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NOTE:

  1. The purpose of this guide is to accumulate as much Bitcoin as possible - as opposed to Euro/Dollars
  2. NEVER invest your whole Bitcoin stack! 70% of my cryptocurrencies are invested in Bitcoin or in long term projects - whilst the remaining 30% is dedicated to day trading!
  3. Whenever percentages (%) are mentioned - they refer to the increase or decrease of BTC not Euro/Dollars


STEP 1: GO ON BITTREX


Bittrex is one of the most trusted exchanges available - It has been operating from the USA since 2014 and you can safely buy and sell hundreds of cryptocurrencies.







STEP 2: REVIEW THE MARKET



At this stage you want to get a feel of how the general market is doing - in particular you want to pay more attention towards ‘famous’ coins, they will have a higher trading volume and are often ranked relatively high on www.coinmarketcap.com


The reason why you want to focus on ‘famous’ coins is because they have a lower chance of failing in comparison to less established ones that just entered the market.







STEP 3: LOOK FOR DECLINING COINS


Now that you have identified ‘famous’ coins - you need to focus on the ones that are experiencing a decline in value.


Anything from 8% to 20% - we will profit on that!



STEP 4: DO YOUR RESEARCH


It is vital to understand WHY it is declining! Do your research on news, blogs Facebook groups, Reddit - It is extremely important to find an explanation!


If nothing drastic caused a decline on the price but just a sell off - we might have our potential investment!




STEP 5: WAIT AND BUY


At this point it is vital that you don’t move your eyes from the chart - look at how it moves, and wait for a further dip!


If you are not patient enough set some buy orders for the amount you are willing to spend



STEP 6: CALCULATE YOUR RISK


Now you need to critically evaluate how much you think this coin will increase in value - In order to reduce risk I suggest being slightly conservative.


Based on the risk you are willing to take for this trade - set an automatic sell order!


5% to 15% increase Low Risk

15% to 30% increase Medium Risk

30% to 50% increase High Risk


Most of my trades are done at 20% and occasionally at 40% when I know that big announcements, rebrands etc are ahead.


I never trade at higher risk - as it becomes gambling and not trading.



STEP 7: SET SELL ORDER


For this strategy to be efficient and profitable on the long term YOU HAVE TO BE DISCIPLINED - you can’t be greedy!


It is VITAL that you follow your plan - being greedy and waiting for a higher increase makes this gambling and not an efficient strategy.


You will be rewarded on the long term as you will drastically reduce the possibility of losing money!


How to calculate sell order?


If you buy at 0.00000465 BTC and decide to sell at a 25% increase you will set a sell order for 0.00000581 BTC


0.00000465 x 1.25 = 0.00000581 BTC



STEP 8: REPEAT!


As mentioned earlier the purpose of this strategy is to slowly accumulate as much Bitcoin as possible through little trades.


Repeat this process over and over! If you see that the market has no opportunities at a given time, don’t push it and wait a little longer - they will always come!


I wish you lots of success and luck throughout your day trading career!