Bitcoin Forum

Hi guys,

I am considering whether I should be a coin holder, buy tokens and holder them for a long time or whether I shall be a day trader, trade coins on daily basis. If you are a day trader, what is the factor that force you to buy a specific coin? Is is an announced event, burn, conference? What is it?

If you have 8+ hours free every day then daily trader. You must look at that like regular job.

Watch out that you dont do that because any of 3E.

1E = Easy money
2E = Entertainment
3E = Ego

Daily trader job is hard and you must have at least 10.000 $ or more to make stady month income.

I post topic today on this forum about Ripple and why buy that coin this month, read that and you will know how I pick coins for daily trading.

All best to you.

cool thanks, I am glad you showed me another part of this amazing cryptoworld :)

it's best to forget day trading. i don't know where the idea it was easy came from, but it certainly is not.

most people will throw their money away in no time. even if you keep your head above water it'll dominate your life and you could lose it all in a few moments if you're not sensible.

with most coins if you'd bought them at the start of the year and done nothing you'd be sitting on truly insane profits. day trading's an increbible amount of effort with massive potential downsides.

I also don't think it's an either or prospect.  Put 80% of your coin into long term storage, put some BTC up on an exchange and experiment with going in and out of USDT.  Go to tradingview.com and setup a BTCUSDT pair and play with the chart indicators and until you get an understanding of the buy/sell triggers.

All that said, the fastest way to lose your coin will be to go all in without trading knowledge.  Best of luck to you!

Just be flexibel. If you want to focus about trading, just focus on profit. Day trading is risk and if you only want big money in the end, you can go to be holder.
My friend doing day trading but sometimes he hold his coin for a month. just focus to the profit.
For me, i'm not good enough for day trade and i'm not patience enough to hold certain coins for months.
But hey this thread should be on trading section

best thing is do both . hold some coins which you believe they will have good future at least 10x and rest do day trading

cool thinking about this as well. Pretty interesting, but lots of choices here

Day trading is a lot of effort and a lot of speculation and believe me if you haven't been doing it for a while you'll end up losing just like me.
So far I didn't earn much by trading except once or twice. I even tried arbitrage trading but ended up with nothing as well (check here: https://bitcointalk.org/index.php?topic=2182446.msg21959634#msg21959634).

It'd be much easier to hold some coins which you think are undervalued right now and have some potential to increase in the future.
I truly found that patience is the key to success.

Imagine buying litecoin in last march when it was for less than $4 and now it's for more than $50 that's more than 10x in six months.

@misa999. Why ask the people in the forum who we ourselves do not know how to trade. But let me share you my secret on how to know if you are a day trader or a longterm investor. First your objective is to day trade and to make a quick profit. Then if the trade went wrong and has become a losing trade, it is then that you decide to become a longterm investor.

I reckon that there is a lot of longterm investors today after the last crash.

I think its depends on what coin you would want to invest in. For example if you choosr to invest in ethereum you might become a hodler cause eth is a stable coin and its take a long time for the value to increase or you can invest in ico for expecting short term profit either to hold the coin for future profit. well any coin has their own advantages so you need to know what kind of coin and the condition of your coin wheter its fluktuating.

For day trading, watch new developments and be one of the first to buy in.
For holding buy serious coins with a real purpose or great technology.

Well people even ask the same thing for stock/option/futures/commodity trading as well. It depends if you have a time and mentality for it. Unfortunately I do not have either so I just hodl and take the profit after certain time. I would say if you have a time then give it a shot and do let us know your strategy.

Being an investor that keeps his coins to make more money if the method with the least risk. Day trading could end up bad for you.

I started out as a hodler and now I am slowly moving towards being a day trader. I hodled since 2015 and now I think I have enough knowledge of the crypto scene that I can become a day trader.

You should invest your 50% of your money to bitcoin and the other 50% should be used in your daily trading. Why only choose one if you can choose both them holding and trading crypto currencies are both worth it. While you have invested half of your money in bitcoin for long term to keep your assets and buy more if you ever get high profit in trading. Altcoins is only good for short term that's why its only good for daily trading.

If you have certain amount of backing, then diversify and invest into some sort of business to get a sustained income. With trading you cannot expect profit throughout, because the growth of the assets vary respect to time. Being a day trader is a good decision when you have the necessary backing to lead the same life as before without the earning from trading.

day trading is a great way to lose money, if that's what you're going for.

It depends on your budget, maybe you should try to achieve some knowledge before jumping into the trading pool, it is difficult if you didnt have any previous experiences on trading or in forex. If you dont have a good amount of money, then dont be a dailytrader, because you are only going to earn only a few dollars a day, and that is not worth for your time. Better to go all in hold and wait some time, and then invest your money on your exchanger account and start trading.

