Bitcoin Forum

That's my current strategy right now.

Buying any coin on a steep decline and selling once the price tries to balance.

What do you guys think?

In theory,  this is exactly what you should be doing, buying low and selling
high.  The problem, and the reason why it doesn't work for a lot
of traders is that you have no idea if those shit coins are going to
go back up, ever.   Another thing is that this market is heavily manipulated
and is subject to the whims of pumpers and dumpers.  So the dice are
loaded.

Buy buying low and selling high...yeah, you're on the right path.   Good luck.

So would it be wise to do this to coins that are well known or not ridiculous coins? Right now I'm doing this on bittrex but I think this trading would be better suited for poloneix correct me if i'm wrong.

How do you call bottom and why are you confident it will rise again?

Buy low, sell high is the strategy, the details are the complicated part. :D

All time low through candle stick chart.

In my opinion (and you'll hear all sorts of them here), stay as far away from the garbage
coins as you can get.  Especially the ones that trade near 1 satoshi, because even if you buy
them, you'll have a hard time selling them because no one wants them, and the markets aren't
liquid.

If you can buy some of the bigger name coins on the dip, that's what I'd do.   And remember,  patience
is a virtue and a friend to all traders.

A shitcoin generally stays a shitcoin forever. You can buy some and sell them later once the price is raised but as it's not guaranteed you are still taking a risk, surely bigger than the Notshitcoins. I am not good at trading but I think those shitcoins worth when you are part of a pump an dump group

Well that's the problem with BITTREX they'll take ANY shitcoin and poloneix doesn't.


Is it wise to use both exchanges?

This is just a simple or basic thing on doing trading but well you are thinking on the right way to do on which you should buy on dips and sell on price increase but you should really be wary on your actions because not all dip prices would tend to rise later on because most coins dump their price forever and would not tend to rise up later on which you would really end up as a bag holder of those shit coins which is really a waste of money.

Well, it can go lower, and 1 satoshi is not the minimum possible.

How's that been working for you?

Not bad however have had failure through some shit coin. That's why I'm thinking of switching to polo exchange for this type of trading since its a harder exchange to break into.

Even though the exchange isn't well reviewed I could always transfer after satisfied profit.

Yes you are actually doing the right thing in trading, buy low sell high and it is risky but less risky than betting on gambling sites. You just have to wait till the coin price spikes and then sell them, easy money easy profit. Oh and make sure the shitcoin you are buying is active and not a dying one.

How do you tell if it's a dying or an active coin is my question here

Of course that's insanely risky. We are well over 800 coins now (not to mention all the eth tokens). Assuming that 75% of those are garbage coins, you'll be spreading yourself pretty thin over 600 coins hoping to hit a winner. But lets imagine you did this. How do you decide when to sell and take your winnings? People get all excited when they see things like chaincoin rise 5,900%. I've heard people say "well if you put $200 into chaincoin before it pumped to $6, you would have had $12k." But imagine you actually did put $200 into chain coin when it was $.10. You see it double, do you sell? 2x is great. Now its 10x, do you sell? That's a 900% gain, more than anyone could hope for. 20x, 30x, 40x, 50x, 60x it just keeps going up you can't sell and miss out on these gains. And then within days you're back down to 6x and probably only going down from here.

It's easy to look back and say "Well only a couple bucks in this shit coin woulda been a ton at the peak." But in reality, it's impossible to tell where the peak is going to be. Overall, you'd be lucky to break even just trying to shotgun shitcoins. Even if you did make a bit of gains, it would probably still be much less than the gains from a simple strategy like holding the top 10 coins.

Trading shitcoin for a very good profit is not easy, It take a lot of hard work.

I'm a specialist of the shitcoins, the most money i won is from them.

I cant give you my knowledge. If i do, peoples gonna use my strategy and kill the potential of the pump.

What i can do is, after i buy them i gonna tell peoples about em or not, depends.

I Can give you a free advise: poloniex is not as good as bittrex for shittychoins, so forget poloniex.

Here is an exemple of shittycoin that i pumped with 6BTC https://bitcointalk.org/index.php?topic=2040766.0 (https://bitcointalk.org/index.php?topic=2040766.0)

I Already make sure that a normal pump take place after my buy order, and thats what happend, also i predicted a lots of price pump and dumps during this pump.

The thing is, when they go for very low, the chances are big that they will not recover.

If you are strong enough to pump it up, others will dump on you.

You need to own a significant stake + a deep pocket to be sure about your strategy.

Dont worry mate, i'm way way above that.

Just cant give details on my strategy.

I already make 2 predictions and they were good.

Next month i gonna open a thread for my predictions.

With my predictions in 95% of cases all peoples buying the coin after i post it, gonna make money.

Days after days i update my strategy, and it become more powerfull, ttats why i said: At least 95% Accuracy on my predictions right now.

And in my strategy i'm the one who take the biggest risk, i gonna invite peoples only after the pump is in place. In case the pump doesnt work i'm not going to invite peoples.

It gonna be like unbreakblecoin thread, maybe better.
  
  

Interesting. Tell us more.

Read this: https://bitcointalk.org/index.php?topic=2057412.0 (https://bitcointalk.org/index.php?topic=2057412.0)

TBH, I have a friend that does this and im watching his portfolio grow steadily. I do my research and go with the good tech, he just throws money at every popular ico. We're both doing about the same, he's actually doing a bit better. I believe my strategy is good for long term, and his is good for short term, especially with new money coming in.

Some shitcoins are less shitty than other shitcoins and this is the most difficult thing to spot IMO.

Really nice thread.  Smaller coins have very high potential to grow!

Indeed! This is the smartest and simplest strategy for making profit in the crypto world. No matter what coin are you holding onto, if you are sure enough about its rise in the near future, it is definitely good idea to buy that coin at cheap rate and let it go when it booms so high in the market?  Following this strategy can make you rich soon.

That is exactly the way to go. But the markets are so illiquid sometimes. It is really hard to time it right!