Recently I have been trying to come up with ways of making some money on the side and thinking of giving trading a go.
I have zero experience and have just been looking on Coinbase at the best and worst performers of the day.
I am thinking of buying coins that are 15% or more down and then selling once they pump 10% and move onto the next one that is 15% down and then again sell at 10% profit and just keep repeating.
Anyone done something similar or will it just lead me to losing my money?
its not a bad technique Im sure you wont be the first to try it whether you succeed or fail you wont be the first either so it worth the try if thats what your instincts tell you whatever the outcome it will be an experience you will learn from and if it doesnt suit you you will have to try another pattern. Trading is not an easy task and you should be ready for the worse especially when it comes to trading altcoins because they are not as reliable as trading Bitcoin.
for beginner traders, you really have to gain experience, which is what can make us successful. with your technique, then you have to think about if the price continues to fall, so you have to place a stop loss according to your analysis. on the other hand, be careful if you change coins that have decreased, because it is very risky, especially if it is a new coin, because extreme declines can occur in the blink of an eye, and will make us panic