Day Trading Pros and Cons

[shamzblueworld]

Is day trading more beneficial compared to long term investments in alts?
What are the pros and cons of day trading?

If a trader would like to answer, it would really be grate.

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[1714154935]

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[1714154935]

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[1714154935]

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[1714154935]

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[Jolbors]

I worked as a daytrader-scalper in Canadian company Swifttrade . I transformed my experience to cryptotrading and found that you can control ur risks much more better than regular investor so you control profit and loss. I found in this market a lots of scams and this technique is effecient because of risk management.

[JimmieA]

Is day trading more beneficial compared to long term investments in alts?
What are the pros and cons of day trading?

If a trader would like to answer, it would really be grate.

If you have good skills and a little luck then surely investing day will yield a better profit than long term investment. The advantage of day trading is to bring in quick profits but its downside is the higher risk. When trading day, the number of transactions is quite a lot and it is difficult not to make mistakes. And so many transactions so the fees paid will also increase.

[juli50]

In my time here in cryptos I have done both(holding and trading). I started trading a lot, I made some profits but you lose a lot of time trading and you need to be lucky some times. Now im just holding, I dont have enough time to trade and I like more to hold some coins. My strategy is find coins that I like and I know people will love, so I buy them before everyone when the market cap is really low and then I wait the inevitable. I have done this with coins like Verge, DeepOnion, ufr and some other coins. At the moment I recommned you the last two.

[ItsEzMkay]

Day trading can be more beneficial than long trading but it depends on your style. Day trading will provide more money but it will also provide more stress as you have to time the markets well and have a hint of luck. Also if you day trade in certain countries like the USA every trade is taxable making it terribly tough when it comes time to taxes and overall you get taxed harder. You should consider this all before choosing your style up.

[plenumetnormous]

Day trading can be a very profitable method to make a fast and big money, but it requires a lot of knowledge and experience in trading as it's much risker than long term trading, which is safer, compared to this modality.

[dmamigo]

Day trading can be a very profitable method to make a fast and big money, but it requires a lot of knowledge and experience in trading as it's much risker than long term trading, which is safer, compared to this modality.

Pretty Riskier method of trading, I don't usually prefer this method as even sometimes the most knowledgeable people even can't make profit at the end of the day. Crypto Market is too unpredictable and analyzing it correctly every time is nearly impossible. Day trading in other sectors are still in better position in terms of risk.

[Olatunjex]

I worked as a daytrader-scalper in Canadian company Swifttrade . I transformed my experience to cryptotrading and found that you can control ur risks much more better than regular investor so you control profit and loss. I found in this market a lots of scams and this technique is effecient because of risk management.

would be great to learn from you how you have transformed your experience into crypto trading can you inbox me i will be more than happy learning new things from you.

[Heyyyrenz]

Actually it all depends to you and to your knowledge you can earn a lot from day trading if you have good experience and knowledge about cryptocurrency or you study different strategies in day trading actually but there's a advantage and disadvantages when it comes to day trading (Also in long term investment) but i'm going to discuss about the day trading, so here are the advantages of day trading.

Advantages:
- Low risk, because when you know that the coins price is dropping 5% or any percentage you can go out and cut your loses.
- You can earn in just minute if you buy a good coin.
- There's a lot of coin that has a potential and in just a matter of minutes you can earn through it.

Disadvantages:
- You need to stay in your computer every minute or second.
- Your money may lose in just a second.
- Low profit.
- When you invest to wrong coin (You thought it's going to increase it's value because that change is 10% and above but suddenly it starts to decrease)

So far here are some advantages and disadvantages i know. It is just all according to my experience when i try to do day trading.

[TeamUp]

In my opinion, Day trading is more profitable than long term trading BUT VERY RISKY, because in day trading an increase of 1-3% in price is already good enough to sell the coin and I can do about 4-5x trade per day. In my experience Day trading is more like a gamble because intensive research (or the purpose of the coin) does not matter at all, what matter is the current price. Even thou the price of the coin is stable for the fast couple hours it migth drop really low (or jump really high) any time. An increase (or decrease) of 1-3% of a coins can be determine right aways just a few mins (specially if the volume is high), if it increase you can sell it right away or if it decrease then you can wait for couple of hours hoping for the price to high again.

[Jorosss]

Is day trading more beneficial compared to long term investments in alts?
What are the pros and cons of day trading?

