Bitcoin Trading Case Investigate #Two: 14% Profit in seven Days – one hundred one Reasons to Use Bitcoin
Bitcoin Trading Case Investigate #Two: 14% Profit in seven Days
It’s been a duo weeks since I published my last case probe but I didn’t stop trading and keeping track of my results. I have adapted my strategy based on the data that I collected from my last case explore and have found some ways to reduce the time it takes me to place my trades. This probe was less profitable but I am still fairly sated with the results since this examine was only a one week span and I still managed to produce a profit greater than 10%.
Case Examine Parameters
Case Probe Term: May 9th – May 15th (1 Week).
Entry Strategy: Buy .01 BTC every single time I receive a buy signal.
Exit Strategy: For this particular case investigate, I sold off any given position if it had enhanced at least 20% but attempted to get at least 40% before I sold. I am also holding every coin that is presently at a loss in an attempt to sell it at a later date at a profit.
Total Buy Orders: I received a total of eighty eight buy signals and bought .01 BTC at each one for a total of .88 BTC invested.
Gross Come back: 67/88 positions were profitable. So far, my gross comeback on investment is 1.07 BTC on an initial investment of .88 BTC. That’s a gross profit of .Nineteen BTC / 21% in seven days.
Net Profit: My gross profit of .Nineteen BTC – .06 BTC for the buy signals = a net profit of .13 Bitcoins in seven days. That’s a 14.77% profit in just seven days and I still receive the buy signals for another twenty three days.
In just seven days, I have learned even more about how the crypto markets work. Here’s a duo things that I noticed and will adapt my strategy in the future.
More Powerful Spreadsheet Directions: When I very first began off I only had some basic understanding of how Google Sheets work but now, just a few weeks later, I have learned fairly a bit about how they can be used to reduce the amount of time I spend to make trades. I have used the conditional formatting feature to switch the color of the cells based on what my profit margins are. On my last investigate, I only used green and crimson to demonstrate me whether or not a position was profitable. Now, with the help of conditional formatting, I know my profit and loss simply by looking at the color of the cells.
My next stir is to figure out how the Poloniex API works so I can import live price tickers into my spreadsheet for real-time comparison to each buy signal. This will save me so much time when it comes time to sell off a position and might also help me with making some trades without the need for a buy signal. This is going to be very significant in the future because one of my upcoming case studies will not be focused on trading on Poloniex.
Hold Currencies vs. Taking Loss: On my last probe, my exit strategy was to sell 100% of my positions at the end of the explore but this time I took a different treatment. I am holding every currency until it is profitable. This might take me a while but I think that most coins will come back around within about sixty days. I can’t be sure so I will reevaluate these positions, around the 9th of June with a follow-up case probe.
My Past Case Studies
I plan on doing 2-4 case studies each month with each explore using a slightly different strategy. If you would like to learn more about the other studies that I have conducted, please take some time to read through them below.
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What instruments do you use to make the most calculated trades? Let us know with a comment below or a tweet at @BitcoinReasons