You can`t compare day trading with holding.It`s like comparing apples with bananas.
If you don`t have any trading skills and knowledge and you don`t want to take more risk,obviously you have to choose holding.If you have trading skills and you can afford to lose some money,but get profits in the end then day trading is the right choice.
Topic: Daily trading or Holding Cryptocurrency for long time - page 14. (Read 1633 times)
Considering the present market situation, which one will be more benefiting whether Daily trading or holding cryptocurrency for long time? Please let me know.
I do day trading Bitcoin. But also I do trade for long-term only on altcoins. I just buy a ton of them and wait it out if they pump and I do try to separate them so that I will not lose all of them.
Considering the present market situation, which one will be more benefiting whether Daily trading or holding cryptocurrency for long time? Please let me know.
depends on you, but i prefer buy and hold. actually the market is down for the Bancor hacking issue. so its good time to invest in altcoin and just hold those coin. I strongly believe after a few months crypto market volume would raised again and we can gain a lot of profit from our holding coin. so i would tell you, buy and hold for a few months. you can gain a great from your holding.
Now i got a clear idea. Thanks a lot for your valuable suggestions!
Considering the present market situation, which one will be more benefiting whether Daily trading or holding cryptocurrency for long time? Please let me know.
It depends on you. As @butka said, day trading is like gambling and I agree with his/her opinion. I tried day trading too and I almost lost all of my money in it because I end up losing some of my money because of a huge dump of the coin. In this present market situation, I think its better if you will hold some coins for a long time and at the same time do some trading but not day trading. Maybe swing trading if you like it depends on you. Now that I lost most of my money in day trading, I often hold some coins and at the same time buying coins for the long term.
It (obviously) depends on the cryptocurrency in question. If you are convinced that a coin will appreciate in value over time, why would you risk day trading it? If you day trade, the short term fluctuations could ruin your profit if you don't know what you are doing. Even the most experienced traders suffer loses from time to time. Day trading is very close to gambling, especially if you don't know how to manage risks.
It is even more true if we are talking about the current market situation. Bitcoin has lost some value compared to the beginning of this year, but still IMO it's the perfect cryptocurrency to hold long time.
It is even more true if we are talking about the current market situation. Bitcoin has lost some value compared to the beginning of this year, but still IMO it's the perfect cryptocurrency to hold long time.
Considering the present market situation, which one will be more benefiting whether Daily trading or holding cryptocurrency for long time? Please let me know.
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