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Day Trading with cryptocurrencies?

  • 13-11-2017 8:59pm
    #1
    Registered Users, Registered Users 2 Posts: 2,339 ✭✭✭


    I'm day trading cryptos at the moment for an extra bit of cash, so far I've used LTC but about to go over to ETH as it has better volume and predictability. Does anyone here do the same? If so, any tips/tricks/strategies that work? I've been doing my research but have only been at it since Saturday so am a total newbie.

    I'm up a few hundred € so far so not doing too badly, but the more knowledge I have the better, so if anyone have any experience please share!


«1

Comments

  • Registered Users, Registered Users 2 Posts: 318 ✭✭flashforward


    What site are you using for the trades?


  • Registered Users, Registered Users 2 Posts: 2,339 ✭✭✭The One Doctor


    GDAX, mainly because it has no maker's fees. No leverage involved.


  • Registered Users, Registered Users 2 Posts: 12,654 ✭✭✭✭machiavellianme


    Day trading is a risky game. There are bots making money from it but very few traders. You might get lucky in times of high volatility, but you can always get unlucky too.
    I tried it earlier this summer on ETH and got stung up near the ATH. Even if it grew by 100 euro overnight I'd barely break even.
    When a crash happens, the value can fall almost instantly. Exchanges get overwhelmed and crash too leaving you locked out of your own coins until it has settled at some unpalatable floor when it's all too late. Try and set up some stop loss trades to cover yourself.


  • Registered Users, Registered Users 2 Posts: 1,226 ✭✭✭wally1990


    Check out 'thechartguys' on YouTube
    They are quite good and will help you understandTechnical analaysis and all chart reading in general that will assist with trading


  • Registered Users, Registered Users 2 Posts: 7,917 ✭✭✭Grumpypants


    I've found that you need to be lucky a lot to make money but only unlucky once to lose it.


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  • Registered Users, Registered Users 2 Posts: 2,210 ✭✭✭ZeroThreat


    I've found that you need to be lucky a lot to make money but only unlucky once to lose it.

    yeah, I only really have the nerve for hodling, and even that has it's risks in the volatile crypto world.

    Anyway, about 95% of traders lose in the long run, so unless you're an expert or really adept, best to pursue a long term investment strategy, at least IMO...


  • Registered Users Posts: 4 freesheep


    Day trading is extremely risky.

    How did it go for you so far? Already in red? :angel:


  • Registered Users, Registered Users 2 Posts: 3,001 ✭✭✭KilOit


    I don't focus on day trading but I buy a coin really low that has good fundamentals and active devs and sell it in increments with sell orders and just walk away, they mostly fill after a week or 2 then I repeat. If you expect to buy a coin that's up 20% or so that day and sell it same day it's really risky

    I got lucky with Neo, omg and walten, buying them at a fraction of what they are now but I got burned by qtum and tenx so it somewhat evens out.

    Buying and holding is generally the best and doesn't require constant surveying the market.

    If your focusing on gdax don't fomo into buying your ETH and ltc at higher price that you sold, don't sell it all at once either


  • Registered Users, Registered Users 2 Posts: 2,339 ✭✭✭The One Doctor


    KilOit wrote: »
    I don't focus on day trading but I buy a coin really low that has good fundamentals and active devs and sell it in increments with sell orders and just walk away, they mostly fill after a week or 2 then I repeat. If you expect to buy a coin that's up 20% or so that day and sell it same day it's really risky

    I got lucky with Neo, omg and walten, buying them at a fraction of what they are now but I got burned by qtum and tenx so it somewhat evens out.

    Buying and holding is generally the best and doesn't require constant surveying the market.

    If your focusing on gdax don't fomo into buying your ETH and ltc at higher price that you sold, don't sell it all at once either

    Good advice, thanks.

    I suppose I'm not really day trading as I'm not relying on the price climbing the same day. For instance, last night I thought ETH would move quite a bit based in my newbie chart skills, but I didn't know what way it would go so I didn't buy in. Turns out it went up €12, which would have given me a nice profit, but I'm glad I didn't as it's near ATH, too risky.

