Lets start Crypto trading strategy thread

>>2062428
I need more rules.

Lost out on a 5btc gain with ark
And 8btc with posw.

When should I sell?

When should I hold?

With ark I sold too early and with posw I held too long.

I'm dumb basically.

My strategy is to catch a good wave and then get get sucked under selling too late.

Then I lose more money chasing the next wave.

Don't panic!

>>2062575
That's exactly my trading style before I implement rule 1 & 2.

>>2062551
Well, if you follow rule number one, you would have stop loss and that 5 and 8 btc loss will not happen on the first place.

The goal is actually not making money, the real goal of crypto trading is to not losing money.

See the bigger picture, the whole market is still have plenty of rooms to grow.

But if you already down so much BTC value on ARK and POSW, I recommend just to hold indefinitely, at least until it's break even.

My strategy has been to just buy and hold bitcoin long term (until at least 2020). So far it has been working quite well but it does require a lot of patience and trust, especially when there is a dip.

>>2062626
Good strategy to be honest, better than doing day trading without any strategy.

Lot's of people said they regret not to buy bitcoin when it's $1, but I can guarantee you that same people, even when they did buy at $1, will sell it when BTC reach $2.
No freaking way they will hold until $100, $500, $1000.

You did good if you manage to be consistent until 2020, you'll laugh at people saying they wish they bought BTC when it's $1800

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what should I do with my $10k?

I was thinking about putting most of it in ETH, some into BTC and just hodling. But I think I'll only make the big bucks if I invest in pump and dump shitcoin scams.

What strategies do you use when selecting which shitcoins to buy? Also, any chance that BTC & ETH will dip this week?

>>2062655
>make the big bucks if I invest in pump and dump shitcoin scams.

Unless you can beat your greed, you won't make much participating in P&D coin.

I'll put some on $XEM for long term.

https://www.nem.io/catapultwhitepaper.pdf

Once they succesfully implementing catapult on their blockchain, NEM will be the fastest cryptocurrency in the world. Assuming other coin haven't implementing lightning network by the time they release catapult.

But I wouldn't be too worry about LN, LTC make it seems like LN is easy and can be implemented out of the box, well they are wrong. LN on current LTC chain will suffer from the same limitations as any other LN implementation on top of a utxo instead of an account model.

>>2062622
I've actually normally been burned by SLs. I could see setting them short. The problem is I've set them deep enough that "These won't hit! derp". Then xcoin value jackknifes 12 bucks to empty my account.

My recent burn was going hard ltc and not expecting the dump 2 hours before segwit.

Before that I tried arbitrage and found out chink exchanges won't transfer any useful coin. So those gains were lost.

If there's a good spread again, I may try flushing funds through accounts.

>>2062428

Rule 1 is pretty retarded. I mean sure always assume you're wrong but stop loss? Fuck no did you see what happened to Kraken? It's like Cramer's #1 rule to not use stop losses

Crypto always goes up as long as it is listed on Polo. That should be the number 1 rule

>>2062884
>Spoken like a true newbie

OK

>>2062714
No exchange guarantee a stop loss can be executed 100% of the time, it's just not possible, but at least you have insurance when things go against your favor.

If it doesn't work, then that's part of the risk of doing trading on an exchange. If it happened, you can either wait until the price goes up again or eat your loss.

has anyone here used coindata.io or turtlebc?

>>2062428
someone just posted a thread about reddcoin taking off. i think we should all get on that rocket before it takes off

>>2062428
You're rules 1&2 sound an awful lot like a repackaged version of "Buy high, sell low"

>>2062428
>What strategy / rule did you use when you are trading crypto?

Very simple:
Buy tens of thousands of cheap shitcoins first
Shill on /biz that its going to the moon
/biz buys in, and I cash out

Makes money like clockwork. Many such cases!

>>2062884
Wtf who unironically listens to Cramer?

only thing you need to do is learn how to use fibs and other tools and ignore biz

too many shills and shitposters

>>2062622
Thanks for the tips.

I broke out with small profits on ark and posw but the potential was much much higher.

How can I determine when to sell/hold.

I know you mentioned that the goal is to not lose money but how do you figure out if the profit that you would be taking wouldn't be exponentially higher?

If a shit coin starts going nuts on biz and you haven't acquired yet you're probably getting in too late.

>>2062999
Of course, basic chart analysis knowledge is a must.

when you shill their opinions on /biz/, do you genuinely believe it impacts the market in any tangible way?

>>2063122
what works and what doesn't?

Ichimoku cloud? How do you know when to use fib levels?

