Caishen has been using a simple but very practical strategy for speculating in cryptocurrencies:
1. Divide the funds on hand into five equal parts. For example, if you have 10,000 yuan, divide it into five parts, and use 2,000 yuan for each transaction.
2. Use one part of the funds to buy a currency at the current price.
3. If the currency price drops by 10%, buy another part.
4. When the currency price rises by 10%, sell one part.
5. Repeat the above steps until all the funds are used up or all the coins are sold out.
Under this strategy, once you buy, you don’t have to worry even if the currency price drops, because we will continue to buy when the currency price drops. In fact, if all five parts of the funds are used up, the currency price has at least fallen by nearly 50%. Unless there is a big market waterfall, the currency price will not fall so fast.
From the perspective of income, each sale of funds can bring a 10% profit. Taking a total fund of 100,000 as an example, if 20,000 is used each time, then each sale will earn 2,000 yuan.
However, this strategy also has certain problems. The 10% fluctuation is relatively large, which may make it difficult to complete the transaction, so it takes longer to wait. This will affect the efficiency of the use of funds, because the funds may be idle for a long time or occupied by individual coins.
However, this problem can be solved by reducing the fluctuation range. For example, you can choose to buy currencies with high stability and choose Binance financial products for investment when the funds are idle. This way, you can get extra income while waiting for the currency price to change.
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