11 - 12 SepTotal return: 308%
Coins: LSD, LTCD, APEX, XCASH
LSDI’ve noticed that one of two things tend to happen when a coin is added to Bittrex. 1. Miners pile in and dump prices down to nothing, leaving the Traders who were too eager to buy in with bags full of worthless coin. 2. Prices build up quickly as the order book starts off virtually empty, meaning traders can fire off a number of x2 trades within minutes. The defining factor that pulled me into this market though was the fact that LSD had been the talk of the town for an entire day before being added to Bittrex... and I know that there are several guys out there who restrict their trading activity to one venue – Bittrex (the choice of most traders in crypto).
so, I knew that LSD wouldn’t dump when the markets opened. I sat back and watched prices shoot up from 20K – to 60K without getting involved (due to the actual volume being so low).
I didn’t bother placing price alerts as there were virtually no orders... What brought me into this trade was when I saw prices dip back down to 20K bringing several lowball Bids into the market – causing a spike in volume. Then, as expected, other traders began to pile in creating support at 30k level. As I saw that buyers were becoming more aggressive and that resistance on the sell side was almost nonexistent – it was obvious that my path to profit was as simple as buying in at market price, placing my sell orders and moving on to the next coin.
It was an effortless trade from start to finish.. 62% gain. Could have dipped back in for seconds and thirds but there was much more action to be had elsewhere.
Tip:
If I put on a trade today and it’s not working by the end of the day, i’m out. I don’t want to take any more risk. I might get back into it tomorrow at a worse price, but that is a premium I’m willing to pay to see the market acting the way I think it should be.LTCD Nice trade here. I don’t know what exactly is driving this market. But, it does look quite good. In fact I still have an open position in LTCD as sell resistance is quite thin.
Really obvious trade here. I spotted a lot of accumulation taking place yesterday, so I set up a series of price alerts so that I could get in when the market started to move. (I find it a risky strategy to try and lowball my way into an un-established coin, as prices can tumble very sharply). I like to execute momentum plays on newer coins, as that takes the guesswork out of my trading and all I have to do is ride the tide, set realistic sell orders and exit.
Tip:
If your losses are larger than your gains, it could be because you have a gambler’s mentality. I’ve seen people that find themselves in a losing streak, and then they always start looking for that “one trade” that will make it all back. I learned early on that you can’t do that. You have to really work at it. That is what I do. Every day I make dozens of transactions. I grind out the returns. If you look at my daily returns you will see that there are very few times where the majority of my gains come from just one trade. You need to be patient and diligent enough to do the proper research and study the way the market moves. I tell you, once you do this – you will find losing much more illogical and difficult than winning.APEX I lowballed my way into APEX. I had been attempting to do this for days now, last night my conditional buy order triggered and brought me in. These guys released an Update today. Wherever there’s a story, I’m there...
Ideally, I was looking for at least a 100% return... But it wasn’t to be. Volume kept stalling out – and the wider market was obviously pre-occupied with other coins. So I (this is rare) dumped out manually for a 67% gain.
Tip:
The tendency of traders to buy after a price increase for no reasons other than the price increase itself causes prices to overshoot. When traders are making money because they are greedy and fearless, which is typically after a large price rise, doing the opposite is a good idea.XCASH XCASH has seen good volume for nearly an entire week now. Always a good sign.
I have been monitoring XCASH for some time now... I saw that the Volume was behaving in a particular way that indicated an impending rally. The order book confirmed this as sell orders were very slim, and traders were actively buying through sell orders.
Easy momentum play.
Tip:
One of the biggest mistakes a trader can make is to believe that what has happened in the past is likely to persist. They assume that something that delivered good returns in the recent past is still a good trade. Typically, high past returns simply imply that a coin has become more expensive and is a poorer, not better, trade.Note: I’ve noticed much more volume coming into the Alt markets this month.. I think there is going to be a lot of opportunity during these coming weeks.
Twtter: @Pumper_Ryan follow for daily picks, and updates.