If a trader would like to answer, it would really be grate.

Day trading is much more risky than the usual long term trading. Day trading is not recommended for a beginner who are fear on a losing side. But the cons here is you can earn more profit in day trading if you are lucky enough. Just only trade what you can afford to lose

[wayancrypto]

Day trading is need more skilled and more consuming times than longterm trading, and also need extra patient. So only trader can manage all of it can make more profit. But if you newcomer in altcoin trading for the better just doing long term trading so will be more easy and need less time and the profit can be higher. Just by buy and hold huge potential coin so will be easy to gain profit from crypto market.

[ajqjjj]

Is day trading more beneficial compared to long term investments in alts?
What are the pros and cons of day trading?

If a trader would like to answer, it would really be grate.

day trading is more risky compared to long term investment in altcoin. So it make huge profit. It depends on your knowledge in trading.
Pros: It improve more knowledge in trading and multitasking also improved.
          High profit and flexible to work in anytime.
Cons: you always monitor in your computer.
           It is one of the restless life. Because you should always aware in your trading and more difficult to find the best coins.
        
            
          

[adroitful_one]

Is day trading more beneficial compared to long term investments in alts?
What are the pros and cons of day trading?

If a trader would like to answer, it would really be grate.

Well, if you know how to read the charts properly, you can make money on both the dips and and rises. Holding long term is a perfectly viable alternative if you don't know how to day trade though. If you're looking to get started day trading, I suggest looking into Bollinger bands to begin with. They're super easy to use, and you can get lots of trades with them.

[entrepmind23]

Is day trading more beneficial compared to long term investments in alts?
What are the pros and cons of day trading?

If a trader would like to answer, it would really be grate.

You can accumulate more coins if you are day trading and you have a trading plan in which you know when to enter a trade and exit as well. There are many people who do not want to day trade because they tend to panic buy or sell and at the end of the day it would have been better if they hold their coins. I can see so many instances wherein it would have been better if you buy and hold the coin because you could have sold it at a lower price but think also of the possibility that if you just hold your coins and it goes lower, you cut loss and then buy another coin which moons then you would have a better position. It depends on the coin you would buy and your strategy in trading that would determine whether it is more beneficial to day trade or not.

[akamit]

Is day trading more beneficial compared to long term investments in alts?
What are the pros and cons of day trading?

If a trader would like to answer, it would really be grate.

I started my career as a long term investor in alts market.
As a long term investor, my highest achievement was over 72,000% gain only in a single coin. Unfortunately I haven't succeeded at the end due to my greed.
In my experience long term investment is very much safe if compare with day trading. If investments are in good coins then a handsome return can be expected.

Sometimes ago I also decided to start day trading and still trying, but the success rate is very slim.
It is for sure that day trading is not for everyone. It is only for high level skilled players, who knows what will be the next move of the market.
As crypto trading is not like forex, I don't mind when I slip to make a successful day trade. When I slip, that coin becomes my long term investment unintentionally.

A simple advice, do day trading with good coins only.

Advantage:
If successful, your money is not blocked. You can play around daily and hug your money.
This is the main beauty of day trading in my opinion. If blocked, you just can't hug your money for unknown period of time.

Disadvantage:
Time consuming, need to be patient, backbone pain, eye burn and other things mentioned by other members.

[Gorgeous011235]

I personally don't think day trading is a good thing to do at this stage of crypto..day trading needs a more stable environment like the stock market..crypto market is too volatile and this makes trading very risky...besides that i think that the best way to invest in crypto is to hold coins for a mid-long term..and wait for massive pumps to make huge profits 

[CryptoBitcoinOfficial]

Cons:
-higher stress
-time consuming
-generally riskier
-more commissions to pay

Pros:
if you are good at it then bigger profit

[Harlot]

With this kind of volatility we are facing in the cryptocurrency market I don't see any benefit on holding something in the long term without even trying to buy and sell in the process. Let us remember that cryptocurrencies are not a stock of a company in which there is no reason to do dollar cost averaging as there is no guarantee that it will only go up. We must always think of its volatility and how we can take advantage of it as it is our way on maximizing our earnings.

[dogandogru]

Day Trading
Pros:
Low Investment needed.
Can get you fast money.
No need to block your capital.
and Cons:
Need skills and technical analysis skills.
More time is needed to devote, More stress
Day trading is expensive(in term of commission, right hardware and software needed etc)