Alternative Cryptocurrencies (General Discussion & Trading)

Sly21C said:
I couldn't take it anymore, I decided to sell at a market cap of over $2 bln. I'll buy again once a pull back has occurred. I hope I'm right and it doesn't go to $3 bln or something.
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Good decision, I think. Did you buy in under $10 originally ?
 
Which crypto would be the best to buy at the moment with about R8000? BTC or ETH?
 
The_Mowgs said:
Which crypto would be the best to buy at the moment with about R8000? BTC or ETH?
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Both, but for distribution percentages ask the others. Also consider your investment term. Always good to diversify and some of the upcoming altcoins can show good short term opportunities as well (and NEO for long term perhaps.)
 
The thing is the person that wants to buy it would not be able to buy one and then exchage for something else and then send to a wallet etc etc so I want to make it as easy as possible for them.

They are in the UK so I thought they could perhaps buy it through coinbase
 
The_Mowgs said:
The thing is the person that wants to buy it would not be able to buy one and then exchage for something else and then send to a wallet etc etc so I want to make it as easy as possible for them.

They are in the UK so I thought they could perhaps buy it through coinbase
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Then Bitcoin I suppose, just dangerous to leave it on the exchange though.
 
So who prefers Nicehashminer for Daggermento above using a command line utility and an eth pool ? At the moment I'm not sure if NHM is that much less profitable than other dedicated utilities.
 
My Bittrex Trading Bot Experience

So I decided to play around with trading on Bittrex this weekend. Since I'm a developer by trade, I thought I'd try my hand at creating a trading bot using their API. Needless to say I learnt a lot, and thought I'd share my experience:

  • Firstly, make sure you fully understand trading terms before doing any trading, such as Ask, Bid, Last, Spread and Volume. While I somewhat knew what each bit of information meant, it wasn't until I was trading (and losing money) did I fully understand their impact. There's plenty of resources since these are generic terms, so read up!
  • Pump and dumps are happening with varying volumes almost constantly. I saw noticeable shifts every 20 minutes or so on coins that otherwise aren't traded. Sometimes the same coin will continually be pumped/dumped for a day or two. I'd imagine the more "professional" players out there (ie. the ones triggering the pump/dump) will buy in slowly to not cause any real upward trending before talking it up, making it hard to track.
  • It's really difficult making money off pump and dumps unless you can track the upward trend early and price in your sell low. I know it sounds obvious, but even with a bot making the decisions, it sometimes wasn't quick enough before it fell. You either have to work in a stop-loss (which Bittrex doesn't natively support via its API), or gauge the current trading patterns and hope it will swing back up.
  • There's lots of bots competing against you, and it looks like some bots get pulled into pumps/dumps contributing to the spikes (mine was pulled in a couple of times at the wrong time until I made a number of tweaks).

Out of the 80 trades or so today that my bot did I've made a slight loss. That was really due to the initial trades I did, where I bought in at the wrong times, and had to sell them off at a loss. The trades it's being doing since about 2PM have all been at a profit, but really small percentages: 0.5 - 1.5% (after trade fees). Realistically, I think I'm going to fine tune the bot to focus on more stable coins with a slower upward trend. At least then if it starts sliding the other way, I can hodl until it bounces back, or sell it off at a small loss. It's a much slower and well, less exciting. The potential for higher earnings are obviously there with the small coins spiking all the time, but the risk is through the roof, and just one bad trade could wipe out your profits from other trades.

I guess what it re-inforced is that if you're going to trade, stick to stable coins that have a high market cap and a good numbers of buyers, and then find a tool that will help track the upward trends on an hourly (or better) basis with alerts. I might leave a small amount to play around in the smaller coins, but reserve most for more solid (albeit less exciting) trades.

My next task then (when I have some time), is to get the bot to take into account the current order books, and work out buy and sell walls. But that's if I don't lose interest and move onto something else :P
 
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Praemon said:
So I decided to play around with trading on Bittrex this weekend. Since I'm a developer by trade, I thought I'd try my hand at creating a trading bot using their API. Needless to say I learnt a lot, and thought I'd share my experience:

  • Firstly, make sure you fully understand trading terms before doing any trading, such as Ask, Bid, Last, Spread and Volume. While I somewhat knew what each bit of information meant, it wasn't until I was trading (and losing money) did I fully understand their impact. There's plenty of resources since these are generic terms, so read up!
  • Pump and dumps are happening with varying volumes almost constantly. I saw noticeable shifts every 20 minutes or so on coins that otherwise aren't traded. Sometimes the same coin will continually be pumped/dumped for a day or two. I'd imagine the more "professional" players out there (ie. the ones triggering the pump/dump) will buy in slowly to not cause any real upward trending before talking it up, making it hard to track.
  • It's really difficult making money off pump and dumps unless you can track the upward trend early and price in your sell low. I know it sounds obvious, but even with a bot making the decisions, it sometimes wasn't quick enough before it fell. You either have to work in a stop-loss (which Bittrex doesn't natively support via its API), or gauge the current trading patterns and hope it will swing back up.
  • There's lots of bots competing against you, and it looks like some bots get pulled into pumps/dumps contributing to the spikes (mine was pulled in a couple of times at the wrong time until I made a number of tweaks).

Out of the 80 trades or so today that my bot did I've made a slight loss. That was really due to the initial trades I did, where I bought in at the wrong times, and had to sell them off at a loss. The trades it's being doing since about 2PM have all been at a profit, but really small percentages: 0.5 - 1.5% (after trade fees). Realistically, I think I'm going to fine tune the bot to focus on more stable coins with a slower upward trend. At least then if it starts sliding the other way, I can hodl until it bounces back, or sell it off at a small loss. It's a much slower and well, less exciting. The potential for higher earnings are obviously there with the small coins spiking all the time, but the risk is through the roof, and just one bad trade could wipe out your profits from other trades.

I guess what it re-inforced is that if you're going to trade, stick to stable coins that have a high market cap and a good numbers of buyers, and then find a tool that will help track the upward trends on an hourly (or better) basis with alerts. I might leave a small amount to play around in the smaller coins, but reserve most for more solid (albeit less exciting) trades.

My next task then (when I have some time), is to get the bot to take into account the current order books, and work out buy and sell walls. But that if I don't lose interest and move onto something else :P
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I considered the same thing for Poloniex but I think I might just pay for this:
[video=youtube;j7moEH5tGag]https://www.youtube.com/watch?v=j7moEH5tGag[/video]

What Leonardo has is a slick and zippy interface since it's basically a Windows interface and not browser based. If anyone gets around to using it first, let us know your experience.
 
JPoBCTV.png


Cue twilight zone music :whistle:
 
etienne_marais said:
Good decision, I think. Did you buy in under $10 originally ?
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I can't remember the price I bought at, but I sold this morning at $0.82. So far, it seems I made the right decision since the price rose to a high of $0.83, and is now at $0.77. I'm in love with IOTA, but I'll marry it in future. IOTA (and the Internet of things industry) is not going to go mainstream in the next year or two. The price rise was due to a lot of market updates and announcements, and possibly speculation.

The_Mowgs said:
Which crypto would be the best to buy at the moment with about R8000? BTC or ETH?
Click to expand...

Do your due diligence, do your own research. I got in end of May at the peak, and lost about 30% of all money invested during the messy pull back in June after I let people fill my head with euphoria and "to the moon" talk. I didn't listen to guys who said "do your due diligence", "invest in what you know" and "invest money you're willing to lose". I'm break even again, but I know people who made 10 times in the past 3 months, they knew what they were doing.
 
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