Please guys help us newbies to start trading by not wasting time on bad method to determine profitable coins.
What is your best strategy to see if the coin will be profitable or not?
I am not telling that there are steps which guarantees if the coin will be profitable, but just asking what steps you using?
Simply choosing high volume altcoins will minimize most of your problems. All you need to check how many bitcoins were traded for one particular altcoin in last 24 hours. If it is greater than 25 bitcoins, the possibility of getting pumped and dumped is very low. Only with well established altcoins, it will be possible to have decent trading volume.
When you are finding those altcoins are not profitable for trading, it would be highly recommended to stay away from trading for that day. Because securing our capital will be more important than finding opportunities to make profits.