    So I'm up €380 for the week, but have learned caution. ETH will come back down soon enough for another try. I have a buy order in at €255 though.


  • Registered Users, Registered Users 2 Posts: 2,339 ✭✭✭The One Doctor


    A boring update:

    I haven't found any opportunities to do quick trades over the last few days. ETH and LTC spiked today and are heading back down. Swapped my ETH 255 buy limit order for an LTC 51.50 buy limit order (more profit for the same exposure). Again, my newbie chart reading suggests that LTC will back down to €51 or less as it really can't stand the heady excitement of €56 whole euro.

    To those who day trade - do you prefer trading Alt/BTC pairs or crypto/fiat pairs?


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  • Registered Users, Registered Users 2 Posts: 512 ✭✭✭gavkm27


    A boring update:

    I haven't found any opportunities to do quick trades over the last few days. ETH and LTC spiked today and are heading back down. Swapped my ETH 255 buy limit order for an LTC 51.50 buy limit order (more profit for the same exposure). Again, my newbie chart reading suggests that LTC will back down to €51 or less as it really can't stand the heady excitement of €56 whole euro.

    To those who day trade - do you prefer trading Alt/BTC pairs or crypto/fiat pairs?
    I only trade BTC/ALT i don't care what my trades are worth in Fiat, all i care about is making more BTC


  • Registered Users, Registered Users 2 Posts: 2,339 ✭✭✭The One Doctor


    Well thanks to a moment of of stupidity I lost half my weekly profit by breaking my own rules. Still up €180 though.


  • Registered Users, Registered Users 2 Posts: 2,339 ✭✭✭The One Doctor


    Anyone else doing this at the moment? Difficult to judge where to get into positions right now.

    Made a few euro on the back of BTC and LTC jumps but looking at ETH if it drops below €286.


  • Registered Users, Registered Users 2 Posts: 1,561 ✭✭✭rickyjb


    Not doing any day trading but all of my intermittent attempts at buying low/selling high have ended in me not making as much profit as I would have if I'd just "hled". Particularly the big jump up above 7k usd about a month ago, I'd taken my eye off the ball and a sell order triggered at a much lower amount. Missed a lot of profit...
    Now I'm just trying to add as much to BTC/ETH/XRP as I can and taking the long view. Though I was very sorely tempted to dump my XRP when it spiked briefly after the Amex announcement, I was pretty sure it was gona drop again. If it continued to soar I'd be kicking myself though.
    As a general rule unless you can sit looking at the markets all day every day, and if you have a reasonable amount invested I think holding is the best policy.


  • Registered Users, Registered Users 2 Posts: 2,210 ✭✭✭ZeroThreat


    I'm just into medium/long term holding personally, since most novice traders lose in the long run. It's a small group of the veteran experienced market traders who actually gain from that generally.

    Day trading also would bring my crypto activities into the sphere of income taxes, and I don't really want to be handing over - 52% (I think) of my profits to Pascal....


  • Registered Users, Registered Users 2 Posts: 2,339 ✭✭✭The One Doctor


    ZeroThreat wrote: »
    I'm just into medium/long term holding personally, since most novice traders lose in the long run. It's a small group of the veteran experienced market traders who actually gain from that generally

    Generally, yes. However, I trade when the market dips. FOMO trading kills daytraders, especially at ATH. I've been caught out once. Never again. I make a small, steady amount with the big three (BTC, LTC and ETH). So far my max profit on one trade was €400, but that was unusual. On average I get €65 per trade after fees, with maybe 3 trades per week.

    I'm sure €200 odd per week is peanuts to you guys, but it's an interesting and profitable hobby. I have lots of time on my hands right now and this is a good way of using it. I don't recommend it to people with full time jobs.

    For instance, today things are either flat or going slowly up. No dips to trade off. I have alerts set to let me know when things get interesting. I've been tempted to FOMO in LTC but just as I was considering it, the price began dropping. That would have lost me money. I've only got €5k on the exchange so can't take advantage of less than €1 LTC movements.

    All in all it's an interesting hobby that pays better than watching YouTube videos!


