Altcoin Trading Guide

[evicktd]

Originally Posted by duffrageous

Monaco will be listed on 4 new exchanges tomorrow. Will the price go up or down after it's listed?

http://markets.businessinsider.com/n...r-5-1010319045

https://bittrex.com/Market/Index?MarketName=BTC-MCO

https://www.binance.com/trade.html?symbol=YOYO_BTC
I had a chance to buy Yoyow at 4 AM when I woke up to go to the bathroom, but I decided to go back to sleep instead.

I like the chronology of the news here.

I really like $LUX and $VEN... $THC is the first weed ICO to catch a bit of steam and might be a good look. I have positions in both of the former.

$IOTA too, I'm waiting for it to fall of its highs before jumping in.

[evicktd]

Originally Posted by duffrageous

Alt movement since yesterday:

btc price alt market cap
7656 96.7
7728 96.3
7753 96.5
7751 96.8
7917 96.3
7819 95.7
7840 94.8
7952 93.6
7993 92.9
7942 95.6
7867 95.6
7701 97.9
7561 98
7802 97.1
7864 98.2

Where are you getting altcoin marketcap numbers?

https://coinmarketcap.com/charts/ ?

I feel like we should have "at the time of writing" in our signatures because of the crazy movement that happens from day to day lol

[duffrageous]

The dip of the big gainers yesterday was early this morning. I saw them dipping, but I'm impatient and don't like to put in limit orders while I'm sleeping. I could have made an easy 20%. I'm trying to track historical movement(mainly in last 6 months) of each alt as well as recent movement to check if there's any pattern. It seems like most alts hit a high mid-year and then have been slowly dropping until recently before taking off again close to the high(but not above).

I just subtract BTC market cap from total market cap in OpenOffice Calc or Google Sheets. Basically, when BTC is steady, alts start to go up. When BTC pushes above $12k, alts should slow down or stall.

[evicktd]

Originally Posted by duffrageous

The dip of the big gainers yesterday was early this morning. I saw them dipping, but I'm impatient and don't like to put in limit orders while I'm sleeping. I could have made an easy 20%. I'm trying to track historical movement(mainly in last 6 months) of each alt as well as recent movement to check if there's any pattern. It seems like most alts hit a high mid-year and then have been slowly dropping until recently before taking off again close to the high(but not above).

I just subtract BTC market cap from total market cap in OpenOffice Calc or Google Sheets. Basically, when BTC is steady, alts start to go up. When BTC pushes above $12k, alts should slow down or stall.

Same sentiment.

And if BTC falls, down goes alts too

[duffrageous]

True. Anyone catch the alt dip in the last day? People called me crazy for buying IOTA at 5.50 last night, so I sold it at 5.40 and said I'll buy at the dip at 5.25. But what if it dipped further? Well, this morning it dipped to 3.75. People called me crazy for buying Einsteinium when it was already up 100% on the day and Mana when it was up 150% plus putting my buy order 10% above the last price. I didn't listen.

https://coinmarketcap.com/currencies...raland/#charts MANA
https://coinmarketcap.com/currencies...einium/#charts EMC2
https://coinmarketcap.com/currencies/iota/#charts IOTA

Alts are dipping and a select few alts are being pumped now.

https://coinmarketcap.com/

Sort by biggest gainers last 24h. Mid-cap alts mainly are being pumped.

Alt market cap last two days:
151.2
156.2
158.6
159
160
155.3

BTC price:

11299
11917
11992
12399
12586
13402

[duffrageous]

Alts are finally on the rebound after two days of slumping with the BTC rally. Congrats to those who sold BTC at 17k and bought back in at 15k. I tried desperately not to sell all my alts. I wanted a 50/50 profile, but I ended up with a 75/25 as they continued to dip. Of course, they're in recovery now unless BTC goes on another bull run this weekend.

I want to take the time to talk about small cap coins. For these coins, you can employ two separate strategies or use them both:

a)Do your research into these coins. There are so many coins that have a market cap less than 1% of the top 10 coins($3m or less) or even unknown market caps. These account for 1/3 of all the coins listed on coinmarketcap. Most of these coins won't help grow your portfolio, but many will grow in market cap depending on the strength of the development team and community for the coins. Rarely will any of these coins make mainstream news.

b)Look at trading volume. As the small cap coins generate more interest the volume will increase. The price might not change at all but an increase in volume means more interest, more people trading, and usually means an increase in price. This could stop and then drop after a few days though, so you have to keep track.

