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Day trading has a lot of risks if compared against mid-range or long term trading. We can't predict the price for short term as even after we buy the coin, it might start dumping and in such situation we might always need to hold the coin until we see it rising again. Day trading is meant for extremely volatile coins with high trading volume. Research is always needed if we tend to have profits. Investing randomly in any of the coin for day trading will only give loss.
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Hi folks,
Willing to start considering this option to make some decent profits. I have a short experience, but none in cryptocurrencies.
I have been using Bitstamp for trading (very satisfied with it). Now willing to try arbitrage:
-any software available?
-any recommended exchange to use with Bitstamp?
-any other tips?
Thanks for the constructive replies.
Some people talk about Cryptocurrency arbitrage like it’s easy, but it is not. When you start you will get to know what I’m saying, but with proper training you will get to know how to do it better. You buy a cryptocurrency on a lower price and then sell it immediately for a higher price on a different market. You might want to read an article on medium that explains everything about arbitrage, here is the link cause I don’t have time to explain it. https://medium.com/@danmartin555/cryptocurrency-arbitrage-how-does-it-work-2230c1ee271f |
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Newbee here. Please guide me.
Which is more profitable in the long run, Crypto trading or online betting ?
If you bet with that money you’re likely to lose it. If I were you I would look for a coin that is worth investing for a long time, like Litecoin, Bitcoin, ETH, Ripple and the rest of them I’m sure would bring profit later on. Invest in any of these coins now that the market is down and have Hodl for a long time till bull run comes and you can cash out a huge profit at last. Maybe you can buy BTC now and hodl. |
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Is the XRP really better than ETH ?? can be seen now ETH descends to TOP 3 sites https://coinmarketcap.com and XRP goes up to TOP 2. how do you think it is true XRP is better than ETH Last year if anybody asked whether XRP is better than ETH you would have said that ETH is better. That’s it, any coin can fall at anytime and this has been the thing ETH – always falling but getting up at last. So I don’t believe that XRP is better than ETH just because it dropped and XRP took over, I won’t b surprised if next year ETH takes back the position. |
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Market downturn is probably one of the main reasons why ICO projects can't last long and joining their bounty program is useless and a time waster. Due to the fact that the market goes into nosedive, ICOs are forced to cash out some funds in order to survive. However, it is not enough which is why some of them decide to cancel their ICOs and return the funds of the investors. It means if you have promoted their ICO way back then as a bounty hunter, your time and effort was put to waste. You might be given tokens, but dormant and unusable.
Been there, done that. I have experienced a lot as a bounty hunter in which all of my hardwork (even some stakes are average to high, sometimes low) was put to waste because of their sudden cancellations, closure of their ICOs, and the worst part is that when we fall of those programs with fake team or so, they would run away with the investors' funds and our reputation would be affected due to promoting them on social media or so.
On top of that, most of their tokens are going downhill the day they started integrating themselves in centralised or decentralised exchanges. Even if they choose to lock it on a certain period of time, it's definitely no use because they're still affected by the dump in which everything is unregulated and uncontrolled.
The future of ICOs and bounty programs are at stake due to the market downturn, and it goes even deeper than that. It looks like it'll take years for us to see the bull run, or maybe no chance at all.
If you are participating in any ICOs or joining as bounty hunters, what do you think about this? Let me hear your opinion on this guys! Thank you.
I don’t really know if it’s right for anyone to blame you just because you unknowingly promoted a bounty you thought was legit and at last it turned out to be something else, they don’t really have to blame you for that, cause you yourself won’t be getting paid as well. Well, I think you should be careful and know what kind of bounty you’re promoting, don’t just jump in so you don’t get yourself in trouble. |
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Last year ethereum also experienced a decline as it is now, but to my knowledge does the price not fall as badly as this? how could this happen? what is behind it?
Some analysts has said that Ethereum will go up again and when it does, it’s going to be big this time around. Ethereum always fall badly, if you check the history you can see what I’m telling you, anytime it falls its always like this… just like before the last bull when it was hacked and all that and a lot of people lost hope in it. This time around it might also be the same. |
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For example, you have some altcoin (in my case it's Metaverse ETP) and you expect it to grow. But in a weak market, this altcoin behaves like bull and you have the opportunity now to sell it and buy an asset that looks weak in the market (for example Qash, Tierion, Nem, Odyssey or Republic Protocol) in order to get the greatest possible profit. Or leave a strong asset and wait for its further growth. What do you think about this?
