Bitcoin Forum

So, yesterday I deposited 0.02 Bitcoin* to YoBit.Net. I will be buying and selling Altcoin next Monday. I will be updating how much I lost or earn and what Altcoin I invested in here. I will try my best to trade Altcoin everyday. However, I wont be able to trade in Sunday.

I made a very small profit daytrading BTC/USD on OKCoin last month. And..

will I be able to make profit trading Altcoin? Answer to be revealed in July 01! Watch this thread!

*I know 0.02 Bitcoin is a small amount. The purpose of this is to tell others that we can start investing at 0.02 Bitcoin.

Right on man, good luck on your endeavors. I'm in the same boat as you. I have some BTC floating around and just discovered AltCoin trading and I've become absolutely obsessed with it over the last few days. I am so fascinated with this new technology and market. I've thrown a couple BTC into the 3 different exchanges and now own 11 different coins. I admit I got my ass handed to me the first few days because I was learning this game but slowly I've been turning it around little by little. I was thinking of making a thread like this as well to track progress and invite others to discuss their portfolios and strategies but didn't want to clutter the forum with my n00bness. I'm interested to follow this thread and hope others contribute.

Thanks for the supportive comment! I hope to see you and others day traders posting daily changes here. I also hope to see you as a full member.. earning lot of Bitcoin from Altcoin trading soon. I'm not a experienced forex trader, if possible, why dont you share how you turn the table back here?

Totally man, I'm pretty into this. Its also amazing how small this activity is right now. I would bet there's less than 100,000 AltCoin traders in the world and maybe only 10,000 are active in a day. It presents a really fascinating, challenging and unexplored landscape.

I quite frankly embarrassed how much I got murdered in the first few days. Biggest things I've learned is to research and read everything you can find on a coin before you make a move on it.

And the biggest thing I've learned is it doesn't matter what the actual value of the coin but what the perceived value of the coin is. For instance a coin's value can be one thing but the only thing that matters in terms of trading is an exchange's perception of it at the time. I've noticed BTC38 is extremely inflated with their values not coming close to the actual price where Bittrex is quite competitive. Always be up to the minute on your prices using coinmarketcap as sometimes you can make sweet deals before other people know what's happening being up to the minute.

Right now I'm treading water but at least I'm not getting my head kicked in. I've been doing alright since I've gotten a basic understanding of how this all works.

This guide really helped me as well and helped turn my game around
http://pumperspicks.com/ultimate-altcoin-buying-strategy/

I think I'm going to give Ryan Pumper's group a shot.

Lol @ these numbers pulled from your ass.

Federal Reserve Bank, in a PDF back in October 2014, said the number of Bitcoin human users (not addresses) was only 100,000.  So of course there are less than 100,000 AltCoin traders in the world, since there isn't even more than 100,000 Bitcoin users!  

That's after 6 years by the way, Whatsapp is newer and has 300 million users and digital messaging (like digital payments) started around the same time and it didn't stop PayPal from attaining 130 million users.

www.federalreserve.gov/econresdata/feds/2014/files/2014104pap.pdf


Lettuce beef cereal (let us be serious), while nobody has done the metrics or analytic on it, I would say the core following for alternates is only in the high thousands.  After all you would be hard pressed to know alternates even exist unless you follow the exchanges or read forums like Bitcointalk.

Comparable to Bitcoin, Alternates generally have no user adoption and none to my knowledge have proposed, let alone implemented, a concrete plan to acquire users.  Probably the best in the industry so far, despite its' creator being a slumlord and implicated in a direct revenue scam in the mid-2000s, is that NeuCoin thing which is going to spam its' Nut Coin on freemium websites but even his freemium websites only attract minor traffic (relative to the rest of the internet and people who are accustomed to free shit aren't going to buy or need magical internet coins).

Don't be an asshole. He said that it was a guess when he said "I would bet there's less than 100,000 AltCoin traders in the world." He never said that they were actual statistics.

Sure, there are always good oportunities to trade and make profit. Just watch the announcement threads for good news. i recommend Qora, NXT and NEM. Shadow is also pretty interesting.

Been doing well today. Making a lot of quick sales. I bought a 30k shares of POT when it was at .0000039 and I've been slowly selling it off today averaging around a 10% profit as the price as been slowly bumping up all day. Really pleased with this stock and its fun selling POT.  ;D

Also made a couple of small moves in VIRAL picking it up for .00004948 and moving a some of it for .00005500 for a quick 11% profit but price spike on that one only lasted about a hour before interest was lost.

I'm hoping GRID takes off.

Really kicking myself for not getting into ARB. I swear to god I was staring at it last night while researching and thought it was prime for a pump but decided against it as I've got some bad losers in my portfolio right now and didn't want to risk it. Sure enough it exploded today and has been the biggest winner of the day so far.

All in all though, not doing badly.

One strategy I want to try is to buy up coin late at night as it seems prices drop and there's much less activity and then sell during the day but I need these couple of losers to do something or get rid of them before I start accumulating again.

Bought a few ARB yesterday and sold it for a little profit. Should have kept them and sell them today - and I will be able to make more profit. Just testing with another 0.01.

