Cryptocurrency

[FrontEnder]

How is everyone (who is day trading) deciding what to go into on a certain day?
I try and look at hourly volume winners and then see if they've topped out on price before deciding whether to put some cash in.
I was thinking about buying the pro plan for coindera to get %age rise alerts so I can quickly see if something is shooting up

I've started looking at volume more. I used the free trial of coinigy and that worked well. It's not that expensive, but don't think I can justify the cost just yet.

I don't really do any analysis. I think it's mostly nonsense, tbh. Maybe people who come from a traditional trading background and have plenty of experience are worth listening to, but for most it's an exercise in confirmation bias. You forget about the bad ones and remember the good ones and tell yourself that it was because of your expert analysis. The reality is it's a bull market and the chances of picking something that goes up significantly are already high.

My strategy is just to buy one or 2 positions each day and see how they go. If I don't see a rise within an hour or 2 or if it drops something like 5% quickly I'll cut my losses. If it goes up I'll let it roll and see what happens. I was just watching it them, but from now on I'm going to set stop orders to trigger at a 10% below current price to sell at 20% below.

I've missed out on some (litecoin bought at 112 and sold at just over 100) and have a few small losses, but the gainers have more than made up for that. Just cashed in a 90% rise in ripple. Although I've now doubled down on it with BTC I have on another exchange

[VirtualMonkey]

I've started looking at volume more. I used the free trial of coinigy and that worked well. It's not that expensive, but don't think I can justify the cost just yet.

I don't really do any analysis. I think it's mostly nonsense, tbh. Maybe people who come from a traditional trading background and have plenty of experience are worth listening to, but for most it's an exercise in confirmation bias. You forget about the bad ones and remember the good ones and tell yourself that it was because of your expert analysis. The reality is it's a bull market and the chances of picking something that goes up significantly are already high.

My strategy is just to buy one or 2 positions each day and see how they go. If I don't see a rise within an hour or 2 or if it drops something like 5% quickly I'll cut my losses. If it goes up I'll let it roll and see what happens. I was just watching it them, but from now on I'm going to set stop orders to trigger at a 10% below current price to sell at 20% below.

I've missed out on some (litecoin bought at 112 and sold at just over 100) and have a few small losses, but the gainers have more than made up for that. Just cashed in a 90% rise in ripple. Although I've now doubled down on it with BTC I have on another exchange

Good going
I'm just trying to catch early signals of a pump. There must be a way.
My stash is a bit small to be constantly changing in and out all the time. When it hits $20k (nealry 10x original stake) I'll withdraw my original stake and spread out a few more long term investments

[ChimpMaster]

BTC GBP is £13120 to buy on GDAX (£13176 on Coinbase!) but there's someone selling on Bisq at £12850.

Why the difference?

Why not just buy from Bisq and sell immediately on GDAX?

[scooterscot]

My strategy is just to buy one or 2 positions each day and see how they go. If I don't see a rise within an hour or 2 or if it drops something like 5% quickly I'll cut my losses. If it goes up I'll let it roll and see what happens. I was just watching it them, but from now on I'm going to set stop orders to trigger at a 10% below current price to sell at 20% below.

I fear you cut your losses so many times you'll have no money left. Day trading is very risky.

Better to buy the project / team IMO.

[VirtualMonkey]

This doesn't apply to me yet but hopefully it will soon.
For those who have large amounts in a particular ALT...is there a way you extract when you think the market is going to drop? When I'm looking at price rises (or falls) I look ahead and sometimes see large amounts at a particular price point. When this is hit it can have the effect of slowing the price rise and giving chance for the market sell price to catch up and possibly reverse the rise...which is the opposite of what you'd want to happen.
Do you sell out in smaller chunks or just put it all in to go at a single price?

[FrontEnder]

BTC GBP is £13120 to buy on GDAX (£13176 on Coinbase!) but there's someone selling on Bisq at £12850.

Why the difference?

Why not just buy from Bisq and sell immediately on GDAX?

Transfer would take a while to go through, so there's a risk you'll lose out if the price moves. There will also be a buy/sell spread on the exchange.

There's always a difference in prices on different markets/outlets. Like buying foreign currency at different places.

[scooterscot]

This doesn't apply to me yet but hopefully it will soon.
For those who have large amounts in a particular ALT...is there a way you extract when you think the market is going to drop? When I'm looking at price rises (or falls) I look ahead and sometimes see large amounts at a particular price point. When this is hit it can have the effect of slowing the price rise and giving chance for the market sell price to catch up and possibly reverse the rise...which is the opposite of what you'd want to happen.
Do you sell out in smaller chunks or just put it all in to go at a single price?

Bitcoin dictates everything. If there's a hint that's going into a slump, I'll sell ALT's not paired with dollars.

There's serious money to be made on the BTC/ Alt coin pairs. To take full advantage you need look only at the history to see of there is an opportunity to accumulate coins during the next bitcoin slump, whenever that is.

[ChimpMaster]

GDAX looks like a really good platform.

Nice visibility of buy/sell orderbook. Looks like BTC is about to pump again if I'm reading the orderbook chart correctly.

[Jog On]

Bitcoin dictates everything. If there's a hint that's going into a slump, I'll sell ALT's not paired with dollars.

There's serious money to be made on the BTC/ Alt coin pairs. To take full advantage you need look only at the history to see of there is an opportunity to accumulate coins during the next bitcoin slump, whenever that is.

This is my main strategy for alts now. Got about 25% of portfolio on Bittrex in a bunch of alts that are all green vs GBP but red vs BTC. I want them to increase vs BTC then cash them out and send BTCs to the HODL wallet with the target of 'completing the next whole BTC coin' and building a collection of BTCs, also add to ETH/LTC over time.

Total portfolio is now around 1.6 BTC with about 0.35 sitting on Bittrex. Could probably do with a bit more for alt pumping and dumping so will add FIAT to it as I go along as well as adding FIAT to the HODL coins. I'm also thinking of Hodling XLM, DASH and XRP for longer term as well.

Just saw I can fund a bittrex USDT wallet with FIAT...

[ChimpMaster]

Coinbase and GDAX are pretty much the same thing. You can log in with the same user and transfer funds immediately etc.

But BTC is cheaper to buy on GDAX. As in the rate is better. Right now £13100 on CB and £13048 on GDAX.


Bit odd that.