  • Registered Users, Registered Users 2 Posts: 2,210 ✭✭✭ZeroThreat


    Generally, yes. However, I trade when the market dips. FOMO trading kills daytraders, especially at ATH. I've been caught out once. Never again. I make a small, steady amount with the big three (BTC, LTC and ETH). So far my max profit on one trade was €400, but that was unusual. On average I get €65 per trade after fees, with maybe 3 trades per week.

    I'm sure €200 odd per week is peanuts to you guys, but it's an interesting and profitable hobby. I have lots of time on my hands right now and this is a good way of using it. I don't recommend it to people with full time jobs.

    For instance, today things are either flat or going slowly up. No dips to trade off. I have alerts set to let me know when things get interesting. I've been tempted to FOMO in LTC but just as I was considering it, the price began dropping. That would have lost me money. I've only got €5k on the exchange so can't take advantage of less than €1 LTC movements.

    All in all it's an interesting hobby that pays better than watching YouTube videos!

    200 a week isn't peanuts to someone who only makes just slightly below the upper single band for the 20% tax rate ;)

    Maybe all the others here are gordon geckos however....


  • Registered Users Posts: 60 ✭✭covfefe


    Over how long have you been making €200 per week? If it's only been a few weeks that isn't enough to say that it can be done consistently but that's good results so far, if this is over a long period of time they're very good results.

    I've looked into day trading in the past but I think it's pretty close to gambling, everyone is looking at the same buy and sell signals so lots of people tend to for example sell together, the price goes down and they all think they've cracked it.

    But then the market can turn around and surprise everyone and you then see liquidations. It's little more that a coin flip from what I can see.

    I do think there is money to be made from bots and experienced traders, but it's not for me, I just hold.


  • Registered Users, Registered Users 2 Posts: 2,339 ✭✭✭The One Doctor


    covfefe wrote: »
    Over how long have you been making €200 per week? If it's only been a few weeks that isn't enough to say that it can be done consistently but that's good results so far, if this is over a long period of time they're very good results.

    I've looked into day trading in the past but I think it's pretty close to gambling, everyone is looking at the same buy and sell signals so lots of people tend to for example sell together, the price goes down and they all think they've cracked it.

    But then the market can turn around and surprise everyone and you then see liquidations. It's little more that a coin flip from what I can see.

    I do think there is money to be made from bots and experienced traders, but it's not for me, I just hold.

    I've been doing this for two weeks. Not long and I have far from cracked it. I learn every day. This morning ETH was at 303 and now it's at 312. I would have made €150. Should I have bought? Maybe, but I lose nothing by waiting. I'm in no hurry. I understand the reticence towards day trading cryptos and it's not for everyone.

    On another note:

    HODLing is not a strategy, it's a belief. It's only a strategy if you have a predetermined exit point. It's going to badly affect mass crypto payment adoption. Would you buy a laptop with €400 if you and everyone else believed that it would become €800 in three months? No, no-one would. Bitcoin will probably remain a wealth store for a while, but the hodlers will kill it eventually.


  • Registered Users, Registered Users 2 Posts: 1,259 ✭✭✭alb


    It's going to badly affect mass crypto payment adoption. Would you buy a laptop with €400 if you and everyone else believed that it would become €800 in three months? No, no-one would.

    This is a bad argument, it's the same as saying would you buy a laptop for €800 this year if you knew it would be €400 next year? Consumer electronics frequently reduce in value a year later, and yet people buy them in droves, People even pre-order video games at full price, when they'll be half that in a year.

    It's effectively the arguments that people prioritise having extra money over goods in all scenarios, and that bitcoin will become worth so much that it will fail, which are both poor arguments imho.


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  • Registered Users, Registered Users 2 Posts: 2,339 ✭✭✭The One Doctor


    alb wrote: »
    This is a bad argument, it's the same as saying would you buy a laptop for €800 this year if you knew it would be €400 next year? Consumer electronics frequently reduce in value a year later, and yet people buy them in droves, People even pre-order opvideo games at full price, when they'll be half that in a year.

    It's effectively the arguments that people prioritise having extra money over goods in all scenarios, and that bitcoin will become worth so much that it will fail, which are both poor arguments imho.

