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Author Topic: Buying shitcoins dirt cheap and selling when they go up. Risky or no?  (Read 689 times)
manifo1d
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July 31, 2017, 03:10:45 PM
 #1

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?
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Pearls Before Swine
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July 31, 2017, 03:14:56 PM
 #2

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.
manifo1d
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July 31, 2017, 03:31:44 PM
 #3

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.
pedrog
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July 31, 2017, 03:34:32 PM
 #4

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?

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. Cheesy

manifo1d
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July 31, 2017, 03:48:30 PM
 #5

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?

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. Cheesy

All time low through candle stick chart.
Pearls Before Swine
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July 31, 2017, 03:59:17 PM
 #6

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.
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.
LeGaulois
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July 31, 2017, 04:16:45 PM
 #7

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

manifo1d
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July 31, 2017, 04:23:54 PM
 #8

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.
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.

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


Is it wise to use both exchanges?
Hamphser
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July 31, 2017, 04:27:58 PM
 #9

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?
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.

pedrog
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July 31, 2017, 04:38:22 PM
 #10

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?

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. Cheesy

All time low through candle stick chart.

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

How's that been working for you?

manifo1d
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July 31, 2017, 04:48:19 PM
 #11

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?

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. Cheesy

All time low through candle stick chart.

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.

Ewox
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July 31, 2017, 05:38:33 PM
 #12

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.

   
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manifo1d
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July 31, 2017, 05:44:48 PM
 #13

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
FiniteKez
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July 31, 2017, 05:53:42 PM
 #14

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?

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.
RewFrew
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July 31, 2017, 07:30:28 PM
 #15

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

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.
freedomsr40
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July 31, 2017, 08:19:15 PM
 #16

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.
RewFrew
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July 31, 2017, 08:39:16 PM
 #17

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.
  
  
manifo1d
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July 31, 2017, 09:33:19 PM
 #18

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.
RewFrew
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July 31, 2017, 09:39:17 PM
 #19

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
nknarula
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July 31, 2017, 09:50:28 PM
 #20

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?

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.
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