It can be extremely profitable. There is a tendency for people to wait out of greed and see how high a pump goes, but in my experience that usually doesn't end well.
Lack of order book depth usually cuts both ways. Consider doing this on both sides of the book. On the buy side, we call them "stink bids."
![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif)
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You don't want to be stuck holding fiat during a bubble!
Well this past week, if I had something set up I likely would have made at least one buy. I did however get something done manually before everything tanked off for a bit there. My first buy was at 3X so I took out my investment, and on the drop used that to DCA a different coin, almost caught it's low.
Apart from that I'm going to be funneling some FIAT in for more BTC, and play it by ear for the next month or so.
OP, you can try indexing with this index builder,
https://pandaanalytics.com/indexIt can help you allocate how much of each cryptocurrency to own in your portfolio, and can guide you to resize each allocation based on profitability and volatility.
Hmm looks neat. I might check it out if I keep up with trading into the future. Most of my coins are of the potential "bag holder" variety. I'll either win or lose but they may become something that builds up more of a trading market in the future.
Doing this manually is hard to be honest.
OP can develop his own bots to track markets. It is not that tough and AFAIK, he has knowledge on coding.
Nope. Tried to learn coding in my spare time but couldn't find a resource that I was a good fit for me. Still interests me and might be something I dabble with again in the future.
Leverage and Spot are two different ballgames. If OP is new to trading I would suggest them Spot obviously and to stick to Spot later on because I feel it is the more safer of the two. Leverage and Margin just adds in more mental stress, which is important to minimize if you want to start healthy in this game.
Stick to bitcoins would be my advice. Time and again we have seen it prove it resilience in the same and if bought at good lows it can give good returns.
I did look into the leverage and margin side of things and decided it just wasn't for me. This is going to be a rather passive and lazy adventure for me. There are certainly markets out there I could have given it a go in, but I'm not looking to examine charts daily or hourly. Just a guy looking to grab bags and attempt to make profits
Had a good laugh this past week. I do generally tell people if I'm buying something wait a few days it will get cheaper. Most are on the mend, and are back to nearly my entry point.
![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
I'm also definitely not getting out of BTC, just expanding my portfolio a bit.