day trading - what's the catch? - page 5.

Pkofet

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Quote from: CEG5952 on July 12, 2014, 05:35:37 PM

Quote from: InwardContour on July 12, 2014, 03:42:47 PM

Quote from: Cryptopher on July 12, 2014, 08:49:34 AM

Quote from: Shogen on July 12, 2014, 08:41:36 AM

Quote from: Cryptopher on July 12, 2014, 07:14:27 AM

Well other things may have been happening in crypto around that time to cause a price drop, but it could be down to manipulation.

I think that a lot of people have it in their minds that a piece of news should have a massive, positive impact on the price whereas actually it can see the coins overbought and then dumped.

Look at when Litecoin landed on Huobi, people were talking of a $50 Litecoin, it hit $22 then tanked hard - it was overbought and whales dumped their coins on all the people rushing to buy thinking that it was going to make them filthy rich.

But I believe ltc has been oversold, and it has already reached the low at ~0.01 btc last week.

Yup, it's surprising how much Litecoin has dropped over the past few months. There was a time not that long ago where 0.035 BTC was the supported rate for 1 LTC. Then it dropped to around 0.025, and now it has nose-dived massively. It was believed that Litecoin would follow Bitcoin, both up and down, but that has definitely not been the case of late.

Bitcoin has been very strong - a lot of funds have moved from classic coins like PPC, NMC, LTC to newer coins like DRK and beyond. Daytrading is very risky, mostly when buying into rising prices.

There are very few uses for LTC other then speculation. If people have no way to use LTC then they have no reason to purchase LTC.

This is true only to an extent. This was true for bitcoin as well, at some point. I'm not going to speculate on how much infrastructure development we'll see in LTC, but for merchants and payment processors that are entering the bitcoin realm, LTC becomes quite accessible with little additional development needed.

True, but there is little benefit for bitcoin-accepting merchants to accept LTC (or any other altcoins) as it won't bring many new customers to them IMO.

CEG5952

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Buy and sell bitcoins,

Quote from: InwardContour on July 12, 2014, 03:42:47 PM

Quote from: Cryptopher on July 12, 2014, 08:49:34 AM

Quote from: Shogen on July 12, 2014, 08:41:36 AM

Quote from: Cryptopher on July 12, 2014, 07:14:27 AM

Well other things may have been happening in crypto around that time to cause a price drop, but it could be down to manipulation.

I think that a lot of people have it in their minds that a piece of news should have a massive, positive impact on the price whereas actually it can see the coins overbought and then dumped.

Look at when Litecoin landed on Huobi, people were talking of a $50 Litecoin, it hit $22 then tanked hard - it was overbought and whales dumped their coins on all the people rushing to buy thinking that it was going to make them filthy rich.

But I believe ltc has been oversold, and it has already reached the low at ~0.01 btc last week.

Yup, it's surprising how much Litecoin has dropped over the past few months. There was a time not that long ago where 0.035 BTC was the supported rate for 1 LTC. Then it dropped to around 0.025, and now it has nose-dived massively. It was believed that Litecoin would follow Bitcoin, both up and down, but that has definitely not been the case of late.

Bitcoin has been very strong - a lot of funds have moved from classic coins like PPC, NMC, LTC to newer coins like DRK and beyond. Daytrading is very risky, mostly when buying into rising prices.

There are very few uses for LTC other then speculation. If people have no way to use LTC then they have no reason to purchase LTC.

This is true only to an extent. This was true for bitcoin as well, at some point. I'm not going to speculate on how much infrastructure development we'll see in LTC, but for merchants and payment processors that are entering the bitcoin realm, LTC becomes quite accessible with little additional development needed.

Cryptopher

legendary

Activity: 1789

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Keep it dense, yeah?

Quote from: InwardContour on July 12, 2014, 03:42:47 PM

Quote from: Cryptopher on July 12, 2014, 08:49:34 AM

Quote from: Shogen on July 12, 2014, 08:41:36 AM

Quote from: Cryptopher on July 12, 2014, 07:14:27 AM

Well other things may have been happening in crypto around that time to cause a price drop, but it could be down to manipulation.

I think that a lot of people have it in their minds that a piece of news should have a massive, positive impact on the price whereas actually it can see the coins overbought and then dumped.

Look at when Litecoin landed on Huobi, people were talking of a $50 Litecoin, it hit $22 then tanked hard - it was overbought and whales dumped their coins on all the people rushing to buy thinking that it was going to make them filthy rich.

