Day Trading or Long-term Hodl? - page 16.

bobelr

member

Activity: 285

Merit: 10

Quote from: boris1044 on November 13, 2019, 04:00:21 PM

Quote from: bobelr on October 17, 2019, 08:24:45 AM

Before now, I have always been getting it wrong about cryptocurrency. A friend recently opened my eyes to see how I could have increase little coins I have to fortune overtime by day-trading. But I am no that type. I had always thought I could only make fortune in crypto by hodling a certain coin for long.

13 months ago, I bought SNTR worth about $100 hoping that in few months I'll wallow in milliions of dollars like Ian Balina , but the reverse is often the case in the subsequent ones I bought. Sad fact, $100 worth of SNTR 13 months ago now less than $2.

Recently, I watched several videos of how to analyse a coin or token to invest in, gained some good knowledge of the basics. I discovered day-trading tokens like DX token and AWC could have actually make me what I hope to be If i had the right information. But its never too late. Yet, I am drowned in mentality that hodling for long can only be the fortune I hope for. Reason I need help.

long-term hold investing:

Pros:

Reduced tax rate thanks to long-term capital gains.
More hands-off than short-term trading.
Allows for cost averaging.
Forces you to research projects thoroughly.
Less paperwork involved for income reporting.

Cons:

You may miss out on large gains.
Not as exciting as day crypto trading.
Harder to make daily gains or income.

day trading:

Pros:

Potential for big gains.
Can potentially provide you a new income stream.
More exciting than a long-term holding.

Cons:

Carries higher risk than a long-term holding.
Higher tax rates.
More paperwork is involved.
You could end up holding a useless coin when it dumps.

Hope it can help.

Thank you for the headstarts. That's a bang of advice. But how could day trading make one end up hodling shit coin when dump? Since he sells everyday and keep track of coin.

bobelr

member

Activity: 285

Merit: 10

Quote from: Rcoinmoon on November 13, 2019, 04:01:54 PM

Hodl has not been fair to me honestly, I did alot of day trading in 2016/2017 and it was awesome but then I ran into a couple of lost so I had to go into buy and hodl, am still hodlin til this moment, please when moon?

Hilarious. But so sad a story. I know couple of guys who did ran into heavy loss buying and hodling BTC $18k .
One of them is still in shock. Another in coma. So pathetic.

bobelr

member

Activity: 285

Merit: 10

Quote from: qwertyup23 on November 13, 2019, 04:30:00 PM

Quote from: Gozie51 on October 17, 2019, 10:25:16 AM

Hodling can give you good profit but not in all cases, meaning not all the coin you hodl. Before hodling, you can check if the community is active and this is important. If the coin is in cmc, you can easily check there to know the direction that it is and how it can grow in the future. You have to study a coin before investing in it. I have invested blindly too and seeing price slump painfully.

HODLing is not as simple as what most people think. Most thought that by HODLing, you are actually earning passive income by letting the value of your investments realized through time. But in reality, you have to exert effort, patience, and skill in order to maximize your earnings through HODL.

On the other hand, day-trading requires extreme skill, luck, and patience. I have personally witnessed my peers who do day-trading as their main source of income and there are days that they are on the red. Day-trading requires large amounts of capital (depending on your profit goal or limit) in order to realize income. Although the rewards may seem tempting, it definitely follows a huge amount of risk at the same time.

I'd love to day trade. I will get some tutorials for it. Many of my friends make cool bucks from it. The time of loss is like 3 of 10. That's pretty viable with the right skill.

bobelr

member

Activity: 285

Merit: 10

Quote from: Killer_ Binance on November 11, 2019, 02:21:09 PM

In fact, there are many new tokens available today, DX and AWC are not bad tokens at the moment. But if you haven't done your research, you're likely to repeat the results as SNTR. And why don't you sell SNTR as soon as it drops a lot and still keep it to the present? You can learn more about BTC, it's growing.

