Yesterday I felt really bad, having lost a huge
amount of BTC during trading and BTC bloodbath. I became depressed and felt wrecked. As I laid down blaming and asking myself why there's always a downtrend after I had bought a particular coin something struck me and I thought that it's better to find a solution towards forestalling future occurrance of such scenario rather than brooding over my losses and then I found this interesting and deemed it necessary to share it with steemit community because I reckoned that I might not be the only one suffering from this unsavoury trend. Google and YouTube has become my favorite site of learning. Admittedly, I am a noob in this and would welcome your comments and suggestions on this. I hope you find this interesting too
HERE ARE MY FINDINGS SO FAR!
RULE OF THUMB 👍
Use coinmarketcap.com. You should be looking for coins with a nice distinguished name, nice icon and LOW-MODERATE MKCAP & VOL
BUY TIMING ⏱
Make sure you buy your coin when it is in the range of 6-17% DECREASE, over the 1 & 2 days. Looking at the chart this way helps you to identify small dips in a coin which has A LOT of potential! BUY IN THE DIP See Red = Go shopping ;)
PROFIT TRACKER 💰
Use blockfolio to monitor how much your coins rise from the time you bought them (iOS/Android). Excellent App for tracking profits.
FOR RISK TAKERS ⛷
High Risk/High Reward method - Buy newly created coins in massive BULK! Make sure the coin is not on Poloniex/Bittrex/YoBit/Crytopia exchanges. Buy millions of this coin, even if it is 0.000001$ per coin. This coin is very likely to appear in the news more, be added to gateways/exchanges, may have a run of hype later on (where it will drop back to normal after). The volatility in these coins is something that can make you rich. Make sure to BE PATIENT.