How to use the Golden Cross Technique for Daily Trading on Bittrex and get 100$/day.

Hey Guys,

Today I will talk about the Golden Cross Technique that I'm using for my daily trading on Bittrex. I called them more "mini-trading" because I don't get a lot of profit from it (as I don't take too much risk neither). But I still make profit and if you do 4-5 mini-trading per day, you can still get 100$/day

I'm just sharing my experience and how I trade, do you own research before trading.

Definition from Investopodia :

The Golden Cross technique is a bullish breakout pattern formed from a crossover involving a security's short-term moving average breaking above its long-term moving average or resistance level.

In simple word, this technique helps you to buy low and sell high.

Use :

For a daily use of this technique, the best and easiest exchange is Bittrex.

For the example, I decided to work around XEM (New Economy Movement).

Procedure :

• On Bittrex, go to the coin you want to trade
• Check the chart is based on "30 min" Timeline
• Use the candle chart as it would be easier to check the high/open/low/close price.
• Go on "Studies" and click "Moving average"
• Now for your short term moving average, you will use :

Make sure it is on "13 min period" with "Exponential" type and choose the color you want.

• Now for your long-term moving average, you will use :

Make sure it is on "34 min period" with "Exponential" type and choose the color you want.

• Have a look to your moving average : you expect your short moving average to be above your long moving average (the red line is above the blue line in my example). It is a sign of growing price from your coin.

• Check out for any bullish breakout : there are where you want to buy (as follow) or where you want to sell. But if you missed it, you can still catch the train.

• Bare in mind, most of the time, a price will touch its low and high level couple of times per day. This is how you will make money. By deciding where to buy low and where to sell high. I suggest to not take too much risk for your first transaction and choose a small range between your low price and high price. Have a look to the example : I decided to choose a very reasonable low price when you see the evolution of the candles.

Where there is the cursor, it is where I will decide to buy : 0.00005860 B

• Now that you set your low price, you want to set your high price. Again in the example I will choose a very reasonable high price as :

Where there is the cursor , it is where I will decide to sell : 0.00005930 B

• As per the example above, here is the order books. You will have to set the 2 transactions in the same time (buy and then sell)

Invest 1 BTC at 0.00005860 B and get around 17022 XEM.
With the exact same amount of XEM, sell it at 0.00005930 to get 1.00570896 BTC

Profit = 0.00570896 BTC
Accurate Bitcoin Price = 3745$ hence 3745 x 0.00570896 = 21.37
Profit = 21.37$

If you do 5 trade like this per day (which is easy to do) you could do around 100$ per day.

Note : While you set your transaction, leave them and come back later. It is a technique to use for people with an other job. Don't stay in front of the screen watching the evolution of the price.

Let me know if you are using this technique already and if not, if you are willing to use it.
Thanks for reading,

Joris