XRP / BitcoinShort
XRP limit trading
XRP seems to be a fair option for day trading. Volumes are high, prices are low enough to risk yet high enough to make some gains. I would recommend a stop-limit buy of 0.00003721 with a 3720 limit. Aim to sell around 3850. Depending on how much XRP you have, the profit could be decent. Note that I generally run my charts in 1 minute intervals when trading XRP. Anything more just isn't granular enough.
Setting the time to 1 minute reveals a pretty easy to see pattern of Bears and Bulls, and is also a near direct reflection of buy/sell rates, as expected.
Watch for the Bears to drive the price down, look at the history for the day's average floor. I've found XRP generally doesn't drop below the day's floor until after 00:00 Eastern Time. Eventually a new floor will stabilize. When you see a downward trend, setup a stop-limit buy at 0.00003721 with a limit of 3720. (average floor for this weekend). Set up a SL sell near the high of the day. Take note that XRP tends to have a bit of a staircase trend on it's highs. Continue this low/high strategy through the day and you should be able to make some profit. I didn't put in much when I first started trading XRP, but I put in enough to make a measurable profit within an hour by simply reading the charts.
Utilize the tools you have at your disposal, have fun, and turn profits, but most important of all:
Never invest more than you can afford to lose. Do not invest your life savings into a trading market. You absolutely will lose them.
Note: I am not telling you what to do. I am not directing you to invest your hard earned currency into any market. I am simply sharing my experience with Shorting XRP.
Setting the time to 1 minute reveals a pretty easy to see pattern of Bears and Bulls, and is also a near direct reflection of buy/sell rates, as expected.
Watch for the Bears to drive the price down, look at the history for the day's average floor. I've found XRP generally doesn't drop below the day's floor until after 00:00 Eastern Time. Eventually a new floor will stabilize. When you see a downward trend, setup a stop-limit buy at 0.00003721 with a limit of 3720. (average floor for this weekend). Set up a SL sell near the high of the day. Take note that XRP tends to have a bit of a staircase trend on it's highs. Continue this low/high strategy through the day and you should be able to make some profit. I didn't put in much when I first started trading XRP, but I put in enough to make a measurable profit within an hour by simply reading the charts.
Utilize the tools you have at your disposal, have fun, and turn profits, but most important of all:
Never invest more than you can afford to lose. Do not invest your life savings into a trading market. You absolutely will lose them.
Note: I am not telling you what to do. I am not directing you to invest your hard earned currency into any market. I am simply sharing my experience with Shorting XRP.
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