Essential Skills for Trading Virtual Currencies: Spot Grid Method

Remember, the spot grid method is only suitable for range trading and not for one-sided upward or downward trends. One-sided markets are more suitable for contracts.😀

Step 1: Implement Risk Control.

1) Determine the maximum drawdown and decisively stop loss when reached;

2) Find a variety that won't die; large coins are suitable;

3) Have stable cash flow; if you happen to enter at the peak, you will get stuck tightly.

Step 2: Preliminary Operations for the Grid.

1) Determine the upper and lower price limits of the grid: For example, if you judge that BTC will fluctuate between 90,000 and 100,000, take the middle value of 95,000 as the midpoint, take all profits at 100,000, and fill the spot grid position below 90,000;

2) Determine how many grids to divide: If divided into 10 grids, then every 1,000 USD is one grid, and each grid buys one portion of funds;

3) Determine the profit-taking line, such as taking profits on every 6%; if you bought at 90,000, you should sell at 95,400.

Step 3: Strictly Execute.

Do not let emotions affect you; don't be afraid to stop loss, or think you can earn more and thus not take profits. Please treat yourself as an emotionless grid machine.

BTC has been fluctuating between 92,000 and 100,000 for a month; if it were you, what upper and lower limits, grid prices, and profit-taking intervals would you set?

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