6 ms·

Ask HN: Does anyone here trade cryptocurrencies successfully?

9 points by jamiegreen 9y ago

If you do, what is your strategy? How do you make trading decisions, and what resources did you use to get started?

deleted 9y ago
[deleted]
luckyt 9y ago
Anybody actually making money trading cryptocurrencies wouldn't be eager to share their strategies on Hacker News...
- poopoopoopoo 9y ago
  I would. I buy when sin(btc/usd) in range (-0.1,0.1) and sell on the cos(btc/usd) in the same range.
deleted 9y ago
[deleted]
sova 9y ago
I have a lot of strategy ideas but in general the idea is to find very promising technologies that have surpassed nascent issues in the original protocol, invest as much as you can as early as possible, and sit on the funds as long as possible, ideally many years.
quickthrower2 9y ago
I got some dogecoin once and sold. So profit. Much luck. But no systematic system.
deleted 9y ago
[deleted]
thiagooffm 9y ago
I use sentimental analysis over some content + other factors, when it hits some threshold, I trade it myself. I don't automate it also because I'm not looking for very short trade movements, but more like in periods of 8 hours. So I either buy or sell my complete position in the coin, generally operating 2-3 coins. I've tried trading with a bot with this system, created by myself, but I've found out that it's better to set up a trade with a stop, use the criteria of whether using a coin or the other and just sell it after a few hours, as hype usually lasts for a couple of hours as news travel fast, so do people start selling off early. You generally want to analyse it yourself how much hype there is. Note that I don't believe in cryptocoins as they are, for me they are bullshit without a business model or intrinsic value, but some clueless people think they are "investing" on it, so I'm there to make profit out of their lack of knowledge. With 3-4 trades a day, there's much window to make like 10% a day, even though it sounds crazy, some coins got some big volatility. Also, some days I stay out of the market, based on my criteria. Some days things will just go generally down after sometimes after weeks of gains. It's better to stay out with your money than in the game to lose.
- _jdams 9y ago
  Can you recommend a website exchange I can create an account and get started?
  - companyhen 9y ago
    First you need to use fiat to get BTC or ETH. I recommend ETH because transaction speed and fees are faster and cheaper. I recommend Gemini.com (Winklevoss twins involved in this company) Then I recommend Bittrex.com and Binance.com for the top two exchanges right now. I can see Binance overtaking Bittrex eventually, it recently launched but has it's own coin and is going to become decentralized eventually. https://www.binance.com/resources/ico/Binance_WhitePaper_en.pdf https://www.binance.com/resources/ico/Binance_WhitePaper_en....
  - rrrrrraul 9y ago
    Chiming in with one exchange I've used, Coinbase / GDAX , I think it might only be available if you're in the United States.
    - siquick 9y ago
      Using it from Australia here but you can't sell in Coinbase if in Aus so I have to send ETH/BTC/LTC to a local exchange (BTCMarkets) to withdraw $.
jurgenwerk 9y ago
I started trading just recently with smaller amounts. Basically what I do is really stupid and not technical at all, but it works: I lurk in various chat rooms where people discuss and alert which coin started "pumping" and what's hot right now. Then I go and check the graph for that coin and try to estimate if it will grow more. I also look for popular coins that fell low after initial high. Then I buy them and immediately set a sell order in the exchange to automatically sell them when the price rises to a certain point, to earn a couple percent of my trade investment. Then, the most important part - I forget about this. I just wait until the sell orders are cleared out, it usually takes a couple of days or weeks. This way I'm earning around $200 per week. Of course, all is correlated with the price of BTC. If it drops I'll be at loss :)

9 points by jamiegreen 9y ago

If you do, what is your strategy? How do you make trading decisions, and what resources did you use to get started?

deleted 9y ago

[deleted]

luckyt 9y ago

Anybody actually making money trading cryptocurrencies wouldn't be eager to share their strategies on Hacker News...

poopoopoopoo 9y ago
I would. I buy when sin(btc/usd) in range (-0.1,0.1) and sell on the cos(btc/usd) in the same range.

deleted 9y ago

[deleted]

sova 9y ago

I have a lot of strategy ideas but in general the idea is to find very promising technologies that have surpassed nascent issues in the original protocol, invest as much as you can as early as possible, and sit on the funds as long as possible, ideally many years.

quickthrower2 9y ago

I got some dogecoin once and sold. So profit. Much luck. But no systematic system.

deleted 9y ago

[deleted]

thiagooffm 9y ago

I use sentimental analysis over some content + other factors, when it hits some threshold, I trade it myself. I don't automate it also because I'm not looking for very short trade movements, but more like in periods of 8 hours. So I either buy or sell my complete position in the coin, generally operating 2-3 coins. I've tried trading with a bot with this system, created by myself, but I've found out that it's better to set up a trade with a stop, use the criteria of whether using a coin or the other and just sell it after a few hours, as hype usually lasts for a couple of hours as news travel fast, so do people start selling off early. You generally want to analyse it yourself how much hype there is. Note that I don't believe in cryptocoins as they are, for me they are bullshit without a business model or intrinsic value, but some clueless people think they are "investing" on it, so I'm there to make profit out of their lack of knowledge. With 3-4 trades a day, there's much window to make like 10% a day, even though it sounds crazy, some coins got some big volatility. Also, some days I stay out of the market, based on my criteria. Some days things will just go generally down after sometimes after weeks of gains. It's better to stay out with your money than in the game to lose.

_jdams 9y ago
Can you recommend a website exchange I can create an account and get started?
- companyhen 9y ago
  First you need to use fiat to get BTC or ETH. I recommend ETH because transaction speed and fees are faster and cheaper. I recommend Gemini.com (Winklevoss twins involved in this company) Then I recommend Bittrex.com and Binance.com for the top two exchanges right now. I can see Binance overtaking Bittrex eventually, it recently launched but has it's own coin and is going to become decentralized eventually. https://www.binance.com/resources/ico/Binance_WhitePaper_en.pdf https://www.binance.com/resources/ico/Binance_WhitePaper_en....
- rrrrrraul 9y ago
  Chiming in with one exchange I've used, Coinbase / GDAX , I think it might only be available if you're in the United States.
  - siquick 9y ago
    Using it from Australia here but you can't sell in Coinbase if in Aus so I have to send ETH/BTC/LTC to a local exchange (BTCMarkets) to withdraw $.

jurgenwerk 9y ago

I started trading just recently with smaller amounts. Basically what I do is really stupid and not technical at all, but it works: I lurk in various chat rooms where people discuss and alert which coin started "pumping" and what's hot right now. Then I go and check the graph for that coin and try to estimate if it will grow more. I also look for popular coins that fell low after initial high. Then I buy them and immediately set a sell order in the exchange to automatically sell them when the price rises to a certain point, to earn a couple percent of my trade investment. Then, the most important part - I forget about this. I just wait until the sell orders are cleared out, it usually takes a couple of days or weeks. This way I'm earning around $200 per week. Of course, all is correlated with the price of BTC. If it drops I'll be at loss :)