Altcoin is for day trading

[Icologies]

I think only altcoins have a large volume  in the market can be used for daily trades from there the price of alctoin can go up and down so fast
if you can take advantage of it, the profit will be obtained the opposite if you can't take advantage of the conditions losses will occur

[flagpara]

I think only altcoins have a large volume  in the market can be used for daily trades from there the price of alctoin can go up and down so fast
if you can take advantage of it, the profit will be obtained the opposite if you can't take advantage of the conditions losses will occur

We can use all coins for day trading. Altcoins coins have high risk high profits, some traders might be trying to take this advantage. Top altcoins are the best option, although profits will be low. New coins will never be a good option for day trading.

[vSliceDev]

You need to have a lookout for new coins, which have still high volatility in the first few weeks of their release. Of course you need to do your research, if this is a potentially good project in terms of tech and inovativity. Lastly, there is the ounce of luck you need! But that is like everywhere in crypto.

[MadeMen]

I'm actually not a day trader but I feel altcoin would be a better option for day trading owing to the fact that the projects are not worth long term hold and could be very lucrative when flipped through and fro to benefit out of the volatility nature of the market. Day trading requires a great deal of effort and Could be very lucrative when done rightly.

[sulendra12]

We can use all coins for day trading. Altcoins coins have high risk high profits,

Bitcoin also has high risk as well, you can lose big portion of your money in just a matter of time if you don't pay attention to it. In cryptocurrency, everything has risk involved so be aware.

Top altcoins are the best option, although profits will be low. New coins will never be a good option for day trading.

This was taken at 12:31am(UTC+7) on top 10 coinmarketcap and if you have big capital to start with, even for 10% is already a decent profit for me at least.

[rahmathidayat93]

I'm actually not a day trader but I feel altcoin would be a better option for day trading owing to the fact that the projects are not worth long term hold and could be very lucrative when flipped through and fro to benefit out of the volatility nature of the market. Day trading requires a great deal of effort and Could be very lucrative when done rightly.

Yes, but what you should be clear about here is which Altcoin do you choose for day trading? because as many people know there are so many Altcoins at this time, so everyone must always be smart in choosing, because not all Altcoins can be good for day trading.

[iTradeChips]

That is the million dollar question. Which altcoin is best at doing day trading. Many might say Dogecoin but I am not really sure about it. Also how much are you willing to risk doing the day trade? It's like gambling, one wrong guess and all the money is gone. You will profit more if you will risk more. The more coins the more chances of a higher profit. Jist because you bought 300 of these coins for 20 satoshi and it rose like three fold, doesn't mean that it will be the moon for you? Buy 300,000 coins and that will sure make a difference if your trade is right.

[kavabanga07]

Waited for the dropdown, however the litecoin price is moving upwards... Still below the previous trendline, however downdside structure was broken... Still holding my position however the price could go up further? Are you trading right now?

[kavabanga07]

oops sorry, forgot the current structure trendline https://www.tradingview.com/x/E5asA1JI/

[monineklutak]

I think altcoins are not for day trading, but for long-term and medium-term investing,
I suggest that altcoins are very good and can be used as investment recommendations,
but if you want to day trade with altcoins, choose futures trading on Binance or Okex, there are many altcoins with high leverage

[Bitcoinislife09]

I see that people support that altcoin suits better for day trading, and not for holding. I just don't get why.

Personally, I agree because when it comes to trading altcoins the buying and selling could profit daily as you need to monitor the movements of the graph and then wait for the right timing to sell your altcoins in the market where you could make the profit. Buying in a high volume of altcoins could easily make a profit in just a small amount of time if you monitor the graph of the altcoin you invested or buy in the exchange. Bitcoin was also a good investment but the movement most of the time takes weeks but also its either a big dump or pump.

[Pithaxz]

My opinion is that there are many speculations around altcoins and it is much more effective in day trading rather than holding them for some time. That is not the case for every altcoin but still. it is because the price changes experienced by altcoin is always so fast that the flow of price movement is very difficult to predict.

