If you read my post yesterday, you'd remember that I was able to 4x my trading account, while my hodling account remained the same.
If you haven't read the post, you can do that here. If you'd rather not, here's the summary: I basically wanted to find out if holding was more profitable than trading. And my results were that trading was much, much more profitable.
As a result of my results, I got a fair few questions on how I was able to grow my account over 4x in a year. So here's how I did it.
First off, I want to make it clear that there is a high probability the methods I put here would not work for you. This is a high probability method, and if you have no experience trading or have never traded on a demo account, you will lose all your money in a heartbeat. For real.
Also, I want to make it clear that I blew about 2 accounts before figuring out this method of trading. You can't skip the blowing account phase if you really want to be profitable. If you've never blown an account before, chances are you've never doubled one either.
Ok, with all that said, here's how I did it.
The secret: Low volume coins.
Now, I know that many people just scowled at me, and are about to drop the bomb on that thumbs down button. But hear me out.
Here's the thing: These coins can only be traded using bots.
They have super clearly defined support and resistance levels, and they hardly change ranges.
Also, support to resistance usually pays a very huge percentage, usually in the order of 7-8%, and these moves happen multiple times a day.
Assume that you have a $200 account and you only catch one 7% move everyday. Let's also assume you're a crap trader, and you lose 7% on your account 5 times a month. You're also a very dangerous trader and you risk your whole account on each trade.(This is the worst representation of a trader I could come up with)
So let's calculate your profit. You only profit 25 times in a month. So 25×7= 175%. That's a doubler!
Ok. Some might argue that that's too perfect, so let's say you make 7% every OTHER day. Your bad trader characteristics are still in place.
So there are 15 other days in a month. If you lose 7% five times out of those 15, you're only left with 10 days of profit in a month.
10×7 still gives a respectable 70% a month on these coins. If this was your $200 account, your value would be $340 at the end of the month! Amazing stuff!
That's exactly how I did it. The thing was that, I wasn't a bad trader. I diversified my account into a few coins, but my most profitable pair was HOT/BTC on Binance. It got me so much profit in 2019, but that coin has sort of died down this year. Bummer.
So that's how I 4x'd an account. Thanks for reading!
Remember, none of this constitutes financial advice. Do your own research before risking a single dollar in the markets.