But I believe ltc has been oversold, and it has already reached the low at ~0.01 btc last week.

Yup, it's surprising how much Litecoin has dropped over the past few months. There was a time not that long ago where 0.035 BTC was the supported rate for 1 LTC. Then it dropped to around 0.025, and now it has nose-dived massively. It was believed that Litecoin would follow Bitcoin, both up and down, but that has definitely not been the case of late.

Bitcoin has been very strong - a lot of funds have moved from classic coins like PPC, NMC, LTC to newer coins like DRK and beyond. Daytrading is very risky, mostly when buying into rising prices.

There are very few uses for LTC other then speculation. If people have no way to use LTC then they have no reason to purchase LTC.

As was once the case for Bitcoin. As was once the case with the World Wide Web, mp3s etc.

InwardContour

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Quote from: Cryptopher on July 12, 2014, 08:49:34 AM

Quote from: Shogen on July 12, 2014, 08:41:36 AM

Quote from: Cryptopher on July 12, 2014, 07:14:27 AM

Well other things may have been happening in crypto around that time to cause a price drop, but it could be down to manipulation.

I think that a lot of people have it in their minds that a piece of news should have a massive, positive impact on the price whereas actually it can see the coins overbought and then dumped.

Look at when Litecoin landed on Huobi, people were talking of a $50 Litecoin, it hit $22 then tanked hard - it was overbought and whales dumped their coins on all the people rushing to buy thinking that it was going to make them filthy rich.

But I believe ltc has been oversold, and it has already reached the low at ~0.01 btc last week.

Yup, it's surprising how much Litecoin has dropped over the past few months. There was a time not that long ago where 0.035 BTC was the supported rate for 1 LTC. Then it dropped to around 0.025, and now it has nose-dived massively. It was believed that Litecoin would follow Bitcoin, both up and down, but that has definitely not been the case of late.

Bitcoin has been very strong - a lot of funds have moved from classic coins like PPC, NMC, LTC to newer coins like DRK and beyond. Daytrading is very risky, mostly when buying into rising prices.

There are very few uses for LTC other then speculation. If people have no way to use LTC then they have no reason to purchase LTC.

enhu

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Quote from: JerryCurlzzz on July 11, 2014, 01:53:46 PM

Quote from: Coef on July 11, 2014, 01:46:36 PM

Quote from: JerryCurlzzz on July 11, 2014, 10:21:21 AM

Quote from: enhu on July 11, 2014, 10:19:51 AM

IF a trader knows how to use the indicators in the charts like moving averages, RSI, MacD and stochatics, it will be easy for them to forsee where the market is going.. its what they call bull and bear movement.

easy? not so much. give it a try yourself! i found trading quite difficult...

Exactly.
Even for those professional stock/forex traders lose badly from time to time.

the key is simply to have your wins outweigh the losses. i have heard for prop traders that 60% win rate is good to shoot for.

Maybe someday we can see some developers creating EA for bitcoin trading. Forex traders decide when to buy/sell just when they see possibilities. of course its not easy that is why they have to educate themselves in pipsology.

But so are in stock exchange. if a sudden resignation of a CEO happen, you could your investment in a day.

Cryptopher

legendary

Activity: 1789

Merit: 1008

Keep it dense, yeah?

Quote from: Shogen on July 12, 2014, 08:41:36 AM

Quote from: Cryptopher on July 12, 2014, 07:14:27 AM

Well other things may have been happening in crypto around that time to cause a price drop, but it could be down to manipulation.

I think that a lot of people have it in their minds that a piece of news should have a massive, positive impact on the price whereas actually it can see the coins overbought and then dumped.

Look at when Litecoin landed on Huobi, people were talking of a $50 Litecoin, it hit $22 then tanked hard - it was overbought and whales dumped their coins on all the people rushing to buy thinking that it was going to make them filthy rich.

But I believe ltc has been oversold, and it has already reached the low at ~0.01 btc last week.

Yup, it's surprising how much Litecoin has dropped over the past few months. There was a time not that long ago where 0.035 BTC was the supported rate for 1 LTC. Then it dropped to around 0.025, and now it has nose-dived massively. It was believed that Litecoin would follow Bitcoin, both up and down, but that has definitely not been the case of late.

Bitcoin has been very strong - a lot of funds have moved from classic coins like PPC, NMC, LTC to newer coins like DRK and beyond. Daytrading is very risky, mostly when buying into rising prices.