    I admit it was a bad example. What I'm getting at is that when you consider paying with something that is rapidly increasing in value you will second guess yourself far more often then if you just used a standard fiat currency. That makes it harder to part with your crypto. Mass adoption needs a crypto currency that has a constant value and good transaction speed, like Litecoin or whatever.

    I am not arguing that bitcoin will fail because it's worth so much, I'm saying that it will eventually stop being used at all simply because people are too scared to spend it. It'll be like using part of your house deeds to pay for a bottle of wine.


  • Registered Users, Registered Users 2 Posts: 1,259 ✭✭✭alb


    Yeah, it's basically Gresham's Law: https://en.wikipedia.org/wiki/Gresham%27s_law

    It encourages people to not spend so frivolously and not to go into debt. It's a counter to needless consumerism, which might not be a bad thing.

    I think many of the kinds of people into bitcoin, and on this investment forum in general, are already conscious of investing money to have more value later instead of spending it immediately anyway.


  • Registered Users, Registered Users 2 Posts: 2,339 ✭✭✭The One Doctor


    Nice little drop at 5am. Luckily I was up with my daughter and was able to take advantage. Thank feck for price alerts.


  • Registered Users, Registered Users 2 Posts: 2,339 ✭✭✭The One Doctor


    Got a nice bit from that drop. Just barely had my sell limit matched for my LTC (took ten hours) but got there in the end. I'm learning lots about patience and self restraint.


  • Registered Users, Registered Users 2 Posts: 65,707 ✭✭✭✭unkel
    Chauffe, Marcel, chauffe!


    Nice little drop at 5am. Luckily I was up with my daughter and was able to take advantage. Thank feck for price alerts.


    Your little girl might make you a bit of money so. I find ETH tends to drop heavily around 4-5AM, only to pick up again in the few hours after that.


  • Registered Users, Registered Users 2 Posts: 2,339 ✭✭✭The One Doctor


    unkel wrote: »
    Your little girl might make you a bit of money so. I find ETH tends to drop heavily around 4-5AM, only to pick up again in the few hours after that.

    Yeah I've noticed that too! ETH just dropped €5 in the last hour. Still falling.


  • Registered Users, Registered Users 2 Posts: 2,452 ✭✭✭garrettod


    Hi,

    Just wondering, has anyone looked into the possibility of spread betting some of the cryptos rather than actually purchasing them ?

    If so, what sites are providing this service please ?

    I've been tempted to get into this a little for a while now, reckon that if I went the spread betting route then I remove the risk of fraud which occasionally pops up in the cryptos, along with the extra effort needed to get set up to hold cryptos.

    Many thanks.

    Thanks,

    G.



  • Registered Users, Registered Users 2 Posts: 2,339 ✭✭✭The One Doctor


    garrettod wrote: »
    Hi,

    Just wondering, has anyone looked into the possibility of spread betting some of the cryptos rather than actually purchasing them ?

    If so, what sites are providing this service please ?

    I've been tempted to get into this a little for a while now, reckon that if I went the spread betting route then I remove the risk of fraud which occasionally pops up in the cryptos, along with the extra effort needed to get set up to hold cryptos.

    Many thanks.

    What risks are you concerned about? ICOs? Wallet issues? If you are considering day trading, spread betting is a higher level of risk, however if you have experience with SB the that risk would be mitigated to some extent. I have no special experience with SB, but i strongly suggest doing plenty of research first. Cryptocurrency fraud issues usually relate to wallet scams, ICOs or new coins. I only stick to trading well established coins such as BTC, ETH and LTC.


  • Registered Users, Registered Users 2 Posts: 2,452 ✭✭✭garrettod


    Hi,

    Yes, risks relating to wallets etc. There is also still a level of uncertainty with regards to overall security for the cypto's despite all that has been discovered to date, that's removed if you don't physically invest in the crypto also. Then there's the logistics, it's probably faster to spread bet than actually buy a crypto, particularly if you don't have accounts already set up.

    Would be interested to hear if anyone is actually using spread betting at present, needless to say :)

    Thanks,

    G.



