Altcoin Trading June - will I be able to make profit?

[jacktheking]

So, yesterday I deposited 0.02 Bitcoin* to YoBit.Net. I will be buying and selling Altcoin next Monday. I will be updating how much I lost or earn and what Altcoin I invested in here. I will try my best to trade Altcoin everyday. However, I wont be able to trade in Sunday.

I made a very small profit daytrading BTC/USD on OKCoin last month. And..

will I be able to make profit trading Altcoin? Answer to be revealed in July 01! Watch this thread!

*I know 0.02 Bitcoin is a small amount. The purpose of this is to tell others that we can start investing at 0.02 Bitcoin.

[SuplexCity]

Right on man, good luck on your endeavors. I'm in the same boat as you. I have some BTC floating around and just discovered AltCoin trading and I've become absolutely obsessed with it over the last few days. I am so fascinated with this new technology and market. I've thrown a couple BTC into the 3 different exchanges and now own 11 different coins. I admit I got my ass handed to me the first few days because I was learning this game but slowly I've been turning it around little by little. I was thinking of making a thread like this as well to track progress and invite others to discuss their portfolios and strategies but didn't want to clutter the forum with my n00bness. I'm interested to follow this thread and hope others contribute.

[jacktheking]

Right on man, good luck on your endeavors. I'm in the same boat as you. I have some BTC floating around and just discovered AltCoin trading and I've become absolutely obsessed with it over the last few days. I am so fascinated with this new technology and market. I've thrown a couple BTC into the 3 different exchanges and now own 11 different coins. I admit I got my ass handed to me the first few days because I was learning this game but slowly I've been turning it around little by little. I was thinking of making a thread like this as well to track progress and invite others to discuss their portfolios and strategies but didn't want to clutter the forum with my n00bness. I'm interested to follow this thread and hope others contribute.

Thanks for the supportive comment! I hope to see you and others day traders posting daily changes here. I also hope to see you as a full member.. earning lot of Bitcoin from Altcoin trading soon. I'm not a experienced forex trader, if possible, why dont you share how you turn the table back here?

[SuplexCity]

Totally man, I'm pretty into this. Its also amazing how small this activity is right now. I would bet there's less than 100,000 AltCoin traders in the world and maybe only 10,000 are active in a day. It presents a really fascinating, challenging and unexplored landscape.

I quite frankly embarrassed how much I got murdered in the first few days. Biggest things I've learned is to research and read everything you can find on a coin before you make a move on it.

And the biggest thing I've learned is it doesn't matter what the actual value of the coin but what the perceived value of the coin is. For instance a coin's value can be one thing but the only thing that matters in terms of trading is an exchange's perception of it at the time. I've noticed BTC38 is extremely inflated with their values not coming close to the actual price where Bittrex is quite competitive. Always be up to the minute on your prices using coinmarketcap as sometimes you can make sweet deals before other people know what's happening being up to the minute.

Right now I'm treading water but at least I'm not getting my head kicked in. I've been doing alright since I've gotten a basic understanding of how this all works.

This guide really helped me as well and helped turn my game around
http://pumperspicks.com/ultimate-altcoin-buying-strategy/

I think I'm going to give Ryan Pumper's group a shot.

[TaunSew]

Totally man, I'm pretty into this. Its also amazing how small this activity is right now. I would bet there's less than 100,000 AltCoin traders in the world and maybe only 10,000 are active in a day. It presents a really fascinating, challenging and unexplored landscape.

Lol @ these numbers pulled from your ass.

Federal Reserve Bank, in a PDF back in October 2014, said the number of Bitcoin human users (not addresses) was only 100,000.  So of course there are less than 100,000 AltCoin traders in the world, since there isn't even more than 100,000 Bitcoin users!  

That's after 6 years by the way, Whatsapp is newer and has 300 million users and digital messaging (like digital payments) started around the same time and it didn't stop PayPal from attaining 130 million users.

www.federalreserve.gov/econresdata/feds/2014/files/2014104pap.pdf


Lettuce beef cereal (let us be serious), while nobody has done the metrics or analytic on it, I would say the core following for alternates is only in the high thousands.  After all you would be hard pressed to know alternates even exist unless you follow the exchanges or read forums like Bitcointalk.

Comparable to Bitcoin, Alternates generally have no user adoption and none to my knowledge have proposed, let alone implemented, a concrete plan to acquire users.  Probably the best in the industry so far, despite its' creator being a slumlord and implicated in a direct revenue scam in the mid-2000s, is that NeuCoin thing which is going to spam its' Nut Coin on freemium websites but even his freemium websites only attract minor traffic (relative to the rest of the internet and people who are accustomed to free shit aren't going to buy or need magical internet coins).

