Topic: Is there any reason to day trade anything other than bitcoin? - page 12. (Read 20936 times)
My reason is because bitcoin is not good for daily trading, and altcoin is a good way to get daily income from trading because bitcoin is the best to make a long-term investment
Low volume coins can pay off if they have an active community with future updates. I prefer to mostly stick with bitcoin but don't mind throwing a little bit at new projects.
Whale traders like to mess with these low cap coins because they are much easier to manipulate. At this point it takes a lot of money to move the bitcoin price. Why put all that effort in when they can make bigger profits with less capital?
Whale traders like to mess with these low cap coins because they are much easier to manipulate. At this point it takes a lot of money to move the bitcoin price. Why put all that effort in when they can make bigger profits with less capital?
certainly there is because we don't always trade bitcoin continuously, but we will definitely also look for other trading coins such as altcoin, because the altcoin is great to trade when the price of bitcoin rises or falls
Serious discussion please.
Obviously some alts can have significantly bigger gains than bitcoin when it comes to long term and bull runs, the last bull run from 6k to 10k for example, sure bitcoin was strong, almost a 2x but some of the top alt coins did more than a 2x even 3x. However that's only long term.
Short term I don't see any reason to trade anything other than bitcoin, especially knowing how little volume some of the other coins have, even top 10 alt coins, for example stellar only has 33m volume. So my question is, what's the point of trading stellar, for example, instead of bitcoin? You know that even if you are a whale and trade a lot, you wont be moving the market as much, if you have 1m and you trade stellar, that's already huge and we all know the 33m volume is probably not even real, a lot of it from bots trading.
It's also much easier to follow bitcoin because, well, the whole market follows bitcoin. Bitcoin dictates where the market goes.
First of all, short term or long term doesn't make a difference. If the coin is potential then it will rise no matter what the duration is. It might fall down but at the end it will surely rise.Obviously some alts can have significantly bigger gains than bitcoin when it comes to long term and bull runs, the last bull run from 6k to 10k for example, sure bitcoin was strong, almost a 2x but some of the top alt coins did more than a 2x even 3x. However that's only long term.
Short term I don't see any reason to trade anything other than bitcoin, especially knowing how little volume some of the other coins have, even top 10 alt coins, for example stellar only has 33m volume. So my question is, what's the point of trading stellar, for example, instead of bitcoin? You know that even if you are a whale and trade a lot, you wont be moving the market as much, if you have 1m and you trade stellar, that's already huge and we all know the 33m volume is probably not even real, a lot of it from bots trading.
It's also much easier to follow bitcoin because, well, the whole market follows bitcoin. Bitcoin dictates where the market goes.
According to me altcoins are good for short term trading while bitcoin is good for long term since it's volatility sometimes breaks bitcoins volatility.
I have seen coins going down in price in short term as well as long term and this proves that crypto market is really unpredictable.
The best thing to do would be to diversify your investment into potential coins so that if bitcoin doesn't rise but the altcoin does, then you at least get some profit rather than nothing.
I believe the best thing as a trader is to trade that which you understand its movement, not its NAME. Everybody must not be an expert trading Bitcoin. For real, Bitcoin isn't even a best coin to give a great ROI. There are a lot of altcoins with great ROI. It's just that a lot of people trade Bitcoin because they feel it's a coin with a proven record of not being abandoned or disappearing. That's all.
Trade altcoin will be promising higher profit, we can see alot of altcoin already going up to 100% -400% from the bottom but Bitcoin still stay in the bottom, in 2017 alot of altcoin the price was increase up to 50X to 100x in that year and this return is bigger than profit from BTC.
When Bitcoin uptrend others altcoin also will going up with bigger gainer, so we have to trade altcoin as well to make more profit, in 2017 alot of coin was going up to 10 times just in amonth and this gainer bigger than Bitcoin. And when Bitcoin overbought and will change to bearish we should be exit from the crypto market because all altcoin wll follow it and trade in others asset like stocks market. So as expert trader , we should be not only trade on crypto market but also in stocks market.
