Any Tip on what Time & Day to buy and sell altcoins and the main coins?

Hi all,

The newbie here has few questions and I would love to know the option of the gurus here:

1 - What is the best time and day to trade the small altcoins (and/or the main 3 coins BTC, LTC, ETH)? For example, I was watching some charts for BTC and I noticed that around 21:00 PST we have a swing upward. So, maybe a good time to buy BTC is around 21:00 PST (I am in California and this time is California time)

2 - Any specific day? I hard Peter mentioned before Friday to buy Bitcoin? Maybe Friday 21PM is a good day to buy weekly bitcoins? Maybe Sunday because the markets in Asia are opening?

Since I have a day job (9 - 5) it is very difficult to watch charts… (I am getting crazy like you guys already :D). Anyways, just want to know your opinion to try to build some strategy to climb until the Moon.

All the best coins!!!

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I’ve noticed lately that a good time to catch swings is when the Korean markets are trading heavily, generally on their open and close of their business hours. I think they are in the GMT+9 timezone if I’m not mistaken. For me on the east coast their heaviest trading seems to be around 5-6 am, so that would be like 2-3 am on the west coast unfortunately. This is particularly true when a coin is listed on a Korean exchange as happened with Monero a couple of days ago.

I think the traditional market hours in the US are also good to watch, as there can be high volume in the mornings in the US on news that happened overnight while folks were asleep. FOMO kicks in pretty heavily when people wake up to a huge market move that’s already underway.

Other than that, watch general crypto news sources for news that might indicate a shift in market sentiment leading to a breakout of a price on a specific crypto. Unfortunately, that can happen at lots of different times, and often the news comes too late in the move to take advantage of unless the report is fresh and not baked into the price already. If you are watching a specific coin, twitter feeds related to that crypto are a good place to get a heads up on what events they may have coming up so you can prepare in advance in case the news is big enough to swing the market.

For BTC, the trend is still very bullish, so I don’t see it coming back down for a few weeks. If you’re patient, you might be able to catch a retracement, but BTC almost always jumps back up above the retracement within a day or two unless there is some reason the price is being suppressed like the hard fork that recently took place. That’s coming up again toward November with the Segwit2X nonsense, so until late September I’d say the price will remain bullish generally.

Can’t say much about Ethereum personally as I haven’t watched it closely enough, but it did just have a big move to the upside that may be peaking from what I gleaned from tidbits of news here and there. Then again, it could stay bullish for a long time like BTC… hard to say on that one.

Essentially, crypto markets run 24 hours a day, so pick a time frame that works for you consistently, and track it during that time daily. There are tons of other people that have 9-5 jobs that only trade in their offtime, so I would expect market swings would sync up to periods when traders are most active, i.e. after work for people who don’t trade professionally, and during business hours for people who do it for a living.

I doubt that’s super helpful, but from my experience that’s what I’ve seen :money_mouth_face:

One other note, if you study technical analysis of markets, you can predict when moves will be likely to occur and plan in advance setting up your trades ahead of time with stop limits and buy orders at particular price points. That will allow you to do it whenever you want, and it will trigger regardless of whether you’re at your computer able to press the button to make it happen. It’s definitely worth the time to get up to speed on how to view market trends. The video Peter did about the 7 most common trend patterns to look for in crypto is super helpful in that regard.

Good luck!

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Yah, that’s is Brutal :slight_smile:

Thank you for a so great response. For me, it is hard or impossible to keep the eyes on many coins, SO, I am thinking about:

  • Buy or accumulate as much BTC as I can;
  • Buy LTC as I can and use it for trading with other altcoins (OMG, etc)

At this point, I will try to accumulate as much BTC and LTC as i can buying weekly few amounts. Then, I will try to “learn” how to trade correctly with other few altcoins.

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We are together man! :slight_smile:

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Yeah, I think one of the secrets of success is being persistent and consistent (buy BTCevery week, trade at same time, keep your eyes in your coins, etc)

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No problem… if you want to trade alts, Im not sure how much use LTC will do for you since most exchanges pair altcoins with BTC or ETH, not LTC. Accumulating BTC is always a good decision in my opinion. Just be wary of the hard fork coming up in a couple of months since that might cause a drop in price.

My strategy is basically to buy BTC, then invest in good alts for the short term gains and buy more BTC than i started with, rinse and repeat to build up my BTC holdings. There are some projects around that might be good longer term holdings like OMG, LSK, ARK, XMR, ETH, etc… Stuff that’s pretty certain to be around in another year. Not so sure about NEO any more with the Chinese regulators cracking down, and even ETH has an uncertain future if exchanges and ICOs run into trouble with the SEC.

One pro tip for buying BTC, if you use Coinbase, you can also buy on GDAX. On Coinbase, you pay huge fees to buy BTC. On GDAX, if you do stop limit purchases (not LIMIT buys, which is the default) you pay $0 in fees. There are some youtube vids about how to do it if you’re unfamiliar. Saved me a ton of cash personally since Coinbase fees are huge. It does take a while to fund the account with USD though, probably about a week.

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Thanks for the tip. I used to have coinbase, they closed my acount. I believe because I sent BTC directly from Coinbase wallet to some sites like bitconnect, trady.io, control-finance (ALL BAD SITES!!! and they will eventually close at some point taking your money)

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If you set your in and out when you start the trade you can set a sell order and it does not matter when it sells. if you are just trying to lock in profits you will want to find a way to have a trailing stop loss.

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Yes, I am starting understanding taking risks (1R to stop lost and 2R to take profits)…
Those two youtube videos are great (I want your opnion as well about them)
By the way, I think Adam Khoo is Korean name as well… Go Peter :slight_smile:

https://www.youtube.com/watch?v=ZPWWeu0ClLk (Let Your Emotions Serve You and Not Enslave You by Adam Khoo)

and

https://www.youtube.com/watch?v=lHhtVfeoCdQ (Trade Like a Casino Part 2: Creating a Profitable Stock Trading System)

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Watching them now.
The first feels a lot like hey use your emotions to motivate you.

The second I wanted to watch another video for context.

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Good concise advise here. Trying to learn what a trailing stop loss is, can you elaborate?

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A stop loss is used when you make a trade it will sell if you lose x% typically 2-5 and that is 1r. The exit is set at 2x% 4-10 2r. A trailing stop loss kicks in after you are in the money to keep you positive if the price turns against you. So most will trade 1:2 risk reward and a trailing stop loss can let you let your money ride and get you out of the trade if it goes south.

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