Bitcoin Forum

I'm doing some time BTC/Altcoin trading and it works okay, but could be better.  Years ago it was much easier to get a fair market-overview, to estimate if a price is currently high or low and to find a coin which might rise in (near) future.  But nowadays it's almost impossible.  There are zillions of coins out there … Tools like https://coinmarketcap.com are great to get an overview.  But it's not possible to check all day long in Altcoins-Section for possible good news or read dozens of blogs or …

Now I would be really interested in your news strategy.  How do you get your market overview?  How do you spot coins which are worth investing for a higher price?  How do you find your next investment?  Do you trade long term (hold the asset weeks/months) or short term (day trading on signals)?  And how successful are you with that strategy?

Highly appreciated.

// Alex

like your said and the chart was saying everything for me.

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A lot of these factors. Seems like how the dev doing it works are the primary thing for me.

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After analyzing such kind of investment.

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Both has done by me. It can't be predicting. IMO how many the percentage was depending on how the volatility of the coin in this day.

To become a good expert in trading you need do research every time it is must because without seeing all these how can you guess the coin will give you profit. Every trader has his own views in finding his own improvements and developments of the coin. Every time we have refer in bitcointalk, coinmarketcap, exchanges these are very informative for a everything you are doing. Wiht out these no one can attain knowledge by himself by simply believing the coins.

Absolutely right and totally clear to me … That's why I'm asking for others strategy in finding their relevant news to spot on interesting investments where you then can dig deeper.  Each thread in this board/altcoin section has a decent number of "irrelevant" posts for doing a good news research and the overwhelming amount of altcoins nowadays increases the "white noise" dramatically.


Exactly that's what I'm asking for to learn more about.  It's okay, to not disclose your strategy … I was just interested in learning from others experience in this topic.  :)  Something like "I have a search filter for x, y and z keywords which I check daily" or so …  :)

// Alex

Market action trading strategies, using trading candlestick formation analysis, are strategies that work in any market. One thing that you should know for example is"currency or assets trading following an exist pattern and because mostly trading software(bot) are programs to trade on those exist signals, most professional trader always, trade along those pattern and succeed." Candlestick pin bar signal is one of best signal that you can depend on as a trader. Thank

first i take a look at coinmarketcap, what coin is going to be trend. and then i go to the market, i see all coins for first, then maybe i will choose one or two or more coins to make analyze. to find which coins are worth to investing, i think its depend on how good the history of the coins in buy and sell order, then we can decide its worth or not. after i decide what coins i have choose, then i will move into the second coins and make analyze. sometime i make long term, i hold it for a week if i make wrong decision in bought the coins, but if i can make daily trading then i will make order buy and order sell to make profit. i think i am not yet successful with my strategy but its enough for me now and i want to learn more with trading analysis.

You are referring to this (http://priceaction.com/price-action-university/strategies/pin-bar/) pattern, right?  What about other patterns like »Three Line Strike«, »Evening star«, …?  Which are working for you as well?  And do you bot-trade with these patterns?


Interesting point.  As all bots trade this way, the patterns work … Who said that? :)

// Alex

Thanks for sharing your strategy.  :) This is mostly the same way I do it right now … And it works more or less.  Just want to get better and learn from other more experienced crypto traders.

// Alex

Not all coins in coinmarketcap are good choice to buy since we doesnt know if that coin will flactuates on our expected time, and some of them are just been there since  many people vote it but it doesn't guarantee anything since anyone of them can be turn scam for just instance. Thats why just monitor the coins you want to trade for that day if you want to earn some little profits everyday.

I think the best strategy is wait the moment. because by waiting we can determine when the right time in trading. so we can take advantage so that there will be results that can be obtained. and patience are important factors in making your decisions.

I buy when the thread is screaming scam and the value is at a all time low but work is still being done.

that's right if you have more patience you can assess well since alts trading is really hard to predict and the movement really fluctuating we needed to not to react quickly we do need to assess before we join the ride as there's a lots of changes that happen inside the trade especially when whales got in to it.