Are you going to keep a log of your trades and thoughts behind them? May be interesting for new traders!

I will keep people updated about what I bought and what I sold. However, I wont be able to give thoughts and advice on all of them - maybe some.

Well I don't know how you are going to do it but best of luck. I hope you have a trading strategy in place and especially with a backup plan on hand. Trading alts these days are getting harder because generally people are pretty much aware of the risk and forthcoming event and they would sell at every opportunity even if that means making a marginal small return. Lost my stash once becoming a bag holder so for me, that's a painful lesson learned.

??? are you trolling on us? 0.02 btc is $4 dollars, you cant even buy big mac meal with this. when they take trading fee you will only have 3 dollar. you waste your time doing like this

100.000 may be an underestimate. I think the real number is 1 or 2 million. The alt coin forum has about 700.000 posts, so probably there are less 100.000 altcoin traders in the world.

good luck with your trades man. i am a beginner in altcoin trading too. although i am doing it slow and with small amounts like you i am increasing the amount little by little as i learn things and go forwards.

may i ask why did you choose YOBIT?

it doesn't matter how small is your "initial" investment into trading is. the important thing IMO is that you start small, and not jump in big time.

when you invest $4 , if you lose, then you have lost $4 but learnt a LOT
if you invest $400, if you lose you get frustrated and leave.
and what you said about fees is wrong. fee is a percentage of the volume x% of 0.02 BTC not a fixed amount.

I threw some points at Ripple today. The way that coin is acting on the market is so weird, something is up with it. Outside of that I've just been selling heavily gather BTC for the next round.  ;D

I am interested to know your outcome and what is your trading strategy? I will keeping watching this thread!

Thanks for the kind comment. Why dont you share with us what you done to learnt the 'painful' lesson? So we can all avoid the potential pitfall.


Same to you. I hope that you will be logging your trades here too. I choose Yobit because it is a new exchange with low volume. It's good for newbie trader like me to learn. I manage to turn 0.01 Bitcoin into 0.015 Bitcoin within two days. Was trying out with different strategy before I start trading more tomorrow. Might use Bittrex when I learn the basic and have more time to watch the market and chart.


Ripple is a good choice. When you manage to sell it off, posts here how much profit (hopefully) you have earn.


My strategy is newbie strategy - buy low and sell high.

Started trading on Monday!

Bought 100 ParkByte (PKB) at 0.00000355 Bitcoin (BTC).
Sold 100 PKB at 0.00000375 BTC.

Made a profit of 0.00002 Bitcoin which worth around 0.004490 United State Dollar (USD).

good work.
try to invest in multiple coins every time you want to buy and sell. there are a lot of coins that are giving profit every day. and if you can find them beforehand and invest in, you can get an easy and bigger profit every time.

also by spreading your investment between multiple coins, you guarantee profit. if you lose 1 others will cover the losses.

but if you have invested in one coin, and it goes down you lost your opportunities.

You should go to bittrex to trade. There are lots of altcoins and volume is good.
There is a good chance you can catch some rising altcoins.

One vote from me for Bittrex. Mainly because of the volume.

Thanks for giving me those tips. Those will come handy.. sometime later.. :/ - see below.


Hmm.. I think I'm going to withdraw what I have at YoBit.Net and start daytrading at Bittrex. Already deposit 0.02 Bitcoin into my Bittrex account. :). Why withdraw all from Yobit? Well, bought 1000 PTA at 0.00000536 each. The next day it became 0.00000236. I hold on to those coin believing it value will rise again. I'm wrong, now it is only valued at 0.00000051. :/.

3rd June 2015

Bought 1000 Pentacoin (PTA) at 0.00000536 Bitcoin (BTC) each.

12th June 2015

1000 PTA worth around 0.00051000

0.00051000-(0.00000536*1000)= -0.00485 Profit.

I'm not giving up. I will be trading on Bittrex soon. Will update this thread again. :).

that is why there are conditional trade offers available.
for example you place condition that if the price changes XX% then buy or sell. this way you can be safe even when you are asleep.

and don't worry about losses, i did that with NLG (i think) i bought at 600 just to see it fall to 400 and then gave up on it :D

What's conditional trade? Can you give me example? Do YoBit.Net offer conditional trade? What about Bittrex? Thank you for sharing your tip.

all the trading websites that i have seen so far had conditional trades so far. but i have never checked yobit

it means that you place a condition for your trades.
for example you say if the price of bitcoin goes lower than $210 then sell 10BTC for price of $209.9
or if the price goes higher than $250 sell 10BTC for price of $249.9

the exchanger's bot for these kind of conditional trades mostly have enough for all purposes but , other bots may have better and more options.

Yes. The formal name for those trades is "limit order."

You should watch the history of the coin. If the last month or so it has seen an increase in price of several magnitudes, it is a good indicator that it is going to drop. Don't buy when it has recently risen a shit load.

good luck with starting out!

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One suggestion: you should choose the coins on the rising trend and buy it at low range, you have more chance to profit it! And do avoid the crappg coins that is pumped up, the price will crash easily! Do your own research becore buying that coins!