Hello to everyone. I believe that DCA is the way to go in crypto and taking profits (TP) is a must. No one really knows where the price of bitcoin will go, but we all love it. I’ve tested this strategy for some time now and want to share it with you. The concept of DCA could be applied to any crypto currency and could by applied to accumulate a fiat or cryptocurrency.
Trade placed with small tp and 6 additional buy orders. Every time price moves lower, I purchase more and move my tp lower. I also have trailing stop activated for tp in case if the price just goes parabolic.
Current trade:
Bought @ 57033.30
TP: 57832.09
Trade placed with small tp and 6 additional buy orders. Every time price moves lower, I purchase more and move my tp lower. I also have trailing stop activated for tp in case if the price just goes parabolic.
Current trade:
Bought @ 57033.30
TP: 57832.09
Trade active:
SO 1 has been triggered, moving tp to 57715.67
Average buy price is 56918.48
Average buy price is 56918.48
Trade closed: target reached:
TP was triggered