Random coin picks experiment - page 4.

nicolas1979

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Quote from: xiver88 on February 13, 2020, 03:49:01 AM

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.

SquallLeonhart

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Quote from: mk4 on February 13, 2020, 05:47:43 AM

If your goal here is just to have an experiment for entertainment and curiosity purposes, then great. I'm really interested. I just hope you don't see this "strategy" as an actual trading strategy to actually earn money.

What? For entertainment and curiosity purposes? Am I into gambling board or trading board? This is first time that I am coming across an experiment on trading just for entertainment purposes. Unlike your suggestion, I guess OP sounds like more serious on his "experiments".

Quote from: xiver88 on February 13, 2020, 03:49:01 AM

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.

In simple words, you are about to invest into 2 to 5 altcoins from coinmarketcap listing with 100M marketcap. But, now sure how you are going to achieve 100% ROI within a month. Instead of writing a script to choose coins randomly, write a script to identify a coin which got potential to be bumped in near future.

Quote

The goal is to keep everything as simple as possible.

With random coins, I am afraid you cannot keep things simple. Either you may be enforced to wait for infinite periods or you may need to book losses within a month.

Question123

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Bull run have effect on the different coins because they have altcoins even not potential are risinv the value or not in the rank 50 or up.
Usually I invested some of the coins who are not popular and the price is very low like cents only because if it turn into high price my money will grow very high and Im going to become a millionaire.

Picking a coin needs a good research and discovering the potential because you can know if your money will possible to grow .

During bull run only potential coin increase the value but they still random coins are increasing too.

Janation

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Quote from: xiver88 on February 13, 2020, 08:44:14 AM

And yes, I will invest only what I can afford to lose. That's rule #1 for me because crypto is unpredictable.

You should also consider putting your money into popular coins.

I know this is normal but there are some investors that go with newer coins since the chance of getting a high profit is there. Also, it might counter your real objective of picking random investments but still, just to be on the safe side with your capital. Maybe you could pick randomly on these popular or common coins like Bitcoin, Ethereum, XRP, BCH or BSV.

Oceat

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It's a waste of time and money if you think your experiment would come and handy in the future, then you must not continue to do it. Try another strategy because I'm sure what you have been trying to do has been done already with other people. Don't make the same mistake not unless if you really want to know what will be going to happen to your experiment in the long run.

wozzek23

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Quote from: xiver88 on February 14, 2020, 03:59:03 AM

Wow! I start to love this forum.

Most welcome, you will have a lot to learn about here but please be very cautious when you enter the marketplace area.

Quote from: xiver88 on February 14, 2020, 03:59:03 AM

So many quality answers I didn't expect. I appreciate your knowledge and experience. I know this strategy sounds dumb and risky, but my goal is to keep it simple and not time-consuming.

I understand that but you need to know that the altcoin market is not as liquid and solid as it used to be like an year ago or two. You might want to visit the altcoin announcement section and you will see how many new coins are coming to the scene every day.

Here you go - https://bitcointalk.org/index.php?board=159.0

Quote from: xiver88 on February 14, 2020, 03:59:03 AM

according to this, I was thinking of how to profit without hassle. And the simplest way is to guess but set some rules. I hope it it will work

Best of luck with that but please do little home work before you buy any altcoins.

barbara44

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Quote from: ikicha on February 14, 2020, 04:32:26 PM

LOL.

This action was a stupid action for me, the risk more than a gamble risk. You should know more than 90-95% a cryptocurrency who got listed at coinmarketcap its shitcoin, based on that your chance was not good. Most of the picker from the script will choice a shitcoin, also marketcap can be manipulation by exchange bot.

Yes, because there are more and more exchanges too and even small exchanges are heavily listing coins just by taking some listing fees. I think this idea of buying all coins might work if you are trading on a reputed exchange like poloniex or binance because as per my estimation they will never add any coin just by taking some money, they might take money but they also do their due diligence.

Let us suppose every 1 coin out of 20 pumps hard and gets to 10 times it's value, now you have to agree that this will result is little or no profits because the other 19 coins are most probably going to be dust very soon. yes if you make some research and buy coins then it might be well worth it!

Yamifoud

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Quote from: xiver88 on February 13, 2020, 08:56:20 AM

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.

ikicha

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LOL.

This action was a stupid action for me, the risk more than a gamble risk. You should know more than 90-95% a cryptocurrency who got listed at coinmarketcap its shitcoin, based on that your chance was not good. Most of the picker from the script will choice a shitcoin, also marketcap can be manipulation by exchange bot.

xiver88

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Wow! I start to love this forum. So many quality answers I didn't expect. I appreciate your knowledge and experience. I know this strategy sounds dumb and risky, but my goal is to keep it simple and not time-consuming. All the coins are down from their ATH around 90% and maybe it's time to recover. Graphs show bull patterns, the market is ready for newbies to enter, institutions already in position and whales are ready to collect profits, halving is near. 2020 is a good year to pump this market. So according to this, I was thinking of how to profit without hassle. And the simplest way is to guess but set some rules. I hope it it will work

mu_enrico

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Slots Enthusiast & Expert

I've seen many of this experiment in the stock market, and it often outperforms managed funds (lol). However, in the crypto market you should define the pool more carefully since 100m+ market cap might not be sufficient. I mean random picks in stock market arguably safer because all stocks listed on the same exchange and have passed proper due diligence.

