Is this a decent strategy? (selling ico first day on exchange)

[photonfanatic]

I'm still honing my strategies of course, but the one I'd like to ask you all about, is doing a pump and dump on ICO's. And my question is this: If an ICO is well hyped and generally not viewed as yet another scam, would a good pump and dump strategy be, to buy into an ICO and then dump it on the first day that it hits the exchange? So you'd buy into an ICO that actually seems to have promise, and that the community generally doesn't believe is another scam. Then, on the very first day that it hits the exchange, dump it.

From what I can tell, most ICO's (even the scam ones unfortunately) do pretty well on the first day that they hit the exchange. They've finally made it to the exchange, and lots of new people want to buy some. But if you bought say 30k or 100k coins of it before it hits the market, now you're in a good position to make some money on that day. Basically you're dumping it before it has time to taper off. Granted, this strategy won't be useful all that often, because its not every day that a decent ICO actually hits the exchange. But when it does, and you've done your due diligence with your research on it, would selling it the first day it hits the exchange be a good pump and dump strategy?

[jeffthebaker]

This was certainly the case in recent times, but now that we've entered a bear market, it's hard to say that any and all ICOs are going to net you day one profits. A good parameter to set on top of that is to only buy into ICOs with an already working product, and if not that, a launch that includes a working product. If you can't find anything that meets this criteria, at least wait for something you personally feel good about.

[photonfanatic]

Thanks for the reply, its much appreciated! That sounds like good advice; I'll incorporate it into my ico strategy.

[Ayers]

yeah it's the best strategy, it worked in the past, but now that everyone learned i'm sure it's not working good like in the old days of lisk, everyone rush to dump fast his/her ico so you will get little profit now, but it's better than nothing, and NEVER wait to sell your ico, every ico die almost 100% after one month of release, just look at the previous ico all the same road

[bucciarati]

depends by the ICO, maybe it's better on day 2 or 3 as a general rule, but there will be cases when you'll regret, very few but...

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[Jalum]

depends by the ICO, maybe it's better on day 2 or 3 as a general rule, but there will be cases when you'll regret, very few but...

Posted From bitcointalk.org Android App

People that sell their coins right after they get it usually regret it when they see that they got less money back compared to their initial deposit. There's ICO's out there that go up 10 times their ICO value once the coin get placed on an exchange. If a coin pumps like that then I would sell a potion of the coins immediately. Sell the coins at a high price and buy again when the price is low.

[photonfanatic]

Ok thanks again for the help everyone. You guys are really helping to educate me. I'd like to ask: If not on the very first day it hits the exchange, then when is a good time to sell the ICO?

From the replies, I've gathered that the first day, would be too soon. It seems like the 2nd or 3rd day may be better. But I haven't been watching long enough, to have seen how that usually goes. So would it be better to sell the ICO on the 2nd day, the 3rd day, or the 5th or 7th day? How long does it usually take to start dropping? Reading this thread, it seems like it keeps going up even after the first day is over.

[kelseydustin]

No, selling ico on the first day will not give you the best profit. Wait for at least 12 hours sand the coin will be bumped at least 25%, then sell them all and wait for another dump, keep repeat that action until you earn %100 of your current money. There are still many ways to make money on an exchange without participant in any ICOs. Try to learn more about trading and you will know all those skills

[Spoetnik]

I love this topic and i look forward to all the top shelf replies from the NOOB account investment advisers.

[John Titor]

I love this topic and i look forward to all the top shelf replies from the NOOB account investment advisers.

You and me both, it's like these guys WANT to lose money

[photonfanatic]

I love this topic and i look forward to all the top shelf replies from the NOOB account investment advisers.

Ok well, do you care to weigh in? What would you do? I take it that you never invest in ico's?

You and me both, it's like these guys WANT to lose money

I really am interested in learning, and avoiding mistakes. From your reply, it sounds like you've spotted something wrong. What would that be?