Eeehm… I do make use of diversification but not all the time, cause most times you will discover that it is just a waste of your time, and buying only Bitcoin would have been better. Well, you got to buy altcoins sometimes, but what I’m trying to say is that too much of diversification does not help and you might even end up buying altcoins that are not worth it. |
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Friends today I checked the market in the morning and it's just awful, falling, falling, and falling again. What altcoins do you think should be kept from top 10 or buy or drop part of the portfolio and keep only Bitcoin and possibly Ethereum that has fallen? As much as I understand this year it's better to hold?
A lot of people who don’t know much about altcoins would decide its best for them to hold just Bitcoin and that’s the truth. Bitcoin is more reliable than altcoins, though sometimes you might gain from altcoins, but bitcoin is always the best for those who don’t know much yet or don’t understand how altcoins works. And if you want to know whether Bitcoin will rise again, it will, just hold. |
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Whether you are a day trader or you trade once in a while, you have to align yourself with the smart money, not the dumb money, surf along side the whales,not against them, trading is war and you have to choose your battles correctly
For some people all they do is to keep buying no matter what, even if the market drops to a very low price they will still continue to buy and buy till when the price goes up. But not everyone can do that, it’s only those that have money that can be doing such a thing. For traders who don’t have much money, you will have to calculate yourself carefully before taking any move. |
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Ok neither of these are easy but as a long term strategy to do think its best to day trade and try and get 1-2% a day or invest in a couple of coins and try and get 20% over a month
None of them are easy. It’s easy to say but it’s not easy to do. How do you plan on going for that? Through a short term trading or long term Hodl? If you Hodl to make 20% to 30%every month, you wouldn’t be sure it that’s going to work cause price can be something by the end of the month. Short term trading is even the most difficult. |
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HODL is the best option now for all my altcoins. I will keep Hodling till the bearish market is over. Everyone was thinking that bull run will start toward the end of the year, instead, there is a consistent reduction in price. Let keep hodling next year will get better for everyone.
I want to know what you feel, is there still hope for the remaining 18 days before the year end?
I don’t think there is any hope for the next remaining days of December 2018. The year will end without any bull run. I already knew what was coming cause I never expected the bull run to repeat itself twice in a roll. It just happened in 2017 and you shouldn’t be expecting another one in 2018, I wouldn’t also be surprised if it’s not 2019, but let’s hope that it happens. |
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Hi guys , can you tell me which is better option for trading Bitcoin or stocks and how
You don’t trade stocks here, you trade them on forex and binary. And as for which is better, they are both good, but since you’re here why not focus more on cryptocurrency. By the time you dedicate more of your time and invest rightfully you will start making the level profit you need. Stock is good too but I’m not into that. |
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Most of us that come into cryptocurrencies trading have this in mind that when bitcoin is in bearish trend we are loosing money and that is why we are seeing thread of loses in this bearish market. Few know that you can trade usd/bitcoin and make money in this bearish trend all you just need to do is change your analysis from what you are used to to what is happening now and you will make money.
I’m still making money in this bearish market but there’s a huge difference between what I was making before than what I’m making now. What I’m earning this time around is like twenty to thirty percent of what I was earning when the market was big. Everyone always hope that the bull market comes anytime soon, you can’t compare what you’re making in a Bull market to what you make when the market is in bear. |
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Many beginners want's to become a trader, but they are skipping the process and start looking for an exchange as much as possible without knowing how to trade well. Trading is not that easy, it requires a lot of research, and analysis treat trading as your Job!
One of my friend asked me about the current exchange he is using, and what coins to buy so he can make profit. Well, I don't give any advice regarding on this one because for me if you want to make profit you should know it on your own. I just give some advice that if he really wants to become a trader, go take the process, learn more and you will see what coins to buy especially during this bear trend.
How do you see your trading activities? Are you just here to buy and sell or you are here to have more good coins and hold it until you make profit?
