Interesting idea, share your results with us.
For better consistency of your trading routine you will probably need to set a certain time when you evaluate the biggest negative 24hr % and put your buy order. Furthermore, consider some "plan B" for exiting from your positions. You may miss profit because some coin will perform slightly worse than all other but it could still make you x times of your buy price.
I will check the prices the first thing I wake up in the morning. But I can't say for certain when exactly. Sometimes I wake up at 6am, sometimes 7 or 8am. I could check the prices on that certain time but I would like to make it as "real life" as possible and most people do not religiously do something the exact time every day.
I think an exit strategy could be applied and is very likely profitable, you could try it in your setup but for now I would like to try a extreme contrarian approach. The only exit is when the coin reaches the highest 24hr % returns for all alts. Risk are mitigated by adding small positions per day which will result in holding various coins. Anyway, day 3 results are below, RDN went bananas on the 2nd day and became the largest % returns for all alts on 2nd day after being the biggest loser on the 1st, therefore I sold all RDN to tether as per my strategy and would add in to my $100 daily investment spread across the next 30 days. Right now results are very impressive, although its mostly due to RDN going crazy. GoChain profited a few dollars.
Day 3:
DATE CAPITAL INVESTED/EARNED COIN AMT BOUGHT AMT SOLD
12th Sep -$100 RDN 270.74
13th Sep -$100 GO 2195.43
13th Sep $142.75 RDN 270.74
14th Sep -$104.75 GO 2457.42
HOLDINGS
GO 4652.85
TETHER $138.00 (-$4.75 reinvested in GO)
TOTAL CAPITAL INVESTED $300
CURRENT VALUE $341.97
Btw, if you like my strategy and updates, if possible do spare me some BTCs, even few dollars would be good:
BTC: 15ZHGBtE6V9r28HT1nFnoPfsB8UspsM6Di