>>2063183
Yes. Hate /biz/ all you want, but some of them are actually own pretty decent amount of money. Literal meme coin like bitbean could shoot >100% purely because of /biz/ shill.

>>2063211
Nothing works 100%, so I'm not gonna answer that kind of question.

But yeah, ichimoku does quite well for me personally.

>>2062884
Stop losses are god tier if you use them correctly. With simple stop losses I made 80% gains trading oil in 2015 when it was recovering and bouncing around.

You need to realize that with stop losses, you cannot overtrade. In a probability sense, stop losses will destroy you, but when the market is in a position to move one way or the other, and there is low volatility before said event, stop losses can protect your losses while giving you an opportunity to make massive gains.

Some of my biggest gains were made during Yellen's speeches, because my downside was protected w/ stop losses.

>>2062428
To be honest I'm only daytrading because I'm not a patient man.
My strategy: FOMO but I'm really fast and go for small gains 2-5%
If the FOMO is real I let it run to ~10% but then I take profit.
Even if it does a 30%+ or more I don't feel bad because I stayed with my plan.
I sell if I was wrong around -5-8%.

>>2063651
This is honestly a better strategy than pump chasing.

If you can CONSISTENTLY make just 10% a week 1 BTC turns into 100 BTC in less than a year.

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>>2063667
Consistency is a rare thing in trading world. I'd say 98% of trader loss their trade due to greed and Impatient, myself included.

Also, pic related is one of my favorite in terms of trading advice. I use it as my background to remind myself the importance of staying true with your rule/strategy.

>>2063566
do you have any reason/resource/evidence of some kind to support that belief? I'm genuinely curious
which altcoins are generally held by anons?

My main goal is to acquire BTC/ETH for the long hold. Day trading is pretty risky and I don't have much money to do it with anyways so my gains would be minimal. For now I bought into a few altcoins with, I think, big potential. I am planning to hold those for a while, hopefully see decent gains, and then pull out for BTC/ETH. Thoughts? Or is daytrading an all around better option?

>>2063709
Consistency is my main focus. My profit chart for this months looks almost like a steady straight line upward, roughly the same percentage gains day in day out.

>>2063776
how much capital are you working with?

>>2063667
Pulled another 10% on the NAV segwit hype. But I thought for a minute that it's already priced in so just put half of my trading balance into it so it's more like a 5%.

>>2063709
Love that pic, just saw it yesterday and it's so true. That's why I'm always happy when I can stick with my strategy even if I made a loss.

>>2062655
check out digibyte

>>2062428
Putting stop losses on crypto is the most retarded thing I've ever heard of you buffoon. It's literally the best way to guarantee you buy high and sell low. The cryptomarket is unbelievably volatile right now, you will see massive fluctuations in both direction. Even if your most mega shit coin crashes to basically zero, the entire trend of crypto value is spiking upwards and there is a great chance the coin you didn't put a stop loss on will grow again in the future.

DON'T play crypto if you can't afford to lose all your money. Only play if you have money to INVEST, and putting stop losses on investments that wildly spike up or down hundreds of percents is fucking retarded. Fuck you for being so dumb and having the audacity to spread around your retardation.

>>2064334
Myriad

>>2063760
No I don't, but you can view get shilled the most on /biz/ by opening this page :

http://nocoiners.com

LOL

>>2063763
That's good if you can stay true to your strategy. At the end of the day consistency is the key.

>>2064361
Thanks for the opinion. Very constructive.

>>2062428

Rule 1: Never buy an ATH. Ever. If you weren't on it to begin with, unlucky. Wait for the retrace.

Rule 2: Have a plan and stick to it. If you want 10%, take your 10% and be happy with it. There will always be other opportunities. Forget about "what could have been". That's a 10/10 way to lose profit.

Rule 3: NEVER leverage a short position. Never short a coin on the up. In fact, just avoid shorting in general. It's more satisfying being long cheering gains than wishing doom on something. It's also a lot safer.

Rule 4: Don't over-leverage. Treat leverage as a small boost, like 20-40% to your long position than a "get rich quick", 100% leverage scheme. Leave a big buffer in your margin account and you don't have to be a sad fuck who got liquidated during an attack because his stop loss didn't trigger in time.

Rule 5: Be patient! You're not going to have a 100% success rate. Sometimes you may have to eat a small loss. It's better to take a lick and move on than spend days and nights sweating a bad trade.

These are my non-negotiable rules that I had to learn the hard way. It paid off in the end. Patients is the key.

>>2065069

Good points.

