, this coin spikes up between 0.00000011 to 0.00000024 BTC, off course I don't want to miss that opportunity. Also When I'm selling my coins, I'm only selling a portion of it to secure my capital and a bit of profit, and the remaining coin I'm keeping for it might bring me a higher amount of profit, we'll never know when will the price spikes up again. These are my previous buy and sell history.
Effortless trading, that's what I call it.
I do earn without the worries and stress that trading brings to those who keeps track of the price from time to time, reading the candlestick and trying to predict whether the price will go up or high. I don't want to go on all of that trouble. I just simply place my buy and sell order, leave it there and check it whenever I'm free again. For me it gives better profit with less worries. I'm not asking every one to do what I'm doing right now because it is totally up to you but if want a trading experience with no stress at all, you may try this approach. You'll only need no more than 30 minutes to set everything up on different coins and you'll just enjoy the profit soon.