Random coin picks experiment

[joeperry]

This is risky and yet entertaining, I would love to see what will happen after a month of picking a random coin would you please leave us an update to your post so we are able to track down which coin, loss/profit, increase and decrease from time to time.

It's really entertaining to see someone doing an experiment like this even you though you know the risk of losing a big amount of investment by picking a random coin. I've done it before on binance buying some altcoins and holding it for at least a week and after a week I lost -28% of my total investment.

[Meowth05]

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.

Exactly. Choosing a random coins to place your investment seems fun besides, it is true that as bull run comes most of the coins will also pump. However, it would be too much risk simply because if you will take a look even if it pumps the volume would still not enough to handle those sells. Therefore, it is still much better if we will place our investment in top ranked coins which could give a high probability of getting a huge profit.

[hahay]

I think this is a great experiment because even I personally believe when the bull market is very likely that altcoins there will get their own pumps, so this experiment is not wrong because by doing experiments like this also at least we have had a brave decision and a strong mentality. I'm sure you will get a good return later and also, that is a long list that you have picked with a total of 70 altcoins but by only choosing altcoins that already have demand in the market I am sure it will work well for your investment experiments.

[xiver88]

The hardest thing about holding my position is mental dependence on price checking. I wish I could avoid that. 8 coins are always on my mind and I keep checking them the whole day. First thing when I wake up - I do checking. It's exhausting. I don't know why I keep doing it, but it's a kind of a bad habit now. I need to find way to forget about those coins and continue to live a normal life. Holding in bitcoin wasn't so energy-consuming though. How do you guys overcome such mental state? Any advice?

[sana54210]

I think this is a great experiment because even I personally believe when the bull market is very likely that altcoins there will get their own pumps, so this experiment is not wrong because by doing experiments like this also at least we have had a brave decision and a strong mentality. I'm sure you will get a good return later and also, that is a long list that you have picked with a total of 70 altcoins but by only choosing altcoins that already have demand in the market I am sure it will work well for your investment experiments.

We could invest in 20 coins at the same time by diversifying our capital into small parts of 5% each. This is the technique I use to get my hands on some of the potential coins but investing in more than 70 altcoins would need some major capital to start with so that we could start investing approximately 1.5% of our capital into 1 coin. This might give less profits among those 70 coins 20 might not even be affected due to the bull runs and rest 50 might give you profits.

But, it would be good to choose minimum coins to invest so that it becomes easier to manage your portfolio. You surely would not need a hectic work of speculating all those graphs and hence investing in minimum coin can make you focus on profits more closely.

[FanEagle]

Choosing a random coins to place your investment seems fun besides, it is true that as bull run comes most of the coins will also pump. However, it would be too much risk simply because if you will take a look even if it pumps the volume would still not enough to handle those sells. Therefore, it is still much better if we will place our investment in top ranked coins which could give a high probability of getting a huge profit.

We can think of huge profits only because of the nearly approaching bull runs but have you ever thought what would happen if the markets goes in opposite direction and instead of bull runs, we land up in bearish markets? This would be a major loss for OP then and OP might really need to wait for months or maybe even years to wait to sell those coins in profits. In this situation, OP can also buy some coins which move in opposite direction of some major coins. This might give him a security that at least those coins would experience a pump in a market situation where majority of the coins are experiencing dump.

[Ridwan Fauzi]

The hardest thing about holding my position is mental dependence on price checking. I wish I could avoid that. 8 coins are always on my mind and I keep checking them the whole day. First thing when I wake up - I do checking. It's exhausting. I don't know why I keep doing it, but it's a kind of a bad habit now. I need to find way to forget about those coins and continue to live a normal life. Holding in bitcoin wasn't so energy-consuming though. How do you guys overcome such mental state? Any advice?

I felt such these thing when I was newbie, yeah it was very torment. I my whole day I spent to watch the moving market price of the coin and I was happy when its price was increasing but I never did to sold it because I was greedy, hoping the price is up more then that. And when its price was decreasing I felt bad and I blame myself because I didn't sell it.

Maybe it just because I use money that I can't afford to lose. At that time I tried to loan money to my friend and all of the money I store it on Ripple. But right now I'm aware of it, I never have any decision to loan moneg anymore to buy some coins. I only use money that I can afford to lose and hold some coins for long term investment or depend on the market situation.

[mbakruroh]

The goal is to keep everything as simple as possible.

Picks random coin is not good plan, maybe you'll say more simple than I must doing research just take it and leave. But depend your post it just experiment, really brave person. No more debate you want get experience I'll let you go but for me, take several popular coin for experiment is more profitable because already have volume and reputation.

[South Park]

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.

It is interesting but I do not think it is a worthwhile strategy, if you want to find some coins that could possibly pump you have no option but to learn more about cryptocurrencies and then read all the white papers you can find and then use fundamental analysis to try to determine if the coin you are studying is undervalued, once all of this factors are in play you could make a small investment in that coin and then wait some months or even a year for the coin to pump, I know this will take time but I do not think there is any other way to make this a success.

[MWesterweele]

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.

