Isn't trading usually based on following the trend and not on hype speculations?
True , but hype is one of the trigger that could either increase or decrease the price of it, following the hype and execute your order on the right time could be a blessing if you are a daily trader. Basically good news regarding
BTC is a good hype for the price to increase , though we dont see any price moving up lately
Another example would be the news of KNCminer coins finally moving, I see the price deceasing after the news is leak . Hype ? Perhaps or people having the fear that the price might get alot more lower if they dump the coins
Also, lot of people try to influence the market with their suggestions, (in their favour) so you have to listen selectively, which can be hard.
Another way of hyping, this can be seen alot on btc-e trollbox. Basically that exchanger has a lot of trolls that will keep on typing buy or sell. They are doing it for their own purposes, getting someone that has no knowledge about whats going on to fullfill their order in the market
If there was a golden strategy, a lot of people would be rich by now. Fact is, strategies exist and work in certain situations. However there are a range of difficulties that separate theory and practice.
Indeed no, except the strategy of manipulating the market I guess. Strategies basically help you in reducing your chance to lose though
I have tried following a strategy out of the box, but it didn't work. Even though it should be working, based on maths etc. There is a lot of experimenting involved.
Dont, follow the trend unless you are whale that you cant got against the trend or either goes out of the box.