Bitcoin Forum

Im referring to this tweet:

https://twitter.com/qwqiao/status/1289631610137018369?s=12

I quote: "Seriously tho the best way to trade shitcoins in a bull market is trend following. Draw a bunch of MAs and buy if price > MA. If you can code do this for 100 shitcoins at once. Sit back and watch your BTC double. This tweet will get 5 likes but it's the biggest alpha I've leaked."


Could anyone explain in a simple word, what did he mean?

MA is abbreviation of Moving Average which is used in technical analysis, and the author only gave his opinion on how to trade using that indicator. Since I'm not a crypto trader, and obviously neither are you - it might be best to read the following article. I think some things might be a little clearer to you, but don't expect to be able to get rich just by trading in shitcoins - there are more who lose everything they have than those who can say for themselves that they are successful at it.

https://www.investopedia.com/articles/technical/052201.asp

Actually i dont even try trading, just wanted to know what did he mean.

Thank you for your explanation.

The idea is good but I don't think it would still work on trading shitcoins. The author obviously refer to the trend in the last bull run where shitcoins also rise together with the legit coins, but this time, people are more matured, so we will not likely see the same scenario.

If you have 1 btc then you buy 100 shitcoins > shitcoins has rised in value > your 1 btc may double or it may triple depending on what price you buy those shitcoin. Worst if most of those shitcoins dropped value we will have another thread here that crypto is scam.

Moving average is called as MA for short and the author is considering a MA and is telling us to trade 100 shitcoins at once according to the MA.
He is assuming that some of those shitcoins will get us the profit and double our investment.

Well this might happen some times but it might also turn our whole investment into a loss if those shitcoins don't increase in price.
I generally don't invest in shitcoins at all since there are so many potential coins out there to invest in.

Just as Lucius said,if you don't know what that means, just stay away from this kind of advice.

There is nothing like "just watch your btc double". The risk is enormous, you will most likely just lose your btc by doing so. Or do you think every is an idiot by just holding btc? People don't do that because the odds are mostly against you (simple because most of those altcoins aren't worth anything, and most of their price should be zero)

That's all you need there. In a bull market, almost any chart you see is on an upward trend and any twitter trend analyst will look like an trade expert because they can pick any altcoin, draw some lines using indicators like MA or whatever, post image on twitter, then wait. I've seen that happen a lot of times in 2017.

I believe he's talking about hyping the coin to catch the cryptocurrencies world attention and many of them may fall for it. We could the rise in the value of dogecoin when Elon Musk made a post praising it and it worked for bringing up its price by which many of its holders have made a whole lots of profits lately.

     Moving average is quite important when it comes to trading specially in this industry. But if you are planning to trade, this is a not so good idea if you ask me. It is better to not get involved in shitcoins since it obviously is what it's name is saying. Shitcoins can make your money disappear in a single moment. So if you plan to risk on these type of coins, better read a bit about those coins and observe. Choose a shitcoin that isn't that much of a shit(if you know what i mean). But even so, it doesn't guarantee much of a gain and much more tedious. I suggest that you go for good coins with good credibility. While it may not make you get 2x-10x profit, it is quite safer than those shitcoins.

Better not to try that strategy if you don't do trading. Stay yourself with the best coins that you can rather than diversifying too much like what was suggested by the author of that post. It is not an advisable strategy for people who are not dealt with trading.
You are prone to be rekt than to make with that strategy.

pump and dump is a form of manipulation and as any manipulation goes, they are hardly predictable because they are not natural market movements. of course there are always signs on the charts but i have never seen moving average work well in predicting a pump and dump.

think about it this way, if it were this simple to predict an unpredictable thing called pump then every newbie with a bot would have been super rich by now!

The man have much money will have great power on their hand and waste your time to analyze when pump and dump, check last happen on today when bitcoin higher price suddenly going down more than minus 20%, if you keep reading chart impossible to do it but whit some one have much money and sell his bitcoin assets could make bitcoin going down.

Aside from that, there is far greater risk in trading shitcoins.  Most of them have low to no volume.  A short term activity of pump and dump before going idle for very long time again, besides most of the trades of shitcoin is manipulated so, unless we know some insider, we will never guess the start and end of the said pump and dump activity.

Like what "shitcoins" did rise alongside with the BTC pump?

What I don't get is, how to draw/code a bunch of MA's if those shitcoins didn't establish a good volume, even a bit, after all.

Maybe it's for "low cap coins" or something called along those lines?

Well, heard this so many times in my friend who had actively traded on the crypto trading business. But he said that this is only profitable in a short period of time. Just like a shit coin have a massive hype if you know they're doing this kind of manipulation, it is the time grab the opportunity. However, this MA is also can be used as an indicator of TA. But I consiered this trategy is very risky, I better prefer on bitcoin and top altcoins on CMC.

