Bitcoin Forum

What's your strategy when buying altcoins?

When we enter the world of trading. The first
thing the we think of is what thing we should
consider first when buying altcoins. Or, the coin
that we choose is worth to risk of. Any ideas of
what strategy we need when buying altcoins.

Main rule in altcoin trading is don't buy at peak price and never sell on dip being panic as well as don't go with hype over chat rooms in exchangers.

First of all you should have to do a deep research for the coin in which you want to invest and have to wait for it for a few weeks to monitor its volume of trade on exchanges and its potential after that try to invest there.

Yes. Also this is a very overused phrase here but "buy low and sell high" is a very wise advice. You can see that there are still some people who never learn because you can see that they do mistakes repeatedly. Just like you mentioned, they still buy at the peak because they are scared of being left by the train and then they panic sell.

My strategy when trading altcoins, i always choose the coins who the price going up around 2%-3%, usualy they will more going up and it is just for short term strategy and not for long term strategy.

The most basic strategy buy low and sell high. Always trust your gut feeling and don't ask for advice on which alt to buy.

my strategy is simple, i am buying altcoin when i know that rate is in bottom or almost reach bottom, and selling when the rate is up in a good rate. i am not a big fans of one or two coins, i choose the coins when i can see if there a way i can enter to the market to buy that coins, if there is not a way then i would not join to the market. i just waiting for a second or take another chance in other altcoin.

I disagree with that advice about listening to your gut feeling. If you perform a self experiment your gut feeling is what usually makes you do losing trades. So the advice should be to go against your gut feeling and do the proper research before making that buy order.

the only thing worth knowing is to buy low and sell high.
so you should never buy at the top, instead try to buy at the bottom or at least on the way to the top somewhere before the maximum price so you can make at least a small amount of profit.

the other thing that I can think of right now is to always buy coins that have something to offer not every coin that is 99% hype like ethereum.

Best tactic for me so far is , know the coin you wanna buy-in after that
check chart,volume,buys,sells if it looks promising & healthy jump in ,

I Risk investing in ico's, but i choose only couple per year if i see potential - new idea, technology.
Tried swing trading buying low selling high, but i am more successful recognizing ico's and if your ico pick is successful you can make alllot of profit because you have bought before everyone is investing.

My strategy is not to buy at the moment altcoin it was in pumping because we can get stuck in a high price and difficult to sell it again, better do some research in advance about altcoin them and also try to always buy altcoin who get volume high transaction to make our buy and sell fast and in short time

it's possible when the coin that you select are expensive, 2% -3% was too low for a coin that is cheap like doge. and i deal with you, this strategy just for short term not long  ;)

i don't want to buy expensive coins and keep it for too long. i'd rather to buy cheap coins like doge as it said, or other coin in under 10k sat and trade with safe, i mean if there a profit, i will close it and re-buy again, take the profit if there is a chance. i'll do it again and again, with just 3% in a day, i think its should enough to get stable profit in a month.

Thanks for the response guys.
I read all your advices and it helps
me a lot to deal with trading a coins.

Buy low, sell high. That's the basic. I just got into trading alt coins and I must say, if you want to keep a nice profit, monitor the market at all cost. You wouldn't want to miss an opportunity where the price will be benificial to you

Knowing what is low is very hard.  Watch what coins have bottomed for a while and see if anyone is talking about them is a good strategy.

I think there is no strategy for trading altcoin can be define specifically. But Universal strategy for trading is "Buy Low and Sell High".

So while trading trader must have remember few things as keep watch on chart to know better and more details of particular altcoin.

Chart can give sufficient information of market.

Main strategy? I just focus on the tech I know will win. In this respect it's:

ETH
MAID
BTC.

I ignore anything corrupt or immoral, such as the ETC Criminal Coin, because I strongly believe that it is our own personal standards that define us in life.

Well for me this is not my own strategy i just  do this when some professional telling me about this method that you should choose top 20 altcoin those legit altcoin in top 20 are legit that you can get and make a profit even in long term..

