“Man… Bitcoin rally REKTed me off. I sold all of my Bitcoin last night during the bloody pull back.” One of my friends came to me and complaining about the market last night.
“What if I told you that you’re not the first one telling me this. Are you feeling more comfortable now?” I try to comfort him. “People always tell you to HODL your Bitcoin. They’ll say that you don’t have enough faith and vision in the whole Bitcoin technology. “
“Indeed!! That’s what most of my friends replied!” He agreed with me.
“Well… HODL sounds right, but it is impossible for most investors. I failed to HODL my holdings several times until I learned a special technique. And I earned more than 500% with this strategy.”
Contents
HODL sounds right. But it’s impossible for most investors.
“Buy and HODL.”
That’s what most of the crypto investors told me when I decided to invest in crypto.
But none of them HODL their bags after several pump-and-dumps by the market manipulator.
FOMO comes in and lets us make wrong decisions. Success from HODL is complicated cause of the emotion involved during our investing journey.
As human beings, we’re always trying to buy the bottom and sell the top. We prefer to focus on a short-term PNL rather than long-term profits. HODL is against how human react and our emotion works.
OK. So you’re telling me that it’s impossible to HODL Bitcoin? Yes, and no.
Let’s say you’re willing to go all-in for Bitcoin when the price reaches $10,000. And your dream target for Bitcoin is $100,000. If you’re able to follow this trading plan, it’d be a 10x profit from this trade. But what if the price never reaches $10,000 again? What if it takes ten years to reach $100,000? Do you think you can follow your trading plan and insist on discipline even for such a long time?
Well, the answer is no for most of the investors.
Instead of HODL, this is what you should do.
Now you all have agreed with me that HODLing is impossible and are looking for some change for your future investment strategy.
Again, here’s our trading plan:
- Buy Bitcoin once the price hit $10,000
- Sell Bitcoin when the price hit $100,000
As an experienced investor, I won’t wait for the target buy price with my empty hands. Instead, I’ll buy some Bitcoin immediately at the current price. Keep some USD with me and laddering buy when the price drop. To prevent the price never hit $100,000, I will continue laddering sell when the price surges.
Did you get my point? I’m dividing my principle into several small portions. When the price rise, I sell some part of my Bitcoin and buy some more Bitcoin when the price drops. It’s a no-brainer strategy, and you don’t have to learn several indicators trying to predict the market.
It feels fantastic when we have correct predictions, but it feels sucks when we do it wrong.
So, this is my secret receipt. The next question you have is that how I can follow this strategy? It’s a hassle to placing the orders again and again. Any more manageable way to do that?
These repeatable tasks could be done by the bot easily. And here comes the grid trading bot.
The tool that makes HODL possible.
Grid trading is a strategy that profit from fluctuations; what it does is buy low and sell high in a specific price range. Grid Trading Bot helps you to perform this strategy 24/7.
Learn how to set up a Grid Trading Bot on Pionex.
Simply set a price range from $10,000 to $100,000 for BTC/USDT. It’ll buy some Bitcoin at the current level, keep some USDT with the bot, laddering buy and sell if the price stays within the price range.
Does this strategy work at the current price? Am I too late for this?
Yes, it still works now. As long as you’re bullish with Bitcoin, then use this strategy to prevent you from shaken out by the volatile market.
You might be feeling anxious if this is your first time follow this strategy. The key to success is to use only a small portion of your portfolio you’re willing to lose with this strategy. It would be 5% of my balance, and you could change the percentage you preferred.
Another tip for winning long term is not all-in even when using this strategy. Invest another 10% with a new bot while the price drop 10%, another 10% for another new bot when the price drop again.
If you’re already know how to start a Grid Trading Bot, here’s the parameters that you could use for this HODL If you’re already know how to start a Grid Trading Bot, here are the parameters that you could use for this HODL strategy:
- Upper limit: $150,000
- Lower limit: $15,000
- # of Grids: 150
Currently, the minimum amount to start this bot with the above settings is $679 (BTC = $38,260).
It might be too high for some of the readers. Check out MBTC/USDT trading pair instead. MBTC stands for milliBitcoin, which means 1000 MBTC equal to 1 BTC.
MBTC settings:
- Upper limit: $150
- Lower limit: $15
- # of Grids: 150
- Minimum required balance: $46
The perfect moment to exit from this strategy
We have been talking about the entrance strategy for the whole article. What about the exit strategy? When should I close the bot and walk away with my profit?
Let’s circle back to your initial trading plan, which we plan to take profit when the price hit $100,000. That’s the moment we close the bot. When the price hit $100,000, the bot has already helped you to sold all of your holdings and that’s the moment we close the bot.
FAQ
This Ultra-wide BTC Grid Trading Bot is a long term strategy. The longer BTC stays within the price range and fluctuates, the more profit you earn.
No. Once the price is falling, that’s an opportunity for you to start another Bot. Try to create more bots when the price drops instead of close your bot. Buy the dip, not sell the dip.
You can use this strategy with any of your favorite bags. As long as you’re bullish for long-term, use this strategy to HODL your bags.
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