Day trading

[iamTom123]

In altcoin trading,is day trading profitable or trading on a long term basis?

In my opinion day trading is profitable and it actually is more profitable than doing it long term because altcoins are usually dead in the long term or even if they are not dead like the top altcoins, they have very lengthy dead times in between their pumps. This means in the short term when they are getting pumped or even having daily fluctuations you can get in and make some profit.

I am honestly not well-versed in trading and its ins and outs but am seriously getting into it...learning as much as I can in this multi-faceted and dynamic new type of market -- the cryptocurrency market. And yes, I also got introduced to day trading many days ago and am learning that yes it can indeed be more profitable and can be more applicable in the altcoin market. Thanks for sharing this kind of idea.

[shield132]

It depends on how changeable is altcoin's price. For example if one altcoin is changing daily 4-5% than that's better to trade daily and if you think that that altcoin is new and will have good or great future, that it's better to try long term investment.
So if price is changing frequently and you are very good trader, than try daily trading, everything depends on situation and you have to decide which option is better.

[calkob]

In altcoin trading,is day trading profitable or trading on a long term basis?

It really all depends on your risk appetite,  day trading is very risky and especially in bitcoin.  But then again where the risk is, that is usually where the high returns are also.  i have not got the swingers for high volume day trading but have done it a few times with alts i dont care about losing.

[machinek20]

To make profit in alt coin is a bit difficult and need a lot of patience, and sometimes it can be more than a week before the price moved, actually it is more profitable to do day trading, but sometimes alt coin movement is not that fast

[tifossi]

I only trade with early entry signals. So yes I have to wait a few days, sometimes a week. But I can easily make 50%+ profit with it. For me it's worth the time to wait. If you're watching for daily profits I recommend a bot like Gunbot.

[iqlimasyadiqa]

To make profit in alt coin is a bit difficult and need a lot of patience, and sometimes it can be more than a week before the price moved, actually it is more profitable to do day trading, but sometimes alt coin movement is not that fast

I agree with you . altcoin movement is usually influenced by the dev who do pump. Most altcoin this time would only last for a while.
and every time a dev can do the pump, we have to monitor all the time if you want to do trading altcoin.

[noictib]

In altcoin trading,is day trading profitable or trading on a long term basis?

Actually it all depends upon the market some time altcoins trading is more profitable then day trading and some times day trading Became more profitable than altcoins trading.
Here we should go for the both type of trading, when the market is going with the big fluctuation of jump and dump then day trading results into more profit but sometimes fluctuation in the bitcoin prices became down then profit in day trading Became down .
So here both types of trading are profitable in two separate separate condition and timing in the market .

[mindrust]

If the prices are going down, you won't profit anything no matter what you trade unless you have extreme technical analysis skills.

Trading usually makes more profit than buy&hold's but like i say. You should be in a bull market for that.

(you need bear, if you are a shorter)

[shintosai]

I only trade with early entry signals. So yes I have to wait a few days, sometimes a week. But I can easily make 50%+ profit with it. For me it's worth the time to wait. If you're watching for daily profits I recommend a bot like Gunbot.

its worth to wait if you really have some good instinct that the value will rises up and if you are familiar with reading the chart, its hard to do day trading with real alt project, but if you are only trading inside yobit you just needed good timing with those pumpers for sure day trading will help you to gain good profits.

[harizen]

In altcoin trading,is day trading profitable or trading on a long term basis?

If we look into it as a whole, yes day trades are effective in altcoin trades but please do take note that "IT WILL DEPEND ON WHAT ALTS YOU ARE DOING TRADES" as not all alts are having active volumes per day. Can't give you the specific alts so you need some research on it.

Im not with the idea of having an altcoin for long term basis of holding and trading but as far as my knowledge about alts is concerned, there are alts I see that is worth to shot to make them put on a long term basis of trades.