I look into many places like here in the forum, ask opinion for experts, but don't forgot good web news and some exchanges sites, mainly the stats, charts and chats. Must of it has official websites and every coin has a "lifespam cicle" where you can analyse and compare one witch other. Also, you can see if there's no P&D, or a stillborn scenario.

unless you are an experienced trader you need to trust someone i think, otherwise what the point of posting in this thread in the first place? a pro trader would never care about trade like this, he already know what to do

As long as you are selling for higher than you bought, you're good ;)

But the problem after you made a profit the price will decrease again and you will still invest and instead of the price will increase again its decreasing and you will lose a profit.. better to know the altcoin first if it will still stay for a long time.

Good luck with your trading. Sounds like you're not following my advice. ;)

stick to the higher volume coins initially (see coinmarketcap.com)

dont get married to a coin

remeber anyone trying to convince you to buy or hold a coin is usually just looking after their own investments

see altcoins purly as a way to get more bitcoins

take profit along the way but try to hold ur winners as they 'can' go much further than you might imagine

cut losses pretty quickly... again high volume coins that seem to have stabalised means you can tollerate a longer loss period imo.

Try to get some order and methodology...that way you can focus on what works for you and stop doing what doesnt work

oh! and lastly ... buy yourself a copy of uads.io!

That is the dumbest thing I've heard all week.

I wonder how much money did he lose after going against his gut feeling.  :D

I'm usually seeking altcoin that quite well known and exist over a year. I'm also looking high value of altcoin since I can made great profit within a day
Ofcourse that will be the risk and as far as I'm trading, I still profit position at the moment

make sure it's on one of the big exchanges. make sure it hasn't done anything in the last few weeks or months. buy some. sit there for the inevitable pump. sell and forget. go find the next one.

that's all anyone needs to know these days. I wonder how long it's gonna last.

I try to find coins with unrecognized potential. All the better if they have a catalyst approaching

where to see top 20 altcoin
and how to know this legit altcoin or not? thanks in advance.

learn the market of the alt you are looking buyin into , research about it heavily & constantly , be aware of their roadmap progress etc and then you will have a winner!

by that altcoin which is useless because the useless coin have low price rate and when increase we get profit . many times i bought less famous coin and getting the peofit within month .

my strategy buy altcoin
iam buy is very low price or after big dump super dump and big down
and iam choose is good coin, good community and good volume transaction

they pump every single coin in poloniex. U just need to found a good entry point and then be patience.

That could be risky but nice idea since i am doing it also sometimes and it really works since those dying ones with potential have chance to get back alive since dev pumps he's coin so it will not die totally, but we must consider to buy those only reliable ones and not those shit ico scam coins who's been listed on different various site so we can earn and don't donate if we lose together with those died coins.

I would advise to stay away from any coin which is listed on yobit only , because yobit accept any coin , for that most of scam coins go to yobit firstly , and as a trader I have learnt several lessons .
The best exchanges to trade are Poloniex and Bittrex because they check the coin situation before they list it .
Do not trade many coins at the same time and focus on two or three coins.

Drimk a lot of coffee, stay awake and be wise in making decisions. If you feel thr profit take it. Dont be too greedy on thinking I want more. You will end up losing with that kind of behavior.

I like this comment, this will  enable you to minimize your lost.  But first of all do your research.  Browse the page of the coin you like, study it then decide which one you think will likely bring profit for you.  Of course you need to  know some basic trading skills too. It is a must for every trader.

They should need have a good skills in trading so that you can increase your bitcoins but if you dont know how to trade better to study it first..  the only thing that i can share is to buy legit coin that you can hold for a long time so that you can not be lose..
In the top 20 altcoin in coinmarket cap those altcoin are legit for me..

if you are 7/24 on the internet buy volatile coin, be always ready to sell it if the down is coming. hope u will find buyers  :o
if you would like to sleep in peace and enjoy the life, than buy stable coin with unique features  ;)

Top 20 altcoin in coinmarket cap are really can be called best for tradings and staking but i think also we can earn money fast money for those ICO shitcoins since that coin are prone to be pump and boost easily by the devs and turn out price will soar high in their first week but those coins are not really recommended for long time staking since devs of shitcoins have shaddy intentions for their coins existance thats why i don't really hold alts in my pocket i just trade them quickly.

Indeed trading must need patient to get profit but im Disagree about what single coin can pump..that mean like The best volume they can pump it.

