• Welcome to Overclockers Forums! Join us to reply in threads, receive reduced ads, and to customize your site experience!

Trading with cryptos

Overclockers is supported by our readers. When you click a link to make a purchase, we may earn a commission. Learn More.

ivanlabrie

Member
Joined
Jul 29, 2011
Location
Buenos Aires, Argentina
I decided to post a few useful resources and have a thread for trading related discussions.

I've been gravitating more and more towards day trading (and swing trading) bitcoin and alt coins lately, since mining profits started to dwindle.

On my journey in becoming a profitable cryptotrader I had to take on some big losses, frustration and tons of time reading and practicing with demo accounts and whatnot.

Here are some really useful resources that helped me get back on track and start making solid profits trading coins. Enjoy ;)


Alvin Lee's trading strategy guide

You'll find a lot of useful information and resources here, feel free to explore the different posts and links he shares. Helped me a great deal when I first began.


Swing trading and all things price action+elliot wave+patterns

This for me is the Holy Grail of trading strategies, can be applied only to coins with massive market caps so restrict to litecoin, darkcoin and bitcoin pretty much. You need a big daily trade volume for the technical analysis to work 100%.

Price action basics: a must read

Bitcoinwisdom charts: learn to love 'em, it's the best we got.

Charts for other more obscure coins exist but you have to guess the url...stuff like https://bitcoinwisdom.com/markets/cryptsy/vtcbtc for instance...it's there but not listed in the site under markets.

Update:
www.cryptrader.com has charts for all coins using the tradingview.com engine and indicators. It's WAY more advanced than anything else out there.

Useful trading seminars:
 
Last edited:
Thanks Ivan, looks like this may end up being the way to go if you want to gamble.
 
I have to vouch for bitfinex.com and plus500 for btc and ltc trading vs usd and btc-e using meta trader 4 if you have any sort of trading experience.

Bitfinex has the bonus of having added darkcoin recently, but the trade volume isn't enough for effective charting yet.
 
Coin trading is where I have been making most of my profit lately. I stopped sinking money into mining hardware and sunk my hoard into a few investments, and playing the alt coin markets slightly.
 
Good call, I've been doing the same thing...in fact I manage a mining farm and the owners were considering selling.

I reccomended them invest the money into cheaper GTX 750 Ti's to replace all AMD cards and then buy bitcoin with the extra cash.
 
I hope you guys bought some btc at the low...it was really easy to figure out it would pop in a couple of days. :D

I wish.

I plan to hold some, sell when it's high so I'll have some fiat in Cavirtex so I can buy as soon as the price dips again.

Should have done that a while ago :-/
 
pfff, not only that but it has automated orders and leverage.

I only do margin trading there. You deposit 1 btc, and you can play around with 2.5x that if you want. You need to have 13% of the total coins at all times in your account before they take your bitcoin to prevent losses, a.k.a. margin call.

If you get good at trading it's an excellent idea to move bigger amounts of money with less risk, and basically duplicate your trading profits.

Example: I deposit 1 btc, got 2.5btc of usable balance.
I go to the margin trade section, pick ltcbtc and sell 200 ltc now because I think it will drop in price. I borrowed those 200 ltc, sold instantly for btc and keep the position open (theoretically owning the btc from the sale while the trade lasts) to then buy back the 200 ltc to close the position and get a profit.

Say I sold ltc at 0.0178 and bought back at 0.01712 I will get the spare btc from the purchase as profit in my account minus the trade fees and the loan interest (0.005% per day).

I can do it both ways as well, both down and up and always get my profit in btc.
Good thing is I can move 2.5x my capital and basically get moar with less (or lose all if you are dumb xD )
 
I did this back in the day with bitcoinity. It only takes a small swing to lose your funds or make some good money. I always seemed to loose slowly, but I had a much harder time reading the market back then. if you are watching the charts, reading bitcoin forums, watching troll boxes and have a good feel for the way things may go, then you might be all right, but predicting the future can be hard.

I have moved some litecoin into other things lately. Probably close to 15% of my litecoin holdings. Though I am not confident to day trade, I consider it diversifying.
 
Bought half a btc worth at 22, know what you're saying. And vert is crapping the bed as well.
 
Yup, both are victims of inflation...miners need to dump to pay electricity.

Litecoin was a rare exception that it attracted a lot of buyers over time and kept a decent value, and many miners held their coins but not anymore.

Same can be said about vertcoin, it didn't have enough selling points to absorb the daily 30k vtc that need to be sold to maintain the price, and I don't see it ever recovering.

My stance is to not hold anything, unless it's part of a trade plan now.
 
Yup, both are victims of inflation...miners need to dump to pay electricity.

Litecoin was a rare exception that it attracted a lot of buyers over time and kept a decent value, and many miners held their coins but not anymore.

Same can be said about vertcoin, it didn't have enough selling points to absorb the daily 30k vtc that need to be sold to maintain the price, and I don't see it ever recovering.

My stance is to not hold anything, unless it's part of a trade plan now.
Damn... I still have a bunch of VTC too :-/
Your stance changed... *cough* Curecoin *cough*...... :p

Great thread Ivan, thanks! :)

Too bad about curecoin eh?
Good idea, but now look at it....
Still have 50 CURE though.
 
Back