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.