So, I started daytrading officially yesterday (I did some trials last week.) My strategy is to hold two altcoins until they are sold for 2% more than buying price. This was going good, until someone put a massive pile of ripple for sale just after I bought it. This is going to take a year before I can get rid of those.
Usually altcoin only has very small liquidity, I think we should start trading btc and fiat. I think day trading is more appropriate in pair of btc and fiat. Basically trading cryptocurrency is very risky so we have to understand what we want to do, I mean we don't trading like gambling. 
Topic: My Daytrading Diary (from 0.0354 to the moon!) (Read 776 times)
So how are you going now mate? Have you had any luck increasing your balance?
So, I started daytrading officially yesterday (I did some trials last week.) My strategy is to hold two altcoins until they are sold for 2% more than buying price. This was going good, until someone put a massive pile of ripple for sale just after I bought it. This is going to take a year before I can get rid of those.
your doing a quite safety strategy and its too impressive Doing it with that amount i am looking forward for your success
And dont bother about criticism its part of your journey to the moon
Focus on your target and let things happen by all means
P.s ..if this campaign of yours becomes successful i would love to use it
Too after your success.LongLive
If this post to give trading signals I really appreciate this, you deserve some followers to buy the same coin with you.
In fact I will believe it, even if the evidence you give is incomplete.
In fact I will believe it, even if the evidence you give is incomplete.
I won't post screenshots because exact information about ones account can be used to claim that account. I don't know how common this is but why take any risk? Today, I'm holding Okcash and ETH, total value 0.0376.
This was going good, until someone put a massive pile of ripple for sale just after I bought it. This is going to take a year before I can get rid of those.
it is a big mistake to do this though.
keeping the investment funds idle for a long time (a year as you said or even 1 month) is nearly just as bad as losing money in a bad investment. you are imprisoning your funds which you could have used to make profit elsewhere.
sometimes you need to take a small loss and accept it in order to be able to make bigger profit.
and I am saying this generally, as an advice. not just about Ripple, it may get pumped tomorrow for all I know. but this general advice is something that will help you maximize your profit most of the times when you are trading altcoins.
Since there is some correlation between different altcoins, selling with small loss could result to other loss with other coin. Of course artificial pumps are different but I don't foresee those pumps.
This was going good, until someone put a massive pile of ripple for sale just after I bought it. This is going to take a year before I can get rid of those.
it is a big mistake to do this though.
keeping the investment funds idle for a long time (a year as you said or even 1 month) is nearly just as bad as losing money in a bad investment. you are imprisoning your funds which you could have used to make profit elsewhere.
sometimes you need to take a small loss and accept it in order to be able to make bigger profit.
and I am saying this generally, as an advice. not just about Ripple, it may get pumped tomorrow for all I know. but this general advice is something that will help you maximize your profit most of the times when you are trading altcoins.
OP, can you post screenshots of your trades? I believe it will improve the visual quality of the thread and it will make it easier to follow you point by point.
What altcoins are you trading? Do you have a set list or do you pick one at random?
Good luck on your trades.
What altcoins are you trading? Do you have a set list or do you pick one at random?
Good luck on your trades.
It is a good strategy for trading. Seting up a prior target profit will help you are not greedy. But I think with each coin, you should set a different percent target. And with coin fall down too much, let cut loss soon.
So, I started daytrading officially yesterday (I did some trials last week.) My strategy is to hold two altcoins until they are sold for 2% more than buying price. This was going good, until someone put a massive pile of ripple for sale just after I bought it. This is going to take a year before I can get rid of those.
And you experiment with different coins to see what is right for you or just for the sake of interest. Just from what you said clearly only one you do not have a goal to make a profit, but there is a goal to try to play everything that is. So, I started daytrading officially yesterday (I did some trials last week.) My strategy is to hold two altcoins until they are sold for 2% more than buying price.
Nice target for profits, not too big and not too small that it will eat up by transaction fees. I suggest that you post at least a screen grab of your trades, just blur those parts that are sensitive. This will also motivate those who wants to start with trading but are too afraid because they thought they cant start with just a small amount of money.
So, I started daytrading officially yesterday (I did some trials last week.) My strategy is to hold two altcoins until they are sold for 2% more than buying price. This was going good, until someone put a massive pile of ripple for sale just after I bought it. This is going to take a year before I can get rid of those.
So, do you mean that you actually trading daily with your strategy, but your invested coin stucked now and waiting for the price to reach... So, what should you write in your daytrading diary recently
Interesting; I'm currently doing a similar self-imposed challenge myself although without day-trading. You're currently holding Ripple and Ethereum, right? The fact you haven't run into the red numbers after the first week is already a positive thing.
I have ETH and verticoin now. Hopefully at least one of them will be sold soon so I get back in business.
Interesting; I'm currently doing a similar self-imposed challenge myself although without day-trading. You're currently holding Ripple and Ethereum, right? The fact you haven't run into the red numbers after the first week is already a positive thing.
there are several meaning to the moon and usually on cryptocurrencies people use to the moon words to explain the price starting climbing up rapidly but trading is unpredictable jobs and there is no guarantee if today you will get profit but tomorrow not necessarily you will get it too however 2% is good and might be you can reach that profit target daily because it doesn't so high
The sensible decision you've made is to choose a coin with volume. If it was an obscurity then you could indeed be waiting a long, long time to gain again. With something like Ripple some action will be along shortly.
Where are you trading? Fees are likely to pile up rapidly if you're running in and out of coins.
Where are you trading? Fees are likely to pile up rapidly if you're running in and out of coins.
I'm trading in Bittrex. Maybe that's not the best place but as I already moved those bitcoins there moving would be more trouble.
The sensible decision you've made is to choose a coin with volume. If it was an obscurity then you could indeed be waiting a long, long time to gain again. With something like Ripple some action will be along shortly.
Where are you trading? Fees are likely to pile up rapidly if you're running in and out of coins.
Where are you trading? Fees are likely to pile up rapidly if you're running in and out of coins.
Why I have choosed 2% is a good guestion and I think there is still room to adjust that. First I tought I would go for 5%, but then tought that it would be easier to get three times 2% than one time 5%. But it is plausable that the best percentage is still "out there" for me to find.
I know what stop loss means, I just don't want to use it. For long and slow decrease I can make the decision myself, for very quick one there is high probability for correction upwards.
I know what stop loss means, I just don't want to use it. For long and slow decrease I can make the decision myself, for very quick one there is high probability for correction upwards.
So, I started daytrading officially yesterday (I did some trials last week.) My strategy is to hold two altcoins until they are sold for 2% more than buying price.
is there any particular reason why you chose 2%?because it is such a small percentage even if you want to be the safest there is still room to increase that. you are paying ~0.2% fee each time you trade an with a buy and sell that is 0.4% gone. your net profit is 1.6% right now and i am not even bringing in the transaction fees for your deposit and withdrawal which is a big percentage of 0.0354BTC that you are working with.
Quote
This was going good, until someone put a massive pile of ripple for sale just after I bought it. This is going to take a year before I can get rid of those.
not gonna say buy/sell/hold. just want to mention that you should learn about what "stop loss" means. that can help you save a lot of money in the future. 
That strategy definitely isn't good. It might have worked for you a few times, but don't expect it to work forever. Just like what happened to you, people with huge holdings can easily temporarily manipulate or move the prices, especially with coins with lower market caps.
Jump to: