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How to trade profitably with my "degen trading strategy"
If you have never heard of Bityard before or don't know much about them, then I invite you to read my Bityard review article for a dossier on the exchange.
It's basically a cryptocurrency exchange that offers both crypto spot and futures trading, forex, and traditional stock trading.
And we chose Bityard for implementing this strategy because of the assortment of coins and tokens listed on the exchange.
Remember this trading is "safe" but totally "degen" at the same time.
Safe because the coins you will be trading are coins with good fundamentals. These are solid projects that a 10% to 25% price drop within any 24 hours period is a good buying opportunity.
And the degen part is because it requires zero analysis and therefore, risky. You're kind of taking a blind risk by buying a coin simply because it's the biggest or among the biggest losers of the day.
However, this risk seems to be worth it because the coins in question have good staying power.
PS: Check the screenshot above for the prices when I first took it, and their prices now and you'll notice the strategy would have worked for you if you used it.
Only quality cryptocurrencies are listed there (at least for now).
Extremely low trading fees like Binance. So you can keep more of your profit (or at least limit your expenses).
Multiple markets. If you're tired of trading crypto you can switch to Forex or stocks all on the same exchange. You can also trade spot and futures from the same account as well.
Daily (mining) free airdrop of the BYD token. I got 13 of those right now but it seems to be of little use at the moment. Let's see what the future holds for the token.
And the last one, their copy trading feature where you basically subscribe to professional traders and your account automatically places every trade they place for themselves. I already wrote a post on copy trading for you to learn how it works What is copy trading and how does it work?Check it out.
So you can see why Bityard is a perfect place to execute this degen trading strategy without risking being wrecked.
PS: Trade only coins you're willing to HODL longer if the market moves against you or you did not hit your sell target fast enough.
So why can't I apply this "degen trading strategy" on other exchanges?
Because you'll almost always end up buying a shitcoin. There're no shitcoins on Bityard.
What's been your trading experience on Bityard? Share with us in the comments section below.