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Short term crypto trading?

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08-19-2021 , 08:48 AM

Yeodan

Micro NLHE Coach

Join Date: Mar 2008 Posts: 3,621

First of all, I'm a total noob in all of this.
I made myself a Coinbase account a few months ago to buy €100 in ADA, been checking up on it daily, but haven't done anything else.

Now I've noticed that every day when I go to sleep, most of the crypto's are down a bit, then every day when I wake up, they're back up a bit.

Seems like an easy way to make some easy $$, buy when I go to sleep, sell when I wake up?

Thoughts?
Am I missing something?

The spikes are always around the time I wake up.
Not just for BTC, ETH and ADA as well, those are the ones I track.

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08-19-2021 , 10:44 AM

Zima421

Carpal \'Tunnel

Join Date: Jan 2007 Posts: 18,973

what if you travel. when will you know when to buy or sell?

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08-19-2021 , 01:04 PM

Yeodan

Micro NLHE Coach

Join Date: Mar 2008 Posts: 3,621

Quote:

Originally Posted by Zima421

what if you travel. when will you know when to buy or sell?

Eh? I'm not planning on traveling anytime soon and I could just stop for a while since it's short term trades?

My plan is to buy every time I go to sleep and then sell again when I wake up? Since they've almost always gone up a bit when I get up.

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08-19-2021 , 04:11 PM

Z06Fanatic1

adept

Join Date: Feb 2015 Posts: 835

You're just making up data in your head, but hey if you believe it go ahead

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08-19-2021 , 10:51 PM

despacito

old hand

Join Date: Nov 2018 Posts: 1,369

You are picking up pennies in front of a steam roller.

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08-27-2021 , 09:51 AM

momo3HC

stranger

Join Date: Aug 2021 Posts: 3

Quote:

Originally Posted by Yeodan

The spikes are always around the time I wake up.
Not just for BTC, ETH and ADA as well, those are the ones I track.

If it was so easy we all would a multimillionaires.

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08-27-2021 , 02:56 PM

agamblerthen

grinder

Join Date: May 2011 Posts: 498

Quote:

Originally Posted by Yeodan

Am I missing something?

Yes.

You have a theory based on very limited data. A poker analogy might be "I played 64o and made two pair or better five times last night, so I should always play this hand, right?"

Why don't you look at historical data. Look at the prices of BTC, ETH, and ADA at the times you usually go to bed and wake up for the past 100 days, or maybe the past 4 years. Don't forget to factor in exchange fees to buy and sell every single day—they are the rake, and they will make you go broke very quickly even if your theory holds true the vast majority of the time.

But it won't hold true. Your anecdotal observations are meaningless noise.

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08-27-2021 , 07:05 PM

rand

Pooh-Bah

Join Date: Feb 2007 Posts: 4,137

Quote:

Originally Posted by Yeodan

Leveled.

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08-27-2021 , 07:08 PM

rand

Pooh-Bah

Join Date: Feb 2007 Posts: 4,137

Quote:

Originally Posted by agamblerthen

You don’t know that. Markets are not what they taught you in school (EMH). Cycles are real. The world and life run on cycles, your heart, your breath, the work day for cash session for US equities etc.

OP, don’t let these *******s discourage you. But you should backrest your theory. And I will take the under on you making money…just to keep you grounded and give you something to shoot for 😉.

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08-27-2021 , 07:21 PM

#10

astro

grinder

Join Date: Apr 2005 Posts: 475

yesterday I sold ADA at 2.56 and when I woke up it was 2.87

you theory didn't work for me

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08-27-2021 , 07:22 PM

#11

rand

Pooh-Bah

Join Date: Feb 2007 Posts: 4,137

Quote:

Originally Posted by astro

yesterday I sold ADA at 2.56 and when I woke up it was 2.87

you theory didn't work for me

Or, perhaps you guys live in different time zones?

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08-27-2021 , 09:15 PM

#12

MeleaB

See my Commercial Software thread

Join Date: May 2012 Posts: 5,395

I've noticed that after I take my first shlt of the day that most of the Cryptos are down a bit. After my second shlt they always go up a bit.

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08-27-2021 , 09:17 PM

#13

MeleaB

See my Commercial Software thread

Join Date: May 2012 Posts: 5,395

Quote:

Originally Posted by Zima421

what if you travel. when will you know when to buy or sell?

Quote:

Originally Posted by Yeodan

Eh? I'm not planning on traveling anytime soon and I could just stop for a while since it's short term trades?

Assuming you're theory was correct, are you really unable to think of how you could continue to follow it if you went travelling?

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08-29-2021 , 11:09 AM

#14

rand

Pooh-Bah

Join Date: Feb 2007 Posts: 4,137

Quote:

Originally Posted by MeleaB

Assuming you're theory was correct, are you really unable to think of how you could continue to follow it if you went travelling?

LMAO, don’t tap the glass.

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