Yes before you can benefit from anything, you first need to make it your job and be serious with it, cause if you’re not serious with it, there is no way you should be expecting any profit to be coming from it. Profit can only come when you take the job serious and dedicate more time and effort in being perfect in the trade. With time you get better and start making profit like those who are pro in it. |
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the current market is very difficult to predict technical analysis there is no point in indicators not working well what you do to trade in a market like this
It’s always difficult this time around, but just buy the dip and wait for the whales to return and pump the price. The price is already down right now and I believe this is the lowest it will ever be this year. Don’t know why it hasn’t entered bull yet, but ETF will be approved next year, maybe that’s what has been delaying the price from going up. |
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What to do now when things get worse every day, only hold will help us? Who is trying to survive in such a market? Your advice, friends!
Some people usually say that it is best to withdraw once the price starts to fall, at the earlier time, so that you won’t lose much. If you do that, you can then wait for when the price will start to revive again so that you can invest back your money and start making profit. I don’t really like doing this thing of holding your coins when price is falling, can’t take that risk, but it do work for some people. |
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I have seen a lot of people get disturbed whenever they see dumpers dumping the coins they have at unreasonable prices. To my amazement also, some people might dump a huge amount of token for just a penny, as if their whole life depend on it.
Whenever this happens, either as a bounty hunter or as an investor, i usually do not get bothered. Most times when a project is newly listed on exchange, i would avoid being in a rush to sell, but wait to see what would be the stable price, before the take off.
If the price goes very low due to dumping by dumpers, instead of grumbling or being disturbed, i will buy as many as i can and wait for the next pump.
Most times i had the opportunities like this, i was able to earn profits not less than x3 the price I bought from dumpers.
It works and you too can try it. I believe it will work for you.
It works, but for the top coins in the market, and not shit coins. I use to do it too, especially with Bitcoin, because I don’t trust any of these altcoins, thought some of them are reliable, just like ETH, but most of them are not worth waiting on, cause if you keep on waiting, everyone will dump it on you. But with bitcoin there is always hope that price will get back up. |
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In fact, the blockchain does not require cryptocurrency as a dependency, because blockchain products do not rely solely on cryptocurrencies as a payment method!
Yes, Blockchain can be used for various purposes, but when it comes to making payments/transactions, then you need cryptocurrency to do that, as long as it’s Blockchain we are talking about. Unless you mean for other things such as message encryption like someone once said. Also read on Forbes that it can be used in voting, don’t really know how that works, and there are still a lot of things it can be used for. |
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Some arguments used against cryptocurrency :
1. Cryptocurrency is a Ponzi scheme
The whole economic system beginning from demand and supply is a Ponzi scheme because in demand and supply, someone profits from the loss of someone else.
2. Cryptocurrency has no intrinsic value
A government stamp on paper does NOT give it intrinsic value. With your fiat so-called intrinsic value, why does the value of all fiat keep on dropping in value?
3. Cryptocurrency can be used to evade tax
The ONLY legal tax is income tax and nothing else. And it is not wrong at all to not pay all of those extra so-called taxes to any government whether good or bad.
4. Cryptocurrency can be used for terrorist activities
The internet itself is used for terrorist activities. Gold and fiat money also is used to fund terrorist activities and are done in private. So how will you regulate those dear regulators?
5. Cryptocurrency can be used for money laundering
I can money launder with gold also by simply burying the gold and hiding it from the eyes of tax collectors. I can similarly make private and corrupt transactions with fiat money also in secret.
6. Cryptocurrency is volatile
Stocks are also volatile. Check out how volatile the Amazon stock has been.
Anything can be used in funding terrorists attacks. Even before anyone thought about Cryptocurrency terrorists has been receiving funding and that was mainly coming from those in power out of greed cause they want to make money. They are now looking for ways to put everything on Bitcoin so that everyone will start seeing it as something bad. Foolish people. Bitcoin is good, it depends on who is using and what they are using it for. |
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I just came across a paper written by John Griffin and Amin Shams which states that the bitcoin price was being stabilized because of a coordinated price manipulation with tether.
I respect empirical studies but I don't want to believe that. Many have become millionaires because of their investments in bitcoin and other cryptos, which is what attracted even more investors as these new currencies were being adopted by many to conduct business.
I am still a bit puzzled by the results of the study.
The direction price moves is based on manipulation and speculation in the market. Whales are the ones who control the market to go up and down quickly and also fall quickly, cause they invest huge amount of money unlike any other investors. And since the market is volatile, any huge amount they invest will always push the market to any direction. That’s why sometimes you will see small investors form a team to manipulate small cryptocurrencies. |
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