Random coin picks experiment

[mu_enrico]

I've seen many of this experiment in the stock market, and it often outperforms managed funds (lol). However, in the crypto market you should define the pool more carefully since 100m+ market cap might not be sufficient. I mean random picks in stock market arguably safer because all stocks listed on the same exchange and have passed proper due diligence.

Perhaps you should add a few more criteria:
- listed on x primary global market;
- not a stablecoin (obviously); and
- x daily trading volume.

[xiver88]

Wow! I start to love this forum. So many quality answers I didn't expect. I appreciate your knowledge and experience. I know this strategy sounds dumb and risky, but my goal is to keep it simple and not time-consuming. All the coins are down from their ATH around 90% and maybe it's time to recover. Graphs show bull patterns, the market is ready for newbies to enter, institutions already in position and whales are ready to collect profits, halving is near. 2020 is a good year to pump this market. So according to this, I was thinking of how to profit without hassle. And the simplest way is to guess but set some rules. I hope it it will work

[ikicha]

LOL.

This action was a stupid action for me, the risk more than a gamble risk. You should know more than 90-95% a cryptocurrency who got listed at coinmarketcap its shitcoin, based on that your chance was not good. Most of the picker from the script will choice a shitcoin, also marketcap can be manipulation by exchange bot.

[Yamifoud]

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?

All of them are in the market for many years and showing an impressive market performance last Bullrun. Choosing them randomly still be working good knowing the fact that most of them are rallying still then until today. This may work only during bullish but it could be hard when you are dealing with serious market trade cause for sure many will choose on the top cryptos rather than risking into the bottom one.

[barbara44]

LOL.

This action was a stupid action for me, the risk more than a gamble risk. You should know more than 90-95% a cryptocurrency who got listed at coinmarketcap its shitcoin, based on that your chance was not good. Most of the picker from the script will choice a shitcoin, also marketcap can be manipulation by exchange bot.

Yes, because there are more and more exchanges too and even small exchanges are heavily listing coins just by taking some listing fees. I think this idea of buying all coins might work if you are trading on a reputed exchange like poloniex or binance because as per my estimation they will never add any coin just by taking some money, they might take money but they also do their due diligence.

Let us suppose every 1 coin out of 20 pumps hard and gets to 10 times it's value, now you have to agree that this will result is little or no profits because the other 19 coins are most probably going to be dust very soon. yes if you make some research and buy coins then it might be well worth it!

[wozzek23]

Wow! I start to love this forum.

Most welcome, you will have a lot to learn about here but please be very cautious when you enter the marketplace area.

So many quality answers I didn't expect. I appreciate your knowledge and experience. I know this strategy sounds dumb and risky, but my goal is to keep it simple and not time-consuming.

I understand that but you need to know that the altcoin market is not as liquid and solid as it used to be like an year ago or two. You might want to visit the altcoin announcement section and you will see how many new coins are coming to the scene every day.

Here you go - https://bitcointalk.org/index.php?board=159.0

according to this, I was thinking of how to profit without hassle. And the simplest way is to guess but set some rules. I hope it it will work

Best of luck with that but please do little home work before you buy any altcoins.

[Oceat]

It's a waste of time and money if you think your experiment would come and handy in the future, then you must not continue to do it. Try another strategy because I'm sure what you have been trying to do has been done already with other people. Don't make the same mistake not unless if you really want to know what will be going to happen to your experiment in the long run.

[Janation]

And yes, I will invest only what I can afford to lose. That's rule #1 for me because crypto is unpredictable.

You should also consider putting your money into popular coins.

I know this is normal but there are some investors that go with newer coins since the chance of getting a high profit is there. Also, it might counter your real objective of picking random investments but still, just to be on the safe side with your capital. Maybe you could pick randomly on these popular or common coins like Bitcoin, Ethereum, XRP, BCH or BSV.

[Question123]

Bull run have effect on the different coins because they have altcoins even not potential are risinv the value or not in the rank 50 or up.
Usually I invested some of the coins who are not popular and the price is very low like cents only because if it turn into high price my money will grow very high and Im going to become a millionaire.

Picking a coin needs a good research and discovering the potential because you can know if your money will possible to grow .

During bull run only potential coin increase the value but they still random coins are increasing too.

[SquallLeonhart]

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.

What? For entertainment and curiosity purposes? Am I into gambling board or trading board? This is first time that I am coming across an experiment on trading just for entertainment purposes. Unlike your suggestion, I guess OP sounds like more serious on his "experiments".

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.

In simple words, you are about to invest into 2 to 5 altcoins from coinmarketcap listing with 100M marketcap. But, now sure how you are going to achieve 100% ROI within a month. Instead of writing a script to choose coins randomly, write a script to identify a coin which got potential to be bumped in near future.

The goal is to keep everything as simple as possible.

With random coins, I am afraid you cannot keep things simple. Either you may be enforced to wait for infinite periods or you may need to book losses within a month.

[nicolas1979]

I don't know which coin will be pumping next and I don't trust any trading advisors, gurus, twitter stars.

This sentences will make many people disagree with your method but I must say you are brave person. Most of us doing research before pick some coin because everything need basic reason, about profit or not that's relative. As new crypto user I suggest you try to pick any coin but must see history chart, learn it to get better profit in the future. The method is simple and not wasting time, see track record and take it. Another advice is don't use all money just half is enough to test your experiment.