Hahahaha nice. That's more reason I put on here for help analysis. Now I'm learning better.

qwertyup23

hero member

Activity: 2212

Merit: 786

Quote from: Gozie51 on October 17, 2019, 10:25:16 AM

Hodling can give you good profit but not in all cases, meaning not all the coin you hodl. Before hodling, you can check if the community is active and this is important. If the coin is in cmc, you can easily check there to know the direction that it is and how it can grow in the future. You have to study a coin before investing in it. I have invested blindly too and seeing price slump painfully.

HODLing is not as simple as what most people think. Most thought that by HODLing, you are actually earning passive income by letting the value of your investments realized through time. But in reality, you have to exert effort, patience, and skill in order to maximize your earnings through HODL.

On the other hand, day-trading requires extreme skill, luck, and patience. I have personally witnessed my peers who do day-trading as their main source of income and there are days that they are on the red. Day-trading requires large amounts of capital (depending on your profit goal or limit) in order to realize income. Although the rewards may seem tempting, it definitely follows a huge amount of risk at the same time.

Rcoinmoon

jr. member

Activity: 114

Merit: 1

The Decentralized TCP/IP Internet Protocol

Hodl has not been fair to me honestly, I did alot of day trading in 2016/2017 and it was awesome but then I ran into a couple of lost so I had to go into buy and hodl, am still hodlin til this moment, please when moon?

boris1044

jr. member

Activity: 42

Merit: 2

Quote from: bobelr on October 17, 2019, 08:24:45 AM

Before now, I have always been getting it wrong about cryptocurrency. A friend recently opened my eyes to see how I could have increase little coins I have to fortune overtime by day-trading. But I am no that type. I had always thought I could only make fortune in crypto by hodling a certain coin for long.

13 months ago, I bought SNTR worth about $100 hoping that in few months I'll wallow in milliions of dollars like Ian Balina , but the reverse is often the case in the subsequent ones I bought. Sad fact, $100 worth of SNTR 13 months ago now less than $2.

Recently, I watched several videos of how to analyse a coin or token to invest in, gained some good knowledge of the basics. I discovered day-trading tokens like DX token and AWC could have actually make me what I hope to be If i had the right information. But its never too late. Yet, I am drowned in mentality that hodling for long can only be the fortune I hope for. Reason I need help.

long-term hold investing:

Pros:

Reduced tax rate thanks to long-term capital gains.
More hands-off than short-term trading.
Allows for cost averaging.
Forces you to research projects thoroughly.
Less paperwork involved for income reporting.

Cons:

You may miss out on large gains.
Not as exciting as day crypto trading.
Harder to make daily gains or income.

day trading:

Pros:

Potential for big gains.
Can potentially provide you a new income stream.
More exciting than a long-term holding.

Cons:

Carries higher risk than a long-term holding.
Higher tax rates.
More paperwork is involved.
You could end up holding a useless coin when it dumps.

Hope it can help.

Kingairdrop

jr. member

Activity: 552

Merit: 1

Quote from: desticy on November 06, 2019, 06:37:41 AM

You can say anything, choose both of them means, first of all, choose daily trading. Because it is day trading that will take you the most time and effort.
In the case of an ordinary hold, we do not need to study charts, study indicators, build a strategy and follow it, minimize risks and learn to manage them, all we need is to buy coins as low as possible and wait.
Day trading is a full-time job.

Trading depends on the individual. As a daily trader, i am always glued to my system and i am very use to it since its the way i was trained and i cant see myself holding for long term. Daily trading brings excitement into your life through the adrenaline rush you experience while making those trades. I encourage you to learn more on hpw to trade daily and you will not regret it.

Mianae

member

Activity: 798

Merit: 14

Day trading is beneficial given you have trading skills but if there's no skills for trading, long term hodl is a good resort which isn't as good as we're made to believe it is. We can only try our hands on a few lucks hoping to nail one.

htsy585

full member

Activity: 573

Merit: 102

Quote from: adaora2323 on November 11, 2019, 07:06:20 PM

For me, day trading is really profitable only if you can find your way around the daily trading tactics. Holding is not really profitable compared to day trading. A profit I can make from day trading can buy X5 of what I should have held. So in most cases, holding is not really profitable.