Rule 2 is the worst tho.. Im making consistent 10-20% trades, but the fact is that there are times when holding on for a week or two would have got me beyond 200%.

Hindsight is just a thing you have to learn to cope with. Concentrating on the results that you could have had is useless!!

>>2065069
>Forget about "what could have been". That's a 10/10 way to lose profit.
100% agree with this, during my early trading days I really hate myself for selling too early, but then I realize a profit is still profit no matter how small they are. Be happy with it. There are 600+ coin right now, plenty of other opportunities to make money.

>>2065115
ideally speaking you should be able to see when you can get more than 20% and incorporate it into your plan

always stick to the plan though, just get better at making plans

>>2065115
how do you choose specifically what crypto tp buy? very interested thanks for help

>>2062428
I came in wayyyyy too late when I have become poor. Back in 2012 I didn't care about anything and just spent my riches without having a comeback. Right now, I only eat the Asian way; just rice with onion, garlic, pepper, and salt. The money I earn all go to crypto. At least I still eat three times a day.

>>2065333
>Just rice

my God man add at couple eggs at least

>>2065115
Why not just sell 97% of your holdings each trade? The remaining 3% will allay your FOMO while allowing you to diversify your portfolio. You could even put a stop loss on the remaining 3% at -5% or something. (2.85% + 10-20% profit of our 95% is still a really respectable return).

>>2063651
This. So far I'm doing good.

>>2065381
>couple eggs
I can't afford it; too expensive. I only buy a dozen eggs per two months. Eggs are for rich people like you.

>>2065450
Man... I feel sorry for you bro, hope everything's ok in the future.

Anyone use the ICO hopping strategy? I just realised I don't have a clear plan and got burnt recently on my shit trades. I do like the 'gain 10%' method, but I've noticed that you can predict hype on ICOs pretty easily and if you get on slack, you can get a notification when they have their first exchange listing (usually liquid.io, then bittrex). I think aiming for a 20% profit target is somewhat reasonable with this method, and you have sale-primer notification

>put $150 wagecuckbucks into crpto every two weeks.
>Divide between 2-4 coins I believe will do well, set stop losses for -5%
>Sell at 10-15% gains, no exception, no moon mission chasing.
>Never buy an all time high
>Sell everything and don't touch shit while Bitcoin reigns as king, let all alts fall.
>Buy back into my positions when BTC cools off.

Made a little under $30k in the past year and a half with this strategy, currently have 22btc worth between 15 alts.

>>2065690
Many people hate ICO and call every ICO scam.

What they don't realize is, 99% people who join ICO wasn't there because they support the ideas behind whatever ICO they created. 99% people just want to cash in once the coin hit exchange.

Look at RLC, the exchange price is 2x the ICO price.

Look at humaniq, I think its 3x ICO price when it hit bittrex.

Granted, you need to be sure you are there when they list ICO coin on exchange, because that 99% will just sell it rightaway.

Also, I remember buying 1800 LISK from ICO and some dumbfuck from bitcointalk buy that shit for 4.5 BTC lol.

But I also remember RISE ICO fiasco, lost money on that one.

>>2062428
I never read the book but I can say from experience selling is the hardest part of the trade. So while you might be right on more trades then not you wont know when to sell. So the trade that was good goes bad a few times more than not. A simple trailing stop loss will prevent this at least from forcing you to sell. And yes doubling down when it turns out you are with the trend doesn't hurt as long as you do keep a stop somewhere near. I like to use parabolic sar. Figuring out how, is for oneself.

>>2065835
that's some mafia launder money type shit there.

When should I buy BTC? I don't want to do it now.

>>2065718
Does polo have stop losses? I dont think bittrex does for the smaller alt coins.

>>2066095
Yes, they do have stop loss.

>>2065008
that's kinda cool tho

does it parse /biz/ and counts number of occurrences of those memecoins?

Does anyone run a diversified portfolio holding altcoins over a long period? What do your gains look like?

>>2065718
How do you deal w/ the high votality? Don't all alts drop like 5% consistently?

>>2065333
What about a bag of dried beans?

Has anyone any success with using bots, like from cryptotrader?

>>2063709
Saved. Good advice.

>>2067510

Just imagine you buy every low market cap(< 1 million) coin in 2015 for 0.1 BTC.

Let's say you buy 100 coin, so you spent 10 BTC.

Right now you probably have 500 BTC sitting on your wallet.

>>2067679
Don't ever use trading bot.

Just goodle altcoinbot.io scam and you'll see why.

Hundreds of people lost btc because of poloniex API hack.