Altcoin is for day trading - page 7.

Vishnu.Reang

sr. member

Activity: 1988

Merit: 453

Quote from: qory on August 02, 2020, 11:06:18 PM

Keep waiting until bitcoin really on higher price to get moment for altcoin on the top price, but when looking bitcoin still up and down is not good moment for trading suddenly altcoin could crash lower price when bitcoin down, but after bitcoin break to higher price we can try to trading and keep get much profit.

This strategy is not going to work all the time. Altcoins can no longer depend upon Bitcoin for their survival. Cryptocurrency has been in existence for more than 11 years and it is shameful that even after all these years the altcoins are incapable of an independent existence. It is not surprising, given the fact that most of these coins don't have any real life usage.

diskodasa

sr. member

Activity: 337

Merit: 250

Quote from: MCobian on August 02, 2020, 10:19:42 PM

It is true that many people use Altcoins for day trading, because the price of altcoins is volatile and there are also many choices of altcoins,
make altcoins widely used for day trading. But there are some altcoins that support holding too, like Litecoin, Ethereum, Ripple, Stellar and
Binance Coin are very suitable for holding.

I prefer to choose long-term investments because day trading is often risky and does not suit my ability. Each person will have different ways to make money in this market but it is best to only choose the coins that you understand well so that you will know which price is reasonable to buy and sell.

A bull market is a good time to make a profit, but you should have a plan from the beginning and avoid greed when investing as this can make you lose if the market suddenly declines.

Aaroenz0r

full member

Activity: 504

Merit: 100

Option Blitz

Quote from: lienfaye on August 02, 2020, 11:22:58 PM

Quote from: ?? on ??

it takes a pro-trader to trade altcoin for day trading and make profits. actually you can hold altcoin for long but you have keep a watch on the project from time to time.

There are altcoins good for day trading and for long term so it depends on the coin you choose.

Some well established coins are good for long term like eth. But if you have enough time to monitor the market often then you can be a day trader. Yes prices are moving from time to time so in order to timing when to sell always check the price.

I agree! Altcoin is not only for daily trading, it can be for long-term holding also. Some altcoins have the potential to pump dramatically that can be more profitable for long-term holding. As far as I know, there are a lot of people who earn a lot of money thanks to the pump of altcoins. ETH is now increasing but to be fair, ETH can't have the potential to fly to the moon as altcoins since ETH already has a good value.

lienfaye

hero member

Activity: 3010

Merit: 629

Quote from: ?? on ??

it takes a pro-trader to trade altcoin for day trading and make profits. actually you can hold altcoin for long but you have keep a watch on the project from time to time.

There are altcoins good for day trading and for long term so it depends on the coin you choose.

Some well established coins are good for long term like eth. But if you have enough time to monitor the market often then you can be a day trader. Yes prices are moving from time to time so in order to timing when to sell always check the price.

qory

hero member

Activity: 1722

Merit: 508

Keep waiting until bitcoin really on higher price to get moment for altcoin on the top price, but when looking bitcoin still up and down is not good moment for trading suddenly altcoin could crash lower price when bitcoin down, but after bitcoin break to higher price we can try to trading and keep get much profit.

MCobian

full member

Activity: 1190

Merit: 117

It is true that many people use Altcoins for day trading, because the price of altcoins is volatile and there are also many choices of altcoins,
make altcoins widely used for day trading. But there are some altcoins that support holding too, like Litecoin, Ethereum, Ripple, Stellar and
Binance Coin are very suitable for holding.

qiwoman2

legendary

Activity: 2114

Merit: 1023

Oikos.cash | Decentralized Finance on Tron

Altcoins are good for the future of money in the long term but because of lower liquidity than other markets they can be easily manipulated by pump and dump groups and whales, so that's why people prefer to just day trade in and out of them. I personally like to grow long term bags but now am also trading a bit to grow my sats and use that money to get loans in Nexo or other DeFi platforms to leverage the USD to trade for daily purposes as a hedge against my stacks losing value in big swings and slippage. Unless you are good in TA, are in a whale group or have bots running..it's very hard to win in this climate..but it is possible.

Vitalicus

full member

Activity: 467

Merit: 100

DIA | Data infrastructure for DeFi

Quote from: elyas772 on August 02, 2020, 02:07:07 PM

Both ALTs & BTC is good for day trading. I find profitable day trading set ups in crypto . By playing both directions of breakout moves . Crypto is a young market so if your TA skills are good they will come true more often then traditional markets.