Actually, you could do both and be happy with it. You shouldn't limit yourself on becoming a SOLE holder or day trader. You could mix them and make good profit out of it. First thing, you should assess yourself and see what best suits you. What percent of your total capital can be allocated for long term holding and what percentage of it to day trading. Always keep an open mind about it. Being able to day trade AND to hold is the same as having a diversified portfolio. Assess yourself first.  ;)

I think you better hold some altcoin for the future maybe you can get some profit because price''s will increase if that's good project.

I think both are profitable like it depends on your perspective and preference.
When you day trade you'll have just a small but a sure profit while in holding the return of your investment is too long but definitely worth the wait. So just choose how do you want your profit goes to you.

Depends on how much time you can spare. Daily trader or even hourly trader requires so much time and attention, other than that you need to have good mentality. HODL is the most troublesome free, as long as you buy your coin in their discounted price not at their peak

Only you can answer your question.  I think these require different skill set, mentality and dedication.

I'd suggest you start as if you will be a HODLer then as you learn, try (with a small amount) to day trade and increase as you get more confident/experienced or withdraw if it is not for you.

A good coin is a requirement for the HODLer...you might not believe me, but they don't necessarily make good day trader coin.  Spotting what is good for each application can be acquired. Charts, historical data, news, etc. are tools you need to utilize.

Good luck!

HODLer or long term trading is better especially to those people who have a job. Day trading needs a lot of time and effort. You need to monitor your trades every minute. It's only ideal to those who don't have a job or have a lot of extra time. Also day trading is more risky than long term because in long term trade, you have your time and you don't have to monitor your trades too often. In day trading, you have to learn the timing because timing is the key to earn huge profits. In terms of profit, day trade is more profitable but it's more risky because there's no guarantee that you will make money. Day traders usually suffers from huge losses in their first few months of trading. It's a stressing job. While long trade requires only short time to monitor. It's a less work and not stressful job.

Everyone wants cash flowing in everyday but its possible if you have your own business and if you plan to accomplish that in trading, then you have to have a lot of time in staring at your PC monitoring your investment if you reached your goal for the day or not. Day trading is good way of earning money but with the  volatility if Altcoins and BTC, whales manipulation and fake news around, its hard nowadays to be a day trader. Just like what I advice to those who plans to be a day trader, set aside a fund for day trading and set aside a fund for long term investment and dont put all your eggs in 1 basket, I hope you know what I mean.

I think you should a hodler. When you ask this question, you're worring, one of the problems everyone have is they get into trading but get lost in all the information. Taking large losses is painful if you don't understand about trading. Hold some coins that you believe.

I think it is better for you to  be a holder.

As long as, crypt currency market grow, many of the coin's price is going to be bigger.

If this market has a low growth rate, the story is going to be different but but this market is showing rapid growth.
Thus, it is clear that if you choose normal coin, your investment gonna get almost same amount of the market growth rate.

Be a holder!!!

Holding in my opinion because you need to have a lot of time to be a day trader and you have to watch the market daily about 10 hrs.And moreover, trading involves a strategy that high investment high profit.so if you want to sustain as a trader you need more money to invest in. I prefer short-term trading as you don't need to spend more hours daily.Long-term holding is good too.

Here is two advice for you. One Advice is if you have a cool money That Means huge money then you can hold a coin and Two advice is if you have not a huge money then you can start crypto trading but first time you need to must check all this coin and you find out which coin is better for holding and trading.

I will suggest you to be hodler in major altcoins such as eth, xmr, waves etc. And for other alt coins look for dips to buy.
And trade for easy profit around %5*%10 this will make you happy. And exchange your profits to btc to stay safe.

its up to you if you are a safe player just go to be a holder if you are a risk taker go to trader.. but of course if you go to trade just study first lot of study trading has big amount to invest.

I really want to become a good day trader but it requires a lot of studying. I do not have enough charting skills. I think day trading is a very profitable way to earn profit. It is much more profitable than just pure hodling. Hodling is my main thing right now pending my skills-learning to day trade. I scalp a bit sometimes though.

I think you should give yourself the answer to this question. To be a day trader not easy and you have to solve is getting them or not.

Trader is a very smart and experienced guy with steel balls, who is working all day long. If you want to mix your live with crypto, if you like to study, if you have strong nervous system, if you have 8+ free hours per day then you are welcome 8) Overwise you should be a hodler.

