This is TOO EASY

I am not very smart. I have no experience trading. Still I manage to make a fortune on crypto. This is easy. TOO EASY. Makes me deeply suspicious... What is the catch here? If it's just buying low, selling high. Why doesn't everyone do it?

i usually buy high sell low ;_;

You're taking calculated risks. Some are better at seizing opportunity than others

Me too. And how it said, this is very much easy

The catch is that it's a bubble and one day it's going to pop and whoever is still in it is going to be jumping out of their second story windows head-down.

I'm just getting into this, I'll post here instead of shitting up the board with another thread. I have some Ethereum on Coinbase. I want to trade so-called shitcoins. Is there an exchange everyone here uses that I should transfer my funds to?

Bittrex

Binance was the easiest for me to start with

How much $ are you swinging with?

I'm starting to feel the same way. But I always have to remind myself that the competition is very stupid. I am dumb money but there is dumber money.

How long and how much ?
There are many good coins that had a steady growth that would suddenly reverse trend and bleed for months.

Someone who held eth since august would have lost 80% of his worth in btc.

I had a 12x growth in $ value (so around x3 in btc value) since I started in september, but I got lucky a few times and made some really bad trades too.
I can easily see anyone unlucky lose a lot.

Dunning Kruger

You don't even realize how smart you are.
The average person is literally too dumb to buy low and sell high.
They don't buy coins that dip they buy coins that rise "because why would you buy a coin that's going down"

They buy high and panic sell when it goes down. They literally buy high and sell low.

There's lots of stupid money to be made here.
Yes it's that fucking easy

im glad. I am HDOLing bcus im dmber money. im just not getting pissed about it. maybe i'll move to the street and collect cans and scrap metal w/e

I use only binance now, bittrex has more coins and volume but none of the new promising alts.
If you want to use my ref code 10698637
and you can post your eth adress I'll give you back some if you actually trade.

Well its a bubble with high likelyhood of being in the process of popping right now. So if you have a big % of your gains in crypto you might lose 60% of it over night whule youre sleeping and unable tosell. Thats the catch

What if the coin still go down ?
You still have to cut losses (aka buy high sell low) or have your funds stuck for weeks or months before a recovery.

I can show you dozens of coins that just went down for months.

Even shit like Digibyte mooned eventually. If you see a coin bottoming out get in.
I even made money of scams like LINK that way while everybody else on this board kept posting pink Wojack.

HODL is true but only if you bought low.

easier said than done up
>be normie clueless fag
>I will wait for a dip like that youtuber said:)
>other coin goin up 70%
>damn I missed it, too bad
>coin now at 200%
>mmm it looks like it is still going, shit if I had switched over 1 hour ago I would be rich now
>500%
>FUCK IT!
>dips 20%
>ok its normal, I will just hold a little
>dips 80%
>REEEEEEE
>sells at a loss
>wait for next moon mission ;)

Don't listen to other people
Never FOMO if you miss a PnD you missed it. Get over it. You're just gonna become the dumb money everybody else makes their profit from
Don't HODL shit that gets pumped. Coins that go +40% and above should be sold. Take the profits and invest them into other stuff that's at ATL
Invest in shit that is just a matter of time before people keep noticing it like Coins with new concepts, coins without a lot of attention but good development and just keep out for news.
That way you're set for the crypto market.
Literally can't lose money that way.

>If it's just buying low, selling high. Why doesn't everyone do it?
Nigga

If you bought low, then someone else must have sold low.

If you sold high then someone else must have bought high

Speculation is all about taking the money of who's dumber than you, and this market is full of braindead absolute morons.
You don't have to be a genius to take the money of some random stupid teen.

There are several things working in your favour (I say this as an ex professional equity trader)

1. This is an absolutely unprecedented bull market. The price swings are mostly upwards and often enormous; 100% in 24 hours is not uncommon. This is unheard of for conventional securities and most exchanges would lock out trading with a "circuit breaker" protection if prices moved by even 5%. This isn't the case here, with 24 hour trading on many exchanges (which aren't really "exchanges" in the sense that they have no real control over the price. They're more like MTFs). It would take much more skill to consistently increase your portfolio value in a long term bearish market.

2. Most of the market participants aren't pros but amateur investors. This isn't a slight on you, but it means the playing field is much more level. Most people don't have the ability to trade directly on a stock exchange like NYSE or LSE, for example, without being regulated traders. Traders aren't infallible (trust me on this!) but they're going to be better at reading market signals and not reacting emotionally / making rookie errors.

3 & 4 - I am not going to divulge these as it weakens my advantage against you!

What is your definition of "making a fortune" out of interest?

>(I say this as an ex professional equity trader)

A real one who wears a suit?

>professional equity trader
One of those which live in their own apartment?

I wore a suit, sure. You might be thinking of open-outcry market traders (hand signals and blazers). I didn't do that, it was a bit less glamorous. Basically sitting in front of 8 computer screens containing bloomberg charts, IBs, an EMS and orderbooks for what I was trading.

And being surrounded by and trading for complete cunts.

you should be good at talking customers into buying and selling :D :D
Every company needs some of these...

>3 & 4 - I am not going to divulge these as it weakens my advantage against you!

You're an user message board. I'm sure 3 and 4 aren't some super secret magic tricks. Also I'm pretty sure no one is actually going to heed the advice.

It's not that I really want to know that bad but when you phrase it like that, it reeks of Reddit Nu Maleness. Just don't add it and stick with 1 and 2 instead of being fruit about it.

There are no fuckign secrets, that guy is just some LARPer virgin.

It's all random, so some people get rich and some poor. Don't think because you made money that you are clever.

>some buy XRB while others buy Confido/LINK/DOGE

wow truly random

Yeah Dodge could have mooned

If you bought LTC at 320 and BTC at 16k is there any point trading them for shitcoins now and hoping for a moon mission, considering how much the value has dropped since then?

binance is the best place to start out

Fair enough, was a bit twattish you're right.
Not really secrets, true, just fairly important insights as to why seemingly green traders can make a killing.

I didn't want to divulge them since it would erode my competitive advantage. I shouldn't have said anything though as correctly drew me up on.

I'll throw some advice out there though:

>Coin trading is much more similar to equity trading vs FX trading (although you can't iceberg, correct limits and there are no auctions).
>Always leave something for the next guy
>Avoid using market orders
>Look out for algo trading (multiple small orders very quickly or rapid movement of the same order between price levels). This is often done to supress the price or keep it at the offer. It could also be to walk green traders up the book "chasing" a price or trying to keep at the best bid/offer.
>When you send an order to buy or sell, you go to the back of the queue at that price level.
>The tick size (minimum price variation) in many coins doesn't change depending on the price. This means very low value coins have extremely large price differences between ticks (0.000001 vs 0.000002 is huge). Very high value coins on the other hand have such a small price difference between ticks that the order book becomes very fragmented (not much liquidity at a specific price level, with the exception of psychological "round number" prices). This means that if there are massive sell orders at 0.5 you could put a sell order at say 0.49999 and get almost everything you would have for selling at 0.5 but without sitting behind a massive block of sells.
>If possible, bury a limit order to buy at 20% or to sell at 500% of the current price to capture any fatfingers that happen. They don't happen often but when they do and you get filled it's awesome. Since these aren't regulated exchanges you don't have any chance of the trade being ruled erroneous.

Guys, how to buy low and sell high?

And that's how you bait someone into a proper response. You just call them a virgin. I learned something from you today and now you've learned something from me.

I sent that reply due to , not you. I didn't reveal points 3 & 4 but felt bad at even commenting on them, so thought i'd share general advice. Hope it was useful.