November 04, 2018, 08:29:24 AM
The main logic is that if you trade altcoins then you can make much more money. The chances of something that is already 200+ billion dollars reaching 20 trillion dollars in marketcap is very low however something that has 100 million dollars in marketcap reaching 20 billion in marketcap seems more doable. It is still quite difficult to achieve but don't forget ethereum was once 9 dollars (just 2 years ago) and today it is 200 dollars and saw 1500 dollars at one point. Something reaching from 9 dollars to 1500 dollars is the thing everyone is trying to achieve while trading smaller stuff.
Also altcoins believe it or not are more volatile than bitcoin, right now bitcoin seems more logical to trade but there was a point when people stopped dealing in bitcoins and not only moved to other altcoins but also started investing into ICO's to make x100 in profit.
Also altcoins believe it or not are more volatile than bitcoin, right now bitcoin seems more logical to trade but there was a point when people stopped dealing in bitcoins and not only moved to other altcoins but also started investing into ICO's to make x100 in profit.
November 03, 2018, 07:28:55 AM
Trading bitcoin alone is safer but less profitable for low capital traders, the most bitcoin can do in a day sometimes is 5% and it takes a long period to get such jumps, but altcoins though riskier have the higher tendency of making more profit over time, however at all time like this when their is still some level of uncertainty in the market, it is safer to stay in Btc or fiat.
November 03, 2018, 03:49:24 AM
Agree because the bigger the marketcaps, the faster your order will be filled on the market and it will benefit you more faster,
thats why I always trade on coins in the top marketcap, profits are faster and certainly much safer..
Care to elaborate on how this works? thats why I always trade on coins in the top marketcap, profits are faster and certainly much safer..
As far as my experience of trading goes, there is no guarantee of predictions of market unless you are doing the long term hodl game. If you are going for the top marketcap coins then the advantage is that trades will be quickly executed because their demand and supply is coming in much faster compared to other coins. But how does that make profits come fast? Profits would be individualistic depending upon what a certain trader has bought at and what they are selling at.
Serious discussion please.
Obviously some alts can have significantly bigger gains than bitcoin when it comes to long term and bull runs, the last bull run from 6k to 10k for example, sure bitcoin was strong, almost a 2x but some of the top alt coins did more than a 2x even 3x. However that's only long term.
Short term I don't see any reason to trade anything other than bitcoin, especially knowing how little volume some of the other coins have, even top 10 alt coins, for example stellar only has 33m volume. So my question is, what's the point of trading stellar, for example, instead of bitcoin? You know that even if you are a whale and trade a lot, you wont be moving the market as much, if you have 1m and you trade stellar, that's already huge and we all know the 33m volume is probably not even real, a lot of it from bots trading.
It's also much easier to follow bitcoin because, well, the whole market follows bitcoin. Bitcoin dictates where the market goes.
For me personally the reason I day trade coins other than bitcoin is because of the profits, even though you say the entire market follows bitcoin here only the bitcoin movement is not always jumping and also sometimes has to wait long to jump, so altcoins are another alternative for me to look for jumping and profit . Although indeed are a big volume it is very decisive when day trade even though there are many trading bots, but I am not too concerned about this. Obviously some alts can have significantly bigger gains than bitcoin when it comes to long term and bull runs, the last bull run from 6k to 10k for example, sure bitcoin was strong, almost a 2x but some of the top alt coins did more than a 2x even 3x. However that's only long term.
Short term I don't see any reason to trade anything other than bitcoin, especially knowing how little volume some of the other coins have, even top 10 alt coins, for example stellar only has 33m volume. So my question is, what's the point of trading stellar, for example, instead of bitcoin? You know that even if you are a whale and trade a lot, you wont be moving the market as much, if you have 1m and you trade stellar, that's already huge and we all know the 33m volume is probably not even real, a lot of it from bots trading.
