[ANN] HOW TO TRADE YOUR ALT-COINS 101 (CRYPTSY)

[deeppurple72]

Too many noobs want or expect a quick, immediate trade --- this is very stupid and unwise

You must have some patience if you really and truly wish to make a good profit


On Cryptsy ( or any other trade exchange ):


(1) NEVER AUTO-SELL COINS

(2) NEVER SELL @ LOWER THAN THE SALES ORDERS

(3) NEVER SELL @ DEFAULT SELLING PRICE - ALWAYS SELL HIGHER

(4) DO NOT DUMP HUGE QTY of COINS FOR LOW PRICES TRYING TO MAKE SOME QUICK TRADES!

     *  If you have ALOT of coins, make MULTIPLE sales orders, splitting them up

     *  Sell them at different prices, but ALWAYS HIGHER than the CURRENT BUYING price / DEFAULT SELLING price

(5) DO NOT TRY TO SELL CHEAPER THAN THE OTHER GUY --- YOU WON'T MAKE MUCH PROFIT.
     A SMART INVESTOR WILL BUY UP THE COINS YOU DUMPED AND RE-TRADE THEM LATER,
    AND HE WILL BE THE ONE MAKING A BIG PROFIT OFF OF WHAT WERE YOUR COINS!


BE SMART, AND MAKE GOOD TRADES.  YOU MIGHT MAKE 2 or 3 TIMES MORE IN TRADE IF YOU ARE PATIENT
AND FOLLOW THESE BASIC RULES.  EVEN IF IT TAKES SEVERAL DAYS FOR A TRADE TO HAPPEN, IT WILL BE
WORTH IT WHEN YOU SELL FOR MORE.

PLEASE DONT DUMP COINS IN EXCHANGE FOR "DUST" !   LoL

[CryptoGuy]

Great advice but noobs will always panic sell when the trolls come around, unfortunately. But hey, I wouldn't be able to buy low if they didn't

[deeppurple72]

about the guys dumping coins for dust on exchanges.....

THIS IS HOW THE SCAM WORKS:

An INVESTOR looking to get rich wants to BUY new coins for "DUST"

(1) He creates MULTIPLE accounts...

(2) He dumps coins for "dust" using 1 account

(3) He quickly buys them back using a 2nd account

This fudges the last BUY & SELL trades to trick people into thinking their coins have NO value
abd that you'd better hurry up and SELL now for nothing, before your coins become worthless....

this is stupid!  But this is how those scamming traders/investors F-CK us miners out of our coins!

Then they sell YOUR coins next week for 10, 100, or 1000X what they bought them for!


Also, miners have no patience in the markets --- always wanting an instant trade ( gimme BTC/LTC Now! )
The investors know this, and sit back while you miners keep trying to undermine one another and
dump your coins for less and less than the other sellers ( desperate to get a very small amount of BTC )

If miners understood this and work with each other, rather than against one another,
then you will receive fair trade values and get good exchange rates....

Leave your coins for 24hrs on a sell order ( dont worry if they dont sell in an hour or two )
check back the next day and often you will find someone bought YOUR coins for a much HIGHER rate!




 ALWAYS --- ALWAYS SELL FOR A MUCH HIGHER RATE!!!

Yeah , you could get $1 now, but if you wait until tommorrow, you will get $10 instead!

[Nullu]

This dust tactic..I see it all the time.

Are people really not paying attention to the amounts being bought and sold? It's plain to see when someone's manipulating the price by tiny buy/sell ping pong transactions.