Topic: Random coin picks experiment - page 3. (Read 809 times)
if you notice the market today, almost everything is red. its going to be a hostile environment for an experiment like yours specially because you expect the 100% return in a month. its not that simple when all of a sudden the market suddenly the altcoins decides they are overbought. a month of holding a random coin might not be enough for it to bounce back. buying and selling at the right time is a strategy already.
In the bull market, any altcoin can pump anytime. It happens all the time. Look at recent pumps of BSV, HBAR, XVG etc. No matter what factors lie behind these pumps it happens.
I don't know which coin will be pumping next and I don't trust any trading advisors, gurus, twitter stars. So I came up with a simple solution that satisfies me for now, but I need some advice to improve it.
It will be round by round investments. Each round has own duration and profit goals. For now, I think about max 1 month and min 100% ROI. I wrote a script for choosing random coins (X) from the list of coins with mark cap >= 100m (Y). X is planned to be somewhere between 2 and 5 coins. I plan to distribute the budget evenly. The goal is to keep everything as simple as possible.
I appreciate any improvements and advice on my strategy.
It is interesting but I do not think it is a worthwhile strategy, if you want to find some coins that could possibly pump you have no option but to learn more about cryptocurrencies and then read all the white papers you can find and then use fundamental analysis to try to determine if the coin you are studying is undervalued, once all of this factors are in play you could make a small investment in that coin and then wait some months or even a year for the coin to pump, I know this will take time but I do not think there is any other way to make this a success.I don't know which coin will be pumping next and I don't trust any trading advisors, gurus, twitter stars. So I came up with a simple solution that satisfies me for now, but I need some advice to improve it.
It will be round by round investments. Each round has own duration and profit goals. For now, I think about max 1 month and min 100% ROI. I wrote a script for choosing random coins (X) from the list of coins with mark cap >= 100m (Y). X is planned to be somewhere between 2 and 5 coins. I plan to distribute the budget evenly. The goal is to keep everything as simple as possible.
I appreciate any improvements and advice on my strategy.
In the bull market, any altcoin can pump anytime. It happens all the time. Look at recent pumps of BSV, HBAR, XVG etc. No matter what factors lie behind these pumps it happens.
I don't know which coin will be pumping next and I don't trust any trading advisors, gurus, twitter stars. So I came up with a simple solution that satisfies me for now, but I need some advice to improve it.
It will be round by round investments. Each round has own duration and profit goals. For now, I think about max 1 month and min 100% ROI. I wrote a script for choosing random coins (X) from the list of coins with mark cap >= 100m (Y). X is planned to be somewhere between 2 and 5 coins. I plan to distribute the budget evenly. The goal is to keep everything as simple as possible.
I appreciate any improvements and advice on my strategy.
It is interesting but I do not think it is a worthwhile strategy, if you want to find some coins that could possibly pump you have no option but to learn more about cryptocurrencies and then read all the white papers you can find and then use fundamental analysis to try to determine if the coin you are studying is undervalued, once all of this factors are in play you could make a small investment in that coin and then wait some months or even a year for the coin to pump, I know this will take time but I do not think there is any other way to make this a success. I don't know which coin will be pumping next and I don't trust any trading advisors, gurus, twitter stars. So I came up with a simple solution that satisfies me for now, but I need some advice to improve it.
It will be round by round investments. Each round has own duration and profit goals. For now, I think about max 1 month and min 100% ROI. I wrote a script for choosing random coins (X) from the list of coins with mark cap >= 100m (Y). X is planned to be somewhere between 2 and 5 coins. I plan to distribute the budget evenly. The goal is to keep everything as simple as possible.
I appreciate any improvements and advice on my strategy.
The goal is to keep everything as simple as possible.
Picks random coin is not good plan, maybe you'll say more simple than I must doing research just take it and leave. But depend your post it just experiment, really brave person. No more debate you want get experience I'll let you go but for me, take several popular coin for experiment is more profitable because already have volume and reputation.
The hardest thing about holding my position is mental dependence on price checking. I wish I could avoid that. 8 coins are always on my mind and I keep checking them the whole day. First thing when I wake up - I do checking. It's exhausting. I don't know why I keep doing it, but it's a kind of a bad habit now. I need to find way to forget about those coins and continue to live a normal life. Holding in bitcoin wasn't so energy-consuming though. How do you guys overcome such mental state? Any advice?
I felt such these thing when I was newbie, yeah it was very torment. I my whole day I spent to watch the moving market price of the coin and I was happy when its price was increasing but I never did to sold it because I was greedy, hoping the price is up more then that. And when its price was decreasing I felt bad and I blame myself because I didn't sell it. Maybe it just because I use money that I can't afford to lose. At that time I tried to loan money to my friend and all of the money I store it on Ripple. But right now I'm aware of it, I never have any decision to loan moneg anymore to buy some coins. I only use money that I can afford to lose and hold some coins for long term investment or depend on the market situation.
