This post is especially for all those people who are confused either to invest in this market condition or to hold.
In this post I will try to discuss one of the best trading techniques which will help you to earn good money and also to be with cash all the time.
You may have tried many trading techniques but to be honest not all of them are working and surely you are tired of doing wrong trades and losing money.
This is how 90% of the people always lose in the trading. One of the main reason is that they don't have enough knowledge about trading. They don't know about the techniques and other ways to increase their win percentage.
One of the best ways where you can do save trading is spot DCA which is one of the best feature option in Binance.
You can find spot DCA in trading bots in Binance exchange which is one of the best feature and also best facility provided to earn good income.
First of all, you have to find any of the crypto coin which must be fundamentally strong and also must not be high volatile, which means its price does not move too fast.
Let's suppose I choose hive coin for my trading. The reason is that it's not much volatile and also a strong fundamental coin which has less price movement.
What I will do is I will find the range according to one day time frame where the price stays within.
After finding the range of the coin I will set my DCA in eight layers and will keep on buying after each layer doubling the price, which means that if the price of hive moves 10% down, my all 8 layers will be buy and my average will be very near to my buying.
This means only after moving 2% upside I will be in break even and will enter into profit zone.
Also below the range level if in case the market crash I put stop loss so that my trade ends. In this case, you will book a small loss as compared to if you are stuck with that coin for years.
Spot DCA will help you to lower your average and continues on taking profit at each level.
What do you people think about spot DCA strategy? Do you think it's one of the safest trading ways? Will be glad to see your answers in the comment section.
I hope you find this post useful and informative. If you do, please remember to reblog it so that it reaches as many people as possible and that they can benefit the most from it. Also, remember to upvote, which will help me financially and grow my account.
IMAGE TAKEN AND EDITED IN CANVA
Thank You!
Best Wishes.