Topic: is it possible to have fulltime income with altcoins trading ?? - page 4. (Read 2993 times)

I think it is possible, but there is a lot of risk involved, more so than stocks. But there's a lot more potential. You'd probably need like $100k to start at least, and be prepared to lose.

I don't believe in a stable fulltime income by trading. You can be lucky and get rich or have bad luck to loose all your investment, like gambling.

In my opinion, YES .. if done carefully and taking help of experts.

also, one can check GUNBoT trading bot.. there are much satisfied buyers earning handful of income daily..
check thread
https://bitcointalksearch.org/topic/gunbot-automatic-poloniex-profit-generator-1715214

Price is 0.1BTC
Also, with code CYBER you can get additional 10% Discount

skill-dependent? How about luck-dependent?

it will be recommended if already have lots of hold coins, different and many in volumes. It will be a good idea to earn many if we got plenty of stock of it and considered the most in demand at that time to earn huge.

Yes but its the same as Daytrading with stocks.



Do you have the knowledge of doing this? Also you need a lot of capital for this. It's doable because this is a new market however you could also lose since alts are like penny stocks wolf of wall street style.

LOL, don't need become to whales for earning profit from trading crypto market. Sometimes, small whales still loss with chicken trader because they not have a plan or team for against the attack from trader after creating panic or pump coin. So, before decision they always calculated many times and find best reason can make trader into their trap

Well if we were knowledgeable in trading we can really earn a lot on it. But we still need to have first a lot of money to do so or we had hold plenty of coins to grab the opportunities of selling it when they pump.

Altcoin trading can provide you a very stable income, but it would be very hard to do that. It can also give you consent loss if you don't have talent for it, but if you have it would be very possible to gain regular income. You would need to invest a big amount of money in it, and you must be a whale, one who owns a lot if bitcoin, in order to do what you want.

If you wanted to make about 50000 usd a year... how much money would you say is needed to do this?   I say you probably need at least 250k?

Yes it is just try but dont expect to much with that. Be careful and be patience stay calm cause some of it are not pretty sure. So study first for it.

yeah it can bit for that you ll have to gain a lot of knowledge about alt coins

Thank freaking Christ. Someone with common sense. Great reply to a horrifically ignorant question.

What you're basically asking is if it's possible to sit at a poker table day in and day out and make a living from it.

Sure it's possible, but most people wouldn't last a week.  You have no idea where these shitcoins are headed, and with coins that can drop 99% in a day?  Yeah, good luck with that.

My suggestion would be to try it with a small amount and see how you do.  But I highly, highly doubt the average person can make an honest living just by trading altcoins--and I mean enough money to pay rent, food, car, wifey, and all that.  I seriously doubt there are many people here who can do that.

Yes it's possible but don't expect income everyday. Trading is a waiting game. You need to be smart when to buy/sell your coins.

Its possible but this thing would depend on how big is your bankroll on which you do make diversification on your money purchasing multiple alts which you can able to manage on making active trading possibly earn a percentage on a day trade but this would really matter on how good you are on doing trading. I can say its possible but it wont be an easy thing as it sounds. It would really require effort and skills on trading to make this thing.

Of course altcoin trading can net you a full time income given that one is committed to offer time and patience towards the same. Learning market dynamics and trends of many altcoins, knowledge of when to buy and sell are some contributing factors towards establishing yourself a nice income from altcoin trading.

It has pros & cons.
If you have not done trading before, there are more chances to getting lost. And if you totally depend your key money from trading you are getting a risk this time. Get more knowledge, experience and time, then it is possible to get regular income.

The first question you need to ask is are you debt free? If you do not have a house payment, car payment, student loans debt, or cc debt, then that's a good first step. The reason why this is important is because debt is the opposite of trading in that you are losing money just by keeping such debt.

The second question is do you have enough capital saved up to not only trade with, but to pay your living expenses for the next 12 months? It will take 12-24 months to become a consistent enough trader to develop a regular income. At first you may get some wins but then a loss comes along and brings you back to break-even or worse, a loss. You need time to develop the skills and patience to become a successful trader.

You should also have enough upfront capital to take advantage of trading. For example, if you had enough to control say 1000 ETH, you could actively trade 10% of it or 100 ETH and make $100 for every dollar Ethereum moves in price. This way you don't need to hope for those big $20 dollar swings, although they do happen. By being happy for say a $5 move, you can make a quick $500 and get out and be ready for either the market to move up or down, which you will need to be able to do on the fly if trade full time. The other 90% doesn't need to be in ETH, could b cash, BTC, stocks, etc., but is an example reserve amount you should have at all times. This way if you totally wiped out your 10% stake, you will have the psychological power to get back it as it was only 10%. If you are risking 100% of your wealth, one bad trade could end you.

its possible, but i think its important to have the income of source beyond altcoin, if you dont need to worry about money for living, it will be more wisdom and calm to make decision when tradeding