Your theory is what I use and speak based on the experience, if you do daytrade you invest the profits in other altcoins that are promising, you can also invest in ICOS, as for the minimum value for daytrade, I think the ideal is even 1 btc because the profits are huge, but you can also start with $1000 that is good... with $1000 you can trade with ETH or NEO that are my favorites. The most important is diversify, do daytrade, buy and hold, invest in ICOs...
Topic: Daytrading If Not Enough Money to Buy More Coins? (Read 91 times)
I seen a few topics on this before buy i cannot find it. But let say someone has 5k or 10k they want to use to buy bitcoin/altcoins etc. Of course this could be 500 dollars or 1000 dollars. But let say this person has 10000 dollars to invest. He then buys btc, eth and several altcoins. Lets just name them lisk, nem and cardano. I just randomly named a few top 20 coins in addition to btc and eth. Now let say this person who invested 10000 dollars of this now has say 15000 dollars in total in all these coins. Lets just say every coin went up in profit but some a bit more than others.
Now this person wants to also buy other altcoins but to hold or trade it as they think the coin would go up fast then they sell to make profit. Or they want to buy btc or eth to hold. But the issue is they don't have enough money in their bank account to put more money in crypto. Like let say they want to invest 2000 dollars on a certain coin like walton to make it simple. But they dont have the extra money to spend from their bank account. But they also want to hold those coins they have in the list i mentioned. Well if thats the case, isn't the only way is to sell your coins to buy 2k worth of walton? Thus take 2k worth of profit you have by selling whichever coin to buy walton? The issue is when you do that, if that coin you sell goes up, well you lose out on it because you sold it to get another coin. But you dont have an option because you dont have extra money to use from bank account. Im sure lot of people have this issue such as i want to buy a bunch of other coins but i dont have the extra money to do this. So if thats the case, wouldn't it make to invest a certain amount of money in crypto but have a set amount for holding and trading? Like if you have 10k to invest in crypto, well take say 8k to hold... the other 2k to daytrade? Thus whatever profits you make from daytrading... you use that buy more coins? Thus the original 8k or so you don't touch as you plan to hold those as you believe holding will increase more profits?
If you were to do this, what percentage should it be? Obviously a much higher percentage should be holding vs daytrading right? But should it be like 80/20 or should it be a bit lower? Because 50/50 would seem very dangerous. But daytrading is a must if you want to have more money to invest in other altcoins right? Also how much money minimum would you say you need to set aside if you want to eventually make 5 figures and up from daytrading? I assume you probably need at least 2500 minimum right? It would be very hard if you start with say 500 or 1000 etc.
Now this person wants to also buy other altcoins but to hold or trade it as they think the coin would go up fast then they sell to make profit. Or they want to buy btc or eth to hold. But the issue is they don't have enough money in their bank account to put more money in crypto. Like let say they want to invest 2000 dollars on a certain coin like walton to make it simple. But they dont have the extra money to spend from their bank account. But they also want to hold those coins they have in the list i mentioned. Well if thats the case, isn't the only way is to sell your coins to buy 2k worth of walton? Thus take 2k worth of profit you have by selling whichever coin to buy walton? The issue is when you do that, if that coin you sell goes up, well you lose out on it because you sold it to get another coin. But you dont have an option because you dont have extra money to use from bank account. Im sure lot of people have this issue such as i want to buy a bunch of other coins but i dont have the extra money to do this. So if thats the case, wouldn't it make to invest a certain amount of money in crypto but have a set amount for holding and trading? Like if you have 10k to invest in crypto, well take say 8k to hold... the other 2k to daytrade? Thus whatever profits you make from daytrading... you use that buy more coins? Thus the original 8k or so you don't touch as you plan to hold those as you believe holding will increase more profits?
If you were to do this, what percentage should it be? Obviously a much higher percentage should be holding vs daytrading right? But should it be like 80/20 or should it be a bit lower? Because 50/50 would seem very dangerous. But daytrading is a must if you want to have more money to invest in other altcoins right? Also how much money minimum would you say you need to set aside if you want to eventually make 5 figures and up from daytrading? I assume you probably need at least 2500 minimum right? It would be very hard if you start with say 500 or 1000 etc.
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