Something
Here's a Potential Strategy That I Would Initiate Here
- Go to somewhere like a Mex or anywhere else that offers derivative contracts (leverage at your own discretion).
- Place a long at $0.43.
- Place a S/L at $0.39
- Place a short at $0.43
- Place a S/L at $0.47
What if my S/L on the Long Gets Hit?
- If my S/L gets hit on the long, I cover back over by taking out all the money left on the long and then place 50% of it on the short.
- I take the remaining 50% and then hold that until I feel like the price has hit its bottom and is ready to spring up, then I place another long.
- I would hold the short at that point in time and if the price rises by more than 3-5%, I'd close out the short, keep profits, then let my long trade ride out.
What if my S/L on the Short Gets Hit?
- If my S/L gets hit on the short, I cover back over by taking out all the money left on the short and then place 50% of it on a long trade.
- I take the remaining 50% and then hold that until I feel like the price has hit its very top.
- When that happens, I take the remaining 50% and place that in a short.
- If the long position increases by more than 10%, I draw out 25% of my fiat value in the trade to minimize risk and increase the amount of $$ that I have to hedge the position once again.
- If the long drops by more than 2-5% from the point that its at (context matters, evaluate the situation). I draw everything out and let the short ride.
Bonus Tip: You could even place everything on the short/long the second that you see the top/bottom has been it (depending on which one pans out), then just place a S/L at the entry point. [Price has a general momentum in these markets; up/down].