HomeОбразованиеRelated VideosMore From: CryptoCoin Mastery

How To Do Dollar Cost Averaging To Maximize Profits In Cryptocurrency Trading

30 ratings | 888 views
Free Stuff: https://cryptocoinmastery.com/cryptocurrency-cheat-sheet/ My Private Signal Group: https://cryptocoinmastery.com/cryptosig/ Have you ever found yourself feeling scared after placing a trade? If so, you are most likely putting too much capital into the trade for the amount of confidence that you have in yourself as an investor. Confidence is key and too many traders lack it. One of the best strategies to help build confidence and limit emotions is "dollar cost averaging". It is a simple concept that consists of splitting up your capital investment and buying at different pricing levels.  Dollar cost averaging is effective because it decreases the break-even point of a trade. In the video above, I was able to decrease the break-even point of a BTC trade by nearly $2000. While doing this, I am also significantly decreasing my risk. The best way to set-up a dollar cost averaging strategy is when a coin is starting a possible bearish trend. In this situation, it is difficult to see how low the coin is going to go. I suggest splitting up the planned investment into 5 different parts and placing limit buy orders at the previous support levels of the coin. Why choose support levels? If the coin bounces off the support and ends up in a bullish trend, you bought the bottom. If the coin breaks the support and falls, you have another buy order set up at the next support to help protect yourself.  Trading without emotion is more important than anything else. 90% of the mistakes that traders make are due to their emotions. Using dollar cost averaging is going to help limit emotions and give you a greater potential upside than a "lump sum" investment.  https://cryptocoinmastery.com/dollar-cost-averaging-maximize-profits/
Html code for embedding videos on your blog
Text Comments (4)
Rachael Rachael (1 year ago)
Amazing! Wish I would have watched these in order, but backwards works too! Great info! Thank you!
Paul D (1 year ago)
Thank you so much, very helpful
Zer0 Gravity (1 year ago)
Always providing excellent information. Gracias! Merry Christmas!🎄
Tor Ivan Boine (1 year ago)
Nice explanation Kyle. Keep em coming :)

Would you like to comment?

Join YouTube for a free account, or sign in if you are already a member.