Trading Bitcoin Vs Steem on Bittrex
Trading Bitcoin Vs Steem on Bittrex
I've been trading pretty successfully on bittrex and I thought I would share my strategy.
What I trade
I trade bitcoin vs steem so I don't mind holding either coin because I believe in both of them. So If I make a bad trade I will just hold until I can make a profit from bitcoin going up/going down or steem going up/going down. You only lose a trade if you make the trade.
Tradingview.com
I use tradingview.com for my charts. I only use a free account (that's all you need). I use three different indicators. I use two moving average exponential lines. One with the average of every 34 candles and the other with the average of every 13 candles. ( I use 30 min candles ) So when the 13 line (red) goes below the 34 line (black) it is a good buy and when the 13 line goes above the 34 line it's a good sell. The third indicator I use is Fibonacci Bollinger bands (all the other thin lines). This shows good entry and exit points in the market. If the price spikes outside of the Bollinger bands on either side then it is a great buy or sell.
Summary
If you don't trade with emotion and you use the indicators I told you, you can make a great profit trading Bitcoin vs Steem. My rule is, never sell unless the 13 is above and never buy unless the 13 is below. Also just be careful in general and use your head. Make good trades. Don't make a losing trade. ever. You can earn anywhere from 5-25% per week of your trading bankroll if you're smart.
If you have any questions or suggestions let me know.
I hope you enjoyed reading!
- @edolo
tell us what is the size of your trades? What is the usual price diff between your buy and sell, also whats a minimum given the fees?
it depends on a lot of things. Right now I'm just trading with around 100 tethers or sbd. so I'm not making much. But what I do is profitable and easily could be scaled up. I hope to scale my bankroll up to 10,000 tethers or sbd. Minimum to make profit is a 1% trade which is a piece of cake. Fees are .25% per trade, but you have to make two trades. (Buy then sell) It really depends on what im trading but 3-5% is normally where I try to sell just to be safe. But some people are making closer to 10% per trade. If you have a large bank roll you can make some crazy money if you know what you are doing. Once school settles down for me I would like to try and trade professionally (spend 3-6 hours per day). I am 99% sure that I can make my living off of trading. It would be a dream come true. Anyways hope that helps @enki74 sorry I didn't see your comment till now.
Well sir it's real great education of market from you. And u really point the main problem most treader do.
well thanks.
You know about market and it's showing in your post dude it's real helpful to treaders and nice trick .
thanks!
Follow me bro
You have iron nerve. Upvote.
how do you make money by voting for yourself ? interesting