Topic: Random coin picks experiment - page 5. (Read 829 times)
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
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 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.
You might able to see the common way on how price do moves and yes it can pump unexpectedly.If you can able to profit into your own experimental system then go ahead.
Good thing that you do realize that gurus,professional traders are just a total shit or waste of time.Just put on mind that you shouldnt strive or force to hit goals like
100% in a matter of 1 month yet this had been always unpredictable neither achievable or not on said duration.
Just always mind and be strict on following risk management.
Thank you guys for replying. Got 2 strong opinions to consider: 2017 bull run not gonna happen again and alternative to mark cap is daily volumes. That's really useful to rethink some points. I will probably decrease expectations from ROI to somewhere between 20-80%. And will think about the criteria for choosing coins on my list. And yes, I will invest only what I can afford to lose. That's rule #1 for me because crypto is unpredictable.
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 appreciate your courage mate! Please remember the golder rule of crypto trading - never invest anything that you can afford to loose! I hope you have kept a small budget for this experiment because it sounds really very risky!
As per the current coinmarketcap data, it seems like you will have around 70 coins to choose from so it will be a big gamble because market cap data is often deceiving. I will rather suggest you to use daily volume. If you choose among coins with 100 million daily volume, it will narrow down to 40 coins only. It will reduce the risk factor drastically down. Think wisely!
The thing is I do see it as an actual trading/investment strategy. I just realized that this method totally satisfies me, as I don't want to fall in the stress of checking every news, graph, twit. I relly on assumption that simplest way to make profits in this market right now just guess. But conditions should be worked thoroughly. That's why I ask for some advice. Maybe budget allocation should be changed, or duration. I don't know yet, but hope someone has experience and ideas to share.
Then I'm sorry but it's simply bound to fail. If it was that easy to pick the right coins to profit on, then majority would be doing really well, which is obviously not the case. For this to work, you'd need a similar altcoin bull run as big as what we had in 2017, which is quite unlikely to happen again in my opinion. People are ever so slightly smarter now even though some of the useless and scam coins are still at the top 20.
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.
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 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 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.
Extremely risky!
As what @Dsrt18 said.
2017 will not happen anymore for me, it's really difficult for this hear or upcoming years since last 2017 was the ICO FEVER, most of the altcoins before are based and under on ethereum.
And look most of altcoins now from 2017 parabolic run, still 50 % - 99% down.
Random picks without any fundamental/technical analysis is like playing on loterry.
Much better if you do that on top 1-50 highest market caps, much less risk for sure.
As what @Dsrt18 said.
2017 will not happen anymore for me, it's really difficult for this hear or upcoming years since last 2017 was the ICO FEVER, most of the altcoins before are based and under on ethereum.
And look most of altcoins now from 2017 parabolic run, still 50 % - 99% down.
Random picks without any fundamental/technical analysis is like playing on loterry.
Much better if you do that on top 1-50 highest market caps, much less risk for sure.
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.
The thing is I do see it as an actual trading/investment strategy. I just realized that this method totally satisfies me, as I don't want to fall in the stress of checking every news, graph, twit. I relly on assumption that simplest way to make profits in this market right now just guess. But conditions should be worked thoroughly. That's why I ask for some advice. Maybe budget allocation should be changed, or duration. I don't know yet, but hope someone has experience and ideas to share.
It looks more like short term investing.
I see less profits here or worse there could be none and you lose more.
Random?
C'mon. In year 2017, that could have worked. But now? No way.
This era is more like just dumping the altcoins and going for stable coins. That is why all my altcoins are still rotting in a big old wallet. Different wallets actually.
I see less profits here or worse there could be none and you lose more.
Random?
C'mon. In year 2017, that could have worked. But now? No way.
This era is more like just dumping the altcoins and going for stable coins. That is why all my altcoins are still rotting in a big old wallet. Different wallets actually.
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.
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 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.
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