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  • Registered Users, Registered Users 2 Posts: 2,339 ✭✭✭The One Doctor


    Week 2 update:

    Up €345 last week, lost €43 to following the charts too closely (was looking at the 1 and 5 minute charts). Learnt some more lessons about getting in and out at the right time. Up €77 so far this week.

    Being confident enough in my buy decisions is the main thing holding me back right now. Better safe than sorry though.


  • Registered Users, Registered Users 2 Posts: 65,707 ✭✭✭✭unkel
    Chauffe, Marcel, chauffe!


    Up €345 last week, lost €43 to following the charts too closely (was looking at the 1 and 5 minute charts). Learnt some more lessons about getting in and out at the right time. Up €77 so far this week.

    I'm glad you're in the black :)

    But to be fair those figures don't mean anything when we don't know how much money your are playing with.


  • Registered Users, Registered Users 2 Posts: 2,339 ✭✭✭The One Doctor


    unkel wrote: »
    I'm glad you're in the black :)

    But to be fair those figures don't mean anything when we don't know how much money your are playing with.

    That's more information then I'd be comfortable giving out as people I know in the real world know I post here.

    Actually, mods can you please delete this thread? I've been an idiot talking about this stuff on a public forum.


  • Registered Users, Registered Users 2 Posts: 65,707 ✭✭✭✭unkel
    Chauffe, Marcel, chauffe!


    r0_0_738_415_w1200_h678_fmax.jpg

    That's the reality of life with social media. I wouldn't worry about it. There's me with tens of thousands of posts on boards. A psychologist digging through all of them would get to know me better than I know myself :p

    And anyway, if you're playing with a 4 figure sum and making a 2 or 3 figure profit each week, you're doing very well. Many times better than sticking it in a stock tracking fund. Never mind it sitting in a bank account on deposit making you 0.1% per year...


  • Registered Users, Registered Users 2 Posts: 6,026 ✭✭✭grindle


    unkel wrote: »
    That's the reality of life with social media. I wouldn't worry about it. There's me with tens of thousands of posts on boards. A psychologist digging through all of them would get to know me better than I know myself :p

    What if someone he knows in real life who knows his pseud gets to have spite for him?
    ring ring

    "Oh, hey Revenue! Sooooo..."

    Deleting the thread could be a very good thing as he keeps trading into taxable events for CGT which he'll have to start keeping records for once he's over €1270 in profit.


  • Registered Users, Registered Users 2 Posts: 1,553 ✭✭✭Fiery mutant


    I’ve been day trading Cryto’s for a while now. Have money invested in Bitcoin itself, and also day trade on leverage on forex sites.

    It’s worth it if you can keep yourself from cracking up with the volatility. It’s something i’d Like to do full time, but the wife is not too keen. I guess the on,y advice I could give would be set yr stop losses, and your take profit positions, and don’t chase losses.

    We should defend our way of life to an extent that any attempt on it is crushed, so that any adversary will never make such an attempt in the future.



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  • Registered Users Posts: 713 ✭✭✭soirish


    KilOit wrote: »
    I don't focus on day trading but I buy a coin really low that has good fundamentals 
    Care to explain what you mean by good fundamentals? :)


  • Registered Users, Registered Users 2 Posts: 6,026 ✭✭✭grindle


    Something that has a reason to exist.

    Bitcoin: Ehh... Money go up? Lot's of devs working on it, it moves slowly but surely and is relatively secure because of that - newbs will always buy it and we're only just hitting the mainstream properly without the constant negativity, so I guess the value will climb as it has the biggest brand and it's one of the main entry points, so I guess more than just newbs should buy it.
    Monero: Privacy
    Ethereum: Smart contracts, enterprise use and interest and a huge dev base anchored by a bright mind like Vitalik.
    IOTA: the IoT gets larger every year and these guys aim to be the monetary lynchpin for microtransactions.

    When looking at any coin/token, ask if the business model is sound and then check to see if the token is actually necessary.
    Not necessary? No buy.


  • Closed Accounts Posts: 28 topgolfer101


    I’ve been day trading Cryto’s for a while now. Have money invested in Bitcoin itself, and also day trade on leverage on forex sites.

