bitshares trading strategies

in #bitshares5 years ago

So I'm finally dipping my toes into the bitshares ecosystem. Bitshares seem immensely popular on steemit (I guess because it also has a Graphene blockchain and low fees?) And I'm starting to be a fan as well.

So I want to share and hopefully even learn some good trading strategies for the bitshares DEX.
I know that about 90% of the cryptocommunity is saying to just buy and hold, but I want to learn a bit about trading in the meantime.

So far I've been trying to play the spread on bts-bitUSD (which seems to get smaller and smaller everyday...)
Screen Shot 2017-12-31 at 04.19.20.jpg

So basically I want to grow my bitshares stake, so that's my base currency.
I've chosen bitUSD because it has a high market volume.

So I place a buy order just over the highest bid and immediately place a sell order at +5% profit, and for now I'm doing it without a stop loss and prefer to wait it out since anyway I only buy bitUSD at cheap-ish prices.

I just manually oversee the trades and sell back if I start to panic completely, but I'm convincing myself that I'm only investing pocket money so I'll be fine even if I should have had a proper stop loss.

So what do you think about this approach?
Do you have a killer trading strategy you want to share? or maybe even a bitshares buying bot that actually works?

I'll be grateful for any tips and comments!

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Excellent that you have started trading on the Bitshares DEX!

I've been trading for a while and have had some success with trading. I'm testing out a refined strategy for trading on the BTS:BitUSD and BTS:BitCNY markets.

I will be posting some about it, but may also put together a small group of people who are wanting to learn more.

That's great, I'll definitely be following you, trying to pick up knowledge along the way!

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