I have some x Million COYEs in my gayfish wallet … You wanna buy? Trust me: everybody was screaming scam and yet still work is done on this coin (http://neogulden.com/blockcrawl/block_crawler.php) …  :) *SCNR*

Show me the thread and the work being done by devs while the coin is at an all time low?

So you do your research on some alts and buy interesting ones on low price and leave them sit long term unless something nice happens to the price no matter if it's a week, month, year?  If you pick the right ones in first place, I guess you can be very successful with that strategy.  The problem is to identify those which are candidates for a (big) pump in future …  Thanks.

// Alex

Ah, work done on the code, not the blockchain?  Nope, it's a scam … no dev since three years I guess.  I was just kidding (I love my gayfish coins) :)

well, it has been getting harder and harder everyday and that is because more people with little to none experience in programming and knowledge of market or even cryptography have started in this market to create new coins and they flooded the market with their shitcoins one after the other and this has also caused other developers to get lazy and follow the scamming route.

in short there is not many ways to find out any good coins these days to invest in and bitcoin price rise is causing them all to crash which makes investing harder.

AFter checking for coins on Coinmarketcap, I usually do some research on the website of the coin in question and subscribe to their mailing list, if possible or go check in their IRC channel and do some research from there.

It's a good way to gauge how active the project is and if they're doing the right thing (according to my own opinion).

If its just an overview you want, the one you're using is enough but if you want some more info you have to visit the site, their ANN thread and for peoples say


Finding if the coin is a scam or legit should come first before that. The altcoin should have roadmap, whitepaper,unique features, active and trustworthy dev team (Has a constant communication to its community), No grammatical errors and doesn't contain shady things then its probably worth giving a shot


Usually its a short term because long term is quite risky but it depends on the coins improvement in the market, you should decide if your investment is gonna be long or short term based on that.

Awesome … Thank you both … These are very helpful tipps!

// Alex

I hope find good news startegi at this topic , thanks op great thread .
Regards
Cocobray

Many fell for this thing :).  The most scam sometimes comes with perfect presentation, full road map, enticing graphics, and deep meaning word making readers confused.  You will never know if a coins is a scam until the action said so.  Devs running away.  In the world of altcoin, the one most legit may turn the biggest scam ever.

Just trade and be observant and watch closely how the thing develop. Candle stick and graph analysis may help but often time they tell otherwise especially when the market is manipulated by the dev itself.

After so many failed attempts with my forex trading during high peak news hours, now a days I simply want to stay away from markets just to secure my capitals. I agree missing news hours might lead to miss many big opportunities. But I prefer to trade in clear trends and with ups and downs uncertain fluctuations.

Many high impact news lead to price movements for next 2 days also. I prefer to trade in that alone. Staying away from market is the strategy right now I am following.

There is no full-fledged particular strategy if you want to make the most profit from your investments. Sometimes it's momentary, sometimes it is in-depth research. Sometimes you actually can't predict what's gonna happen with those new coins coming new every other day. And most of all No one will tell their strategy so easily. Learn the system, try to know the history of that coin before investing. It will help a lot in future.  :)

Am a short trader that is my strategy to buy and after that i sel it in small profit but i do it 3-5 times to get a highly profit. Short trade is much better to those who want to increase their capital. Almost to that is the small capital they started to trade we do short trade to earn more and increase our capital.

I tried short trading too, and yes it is effective if you want to increase your capital in a short span of time.  I once tried this kind of approach with mooncoin having only half (0.5) of LTC, and after 3 days I manage to increase it to 7 LTC .  Just doing buy and sell and this kind of trading does not necessary need news because it  depends on the short fluctuation of the price.  Effective but you need to focus on the whole trading unless you have bot to use.

Agreed and very helpful tipps.  But my question was not so much what's your trade strategy but more what's your strategy (or better system?) to find the relevant information/news from all that white noise out there which comes along with zillions of altcoins. Because that's what I'm really struggling with … ☺

Thanks
// Alex

You mean short like in "short selling" or like signal/-daytrading?

