Topic: Advice for Newbies - Day trading VS Long Term - POLL (Read 255 times)
I would advice long term trading for newbies because it gives them an ample time to get to know the crypto world before jumping into what could make them profit and gain more, and I'm sure that's what we are all after; huge profits. So before you get to where other traders are in right now, those newbies who barely know trading and the coins they are trading should educate themselves and of course the basics of being a trader. And by the time you have mastered the skills of trading then you can try day trading. And mind you, it is not only beneficial for newbies but also those who got into the cryto world and still wants to know more about it as well.
For me long term investing is profitable than trading which can give a short-term/day by day earning. It also depends on your lifestyle, if you are a stay at home buddy but needs to earn everyday trading is hood enough. But you have to watch in the coin's value from time to time and trust your instinct of the best time to trade. While in investing you will just hold your coins nd wait for it to appreciate.
Its up to you on how you monitor a coin if minimal i must preferred and suggested to you a long term trading because if you start in low value after a months or years for sure 100% percent of return but if you have a time to always monitor and want to earn even in a small amount it is day term. But i want long term for the assurance thar you earn.
There is no doubt that the answer is long-term.
Because short-term even if there are several volatility can let you earn 50% of the profits, but hold for a long time, maybe a year later, it was already x100 returns, so forget you bought the token, hold for a long time.
Because short-term even if there are several volatility can let you earn 50% of the profits, but hold for a long time, maybe a year later, it was already x100 returns, so forget you bought the token, hold for a long time.
I had a thread similar to this and the opinion of most people was in favor of LONG TERM HODLING. Day trading is not as easy as people think, you need some technical analysis skills and be up to date with news and happening in the crypto space especially pertaining to that coin you wanna trade. Likewise in long-term HODL, you need to be careful of the coins you wish to invest and hold.
Day and week trading will not give much of the profit you desire. The profit will come little by little and you may not feel it. I suggest long term investments because the profit you will earn, given that you chose a promising coin, will be evident. Also, for the reason that you are still a newbie, you might find it difficult to distinguish good coins from shit coins.
long-term trading is safest in all kind trading market. There have no fear up down market, daily trading fees, fud news etc.. Daily trading success if you have enough knowledge market, Chart analysis, in one without experience daily trading very risky.
for newbies, none of them are good options because they both have downsides and will require you to have a lot of experience to make it work for you.
generally i prefer day trading or at least short term trading because in long term i am expecting dumps for all the altcoins in their pump and dump journey. and there is not much of a future for many of them anyways and there are always newer better altcoins coming out which can simply replace them and them not having any real adoption makes them easily replaceable.
generally i prefer day trading or at least short term trading because in long term i am expecting dumps for all the altcoins in their pump and dump journey. and there is not much of a future for many of them anyways and there are always newer better altcoins coming out which can simply replace them and them not having any real adoption makes them easily replaceable.
In my opinion, some coins are suitable for day trading while others are not suitable for that. The price characteristics are the determining factor in this choice. I think ethereum and bitcoin would be really good choices for long term investments. Also I think, the coins which have below 1$ price may be suitable for short term trading.
I know this has been looong way discutated arrund here but I did not saw a poll for this and to know how the bitcointalk community.
A few words for your choise will also help, cheers!
A few words for your choise will also help, cheers!
The best option for a successful trader is the long-term investment. However, here you should prepare to be VERY patient. Once you can see your altcoin has grown, you can wish to sell it. Try to restrain yourself and wait for the bigger profits.
The problem with day trading is that if your trade goes against you you won't be able to pull your attention away from the screen. It can be consuming. If you're long term - HODLer, you can enjoy life and maybe check your prices once a day or two. good luck
Long term is the best options for all traders. Especially if the subject is newbies, no need another options.
Hold long term! Cash out on the big highs! Seriously, you could lose a lot more by trying to day trade. it's very hard to predict the swings and you have to be spot on to make profit that way.
If I were you, I would add a third option "Both". If you are a good trader you can keep a percentage of your profit long-term just in case...
If you are a bad trader you could trade fewer alts than the coins you hold.
In any case, having a plan and sticking with it makes it easier when decisions are to be made.
I am a bad trader so I'm trading only the 10% of my total investment.
If you are a bad trader you could trade fewer alts than the coins you hold.
In any case, having a plan and sticking with it makes it easier when decisions are to be made.
I am a bad trader so I'm trading only the 10% of my total investment.
It seems I cannot have the option to edit the poll but u are right , a small part could be left to be played. Even so, it takes time if you're willing to make the daily trades as well. I think it's really up to your skills and plans, cheers!
I also think so. At the beginning of the trading all make mistakes. Learn on small amounts of money. Understand what you need. I only trade in long term because of less risk.
Personally I am a long term investor, I sit on it and want to see it grow, hence why I don't day trade much at all. I have a full time job and I do not have the time / knowledge to trade day to day.
If I were you, I would add a third option "Both". If you are a good trader you can keep a percentage of your profit long-term just in case...
If you are a bad trader you could trade fewer alts than the coins you hold.
In any case, having a plan and sticking with it makes it easier when decisions are to be made.
I am a bad trader so I'm trading only the 10% of my total investment.
If you are a bad trader you could trade fewer alts than the coins you hold.
In any case, having a plan and sticking with it makes it easier when decisions are to be made.
I am a bad trader so I'm trading only the 10% of my total investment.
It seems I cannot have the option to edit the poll but u are right , a small part could be left to be played. Even so, it takes time if you're willing to make the daily trades as well. I think it's really up to your skills and plans, cheers!
If I were you, I would add a third option "Both". If you are a good trader you can keep a percentage of your profit long-term just in case...
If you are a bad trader you could trade fewer alts than the coins you hold.
In any case, having a plan and sticking with it makes it easier when decisions are to be made.
I am a bad trader so I'm trading only the 10% of my total investment.
If you are a bad trader you could trade fewer alts than the coins you hold.
In any case, having a plan and sticking with it makes it easier when decisions are to be made.
I am a bad trader so I'm trading only the 10% of my total investment.
hmm im newbie too . i think long term is better and more friendly . besides still a little experience and still much to learn . if it is experienced then can try daily trading
As mentioned above, both strategies CAN work, depending on how prepared you are for the situation at the particular time you're doing it. I'd advise any newbie to simply acquire BTC / ETH and hold them in the beginning until they really truly do fundamental analysis of any other projects they're interested in. Don't jump into anything you don't fully understand - not just the technology itself but figure out → how is the particular token / coin that you're buying used within the particular project you're putting that money into? This will go a long way into helping you understand the potential future value of the project and the token asset associated with it, itself.
For newbies - definitely long term.
I think day trading takes way more experience to even get started.
I think day trading takes way more experience to even get started.
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