Quote:
Originally Posted by crucifissio
example simplified trade:
lets say BTC just dipped say 1% , this means other cryptos have tanked 2-3%...I have USD and I want to get in and make some money on the rebound that should theoretically happen...I do NOT know if it will go up or down, so I will NOT buy and hope...what I will do is set a buy order a bit above the current price for something that is not BTC (keep in mind other cryptos will rebound harder than BTC)...if my condition is met, and the price goes up, the buy order will be automatically executed and I will get a notification...BEEP!...then I follow what is going on with a tight stop loss...opening a position costs me 0.05% and with a tight stop loss I can afford to be stopped out...if the price does not go up, I have lost 0 and I now have more buying power...
|
Just stop. I've been trading stocks and options for 25 years. You will not convince me you're using buy orders and stop losses to get .5% here and there. There's no way in hell every time your buy orders get picked up they never reverse, they only go up and you sell for your 1/2%