Trading on Mintpal Help?

[SteveHansen]

So for the past day, I have been interested in Cryptocurrency

What I did so far, got BTC and waiting for it to deposit into Mintpal for trading. What I don't understand are the boxes for buying/selling Altcoins? Which box do I fill in "Amount" or Price per XC"? Can some someone explain to me the whole logic? I just mainly know is Buy cheap and sell high. Sorry if this has been asked already, had trouble finding a tutorial for Mintpal and trading etc.

[blakely]

I'm not sure what you are asking, but as a newbie I want to caution you. XC just had a massive 100x+ pump over the last several days. It's way past the top, the anon function is extremely iffy and this coin is in the hands of whales who want nothing more than your bitcoin.
You've been warned, I'd look for new coins with potential if I were you.

[SteveHansen]

I'm not sure what you are asking, but as a newbie I want to caution you. XC just had a massive 100x+ pump over the last several days. It's way past the top, the anon function is extremely iffy and this coin is in the hands of whales who want nothing more than your bitcoin.
You've been warned, I'd look for new coins with potential if I were you.

On the Trading Screen for each Altcoin, There is



Buy [insert name of coin] and Sell [Insert Name of Coin]

Amount
Price Per BTC
Total
Trading Fee
Net Total

So, when I get my BTC to Mintpal, I buy a certain Altcoin. But how do I know if the price is higher later on by looking at the Sell Altcoin. I am basically just confused on the whole Logic aspect of this.

Whales are just people who own a large percentage of the Altcoins?
So, I should look always look for Altcoins that are on the lower percentage side?

[blakely]

Look, this was an epic pump and dump. Whales are people who have lots of btc from shitting on others in past pump and dumps. They pushed the price up to a frenzy then dumped their stacks onto the masses. Basically, a few rich people got richer at the expense of everyone buying higher than 300k - which was a lot if you look at volume. It is extremely unlikely this coin will see 500k again if ever, as you have a lot of butt hurt potential buyers out of the mix. Why would whales drive it up without minnows buying? all they want is more btc so they can cash it out so they can buy bigger boats and vacation homes. Get the picture?
If you click on the highest sell price it will populate in your buy window - the amt selling is how much you can buy at that price at that time. If you want you can enter your own buy price and it will fit in with all the other buyer's prices. If you buy any substantial amount of any coin on Mint, there is a real good chance the price will immediately tank. This is because whale bts are shifting coins back and forth making it look like real people are trading, and they are looking for a sucker. By immediately sinking the price they want you to feel this was a mistake and sell it back, at which point the price will slowly start to go back up. This is the ludicrous game that is played around here, don't fall for it. If you must buy an older coin on Mintpal, wait for a pump and try to jump in on the way up - play small at first. Frankly, your odds of making money around here at this moment of butt hurt are better at the casino.

[SteveHansen]

Look, this was an epic pump and dump. Whales are people who have lots of btc from shitting on others in past pump and dumps. They pushed the price up to a frenzy then dumped their stacks onto the masses. Basically, a few rich people got richer at the expense of everyone buying higher than 300k - which was a lot if you look at volume. It is extremely unlikely this coin will see 500k again if ever, as you have a lot of butt hurt potential buyers out of the mix. Why would whales drive it up without minnows buying? all they want is more btc so they can cash it out so they can buy bigger boats and vacation homes. Get the picture?
If you click on the highest sell price it will populate in your buy window - the amt selling is how much you can buy at that price at that time. If you want you can enter your own buy price and it will fit in with all the other buyer's prices. If you buy any substantial amount of any coin on Mint, there is a real good chance the price will immediately tank. This is because whale bts are shifting coins back and forth making it look like real people are trading, and they are looking for a sucker. By immediately sinking the price they want you to feel this was a mistake and sell it back, at which point the price will slowly start to go back up. This is the ludicrous game that is played around here, don't fall for it. If you must buy an older coin on Mintpal, wait for a pump and try to jump in on the way up - play small at first. Frankly, your odds of making money around here at this moment of butt hurt are better at the casino.

Well......Shit. I heard of Day-trading. Is that any good?

[blakely]

Day trading is very difficult. You will be betting against experienced people with all the coins and a lot more btc than you. It's a bit like poker, and you have a weak hand brother. It's like carnival games you can't win. Now, when coins are bullish and you have a clue you can do well. Last month was awesome for making money, you had all these anonymous scam coins that kept pumping, but right now the scene is pretty dead. Wait for the next craze, that's what I'm doing.

[tokyoghetto]

If you want an alternative to chasing pump and dump scam coins, please check out my HBN Investment Journal. Its a long-term investment style that generates steady profits. It does require a bit of work but its less stressful than day-trading scamcoins against people smarter than you. Link Below.

https://bitcointalk.org/index.php?topic=406112.0

[SteveHansen]

I think I just need practice on making Buy and Sell Orders and getting a feel.

[SteveHansen]

Can someone explain to me the terms: volume, market cap, and % change and how it helps me pick a coin?

For example,
Should I invest in an altcoin with high or low volume?
Should I invest if there is a high % change vs low % change?
Should I only buy coins when the chart graph is currently green vs. red?

[commandrix]

Volume is the amount of BTC that has been involved in trades over the previous day or so. I would guess that "market cap" has to do with either the amount of altcoins that are actually in the Mintpal system, or the maximum amount of available altcoins. % Change is the amount that a particular altcoin's value has gone up or down on a particular day.

1) I'd invest in an altcoin that has a pretty good daily trading volume. Otherwise you can wait forever for anything to happen with your altcoin.
2) I'd go for the ones that have taken a really bad tank lately. That's if that wasn't preceded by a surge in value the previous day. So definitely pay attention to the day-to-day change.
3) Buy low, sell high usually works if your intention is to make a profit.

[freebitcoins4u]

exchanges are full of newbies who are losing their money and few whales that get rich.

[DeboraMeeks]

exchanges are full of newbies who are losing their money and few whales that get rich.

That is so true, small time investors get chewed up and spat out just like on wall street, the only winners are big time investors who have tons of BTC to spare