The biggest fun in cryptos is riding the trading wave. There are people who make living just from thing called ‘day trading’. This is about watching signals, reading candles almost forex style. There are also other people – who pump coins for profits. Buy low, sell high. Here is how to technically pump a coin. This is just to explain how it works technically, how are buy orders made etc.
Pumping Altcoins
For starters – to pump BTC you need millions of dollars, to pump some small coin on Bittrex or Cryptsy – literally few hundreds can do. People who dont want to do pure day trading, choose some smaller coin, accumulate it and when time comes – buy it from themselves to pump the price. There are 2 groups of people – ones that do it to leave coin better [who never sell everything they have] and ones who will just kill the coin [90% scammers on twitter]. Coin pumped right will keep its value and the trick will be just “marketing” for the product, but pump and dump scammers will make people enter then drop coin to 0.
How to pump altcoins price – technically
For starters you need to choose main exchange where this will happen, with biggest liquidity. Currently most popular ones are Bittrex, Yobit and Poloniex.
While pumping coin on main exchange you need to follow on the others ones too – if you don't, then somebody will arbitrage you and kill your pump.
Method is simple – you do self buys and unlike what people think – you don't need a bot or even multiple accounts.
Most exchanges allow you to do self buys/sells on the same account – its your problem you do that and pay fees to them.
So technically, before pump starts you place your sell orders spread across the exchange .
On the left you start putting buy orders and in 90% you try to buy your own coins back. Of course around 10-20% will be others coins. Sometimes can be even 50% – all depends by how many % do you want to pump the price.
After doing that for a bit of time, you need to keep price at some level. This is called buy support. This makes coins stable at pumped price before going for ATH [all time high] and then going to where it should go naturally.
The math you have to do is – buy supports price vs price of your entrance vs final price of the coin.
The best way is to just choose how much you want to invest max [or loose!] and put all that on exchange. No adding cash later. This way you wont loose track of what you are doing.
Ethic in pumping
Well if you know financial markets – 90% things works are pyramids or pump schemes. This is how it is. The only good thing you can do is invest in good coins, help them raise the price and never destroy them. This way ecosystem will stay healthy and scammers will go away. Many coins are done only for PnD – but thats a different story and thats evil scam in full form. Be careful there have been a lot of PnD schemes around and have tied up neatly with those who create new coins in the market.
