2017 was an epic year for trading cryptocurrency, any fool could have made money in the market day trading crypto back then, I know I did!
But the days of throwing money into any old crypto project and sitting back to watch your profits soar are long gone, and with the complete social media blanket ban on advertising anything remotely linked to a cryptocurrency, the chances of seeing those days come back anytime soon are remote at best.
But there is no need to feel down…
Late last year we at moocharoo.ninja released our first crypto trading signals in the Masters area of our site (members only).
These were based on a combination of day trading and swing trading strategies which are very common in traditional markets.
While being OK… these signals did seem to always be one step behind the market, leaving most feeling left behind.
It has long been our ambition to create the worlds best day trading signals for use with our automated trading bot.
But these standard trading strategies that are often pumped out to retail traders by investment banks and trading platforms are just not going to cut it, so we spent the last few months analysing price data from the past couple of years for various coins.
As with all things that happen day in day out, eventually predictable patterns emerge.
We are now in the final stages of price data collection for our select few coins that we shall be using for our trading signals and auto trading bot.
While I can not go into any depth here on exactly how our trading signals work (because it is too awesome and profitable to share freely) I am however more than happy to share with you the 12 coins we have selected and why.
What makes a good day trading cryptocurrency?
While 99.8% of coins that were booming in 2017 are falling away into the abyss there are a few that have stuck around and have been excellent to trade.
First and foremost as traders we need volatility, without a constantly changing price, we can not make money!
The good news here is that cryptocurrency is crazy volatile, however not all cryptos have been made equal in this regard. One of my personal favourites has been Tron, wildly volatile on a consistent basis and has made for some excellent trading :-)
Secondly we need volume, it is no good the price going up 800% in a day but there is only 0.00001712 BTC worth of orders being traded!
What is the point in that?
Also you do need to be particuarly careful here in the world of cryptocurrency as fake volume is everywhere as new start-up exchanges are all too happy to accept bitcoin from projects to report massively inflated daily trading volume figures to coinmarketcap etc.
How we picked the coins
At the beginning of 2018 we created a poster called “The Periodic Table of Cryptocurrencies”, we did the same at the start of 2019.
These posters are a snap shot of the 118 top coins on coinmarketcap on the 1st January at the start of each year.
Later we created a module in the Masters area of moocharoo.ninja called “Blockbuster Crypto” which tracks the success of these coins throughout the year, this is particuarly useful to quickly discover which coins are outperforming bitcoin ;-)
We used the data from the previous two years to find the 25 best performing coins from the past 2 years and then removed any coins that traded relatively flat for long periods of time (we don’t want long boring holds… XRP!).
Lastly we sorted through the volume history on coinmarketcap to find the 12 with the highest daily trading volumes.
What you see below is the list of what we consider to be the absolute best coins to use in any day trading cryptocurrency strategy that you may be using:
- Basic Attention Token
- Binance Coin
- Bitcoin Cash
- Ethereum Classic
The “Crypto Signals” section on moocharoo.ninja will be updated next week with our new and very “hush hush” secret trading strategy signals will be available to all Ninja Masters.
We shall also be introducing new and improved basic crypto trading signals for all (FREE) members as well!
Happy trading everyone :-)