Random coin picks experiment

[xiver88]

In the bull market, any altcoin can pump anytime. It happens all the time. Look at recent pumps of BSV, HBAR, XVG etc. No matter what factors lie behind these pumps it happens.

I don't know which coin will be pumping next and I don't trust any trading advisors, gurus, twitter stars. So I came up with a simple solution that satisfies me for now, but I need some advice to improve it.

It will be round by round investments. Each round has own duration and profit goals. For now, I think about max 1 month and min 100% ROI. I wrote a script for choosing random coins (X) from the list of coins with mark cap >= 100m (Y). X is planned to be somewhere between 2 and 5 coins. I plan to distribute the budget evenly. The goal is to keep everything as simple as possible.

I appreciate any improvements and advice on my strategy.

[mk4]

If your goal here is just to have an experiment for entertainment and curiosity purposes, then great. I'm really interested. I just hope you don't see this "strategy" as an actual trading strategy to actually earn money.

[Dart18]

It looks more like short term investing.
I see less profits here or worse there could be none and you lose more.

Random?
C'mon. In year 2017, that could have worked. But now? No way.
This era is more like just dumping the altcoins and going for stable coins. That is why all my altcoins are still rotting in a big old wallet. Different wallets actually. 

[xiver88]

If your goal here is just to have an experiment for entertainment and curiosity purposes, then great. I'm really interested. I just hope you don't see this "strategy" as an actual trading strategy to actually earn money.

The thing is I do see it as an actual trading/investment strategy. I just realized that this method totally satisfies me, as I don't want to fall in the stress of checking every news, graph, twit. I relly on assumption that simplest way to make profits in this market right now just guess. But conditions should be worked thoroughly. That's why I ask for some advice. Maybe budget allocation should be changed, or duration. I don't know yet, but hope someone has experience and ideas to share.

[GreatArkansas]

Extremely risky!
As what @Dsrt18 said.
2017 will not happen anymore for me, it's really difficult for this hear or upcoming years since last 2017 was the ICO FEVER,  most of the altcoins before are based and under on ethereum.
And look most of altcoins now from 2017 parabolic run, still 50 % - 99% down.
Random picks without any fundamental/technical analysis is like playing on loterry.
Much better if you do that on top 1-50 highest market caps, much less risk for sure.

[BlackFor3st]

In the bull market, any altcoin can pump anytime. It happens all the time. Look at recent pumps of BSV, HBAR, XVG etc. No matter what factors lie behind these pumps it happens.

I don't know which coin will be pumping next and I don't trust any trading advisors, gurus, twitter stars. So I came up with a simple solution that satisfies me for now, but I need some advice to improve it.

It will be round by round investments. Each round has own duration and profit goals. For now, I think about max 1 month and min 100% ROI. I wrote a script for choosing random coins (X) from the list of coins with mark cap >= 100m (Y). X is planned to be somewhere between 2 and 5 coins. I plan to distribute the budget evenly. The goal is to keep everything as simple as possible.

I appreciate any improvements and advice on my strategy.

What a unique type of investment but I completely agree with your statement, once the bull run is coming almost all the potential altcoins are growing up or most of them are green.

I didn't see any potential altcoins that didn't rise it's price in the last 2 months. But 100% ROI will likely to happen in 2-4 months period if the price will continue to grow and if you will only buy them at this moment so it will be a long term holding.

[mk4]

The thing is I do see it as an actual trading/investment strategy. I just realized that this method totally satisfies me, as I don't want to fall in the stress of checking every news, graph, twit. I relly on assumption that simplest way to make profits in this market right now just guess. But conditions should be worked thoroughly. That's why I ask for some advice. Maybe budget allocation should be changed, or duration. I don't know yet, but hope someone has experience and ideas to share.

Then I'm sorry but it's simply bound to fail. If it was that easy to pick the right coins to profit on, then majority would be doing really well, which is obviously not the case. For this to work, you'd need a similar altcoin bull run as big as what we had in 2017, which is quite unlikely to happen again in my opinion. People are ever so slightly smarter now even though some of the useless and scam coins are still at the top 20.

[avikz]

It will be round by round investments. Each round has own duration and profit goals. For now, I think about max 1 month and min 100% ROI. I wrote a script for choosing random coins (X) from the list of coins with mark cap >= 100m (Y). X is planned to be somewhere between 2 and 5 coins. I plan to distribute the budget evenly. The goal is to keep everything as simple as possible.

I appreciate any improvements and advice on my strategy.

I appreciate your courage mate! Please remember the golder rule of crypto trading - never invest anything that you can afford to loose! I hope you have kept a small budget for this experiment because it sounds really very risky!

