I've been using much the same method as dasher, though I wasn't paying attention to the volume. I've also been looking at Reddit and AlexaRank.
I wanted to see:
- A big, professional looking team, maybe with a evangelical (Vinny Lingham) or high-profile (Bram Cohen, Vitalik Buterin) name
- A professional looking site
- An interesting offering, particularly if it's something likely to be of use to people involved in crypto, e.g. general decentralised financial platform (ETH), VPN (Mysterium). If it was something that is too far away from crypto-people like a decentralised stamp catalog or old people's home management software then I wasn't so interested. However, this bias has been an issue as it's stopped me from buying lots of things that seemed like junk to me like "Chinese Ethereum" (NEO) and the type of cryptocurrencey you might accept payment in for giving up Jesus (Bitcoin Cash).
The main signal is blind fuzz, but I've ignored that when I didn't like a coin and have seen others here do the same.
Other strategies:
1) Technical Day-trading - On TradingView, you can get this
analysis suite. This gives you a bunch of coloured candles for the charts which mean different things. Probably the most useful is the blue one, which you can see here:
https://www.tradingview.com/chart/NZDUSD...-Reversal/
You'll notice that this candle doesn't tend to wick down much over where it opens and it's often the start of a good movement up; though as it's just a technical indicator, it isn't always. Also you'll notice that when you do get a blue candle it's often a good sign that it's bottoming on whatever time frame you are viewing.
So this is a good low-risk, high-reward entry. So, buy it, if it does go up, leave it, but if it goes down 5-10%, take the loss and try again.
If you get two blues with only one other candle in between it's more likely to go up. Here is a chart of Bitfinex's new junk, Yoyow:
https://s13.postimg.org/u0pe4uadj/Screen...-58-59.png
However, with this, you need to be full-time. You need to be scanning charts all day. At your computer, with your price alarms, monitoring your bets.
2) Social Signals - The biggest signal is hype, but I'm not sure yet how to best read this. I've missed out on a number of big ones like RaiBlocks, NEO, TRON and ICON for various reasons. Not least there is too much data to take in. So I'm starting to aggregate social data here:
https://tinyurl.com/y7nuc3tv
* The coloured columns show % change in the metric over a time frame.
And will analyse it later to look into how it all correlates to actual price movements. You can see that the big coins that have struggled recently have had declining engagement metrics. Whereas those that have done well are still increasing.
I'm going to pull in some more metrics and then compute what they can be used to predict, i.e.
When Twitter, Reddit, Google/Yandex, Google Play, Alexa; mixed with volume and price signals; are doing X, the price goes up/down Y% on average over 1 day, Z% on average over 3 days with a divergence of A-B.
As an example, when Twitter followers are up 5%, tweets of the quote ($XRP) are up 10%, Reddit subscribers are up 2%, Google trend is up 6% etc. on 1d, the mean price movement is +23% with an upside divergence of 12% and downside of 5%.
)
But until I can get better data I am going to continue looking for $1K punts on small caps, hoping for a 10X; mid caps looking for 5X and hoping for an illusive 100-1000X.