Today I'm going to show you how I have managed to stay profitable using this simple trick that ensures you make profitable trades.
Now before we begin there are some conditions to consider before using this strategy:
1) You can't use this strategy every day, this strategy only works when opportunities arise.
2) it's not 100% perfect but it works at least 80% of the time and I'll show you how to handle the 20% when it doesn't go according to your plan.
3) If you want the strategy to work then you should know you can only use it to scalp 5-10%. If you try to get more profit, it might reverse on you.
Now, to use this strategy we are going to use only one indicator on the charts, which is called the Bollinger bands. To find the Bollinger bands, go to your favorite charting sites such as tradingview.com or charts.trader.pro and look for indicators.
Then just type "Bollinger bands" in the search bar and you should get something that looks like this.
Now, if you look at the charts, you can see from the past price action that anytime the price of bitcoin goes below the Bollinger bands drastically, it usually bounces back so the price goes back into the Bollinger bands.
Example 1
Example 2
Also anytime the price goes above the bollinger bands, then it goes back down into the bands. Basically, the price is meant to stay in the bollinger bands, so anytime it goes up or down below the bands, it will always find it's way back into the bands.
Example 3
Example 4
So as you can see, this can be a very useful indicator for predicting how the markets might behave. Heres is a chart of my trading record for the past 90 days just by following this simple strategy
As you can see, it's a slow and steady climb upwards and I don't trade every day, only when I see the price go above or below the bands.
When things don't go according to plan:
Sometimes, when we go below the Bollinger bands, it's doesn't bounce right back, it's might go further down before bouncing up.
Now, the way to make this trade is to only use 20% of your capital when following this strategy, so if the price goes down further then you can buy more at a lower price.
For example, if you have 100$ and you place a 20$ trade when the price goes below the bands, if it goes down further, you buy ($40) double of what you bought initially. That will automatically make you in profit and then you can sell when the price bounces back up.
As always trading is risky but it is also rewarding if you can follow this simple strategy. You don't have to invest more than you can afford to lose and you can also get free money to practice trading with until you feel confident enough.
Follow this guide to get free btc to practice trading with https://read.cash/@thesatoshistore/get-free-btc-and-double-your-btc-with-this-trick-e27f1702
I know some of you will say trading is too risky in the comments, but so is starting a business or even getting a surgery. In life, you must take risks if you want to achieve anything, so practice practice practice and don't be too scared to take risks.
Also see this post https://read.cash/@thesatoshistore/the-moving-train-an-analogy-on-when-to-enter-a-trade-b6740585
I hope you found this post useful, if you did, then smash the subscribe button and upvote for more posts like this. Cheers guys!
I find this useful, though as a beginner I find it hard to understand and interpret this strategy :) keep on posting, thanks