[cramcram21]

the truth is I am not yet doing some alt coin trade,
But if I am going to do it I would prefer the daily trading rather than long term,

[dothebeats]

Day trading is actually a profitable job if you know how things work and how deep your knowledge is about trading and economics. Most of the people I know who do day trading are getting enormous amounts of money in our local currency every single day and I actually envy their skill on TA. If you are not well-versed on how the market works, the ending is you might get your money burned in the long run.

[BitcoinHodler]

In altcoin trading,is day trading profitable or trading on a long term basis?

both of them can be profitable depending on which altcoin you are talking about and when.
for example a couple of days ago when Dash and Ethereum were being pumped it was a very good time for day-trading these coins to buy low and sell high in each dip and rise.
also further back when they were still low and not in a bubble it was a good time to buy for long term and sell after the pump.

[DoublerHunter]

In altcoin trading,is day trading profitable or trading on a long term basis?

In altcoin trading, I can say that it is more profitable to do day trading because most of the coins are more volatile than bitcoin so it will be easy for altcoins to do pump and dump scheme. Long term basis in altcoin have a higher risk than day trading because most of the altcoins is not stable as well as bitcoin so it is not advisable to do long term.

[tifossi]

Don't agree with you. For an example: if you bought DASH a week ago at 0.035 and watch the price today 0.057 it's around ~60% profit if you sold at this price. Making 60% a day profit with day trading isn possible on my opinion. Maybe 2-3%

[Rude Boy]

Day-trading altcoin can be extremely profitable if you know what you are doing. However, it is also highly risky by nature so you can both win and lose large sums of money very quickly. Bitcoin is an extremely volatile commodity, subject to sharp swings up and down in price with very little warning. That makes day trading it exciting, but it also means it can be very hard to remain cool under pressure and trust your strategy when things appear to be moving the wrong way – or to cut your losses before it gets out of hand.

[pinkpanther03]

In altcoin trading,is day trading profitable or trading on a long term basis?

Well, in my opinion day trading was really  profitable, compare to trading on a long term, because you can roll/grow your capital in a fastest way, and once the screen monitor react, the traders will also react on it. While on a long term basis, it is good also but you don't know when will it be done to reach the price you set on it. Just make sure the altcoin which you are going to trade will give you benefit and potentials.

[Hanako]

In altcoin trading,is day trading profitable or trading on a long term basis?

Well, in my opinion day trading was really  profitable, compare to trading on a long term, because you can roll/grow your capital in a fastest way, and once the screen monitor react, the traders will also react on it. While on a long term basis, it is good also but you don't know when will it be done to reach the price you set on it. Just make sure the altcoin which you are going to trade will give you benefit and potentials

For me day trading is profitable like what you said pinkpanther03, becauce it can grow your capital everyday and higher your profit in a day althrough i think longterm also is profitbale but we need time and patience to reach out the we wanted to reach!!!!

[geopolisch]

Don't agree with you. For an example: if you bought DASH a week ago at 0.035 and watch the price today 0.057 it's around ~60% profit if you sold at this price. Making 60% a day profit with day trading isn possible on my opinion. Maybe 2-3%

We can always find more profits from positional trades rather than intraday trading. But some active trader always prefer day trading as it will get them engaged toward trading all through the day. For them, positional trading is completely boring one and even they are not bothering about how much profit they could make from positional trading comparing to day trading.

I always prefer positional trading by selecting good altcoins. So far it is proven as a working way of trading as I am making decent profits out of my trading strategies.

[deisik]

In altcoin trading,is day trading profitable or trading on a long term basis?

As others have already said, for the majority of altcoins (if not all) long term trading (or rather investing) is mostly meaningless

That said, I kind of predisposed to think that day trading in altcoins (as it is understood most often) is as meaningless unless you know something. If you don't know something, it is essentially gambling. Now to what I mean by something. If you are not part of a coin developer team but only a typical trader, the only real mode of trading (that would distinguish it from sheer gambling and hoping for the lucky strike) is using arbitrage. Obviously, that requires that the coin which you are going to use for arbitrage should be traded on more than one exchange and be pretty consistent in what concerns transfers between exchanges. Otherwise, you may get caught with stuck transactions as well as suspended deposits and eventually end up holding the bag