Bitcoin Forum

I am a little confused here to determine what is a good coin for me to buy for daily trading and for long term trading because currently available a variety of alternative coin (altcoin) is very much but there are some coin that is not good and there is also a good coin for that please give me the tips to know how to see a good coin for daily trading and long term trading, I hope this is not just for me alone but it can be for the knowledge for new players who are still confused to determine which coin is suitable for daily and long term trading and why did you suggest that coin? :)

The answer to your question is nothing. Many alts are having unstable market and I bet that you don't want to lose on something that is not sure, although the result in trading is not sure also. But for a second thought, if you're finding a good coin that is good for scalping. I bet you need a trader that is pro that will give you an advice :).

For trading, to be honest I also do not really understand how to find a good coin, usually I always read and look for news, what coins are being discussed at the moment so I learn how the coin moves, and whether it has good prospects for trading and profitable or not either for short or long term, but usually trading will be more profitable for short term

there is no exact answers for your questions and you would not get good profit if only pick one altcoin for your profit source because in my view you cannot stick for one particular altcoin and all of it depend on the market situations you have to see all possibility to determine the price and to determine the exact time to buy and sell

It all depends on you, your practice and your trading approach. For finding the right coin for your day and swing trading style you should be practicing few trades with every top altcoins like Ethereum, Litecoin, Monero, Dash, Neocoin and afterwards you should write down your experience with them personally so that you try to express your emotions out through writing and by this way you will get to know which coin suits for day trading and which one is better for investment. Not every coin is tradeable by everyone few people trade Litecoin for day trading and Ethereum for investing purposes and I myself trade Neocoin for day trading, and Litecoin for investment purposes.

I don't think your question has an answer, cause the market varies and some coins are volatile. What could be 50% today can give -80% tomorrow.

The crypto economy is built on the idea of decentralisation and having this suitable coin would go against what cryptos want to achieve and with so many coins to choose from why stick to one ::)

For day trading you need to check the charts of the coin if it has alot of volatility or not .Coins that has too much volatility are good for day traders.
When it comes to holding you need to read and do research about a certain coin that you want to invest in. don't be lazy and read their white paper
look if the coins has actual use IRL and if it has potential to gain big partnerships. Also what  technologie they are using and how it's going to effect the crypto wolrd.

I am thinking that you are not clear in making the op post and your query. You have to understand the trading and long term investing coins difference because in trading you will not find the any coin stable in the market so you cannot have one coin alone as the long term trading coin.
Trading is completely depend on the short term changes on the every coins. You have monitor which is best on that day invest on that concern coin to make the profit

My answer is (ETH, LTC and monero ).
ETH:A currency with a relatively stable price rising in a short period,you can easily convert your free tokens "from Airdrop and others", low transaction fee and easy cash out.
LTC: Best currency for commercial use due to price stability (you can pay payment using it).[long term]
monero: The high privacy of this currency makes it rise in the long term.

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Altcoins so far are quite unappreciated, its value so not pump or dump the way bitcoin does so I cannot give any suggestions to which alt is goog for day trading but for long term trading  ethereum, litecoin and NEM are my choice you can check them, they have faster and growing technology they have also good supply and I think after some quite time they will hit the market and become valuable you just need to exert patience while holding them

I do not think you can choose a coin trade date and hold long days. Because basically two ways of trading and holding are different, you can not combine them. You can choose an altcoin that has a large price range to trade and an altcoin that has the stability and long-term development orientation to hold it longer. Investigate carefully before investing in a coin.

That’s right, I do personally think that it’s up to your thinking to make a coin is the best choice. Because as far as we know that all coins in cryptocurrencies market both have its risks, you’d better read a lot updating news. Most importantly, you should try your best to the coin you’ve chosen to know whether this coin is suitable with your ability, if you believe that your coin is a good choice, you definitely think your coin in positive way. You have many opportunities to know or find a good coin through your experience and your skill.

I would say you have to look at the following things to choose the Correct coin for Daily Trading.

Remember is does not only depends on Coin but also the exchange. Market spread comes from exchange you are trading on.

• Coin should have good amount of daily trading volume so that you can liquidate your position as soon as possible
• Coin must have quick transfer abilities
• Coin must have good user base
• Coin must have spread of wealth, So that there is no market manipulation by High Net worth Individuals (HNIs AKA Whales)

 

Suitable Coins:

• Bitcoin
• Ethereum
• Ripple
• Stellar
• EOS (Still in ICO Phase)

Everyone do have this kind of question and as a trader we do engage into coins which we do see we can able to profit of. Long term or short term no matter which timeframe if we are knowledgeable on what we are doing then expect there would really be profits but talking about which coin? Then no one would able to point you out considering there are lots of coins in the market as of now and knowing their prices are way too volatile which we cant really spot which is good for daily and long term trading.

If you're asking this queston then you have no idea what Trading is. The profits from Trading (short-term or long-term) come from the skills you have while Trading, there are no specific coins suitable for this practice, especially for daily trading, since they're all in an speculative, volatile and unpredictable market.
If you're a beginner, do some proper research and then start trading some of the well known cryptos in the market (BTC, ETH, LTC, etc).

