I would be very interested in this. For those that do this full time as their job, what percentage of these traders would you say profit per year?
Obviously people who trade recreationally, the success rate is much lower right? But i would be very curious about this.
I'm also curious how much people would you say trade currency as their full time job? Most importantly, how much money would you guys say you need to make money trading coins? Let say you want to profit $50,000 a year. Would you say you probably need like $150,000 in free cash to do something like this? By that, i mean have $150,000 in your bank account/trading account combined in order to manage $50,000 profit a year? also would you say trading currency is easier/harder than those people who trade stocks? Because from it seems, its like most coins seem to go up right? How many total crpttocurrency coins are there right now? How many coins have failed where that coin no longer exists? Or do these coins just stay at 0 and still exist etc?
I also heard people trade currency such as usd/euro as well. is that harder/easier than stocks? What about compared to cryptocurrency?
Because it seems like as long as you get these coins when price is low and there is promise to these coins like they are in the top 10 or 15 list, well wouldn't it just be wise to at least buy them? Also if you use the concept of buy low and sell high, then shouldn't that you give you advantage? For example if ETH is $300. you buy 200 of them at $60,000. Now it goes up to $350. You immediately sell them all and profit $10000 minus the fees.. lets just say its 1 percent or 100 dollars. So you made $9900. But of course it could drop to $250 and you are down $10000. But basically just wait until it goes above the price and then sell. The issue with this i know is well a coin could just plummet and never go back up. But even if it does that, well it can always still go back though it might take a very long time. So imagine a person buys a lot of ETH, zcash and coins that have lot of good reviews from people, then shouldn't this give an advantage? Of course you arent going to buy some coin that has a ridiculous name like leocoin since nothing will probably come out of that coin.
Thoughts?
Too many newbie questions for hero member I guess.
There's no any guarantee in cryptocurrency trading obviously, you can't expect to buy altcoins at low and sell it at higher price as you've said it could drop and you will loss then. But, huge amount of capital has higher chance to get more profit as long as you invest on the right coin and be patient waiting for it rise up. Latest drop of ethereum around $210 and yesterday it could recover to $316, so whoever have bought ethereum as much $150,000 at $210/1eth and sell it at $316 already made $75,714 USD profits minus 1-2% fees, make sense to those who dare to invest such amount of money.