![]() As I said above, you could use this USDT to get into another trade. You have successfully done a cycle of scalping and you have a nice amount of USDT sitting in you balance. ![]() You can still use scalping to gather more hive. But now the price has shot up to nearly 30 cents. Let's say you wanted to buy hive when it was 12 cents.13 cents.15 cents. Secondly, you don't kill the golden goose! Question must be asked, why is this important.įirst off, I'm a HIVE fanatic regardless of all the sarcasm we spread on discord. Instead I put all of it back into buying HIVE. But for a few of the trades, I didn't move the profit into another trade. Sure you can divert this entire profit to open a position in another trade. So every 2 cent profit margin gives you an absolute profit of $40. Say for example, you are scalping with 2000 HIVE. Okay, this last point needs a bit of explanation. This lesson comes from dada : Find out your strategy, write it down, follow it religiously. I ALWAYS filled my position at a difference of two cents. Despite knowing there was a very good chance of the price of HIVE going below my targeted re-buy, I never waited. My target was always the 2-2.5 cent window. I'll give myself a 70-30 on gut feeling, meaning 70% of the time my gut feeling about my buy and sell orders were correct, 30% of the time it fell agonizingly short. Might sound like vague garbage, but gut feeling goes a long way. The first is of course observing the charts for a long long time.But with HIVE, I relied entirely on taking advantage of these spikes to make $25-40 per trade. See the repeated high and low spikes, you'll hardly see them occurring with high volumes, let alone getting these on a regular basis. But if you're unable to do that, like myself, I find something more sparsely distributed like HIVE to be very suitable. But that requires you to have enough time to stay on top of the market constantly, on a daily basis. If you're a day trader, you can of course scalp with something with a very high volume like Ethereum. But I have been observing HIVE for longer, much much longer to get a good idea of the pattern it follows. I have been scalping HIVE for nearly a month now and my entire trading volume has been generated from the profits of scalping HIVE over the last month. I can not stress this enough, if you want to scalp successfully, you HAVE to identify and understand the pattern, and you have to trust the pattern no matter what. First step is to choose your poison wisely and then observe it for days and weeks and months if necessary to understand the pattern your coin of choice follows. Sounds quite straightforward, but as a beginner trader, you'll see this isn't the easiest to execute from the get go. To say it in simpler words, scalping involves a trader to identify a repetitive price range and buy the lows and sell the highs. Scalping requires a trader to have a strict exit strategy because one large loss could eliminate the many small gains the trader worked to obtain. This generally occurs after a trade is executed and becomes profitable. A trading style that specializes in profiting off of small price changes.
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