Choosing a random coins to place your investment seems fun besides, it is true that as bull run comes most of the coins will also pump. However, it would be too much risk simply because if you will take a look even if it pumps the volume would still not enough to handle those sells. Therefore, it is still much better if we will place our investment in top ranked coins which could give a high probability of getting a huge profit.
We can think of huge profits only because of the nearly approaching bull runs but have you ever thought what would happen if the markets goes in opposite direction and instead of bull runs, we land up in bearish markets? This would be a major loss for OP then and OP might really need to wait for months or maybe even years to wait to sell those coins in profits. In this situation, OP can also buy some coins which move in opposite direction of some major coins. This might give him a security that at least those coins would experience a pump in a market situation where majority of the coins are experiencing dump. I think this is a great experiment because even I personally believe when the bull market is very likely that altcoins there will get their own pumps, so this experiment is not wrong because by doing experiments like this also at least we have had a brave decision and a strong mentality. I'm sure you will get a good return later and also, that is a long list that you have picked with a total of 70 altcoins but by only choosing altcoins that already have demand in the market I am sure it will work well for your investment experiments.
We could invest in 20 coins at the same time by diversifying our capital into small parts of 5% each. This is the technique I use to get my hands on some of the potential coins but investing in more than 70 altcoins would need some major capital to start with so that we could start investing approximately 1.5% of our capital into 1 coin. This might give less profits among those 70 coins 20 might not even be affected due to the bull runs and rest 50 might give you profits.But, it would be good to choose minimum coins to invest so that it becomes easier to manage your portfolio. You surely would not need a hectic work of speculating all those graphs and hence investing in minimum coin can make you focus on profits more closely.
The hardest thing about holding my position is mental dependence on price checking. I wish I could avoid that. 8 coins are always on my mind and I keep checking them the whole day. First thing when I wake up - I do checking. It's exhausting. I don't know why I keep doing it, but it's a kind of a bad habit now. I need to find way to forget about those coins and continue to live a normal life. Holding in bitcoin wasn't so energy-consuming though. How do you guys overcome such mental state? Any advice?
I think this is a great experiment because even I personally believe when the bull market is very likely that altcoins there will get their own pumps, so this experiment is not wrong because by doing experiments like this also at least we have had a brave decision and a strong mentality. I'm sure you will get a good return later and also, that is a long list that you have picked with a total of 70 altcoins but by only choosing altcoins that already have demand in the market I am sure it will work well for your investment experiments.
I don't know which coin will be pumping next and I don't trust any trading advisors, gurus, twitter stars.
This sentences will make many people disagree with your method but I must say you are brave person. Most of us doing research before pick some coin because everything need basic reason, about profit or not that's relative. As new crypto user I suggest you try to pick any coin but must see history chart, learn it to get better profit in the future. The method is simple and not wasting time, see track record and take it. Another advice is don't use all money just half is enough to test your experiment.
We all don't know which coin will be pumping, and only with research to find the coin that we can do. We can get more signs for the coin that will increase, but we still don't know accurately, which is the coin. I think he can pick one or two coins at the top 20 coin list to research and find more significant to know the coin that can increase. It is not recommended to choose a random coin as an experiment because you will not find a good coin that can grow, and you will get the wrong coin.
This is risky and yet entertaining, I would love to see what will happen after a month of picking a random coin would you please leave us an update to your post so we are able to track down which coin, loss/profit, increase and decrease from time to time.
It's really entertaining to see someone doing an experiment like this even you though you know the risk of losing a big amount of investment by picking a random coin. I've done it before on binance buying some altcoins and holding it for at least a week and after a week I lost -28% of my total investment.
It's really entertaining to see someone doing an experiment like this even you though you know the risk of losing a big amount of investment by picking a random coin. I've done it before on binance buying some altcoins and holding it for at least a week and after a week I lost -28% of my total investment.
I ended up adding 30 more coins to my initial list, total coins 70. Also, I decided to pick 10 random coins among those 70. Yesterday I entered the position. Surprisingly 2 coins were chosen twice, so I have 8 altcoins: ALGO, NEO, DGD, VET, BAT, XZC, LEND, AION. The game is on, waiting for pumps.
I am afraid that you may wait infinitely with some of the coins. Honestly I never come across most of these coins ever at the same time I am not an expert in altcoin trading but I do watch them since 2014. But, I am curious to see your results because it is about random thing which means I may also try like this as there would be no need of intensive knowledge on altcoins is needed.Why not you start another experiment for reputed coins? I mean for active short term trading. It seems people are too eager to try leverage trading on bitmex kind of platform and if you show some good tips on where to enter and where to exit then that would be more helpful for them.
I ended up adding 30 more coins to my initial list, total coins 70. Also, I decided to pick 10 random coins among those 70. Yesterday I entered the position. Surprisingly 2 coins were chosen twice, so I have 8 altcoins: ALGO, NEO, DGD, VET, BAT, XZC, LEND, AION. The game is on, waiting for pumps.
Recent bull runs are actually the reason behind the pump of the coins you mentioned above. These coins might experience some more pump in the coming times as we have not yet ended with the bull runs as this is the start itself. There would be huge price pump for a number of coins in the coming times and I really liked your strategy. You might buy some really potential coins before the bull runs start and you would gain more than 100% ROI in a month if the price started to grow back again.