[trauchot]

For people with extensive experience in cryptocurrency trading, I am sure that daily trading brings a good profit, but for people who have just started trading cryptocurrencies, it is certainly not worth trying daily trading because you can completely lose all your money, and so many altcoins can bring excellent profit and even within one day, but such altcoins should always be looked out for very diligently.

[oscarftw]

I want to share simple calculations for op. Suppose today Bitcoin is only 1 percent positive which means a few profits to invest huge money in Bitcoin. In a short time or few months only altcoins can make a bullrun. Still, I believe so many investors couldn't trust cryptocurrency for huge money investment, as they do stock exchange. Then we could make trading money from top coins. Although altcoins are very volatile.

[romero121]

Altcoin is much preferred for day trading, and profit makers out of altcoin trading were the large volume holders. With low volume holders it is quite a risky thing to profit big with day trading, because there'll be regular price fluctuation and with a bigger volume one can gain better profit. Even if the prediction goes out of the calculation, the loss can be recovered in a short out of the market changes. With low volume holders this isn't possible, and here lucky ones gain good.

One such incident happened with me, myself introduced Bitcoin and other cryptocurrencies to a friend. He randomly chosed a cryptocurrency for investment, he got a 15X profit within a weeks time. The holding value of his is quite low, but made a good profit out of it.

[matchi2011]

Altcoin is much preferred for day trading, and profit makers out of altcoin trading were the large volume holders. With low volume holders it is quite a risky thing to profit big with day trading, because there'll be regular price fluctuation and with a bigger volume one can gain better profit. Even if the prediction goes out of the calculation, the loss can be recovered in a short out of the market changes. With low volume holders this isn't possible, and here lucky ones gain good.

One such incident happened with me, myself introduced Bitcoin and other cryptocurrencies to a friend. He randomly chosed a cryptocurrency for investment, he got a 15X profit within a weeks time. The holding value of his is quite low, but made a good profit out of it.

Logically right, the movement is much slower with low volume alts if the downfall take place the chance of losing a lot is really high, the recovery period too will take place and you needed to wait for much longer time frame, while with big volume coin the fluctuation may take place and with good support the value will bounced back, you can take good profits even in a small percentage.

[Jeger.Kiting]

There are many ways to trade altcoins and not lose money on it, but earn money on the other hand. Have you ever heard of trading bots?

Not only one person uses a Bot to get faster profits, even all exchanges use bots, in order to attract investors and play trading volume, in order to attract people's interest in the altcoin trading, and the term is looking for prey to get satisfactory results ..

[Jackl87]

For me altcoins are not for daytrading because i don't have the time and energy to be up to date all the time.
I buy the altcoins that i like and hold them at leats 1 year because of tax regulations in my country.
Of course i know that there is a lot of pump und dump going on. Just look at all those uniswap listings.

[Bitbtc8]

I see that people support that altcoin suits better for day trading, and not for holding. I just don't get why.

Maybe altcoins open door to more profits than other coins? I did tried trading with altcoins but I have no good news about it, I'm better off using Bitcoin for trading, it's more safer and reliable, altcoins most times always deep dive unexpectedly, not the best option TBH.

[Mauser]

For me altcoins are not for daytrading because i don't have the time and energy to be up to date all the time.
I buy the altcoins that i like and hold them at leats 1 year because of tax regulations in my country.
Of course i know that there is a lot of pump und dump going on. Just look at all those uniswap listings.

I agree with you, it's very time consuming to do day trading profitable. You need to do research on various alt coins to be able to predict the market on a regular basis. Without that you would just be losing money in the long run. To be profitable in day trading you don't only need to make enough to cover transaction cost and other expenses for your equipment, internet and electricity. You would also need to make more money than you would earn in a regular job. That is very hard, it's better to just buy and hold the coins in my opinion.