As per the current coinmarketcap data, it seems like you will have around 70 coins to choose from so it will be a big gamble because market cap data is often deceiving. I will rather suggest you to use daily volume. If you choose among coins with 100 million daily volume, it will narrow down to 40 coins only. It will reduce the risk factor drastically down. Think wisely!

[xiver88]

Thank you guys for replying. Got 2 strong opinions to consider: 2017 bull run not gonna happen again and alternative to mark cap is daily volumes. That's really useful to rethink some points. I will probably decrease expectations from ROI to somewhere between 20-80%. And will think about the criteria for choosing coins on my list. And yes, I will invest only what I can afford to lose. That's rule #1 for me because crypto is unpredictable.

[stomachgrowls]

In the bull market, any altcoin can pump anytime. It happens all the time. Look at recent pumps of BSV, HBAR, XVG etc. No matter what factors lie behind these pumps it happens.

I don't know which coin will be pumping next and I don't trust any trading advisors, gurus, twitter stars. So I came up with a simple solution that satisfies me for now, but I need some advice to improve it.

It will be round by round investments. Each round has own duration and profit goals. For now, I think about max 1 month and min 100% ROI. I wrote a script for choosing random coins (X) from the list of coins with mark cap >= 100m (Y). X is planned to be somewhere between 2 and 5 coins. I plan to distribute the budget evenly. The goal is to keep everything as simple as possible.

I appreciate any improvements and advice on my strategy.

You might able to see the common way on how price do moves and yes it can pump unexpectedly.If you can able to profit into your own experimental system then go ahead.

Good thing that you do realize that gurus,professional traders are just a total shit or waste of time.Just put on mind that you shouldnt strive or force to hit goals like
100% in a matter of 1 month yet this had been always unpredictable neither achievable or not on said duration.

Just always mind and be strict on following risk management.

[Ucy]

Probably better to create bots to earn from the fluctuating price of established cryptocurrencies. This is safer and can earn you consistent profits. You just need to properly set the bot to buy important dips and sell bit by bit as price recovers. You could just leave some amount of coin for long-term increase in price

[xiver88]

my_crypto_list = ["ETH", "XRP" "BCH","BSV", "EOS", "LTC", "BNB", "XTZ", "ADA", "TRX", "XMR", "XLM", "LINK", "ETC", "DASH", "NEO", "ALGO", "ATOM", "IOTA", "BAT", "VET", "XEM", "ZEC", "ONT", "HBAR", "QTUM", "FTT", "LSK", "PAX", "RVN", "ZRX", "ICX", "NANO", "WAVES", "OMG", "HOT", "ENJ", "HC", "DOGE", "BTT"]

I have made a list of 40 coins with either high mark cap/ high daily volumes/ or both. I will randomly pick 2-5 coins among these 40. Did I miss anything?

[mersal]

Better pick the trending coin over any random coin to increase the chance of getting reaps for your investment.You can visit coin market cap to kniw highest price bump for lasy seven days the pick the coin with more trading volume and total market cap.

[webtricks]

In the bull market, any altcoin can pump anytime. It happens all the time. Look at recent pumps of BSV, HBAR, XVG etc. No matter what factors lie behind these pumps it happens.

I don't know which coin will be pumping next and I don't trust any trading advisors, gurus, twitter stars. So I came up with a simple solution that satisfies me for now, but I need some advice to improve it.

It will be round by round investments. Each round has own duration and profit goals. For now, I think about max 1 month and min 100% ROI. I wrote a script for choosing random coins (X) from the list of coins with mark cap >= 100m (Y). X is planned to be somewhere between 2 and 5 coins. I plan to distribute the budget evenly. The goal is to keep everything as simple as possible.

I appreciate any improvements and advice on my strategy.

I don't know how this strategy gonna help you earn more. At the end of the day you are just choosing coins on the basis of random selection. No doubt, during bull market most of the coins with large market cap have discrete rallies but it is not possible to identify them and make benefit of them by simply picking coins randomly and investing in them for specific period.

You need another variable so to make choice of coin a bit more organized. I will give you an example, you can think of something similar: Why not add another variable Z which is the number of times a coin has been mentioned on Twitter. For example, Zb i.e. number of times #Bitcoin or $BTC mentioned on Twitter is 5K whereas Ze i.e. number of times #Ethereum or $ETH being mentioned on twitter is 3K during last hour. Now if Zb rises by 50% in next hour, it shows that people have started talking more about Bitcoin on twitter which maybe due to sudden price rise.

