Bitcoin Forum

Ive put my hand to trading alts a few times and made some profit, But for those of you who trade altcoins as their main source of income how much do you manage to make each week/month and how much collateral do you need for trading to try and earn this much per week.

If i was to live just off trading id need to be making at the very least about $400 a week just to get by, How many bitcoins do you think i would need to risk each day to achieve this?

Thanks

That's not easy to achieve and you need a lot of luck, because you can't do TA on altcoins and basically ups and downs are based on news, speculations, rumours etc...

Your post tells me: you can't

Yes there are, r0ach and spotnik. They are BTC and ETH whales, trying to buy as much eth as they can while its cheap.

i cant, but maybe others can?



I assumed there must be more than just 2 people out of the whole of bitcointalk who manages to make a living by trading though. r0ach and spotnik may have just been in the fortunate position of buying bitcoin in the early days and being whales these days so can afford to trade larger amounts. It would be interesting to know how much they make per week from trading and how much they have to actually trade to earn that amount.

Yeah, others can but it's not like that was many people. These markets are illiquid as fuck. Not really a lot to gain in alts anymore. Scammers and monkeys spoiled it.

you forgot.....a lot of smart people here too...so when t

i would love to do it, and in fact i was thinking about doing it a while ago but in the end i decided against it. because of two things: Risk and Stress

trading altcoin is not only risky business even if you are good at it but it is a stressful job and if you invest more you will have more stress which i don't like to have in my life.

At the moment im trading using about 0.7 of a bitcoin but trying to buy and sell at the right moment is tricky and even if i get it right I'm only making about 0.02 on a trade.  Which isn't very much considering the amount that I'm rising in the trade.  I'm sure others can make way more with alot less.

 Much more important: can you survive a bearmarket? I'd think not.

No, should i lose all say .7 bitcoins due to a bear market then thats game over. It sometimes seems like id be as well just going and playing dice rather than trying to play the market. I thought maybe someone who trades successfully would have commented by now but maybe a successful altcoin trader is actually a lot rarer than i though.

I am trading on two exchange daily but for some reason I cannot and will not post my earning let's just it's enough to get me excited and motivate to always look on the chart and see what people are posting on a coin's thread but trading is indeed very risky it's  like gambling,you must know when to stop and where to stop..

For you to make that kind of profits trading altcoins you would need to be a Whale. You would need to risk a lot of coins and to do it in a proper way you would need to have access to on time and inside information for all altcoins

exactly, if you want to make a living by trading altcoins you have to do it as your primary job not a second job or a hobby even (like me :) ) and to be successful you need a lot of experience with the market, a lot of time to spend, a lot of computer power to run bots, and many more. it is not easy.

It's like when every 20 something thought they could be a poker pro.

Afaik, the way you make money is buying into projects that have sufficient seriousness and hype backing them, when they are on a lull and their tokens are dirt cheap. Or buying them early into a pump that will grow and spread (as Ethereum did starting back in February). This purchasing opportunity can either be at the launch when not many people know about it (if it is a mined distribution) and/or after the initial pump such as after an ICO. Study the charts at coinmarketcap.com and see how all the altcoins have had these low price lulls.

Then you hold many of these and wait to sell them on the ensuing pump.

But you've got to be careful you don't pick duds that are mismanaged and disintegrate before being pumped.

And you need patience, meaning it can't really supply a steady income. Sometimes you'll be waiting a year or more for a payoff.

Also as another poster said, if we go into a severe bear market, then you the wait could be longer and your altcoins might die in that interim time.

The upside is you can probably average hundreds of percent gains per year on average. I'd prefer it to speculating on pink sheet stocks such as mining companies, because I can better gauge the potential of altcoins.

I haven't had time to analyze this one technologically, but its price and chart looks like it has the most potential to rise:

http://coinmarketcap.com/currencies/rise/

ShadowCash and Vcash also look cheap, but I have doubts about what they can produce. Don't have a lot of confidence in their marketing and technological focus. ShadowCash perhaps a bit better than Vcash, although Monero's cryptographer found a flaw in their anonymity which raises some doubt since that is the main feature focus.

Actually after quickly browsing the top 100 altcoin's by marketcap, I don't really see much to get very excited about. Ethereum was the next big thing, but then they hard forked it and basically demonstrated that their programmable block chain concept is flawed.

As for Steem and Synereo, they are not on a lull and I have my doubts about their concepts:

https://bitcointalk.org/index.php?topic=1480810.msg15538471#msg15538471

As for CounterParty, I recently explained it is flawed. Ditto all the decentralized file storage tokens, such as Storj, Sia, and MaidSafe are all irreparably flawed.

400$ a week = 60 $ days = 10$ x 6 hours of work or trading.

I think it's possible if you know what you buy, and when it's the right term to sell.

About how many btc you need, I think no less than 15-20 btc, and 2 btc as investment in trading tools etc etc

I will not say making enough for living as i actually bag holding some of the promosing alts and all i have is all btc stuked in alts. But the recent pump in Krypton (kr) price has made me enough today to cover this whole month of my expenses. I love holding krypton still holding half of what i have before.  ;)

I think someone can living with trading but its hard.. maybe someone are already achieve it.. honestly i am making a profit but not a huge amount..
Beucause i choosen well known altcoin than choosing to new shitcoins it may lose my earnings. just always relay in coinmarketcap and choose top 5 or 10 to invsest.. they are legit coins for me..

That is an example of one that could have been bought on the lull before the recent pump:

http://coinmarketcap.com/currencies/krypton/

I hadn't research that coin and it is in the top 200, so it is a lot of work to research all those 200 tokens.

It appears to be some clone of Ethereum, claiming more safety. So one could expect it to get this pump from its tiny marketcap. Whether it is serious enough of a project to sustain the move up to a $million mcap, I don't know. I didn't research it enough.

News is a small aspect of the prices going up, most of the time it small/medium altcons the price is pumped.
If you can predict which one is next, i am confident you could make a living out of altcons.

Right off the mark thats quite a big investment youd have to risk losing, Maybe the ones who make a real killing are those who have made previous big gains from bitcoin in the early days. I wonder if bots are essential in trading these days or if some of the bigger players just do all their buying and selling manually? Id be too worried that a bot could be influanced by other people messing with the price and end up costing you all your profit.