It's also much easier to follow bitcoin because, well, the whole market follows bitcoin. Bitcoin dictates where the market goes.
Depends on the volume in my opinion. The higher the volume is the more a coin is suitable for day trading. But you are right, only a handful of coins in the top 10 are worth considering. Back in my day trading days I mostly traded BTC and ETH, but to be honest without any success. I simply didnt have enough time to watch the charts 24/7 ;-)
Agree because the bigger the marketcaps, the faster your order will be filled on the market and it will benefit you more faster, thats why I always trade on coins in the top marketcap, profits are faster and certainly much safer..
Everyday I checked biggest gainer and biggest loser in Coimarket cap and everyday all that listed is always Altcoin , that mean fluctuation of altcoin is more high than Bitcoin, and this is chance to make more profit. With higher potential profit also will be higher risk and we should be already have risk management.
September 22, 2018, 04:12:40 AM
I would say it depends upon the volume of the coin.
Also, few coins follow some progressions that you can look for and execute decent trades.
The difficult thing is to identify those movement and take the risk to place orders. You may see a downtrend but even when you buy it might drop even more. There is also possibility that while the uptrend is ongoing, you may sell but the price keeps on rising. The key point which I am trying to highlight is that one should not become greedy during such movements. Whatever price you buy at or sell at be happy with that. Otherwise you will panic buy or panic sell.Also, few coins follow some progressions that you can look for and execute decent trades.
I don't see any reasons why not to daytrade ETH or LTC (margin trading) or even some altcoins on Binance. Price actions is the same
If you have some important news that may have a good impact on the market and you already have some altcoins in holdings that you want to cash out of then its the reason. If you dont have any other coin then why bother. full member
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September 19, 2018, 01:39:50 PM
I don't see any reasons why not to daytrade ETH or LTC (margin trading) or even some altcoins on Binance. Price actions is the same
September 18, 2018, 10:53:39 AM
If we have purpose to increase amount of BTC we should trade that BTC with others altcoins, this way is risky so we should be carefull and make better prediction when time to buy and how many percentace of profit that we should be take it. We can see every day some altcoin become the biggest gainer. So trade BTC with others altcoin is way to increase BTC, and do not forget use stop loss to avoid big loss from altcoin crash.
People day trade for different reasons and some simply do not really look much into daytrading btc-fiat pair but would rather prefer to take advantage of the fluctuation with the altcoin market to increase their number of bitcoins. However, I understand what the OP is saying about day trading btc-fiat since the entire markets move accordingly with the way bitcoin moves, which is actually true, but that is in a downtrend, but we also have to understand that altcoins can move up faster sometimes to a great value compared to bitcoin.I have seen a lot of coins that you can easily keep increasing your btc stash with without stress and for what it is worth, I have seen that when I used to day trade altcoins, I tend to see more potential in gaining much more than just daytrading bitcoin. The only difference here is that you still need to use bitcoin as an indicator most especially when it comes to it making a move downward or whatever condition it is that results to an unfavorable one for the alts, and that makes it a lot of additional work to do.
September 14, 2018, 06:19:05 PM
I've definitely learned some lessons with failed trading. I think it's the hardest trading within one crypto, but a lot 'easier' if you trade from crypto to crypto. Recently I have had more success than not by doing this.
September 14, 2018, 03:08:03 PM
Agree, basically you can't trade most altcoins, they are just pump and dump, don't fit into technical analyses. Bitcoin is also less susceptible to human factors as it is not backed by anyone.
September 14, 2018, 02:08:40 PM
Its best to day trade bitcoin than any other coin. It has the biggest volume and when you make a good analysis, it moves in that direction except their is a news in the market. Always day trade bitcoin mostly
September 14, 2018, 06:00:41 AM
I would say it depends upon the volume of the coin.
Also, few coins follow some progressions that you can look for and execute decent trades.
Also, few coins follow some progressions that you can look for and execute decent trades.
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