// Alex

Oh my lord.  Relying on what passes for news in the crypto community for a basis to make trades is insanity to me.  What kind of news would anyone expect about trump coin, or 1337, or any of the myriad shit coins that get buried on Yobit and the like?  They're all pump and dump, so any news is going to be heavily biased and likely not even reliable.  I think that plan is a lot of horseshit.  It's all random luck, making money trading altcoins.

That's exactly true, altcoin is surely easy to manipulate, the reason is for making money for some group or even for developer itself. In this situation, it's not luck, more correctly this is a fraud.
But not all altcoin is bad, there are some coins with have good developer vision.

Thanks for the crystal clear words.  But now … What's your strategy if you're a trader?  Buy 10 random coins wand wait for them to be pumped and sell right in time?  Curious …

// Alex

Good call and I always am wary of the message, not the language. The biggest scams are surely the most well thought out ones with the brightest minds doing their best to manipulate, confuse and deceive.

Scammers run well-oiled machinery, closing shop only to set up new ones.

Absolutely.


If it's already on the market, one need to identify the ones being pumped/manipulated next.  Observation and candle stick analysis does not help in case of manipulation.  You need to hold the coin already when the rise starts.  Otherwise you're too late -- always.

// Alex

actually the only place where you can see the manipulations is on the charts and how they change. if you look closely at the volumes in the previous days leading to the pump, if you look at the orderbooks and how orders are placed and their sizes you can figure this out eventually.
and most of the times the pumpers are using bots and their bot activity is pretty clear.

Joining twitter campaign for those altcoins (ico) and waiting the ico project will finish and holding them until it will distribute into exchange site waiting too for the price increase and then sell my coins to turn into profitable, Trading Actually needs more patience coz if you don't have one you're not in the path of trading. Always waiting for the coins to be dump and then buy wait for the coin will pump and then sell.

I think we are talking bitcoin here, but taking into consideration, news also affect cryptocurrency.  Even if it is manipulated by the dev, with a good news and supported by the demo's and actual presentation of project, even a shitcoin will increase in price.  News affect all even at the sligthest influence,  Good news bring buy demand. and Bad news means dump.  I know you will be excited somehow if one of your shitcoin holdings release a good news because I will be excited too if Im holding a shitcoin and it releases a good news :).

The possibilities of movement on a certain shitcoin will rise up is there and you are right those news does really affect the trend and if a particular news somehow connected to a coin like trump coin then the hype really connects and the devs will definitely see it as an advantage thats why some unexpected things do really happens but not most of the time.

Exactly my point.  Where/how to find/filter that type of news with all that white noise for zillions of other coins?

// Alex

Since I am not be sure that my stretagy is how much beneficial but my stretagy of trading is working well for me .
Usually I makes purchase of that altcoin which is at very low price from its principle price and then ordered it for sell in advance with 10% price increment  8)

buy 10 random coins is too big for trader unless that trader have big fund in the wallet, i guess if we want to buy, we should select at least 5 coins or less and wait for the next pumped and for that 5 coins, we are not difficult to handle and manage if something bad is happen. for me, i think i will only buy 3-4 coins and watch in the market how the movements, if its good, then i will be ready to buy and sell it.

there is never an easy way of doing that. because you can never be sure about what lies behind a news that you read. many times it is FUD, many times it is just Hype because that news source have invested his money into that altcoin, or even bitcoin.

but as he said news always have its effect, you only have to figure out which type news has the most effect and which type has no effect.

for example when you read circle CEO saying bitcoin is going to die, everybody is laughing at him and price continues going up!
but when you hear news about bitfinex getting hacked price drops fast because it is an effective news.

"Usual price" means average price for a certain amount of time?

For a quite volatile asset this might work pretty well. How successful are you with it?  2% APR?  5% APR?  More? :-)

In the "good old days" of bitcoin I've made something similar.  A astonishing dumb Gox bot which did two things:

1. Buy at current/sell rate - 1.25%
2. After buy order was filled, create sell order at buy price + 1.25%

No MCAD, no StochRSI, no patterns. Just buy and sell price ± 1.25%.  I started this daemon with ~26 BTC with on 2011-11-05 worth ~72 US$ and stopped it 2012-02-07 with 32 BTC worth ~183 US$.  If I would just have let the 26 BTC sit and wait, it would have had "only" a value of 149 US$.  So, I would consider this strategy quite successful :-)

// Alex

Both active and long term traders must listen to news but particularly I am not having any specific strategy to handle any type of news. I like to call myself as a passive trader with respect to bitcoin as I'm not doing anything with my bitcoin saving even I do hear any positive or negative news which are affecting bitcoin prices significantly.

