Topic: Is there any reason to day trade anything other than bitcoin? - page 14. (Read 20936 times)
Well it's true that its more secure and more predictable when we trade bitcoin, but trading alt coin for short term is better, the price swing of alt coin is bigger than bitcoin, and usually people trade alt coin because its cheaper, and sometimes alt coin rising percentage can be bigger than bitcoin, if you have small capital you wont get much in trading bitcoin for short term
I have seen various professional traders state that it doesn't matter what asset or stock you day trade, the only thing that matters are the fluctuations, which is something I do agree with.
Overall, bots don't care what altcoin you are trading, so why would manual traders care? It's clear that when it comes to altcoins the worst coins without any idea behind them perform the best in terms of profitability.
One moment people are focusing on Litecoin for example, then directly hop over to Dash because there is more action happening, and more action means more potential profits.
Altcoins are preferred for day trading purposes because of how you can still bank on them with a small balance. If you lose a few % then so be it because you'll move to another coin to try your luck there.
Overall, bots don't care what altcoin you are trading, so why would manual traders care? It's clear that when it comes to altcoins the worst coins without any idea behind them perform the best in terms of profitability.
One moment people are focusing on Litecoin for example, then directly hop over to Dash because there is more action happening, and more action means more potential profits.
Altcoins are preferred for day trading purposes because of how you can still bank on them with a small balance. If you lose a few % then so be it because you'll move to another coin to try your luck there.
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.
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.
Of course, it is more better to trade altcoins rather than Bitcoin because of the more high gains you could get from it. But for more secure trading then Bitcoin is the idea.
There are no reasons, only aims. But answer on your question is yes, your best friend is coinmarketcap and some altcoin chart websites. It's hard to suggest you coins directly because such moments when daily trade worths are needed to catch on different coins. But on long term, for example take Ripple, last three years ripple rise more than 830x, from 0.004 to 3.32 and more.
Its not just BTC that us paired with USDT, this itself is a good reason already. If you can trade your ETH to USDT while the price spikes up then that's the same thing we did with BTC/USDT. ETH however don't burst up so much these day which is why its somehow risky. But there were months that spikes can reach up to 3-5%. There are more besides ETH.
Bitcoin is recommended for day trading you see this december btc grow a lot because many users buy and buy in that time then add the many ICO that run here in crypto and many gambling site too so the price of any digital currency are base in that another thing don't forget that crypto is worldwide so we are the price here and look also in ltc and eth because they can grow a lot also like btc
Not that good of a trader but here's my opinion:
Other coins and tokens has lower trade volumes and liquidity. So theoretically, they should be significantly more volatile than bitcoin.
Higher volatility = higher chances of price swings = higher chances of making(or losing) bigger amounts of money.
Thing is this though, if you do better trading bitcoin than other coins, then stick with trading bitcoin. You don't have to trade other coins/tokens because people are. At the end of the day probably no same person trades with exactly the same strategies. You do you. Just my 2 sats.
Other coins and tokens has lower trade volumes and liquidity. So theoretically, they should be significantly more volatile than bitcoin.
Higher volatility = higher chances of price swings = higher chances of making(or losing) bigger amounts of money.
Thing is this though, if you do better trading bitcoin than other coins, then stick with trading bitcoin. You don't have to trade other coins/tokens because people are. At the end of the day probably no same person trades with exactly the same strategies. You do you. Just my 2 sats.
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.
Volume is still volume whether it's traded manually by people or via bots. 
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 ;-)
Bitcoin and Etherum are indeed coins that have a very high level of popularity. Therefore, the level of risk in investing in Bitcoin and Etherum will not be too large.
I also believe that coinmarketcap can be our benchmark in investing.
The higher level of popularity will be closer to us in the opportunity to success.
I will always choose Bitcoin as the main coin in day trading.
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.
Day trading is much easier when we do it with bitcoins because as you said there is lot of price swings happens in a day and it also happens with altcoins as well but it is hard to predict the price of altcoins than the bitcoin.If you ask me never do day trade with any coins because in long term you will end up with earned nothing. 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 ;-)
I think a good rule of thumb is to have at least 1 full BTC before playing with alts... Also, this way you can impress nocoiners telling them "hey I have 1 bitcoin!!!" 
First. It is necessary to consider what size of deposit. After all, if a person starts trading for example with $ 1000 and he buys bitcoin for all money, he initially puts himself in a bad position. Since we all understand that having bitcoin is good, but it doesn't always make us happy with him price. Therefore, a person will be a hostage to his decision to buy only one coin.
The second. Yes, the price of altcoins depends on the price of bitcoin. But if bitcoin increases by an average of 5% of the cost, at the same time, a lot of altcoins gain 20-30% of the cost. Accordingly, the altcoins have the opportunity to earn much higher. Of course, if the price falls, this pattern plays against the altcoins, so it's important to be on the alert.
In any case, everyone chooses what is more convenient for him to trade with. Personally, I prefer almost always trade with altcoins. But I also remember to accumulate bitcoin.
The second. Yes, the price of altcoins depends on the price of bitcoin. But if bitcoin increases by an average of 5% of the cost, at the same time, a lot of altcoins gain 20-30% of the cost. Accordingly, the altcoins have the opportunity to earn much higher. Of course, if the price falls, this pattern plays against the altcoins, so it's important to be on the alert.
In any case, everyone chooses what is more convenient for him to trade with. Personally, I prefer almost always trade with altcoins. But I also remember to accumulate bitcoin.
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.
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.
Jump to: