Topic: Day Trading Pros and Cons (Read 184 times)
I can say that it is more beneficial compared to holding a cryptocurrency in the long term because of one reason and it is volatility. Cryptocurrency is really mean to be traded and not to be imvested not unless you have bought it in a really cheap price or you have built a base around it. The best thing you can do is to day trade as you can accumulate more coins during its volatility.
Is day trading more beneficial compared to long term investments in alts?
What are the pros and cons of day trading?
If a trader would like to answer, it would really be grate.
If you have good investment skills, investing in your day will be a good option for you to make a bigger profit. However, this also increases the risk of investment. Sometimes the money you earn in 3 or 4 investment easily disappears after a false investment. So you have to think carefully before doing it. What are the pros and cons of day trading?
If a trader would like to answer, it would really be grate.
I consider daytime tougrow to be more profitable than investment for a long time. If you have not guessed with the investment and the coin has collapsed, you can wait until the price rises very long (several months on personal experience). In day trading, if even something went net, then you can sell the coin in the micromine and take it off on another coin and earn further. At the bottom
For sure daytrading could offer tou more profit, if you got a fantastic skill, but it's too stressful to become a day trader because there are tons of work to become day trader, you must focus and search for a lot information to trade the coin and you will spend more time to keep on watching the screen to see the chart, long term investment is more enjoyable situation for me
I am not recommending it especially when you are working since you cannot watch the trend of the coins you are investing at from time to time, so make trading at least short trading just like weekly or monthly buy not daily, the transaction cost and the time that yo'll wait will cause you a trouble.For sure daytrading could offer tou more profit, if you got a fantastic skill, but it's too stressful to become a day trader because there are tons of work to become day trader, you must focus and search for a lot information to trade the coin and you will spend more time to keep on watching the screen to see the chart, long term investment is more enjoyable situation for me
I am not recommending it especially when you are working since you cannot watch the trend of the coins you are investing at from time to time, so make trading at least short trading just like weekly or monthly buy not daily, the transaction cost and the time that yo'll wait will cause you a trouble.
For sure daytrading could offer tou more profit, if you got a fantastic skill, but it's too stressful to become a day trader because there are tons of work to become day trader, you must focus and search for a lot information to trade the coin and you will spend more time to keep on watching the screen to see the chart, long term investment is more enjoyable situation for me
Pros of Day trading above traditional long term trade is that it can create huge profits in short term with small capital. If you are smart enough to do a technical analysis and have free time for trading then there nothing good than trading.
Con is It is never a win situation, Technical Analysis just helps you to predict the price movement, but in last your fate is the one that earns. Crypto trading is 24*7 so you don't have any specific working hours which can affect your personal life alot.
Con is It is never a win situation, Technical Analysis just helps you to predict the price movement, but in last your fate is the one that earns. Crypto trading is 24*7 so you don't have any specific working hours which can affect your personal life alot.
Day trading is viable way of increasing your funds.
you can start with low amount and gain a substantial sum overtime.
also markets are very unpredictable and instead of gaining funds you may lose them if you are panic selling
you can start with low amount and gain a substantial sum overtime.
also markets are very unpredictable and instead of gaining funds you may lose them if you are panic selling
Day Trading
Pros:
Low Investment needed.
Can get you fast money.
No need to block your capital.
and Cons:
Need skills and technical analysis skills.
More time is needed to devote, More stress
Day trading is expensive(in term of commission, right hardware and software needed etc)
Pros:
Low Investment needed.
Can get you fast money.
No need to block your capital.
and Cons:
Need skills and technical analysis skills.
More time is needed to devote, More stress
Day trading is expensive(in term of commission, right hardware and software needed etc)
With this kind of volatility we are facing in the cryptocurrency market I don't see any benefit on holding something in the long term without even trying to buy and sell in the process. Let us remember that cryptocurrencies are not a stock of a company in which there is no reason to do dollar cost averaging as there is no guarantee that it will only go up. We must always think of its volatility and how we can take advantage of it as it is our way on maximizing our earnings.
Cons:
-higher stress
-time consuming
-generally riskier
-more commissions to pay
Pros:
if you are good at it then bigger profit
-higher stress
-time consuming
-generally riskier
-more commissions to pay
Pros:
if you are good at it then bigger profit
I personally don't think day trading is a good thing to do at this stage of crypto..day trading needs a more stable environment like the stock market..crypto market is too volatile and this makes trading very risky...besides that i think that the best way to invest in crypto is to hold coins for a mid-long term..and wait for massive pumps to make huge profits 
Is day trading more beneficial compared to long term investments in alts?
What are the pros and cons of day trading?
If a trader would like to answer, it would really be grate.
What are the pros and cons of day trading?
If a trader would like to answer, it would really be grate.
I started my career as a long term investor in alts market.
As a long term investor, my highest achievement was over 72,000% gain only in a single coin. Unfortunately I haven't succeeded at the end due to my greed.
In my experience long term investment is very much safe if compare with day trading. If investments are in good coins then a handsome return can be expected.
Sometimes ago I also decided to start day trading and still trying, but the success rate is very slim.
It is for sure that day trading is not for everyone. It is only for high level skilled players, who knows what will be the next move of the market.
As crypto trading is not like forex, I don't mind when I slip to make a successful day trade. When I slip, that coin becomes my long term investment unintentionally.
A simple advice, do day trading with good coins only.
Advantage:
If successful, your money is not blocked. You can play around daily and hug your money.
This is the main beauty of day trading in my opinion. If blocked, you just can't hug your money for unknown period of time.
Disadvantage:
Time consuming, need to be patient, backbone pain, eye burn and other things mentioned by other members.
Is day trading more beneficial compared to long term investments in alts?
What are the pros and cons of day trading?
If a trader would like to answer, it would really be grate.
What are the pros and cons of day trading?
If a trader would like to answer, it would really be grate.
You can accumulate more coins if you are day trading and you have a trading plan in which you know when to enter a trade and exit as well. There are many people who do not want to day trade because they tend to panic buy or sell and at the end of the day it would have been better if they hold their coins. I can see so many instances wherein it would have been better if you buy and hold the coin because you could have sold it at a lower price but think also of the possibility that if you just hold your coins and it goes lower, you cut loss and then buy another coin which moons then you would have a better position. It depends on the coin you would buy and your strategy in trading that would determine whether it is more beneficial to day trade or not.
Is day trading more beneficial compared to long term investments in alts?
What are the pros and cons of day trading?
If a trader would like to answer, it would really be grate.
What are the pros and cons of day trading?
If a trader would like to answer, it would really be grate.
Well, if you know how to read the charts properly, you can make money on both the dips and and rises. Holding long term is a perfectly viable alternative if you don't know how to day trade though. If you're looking to get started day trading, I suggest looking into Bollinger bands to begin with. They're super easy to use, and you can get lots of trades with them.
Is day trading more beneficial compared to long term investments in alts?
What are the pros and cons of day trading?
If a trader would like to answer, it would really be grate.
day trading is more risky compared to long term investment in altcoin. So it make huge profit. It depends on your knowledge in trading.What are the pros and cons of day trading?
If a trader would like to answer, it would really be grate.
Pros: It improve more knowledge in trading and multitasking also improved.
High profit and flexible to work in anytime.
Cons: you always monitor in your computer.
It is one of the restless life. Because you should always aware in your trading and more difficult to find the best coins.
Day trading is need more skilled and more consuming times than longterm trading, and also need extra patient. So only trader can manage all of it can make more profit. But if you newcomer in altcoin trading for the better just doing long term trading so will be more easy and need less time and the profit can be higher. Just by buy and hold huge potential coin so will be easy to gain profit from crypto market.
Is day trading more beneficial compared to long term investments in alts?
What are the pros and cons of day trading?
If a trader would like to answer, it would really be grate.
What are the pros and cons of day trading?
If a trader would like to answer, it would really be grate.
Day trading is much more risky than the usual long term trading. Day trading is not recommended for a beginner who are fear on a losing side. But the cons here is you can earn more profit in day trading if you are lucky enough. Just only trade what you can afford to lose
In my opinion, Day trading is more profitable than long term trading BUT VERY RISKY, because in day trading an increase of 1-3% in price is already good enough to sell the coin and I can do about 4-5x trade per day. In my experience Day trading is more like a gamble because intensive research (or the purpose of the coin) does not matter at all, what matter is the current price. Even thou the price of the coin is stable for the fast couple hours it migth drop really low (or jump really high) any time. An increase (or decrease) of 1-3% of a coins can be determine right aways just a few mins (specially if the volume is high), if it increase you can sell it right away or if it decrease then you can wait for couple of hours hoping for the price to high again.
Actually it all depends to you and to your knowledge you can earn a lot from day trading if you have good experience and knowledge about cryptocurrency or you study different strategies in day trading actually but there's a advantage and disadvantages when it comes to day trading (Also in long term investment) but i'm going to discuss about the day trading, so here are the advantages of day trading.
Advantages:
- Low risk, because when you know that the coins price is dropping 5% or any percentage you can go out and cut your loses.
- You can earn in just minute if you buy a good coin.
- There's a lot of coin that has a potential and in just a matter of minutes you can earn through it.
Disadvantages:
- You need to stay in your computer every minute or second.
- Your money may lose in just a second.
- Low profit.
- When you invest to wrong coin (You thought it's going to increase it's value because that change is 10% and above but suddenly it starts to decrease)
So far here are some advantages and disadvantages i know. It is just all according to my experience when i try to do day trading.
Advantages:
- Low risk, because when you know that the coins price is dropping 5% or any percentage you can go out and cut your loses.
- You can earn in just minute if you buy a good coin.
- There's a lot of coin that has a potential and in just a matter of minutes you can earn through it.
Disadvantages:
- You need to stay in your computer every minute or second.
- Your money may lose in just a second.
- Low profit.
- When you invest to wrong coin (You thought it's going to increase it's value because that change is 10% and above but suddenly it starts to decrease)
So far here are some advantages and disadvantages i know. It is just all according to my experience when i try to do day trading.
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