A small dip might be expected as the markets have started moving in opposite direction which would give you the chance to fill your bags with the coins you would like to invest and then watch your money growing from the bullish trend.
A small dip might be expected as the markets have started moving in opposite direction which would give you the chance to fill your bags with the coins you would like to invest and then watch your money growing from the bullish trend.
What a unique type of investment but I completely agree with your statement, once the bull run is coming almost all the potential altcoins are growing up or most of them are green.
I didn't see any potential altcoins that didn't rise it's price in the last 2 months. But 100% ROI will likely to happen in 2-4 months period if the price will continue to grow and if you will only buy them at this moment so it will be a long term holding.
It is not actually necessary to hold coins for long term to earn 100% ROI but if OP finds some better strategies and ways of trading like margin trading or future trading than I am sure that it might even be possible for OP to earn 100% ROI in just 10 to 15 days.I didn't see any potential altcoins that didn't rise it's price in the last 2 months. But 100% ROI will likely to happen in 2-4 months period if the price will continue to grow and if you will only buy them at this moment so it will be a long term holding.
Cryptocurrencies have a highly volatile markets which makes the prices go much up and down much quickly which opens doors to make profits instantly. This is what makes OP feel like he could earn a better ROI by investing into some major coins which are likely to experience a pump from the bullish signs. If OP is investing in only 1 or 2 coins and expecting 100% ROI in a month than it might not be what would exactly take place. OP would need to diversify investments into several coins which might be in the dip so that the pump can make OP fill profits quickly.
In the bull market, any altcoin can pump anytime. It happens all the time. Look at recent pumps of BSV, HBAR, XVG etc. No matter what factors lie behind these pumps it happens.
That was almost true a few years back when the altcoin market was new as each and every coin that gets into the exchanges those days was almost certain of getting pumped at least once because the owners had to cash their money. But, the market is so crowded that this technique of buying small amount of large number of coins does not work anymore.I don't know which coin will be pumping next and I don't trust any trading advisors, gurus, twitter stars. So I came up with a simple solution that satisfies me for now, but I need some advice to improve it.
Any guru and so called market analyst are scammers as long as they ask money for their predictions because there is no genuine trader who would share his market knowledge for a few bucks.
I think this is a bad idea, it will work well if we have a booming market like 2017, when you choose any currency will be profitable,
But the situation is not like that
But the situation is not like that
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I don't know which coin will be pumping next and I don't trust any trading advisors, gurus, twitter stars.
This sentences will make many people disagree with your method but I must say you are brave person. Most of us doing research before pick some coin because everything need basic reason, about profit or not that's relative. As new crypto user I suggest you try to pick any coin but must see history chart, learn it to get better profit in the future. The method is simple and not wasting time, see track record and take it. Another advice is don't use all money just half is enough to test your experiment.
We all don't know which coin will be pumping, and only with research to find the coin that we can do. We can get more signs for the coin that will increase, but we still don't know accurately, which is the coin. I think he can pick one or two coins at the top 20 coin list to research and find more significant to know the coin that can increase. It is not recommended to choose a random coin as an experiment because you will not find a good coin that can grow, and you will get the wrong coin.
my_crypto_list = ["ETH", "XRP" "BCH","BSV", "EOS", "LTC", "BNB", "XTZ", "ADA", "TRX", "XMR", "XLM", "LINK", "ETC", "DASH", "NEO", "ALGO", "ATOM", "IOTA", "BAT", "VET", "XEM", "ZEC", "ONT", "HBAR", "QTUM", "FTT", "LSK", "PAX", "RVN", "ZRX", "ICX", "NANO", "WAVES", "OMG", "HOT", "ENJ", "HC", "DOGE", "BTT"]
I have made a list of 40 coins with either high mark cap/ high daily volumes/ or both. I will randomly pick 2-5 coins among these 40. Did I miss anything?
All of them are in the market for many years and showing an impressive market performance last Bullrun. Choosing them randomly still be working good knowing the fact that most of them are rallying still then until today. This may work only during bullish but it could be hard when you are dealing with serious market trade cause for sure many will choose on the top cryptos rather than risking into the bottom one. I have made a list of 40 coins with either high mark cap/ high daily volumes/ or both. I will randomly pick 2-5 coins among these 40. Did I miss anything?
So, if you are someone who knows who to sell and and when to buy alts then the strategy will be worth it to buy some random coins and keep a sharp eye on them as they get pumped.
I’m not new to crypto and trading. I know charts for the last 3 years very well and remember 2017 pump when nobody could predict such insane growth. Every Altcoin was popping x100 accidentally, just because of euphoria. Now it won’t repeat I guess, but x2 is very real. Even if I do thorough analysis of some coins, some of you will say it’s bullshit, some will support. And both sides will be right, because opinions are different and every single coin can go either side. So I don’t see the point of spending time to do thorough analysis of 40 coins. Instead I predict rise of the market overall and choose randomly among top coins. Hope I’m lucky
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