    It’s worth it if you can keep yourself from cracking up with the volatility. It’s something i’d Like to do full time, but the wife is not too keen. I guess the on,y advice I could give would be set yr stop losses, and your take profit positions, and don’t chase losses.

    I've been trading forex profitably for 3 years. I know what you mean with volatility but it's easily avoided with good entries, in the right direction. Setting stop loss is a must. But using your higher timeframes to set wider targets, it extends your reward. So your risk to reward ratio should be 1:4 for a decent trade. Taking 2 or 3 trades a week, risking 2% on each, you will win 2/3 definitely if you analyse right so 10% a week is a reasonable target. But if you like day trading that can go way higher

    my number is [snipped] , message me on whatsapp/telegram or by text but no calls please. If you want to talk further or learn how to trade I can teach you


  • Closed Accounts Posts: 269 ✭✭99 Bortles of Beer


    Going to have lots of fun with that phone number.

    Me thinks some highly paid cleaning jobs with a generous hourly rate and no references required in London are about to be listed on Gumtree.


  • Closed Accounts Posts: 28 topgolfer101


    Going to have lots of fun with that phone number.

    Me thinks some highly paid cleaning jobs with a generous hourly rate and no references required in London are about to be listed on Gumtree.
    Don't worry I have multiple phones mate. Sad to see you lurking on boards instead of doing something productive and researching what I say. But nice try friend, good luck with a couple grand on the alt coins, life changing !


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  • Registered Users Posts: 8,239 ✭✭✭Pussyhands


    Anyone have tips on how to daytrade? How does one take advantage of these high rises and falls?


  • Registered Users, Registered Users 2 Posts: 2,649 ✭✭✭Whelo79


    Pussyhands wrote: »
    Anyone have tips on how to daytrade? How does one take advantage of these high rises and falls?

    Stop jumping in and out of coins pal. You are getting burnt nearly every time. People advise to hold for a reason. When you have bought into a solid project that has a long term positive trajectory, just stick with it through the ups and downs. You'll come out on top in the end.


  • Registered Users, Registered Users 2 Posts: 16,931 ✭✭✭✭banie01


    Pussyhands wrote: »
    Anyone have tips on how to daytrade? How does one take advantage of these high rises and falls?
    Whelo79 wrote: »
    Stop jumping in and out of coins pal. You are getting burnt nearly every time. People advise to hold for a reason. When you have bought into a solid project that has a long term positive trajectory, just stick with it through the ups and downs. You'll come out on top in the end.

    +1 on what Whelo has said.
    You have been burnt, and now you seem to be chasing a profit to break even.
    In day trading there really are only 2 sure fire ways to make worthwhile profits.
    1. A large bank roll so that minor variations are actually profitable. This can also be achieved by leverage, but I'd advise you to never trade on leverage as losses will quickly outstrip gains unless you have plenty of 2!

    2, Knowledge and confidence! Be it a tip, intuition insider knowledge or analysis. A source that you have confidence in trusting, be it your judgement ot someone elses.
    Without this, you are basically just spinning a wheel.
    With just a little of this, you run the risk of fooling yourself into thinking you have a workable system to veat the market and noone has that!
    With enough, you can analyse and take a position that may make you a profit.

    I have made money on day trading through both arbitrage and analysis.
    I gave up day trading crypto as no matter how I frame my analysis there is no actual consistently predictive trends.

    Look the advice always given is only invest what you cn afford to lose.
    I'm of the opinion noone can really afford to lose, given the apparent naivete of your posts/investment knowledge.
    My advice would be to
    1. Realize that until you sell, you have not lost anything. There is no loss intil you crystalize it. As it stands you have a potential loss.
    Based on that, you can either
    1.Hold and await rises to lift you past your initial investment.and at least break even, then either grow your knowledge and become more comfortable with crypto risks or cash out and find an investment that suits your risk appetite.
    Or 2. Cash out now and take the loss.


  • Moderators, Society & Culture Moderators Posts: 15,776 Mod ✭✭✭✭smacl


    Pussyhands wrote: »
    Anyone have tips on how to daytrade? How does one take advantage of these high rises and falls?

