Quote from: pooya87 on September 29, 2024, 01:24:50 PM

Quote from: Taskford on September 29, 2024, 11:22:21 AM

Quote from: pooya87 on September 29, 2024, 06:20:45 AM

Quote from: Ekanayake90 on September 27, 2024, 07:31:50 AM

So you're not invested in altcoins at all?

Invest as in "buy and hold", no I have never done that.
The only thing I have ever done with altcoins has been trading them. All short term because I try to avoid the risks involved with the pump and dump market.

This is what I usually do with altcoins to I trade them since its hard to trust those asset since we are not really so sure if they are reliable and won't do any rug pull schemes. I only do that buy and hold Bitcoin since its proven and tested that whatever happen to the market this coin will remain running strong. Some got hype for the idea that those altcoins will also go the same and hit big figures the same with bitcoin, but to many things needed to watch or consider before it happen since there's huge chance that those altcoins will go scam first before it reach to same like bitcoin level.

So much better if they do nice decision and sell those altcoin when they are gaining profits. Waiting posses huge risk since if they play cool around with it there's instances that they might lose their hard earned money with it.

Yeah. Another reason why I have used this strategy in my trades is to maximize profitability.

You can go to your favorite exchange or one of those coin listing websites like coinmarketcap and sort their list based on 24 hour change %. Do that every day for a certain period of time and you will notice that each day a different shitcoin is pumped. Today it is X pumping 300%, tomorrow it will be Y pumping 300% and the next day will be Z pumping 300%. If you buy and bag hold X you will miss on 600% additional profit and if X gets dumped you lose money on that as well.
So it is best to ride the 300% pump of X today, then dump it and move to Y the next day to ride that 300% pump and do the same with Z and end up making 900% profit!

Of course I should clarify that 300% is just an example. Not all pumps are that big and you won't be able to earn the maximum profit from each pump and you may lose money in one of the steps but that's pretty much the strategy that is superior to bag holding and hoping for a rise in long run, in my opinion.

Thats a good trading strategy but chasing green candles can be risky