It is interesting but I do not think it is a worthwhile strategy, if you want to find some coins that could possibly pump you have no option but to learn more about cryptocurrencies and then read all the white papers you can find and then use fundamental analysis to try to determine if the coin you are studying is undervalued, once all of this factors are in play you could make a small investment in that coin and then wait some months or even a year for the coin to pump, I know this will take time but I do not think there is any other way to make this a success.

For me its a way to know if the coin you pick is worth it but I think its wasting of money, ts better to pick a popular coin than random coin because in the end popular coin can give you profit while random coin you can't sure if possible to rise. But still its depend up on you if you want to know some random coin can possible to pump or stick to those popular coins.

[electronicash]

if you notice the market today, almost everything is red. its going to be a hostile environment for an experiment like yours specially because you expect the 100% return in a month. its not that simple when all of a sudden the market suddenly the altcoins decides they are overbought. a month of holding a random coin might not be enough for it to bounce back. buying and selling at the right time is a strategy already.

[matchi2011]

The goal is to keep everything as simple as possible.

Picks random coin is not good plan, maybe you'll say more simple than I must doing research just take it and leave. But depend your post it just experiment, really brave person. No more debate you want get experience I'll let you go but for me, take several popular coin for experiment is more profitable because already have volume and reputation.

If you are interested to see more chances of success then buying known projects are much better. But likewise, it's an experiment and no one can assured that it will not success there's no security from each projects that being offered from this industry. Both luck and your willingness to take the risk can bring you good benefits.

[xiver88]

Decided to take profit on ALGO. Sold with 30% profit. It was one of two coins which was picked twice. So first one gone.

[Mumbeeptind1963]

Decided to take profit on ALGO. Sold with 30% profit. It was one of two coins which was picked twice. So first one gone.

Before you pick some random coin you shoild know if the market is not dumping because if not your experiment become worthless and if you want to succeed your experiment then pick coin that have value or can give you profit. Dont waste your time to picks some random coin because your effort become useless and at the same time wasting of money once you get a coin from rsndom pick then in the end its no value.

[xiver88]

Closed another position - AION. Took a 40% profit. All my coins are in pair with BTC, not USDT

[South Park]

For me its a way to know if the coin you pick is worth it but I think its wasting of money, ts better to pick a popular coin than random coin because in the end popular coin can give you profit while random coin you can't sure if possible to rise. But still its depend up on you if you want to know some random coin can possible to pump or stick to those popular coins.

It is not a waste of money, it is obvious that investing in the most popular coins is safer but the profits you can get from new projects are superior since it is way easier for those coins to pump, the key is how you select those coins, I have no problem admitting I do not really have the talent to do that and as such I stay away from that and like you suggest I only invest in the most popular coins but it will be a mistake to not admit there is the possibility to make a lot of money with those coins if you have the ability to select the right one.

[ScamViruS]

Random coins don't seem like a good idea. There is a high risk here. In my opinion the top coins are good. Because the top coins can give you profit. I have been face big loss in the past by buying random coins. Then I realized what I had done wrong. So you should not waste time and money experimenting with random coins. If you think your experiment will produce good results in the future, then go ahead.

[Kelvinid]

And it sounds like it won't work for us.
I'm a risk-taker but I'm not a kind of that person who takes risk without having any assurance of returns. That kind of experiment will closely be putting to our ends and just losing our funds. If we only have a random choice of coins among the top 10 coins in the market maybe it will work but if we considering picking up among the listed altcoins in the market...I'm out from that.

This kind of investment couldn't be in a great deal if we only just having an experiment. It could be of some excuse if you have already a lot of money in which you not afraid of losing it but for me (us) that have of limited resources, we must have to play it safe.

[Quidat]

Random coins don't seem like a good idea. There is a high risk here. In my opinion the top coins are good. Because the top coins can give you profit. I have been face big loss in the past by buying random coins. Then I realized what I had done wrong. So you should not waste time and money experimenting with random coins. If you think your experiment will produce good results in the future, then go ahead.

It will just depend on risk management and if he can able to gamble up then its his choice yet its his own money btw and experimenting something will really give out results which we might
anticipate or not. Results would be known in the end of the road and if you do realize that you arent profiting or losing money then thats the time we would completely stop and find for another
experiment thing.All things is just having that trial and error because we wont know if it would work or not if we dont try it.I dont see anything wrong with this one though yet
its our money after all.

[Quidat]

The random choice of coins for trading for me personally is directly related to my first period of studying trading and the beginning of trading activity in the cryptocurrency market.  The fact is that most of the coins I earned with the help of an air drop and the Bounty companies and in order not to sell all these coins, I decided to use them for trading in order to earn as much as possible and get a good starting capital for further activities.  That is why I had a large set of different coins that did not even have a very good rating.

Coins that are being gained through airdrop or bounty would really have that advantage yet you havent thrown up some cash to buy it out but the question is, those coins
do have market value for you to trade on? Only a few would able to make it to be listed on an exchange so it do talks about case to case basis.

No matter what coin you've been dealing with even if its being selected randomly then be sure to accept the risk on losing money yet we know the differences if we do deal
up with coins which are on top rankings.We do foresee the profiting probability yet even a simple investor or trader will able to spot it out.