    In addition to the very solid advice already given, my approach is start by playing small. Have a look at what you think will make money, make a prediction, put a small amount on it, and see how the outcome matches your prediction. Basically, go through the learning curve on money that is neither here nor there and only play with bigger sums when you have some degree of confidence that you've got your game down. I lost a bit starting out, made a bit the last couple of weeks, and am arriving at the conclusion that I'm reasonably crap at this game and won't being putting any big money into it any time soon. I enjoy the game at the same time, so will continue to play small and win or lose.


  • Registered Users Posts: 441 ✭✭hogandrew


    Pussyhands wrote: »
    Anyone have tips on how to daytrade? How does one take advantage of these high rises and falls?

    If you can see a big event for a coin coming up there's a good chance you can make a decent profit. If you look a litecoin or VeChain they both have events coming up on Monday. They have both went well for a few weeks leading up to it. I think monero has a fork on the 14th of march, funfair is launching it's first casino and tron has a mainnet scheduled for end of march. These events seem to increase the value of coins but then they drop just before the start of the event from what I've seen. I aim for about 10-15% increase in ETH and set a sell for this. This is what has worked best for me but only as fun, not with a large amount of money and there's loads of ways it can go bad. I also try to set a buy a few % lower than the coin is valued in the hope that bitcoin drops, usually causing ALTs to drop. It gives a little buffer to avoid loosing on coins


  • Registered Users Posts: 1,573 ✭✭✭WhiteMemento9


    hogandrew wrote: »
    If you can see a big event for a coin coming up there's a good chance you can make a decent profit. If you look a litecoin or VeChain they both have events coming up on Monday. They have both went well for a few weeks leading up to it. I think monero has a fork on the 14th of march, funfair is launching it's first casino and tron has a mainnet scheduled for end of march. These events seem to increase the value of coins but then they drop just before the start of the event from what I've seen. I aim for about 10-15% increase in ETH and set a sell for this. This is what has worked best for me but only as fun, not with a large amount of money and there's loads of ways it can go bad. I also try to set a buy a few % lower than the coin is valued in the hope that bitcoin drops, usually causing ALTs to drop. It gives a little buffer to avoid loosing on coins

    Nice shout on FunFair.


  • Registered Users Posts: 441 ✭✭hogandrew


    Nice shout on FunFair.

    To be honest I think that was just a little bit of an over correction on it's price relative to bitcoin. I'm hoping it falls a good bit. I've about 75-80% of my holdings in monero which has been gradually rising. I bought it a little over a week ago at 0.3205 ETH and it's sitting at about 0.4 at the moment after falling back a little so I'm hoping it could make a similar profit before the 14th and get in on funfair and/or tron then.

    I think funfair is safer but tron will have better chance for really large returns. I wouldn't be surprised if it hit 10 cent or higher before the end of the month if their mainnet goes ahead and bitcoin stays the same/improves but I haven't been following any news on it lately


  • Registered Users Posts: 1,573 ✭✭✭WhiteMemento9


    To be honest I was happy to take 20% gain off FunFair and run. I wasn't really looking at it as a hold but just a quick way to make a few quid. I may look to buy back some if it corrects down.

    I am already an XMR holder. I didn't buy anymore ahead of the fork because it looks like a complete scam so I didn't really know what to make of the situation. The market though has reacted positively.


  • Registered Users Posts: 441 ✭✭hogandrew


    To be honest I was happy to take 20% gain off FunFair and run. I wasn't really looking at it as a hold but just a quick way to make a few quid. I may look to buy back some if it corrects down.

    I am already an XMR holder. I didn't buy anymore ahead of the fork because it looks like a complete scam so I didn't really know what to make of the situation. The market though has reacted positively.

    Nice profit, fair play. Ye I don't understand why the fork drives up the market at all


  • Registered Users Posts: 1,573 ✭✭✭WhiteMemento9


    hogandrew wrote: »
    Nice profit, fair play. Ye I don't understand why the fork drives up the market at all

    I think overall it is an excellent strategy. How are you keeping up to date with upcoming events. Reddit forums, twiiter?

    I found this guy who seems to do a decent run down of upcoming events.



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