Exactly! Is you have a sound knowledge in day trading? Why invest long term in coins. A good trader makes way much more scalping and flipping than waiting for bull which is now beginning to sound like a white elephant project ( although you can invest long term in your favorite coin but with proceeds from your day trading). Its day trading for me. Thats what i do anyway, closing trades at 5%-10% profits ;}

Eildosa

member

Activity: 572

Merit: 10

I also chose to trade. I used to think, like you, that only a long-term holding would make me rich, but that's not true. This strategy no longer works as it should. Now you have to work hard to get rich.

adaora2323

jr. member

Activity: 344

Merit: 1

For me, day trading is really profitable only if you can find your way around the daily trading tactics. Holding is not really profitable compared to day trading. A profit I can make from day trading can buy X5 of what I should have held. So in most cases, holding is not really profitable.

Alohadanc3

member

Activity: 1050

Merit: 10

Martian Swap - Anti Whale Measures New Yield Farmi

This two stretegy are very popular in this crypto space. I personally prefer long term hold cause i already have a job sonits hard to give time in trading. But day trading bis one of the most profitable way to make money in this world. But it needs a lots of knowledge and experience. Otherwise you gonna lose all your money. So be careful if you are going for day trading gather some knowledge first. And then long term investment bits also risky but it's also profitable with less time and less profit.

Firefoxx

copper member

Activity: 280

Merit: 5

This has to do with choice, that's what works best for you. Some projects are very good for long term hodl expecially when team have future plans and day trading is also good and risks but it's another medium of making extra income so both are good to go. But day trading gives me more profit than long term hodl.

Mammothcoin

full member

Activity: 336

Merit: 101

KoinPro

I do both, I have tokens I buy for a very short term and sell under hours and those I buy because I believe they are technically and fundamentally solid. Those that I buy and sell within days are those that have news/events that could potentially cause prices to rally then I dump them just before the event. If you don't have the knowledge of technical analysis, I suggest you stay very far away from day-trading, it's an easy way to lose hard-earned money.

liuqi

sr. member

Activity: 1092

Merit: 257

LuckyB.it is Back!

Just for trading also no one will suggest to go for day trading and learn the trading strategies. The question has been asked for the comparison with holding and day trading in this holding is the best option to keep your fund very safe.
Because crypto holding will make the expected reach in one. And we can move also above the value we expecting but rolling the funds we cannot assure that.

Memminger

sr. member

Activity: 540

Merit: 252

It really depends on a person’s preference especially when we talk about time since it is quiet a hassle to day trading if you are working 8 hours a day of a full time student. Personally, I would prefer Long term hodl since I can’t manage my time and dedicate too much in technical analysis, keeping up with the news circulating in the cryptoworld since we know that this is one of the major factors that needed to be able in becoming an effective trader.

key4co.in

hero member

Activity: 812

Merit: 503

Quote from: o.ogurlu on November 11, 2019, 08:56:07 AM

Daily trading can be more profitable than long-term investments. But I think daily trading is more risky. And you should have a good buy-sell strategy for your daily trading and have free time for researches. You also have to follow the market very well. So I choose long-term investment instead of daily trade, as I cannot follow the market very well and I don't have a lot of free time.

Day trading is more risky as you rightly mentioned, but I disagree when you say it can be more profitable since it depends on individual strategies. From experience, midterm trading favors me more even though I go long term on a few coins (usually not more that 5 at a time). The truth is that presently with the market situation, if you just depend on long term investment, it might not be the best investment approach.

Killer_ Binance

newbie

Activity: 7

Merit: 0

In fact, there are many new tokens available today, DX and AWC are not bad tokens at the moment. But if you haven't done your research, you're likely to repeat the results as SNTR. And why don't you sell SNTR as soon as it drops a lot and still keep it to the present? You can learn more about BTC, it's growing.

o.ogurlu

member

Activity: 910

Merit: 12

Daily trading can be more profitable than long-term investments. But I think daily trading is more risky. And you should have a good buy-sell strategy for your daily trading and have free time for researches. You also have to follow the market very well. So I choose long-term investment instead of daily trade, as I cannot follow the market very well and I don't have a lot of free time.

Topic: Day Trading or Long-term Hodl? - page 16. (Read 5315 times)