[sdmathis]

Totally man, I'm pretty into this. Its also amazing how small this activity is right now. I would bet there's less than 100,000 AltCoin traders in the world and maybe only 10,000 are active in a day. It presents a really fascinating, challenging and unexplored landscape.

Lol @ these numbers pulled from your ass.

Federal Reserve Bank, in a PDF back in October 2014, said the number of Bitcoin human users (not addresses) was only 100,000.  So of course there are less than 100,000 AltCoin traders in the world, since there isn't even more than 100,000 Bitcoin users!  

That's after 6 years by the way, Whatsapp is newer and has 300 million users and digital messaging (like digital payments) started around the same time and it didn't stop PayPal from attaining 130 million users.

www.federalreserve.gov/econresdata/feds/2014/files/2014104pap.pdf


Lettuce beef cereal (let us be serious), while nobody has done the metrics or analytic on it, I would say the core following for alternates is only in the high thousands.  After all you would be hard pressed to know alternates even exist unless you follow the exchanges or read forums like Bitcointalk.

Comparable to Bitcoin, Alternates generally have no user adoption and none to my knowledge have proposed, let alone implemented, a concrete plan to acquire users.  Probably the best in the industry so far, despite its' creator being a slumlord and implicated in a direct revenue scam in the mid-2000s, is that NeuCoin thing which is going to spam its' Nut Coin on freemium websites but even his freemium websites only attract minor traffic (relative to the rest of the internet and people who are accustomed to free shit aren't going to buy or need magical internet coins).

Don't be an asshole. He said that it was a guess when he said "I would bet there's less than 100,000 AltCoin traders in the world." He never said that they were actual statistics.

[tyz]

Sure, there are always good oportunities to trade and make profit. Just watch the announcement threads for good news. i recommend Qora, NXT and NEM. Shadow is also pretty interesting.

[SuplexCity]

Been doing well today. Making a lot of quick sales. I bought a 30k shares of POT when it was at .0000039 and I've been slowly selling it off today averaging around a 10% profit as the price as been slowly bumping up all day. Really pleased with this stock and its fun selling POT.  

Also made a couple of small moves in VIRAL picking it up for .00004948 and moving a some of it for .00005500 for a quick 11% profit but price spike on that one only lasted about a hour before interest was lost.

I'm hoping GRID takes off.

Really kicking myself for not getting into ARB. I swear to god I was staring at it last night while researching and thought it was prime for a pump but decided against it as I've got some bad losers in my portfolio right now and didn't want to risk it. Sure enough it exploded today and has been the biggest winner of the day so far.

All in all though, not doing badly.

One strategy I want to try is to buy up coin late at night as it seems prices drop and there's much less activity and then sell during the day but I need these couple of losers to do something or get rid of them before I start accumulating again.

[jacktheking]

Really kicking myself for not getting into ARB. I swear to god I was staring at it last night while researching and thought it was prime for a pump but decided against it as I've got some bad losers in my portfolio right now and didn't want to risk it. Sure enough it exploded today and has been the biggest winner of the day so far.

Bought a few ARB yesterday and sold it for a little profit. Should have kept them and sell them today - and I will be able to make more profit. Just testing with another 0.01.

[NorrisK]

Are you going to keep a log of your trades and thoughts behind them? May be interesting for new traders!

[jacktheking]

Are you going to keep a log of your trades and thoughts behind them? May be interesting for new traders!

I will keep people updated about what I bought and what I sold. However, I wont be able to give thoughts and advice on all of them - maybe some.

[Q7]

Well I don't know how you are going to do it but best of luck. I hope you have a trading strategy in place and especially with a backup plan on hand. Trading alts these days are getting harder because generally people are pretty much aware of the risk and forthcoming event and they would sell at every opportunity even if that means making a marginal small return. Lost my stash once becoming a bag holder so for me, that's a painful lesson learned.

[JSupreme]

So, yesterday I deposited 0.02 Bitcoin* to YoBit.Net. I will be buying and selling Altcoin next Monday.

are you trolling on us? 0.02 btc is $4 dollars, you cant even buy big mac meal with this. when they take trading fee you will only have 3 dollar. you waste your time doing like this

[virtualx]

Totally man, I'm pretty into this. Its also amazing how small this activity is right now. I would bet there's less than 100,000 AltCoin traders in the world and maybe only 10,000 are active in a day. It presents a really fascinating, challenging and unexplored landscape.

