Increasing Price action to be profitable HELP

Oshosondy

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Quote from: Nevaehp on May 07, 2021, 02:41:41 PM

Hi

what kind of daily dollar moves or increase in price action does a coin need to be profitable for day trading? Should I look for coins moving cents a day or dollars a day?? Well I'm guessing the higher the amount the price moves daily the better the trade? And I'm guessing you want sharp long spikes in increase price action instead of slow gradual increases? Sorry for the dumb question I just need clarity.

This calculation may not be in reality but just an assumption and correct.

If bitcoin price is $50000, you bought $1000 of bitcoin. As the price if bitcoin is increasing, the price of the coin you bought is also increasing. Taking below example for more clarity:

Bitcoin price Gain if $1000 worth of bitcoin is bought
$50000 $1000 No gain
$60000 $1200 $200 gain
$70000 $1400 $400 gain
$80000 $1600 $600 gain
$90000 $1800 $800 gain
$100000 $2000 $1000 gain

But if the price of bitcoin is reducing, that is how the loss will be also. The gain and loss is flexible with the price of bitcoin, slightest giqn or loss reflection even with the slightest changes.

traderethereum

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You need to figure out by yourself because we can give so many explanations to you but you will not feel comfortable to use one by one of the suggestion.
You should try to trade by searching the coins moving cents a day or dollars a day to know which one will fit you.
That is why traders need to practice their skills and knowledge because you will get various answers if you ask us.
I prefer to use both because my reason is to search for profit so if I can find the coin that can move a dollar a day, that will be better for me as my profit will be bigger.

GeorgeJohn

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Quote from: Nevaehp on May 07, 2021, 03:08:13 PM

Ok that is clarification. Thank you. So do I look at the price change percentage or the trading volume percentage? And what is classified as healthy volatility, can you give me a percentage range or example? Thank you much gratitude.

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Darker45

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I'm afraid it is not the movement really but your timing, your precise entry and exit. And your trading capital as well.

Whether a certain coin moves in cents or dollars does not matter. A coin that moves in cents means it's price is low, which further means that if you trade such coin it will be of relatively large quantities. Otherwise, your trade would be worthless. If, on the other hand, you are trading a coin which moves in dollars such as BTC, ETH, and so on, it means the coin is rather expensive. Therefore, your trading amount will also be lower.

famososMuertos

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hi,
In your question is the essence of why anyone enters cryptocurrency trading (losT), and they are generally of three types:
- With knowledge but without capital.
- With capital but without knowledge...
and the one that brings together the two previous ones.

And surely someone would say, obviously, but if you try to enter any traditional market with $ 100 to buy shares ... you can it?

So, it depends on your investment capital, but the crypto market is so flexible that with just a few hundred dollars you can get an "unexpected" return.

Assets that earn pennies require very large capital investments to see profitability in the short term, generally, but welcome to the crypto world; Invest 10,000 in a coin and in seconds `you can win $ 100 or + $ 1000, but you can have a return in red too.

Please!! document yourself better, or at least raise your more specific proposal, I have available capital "x" amount, I need to have a profit of 5% -10% -etc in a certain time, I am not interested in P2P trade, etc, I like the volatility, in short, many actually come to the market for the "doggy dream," okay, just be careful the dog can bite you, but if you want something safe, bitcoin, but you must learning bitcoin, yes! and then if it can be your best friend.

G.B.

hugeblack

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Quote from: Nevaehp on May 07, 2021, 02:41:41 PM

Hi

what kind of daily dollar moves or increase in price action does a coin need to be profitable for day trading? Should I look for coins moving cents a day or dollars a day?? Well I'm guessing the higher the amount the price moves daily the better the trade? And I'm guessing you want sharp long spikes in increase price action instead of slow gradual increases? Sorry for the dumb question I just need clarity.

The answer depends on the amount of the investment. If you want to invest small amounts, let us take for example less than a thousand dollars. Investing in currencies with huge market capacities may not be profitable for daily trading because it is rare for prices to move by 50%, but it is easy for some currencies with small market capacities .

Daily trading is dangerous and you need to have a broader knowledge of the market to profit from it.

Bitcoin_Arena

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Percentage price change matters much more than percentage volume change though volume can sometimes be used as an indicator to determine how strong the momentum of a certain trend is.

Coins with small prices (less than $1) tend to be more volatile than those with high price (like Bitcoin currently)

Coins with small marketcaps also tend to be much more volatile price wise since it's easy to shake up the price/clear all the order of a specific price range in the order book.

Nevaehp

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Ok that is clarification. Thank you. So do I look at the price change percentage or the trading volume percentage? And what is classified as healthy volatility, can you give me a percentage range or example? Thank you much gratitude.

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Quote from: Nevaehp on May 07, 2021, 02:41:41 PM

Should I look for coins moving cents a day or dollars a day??

This is dependent on the price of the particular currency. Bitcoin is close to $60k, so it's cent movement is barely significant on the market, while a currency like Doge which is still below $1 only moves in cents, but can spike by high percentages as has been seen in the last weeks.
You should be looking for one with healthy volatility in percentage rather than the currency denomination.

Nevaehp

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Hi

what kind of daily dollar moves or increase in price action does a coin need to be profitable for day trading? Should I look for coins moving cents a day or dollars a day?? Well I'm guessing the higher the amount the price moves daily the better the trade? And I'm guessing you want sharp long spikes in increase price action instead of slow gradual increases? Sorry for the dumb question I just need clarity.

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