[Spoetnik]

Investing in ICO's for profit then asking us if it's cool to dump on day one ?
What is there to weigh in on here ? LOL

[danherbias07]

That is pure money hoarding I guess.
You didn't even look at how the coin will progress and just take the profit from investing then a sudden withdrawal.
Where is the faith in the coin there.
You supported it before the ICO and after all of that it is just fake advertising when you meet the a certain profit.
But have you ever think of a what if? What if suddenly it will rise and you could not even buy a single coin of it because of the expensive price.

[daadog]

I'm still honing my strategies of course, but the one I'd like to ask you all about, is doing a pump and dump on ICO's. And my question is this: If an ICO is well hyped and generally not viewed as yet another scam, would a good pump and dump strategy be, to buy into an ICO and then dump it on the first day that it hits the exchange? So you'd buy into an ICO that actually seems to have promise, and that the community generally doesn't believe is another scam. Then, on the very first day that it hits the exchange, dump it.

From what I can tell, most ICO's (even the scam ones unfortunately) do pretty well on the first day that they hit the exchange. They've finally made it to the exchange, and lots of new people want to buy some. But if you bought say 30k or 100k coins of it before it hits the market, now you're in a good position to make some money on that day. Basically you're dumping it before it has time to taper off. Granted, this strategy won't be useful all that often, because its not every day that a decent ICO actually hits the exchange. But when it does, and you've done your due diligence with your research on it, would selling it the first day it hits the exchange be a good pump and dump strategy?

Ofcourse that's a good strategy, I usually do so that I take out my initial investment and then I keep the rest.

So let's say I invested 10 ETH, then the price on release is 30 ETH, then I sell 1/3 of my total.

[photonfanatic]

Investing in ICO's for profit then asking us if it's cool to dump on day one ?
What is there to weigh in on here ? LOL

Ok well then maybe day 2. Or day 3. However long it takes for the price to spike up because it has just hit the exchange. I'm trying to figure out your meaning here... are you saying you wouldn't do this because you want to actually believe in the project? If so that's a noble goal for sure. Take a look at UEC or whatever. Its "Useless Etherium Coin." It went up to $50. All the while explaining that it was completely worthless. Just because of all the hype and free press it was able to attract, a lot of people made a lot of money on it. Are you against this? You're saying you'd never do this? Your meaning is still quite ambiguous.

That is pure money hoarding I guess.
You didn't even look at how the coin will progress and just take the profit from investing then a sudden withdrawal.
Where is the faith in the coin there.
You supported it before the ICO and after all of that it is just fake advertising when you meet the a certain profit.
But have you ever think of a what if? What if suddenly it will rise and you could not even buy a single coin of it because of the expensive price.

Well here's my .02 on that...

If we're being honest here, then we're all in this to make money. I think you already know that the cryptocurrency market would be about 5% of its current size, if you took away all the people that were looking to make money. It needs that money, if these great technologies are ever going to grow.

I find that this topic often leads to discussions like this. Which are pump and dump vs buy and hold. At this time, it looks like I would have faith in, and want to buy and hold Stratis, and Steem. I like those 2 projects, and think that they have great potential. I'd even feel some sense of pride in having contributed to them.

But if I can do some successful pumps and dumps of others, I'm going to. And think about it: If I did a few good pump and dumps, I'm not just going to say "Well that's it, I'm done. I'm now going to take the money out and go buy me a new car." I'm not going to do that, and I'd hazard a guess to say that most other investors aren't either. They're much more likely to reinvest. Which is certainly what I'd do, upon having some success. So that "lack of faith" in a particular project, actually leads to the better more worthy projects, getting more money to fund them. Cause I'll take my gains and turn around and invest them in projects that have a future.

Hope that reply explains my mentality a bit, and I look forward to hearing your reply.

[abilger]

If the ICOs offer 20-50 % bonus for early investors of course they will prefer to sell at the market opening.

By the way, new bitcointalk account doesn't always mean new at the market.