You can make bot to shift investment into that coin as it may indicate the upcoming rally. Well this was just a random suggestion, you can think of something more accurate. I just trying to make point that choosing random coins will do more evil than good.

[beerlover]

This was done before with the random number generator given to a random number generator website and given the number of 1000, so whenever a number came up, that person bought that coin whatever rank it was, of course ranks constantly changed but he looked it at only during at that time even if it changed later on. Dude made like x5 profit but of course this was during the altcoin boom so I can't really say it will work nowadays.

Just to give an example, if dude did the same exact thing during 2018, he would have lost over 80% probably, which means that people who do stuff like that can make a profit during bull market no matter what since all coins go up, but they will lose like hell on a bear market because all coins drop. It is not about picking the right coin, it is about picking the right time.

[Oilacris]

This was done before with the random number generator given to a random number generator website and given the number of 1000, so whenever a number came up, that person bought that coin whatever rank it was, of course ranks constantly changed but he looked it at only during at that time even if it changed later on. Dude made like x5 profit but of course this was during the altcoin boom so I can't really say it will work nowadays.

Just to give an example, if dude did the same exact thing during 2018, he would have lost over 80% probably, which means that people who do stuff like that can make a profit during bull market no matter what since all coins go up, but they will lose like hell on a bear market because all coins drop. It is not about picking the right coin, it is about picking the right time.

Agree!

This kind of experiment would indeed only work on bull market same as you said but not on a bear one.You did really divide the risk yet youve been selecting those random alts
but when majority of them will go to the opposite side then for sure it would wipe out your entire capital or which would leave you hanging or pending yet you would need to wait
again for price increase for breaking it even or else you would end up on cutting losses.Its a matter of trial and error just make it sure that you do able to get out before
situation gets worst or even on taking profit time.

[TrevorS]

Probably better to create bots to earn from the fluctuating price of established cryptocurrencies. This is safer and can earn you consistent profits. You just need to properly set the bot to buy important dips and sell bit by bit as price recovers. You could just leave some amount of coin for long-term increase in price

To start, this kind of bot needs to be written, or found. No one in their right mind will sell cheaply these kinds of things.
Indeed, such bots can bring huge profits in automatic mode due to the complete shutdown of the human factor.
However, I have not yet met such products on the market that would have a long positive history of work and would also be cheap.

[GreatArkansas]

Probably better to create bots to earn from the fluctuating price of established cryptocurrencies. This is safer and can earn you consistent profits. You just need to properly set the bot to buy important dips and sell bit by bit as price recovers. You could just leave some amount of coin for long-term increase in price

It's kinds really risky. Using bot and set it on buying dips without any foundstion.
For me, not all in dips will go pump. Which dips are more risky to buy than selling it because if you say dip, it could probably near on horizontal support and could break that horizontal line and continue to go down.
It's not kinda easy though, as what TrevorS said above, bot also can be costy.

[Jating]

I still vividly remember 2017.

Like every week there are coins that its being pump, and it was like clock-work. But then again, we've already matured so I don't think if this strategy will work. Back then, I've seen coins in the top 10-20 like being pumped every week or so.

You can test it yourself, pick around that ball park top 10-50 and then see how your "experiment" goes.

[maydna]

In the bull market, any altcoin can pump anytime. It happens all the time. Look at recent pumps of BSV, HBAR, XVG etc. No matter what factors lie behind these pumps it happens.

I don't know which coin will be pumping next and I don't trust any trading advisors, gurus, twitter stars. So I came up with a simple solution that satisfies me for now, but I need some advice to improve it.

It will be round by round investments. Each round has own duration and profit goals. For now, I think about max 1 month and min 100% ROI. I wrote a script for choosing random coins (X) from the list of coins with mark cap >= 100m (Y). X is planned to be somewhere between 2 and 5 coins. I plan to distribute the budget evenly. The goal is to keep everything as simple as possible.

I appreciate any improvements and advice on my strategy.

I can suggest being careful to choose random coin as an experiment because you don't know which coins that can increase. But you have a good coin at the top 10-20 coin list as that coin has a big chance to grow. I agree that in the investment, we need to determine how long the duration to hold the coin while we can search the other coin for the next investment. You don't have to try to reach a minimum 100% ROI if the coin doesn't have a good movement at the market. But for the top 10-20, I think the coin will have good move so you can expect to make a profit from each coin.

If you want to wait for the pump coming, then you need to ready because the pump can happen anytime so you can place the order sell before the pump is coming. But perhaps, I suggest not waiting for the pump because that will be hard to depend on the pump itself. After all, we don't know how higher the pump will happen.