I found a chill way to earn steady profits

Here's the deal: I buy crypto daily with about 10 to 30 bucks, grabbing btc, sol, eth, xrp, tron, ada, xlm, link, and ltc. When prices drop, I scoop up more. If something spikes up a lot, I just sell off everything and then buy back in later. I’ve got a few thousand in total, so I’m just in this routine of buying each coin twice a day, morning and evening, usually with 10 bucks per order. I keep this cycle going until I see decent profits or at least something bigger, then I either sell some or hold onto it and just keep buying again. My USDC and USDT are stacking up nicely, and honestly, this method feels like a money printer. It's covering all my food and daily expenses, so it’s like getting this cash for almost nothing.

This is called averaging. It is a common strategy among some traders. You start with low amount of money, continue to buy if the market is not favouring you to make the market price of the coin closer to the price that your PnL will become positive again. It is a good strategy but you should be careful of it. If you are only buying good coins like bitcoin, that is better. But you should be careful of bear market.

Yep. With BTC and other big coins, volatility won't be such an issue, but the PNL won't be that good, too. And I think for OP it would be best to keep a good track and not lose it due to the coin being rubbish in the long run.

Ser, if you truly think that people will believe in what you have posted, you will be very disappointed. The internet has existed for more than thirty years? Internet users, including newbies, definitely would know if a person was lying. There's also currently too many scammers online, it's becoming very obvious now. Plus your trust-rating may have something to say to our fellow readers.

How long will that strategy work for you? I get it, we’re in a bull market right now, but prices don’t increase consistently or on a regular basis. It might work in the short term, but eventually, mistakes will happen, especially if the altcoin market starts to bleed. Corrections are inevitable, particularly in the altcoin space. Based on the crypto you mentioned, it seems like you’re heavily invested in altcoins compared to Bitcoin. Just be careful and don’t get too sold on your ideas, especially when they haven’t been tested through time.

Stuffs like this are usually easier said than done in reality, like a user already said, the strategy you are talking about is known as averaging, but it's not as easy as you have made it seem, it actually is or seem easy to you because we are in a bull season where from time to time, price of different coins tends to appreciate before the correct, and then appreciate again, and then correct and so and so. In a bear season, I can tell you that this strategy is or will be almost unprofitable except you are ready to hold for a really long time, usually going for as long as more than a year, because in bear season, crypto assets tend to continuesly lose value with very minimal moments of green if actually the asset is good enough to see any green. So, better be careful so you don't end up on the losing side.

You know, this really works at the moment especially if the market is in a positive condition. But if the market turns into bearish and those altcoins you’ve mentioned will be heavily affected, that’s where you will struggle if you stick to this method. While this can be profitable at times, but having this method has certainly its disadvantages. Since you sell every time there is price increase, you are missing opportunities for bigger gains, which could only be done if you hold your coins longer and only sell when a new all time high is achieved. Also, because you are consistent with buying and selling, if you sum up all your transaction fees, obviously you spend a lot. If you compute your profits minus the transaction fees, you will realized that you are only making small amount. Averaging is okay, but observe caution in selecting your coins, so that you won’t waste your time and money in the long run.

A yeah bear market is one of the worst nightmares of many leverage and spot traders and the reason why making statements such as the ops made in the title of this thread could be wrong, saying that a trader can make steady profits in an unpredictable market is somewhat over the roof and far from reality in cryptocurrency trading since uncertainty will always occur with our trading position even though you are trading the most secured coin like Bitcoin, a bear market will still hit you hard at any point in time.

What if someone keeps buying and buying and the market doesn't recover that day, week, month, or year? The trader will have to wait for the market to recover and get back to the same point for them to get their money back, or sell all the bought assets at a loss and then start working on the recovery which might take some time and what if the same thing happens again? So, I don't find this to be as foolproof as you are trying to make it. By the way, as mentioned by another user, your trust rating says that you are likely a scammer which means you make such posts to lure newbies into PMing you and then you probably charge money from them to teach them how they can make a lot of money from trading and then scam them. The statement you made at the end which says it is a money printer does sound fishy.

Take advantage of the moment, it won't last forever. As soon as the market It will turn around, your money printer will stop printing money. You will no longer be able to sell and make a profit, as the price will decrease all the time.

So you must be using DCA with combined approach right? Congrats on your solid achievement then. How do you decide the point at which a coin has gone up quite much and it’s time to sell? Or is it more of a gut feeling based on the current market? Also how do you manage your portfolio's risk especially during market downturns?

OP wants to make all the people who read his/her post to make a presumption that, - "Trading" is easy - He/she is a good "trader" Although I think these sorts of posts don't work on newbies anymore, plus because BitcoinTalk is known to have some nefarious users, I still believe we should warn fellow plebs to be careful.

I shared this strategy on the forum a while ago, but some bigots kicked against it as if it were an abomination. Lo and behold, it works greatly and even earns the investment the multipliers of what should have been made HODLing alone. I term this a smart investment because you know what you are doing, but one should never try it if they are not good at the chart reading. There must be a decisive approach where the investor will know the bearish time and selling time. Bitcoin coin exhibited the two despite being in its bullish season at least 4 times this year and they all worked for me as planned.

He probably just continues to hold. Don't close positions in a loss, especially, if the coins in question are reliable and are showing results in the long perspective. You can just wait things out. That's how I see it, at least.

If that's a printer, everybody would talk about it and only it. So I agree. Each piece of info should be double-checked and analyzed.

It can be stable during the bull - but afterward, it's a no-no zone for me. And yep, holding for a bigger amount of time, as well as fees (depending on where to trade), can change things up drastically. It's not for everyone and it truly has some risks when the cycles transition.

Hmmm. So from what I have read, you mean you buy consistently and when there's a fire sale (like today), you would buy more right? That's what most people do here in BTC and there are a lot of things that you need to consider if you want to do this. I believe completely buying and accepting that it could go up and down would be your challenge. Being emotional with your funds is somewhat the downfall.

You either understand the risk or fail due to it. If the dip continues but the coin is old and has a big cap - you can just hold it. And await the change of seasons. But usually, the dip is then changed by the growth again. The correction doesn't stop as slowly as the dip, though

Sounds good but it'd only ever work if the market was actually going up. I'd imagine a bearish market would be a nightmare for this type of strategy, you'd constantly be buying with no sell point and your assets just continuously decrease in value. Wouldn't say it's money printer, it's  just the basic buy low sell high idea, just that the market doesn't usually let you do so all the time. Definitely sounds easy, but you can only say it so in hindsight imo. Trading is never easy.

Trading is an art just like any other. And much effort is needed for it. And I do agree - that strat would pull you through in the bull market mostly, but not afterward.