So I was running a test the other day on a new coin listing on an exchange.
Setting a bot and running a smart trade.
Thinking I was going to cash in big.
These things pump 50-100% in a matter of minutes.
I was running the maths in my head and I thought I was in for a solid payday.
Boy was I wrong.
See, what happens is that as soon as a coin lists on a new exchange it shows a massive pump.
But in reality, it doesn't.
See in the image above, there are 4 green candles.
This represents a pump.
However, when I matched the price action with the same coin pair on an exchange that had been trading the coin pair for some time, the charts didn't align.
So, I went digging.
Asking a few close friends.
Well, I found the answer.... or so I think from scraping every blog on the web.
What happens is, the coin commences at the discounted price it was sold to holders at the time of the ICO. (Initial Coin offering).
In this scenario, the coin was live trading on Binance at $0.10 at the time this coin went live on Kucoin.
If you take a look at the bottom of the first green candle, it's roughly sitting somewhere in the high $0.7's.
So, what happened?
Well, I still made a quick 10% as you can see it spiked quickly.
Banked the profits and went to bed.
Bots still humming and clawing back a small correction from a few days ago.
Video to come on that.
Quick money is a gamble and hard to come by.
This story proves it.
That is why I love botting.