Shogen

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Activity: 966

Merit: 1001

Quote from: Cryptopher on July 12, 2014, 07:14:27 AM

Well other things may have been happening in crypto around that time to cause a price drop, but it could be down to manipulation.

I think that a lot of people have it in their minds that a piece of news should have a massive, positive impact on the price whereas actually it can see the coins overbought and then dumped.

Look at when Litecoin landed on Huobi, people were talking of a $50 Litecoin, it hit $22 then tanked hard - it was overbought and whales dumped their coins on all the people rushing to buy thinking that it was going to make them filthy rich.

But I believe ltc has been oversold, and it has already reached the low at ~0.01 btc last week.

Cryptopher

legendary

Activity: 1789

Merit: 1008

Keep it dense, yeah?

Quote from: ?? on ??

Quote from: Cryptopher on July 12, 2014, 06:49:34 AM

Quote from: Pkofet on July 12, 2014, 05:57:30 AM

Quote from: Cryptopher on July 12, 2014, 04:43:27 AM

Day trading is so risky if you are not making informed trades. Of course, you can get lucky with some trades, part of day trading is having the balls to click buy and sell.

I am not sure if there are "informed trades" in the bitcoin world. Most of the time, the price just went up and down without any new market information.

There are definitely patterns that occur on the crypto markets that are unrelated to news. Sometimes the patterns that appear to be developing are spurious, but experienced traders that use charting techniques would have us believe that they can anticipate this.

It's a bit different to trading on the stock market, which is much more news driven. The crypto market is unregulated and therefore often manipulated by those with many coins who are in cahoots with each other. For small fish it is very much a guessing game, though there are some indicators which can help you make a bit of coin.

how do you explain dogecoins fall in price altough Josh Wise drove the Dogecar in Talladega? Cheesy

Well other things may have been happening in crypto around that time to cause a price drop, but it could be down to manipulation.

I think that a lot of people have it in their minds that a piece of news should have a massive, positive impact on the price whereas actually it can see the coins overbought and then dumped.

Look at when Litecoin landed on Huobi, people were talking of a $50 Litecoin, it hit $22 then tanked hard - it was overbought and whales dumped their coins on all the people rushing to buy thinking that it was going to make them filthy rich.

I gotta say, seeing the Dogecar (Racegod) on the track was comical.

Cryptopher

legendary

Activity: 1789

Merit: 1008

Keep it dense, yeah?

Quote from: Pkofet on July 12, 2014, 05:57:30 AM

Quote from: Cryptopher on July 12, 2014, 04:43:27 AM

Day trading is so risky if you are not making informed trades. Of course, you can get lucky with some trades, part of day trading is having the balls to click buy and sell.

I am not sure if there are "informed trades" in the bitcoin world. Most of the time, the price just went up and down without any new market information.

There are definitely patterns that occur on the crypto markets that are unrelated to news. Sometimes the patterns that appear to be developing are spurious, but experienced traders that use charting techniques would have us believe that they can anticipate this.

It's a bit different to trading on the stock market, which is much more news driven. The crypto market is unregulated and therefore often manipulated by those with many coins who are in cahoots with each other. For small fish it is very much a guessing game, though there are some indicators which can help you make a bit of coin.

Pkofet

sr. member

Activity: 406

Merit: 250

Quote from: Cryptopher on July 12, 2014, 04:43:27 AM

Day trading is so risky if you are not making informed trades. Of course, you can get lucky with some trades, part of day trading is having the balls to click buy and sell.

I am not sure if there are "informed trades" in the bitcoin world. Most of the time, the price just went up and down without any new market information.

Cryptopher

legendary

Activity: 1789

Merit: 1008

Keep it dense, yeah?

Day trading is so risky if you are not making informed trades. Of course, you can get lucky with some trades, part of day trading is having the balls to click buy and sell.

I wouldn't bother with inter-exchange arbitrage, it takes too long to send the coins, unless you already have coins waiting on the target exchange. It's all about identifying an exchange that has multiple fiat markets for a given coin - intra-exchange arbitrage is where it's at

WillyBTC

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I think bitcoin follows patterns similar to any other market. Market psychology at play, just as with any instrument.

wasserman99

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Quote from: Bitsaurus on July 11, 2014, 07:47:43 PM

Quote from: CEG5952 on July 11, 2014, 07:08:46 PM

Quote from: Bitsaurus on July 11, 2014, 05:26:40 PM

People are describing at least 2 different types of trades here. Trading crypto pairs can be risky because you can end up getting stuck in a worthless coin like XPM.

