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Alt Coins trading

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  • First Post: Edited Feb 25, 2017 11:34am Apr 26, 2014 2:01pm | Edited Feb 25, 2017 11:34am
After the sudden rise of bitcoin price in 2013, a lot of cryptocurrencies have been announced. During the first months of their trading in exchanges they often offer profits that can multiply the original capital many times, without any leverage. A recent example is DarkCoin as you can see on the picture. The most promising alt coins are those with a strong community, an active development team and innovative features. New coins are usually announced here and then are traded in various exchanges: Poloniex, Bittrex, YoBit and others. I started this thread to discuss the trading philosophy and any opportunities in this new field.

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Trading bitcoin knockoffs is kind of like trading penny stocks. 90% of them are pump n' dump schemes and are going to burn you when the game of musical chairs is over.
The entry strategy is simple - get in early! This is going to be more about finding the quickest way to acquire. Since the trading is going to be new you just don't have the historical data to do much analysis.

The exit...? Now that's more within the realm of this forum.

Have a look at slope, volume and the new coin's position within the market.

What I'd prefer to do is try to find a way to short. This would have to be done manually... I can't never get my head round that though - how does this work? I think you have to find someone to lend you the coins right? -in exchange you give them say, dollars. Sounds sketchy.
Monero is a promising candidate for a huge rise. It has an active development team and is one of the first cryptocoins offering privacy with the CryptoNote protocol. Current price at 0.00282303 BTC.
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Hi, I'm wondering if anyone can recommend some specific exchanges to start using bitcoin? I'm new to the game so to speak and am not really technically minded, so any suggestions would be welcome as there seem endless options! Thanks
Looking forward to when we can actually speculate on these rather than having to physically buy them.

These things are too new and volatile for brokers to mess with them though. Oanda are quoting BTC/USD prices but nothing more. Yet. . .

I have some Dogecoins and a few Satoshi's worth of Bitcoin but I'm looking to actually spend them rather than trade them.

Popular exchanges at the moment appear to be Cryptsy and Bter (amongst a few others) but after the Mt. Gox thing a few months back I'd urge caution and not deposit too much of your hard earned with them yet.
So.. is anyone here?! In the last week i looked at exchanges etc myself, and liked kraken, hitbtc and bitstamp as their layout was simpler and people have written a lot about them. Can anyone give me tips to help me choose now? i haven't parted with any cash as yet as there must be pros and cons to these places and i wanted an inside scoop, so to speak! ANy help much appreciated!
Factom is a promising coin as it introduces an unalterable record-keeping system by creating a data layer on top of the Bitcoin blockchain. Organizations can document their information on Factom assuring they can't be modified, deleted or backdated. Its current price is 0.00265 BTC.

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Finally, I can trade on Poloniex exchange via PTMC trading platform. Guys developed their connector called CryptoGateway.
https://protrader.org/upload/codebas...2d6caabf14.png
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Quoting Kanzler
Trading bitcoin knockoffs is kind of like trading penny stocks. 90% of them are pump n' dump schemes and are going to burn you when the game of musical chairs is over.
I think this market is bit new and that's why many pump and dump scenarios are noticed many often however it is good to trade bitcoin against the USD or EUR, in my opinion.
Alts are looking like most IPO´s in 2001.

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Money isn't real
Quoting TMR
Alts are looking like most IPO´s in 2001. {image}
Lol so whats the trend direction on these....hehehehehe
4&1 All Time Profit: $37,365
Quoting TMR
Alts are looking like most IPO´s in 2001. {image}
Ah it all makes sense now

Alts have had a pretty decent week so far though while BTC has faltered. This isn't uncommon though, people trade their BTC into alts to try catch a lift then they cash out back into BTC. I expect the same thing will happen again once BTC dips lower.
XRP has been having a great 48 hrs. I wonder why?

