A simple day-trading trick that gets you free money without losing any crypto
Before you get into this trick, you have to keep 2 things in mind.
- This trick works best in a bear market.
- This trick is very risky! Do it at your own peril.
Okay, the trick is very simple and involves three steps.
- Sell high
- Buy more lower
- Sell the difference
Just yesterday, the price of 1 ETH was $528. So, I sold a total of 10 ETH for approximately $5270 (including fees). A few minutes later, the price dropped to $521. I then bought some 10.008 ETH.
Finally, I withdrew 10 ETH from my GDAX account, sold the remaining 0.08 ETH and then pocketed approximately $42.
I had 10 ETH at the start. I still have 10 ETH. Plus, I now have $42.
Alternately, I could have kept that extra ETH and sold it for a higher price. That way, I could have slowly increased either my USD or my ETH.
Note: Focus on 1 currency at a time. Either focus on getting more ETH or getting more USD. I focussed on getting more USD
I'd like to make this a default operating procedure during bear markets, but I need to work my nerves up first!
Just as every other crypto trading strategy this one requires an access to a time machine to work perfectly! ;) How else can you know that you are really selling "high" and buying "low"? It all seems so easy an obvious when you look at historical data, not so obvious at the moment...
That's why it's most efficient in a bear market. When you think the price will likely go down, you sell. Then you take even the smallest of difference. Also it's very risky. :)
Anyway, thanks for sharing! Maybe I'll give this strategy a try. I'm not so bold to risk 10 ETH, but something like 0.1 ETH...why not!
Keep posting interesting stuff like this! :)
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