Bitcoin Forum

It would be interesting to see which kind of demographic presentation we have here. At least we are in speculation forum so I think that there is more than a fair share of day traders present. Also I think that we have quite a lot holders who are just interested about speculation but not acting upon it by making any buy/sell orders.

Time horizon is kind of a interesting subject as the views about the same matter can be very different depending on your horizon. I have seen that when speaking about stock markets or cryptos people may have broken phone phenomena going on just because of their different horizon. They may seem to speak about the same subject as what comes to the terms and common knowledge of the matter but still their views are very contradictory. Of course that is the nature of the speculation and the markets that people tend to disagree even if they know that both are speaking on a same time scale. Still some times there are discussions going on where disagreement comes only from the different horizon. Both of them just don't know that other one is speking about different time span than you are. If they would know there would not even be any disagreement. Actually it is even pointless discussion if other is speaking about intraday movement and another one about moves to happen within month.

I am someone who is not happy to wait too long. So when there is a chance to make a profit then I will immediately make a decision. For me a momentum will never come twice so we should really be able to make the most of it. It's a strategy and I think I'll be able to achieve what I want, some decisions sometimes require sacrifices and they are a risk to success.

I think that anyone worth their salt would be covering many different time spans but of course most people have an area they mostly focus. Generally I trade intra-day and look to make 5-10 successful trades per day. Sometimes the market doesn't allow that as volume or volatility is too low and then I have to look more at a few weeks or even months as a time span.

Day trading is very extremely definitely not for me. Most people wind up ruined very rapidly. My time span is years. I'm waiting until 2020 before making any significant moves. I still think that's when things will start to fulfil the potential they're promising.

I think it's important not to get stuck in to a 'I'm going to trade this often' mentality and instead to evaluate things on a consistent basis and make informed decisions. Sometimes it's appropriate to sell something you only bought yesterday and other times it's right to hold for years. I would say generally I hold mostly for some months before looking to sell but that's mostly because I buy ICOs and am waiting for development milestones.

As for the sale, I do not think for a long time if the price suits me, then I buy, but with the purchase of things are different there it is necessary to break your head about this decision and so everything lasts about 1-2 days

Same, i cannot / don't have the time to trade nor daily nor weekly. If i would do so, I have to quit my job. In fact to be honest, I made when the bitcoin price was at $18k what i made from my job in ~4 years without trading.
I will just hodl until $100k :P

Question for the boys/girls who are making intraday trades or even longer term orders. How closely do you watch the direction after you commit to open a position? I guess if you are making several trades a day trying to profit from the charts sawing within a range you close your position almost instantly if things start to go south? Also I think that with longer perspective you are willing to take some hit during the opened position as you might have some kind of feeling or TA about bigger momentum going on. Even if the position start to show negative effects at first you still think that after days or weeks depending on your horizon it will be going in the right direction. These both methods can be quite nerve wrecking. In the day trade you have to be on a trigger ready to make immediate actions if you wan't to minimise losses. then again on a longer horizon it can be really uncomfortable to see things go south and trying to figure out if the direction is going to change within your regarded time span or do you end up closing negative position or do you end up being long time holder hoping to gain back the position you once took.

I can say that I have been a holder. But I have been also curious to try some trades per day. Many times it shows some range sawing within 100-200$ during a day. If I guess only one of those right I would easily make more than current day job salary and still spend less than 8h at the office. I think I would still have bigger holding position but if it seems that I'm able to gain by doing some trades it could be beneficial to move more holdings to the trade positions. That way I would gain more from same swings or get same gains from smaller swings.

Question about your bankroll management. It is very essential part of poker to play tables which are appropriate size for your bankroll and there is even books written about the subject. I think that is essential in trading as well but I don't have any clear image on that. How do you more experienced guys manage your bankroll? Of course there is this golden rule to not to put more into the game than you are afford to lose but I think that there is some more insights in to that subject.

Same here. I don't know how some people seems to do it but its really working for them. I tried the day trading things and I ended up lossing some of my funds, then I had to back out. The coins I wasted can't be recovered but I definitely learnt my lesson, which is not to day trade again. Now, I am fully holding coins and brought out some coins for investing in any ICO which I have fully researched and worth it.

It's different to anyone and your lucky to find what is the most effective strategy for you. In my case, my time span in buy/sell is interminnent since I buy randomly, basing it on market's action. If I feel that the price is about or near it's pumping period, I buy. I also buy when prices suddenly changes from a high one to a relatively low one(dump). I sell when I feel a dump will occur or whenever there are serious bad news about btc. Somehow this is the best strategy for me but I suffer losses sometimes.