Hey Mate,

I would love to suggest to choose alt Coin from ICO by knowing their offerings and plans in details.
Shocked Right?
-> I am really saying in terms of short term staking. You can easily understand by their projection of investments through enrolling into ones signature campaign. its my strategy basically, i am enrolled into now ICONOMI sig campaign and gotta know that ICONOMI is offering Mastercard to its investors , So in my perception, this crypto-currency obviously came up with a plan to achieve something good and it also can be easily predicted that, there will be ongoing projects in very soon.
Perhaps, I will stake rather than selling these after receiving free coins which i will be offered after the campaign.

Now in terms of risk, The crypto-currencies with small investments along with didn't share any of their upcoming projects , or marketing plans/project shouldn't be invested for a long time. Though there will be the initial bump in after accomplishment of ICO but in the long run, it is sure to get lost some amount of money.

So before invest,
Please read out its NOW and THEN plans...

And yes in terms of short term staking, The more investments the more value it will achieve. So it will be great, After the announcement of Any ICO , please check its history and price and bumps, then just invest if it seems good to you. It will definitely have a good bump after the end of its second ICO programs. Then you can sell and enjoy the spread. So, you will be risk-free all the time.

With due respect please let me know by your points of View , I am new and always want to know something good from others.

Regards mate
 :) :) :) :)

 

Never ever buy into the hype! I've heard so many stories of people losing out on dumps. Do your research on EVERY coin you invest in so that it becomes a habit. In regards to newly releasing coins, check exactly what they are offering. Many coins are just clones of Bitcoin which have little purpose. If the coin had little purpose, why are you buying it? Altcoins like these are only made to make their owners rich.

Often new altcoins use buzzwords like "decentralised" to make the coin sound appealing. Take steem it for example. It is the complete opposite of decentralised, with all the influence and coins held by the owners and whales.

Thats true. If a coin has a hype and already increased for 100% or whatever you are too late. The chances that it dumps back are higher normally than that the pump hold on.

My strategy in buting altcoin is when the price is very cheap and waiting for the price to increase thats-the most-thing you want to learn? , and most of all joined-in group that their topics are all about cryptopcurrency-when they gonna buy and when they gonna sell

the strategy for trading is always to buy low and sell high. the only thing that i add to it is that i never buy any coin that i don't like. i have to check the coin first and see if it is really a coin with potential or a high risk coin with lots of manipulation and risk of dump.

so by eliminating these types of coins i am reducing the risk of my trades by a lot.

i buy big amount of altcoin that are worth shit, so i can have a better chance for a bigger reward, and you calso invest in many if them because they are very cheap

My strategy ain't good enough to share im just basing on what site or what alt coin are the buy the most some indo are good in dumping and pumping coins realy love them when they pumling coins because it sign of sure earning buy what they going to buy then sell .

There isn't any strategy,just make sure the coin has a bright future and a brighter development team.For me,the coins ICO and introduction speaks a lot about its existence.WhitePaper too!If the ICO runs successfully without the project getting dumped,I already start believing in the coin.

Buy on rumor. Sell on fact.


(Little known secret)

Could work but not for all.
I go with the volume of one altcoin.
Example was WAYcoin back when I have some. Bought it at 25sats per WAY then sold it for 60. With just a little time. Take the risk also.

I tend to steer clear of altcoins these days - though I occasionally get the urge to buy Litecoin.

ETH looks tempting but it seems to fluctuate a lot, so I would probably need to increase my exchange activity to leverage my BTC holdings.

I just know about buying at the low price and selling high, price and I don't take the another factor or reason from that. too many think about the strategy will just make me feel complicated and confused, and the simple goal of me just for gaining profit.

When I used to attempt to day trade on Yobit, I'd usually look at which altcoins had recently been doing well but suddenly tanked.  I figured they were due for another pump, and sometimes I got lucky.  I think I made like 0.2BTC on a single trade, and that's considered a huge win for me, because I don't like to gamble big on altcoins.  They're waaay too risky, and I got burned on ETH and some others.

And some others, like doge and Dash I bought just to hold on to.  Don't ask me why.

Just dont invest on those ones with a robotic pump. I have seen it fall so many times and most of them are really scam. Beware of them. I havent seen one with that kind of thing that is legit.

Thanks for the response. I've read all your response, seems all your message was worth reading for. As of now, im buying coins worth to trade of, so in the future i can earn  more btc.