Lol if you find one please give some information about it lol just kidding if it was true maybe that coin will be the next Bitcoin considering the daily uptime and the daily pump. The only way to earn more than you bought is holding as long as you can but only pick the solid ones and sure to have good team and look for transparencies.

From my experience only eth is suitable for daily trading and if you decides to use long tern period trade, I can say bitcoin, ltc and xmr. Most people will give you advice like I do but this is not the right time to start. We can see the chart and volume about crypto market and all go down. You should wait at least until end of February or if you see double bottom price action comes up ( use 4h - day - week ). Actually you can choose any coin you like because different people will get different result, just keep going and have a nice day.

practically any coin that has a large volume on that day can be used as a coin to trade in short term. it doesn't have to have a lot of volume every day of the year!
it can basically be some small altcoin which gets pumped in that particular day you want to day trade it. because what you need is volatility in short term and the bigger the better.

most people are saying the names of the big coins like ETH, but they are already pumped and big. the liquidity is high but most of the times there are not much movement and certainly not always. so it is best to not limit yourself to only one coin when it comes to trading.

I will first begin with long term trading. When it comes to long term I really dont use the word trading I think its much more of investing. So invest in something you trust. I have a variety of option but both have their pros and cons. You are the best decision maker for your self in this respect. I have some favourites like EDO, STRATIS, ADA, WAVES and XP.

When it comes to day trading. I think all of top 100 coins are available for this purpose there is no definitive answer to it. All of this depends on different times. Once TRX was my great favourite but now it barely shows ups and downs. There are plenty of coins in top 100 just see what is hot these days. I think ADA, NEO and XLM three of them are quite hot for day trading these days.

All coins with decent liquidity are good for trading, so there is no "one" coin for one thing, and another coin for something else. For day trading I would say you prefer some more volatility, since you will be doing short trades, so no point in doing if the price doesn't move at least 2% in a day (otherwise you would just be paying fees basically). For swings, you want some solid coins, that can't be pumped and dumped in a matter of seconds, otherwise you would be very expose, and could end up losing a lot of money.

I would recommand Ethereum as a very good alternative to Bitcoin. Ethereum has a strong financial ecosystem which keeps on growing.
I also recommand NEO because it will generate GAS which are a sort of dividend. So even if the price would collapse, you would still make some money. This one is perfect for long term trading coz you should be able to compound, which is the main key of a successful trading.

Hope this helps.

how about looking at the volume of the coin, then looking at the project to be planned or the running project and looking at the total supply coin can be one of a few simple methods to deduce from all the answers you have given? I see a lot of coins that have a limited total supply and have a good project using their own coins can be expensive like for example XRB, Bitcoincash, and others that have a coin under 50 million coin supply seems to have a very high price potential, the method I mentioned, the correct step or the wrong step?

I still think Ethereum is still the best choice for daily and long term trading before a new ATH occurs.

Well, surely, nobody an give you the right advice and the risk as well as responsibility is all on you. That's why I'll just state my opinion and nothing more. I think that the coin for long-term investment and trading should not be the same. Their properties have to differ. When looking for a long-term investment, one needs to explore the coin and project behind it (if any), analyze the price charts and roadmap to see whether the coin is becoming more expensive with time. A good example it bitcoin which has a strong tendency of going up no matter what and not having long serious price dips that can make people nervous. For trading you shouldn't care much about the project as well as the general tendency of the coin. The most important thing is regular cycles with the price going up and down. One person on youtube was explaining it on fair coin, which used to have regular fluctuations and so the only thing one had to do was learn how to follow them.
Good luck!

I think it's better to trade top 20 or top 10 coins it's good for long tram or day trading.in any case, if you lose the trade you can leave it to long tram hodling.

In my opinion,  of course that the best trade  will be in Bitcoin and Ethereum ( in a long term and daily trading) because   they will be always on the top of the market in the future,  the second  best  trade in digital currencies will be in the low price of different Altcoins and an acceptable value of Market cap ( Such as, Ripple , Cardano, Stellar, LISK, EOS ) ,because the profit in them will be uneven and more huge in the  future ( After 2-4 years).

many new coins are popping now and certainly will make us have a lot of options and to find a coin that is profitable for trading we must first learn about the coins, I think what you do is correct we have to learn about the project of the coin and how it costs in the future whether it will be profitable or not

The coins with too much of price volatility is better for the short term then only you can make money with it and the altcoins with stable price is better for long term trading.But it is hard to pick the right coins because nothing is predictable when it comes to the crypto currency world so you need little bit luck too so then you can make more profits.But only with the experience you can learn fully amount the trading if you  are new to trading it is better to start the long term trading 4 or 5 times a week then it may give some profits and once get familiar with trading just do what you want.

For trading and profitable or not good for the short and long term, usually trading will be more profitable for the short term, to find a good coin, I try to find information through the forum or through acquaintances and coins of what is currently a trend in the currency crypto and whether it has good prospects for me to invest.