Low-Activity Coin Repricing Manually a Herculean Task but Must Be Done! - Crypto Traders Journal
Trading low-activity coins is a time-consuming process that requires changing positions frequently. I evaluate all of my positions on a daily basis because that's all that time permits these days.
Today I was checking out CryptoHopper simply to see if they have Crytopia or YoBit coverage. Currently they do not, they focus their main efforts on Binance and a few others. CryptoHopper really is a tool for high-volume coins where people think they can use signals or technical indicators in order to eek out a nice return. I'm not interested in going down that road because the whole world and their brother are attempting it and the spreads are incredibly thin.
When it comes to pricing out reprices, I've had the most success with being the second or third highest/lowest price. That way I don't lead a race to the bottom and oftentimes the lowest/highest price is only for $1 USD in coin so my much larger order would lose quite a bit if I'm trying to be first in line. It's Economics 101.
I've yet to find a good bot that is sub-$100 USD that works on smaller exchanges for smaller coins but my search continues. There is just too much reward for low-risk positions that take place for low-activity coins to not focus the time I am into this space.
Recently I had an interesting development in my position with Women Coin.
A whale came into YoBit and dumped many hundreds of thousands of coins into the Women/BTC market at 0.00000003 btc such that there were no longer any buy orders at 0.00000003 btc. As I was doing some repricing, I saw within my coin window that the order had been filled and I was now in possession of a hefty number of Women coin. I immediately sprung into action and checked Women Coin's coverage in the USD/ETH/DOGE/WAVES/RUR markets and they were largely unchanged. I was curious as to if the whale would unload into these denominations as well but he ended up not doing that. Within seconds the price corrected within the Women/BTC market and more buy orders popped up. In short, the market absorbed the hit and kept on chugging along. I immediately entered the line to sell at 0.00000004 btc 2/3 of the coins I had purchased and, in keeping with my altcoin investment strategy, kept 1/3 to HODL for future sale.
In order to get opportunities across the span of a number of a different coins, I do some cursory research into a coin by checking out some basic vitals for a coin and if it isn't completely dead then I'm comfortable enough to enter the market. As long as there is some buying activity at the high-end then I'm ready to enter on the low-end of buying.
How much research do you do before entering a coin? Comment in the section below.