[xiver88]

I’m not new to crypto and trading. I know charts for the last 3 years very well and remember 2017 pump when nobody could predict such insane growth. Every Altcoin was popping x100 accidentally, just because of euphoria. Now it won’t repeat I guess, but x2 is very real. Even if I do thorough analysis of some coins, some of you will say it’s bullshit, some will support. And both sides will be right, because opinions are different and every single coin can go either side. So I don’t see the point of spending time to do thorough analysis of 40 coins. Instead I predict rise of the market overall and choose randomly among top coins. Hope I’m lucky

[fullhdpixel]

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?

All of them are in the market for many years and showing an impressive market performance last Bullrun. Choosing them randomly still be working good knowing the fact that most of them are rallying still then until today. This may work only during bullish but it could be hard when you are dealing with serious market trade cause for sure many will choose on the top cryptos rather than risking into the bottom one.

Yes this strategy might work if you are an active trader and knows when to buy and when to sell a coin, it has been often case with me that I struggle to find the best time to sell a coin because I see it's going up so I feel like it's gonna pay 200-300 times dividends if I can wait and then as it's price starts dropping I feel like once it will reach it's past maximum I will sell it.

So, if you are someone who knows who to sell and and when to buy alts then the strategy will be worth it to buy some random coins and keep a sharp eye on them as they get pumped.

[ethereumhunter]

I don't know which coin will be pumping next and I don't trust any trading advisors, gurus, twitter stars.

This sentences will make many people disagree with your method but I must say you are brave person. Most of us doing research before pick some coin because everything need basic reason, about profit or not that's relative. As new crypto user I suggest you try to pick any coin but must see history chart, learn it to get better profit in the future. The method is simple and not wasting time, see track record and take it. Another advice is don't use all money just half is enough to test your experiment.

We all don't know which coin will be pumping, and only with research to find the coin that we can do. We can get more signs for the coin that will increase, but we still don't know accurately, which is the coin. I think he can pick one or two coins at the top 20 coin list to research and find more significant to know the coin that can increase. It is not recommended to choose a random coin as an experiment because you will not find a good coin that can grow, and you will get the wrong coin.

[nreal]

I think this is a bad idea, it will work well if we have a booming market like 2017, when you choose any currency will be profitable,
But the situation is not like that

[bearexin]

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.

That was almost true a few years back when the altcoin market was new as each and every coin that gets into the exchanges those days was almost certain of getting pumped at least once because the owners had to cash their money. But, the market is so crowded that this technique of buying small amount of large number of coins does not work anymore.

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.

Any guru and so called market analyst are scammers as long as they ask money for their predictions because there is no genuine trader who would share his market knowledge for a few bucks.

[FanEagle]

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.

It is not actually necessary to hold coins for long term to earn 100% ROI but if OP finds some better strategies and ways of trading like margin trading or future trading than I am sure that it might even be possible for OP to earn 100% ROI in just 10 to 15 days.

Cryptocurrencies have a highly volatile markets which makes the prices go much up and down much quickly which opens doors to make profits instantly. This is what makes OP feel like he could earn a better ROI by investing into some major coins which are likely to experience a pump from the bullish signs. If OP is investing in only 1 or 2 coins and expecting 100% ROI in a month than it might not be what would exactly take place. OP would need to diversify investments into several coins which might be in the dip so that the pump can make OP fill profits quickly.

[darewaller]

Recent bull runs are actually the reason behind the pump of the coins you mentioned above. These coins might experience some more pump in the coming times as we have not yet ended with the bull runs as this is the start itself. There would be huge price pump for a number of coins in the coming times and I really liked your strategy. You might buy some really potential coins before the bull runs start and you would gain more than 100% ROI in a month if the price started to grow back again.

A small dip might be expected as the markets have started moving in opposite direction which would give you the chance to fill your bags with the coins you would like to invest and then watch your money growing from the bullish trend.

[xiver88]

I ended up adding 30 more coins to my initial list, total coins 70. Also, I decided to pick 10 random coins among those 70. Yesterday I entered the position. Surprisingly 2 coins were chosen twice, so I have 8 altcoins: ALGO, NEO, DGD, VET, BAT, XZC, LEND, AION. The game is on, waiting for pumps.

[davinchi]

I ended up adding 30 more coins to my initial list, total coins 70. Also, I decided to pick 10 random coins among those 70. Yesterday I entered the position. Surprisingly 2 coins were chosen twice, so I have 8 altcoins: ALGO, NEO, DGD, VET, BAT, XZC, LEND, AION. The game is on, waiting for pumps.

I am afraid that you may wait infinitely with some of the coins. Honestly I never come across most of these coins ever at the same time I am not an expert in altcoin trading but I do watch them since 2014. But, I am curious to see your results because it is about random thing which means I may also try like this as there would be no need of intensive knowledge on altcoins is needed.

Why not you start another experiment for reputed coins? I mean for active short term trading. It seems people are too eager to try leverage trading on bitmex kind of platform and if you show some good tips on where to enter and where to exit then that would be more helpful for them.