Perhaps you should add a few more criteria:
- listed on x primary global market;
- not a stablecoin (obviously); and
- x daily trading volume.

maydna

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Enterapp Pre-Sale Live - bit.ly/3UrMCWI

Quote from: xiver88 on February 13, 2020, 03:49:01 AM

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.

I can suggest being careful to choose random coin as an experiment because you don't know which coins that can increase. But you have a good coin at the top 10-20 coin list as that coin has a big chance to grow. I agree that in the investment, we need to determine how long the duration to hold the coin while we can search the other coin for the next investment. You don't have to try to reach a minimum 100% ROI if the coin doesn't have a good movement at the market. But for the top 10-20, I think the coin will have good move so you can expect to make a profit from each coin.

If you want to wait for the pump coming, then you need to ready because the pump can happen anytime so you can place the order sell before the pump is coming. But perhaps, I suggest not waiting for the pump because that will be hard to depend on the pump itself. After all, we don't know how higher the pump will happen.

Jating

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I still vividly remember 2017.

Like every week there are coins that its being pump, and it was like clock-work. But then again, we've already matured so I don't think if this strategy will work. Back then, I've seen coins in the top 10-20 like being pumped every week or so.

You can test it yourself, pick around that ball park top 10-50 and then see how your "experiment" goes.

GreatArkansas

legendary

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Quote from: Ucy on February 13, 2020, 08:51:09 AM

Probably better to create bots to earn from the fluctuating price of established cryptocurrencies. This is safer and can earn you consistent profits. You just need to properly set the bot to buy important dips and sell bit by bit as price recovers. You could just leave some amount of coin for long-term increase in price

It's kinds really risky. Using bot and set it on buying dips without any foundstion.
For me, not all in dips will go pump. Which dips are more risky to buy than selling it because if you say dip, it could probably near on horizontal support and could break that horizontal line and continue to go down.
It's not kinda easy though, as what TrevorS said above, bot also can be costy.

TrevorS

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Quote from: Ucy on February 13, 2020, 08:51:09 AM

Probably better to create bots to earn from the fluctuating price of established cryptocurrencies. This is safer and can earn you consistent profits. You just need to properly set the bot to buy important dips and sell bit by bit as price recovers. You could just leave some amount of coin for long-term increase in price

To start, this kind of bot needs to be written, or found. No one in their right mind will sell cheaply these kinds of things.
Indeed, such bots can bring huge profits in automatic mode due to the complete shutdown of the human factor.
However, I have not yet met such products on the market that would have a long positive history of work and would also be cheap.

Oilacris

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Quote from: beerlover on February 13, 2020, 10:37:03 AM

This was done before with the random number generator given to a random number generator website and given the number of 1000, so whenever a number came up, that person bought that coin whatever rank it was, of course ranks constantly changed but he looked it at only during at that time even if it changed later on. Dude made like x5 profit but of course this was during the altcoin boom so I can't really say it will work nowadays.

Just to give an example, if dude did the same exact thing during 2018, he would have lost over 80% probably, which means that people who do stuff like that can make a profit during bull market no matter what since all coins go up, but they will lose like hell on a bear market because all coins drop. It is not about picking the right coin, it is about picking the right time.

Agree!

This kind of experiment would indeed only work on bull market same as you said but not on a bear one.You did really divide the risk yet youve been selecting those random alts
but when majority of them will go to the opposite side then for sure it would wipe out your entire capital or which would leave you hanging or pending yet you would need to wait
again for price increase for breaking it even or else you would end up on cutting losses.Its a matter of trial and error just make it sure that you do able to get out before
situation gets worst or even on taking profit time.

beerlover

legendary

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This was done before with the random number generator given to a random number generator website and given the number of 1000, so whenever a number came up, that person bought that coin whatever rank it was, of course ranks constantly changed but he looked it at only during at that time even if it changed later on. Dude made like x5 profit but of course this was during the altcoin boom so I can't really say it will work nowadays.

Just to give an example, if dude did the same exact thing during 2018, he would have lost over 80% probably, which means that people who do stuff like that can make a profit during bull market no matter what since all coins go up, but they will lose like hell on a bear market because all coins drop. It is not about picking the right coin, it is about picking the right time.

webtricks

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Quote from: xiver88 on February 13, 2020, 03:49:01 AM

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.

I don't know how this strategy gonna help you earn more. At the end of the day you are just choosing coins on the basis of random selection. No doubt, during bull market most of the coins with large market cap have discrete rallies but it is not possible to identify them and make benefit of them by simply picking coins randomly and investing in them for specific period.

You need another variable so to make choice of coin a bit more organized. I will give you an example, you can think of something similar: Why not add another variable Z which is the number of times a coin has been mentioned on Twitter. For example, Zb i.e. number of times #Bitcoin or $BTC mentioned on Twitter is 5K whereas Ze i.e. number of times #Ethereum or $ETH being mentioned on twitter is 3K during last hour. Now if Zb rises by 50% in next hour, it shows that people have started talking more about Bitcoin on twitter which maybe due to sudden price rise.

You can make bot to shift investment into that coin as it may indicate the upcoming rally. Well this was just a random suggestion, you can think of something more accurate. I just trying to make point that choosing random coins will do more evil than good.

mersal

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Better pick the trending coin over any random coin to increase the chance of getting reaps for your investment.You can visit coin market cap to kniw highest price bump for lasy seven days the pick the coin with more trading volume and total market cap.

xiver88

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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?

Topic: Random coin picks experiment - page 4. (Read 809 times)