Lol @ these numbers pulled from your ass.

Federal Reserve Bank, in a PDF back in October 2014, said the number of Bitcoin human users (not addresses) was only 100,000.  So of course there are less than 100,000 AltCoin traders in the world, since there isn't even more than 100,000 Bitcoin users!  

100.000 may be an underestimate. I think the real number is 1 or 2 million. The alt coin forum has about 700.000 posts, so probably there are less 100.000 altcoin traders in the world.

[pooya87]

good luck with your trades man. i am a beginner in altcoin trading too. although i am doing it slow and with small amounts like you i am increasing the amount little by little as i learn things and go forwards.

may i ask why did you choose YOBIT?

So, yesterday I deposited 0.02 Bitcoin* to YoBit.Net. I will be buying and selling Altcoin next Monday.

are you trolling on us? 0.02 btc is $4 dollars, you cant even buy big mac meal with this. when they take trading fee you will only have 3 dollar. you waste your time doing like this

it doesn't matter how small is your "initial" investment into trading is. the important thing IMO is that you start small, and not jump in big time.

when you invest $4 , if you lose, then you have lost $4 but learnt a LOT
if you invest $400, if you lose you get frustrated and leave.
and what you said about fees is wrong. fee is a percentage of the volume x% of 0.02 BTC not a fixed amount.

[SuplexCity]

I threw some points at Ripple today. The way that coin is acting on the market is so weird, something is up with it. Outside of that I've just been selling heavily gather BTC for the next round. 

[H.W.Z]

I am interested to know your outcome and what is your trading strategy? I will keeping watching this thread!

[jacktheking]

Well I don't know how you are going to do it but best of luck. I hope you have a trading strategy in place and especially with a backup plan on hand. Trading alts these days are getting harder because generally people are pretty much aware of the risk and forthcoming event and they would sell at every opportunity even if that means making a marginal small return. Lost my stash once becoming a bag holder so for me, that's a painful lesson learned.

Thanks for the kind comment. Why dont you share with us what you done to learnt the 'painful' lesson? So we can all avoid the potential pitfall.

good luck with your trades man. i am a beginner in altcoin trading too. although i am doing it slow and with small amounts like you i am increasing the amount little by little as i learn things and go forwards.

may i ask why did you choose YOBIT?

So, yesterday I deposited 0.02 Bitcoin* to YoBit.Net. I will be buying and selling Altcoin next Monday.

are you trolling on us? 0.02 btc is $4 dollars, you cant even buy big mac meal with this. when they take trading fee you will only have 3 dollar. you waste your time doing like this

it doesn't matter how small is your "initial" investment into trading is. the important thing IMO is that you start small, and not jump in big time.

when you invest $4 , if you lose, then you have lost $4 but learnt a LOT
if you invest $400, if you lose you get frustrated and leave.
and what you said about fees is wrong. fee is a percentage of the volume x% of 0.02 BTC not a fixed amount.

Same to you. I hope that you will be logging your trades here too. I choose Yobit because it is a new exchange with low volume. It's good for newbie trader like me to learn. I manage to turn 0.01 Bitcoin into 0.015 Bitcoin within two days. Was trying out with different strategy before I start trading more tomorrow. Might use Bittrex when I learn the basic and have more time to watch the market and chart.

I threw some points at Ripple today. The way that coin is acting on the market is so weird, something is up with it. Outside of that I've just been selling heavily gather BTC for the next round. 

Ripple is a good choice. When you manage to sell it off, posts here how much profit (hopefully) you have earn.

I am interested to know your outcome and what is your trading strategy? I will keeping watching this thread!

My strategy is newbie strategy - buy low and sell high.

[jacktheking]

Started trading on Monday!

Bought 100 ParkByte (PKB) at 0.00000355 Bitcoin (BTC).
Sold 100 PKB at 0.00000375 BTC.

Made a profit of 0.00002 Bitcoin which worth around 0.004490 United State Dollar (USD).

[pooya87]

Started trading on Monday!

Bought 100 ParkByte (PKB) at 0.00000355 Bitcoin (BTC).
Sold 100 PKB at 0.00000375 BTC.

Made a profit of 0.00002 Bitcoin which worth around 0.004490 United State Dollar (USD).

good work.
try to invest in multiple coins every time you want to buy and sell. there are a lot of coins that are giving profit every day. and if you can find them beforehand and invest in, you can get an easy and bigger profit every time.

also by spreading your investment between multiple coins, you guarantee profit. if you lose 1 others will cover the losses.

but if you have invested in one coin, and it goes down you lost your opportunities.