Bossian (OP)
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March 12, 2020, 01:00:12 PM |
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Most people on this forum are long term holders (correct me if I am wrong). I wouldn't recommend anyone intro long term investing to try to place trades, or if you do learn how to do it, study the vocabulary, learn how to understand charts. Choose one of the three and become good at it. Daily trading is extremely difficult. Basically you buy at 6k and hope to sell at 6.1k with a 25X leverage. You need a stop loss, it is very dangerous. Swing trading is buying near supports and selling near resistance, you can hold for 1 month, or 3 months, sometimes 6 months (my personal favorite). Long term investment is what most people do here, buy Bitcoin and hope to make a profit in 2 or 3 years from now (or further than that). For this you need a very clear and deep look at the fundamentals to make a smart decision. Not as easy as it seems.
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bgaf
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March 12, 2020, 01:27:31 PM |
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I like the one that I will not necessary needed to open or monitor any prices for a short period of time. Well not reallt a long time investor but I am seeing a lot of people losses their asset on risky swing trading. As you can see market now is extremely volatile and those who will be agressive to trade will eventually loss due to the massive dumping and fear of such incident. Maybe my choice will be the last one which I am confident to hold years from now. But still open for short term trading when have extra budget.
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Yogee
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March 12, 2020, 01:52:07 PM |
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The best advice in the post was choosing the method that works for you. Every trader and investor have different way of handling risks. If you don't have the stomach to handle price volatility, you can choose to become a long term holder instead. If you don't have the patience for that and you can manage your emotion well, maybe you are suited to become a trader.
Question to Bossian, does having a deep pocket or not matter in choosing which method to use?
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Bossian (OP)
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March 12, 2020, 02:35:26 PM |
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The best advice in the post was choosing the method that works for you. Every trader and investor have different way of handling risks. If you don't have the stomach to handle price volatility, you can choose to become a long term holder instead. If you don't have the patience for that and you can manage your emotion well, maybe you are suited to become a trader.
Question to Bossian, does having a deep pocket or not matter in choosing which method to use?
Not sure. But if you have a small pocket, daily trading must be a little exhausting and discouraging, results will be very slow to add up. Usually small pockets like long term investments, they like to sit for 5 or 10 years, wait and hope to see a X10 or X20 profit. With daily trading, even with a big leverage it's hard work to get such profit.
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mersal
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March 13, 2020, 04:24:46 PM |
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I will say it depends on the market conditions.
Daily trading is much effective at conditions like these,but its like totally gambling with the market so I won't suggest anyone to do with all of their holdings.
Long term trading or holding is much better but sometimes we get confused when the market gets too low which might trigger our panic sell button so one who is enough to control and face the market condition will take better reap in long term.
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KrisAlex18
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March 14, 2020, 06:13:50 AM |
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I would rather choose the long term investment compared to swing trading and daily trading because it is easy to earn money in investing compared to trading because if you know that the bitcoin price is low, you may hold it for how many days you want. So it is really impossible to lose your money in investment if you know how to hold and how to withdraw your money, you should observe the market so you would know if you already need to withdraw your money,
As of this day, as bitcoin price is very low, we can use it to make money, we should invest our money if the bitcoin is low because for sure we will earn money if the price of the bitcoin goes high. That is the good thing about investments, you are the one that will decide to earn or to lose your money.
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ukon
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March 14, 2020, 06:22:46 AM |
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I am not good at swing trading and daily trading because for me it is a little more difficult because I have to keep an eye on the market every time I am honest because I can't do it. I better choose a long-term investment and wait years to get a big profit, now at the right time we can buy as much as we can and then hold it in the next 1-2 years I am sure this will be the best way for me to long time.
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Nawrod
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March 14, 2020, 01:31:58 PM |
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Personally, I'm prefer daily trading. Yes, it's pretty difficult but it could be profitable. But of course, everyone needs to choose a proper method for him. If you want to learn daily trading, just watch some YT cryptocurrency videos, you can find a great content there. Learn from your mistakes and download one of the cryptocurrency exchanges apps to have a quick access during the day. I recommend CoinDeal's app, here is the link if you were curious https://play.google.com/store/apps/details?id=com.coindeal
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Freddy11
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March 14, 2020, 03:51:40 PM |
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We have to be very much prepared for these things if we are to become successful in Forex. I feel more comfortable to use all techniques instead of just one. And that’s where my preference is with FreshForex broker and the mighty setup of their features. It’s just lovely for me to work through.
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ashmodeus
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March 17, 2020, 09:02:59 AM |
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Daily trading makes me look older than someone my age,very stressful and tired as well. on 2019 i am very active on day trading,firstly its seems good and i am really enjoy it,after 2 month its totally annoying for me. Alarm about price from my phone is the most scary thing for me. waiting with playing offline games,watching youtube,etc. and if i look clearly , long term holding is more better.
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The Cryptovator
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March 17, 2020, 09:44:29 AM |
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Trading depends on so many things which trade suit for you. For example time, capital, experience etc. If you have enough time, experience and big capital then you may start day trade with small profits. If you don't have big capital then likely you may hold some coins for long time means its call long trade. If you have enough fund and there is not enough time but you have quite experience then middle term trade would suit for you. Like this people think and they do whatever suit for them. Swing trade is high risky, you should have enough skill and experience to avoid losses.
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Sheriff Woody
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March 17, 2020, 10:03:48 AM |
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It's all about what you are comfortable with and how much time you have for the style of trading you choose though I think daily trading requires alot of your time and capital to see some real profits while you scalp the market with short trades.
