I threw ~$100 into the 10 highest gainer coins on binance (not sure what the time pera mete was).
Anyway after doing this, the value has fluctuated between ~8-12mbtc, is this a good way to get a feel for the market and use as a fairly stable investment or did I just get lucky. This would obviously be done for a short term and you'd only ever put in when it reached the 8mbtc mark again (or at least sub 9).
I'm wondering if I ended up getting lucky on this or whether it will actually function as an investment idea, these coins seem pretty stable short term and don't seem to move by much? I knowforex sites list the biggest gainers and losers but I'm not sure if that's just a plot to say you can earn 3% in a day...
This is considered a short-term strategy and I have done the same for the Huobi Exchange. When two exchanges are trying to pump coins to prove their financial ability and credibility, it's a good time to buy lots of coins and hold for 1-2 weeks.
at huobi, their pump coin every night, and knowing the rules, I set a profit margin of 17% per coin and almost sold all the coins at a high price.
I will repeat, it is a short-term strategy and investment diversification is also a bad thing for a new trader.