During this time, I have been practicing to see which time cycle and holding period suit me best.
I have tried 1 minute, 3 minutes, 5 minutes, 15 minutes, 1 hour, 4 hours, 1 day, and 1 week, corresponding to ultra-short-term, short-term, and medium to long-term trading. In the end, only short-term and medium-term trading are suitable for me.
When I was doing ultra-short-term trading, I often experienced intense emotional fluctuations, and I would get carried away, not knowing what I should be doing. I felt like I had seized an opportunity. During long-term trading, I held positions for at most a week and a half, and it kept consolidating. I don't know if it was because I wasn't making a profit. I was looking for opportunities from the daily chart, so it might have been a slower process, and it kept oscillating, which eventually affected my mindset. Therefore, I feel that long-term trading is not suitable for me; if the daily chart is like this, then the weekly and monthly charts would be even worse.
In the end, regarding medium to short-term trading, I made the most profit, about 10 times, from the lowest point of 2u to 23u.
The method is quite simple: based on Bitcoin's daily trend, I trade short-term altcoins by looking at the top five gainers and losers. First, I add the top five gainers and losers of the day to my favorites list, and then wait for the next day. For example, if Bitcoin has increased today, I will look at the top five gainers of altcoins and select those with good patterns. I can also use Bitcoin's candlestick chart to predict whether it will rise or fall tomorrow and prepare to ambush the corresponding altcoins in advance.
Published
November 1, 2024
Category
Trading Insights
From
White Chalk
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