Topic: Will you trade Bitcoin to buy Altcoins? - page 29. (Read 4177 times)

by thinking that way you will expose yourself to a high risk of losing all your money, in this crypto market if you are someone who has a lot of deep knowledge, lots of money that you can afford to lose and patience, then you can be very successful man. because you will not invest and be afraid of losing money. Of course this applies to bitcoin, because it has altcoins that are a real heartbreak


you should have been lucky, see how most altcoins fell and probably many of those altcoins will not recover their price

Its not a bad idea to shift from long term with Bitcoin and leave some for long term and do short term for the meantime because that’s what I did last year too. And I did make some profits with the right alternate coins I did short trading with or maybe I was just lucky that time when most altcoins were increasing.

In the first place, you will not think of a way like that if you don't see any positive output in the end.

Planning a strategy really needs an execution to see what will be the result so yes, to answer your question, you need to do it on actual. Now that you have some sort of plan then test it and managed it properly on the way.

There's no one here that will tell what should you do. Trust your own strategy and hope that you execute it properly.

If it is the risk you are willing to  make then why not.
But I tell you this. I have seen irregularities of when the bitcoin price will move. It could be later or maybr tomorrow. We can just make assumptions like this because of the silence for like a month or two of bitcoin. I sense boredness here and I think it is normal. I do have the same feelings in some time.
Do it if you have the courage but there should always be an extra for bitcoin. Some should be left at the wallet just in case.

As long you have asset and strategy to try, why not?. I believe your post another way to grow up asset & skill, create alternative to make money and should try different strategy. Trading/ investment is art, we can't see by pieces but see as big picture. For now, I'm ready to trade altcoin using my bitcoin, I see chance to grow up.

bitcoin is too popular now a days of crypto currency. and bitcoin popular all around the world. you have got bitcoin you just hold it for few days and wait for growth it. and altcoin not sure when it will be grow up but anytime pump bitcoin. altcoin is too risky. you can hold bitcoin one day it would be grow up.

Your math is completely true but that one needs courage to follow. It is obvious thing that quantities over quality works best in the crypto currency market. As you explained with an example that how little volatile can help boost the earning for heavy quantities of X coin that we are holding. Its all about the smart math applied here. Bitcoin on the other hand has got huge value right now and practically a general investor can not really buy more than single bitcoin in a day! That is also a lot but just consider an example. Then also if it moves by X % then the profit would be so much less. So yeah follow that strategy and we are good to go for the profits.

As i understand you right you are currently holding bitcoins and you want to daytrade altcoins for better profit than from bitcoin itself. To do it you want to sell bitcoin to $ and use $ to trade altcoins. In my opinion its not the best strategy because:

1- altcoin fallow bitcoin (they are only multiplier of its price) - https://bitcointalksearch.org/topic/m.39704417
2- daytrading needs experience and time - if you will drop bitcoin to $ and 2 days a week trade to altcoin im sure you want have better ROI than bitcoin.
3- most altcoins are traded only with bitcoin. So to buy them you will have to buy bitcoin again and altcoin for it.

Check out this strategy than.

You still hold bitcoins but daytrade it in pair btc/alt to increase your bitcoin amount. You dont try to earn 500$ on altcoin as you said because in the same time bitcoin could earn 700$. In fact you will end up with lower ROI.
In this strategy you are still holding bitcoin and try to earn sat by sat from each trade by that you can be sure to have better roi than bitcoin itself (because from each trade you have more bitcoins).  When bitcoin is growing faster you will see it on chart ALT/BTC and jump back to BTC and when altcoin is growing faster you will also see it on chart and jump to altcoin. In this strategy you maximazie income as far as you bealive in future of bitcoin - as current bitcoin hodler i assume that you are.

To gain experience in trading/daytrading you need to do as many trades as you can. Thats why start with the lowes possible bet (0,001btc ~ 6$ on binance) and do as many mistakes as you can and learn from each. There is no magical path that you can learn from books and jump on market with big bets be 100% right and earn labo in week. As not experienced trader you will do lots of mistakes. Make sure your learning will be as cheap as possible.


Price does not matter. Its just marketcap divided by circulating supply. And there are altcoins with higher price than bitcoin - project X for example.
Check out this -i explained it better https://bitcointalksearch.org/topic/m.37787537

You cant expect that iota would ever have the same price as bitcoin because there is 162 time more of iota coins.

Nope what if the alt-coin goes down too then it would cost more than what you would lose when you just hold your Bitcoin,
It is really a great plan but it is also a risky one I tried it before I have some good times and some bad moments in that move .

Cryptocurrency is volatile and the best strategy applied to this market is the intuition and basic instinct, technical analysis seems not working sometimes although it may sounds stupid but sometimes it works. So if we think that altcoins are profitable for a given period of time then why not ride the waves and buy some portion of it and do trading and then re-invest back to bitcoin since it is the sure thing for long term holding.

Hi Buddy, I'm not really good at trading but I can give you some advice. Buying these Altcoins will put you in big risk, we can say that ofcourse they might get you big profit but it's not also impossible that the opposite one happens. Holding these Altcoins is just like holding Bitcoin, I can tell that because their prices are both volatile but it is still much relieving if you Hold Bitcoin for short terms or even Long terms than Altcoins
. 
@fillippone was right.
By the way do you mean "by" in that "buy"? I get confused at the first time I read it, but I get it now.
You might be having a good time for now but holding cryptocurrencies is like a battle, sometimes you have to lose no matter how good you tried. But I'm glad for you having no trouble about it, well if you feel that you won't lose, then just keep it up.

But OP, I'm just telling you, and it is still up to your choice if you want to proceed. It's just really risky in my thoughts

I definitely will and that's what I'm currently doing. I hold more altcoins rather than Bitcoin. The price of BTC now is still the highest in the market and I believe that I will have more profit in the future if I'll invest my money in quality altcoins so whenever I have BTC, I use it to buy more altcoins.

I am thinking of diversifying my portfolio, so i have to sell some bitcoin to buy altcoins. As a part of my strategy, i am planning to buy some established altcoins and some newly listed altcoins.

Unless you are a very experienced trader, I strongly suggest you not to do that.
Altcoins pose substantial risks, even in day trading: subpar exchanges, vulnerabilities of all sorts, poor liquidity that can damage your profits.
Greed is good, but I think you can fulfill it with bitcoin.
My two cents,
F1

I was looking at the possibility of investing in several Altcoins as part of my trading by selling off Bitcoins. I do feel that with proper planning and execution, the profits that could be reaped through these Altcoins by day trading in a week would be far superior to that of Bitcoin.

It is true I am talking in terms of a short term gain. BTC is certainly a long term investment but what about the short term gains? As an example, even if I invest in 1000 coins of IOTA or 10000 coins of NEM, I am assured of greater volatility in the market for these coins compared to that of BTC. If NEM makes a high on a particular day even by 0.05$ USD, I would make 0.05x10000 = 500$ USD in a day if I sell all my coins at that price.

Of course, trading does involve many other practical factors which make things not as simply as I write here. But being a pro I can simplify the complexity and say that it is certainly possible to make it so.

But will this not be a way to make decent income every day? When you invest in cryptocurrency, it is a need for one to continually observe the market trends. When one is able to understand the intricacies of the market then it is better that he takes up (day) trading.

After all it is important we make money on a regular basis apart from the long term investment isn’t it so?