Definitely trader must be updated towards news and current events about stocks so that they can move their fund on the current "HOT" trend.  This will enable them to take advantage of the possible profit of the current news about certain trading pair or can save them from losing value with their holdings.

I could go thru everything but I dont think you should do this, too much work for not much result

This is part of the hard work should definitely done by a trader on which we should do search for new news on daily basis specially when we are investing on a particular coin and as you said my head really aches when i saw the altcoin announcement which will you see lots of altcoin is launched on daily basis thats why its really confusing on which one you will choose.Here my way im just searching or seeking a roadmap into a particular alt.

Spotting coins is based on my instinct. If there is an ICO, I spending my time reading their whole roadmap and some future plans and developments about the coin. I don't read news pertaining to other alts since it's useless. Only bitcoin has impact from the news. For ICO investment I usually headed to the main thread and see if the devs or any person in charge can deal with question and answer portions. New alts are meant for short trades and only bitcoin is meant for long term.

How succesful am I with my own strategy? So far overall stats is good and loss is part of it.

But when you are holding for big targets and when you are ready for holding for years then I believe there is no need to have any specific strategy for any type of news events. I maybe wrong but only for the entire year system failure news events. The small fluctuations will be ignored by not having any strategy for news hours.

Absolutely.  If I'm investing in long-term (> 1 year) the information to gather is totally different.  Then you need to be very well informed about the asset before you invest.  Same like with stock.  Do I buy/sell for a quick trade and trial to gain some profit from fluctuation, the information I'm considering are totally different, then if I'm investing in a company for years …

/alex

Im not listening to news i joined some of facebook group or random groups that topics are mostly altcoin what hey are buying i always follow the flow i always buying the same coin because sometimes they start puming the coins and we can get instant profit. We are always active when it comes on trading.

but i think even if you are going to hold it for a long time still you need to have a good source of news about  bitcoin, although i am interested in long term investment and have already invested a good amount of bitcoin for long term but still i feel  the need to get updates about bitcoin, and therefore i am try all the sources through which i can get information about bitcoin.

There are a million and one coins out there to invest on, but most of them are not even worth the chips they are sitting on. So a good way to separate the wheat from the chaffs is by studying and evaluating the technologies behind a coin and the need it proposes to fill. If the market capitalization also agrees with your findings, most probably points to many investors seeing the same picture as you and as such, that coin or asset is worth investing on.

Studying the coin or doing research is a the best choice to choose from because if you don't have the information or knowledge about that coin and you are just the greedy investor or trader that always put their money in the coins they didn't know much then most of them will end up losing their money and getting big negative profits.

To become a good trader analyze first if the coin is shit or not. Don't stock your funds in shitcoin 2 days is very long. Research for the first before trading. sell at high Buy at low just remember that. 

yes there is no doubt about this that if you are going to invest your money in alt coin  you need to get some good information about that coin and only then you can invest your money there.

Unfortunately for altcoin trading, you may get some information but definitely you may not get affecting news for them as their fluctuations are purely decided by some insiders. That is the reason I'm not at all trading them.

Comparing to Forex trading, bitcoin is less sensitive to news hours, yet having some strategy would be great and I am still developing them.

This is very important. I think the trader has to be aware of all possible sources, reliable sources, of course. I have realized that it is possible to learn a lot in accessible sources, like reddit, or even here in bitcointalk. I think it is useful to also identify the main available communication channels of the projects in which you invest, and try to follow the development closely.

That would depend on what news you are listening to as some news impact the market much more that others. If a news report on interest rate, inflation, quantitative easing, sovereign debt, etc, makes the headlines, neither the rates in the forex nor cryptocurrency markets remain standing and looking.