As for long term trades if your analysis is wrong you are likely to blow your account otherwise if you are spot on with your analysis you get good handsome profits.
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rexxarofmoknathal
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March 17, 2020, 10:56:54 AM |
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Trading depends on so many things which trade suit for you. For example time, capital, experience etc. If you have enough time, experience and big capital then you may start day trade with small profits. If you don't have big capital then likely you may hold some coins for long time means its call long trade. If you have enough fund and there is not enough time but you have quite experience then middle term trade would suit for you. Like this people think and they do whatever suit for them. Swing trade is high risky, you should have enough skill and experience to avoid losses.
That's right! The type of trading one is associated with should be a true reflection of all of these factors like the buying amount, the time, knowledge and even preference. So, if you find that these factors don't aline with you 100% then the message here advises you to change lane as this one you're in is not the right 'trade category'. Of course, all of this is personal and vary but its all good advice
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nelson4lov
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March 17, 2020, 02:41:51 PM |
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Most people on this forum are long term holders (correct me if I am wrong). I wouldn't recommend anyone intro long term investing to try to place trades, or if you do learn how to do it, study the vocabulary, learn how to understand charts.
Choose one of the three and become good at it.
I don't know about you but I don't see how investing long term isn't good. (btw, I'm not saying you said so. However, In my opinion, Long-term trading is one of the best trading/investing methods. What you should understand is that, Every trading method has it flaws – whether you're Day trading, swing trading or trading long term. Anyone can earn profits following all of the methods. Someone who bought bitcoin at sub 3k a year ago could have sold at $14K after hodling for close to a year. Daytrading with 25x leverages? We all know just how much people get liquidated on daily basis on bitmex. Talking about swinging trading, people who bought over a month ago thinking the price would continue the uptrend until the halving event. We all know how it turned out. The market is evolving, we're just have to roll along with it. Just because long term trading doesn't favor you doesn't mean others don't excel by hodling.
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el kaka22
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March 17, 2020, 04:30:29 PM |
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Daily traders do not have to use leverage, that makes it interesting. I do agree with the fact that long term trading is the least riskiest and it does take a lot of time to actually make a profit but you could at least know that your investment will be unaffected by the falls and ups of the price in the shorter term.
Someone who has bought bitcoin at 2016 wouldn't care about the drops right now for example, they have been invested for 4 years and seen many ups and downs. However, daily traders do not have to use leverage, they could simply trade with altcoins and hope that they would make 5% profits that day and that's it, combining many 5% per day would make a lot of money so many of them are working towards that type of goal instead of leverage trading.
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ERC20
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March 17, 2020, 05:04:48 PM |
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Daily trade is the best choice if you dont have much money for trade and only applies for short term, and don't expect to get much profit from it. beside that, daily trade have much risk than other investment model- it's mean swing trade or long term. This happened to me from few weeks ago till today, I traded daily (pair ALT vs BTC), I got a decent profit daily until big dump is coming!! overall, in my portofolio my bitcoin increased but i still lose in worth USD value. You know what, i need btc go to $8,5k for getting ROI, hopefully the btc price back to $8,5k before halving, you can guess where the price i bought bitcoin.
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ScamViruS
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March 17, 2020, 05:17:02 PM |
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I like long-term investments. Because I don't have good trading knowledge. Many times I lost my fund by Swing and day trade. Long-term investment will relieve you of a stressful life. Because swing and trade is very stressful work. All day you have to sit in front of the pc. I tried and did not get good results so now I am looking for long term investment.
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Harlot
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March 17, 2020, 06:16:43 PM |
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Contrary to popular belief investors here can do a little trading in terms of shorting the asset in order for them to buy it at a lower price. Most people here think that investing crypto is always about "Hodling" through methods such as Dollar Cost Averaging and buying near supports for them to get some margin of safety but the thing is in order for an investor to really maximize the capital they have in all of those years what they need to do is of course to short their own asset in order to buy it at a much cheaper price and at the same time make some money in return. In a very volatile market like what we have we cannot really stick to one strategy anymore as we always need to adjust in order to take advantage of all the opportunity we have.
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royalfestus
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March 17, 2020, 06:23:45 PM |
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Contrary to popular belief investors here can do a little trading in terms of shorting the asset in order for them to buy it at a lower price. Most people here think that investing crypto is always about "Hodling" through methods such as Dollar Cost Averaging and buying near supports for them to get some margin of safety but the thing is in order for an investor to really maximize the capital they have in all of those years what they need to do is of course to short their own asset in order to buy it at a much cheaper price and at the same time make some money in return. In a very volatile market like what we have we cannot really stick to one strategy anymore as we always need to adjust in order to take advantage of all the opportunity we have.
Hodling is arguably the most profitable strategy and distracting for new investors but in the market cycle all the strategies have their position. If you miss taking profit in the bull market and got to the bottom you keep hodling. At a time in the market when we start making good bitcoin gain we move to flipping project to keep acquiring bitcoin towards the height of bitcoin bullrun. At that stage u are position in different top coin project to pull out at the peak of price..
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jossiel
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March 18, 2020, 03:22:22 AM |
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Daily trading is only recommendable if you have been experienced in this market or in other markets which the strategies there is applicable while you trade bitcoin. I myself understand the risk that it has and it's much more than holding.
I'm a long term guy for bitcoin and this made me improve my patience. It taught me a lot of things including risk management and the feeling of getting rekt but it doesn't mean you can't recover.
That is why I salute swing and daily traders if this is their bread and butter.
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