Bitcoin Forum

Hello Everbody,

im interested in altcoin daytrading just for fun. Do you know some tutorials espacially for daytrading altcoins without spending real money?
Im also interestet in an explaination for the charts. It would be nice if you can provide me some links that cover this topic.

Thanks in advance!

All I can say is don't go in with more than you are willing to lose. And be patient, you will probably learn the hard way not to panic sell.

Thanks for your advice sniksen. Im mining some light and feather coins in order to transfer it in some other currencies. I dont want to spend real money and i dont think that am going to make money. I just want to see what happens and how it works aaaand if im able to make some profit.

I know what you mean. I mined some with my laptop and visited faucets to get free BTC and traded with all that .Got 112 worldcoin out of it so far :) It's not much, but good fun as you say.

Hi,I've been trying a little day trading on the Cryptsy trading platform. I chose them because they had the most pairs to trade with. So far I haven't had any troubles with deposits or withdraws. It's pretty simple, they have a buy and sell box in the trade section, or your can purchase directly from the buy sell order books. Accounts are free to open only thing is you can only fund the account with Alt coins not USD, so if you have coins already you can open an account, deposit them and begin trading, or you can purchase Alt Coins independently at Coinbase or even Ebay for a premuim. There is a reward system at the trading platform,where each time you trade you earn Cryptsy points which you can convert into Bitcoins, and they also have a referral program, anyone you refer, you get a referral tip each time that person trades on the platform.  Also regarding tutorials check out youtube where you'll find many that helped get me started Hope that helps. Best of luck &  Happy New Year!

I just have to say cryptsy is the slowest exchange I have used ever

You can't buy altcoins on coinbase, can you? You buy BTC there and wire it to cryptsy. And it's slow yeah :P

Buy high at the peak of the greed spike and then when it looks like nobody is interested anymore and the value is very low, sell to get half your money back. Rinse, repeat until all money is gone. Have fun!

I only know demos for forex trading. It's a good training anyway...
an example is FXCM

You should threat it mostly very similar to as you would trade penny stocks.

Bump? Any more FX or crypto trading information or personal experience would be extremely appreciated.  I can follow a coin well when it has a large popular premise but I don't understand stuff like fear and greed or how they drive the market.  In relation to that I also don't understand and I fail to see predictable patterns in currency economics relating to fear and greed that some are keen enough to exploit.  Anyone?

Probably not going to get much advice in the newbie section. IMO play around and work out your own style, I'm still working on mine.

Also keep in mind when the whole scene is going up it's hard to not make coin, but don't kid yourself into thinking that you're making coin because of your own skill.

You might want to try using BTC-e with QT Trader, it works good for me. Not a whole lot of currency pairs, but I can move from BTC to LTC and FTC easily

I tried this, but I always seem to buy just before a dump and then buyback right before the values jump up again :( went from ~1.2BTC down to 0.4BTC just from either buying/selling at wrong time or having money as USD when there was a big jump in value.

A lot of random luck needed from what I have seen.

good fun  ;D

Also BTC-e allows you to use Metatrader 4, which is a very nice forex trading platform. You can do a lot of technical analysis with charts, indicators, etc. Totally worth the free price.

Altcoins certainly hold a lot of potential for substantial gains, at least in the short term, over Bitcoin ( and Litecoin). Its simply a matter of picking the right ones. Which ones are different, really. Innovative. Catchy, even. Know when to get in and when to get out, if necessary.
They can be extremely profitable.

Another noob considering dipping my foot in there; finally got some btc so i've been drooling over ANTminers.. cubes.. oh the humanity!

Considering they will be able to at least be able to still mine the SHA coins for use with trading. That helps with my noob anxiety.

I wouldn't recommend it.  I don't think there are many new SHA coins and I don't think that any developer plans on making a SHA coin.  Considering most SHA coins have been around for awhile and the difficulty is pretty high..
If anything, I'd suggest buying a few video cards and making your own rig for Scrypt mining or waiting for the Scrypt ASICs which will be very versatile and a worthwhile investment, I'm sure; since that would let you basically get rich off of any upstart (not to mention mining say Doge, StableCoins, Mega, Lotto, etc....etc)

Ive been doing a ton of speculating; like everyone else :) using sites like http://dustcoin.com/mining and http://www.coinwarz.com/cryptocurrency

I imagine PPC, terracoin and whatnot should be viable with the SHA ASICs.

Have certainly considered setting up my own 1.5~mhash scrypt rig; why not both?

Thanks for the tip. I had not heard of Metatrader.

I created a account on Cryptsy (https://www.cryptsy.com/users/register?refid=118702). But find it hard to pick the right trade. I searched for tool - a ticker or something to "monitor" my Stats for Cryptsy, but was not able to find something.

So I guess Ill try BTC-E, Metatrader and QT Trader.

Are there any tips for daytrading here? I was thinking to pick the Alts that have a high Volume % (cfr coinmarketcap)? Is this a good idea?

if you have to ask - You should probably stay away from doing this! as 99% you will loose your ass if you have no experience whatsoever trading something else already
its more or less like trading stocks=but much easier and higher returns tho.

http://cryptocoinradar.com may help you with your daytrading needs by revealing altcoins whose price/volume fluctuated recently.
The service shortlists hundreds of tradable cryptocoins to the few ones that are trendy now.

This with a bot on Bittrex and you can make some good profit. :)

Hmm..thanks for this link. Might be quite useful :)

Using Btc-e for trading altcoins is a good option for me,condition is that you be patience and never put of something that you cant afford to lose onto this game