A doable strategy?

Hey Veeky Forums just a poorfag here trying to get into the game. I'm wanting to grow my money supply, and an user told me of a particular strategy he has been using for a bit, I wanted to see if this was something that has merit.

-Buy btc
-watch eth charts
-when eth goes down a little bit, buy it up
-set automatic sell order for a .5% gain or 1% gain
-repeat this process 2-3 times a day
-money steadily grows over time

Is this viable? I need to start creating some money, I want to be able to earn from my laptop so I can be on the go. What does biz think of this?

Also, post your strategies and help newbies out if you feel like it!

Bump.

Holy fuck, buy low sell high.

How come nobody thought of that before

What I'm asking is if this is a stable methodology. Just going for the small gain 1% at a time, letting it grow overtime, not throwing multiple hundreds of dollars into meme coins...
Will eth and btc be stable enough to do this for the next few months?

Bumb

another question: I have all my shit on coinbase. I'm not sure how to sell eth --> btc on there. Should I go on a different exchange? The only option for selling on coinbase seems to be selling for USD and putting it in your bank account

yes it works but you can get caught holding bags for quite a long time when the price drops.

Eth dropped to 200 dollars a month ago and sat there for a while. there's also no guarantee it comes back up.

Gotcha. Can I offset this risk by setting alerts for when it drops below a certain threshold, I can just sell off and wait for it to get back to where I bought in at and put my $ back in?

I'm not looking for astronomical gains here, I just want to steadily increase a portion of $ for a little while.

You may need bigger moves than .5% (and it doesn't always do that) because of transaction fees. To get the dips you need to cover costs and make a profit you may have to wait longer periods of time than hoping it stays up and down 2-3 times a day. I'd say it would probably not work on such a micro level without having a decent amount placed on each trade. I could be wrong. The other problem of course is when it dips, you buy and then it falls off a cliff too...and you're a bagger with knee pads until it recovers.

Thanks for the input guys.
I just have very little funds for crypto right now and I wanted to create some. My entire portfolio right now is worth 70 bucks. Most of that is in CAT.

Get on Bittrex. Find your ETH wallet address and sell it for BTC - then you can trade a lot more.

it is doable, BUT you need proper MONEY MANAGEMENT to make profit over the longterm.
So if you have $1000 you can trade with $100 and 10% position size is already pretty fucking big. Stock traders use position sizes 0.2-1% of equity
You can't just go all in all the time and pull that off.

Interesting
>position size
what's this?
>Bittrex
Duly noted, thanks.

That wasn't clear...find your ETH wallet address, send your ETH from coinbase to you Bittrex wallet and then swap it for BTC. Both actions will carry charges so you won't have your full amount once you move it.

was doing this most of yesterday with omg/eth pair, must've done some 20~ trades but the markets arent always going sideways like they've been. it's really boring though

Are you trying to make the bittrex jews even richer?

>For example, if we start with 10,000 USD and risk 1% in each transaction, after 5 failures in a row we still have more than 9,500 USD. That is not a major concern since the loss is not large. The situation looks different when we risk 10%. In this case, almost half our capital is lost! This brings a mental issue with opening our next position since it will need almost a 100% profit to regain parity.

thanks for the info
How much did u make? I don't care about boring. I just want to make money, and I'm not entirely sold on throwing it into meme coins and holding *yet* I at least want to build some capital.
(checked)
thanks.

Buy high sell low

great strat you tard, now kys

Now for some real advice:

You'll find yourself biying and the price going down, many times ot has mothing to do with luck but with whales manipulating the market so you sell back to them. Don"t.
Don't fear, but dont be delusional either, its not always whales, sometimes you kust bought in a bad time.
Learn to read charts, learn to read studies, develop your own methodology

Good luck man, the struggle is real hut we might just make it if we stick to the plan

>constantly losing money to capital gains tax
Yeah, sounds like a smart strategy user

Of course..otherwise you would be able play the beta racist card.

>it dips
>you sell, trying to time the bottom
>immediately rebounds and doubles in value
>pinkwojak.jpg

this is what will happen:

you will buy a dip at 1 and sell at 1.1

then the price will continue to go up and you will buy the next dip at 1.5 and sell at 1.6

so on and so forth and you will think you are hot shit

until you buy the dip at 8 and then it continues falling down to 5

so instead of just buying at 1 and riding up to 8 and winding up at 5 with a nice profit, you will wind up at 5 and lose like 35% because you only made like 5% on the way up and lost 40% on the way down

wrong reply, meant for OP the smarter strategy is to buy early and hold, ALWAYS

TIME IN MARKET BEATS TIMING THE MARKET

>Not having a clue how capital gains tax works

ahahaha kek, nice flawed logic

>tells you to go with the trend and take profit
>tells you to go against the trend and don't cut losses
>finally tells you TIME IN MARKET ALWAYS BEATS TIMING THE MARKET , as proven above
>does't read what he wrotes above

goldfish brain?

...