Trading Strategies

in #bitcoin8 months ago

At the moment, yes, considered full time trading, since other businesses can't be started now with global market declining and the coronavirus outbreak going on. Nevertheless, as you can see, I'm still quite a rookie at trading so I'm still in the initial phase of figuring how platforms work.

I've been pondering over these three approaches of cryptos trading currently:

  1. Just focus on Bitcoin (or any other coin, just trade one).

  2. Trade several coins (maybe 3 to 5) simultaneously.

  3. Trade one coin at a time.

As we all know, Bitcoin often goes into No Trade Zone for quite some time. So I was thinking if we trade another major coin that has low coefficient of correlation to Bitcoin (i.e. price movement does not follow Bitcoin) when Bitcoin is in NTZ, we might be able to increase profit. But after monitoring the cryptos market for some time, I find that 'down time' (duration when there's no open position) between coins is still significant.

The second approach is more like diversifying portfolio to reduce risk and we still suffer from NTZ for each coin.

What's your take on this?

For Indonesia, no reaction is the best reaction.

It might sound cold-blooded, but realistically, Indonesia does not have the medical resources to handle a massive COVID-19 outbreak. If Indonesia tries to contain the outbreak with curfews and quarantines, regional economy will collapse. It's better to let nature takes its course (and tolls).

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