New Trading Strategy - Micro Cap Coins - Microcaps!
So I've been down lately. Way below what I ever expected when I first jumped on the crypto train. I thought I was safe trading the more mainstream coins with higher market caps, but as it turns out I was wrong....
But I am resilient and I have a new strategy...
Buy Micro Cap Coins and Transfer Profit to Long Term Coins
Below is a chart I use to track my trades and here is a result of the past 3 days testing this theory:
Now, if you've read my previous post you should understand that I am a noob trader of alt coins and haven't been doing so hot. I got an 86% gain on a trade and was like, I found out what these mother f'ers are doing on twitter...
I don't think they get so much in the detail like I will be doing.
Take a look at this chart...
Solaris swings have been in the 50% - 150% range. Right now, I'm in this little coin again for 22000 SAT. I think it will touch 36000 soon.
So what's my strategy ask?
First
I sort through the coins and look at the high versus the low... When I see an interesting one, I look at the charts... see example
See the highlighted Sakura coin? It's currently selling at 10 SAT, but has reached 16 SAT. So that's a potential 60% winner right there... Now let's look further
Chart View
So what does this tell you?
Well, it tells me it's hardly ever gone below 10 SAT, so I feel pretty safe knowing worst case I may lose 10%.
The other thing this tells me, is it may be due for another pump, and maybe just maybe it will go to 25 SAT. Which would be a 150% gain! So what would I do...
Buy Order, Sell Order
So I would put a buy order in at 10 SAT, maybe 11 SAT if I'm impatient... but patience is key.
Next, I'll distract myself like go for a run or something that keeps me occupied for an hour.
I'll check and see if the coin sold. If it did then I will go ahead and put a sell order in checking how much BTC is in the way of my profit!
So here are the current sell orders:
So it looks like the biggest stopper is at 23. So I might put the sell order at 22. Am I happy with 22? You damn right I am, that's 120% profit!
The thing with these coins is your profit in terms of BTC will not be high. But you do this on a bunch of different coins and hopefully you'll enjoy a few gains.
Love the gifs! Have been watching for similar setups in the altcoin world, but have only dipped my toes in the water to date.
Sure seems like the real money is to be made in BTC/ETH still as they are the only vehicles to access alts, so the more people that come into the market the more buying demand we will see on BTC/ETH.
i found your strategy very interesting , isn't this risky ? i am afraid to follow it, maybe i will stick with Elliot Waves.Thanks for sharing knight
to be honest with you, I was scared at first. I went in with 250$ 5 days ago. Currently I'm at 800$ on that. I've gained more with this strategy than I have with the 5k I put into mainstream coins. For example, I bought KAYI at 2, because it could not go much lower, could have gone to 1... big deal. But instead it rose to 6, 250% profit. I limit myself to 20% max in a coin that is in Cryptopia. I have only had one loss, it hurt it was a 50% loss, but only lost .025 BTC. Started with .1 BTC, currently at .32. I'm just posting about what works. You may find me crying later, but we will see :)
if you bought into my example above you'd be at 2x right now... :)
Sir, i'll need your guide on how to do this stuff.
I guess you'll have to follow to find out! Read my comment above, I explain a little bit further. What strategy are you currently doing?
if you bought sakura you'd be up 658% today