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Today I wrote in the Telegram:

ZRX broke above previous major high. I believe in Correction. The progress of wave A was quickly nulled.
Actually, as you see in hindsight, it was a clear manipulation:

 

  1. FOMO wave has extremely size of volume. Extremely high volume on up-bars = hidden weakness.
  2. SLKT above the #FOMO waves – additional Trap of smaller scale (intraday size)


So, the current trading range is developing in the format of the #distribution stage. That is why I do believe, #ZRX #cryptocurrency has negative sentiments

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Oleg Alexandrov, market analyst. Find me in Google
Quoting olegchartist
Today I wrote in the Telegram: ZRX broke above previous major high. I believe in Correction. The progress of wave A was quickly nulled. Actually, as you see in hindsight, it was a clear manipulation: FOMO wave has extremely size of volume. Extremely high volume on up-bars = hidden weakness. SLKT above the #FOMO waves – additional Trap of smaller scale (intraday size) So, the current trading range is developing in the format of the #distribution stage. That is why I do believe, #ZRX #cryptocurrency has negative sentiments {image}
I was expecting zrx to be less susceptible to manipulation than the centralized tokens but I'm always a bit skeptical of ERC20. Also, I think a number of their relayers died out (ERC-DEX for example).
If you like my post throw me a Doge: D85YHaQ6nQTp4oT13sHoAZbETn3sADVnF8
Quoting olegchartist
Today I wrote in the Telegram: ZRX broke above previous major high. I believe in Correction. The progress of wave A was quickly nulled. Actually, as you see in hindsight, it was a clear manipulation: FOMO wave has extremely size of volume. Extremely high volume on up-bars = hidden weakness. SLKT above the #FOMO waves – additional Trap of smaller scale (intraday size) So, the current trading range is developing in the format of the #distribution stage. That is why I do believe, #ZRX #cryptocurrency has negative sentiments {image}
I'd be careful using telegram and dealing with cryptos, this goes for everyone out there!:

Telegram Reportedly Being Used by Hackers to Seize Cryptocurrency From Users’ Wallets

Nice charts though!
The Bigger the Boob, The More Buckles on it's Bra
The wide green up-bar (the third from right edge) was a test or fresh minor zone of Weakness after the second SLKB.

Studying the volume/price action on fast TF chart (right side) confirms the Supply on slow TF has activated. This Supply comes from old High (line A). So, the down-move toward center-line B (dotted line) should be a reliable expectation.

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Oleg Alexandrov, market analyst. Find me in Google
3 weeks ago I wrote about ZRX

the chart make-belief, ZRX can produce more surprise in the future.

Since that time this crypto did advance from 0.21 up to 0.34. And it continues to climb higher.

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Actually, I became skeptic about the continuation of rally when price penetrated the previous high 0.2666 (1). It did look very close to fake-breakout. The penetration (2) of previous high (1) with ND+SB sequences (Supply Bar after No-Demand bar) had also bearish impression. But look what did happen next.

Very low volume range (3) below 0.2666. If this low activity was caused by lack of sellers (NS) - then we will get a confirmation from upbar with rising volume - DBar.

Here is it !(4). It confirmed the low-volume range #3 as the Zone where lack of sellers were found. Market changed its character (Cha Cha) into bullish mode again.

The next signs confirms strong character:
5 - No supply
6 - Demand bar
7 - No supply
8 - DB, but volume is extremely high (sign of hidden weakness).

Breaking out above 0.3 round number attracted rush of FOMO buyers. It is great moment to close big longs and start distribution. However, it is too early to suggest Major Reversal down.

While price is holding above 0.3 green line - market is sending bullish indications.
Oleg Alexandrov, market analyst. Find me in Google
LINK market overview

  1. The uptrend started (as in 95% cases) from big red downbar (trap).
  2. No Supply + Entering of Genuine demand around 2.0 level. 2$ and 2.2$ become the price of support.
  3. The volume increased up to abnormal numbers. Ultra-high volume on up-wave/bars = sign of Hidden weakness where professionals fix profits from longs using the buying rush from ordinary public who was impressed by advance. “Oh, LINK is going to breakout above 3.0 and go to the Moon!” - they suggested. But…
  4. As a result of FOMO, LINKUSD started down-move, which culminated in minor Panic Selling Bar around old support level $2.2.
  5. NS+DB at the level of Panic selling (4) - market resumed upward movement.
  6. SLKT and the manipulative move. 3.0 still contains a lot of supply.
  7. another minor Panic Selling. The whole crypto market dumped, but LINK is feeling much better.

What is next?
While price is holding above the bottom trend line, this market has arguments for trading in the bullish team. IMO, professional buyers preparing a new attack on 3.0 level.

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Oleg Alexandrov, market analyst. Find me in Google
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