The same could be done for Bitcoin in a bull market but nobody knows when it will end. There's always a bunch of smart guys who say "I told you so" right after it happens but not many able to predict it. Usually it's like this - buy a shitcoin with high hopes> watch it go up for a few days > watch it dump in 1 minute > Sell with no profit.

Exactly, that's what we witnessed in the last bull run but I'm quite sure it's not likely to happen in the next.



Whales can make on their own, they can manipulate the price to invite traders then probably dump and get out when profit is made, but the question is, will it draw the attention of the traders when the market is bigger now and we have a lot of good coins to trade with legit volume. I think this experiment would fail if applied in the next bull run.

He mean that auomation of buying and selling crypto alts based on public interest data could be beneficial.
Saying this is one thing, building system that do that successfully is another story.
Simple to say, hard to do in other words :)

I am not a good trader, but, is it serious this i sthe best way to trade shitcoins and double your BTC?
Well, is it too risky, isn't it?
Let's say that there are some people who think the same and buy the shitcoins using their big amount of BTC, the shitcoins may be up again. But, how long they will survive? Or they will only face the stagnant price after it? Or only a sudden increase and then......
If the shitcoins can increase significantly and also continuously, you may get some profits of it(not double of your BTC as soon as possible).
but, how if the price drops again till the bottom? You can lose your money from it. 
Of course, it is part of your risks. But, is it too risky to put your BTC into shitcoins and gamble for the shitcoins to double your BTC?
I think that you should think triple times to follow this.

It's just some bullshit know it all pretentiousness. If things were as simple everyone would have been programming bots to reap profits of the market.
Hint: things aren't as simple.

Try this and you will be burned.
There are firms out there working with AI bots and millions at their disposal and dudes think they can compete with a simple Moving Average?
Just HODL. Maybe buy more to hodl too. Always the best solution.

He's basically saying to buy alot of shitcoins when the price is above moving averages and if you can build a program through coding then you can automate your buy and sell of altcoins.
Honestly, i wish it was that simple to gain profit but in reality you'll only loss money with this. As shitcoins are mostly abandoned projects and MA is not only the basis to buy crypto's.

It means you shall buy bunch of shitcoins for your bitcoin to double up. Well, i don't think it will gonna work even the moving average will show some positive signs after following this man's advice. We just can't buy shitcoins and take that risk to be deficit at the end. And how much quantity do he want us to buy those cheap shitcoons?

Yes, those who are working from this market also have same sentiments, if the same thing will
happened from the last time bull
Then this predictions is really possible to happen and if you have good amount of extra money
placing your investment to alts may bring decent to you.


You need to be careful in choosing the ride, there are manipulation that can be done in just a
glimpse of eyes, you'll be trapped if you are not careful.


There are different views in terms of trading strategy, those who are aware of how risk accompanied
this kind of assessment will have back up plans
In case mistake in positioning their entries they can easily move out and reopen another entries to
cope up with loses then recovers.

That's quite true but you never go into shitcoins with both feet that you lose everything.

did he literally mean shitcoin? because i dont think shitcoins pump when there is s bull market or he just called a typical crypto a shitcoin .  coding is hard and why we need to code when there are free pre configured tools that we can use to automate a trade ? now  i wouldnt wonder why his tweet got only 5 likes  .

 what i only like here is that i learned a new word or a method called m.a  , i could have gave him a heart for this but sorry im not on twiiter anymore  

He suggests that now is the right time to get profit by trading 100 shitcoins at once, which shitcoins will pump to follow
the current bullish market. So when the price goes up, we can directly sell the shitcoins that we have. By using BTC pairing
we get the amount of BTC we have automatically will double. But a strategy like this is very high risk, if the market suddenly
goes down. We will soon lose all capital we have.

then this will be a drama where shitcoin wins its main role because 1btc is gone in an instant.

Choosing shitcoin isn't just choosing. there is a lot to consider about the volume that is owned and how active the developer is. but most shitcoin will only hurt. There are still many other coins which certainly have better and safer profits. Choosing shitcoin is ready to carry all the risks.

He basically says you need to unfollow him and block his tweets.
Somebody who has found a bulletproof method of doubling your BTC based on some indicator is just talking nonsense.
Do you think that if his method would have worked he would still be tweeting like a madman trying to pump random shitcoins?


I've never seen a single indicator that managed to guess with constant results any kind of move, not even talking about pump and dump, ff there would be any, traders taking advantage of it would ruin it immediately, acting in order to take profit of the trend before others and through this putting the breaks on it.


How dare you bring logic to a TA discussion?  ;D

I personally will never think about it, spending my BTC to buy shitcoins in order to make the coin pump again in the market. This are holly risks that I will take. Personally, I will not risk myself into this kind of gambling that will probably make me lose all of the funds. I think that rather than choosing or buying the shitcoins, I will prefer to buy the trusted coins or new coins with the real use cases and listed on the big exchanges. This is a safer way, I think.