Shall I be a hodler or day trader? Give me some advice!

[misa999]

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?

[Samo Dobri]

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.

[misa999]

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

[European Central Bank]

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.

[sylance]

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!

[muncuss]

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

[mikyadel]

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

[misa999]

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

[ahmedjamal1998]

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.

[bbc.reporter]

@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.

[v3liana]

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.

[rezurect]

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.

[deepcryptomine]

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.

[stripykitteh]

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?

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.

[ChinkyEyes]

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.

[Sadlife]

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.

[n0ne]

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.

[MinerLeague]

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

[shursight]

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.

[JanpriX]

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.