Crypto has a future ahead and investors are investing in this market more in recent years. I believe that investment demand in the next few years will tend to increase because this is considered a potential financial market. However, before engaging in crypto, you should have the right knowledge and proper investment strategy because any mistake can make you lose and this is a problem that always happens to you when participating.

coinswebid

sr. member

Activity: 1092

Merit: 250

Quote from: brawdias on April 17, 2018, 07:46:08 PM

I see that people support that altcoin suits better for day trading, and not for holding. I just don't get why.

for me if we can do both, thats better
because for a great altcoins project such as ethereum, monero and others, i think holding is the best idea my friend, i believe that

ZincUnrated

jr. member

Activity: 165

Merit: 1

I disagree... Most altcoins don't fit into the league of daily trading digital assets. Most of them are best viewed and trusted as long term investments or HOLD. Aside the more recognised altcoins like Ethereum, LINK, BNB, others can be very dangerous if engaged as daily trading assets. Always identify good altcoins and invest in them for the long term and most often than not, you will reap greatly.

BeginToMine

full member

Activity: 434

Merit: 101

https://www.payaccept.net/

It's not all long good altcoins hurts as I gave seen many that actually did well and surprised many. I have been holding awc and some altcoins when they were nothing and now it's reasonable so I would say if you want to hold long search for good altcoins and hold so as to make more profits. Not all altcoins are bad mate! Let's learn to do research and ensure we invest rightly.

elyas772

hero member

Activity: 756

Merit: 502

Both ALTs & BTC is good for day trading. I find profitable day trading set ups in crypto . By playing both directions of breakout moves . Crypto is a young market so if your TA skills are good they will come true more often then traditional markets.

bassbity

sr. member

Activity: 1092

Merit: 284

Quote from: Denongels on August 02, 2020, 11:01:09 AM

Quote from: Smitty Werben Man Jensen on August 02, 2020, 08:05:46 AM

from my experience, not always able to produce every day on altcoin, I play the spot market, not futures trading, usually I have a target every month, not always every day, of course there will be a risk, but if you put stop lose, you will be safe

for altcoin it is sometimes experiencing a season phase, but this year altcoin market is good, and as far as I have watched every day there are several different Altcoins that have increased and it seems good to look for daily profits.

True, this is the altcoin phase, which is experiencing better growth because of the current increase when market pumping occurs, altcoin will follow.
I don't know if this can be called the altcoin season.

Denongels

full member

Activity: 812

Merit: 100

Quote from: Smitty Werben Man Jensen on August 02, 2020, 08:05:46 AM

from my experience, not always able to produce every day on altcoin, I play the spot market, not futures trading, usually I have a target every month, not always every day, of course there will be a risk, but if you put stop lose, you will be safe

for altcoin it is sometimes experiencing a season phase, but this year altcoin market is good, and as far as I have watched every day there are several different Altcoins that have increased and it seems good to look for daily profits.

Smitty Werben Man Jensen

full member

Activity: 1568

Merit: 100

COMBONetwork

from my experience, not always able to produce every day on altcoin, I play the spot market, not futures trading, usually I have a target every month, not always every day, of course there will be a risk, but if you put stop lose, you will be safe

Vishnu.Reang

sr. member

Activity: 1988

Merit: 453

Quote from: rajakulam on July 25, 2020, 12:21:37 PM

Quote from: brawdias on April 17, 2018, 07:46:08 PM

I see that people support that altcoin suits better for day trading, and not for holding. I just don't get why.

altcoin investment has no prospects for long-term investment, so many investors and cryptocurrency lovers recommend to invest in daily trading.

If a particular cryptocurrency is not suitable for long-term investment, then you can always go for short-term holding, ranging from anywhere between 1 month to 12 months. What is the need to engage in risky day trading? I am saying this because many of the altcoins are heavily manipulated and the prices can swing by +/- 30% within a few hours. Unless you have an idea about the manipulation, it is very risky to be involved with them.

AzamNurWahid

member

Activity: 658

Merit: 20

but not all altcoin is used for daily trading, maybe those who say like that are those who already have experience. usually they only choose hype projects

minatour

member

Activity: 687

Merit: 11

Because there is no stable price for altcoins, trading daily will keep giving you more interest and it will minimize your loss if you are a good trader, compare to holding. Holding only yield interest if there is much pump of price which is likely to take time. So trading altcoins is better than holding.

Leah38

full member

Activity: 1078

Merit: 102

It depends on the holder of the altcoins and which atlcoins they are. There are altcoins worth holding for long term to gain more profits. For those who are expert traders, most of them do day trading and earn through scalping.

103deltafox

full member

Activity: 491

Merit: 100

Well it depends on the season, if bitcoin dominance is high there will be so much dip with altcoins so I think that period should just be for day trading,but when it's altcoin season ,then holding will be good as it can double your investment or even more,so know when to trade and when to hold.

Topic: Altcoin is for day trading - page 7. (Read 4327 times)