摘要：Thisopenedanopportunityforhimtobuyotheraltcoins3)Hestartedtolookforaltcoinstheyhavetwothings:PricedropandLiquidity...
This guy shared his story of how he was able to outsmart the market by making almost $1000 in about 15 mins doing these eight things.
1) This guy believes a lot of traders especially new traders believe “trading to be complicated” which is why they use too many indicators to decide what price to follow.
For him, he did the opposite. He waited for a dip
2) He noticed the price of BTC at that time was consolidating for a while and then it went down in price. This opened an opportunity for him to buy other alt coins.
3) He started to look for altcoins they have two things: Price drop and Liquidity.
A coin should have good Liquidity. Why people say don’t trade penny coins is because some penny coins have very low liquidity which means there’s not many people willing to buy your coins when you want to sell.
It’s obvious that some traders like to buy high because of fomo and sell low because of dip. This behavior is terrible when trading.
4) He entered the trade with a good capital with a price target: most traders want to trade with $500 and turn in into $5,000 quick, That will lead to bad losses.
He entered the coin at 88 cents and wanted to sell when it hit $1 to $1.3.
5) He set a price target because he didn’t know where the price of the asset was going. He suggests that using an indicator that shows the support and resistance levels is another to be able to determine a realistic price target.
6) He set a stop loss which means he was not risking his full trading capital, he was only risking less than 1% of his capital
Setting a stop loss prevents big losses and it’s not a fancy thing to think that you need to take big risks just because you have a big trading capital.
7) He set a price alert: Setting a price alert allowed him to be able to check in on the price once it reaches a specific amount.
8) The coin went From 88 cents to $1.19 in one day, he sold his coins once it hit the price target he wanted and then he made a gain of $779
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