I've been trading cryptos for the past few weeks with pretty solid gains (~8% per day)

I've been trading cryptos for the past few weeks with pretty solid gains (~8% per day)

All I do is look for the cryptos on polo with less than 100 btc volume that are showing deacrease of 5~10%.

Then I just buy, set a sell at 10%, and forget for 12 hours. I come back and at least a third of my cryptos (out of 10) have already sold at 10%.

Rinse and repeat. Hold the ones that don't pump until they eventually do within a week.

I might try putting sells at 15% instead because it's too obvious that the coins that get pumped have very low volume for days at a time.

idk, just though I might give some actual advice on this board.

You helped an user immensely. Thanks for the actual advice!

nice, this is the first non shitpost tin i see in weeks. If anyone else has a good strategy post it.

thing*

You will eventually get stuck in an non-liquid trade if you are looking at low volume. This won't scale.

If there was a drop bigger than you were expecting, you will lose a majority of your funds. SO you need to make sure you are not trading a majority of your funds.

Good luck. I don't think this trading style will scale at all.

So what I mean is, this type of trading will be hit by "black swan" events, like every week. You have to come up with a way to survive them.

You should really cut out of bad trades before the day is over, and not a week later also.

I am also new to crypto trading. 1 month in. I had nothing but success right off the bat but then started to get a l;little cocky and started to see losses. What i have learned is to not be so greedy and not to rush things. i set a buy for slightly under the asking price and upon a successful purchase, i immediately set a sell at 3-10% depending on the range i see. Dont expect anything to go to the moon. Be conservative and safe. Never expect to double your money overnight. Never put all of your eggs in one basket.

This is actually a good thread.

Been doing this, yeah, it's great until you pick the one that doesn't come back up.

Let's say you take a loss of 40% on one of those. Assuming you are using equal purchases, and with fees, it will take 5 of your technique to make up the loss.

source: I'm in one of those. I'm just holding me bags.

Have any of the major cryptos (i.e. not literal memes like Milocoin) actually collapsed in value and made investments worthless? I know that they're very volatile, but it seems like that volatility is just part of what looks to be pretty constant and ridiculous growth at the moment. Obviously it will peak in the future, but it feels like we're still at the early adopter stage at the moment and (when compared to the potential gains) the risks aren't actually that bad. I think a long-term hold strategy really could pay off big time.

Anyone got any opinions on this? I'm very new to crypto myself, so I'm prepared for everything I've just written to be 100% wrong.

Yeah holding most promising altcoins is the way to go if you don't want to lose time

With OP's tactic he would have sold pivx way too quickly for example

In general, I think OP is 100% right to pick a sensible strategy and stick to it (it's led to consistent profit after all). I just think cryptocurrency is a hugely disruptive market and some of these piggyback cryptos are very sensible gambles. Just my opinion though.

why low volume?

Yeah, look at stuff like NXT

I bought in a heck of alot to NXT.
No more are being issued (not mineable)
Medium volume.
Hasn't experienced a pnd in a long while.
Consistently giving coins during snapshots (which raise the price alot).
It's a good bet.

so you buy at -5% and set sell orders at +10% and they sell? I'm looking at examples of -5% coins with

OP here, ID might be different because different IP.

Low volume coins tend to be the end of a dump. Cryptos on polo (not bittrex, that exchange is dangerous territory at low volumes) are cyclic, and because there are not many coins listed on polo, the low volume coins have seem pumps often throughout the year. Hence, with enough patience, everything usually pumps eventually.

But if you find something 5-10% in the red after hitting an obvious floor (if the chart is flat) then 1. It already has a high chance of rebounding back to "normal" which would and 2. Still has a higher probability of pumping than anything with higher volume.

Bag hiding is always less of a gamble. Just try buying 10 coins about 20 to 70 BTC in volume that are red today, maybe spend 0.01 BTC on each and see where it goes. With that little. Money psychology doesn't really come Into play and you can really study how well you can choose your coins.

How did you get into cryptos? Im so new to this that I barely know the terms you guys use. Where should I learn from?

>maybe spend 0.01 BTC
Best advice. It's real money so won't Yolo, but you won't make stupid choices either.

zcash did, was at btc prices, then fell to $60

Lol... funny how "black swan" events are nearly a daily occurrence in crypto

>This won't scale.
The scaling happens you move to other markets, also when polo adds more coins. Where the H is PIVX and ICN?

8% is great but if the volume is low you're restricted to small orders.

if this is something that's been working for you OP for several weeks you could probably distill it into an algorithm and automate at least part of it.

holy shit. a good thread. nice.

What the fuck even is this

What do you thini about this
The coin you have bought has dropped 15% over the course of 7 days. Do you hold or cut your loses and move on?

Don't sell your coin for less than you bought it for.

If you have to liquidate at a loss, you invested too much money into a shitcoin.

where do you find out the volume on polo

it is right next to where it says price.

coin - price - volume - change - name


volume is calculated in btc

I'm just buying Potcoin with 420 coming up.

Solid strategy and it works in an uptrend but be careful and once BTC will start to pump!

Personally I follow a lot of (over 400) crypto-related profiles on twitter and with months of work I found around 20 really successful traders on twitter. So I just turned on mobile notificatons when they tweet and since I follow their calls and study their technical analyses of the charts I became way more successful with trading. I want to share it with you guys but I worked with this list so much that I would like a little compensation for it. I'm thinking about 0.02 BTC for the list with info about each of the traders and you'll get in addition another 3 useful twitter profiles that were great help for me in the last few months. Send an e-mail for the details if you're interested: [email protected]

is there any porn with a girl that looks similar to the OP

>15% over the course of 7 days.

That's nothing and can easily recover.

First I'd see if Bitcoin's price went up. Then I would check the chart to check the slope of the decline. Of its a flat and gradual 15% then I hold. If it's sharp, I consider dipping out.

Pic of girl to prove I'm OP and help this guy our because I don't have porn.

ive been here for maybe a month, and i have learned alot but nothing really like this. how can i do research guys? i mean yeah i can google a coin but are there specific sites that have legitimate crypto news? Any pointers besides Buy high and sell low would actually be appreciated.

what's better for trading bitcoins or penny stocks?

Bitcoin since it offers you l2 data free