You can import the data here into Excel or Google Docs to keep track:

https://coinmarketcap.com/all/views/all/

[duffrageous]

Depending on if you're a whale or not, you can easily dip into the small cap coins and get your price. Even though there are a ton of novices trading bitcoin and ethereum, there are even more in the mid cap and small cap coins meaning the price will vary at a greater rate. You can set stop losses as well if the market moves in the wrong direction. And you want to have your sell orders ready so if you get a spike, it will hit that spike and then trend toward the hourly level or whatever time frame. I've been trading these two coins:

https://bittrex.com/Market/Index?MarketName=BTC-safex
https://bittrex.com/Market/Index?MarketName=BTC-meme

The first coin is an interesting coin because it's being delisted from bittrex on Friday. This means anyone who wants to get rid of it is most likely gonna sell it and everyone who wants it before it goes offline(wallet will stay online for a period) can buy it. I was looking at past patterns of coins that got delisted(bittrex delists all coins that pay dividends or staking rewards except for NEO because it's so big). There was a spike and then crash in pretty much every coin every time they announced it would be delisted. That's what you see in Safex. But the day before it gets delisted(Thursday), there should be a frenzy of selling and buying. It's really dangerous to trade a coin that's falling and probably the second easiest way to lose money. The first way is to buy during a pump and not have a sell order set. 95% of the volume is on bittrex, but you can still trade on Cryptopia after.

Because of the relatively low volume right now and most dumpers have already made their play, you can see where the base is at from 90 to 94 sat. You can set a buy order around 92-94 and then trade it when it hits 98 or 99. You won't make much if you're trading about .1btc at a time, but it's like $100 per trade. More of a time waster than anything else to be honest. The resistance is at 105, but you'll likely see resistance at 100 leading up to it if it passes 100 sat. And you're sometimes wrong, so you'd at most make a few hundred dollars staring at the the orders and chart all day. It's nice if you don't have a job though.

[duffrageous]

If anyone has been hiding under a rock the last few days, the alt market is up 50% since Thursday thanks in large part to Litecoin and Ethereum. Most alts are up though.

Alt Market Cap 12-6-17-12-13-17

160 12/6
155.3
154.3
154.6
151.7
151.3
149.4
145.4
148.9
149.5
146.6
154 12/8
161
164
165.8
170.6
170.9
161.1
146.3
156.5
150
159.1
161.4
161.7
163.6
162.3
168.1
176.7
181.3 12/12
200.1
204.5
208.4
216.7
225

BTC Market Cap:

210.5 12/6
224.1
235.1
243.6
246.2
265.8
272
266.3
280
289.7
305.5
282.5 12/8
262.7
280.8
270.4
265.1
265.5
246.7
226.3
259
257.7
264
273.9
278.4
281.8
277.3
280
281.1
285.2 12/12
290.4
294.4
284
287.6
286.9

[duffrageous]

This post was copied over to the other thread. I just noticed how to find out when to sell and buy within 30 minutes, so that we all make money next time bitcoin goes up or down. If bitcoin continues to fall(not sure about for how long yet), then alts will fall as well as people lose hope in alts afterwards. This pattern occurs because alts are traded in bitcoin pairings, not fiat or $ pairings. So when btc starts to rise, you think your alts are losing money and panic sell, but in reality, the real $ amount is constant until a big selloff. The same for when btc price falls, it looks like alts are rising, but their real $ amount is actually staying constant, which creates momentum buying into the alts until btc has dropped so far that people just cash out for USDT again.

If you look at this chart(should default to 30-minute candles), you want to sell alts at the first big green candle that you see, and then you buy back in at the first big red candle that you see. It's always the same pattern. This is what the the whales and pros do. You can probably set an alert in the handful of programs available for free online and send it to your phone. You can set it to 1-2% gain in 30 minutes to alert you and then around 1% loss in 30 minutes since the small losses usually signify that the price has peaked.

https://bittrex.com/Market/Index?MarketName=USDT-BTC

Inverse trend in alts(timing differs slightly depending on volume(higher gains they've achieved usually means a harder fall):

https://bittrex.com/Market/Index?MarketName=BTC-btg

https://bittrex.com/Market/Index?MarketName=BTC-NEO

https://bittrex.com/Market/Index?MarketName=BTC-bcc

https://bittrex.com/Market/Index?MarketName=BTC-xrp

https://bittrex.com/Market/Index?MarketName=BTC-ltc

https://bittrex.com/Market/Index?MarketName=BTC-eth

Hopefully you guys can make around 10-20% profits instead of losing or panic selling next time around.

[duffrageous]

We got a green candle forming now. Time to see if alts dip.

https://bittrex.com/Market/Index?MarketName=USDT-BTC

[duffrageous]

Sorry for the lack of news the last 4 days. I was busy trying to get in on all the alt auction. It basically got too tiring trading bitcoin as the pattern seemed to veer for a number of coins with some coins going with bitcoin changes, others going against it, and some trading sideways. Alts reached a historic moment last night. They reached 50% of the market cap for the first time since the bitcoin cash pump over 5 weeks ago on Nov. 11. People are trying to strike it rich by buying alts while knowing bitcoin has been pushing 20k for the last week. The switch will happen in the next couple days, so get ready to buy bitcoin unless you want to see your alts drop by 10-20%.

[Elifkhan]

I also heard a rumor that Chinese and Korean miners were going to stop mining BTC and switch to Bcash and NEO and BTC would die. The Chinese Goverment would stand behind NEO and work with it the way the U.S. is working with BTC. Don't believe the FOMO though, they have news coming out but people are trying to pump it up at same time.