Practical altcoin trading guide for beginners with small amounts
Use this information at your own risk!!!!
Hey people,
Lots of bitcoins fans try to find ways to get and grow bitcoins with a minimal risk. today i`ll share with you my simple way of doing it. you can earn as easy as 50k or 100k Satoshi a day.
a) So basically what you need to do is to go to an altcoin exchange site like: poloniex, bleutrade bittrex and yobit.
b) Once you deposit your coin, usually 100k satoshi, you need to find a market with these parameters:
- Big trading volume in the last 24 hours : not less than 10 bitcoins.
- Huge drop out in the price: it is better to go for 30% - 60% down price.
- Has large interval between selling price and buy price . for example: buying price is 40 satoshi and selling price is 60 satoshi.
c) Next all you have to do is buy law and sale high:
lets get back to the example where buying price is 40 satoshi and selling price is 60 satoshi.
you place a bid around 40, other people are also bidding, so lets assume you bought an altcoin at the price of 43, and invested 10,000 satoshi. so now you have 232.558 coins (232.558 x 43 = 10,000). what you are going to do is to sell it but not at the price of 60, at the price of 53 satoshi and get back 12,325 satoshi. so the total profit is 2,325 satoshis in just one round.
It is very important not to be greedy, and sell your altcoin at lower price than the current bid (we sold it at 53 while theoretical we could have sell it at 60 and gain more profit). This action minimize your risk, because you can never know what will happen to the altcoin, it is better to win small amount every time than losing it with one bad decision.
d) Now you repeat and do the exact as you did on step c) but:
1 ) You might want to increase the amount you buy to gain more profit. Remember at first we invested 10,000 satoshi and ended up with 12,325 satoshi. So now you can invest bigger amount than the initial, for example: 12,325 satoshi.
- When you see that the interval between selling and buying price is getting smaller, for example: buying price 45 selling price 49, it is the right time to get out of the market or to invest small amount.
Have fun!
Please share your trading experience with this method at the comments:
What you describe is called market making. A good way to make some money, but these days you will be facing lots of competition from bots doing the same thing. And it's best to diversify into a few different coins so that a price crash doesn't wipe you out.
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