There are four types of trader. Scalpers, day trader, swing trader and position trader. Scalper are those who buy on deep and sell it immediately after a few second or minutes. It is very risky and you may lose if it didn't bounce. Day traders buy a coin and didn't hold it overnight. Swing traders usually buy and wait for days before they sell to get better profit. While position trader are those who buy and wait for several weeks, months or years to get a huge amount of profit. Choose which trade you are fit base on your lifestyle and activities. I would recommend swing and position trading for better profit.

if you can do day trader then its good but if you can not selling at the price now, i think be a hodler is good so you can wait the price is back increase again. i think its not force me but i want to buy the coins after doing some research for each coins. i think if you want to do day trader then you should always check each coins so you can choose the right coins and you can sell it after you buy to make profit but its not easy because sometimes the coins can not increase soon after we bought.

I couldn't agree more about daily trading being too hard, risky and useless. Surely if one needs regular income from investments then daily trading is appropriate, but getting good profit is a lot easier when you are investing in a good coin long-term. With time, most of top cryptocurrencies grow in price and so the profit is almost guaranteed. Surely you'd better keep track on the prices anyway and check the news if your coin suddenly drops, but it's still a lot easier and requires less risk.

You surely should be long term holder if you don't have mountains of money already.
Day traders in the world do it for daily thousand dollars. You can never win something like that using 5000 dollars or something.

at the moment I try to ne a daily trader
but it takes rather more than 8 hrs per day
rather entertaining, but I am a bit tired
now I think over just holding some valuable projects

For me i prefer long term trading means to be coin holder since Now i have no much time to do day trading. If you only focus on trading without offline job, means you have more time then better you do daily trading. So you how much you win or lost in daily basis.

i prefer to be a long term holding, although i invest mostly in ico is where you are mostly going to see 10x,20x. in 3 month - 6 month period. day trading is too emotional to me, it makes you lose money

It depends on you look at yourself first if you are good at trading or holding because holding is not easy as saying just hodl! I don't think holding is the best. It is sure that some people make a lot of money from trading, why don't you be one of them

For me i bought any coin when enter the market and volume of the coin is high. Its telling me the coin is supported by many trader. But this is just newbi opinion.

I think you should be a trader, hodler will not make anyone rich though in my own opinion hodlers make the flow of coins stagnant which makes the coin's price lower, so i think with trading , you are helping the coin to grow and be active while having the possibilities of earning more.

it's hard daily work. Watch the news, choose coins, analyze for prospects. It is necessary to be stress-resistant. Such work is suitable as a time for a certain period of life. Earn capital, which can then be invested and with income from investment to live in pleasure

you should do both! trade coins that you buy at a lower price (on a presale or ICO) and sell them when the hyp is high. then if you find a few projects in which you see a real future, try to keep at least half your tokens because you never know how much the value could increase!

Both decision have positive and negative consequences! If you day trade you will be expose to uncertainties of trading. Day trade may not be profitable in the long run except you load a lots of cash. Hold could also make you to lose  opportunities!

It is all depend on what coin you got and how good is your skill in trading, if you want to take a safe step then just hold and pay attention to the coin, alt coin got a very high volatility, one minute is up the other minute can drop, but if you are a very good traders, it's better to daytrade because you can get a lot of profit

This is because day trading is more like gambling without limits. We don't know when we might get burnt. But we can still ride the wave with a proper stop loss to prevent further losses.
Large amount of money is needed to day trade or it is not worth the time spending on it.

It depends on what time can you give in making money if you can give all day then being a day trader suits you for you can observe and monitor the market at all times, but not all people can give all his time to trading so you can do a partial holding and trading or a full holding of coins investing is also good you can minimize the risk by having few trades.

Do both and you will see what do you like most.

you should conduct research and research to find out the answers you want. for me, I have done what you say. this is speculation in the form of investment or trade.

Invest your money to low-priced coins but with high market cap, and hold it. Trading coins on daily basis is not good especially at this time. A lot of coins and tokens are being offered by ICOs, and some people would try to invest to them. That will leave the altcoins to be stable at the moment. But after these ICOs are done, expect the altcoins price to rise up. I also recommend you to invest on altcoins like Ripple, NEM, and Steem. These three have low value as of now (so you can buy more of these coins), they have high market cap (ripple on 3rd, NEM on 7th, and Steem on 18th), and they have the potential to become more valuable in the coming years.

It really depends on

1) your available time - it's a job like any other
2) your knowledge of trading and analysis
3) the type of coin

Some coins are built with the hope of being the next bitcoin. I actually wrote an article about it here (it's short, takes only a few minutes to read) -> https://medium.com/@ludovic.vuillier/the-coin-that-wont-make-you-rich-dd3cf218430a

I'd love your feedback on it and good luck!

Depends on how much time you have.

When you hold you do your research , then you buy and wait.
With trading you invest and you have to keep track of it every day but you can make money everyday.You have to ask yourself can you handle the stress of losing a lot in one day?