HOW I MADE 4X BTC BY TRADING A SHITCOIN
The first thing I said to my self was man the altcoin market is booming and no one is paying attention which means the popular coins will pop first then it will trickle down all the way to the shitcoins where the biggest risk and opportunities are at.
So I began digging in bittrex exchange because there are more coins listed there then poloniex. but on poloniex only popular coins trade so bittrex was the best option. so I start scrolling from the last page to the first page looking for coins that look like they are getting ready to pop and here is where the process begins
First step: I started looking for was a coin rising in volume: checked
Second step: I go and check the market cap, max cap & coin supply to see if is a bargain: checked
Third step: I check the order book for any price action that could drive the price up: checked
Forth step: I look at the community and see if they have memes & a troll army : checked
Check list complete
Now, for the execution, I know that it is a risk trade so I go and allocate 25% of my funds in the account and buy
Being patient: Most people in the trading world and in the crypto space are very anxious and lack discipline. If you learn to be patient you will have an edge over a lot of traders. That’s what I do. So I waited and monitored the coin from May 26th 2017 to June 5th 2017, which is not a long time but in the crypto space it’s an eternity for a lot of traders. Anyways, on June 5th my plan was executed flawlessly making me 4x btc.
Can you explain your steps more thoroughly? You didn't really talk about any of the analysis. For example "Third step: I check the order book for any price action that could drive the price up: checked".
Your post would be more interesting if you elaborated a bit more.
pretty much I just look at the buy order book & sell order book to see which side is stronger if the sellers are strong ill wait until their strength get weak and then buy and if buy order Is stronger then the sell order ill just buy
there is another blog post were I talk about this https://steemit.com/altcoin/@cryptotrader101/understanding-usdcrypto-as-a-financial-instrument