How to be a good crypto trader, or following the HODL Generator strategy pays off!
Of course, you are a crypto trader when you sell the cryptocurrency you have bought, but how successfully you do it, or how profitably you do it, is not the only thing that matters. That's why there are countless techniques you can use to optimise your profits, but perhaps the best way to maximise your profits is to follow the HODL Generator strategy!
In this blog post, we'll look at what HODL is, and what additional adjustments you can make to your Generator Bots.
But what is HODL?
According to the original story, a slightly inebriated user of a Bitcoin forum blurted out in a post that he didn't really know when to sell and when to buy. He expressed his concern that his own profits would be skimmed off by others who would make better business moves thanks to their much better situational awareness.
The whisky-drunk user decided then and there to wait, but unfortunately the word 'hold' was no longer spelled correctly, so the word 'hodl' slipped from his fingers. Of course, the story itself is hilarious, but the desperate trader has given a name to an important strategy.
HODL has since become a separate strategy that relies on waiting, waiting for the bot to sell or buy only when and at a level that is really worth it to you.
Of course, this is a higher level, so if you're just learning about trading bots, it's worth trying our demo version, where you can make risk-free trials instead of outright buys.
Upgrade your Generator Stick!
If you're already well-versed and have read all our previous blog posts, you'll know that you don't have to sit in front of your computer all day to be a successful trader, but it's important to set up your Generator Bot in the right way to make it a really valuable and rewarding activity.
For success, it's worth tweaking the settings a bit, although it's important to know that none of the parameters are mandatory. Instead, you can set price levels, percentages and how many dollars you want to spend on each step. Similarly, you can set the sales levels, but that is not mandatory either.
You can also set it to sell at a fixed position, so that it can monitor what sales and purchases have already been made, and you can set a fixed profit, so that what the Generator bot buys for you it will be able to sell for a fixed amount.
Of course, you can also set a limit, which can be a bot type that applies to all folders, so you don't have to bother with settings one by one, and you can even delete entire bots.
Complicated, but not impossible!
For beginners, the whole system may seem very complicated and it is indeed easy to get lost in the details, but the mission of a passive income stream is not impossible!
We absolutely believe that if you master the relevant material from our knowledge base, if you watch all our YouTube videos, you will see how professional the whole system can work - even automated.
If, on the other hand, you feel stuck or could use some personalised training, feel free to contact us and we'll help you become a professional crypto trader!