I will start a new article series talking about my cryptocurrency trading thoughts and experiences. As most of you know, a part of my portfolio consists of actively traded altcoins, that I buy for mid or longterm. I have been talking about money a lot in my past articles, and lately I have been more into politics and philosophy, but I haven't talked about altcoin trading that much, so in this series we will do that.
Of course my goal is to generate a lot of wealth from this, and to basically become very rich, and I have a lot of experience in trading anyways, so now you can perhaps see how I do things. So let's make some money.
Teaser
As for a teaser just check out my old Monero trade, I made a fortune on that one, +247.6197% profit in just a few days, and others:
Some guys were asking in the comments, when I will call another big one. But the truth is that there haven't been many other good opportunities since Monero. I have called the crap on Zcash, and on Synereo:
- https://steemit.com/money/@profitgenerator/z-cash-is-probably-a-scam
- https://steemit.com/steemit/@profitgenerator/why-i-am-not-buying-amp
So those could have probably been shorted, but I try to avoid CFD's, I like to trade in OTC mode, raw coins. But other than these, I didn't know good opportunities, until now, where I have discovered a few undervalued altcoins past week.
I have already been buying into them, and I will reveal them in EPISODE 2 of this series, but I have not yet scaled in all my orders, so it will probably take 1-2 more days, but don't worry the trade is longterm, so there is plenty of time to buy in.
Trading Method
Well I obviously won't reveal my trading strategy, but as a general rule, I use a mixture of market analysis, compared with quant analysis, and together with the analysis of the coin itself and the community, to get a feeling on each coin.
I only buy top coins, possibly in the top 50, sorted by $ marketcap. I don't bother with lower coins, because they are impossible to predict (pump & dump schemes), plus most of the time they are scams. So I prefer to trade established coins.
I also like to trade coins that have a limited inflation, and a fixed final coin supply. I also like to buy low, and sell high, you will be amazed by my timing.
I actually trade with my own money, so this is real, live trading, no demo accounts, no virtual accounts. So if I buy 1000$ worth of an altcoin and the price goes up 1000x, I make 1 million $, right before your eyes.
The duration of my trades will vary, but usually it's more than 1 week, so anywhere from 1 week to 4-5 months. Although I prefer to resolve the trades in less than 1 month if the market doesn't move sufficiently.
My risk % will also vary, depending on how confident I am in that trade, and how much volatility that coin has. If there is a lot of upward potential, then I risk more, if there is less upward potential, then I risk less. As simple as that.
My Radar
I have already bought some coins, that I will reveal in the next episode, because I am not scaled in entirely yet. However I also have new coins on my radar that I haven't bought yet, because I don't think their price is good enough yet, however I might buy them later if the conditions will be OK. One of the coins that is on my radar is: DASH
Website: https://www.dash.org
Current Price: 0.01400001 BTC
Current Volume: 171.850 BTC
Well DASH is a pretty well known cryptocurrency. It has popular libertarians involved in it, just check out the Youtube channel:
So no doubt reputable people are behind it. It has a very easy consensus and built in voting mechanism, that is superior to Bitcoin's. It can scale. It is faster than Bitcoin. And it has a lot of inherent value to it.
However the price is not quite right for me to buy yet. So I will have to wait a bit more, until it becomes cheaper. But it will definitely be a pick of mine, if this happens.
Source: https://www.dash.org/promotional-graphics
Disclaimer: The information provided on this page might be incorrect. I am not responsible if you lose money using the information on this page! This is not an investment advice, just my opinion and analysis for educational purposes.
Upvote, ReSteem & 