Trading BTC/fiat pair is only as risky as BTC itself. Your should really lose money except for trading fees, but you might miss out on a run if you're in fiat.

The trouble comes when you are trying to profit both in BTC and in dollars. Making $$ by trading BTC is very easy -- at least it has been historically. Trying to make $$ without losing coins? That takes skill.

Yeah that's called catching knives and guessing the bottom. Most people will fail at it. It does involve some skill to assess risk and look at some trends, but with Bitcoin there is lot more luck involve than trading something than an equity like CSCO or MSFT.

I'm not sure that I can agree. I would say that most people lose, yes, but that doesn't mean that that more luck is involved. Why do you think trading stocks involves more skill?

InwardContour

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Activity: 644

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Quote from: Bitsaurus on July 11, 2014, 07:47:43 PM

Quote from: CEG5952 on July 11, 2014, 07:08:46 PM

Quote from: Bitsaurus on July 11, 2014, 05:26:40 PM

People are describing at least 2 different types of trades here. Trading crypto pairs can be risky because you can end up getting stuck in a worthless coin like XPM.

Trading BTC/fiat pair is only as risky as BTC itself. Your should really lose money except for trading fees, but you might miss out on a run if you're in fiat.

The trouble comes when you are trying to profit both in BTC and in dollars. Making $$ by trading BTC is very easy -- at least it has been historically. Trying to make $$ without losing coins? That takes skill.

Yeah that's called catching knives and guessing the bottom. Most people will fail at it. It does involve some skill to assess risk and look at some trends, but with Bitcoin there is lot more luck involve than trading something than an equity like CSCO or MSFT.

The same is true for bitcoin as well. Although over the long run the price of bitcoin has risen sharply, however it has crashed and taken a long time to recover to it's previous peak.

Bitsaurus

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Quote from: CEG5952 on July 11, 2014, 07:08:46 PM

Quote from: Bitsaurus on July 11, 2014, 05:26:40 PM

People are describing at least 2 different types of trades here. Trading crypto pairs can be risky because you can end up getting stuck in a worthless coin like XPM.

Trading BTC/fiat pair is only as risky as BTC itself. Your should really lose money except for trading fees, but you might miss out on a run if you're in fiat.

The trouble comes when you are trying to profit both in BTC and in dollars. Making $$ by trading BTC is very easy -- at least it has been historically. Trying to make $$ without losing coins? That takes skill.

Yeah that's called catching knives and guessing the bottom. Most people will fail at it. It does involve some skill to assess risk and look at some trends, but with Bitcoin there is lot more luck involve than trading something than an equity like CSCO or MSFT.

CEG5952

hero member

Activity: 658

Merit: 500

Buy and sell bitcoins,

Quote from: Bitsaurus on July 11, 2014, 05:26:40 PM

People are describing at least 2 different types of trades here. Trading crypto pairs can be risky because you can end up getting stuck in a worthless coin like XPM.

Trading BTC/fiat pair is only as risky as BTC itself. Your should really lose money except for trading fees, but you might miss out on a run if you're in fiat.

The trouble comes when you are trying to profit both in BTC and in dollars. Making $$ by trading BTC is very easy -- at least it has been historically. Trying to make $$ without losing coins? That takes skill.

Bitsaurus

hero member

Activity: 873

Merit: 1007

People are describing at least 2 different types of trades here. Trading crypto pairs can be risky because you can end up getting stuck in a worthless coin like XPM.

Trading BTC/fiat pair is only as risky as BTC itself. Your should really lose money except for trading fees, but you might miss out on a run if you're in fiat.

HarmonLi

sr. member

Activity: 350

Merit: 250

Honest 80s business!

i used to day trade, but it made me miss a huge move in early 2013, and since then i only trade the major moves.

HigsonPP

full member

Activity: 196

Merit: 100

i don't recommend day trading. too much stress, too little gain. if you're going to trade, do it on the larger cycles. wait for the bubble, watch for crash, sell the bounce. then time your re-entry.

BowieMan

full member

Activity: 154

Merit: 100

Is there life on Mars?

the catch? most lose money. question is, are you going to be the majority or minority?

Topic: day trading - what's the catch? - page 5. (Read 7088 times)