For these trades to work safely it's all about getting in and out quickly. As soon as BTC picks up again those quick profits evaporate just as quickly. But I do like the strategy, it's potentially far more profitable than trying to jump on the BTC bandwagon just to go from 6900 to 7400.
benji13
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@PatriceB, depends on your definition of quickly. But yeah it could be anywhere btwn a few hours to a couple days. been watching ARK orderbook fighting back and forth for fun hah
The_Shit
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Hard part is to find the bottom... but I guess starting to buy as of now is a good workaround
benji13
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@The_Shit, to me the bottom was when btc had that super wicky candle. That's when I dove it. I actually hesitated and got in a little higher than I wanted but I'm already in 30% profits so it's all good.
The_Shit
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@benji13, i'm averaging down. Got my main chunk from the before bitcoin gold dip. Some were at that same bottom today, so that's why I'm having doubts if they couldn't go deeper next weeks. But I bought the ones that actually went even deeper, like Ark and LSK. Doubts about OMG, but that's cause I don't have that much fiat left :)
benji13
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@The_Shit, Yeah I'm not holding this for more than 2 days. Alts will suffer till late Dec.-Jan. imo, which is when they'll be in their demand zones. Just taking advantage of btc crashing alts for some easy profit.
The_Shit
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@benji13, I see. I'm looking for long-term holding. Not enough time to have my eyes on the charts all the time :) Just trying oldschool buy low, sell high
benji13
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@The_Shit, Wait till late in the year to buy alts with btc, that's when they'll be at their bottom, then come the start of Alt season (Jan.-June) they'll fly high. Hope you're riding up on ARK right now. crazy what it's doing.
The_Shit
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@benji13, I'm coming from fiat. only have half a btc... too litle % for my taste :) I'm at +32% here... top coin! Just show its strenght... Jan will be epic! For sure
benji13
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@The_Shit, I make fiat to crypto charts too, not just crypto to btc, so hopefully I can help you make some money :3
Made that EOS/USD call couple days ago... look at it now