Quote from: manifo1d on July 31, 2017, 03:10:45 PM

That's my current strategy right now.

Buying any coin on a steep decline and selling once the price tries to balance.

What do you guys think?

Of course that's insanely risky. We are well over 800 coins now (not to mention all the eth tokens). Assuming that 75% of those are garbage coins, you'll be spreading yourself pretty thin over 600 coins hoping to hit a winner. But lets imagine you did this. How do you decide when to sell and take your winnings? People get all excited when they see things like chaincoin rise 5,900%. I've heard people say "well if you put $200 into chaincoin before it pumped to $6, you would have had $12k." But imagine you actually did put $200 into chain coin when it was $.10. You see it double, do you sell? 2x is great. Now its 10x, do you sell? That's a 900% gain, more than anyone could hope for. 20x, 30x, 40x, 50x, 60x it just keeps going up you can't sell and miss out on these gains. And then within days you're back down to 6x and probably only going down from here.

It's easy to look back and say "Well only a couple bucks in this shit coin woulda been a ton at the peak." But in reality, it's impossible to tell where the peak is going to be. Overall, you'd be lucky to break even just trying to shotgun shitcoins. Even if you did make a bit of gains, it would probably still be much less than the gains from a simple strategy like holding the top 10 coins.

FiniteKez

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