Topic: For those who don't trade altcoins (Read 1341 times)

I've seen this before, in the penny stock market. Someone comes along with a natural talent for picking the winners, piles up profit after profit, and wondering why everyone else isn't joining in the easy bonanza. People like that always have something in common: they're naïve. Burned-and-calloused vets like me can't let down their guard enough to throw burned-in caution to the wind.

But the naïf with a hot hand does compile huge gains...until the playing field changes. Then, the same talent gone dysfunctional in the new playing field leads to the same old story. "I Turned $10,000 To $1,000,000 to $0."

Been going on in the wilder parts of the stock market for a lot longer than I've been alive...

The odd of being wrong is also high. Did your winning justify taking the risk of losing often?

It is all about luck. On your lucky day you always pick a good coin to trade.

Yeah, the sentiments here are mostly true. Easier said than done.

Maybe the OP is trying to get more people to speculate on alts since more and more people are learning to be wary of alts and he needs to replenish the growth of his BTC.

it seems easy at first, then you realise it is not, try now to predict the next coin that will rise, and unless you want to buy them all you will probably miss it

supercoin was basically dead.....

I agree with you that it could be much more profitable to trade in altcoins then in bitcoins. But it is also much more risky. Only invest what you can afford to loose!

Catching pump and dumps is easier said than done. I do it, but I am pretty cautious about it and take profits quickly. These are very risky -- after the initial pump, many coins just die.

The trick is to invest with coins that have a purpose and have multi projects. a team working hard to implement structures outside the miners/traders

You invest in POW coins especially because with POW people always have a safe fallback to join the coin. Most traders are miners. So coin that have long ongoin POW will always be profitable.

Look at dogecoin. the moment it started spiking , everyone joined their POW and it blew up even bigger. you could have bought at 30 satoshis and cashed out at 250. now they down again and you can profit once more by investing.

Also my go to coin. Karma coin. very undervalued. at like 3-4 satoshi range now ( well trading in litoshi) but the team will not stop until 500-1000 satoshis. But what do you know about Karmacoin projects? soon to go back to btc market trading and you will see it blow up some more. if you go read our forums you will see all the tremendous work being put into taking this coin mainstream. including our search engine that will reward users in karma when they interact with it. www.lill.com

You can read 6 more projects in the forum under IPOCOs http://karmashares.com/forums/

Not to mention KarmashareLLC where anyone can buy shares by using the coin. Almost 8.5 billion coins invested already.

so many future project and the coin is so much undervalued.

Well that's interesting, I tried to help those poor slobs wasting their time trading BTC/USD in the speculation forum to come where the real money is and the mod kicked me out. Oh well.

If you know how to trade then you can increase your BTC. But everybody can't find true coins before pump. That's why some people win and some lose. Everybody can't win at the same time.

Every single one of those coins you mention have turned to shit. 99.9% of Alt-coins are either flawed in some way that they end up as pump n dumps or designed with the sole intention of being a pump n dump coin. I can't get no access to proper market data for these sh1t coins, I have no inside information, I don't know how to spot one that might actually be of any worth over the longer term.

If you are able to take such large profits, and people who know what they are doing are able to take huge profits, then that must mean that the vast majority are losing their shirts. Anytime I have dabbled in a sh1tcoin I have regretted it.

What is the criteria you follow for identifying new coins as potential suitors for a rise in value?

I mostly mine at multipools, currently CM for the last 30 or so days with a few dips into wafflepool depending on the day, but I also have some dedicated hashes that I move around from coin to coin depending on it's trade conversion value on exchanges like cryptsy or bter.

Are you nuts?
I discovered btc back in December and played around trading btc for a couple months before discovering altcoins. There are several coins in the last several months that went 100x their price within a week: Aur, MAZA, XC, BC, and most recently Supercoin. In any given week there is usually at least one coin that goes 40x+ and several that go 10x.
Why on earth would someone waste their time trying to time buys and sells with btc to make 10-20% profit?
Yes, it's risky, but let me tell you something - there are a LOT of stupid traders. Anyone who has spent a lot of time with btc and is up in profits with these lousy returns would have a field day.
I am a terrible trader. I have no experience and am self taught mostly by watching and getting dumped on, but I do find it relatively easy to spot new coins that will blow up. I'm up over 10 btc - and that is after accounting for many, many losses during my learning process. Nearly all those gains were made in the last 30 days. Someone with a clue could EASILY be up over 100 btc with the picks I've made in the last 10 days.
Just a thought.