Is Cryptocurrency Trading profitable and how do you do it properly?

[Reclaim3r]

The title says all. I've always been mystified about why people trade coins, especially when it's not for Bitcoin on PoS coins.
Is there some kind of secret guide to profitable trading? Or is it just like gambling?
Is there anybody who's had much success trading ( for profitability ) ?

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[sandykho47]

Cryptocurrency trading is profitable. Trading is not a gambling, but a risk

if you want to know more about trading, go see this forum section : https://bitcointalk.org/index.php?board=8.0
i learn a bit about trading from there

[odolvlobo]

If trading is profitable for some traders, then it must be unprofitable for other traders. It cannot be profitable for all traders.

[tee-rex]

If trading is profitable for some traders, then it must be unprofitable for other traders. It cannot be profitable for all traders.

This is not strictly correct. People may buy (or sell) bitcoins at an exchange and would leave the exchange, spending the exchanged amount somewhere else (buying goods or services, for example). This would be true if no money left the exchange (zero-sum game).

[Swordsoffreedom]

To answer OP's question crytocurrency trading is very profitable if you do it correctly
There are some risks including exchange risk the service you use can default on you
That said with risk comes return and its doing better than securities in bitcoin are doing now, at least its near zero sum less the fees you pay which can be offset by a good return and market timing (IF you think you got those skills XD could get into a large debate on that lol)

[Reclaim3r]

Cryptocurrency trading is profitable. Trading is not a gambling, but a risk

if you want to know more about trading, go see this forum section : https://bitcointalk.org/index.php?board=8.0
i learn a bit about trading from there

Thanks sandykho47 and everybody else for the answer. I think one of the main questions I have is how do you know when a crypto is going to go up and when one is going to go down? The forum section you gave me is pretty useful but most of the data is "strewn" if you know what I mean. I've become weary of mining and was interested in trying out trading.

[Lethn]

Cryptocurrency trading is profitable. Trading is not a gambling, but a risk

if you want to know more about trading, go see this forum section : https://bitcointalk.org/index.php?board=8.0
i learn a bit about trading from there

Thanks sandykho47 and everybody else for the answer. I think one of the main questions I have is how do you know when a crypto is going to go up and when one is going to go down? The forum section you gave me is pretty useful but most of the data is "strewn" if you know what I mean. I've become weary of mining and was interested in trying out trading.

Because most cryptocurrencies are open markets, you know exactly how much currency is coming in and the limits of the volume being traded, so it follows basic supply and demand rules most of the time, you also take note of things like difficulty and the hash rate of the network which can all be looked up by anyone.

[lihuajkl]

The question is complicatd and there is no much people who are able to answer this question. Bexaus they are losing money. Even some one gives you his winning strategy but maybe it isn't suit for you! But they can learn from their experience and practice their theory, then form your own strategy that is right for you!

[tee-rex]

Cryptocurrency trading is profitable. Trading is not a gambling, but a risk

if you want to know more about trading, go see this forum section : https://bitcointalk.org/index.php?board=8.0
i learn a bit about trading from there

Thanks sandykho47 and everybody else for the answer. I think one of the main questions I have is how do you know when a crypto is going to go up and when one is going to go down? The forum section you gave me is pretty useful but most of the data is "strewn" if you know what I mean. I've become weary of mining and was interested in trying out trading.

Because most cryptocurrencies are open markets, you know exactly how much currency is coming in and the limits of the volume being traded, so it follows basic supply and demand rules most of the time, you also take note of things like difficulty and the hash rate of the network which can all be looked up by anyone.

This is wrong for pretty obvious reasons. First of all, you don't know how much currency is coming in (I mean currency which is being exchanged for, say, Bitcoin, since its amount equally affects the exchange rate). Secondly, you can't even know how many bitcoins are coming in. We have 12+ million bitcoins minted till now, and some 30 thousand bitcoins could easily derail the exchange rate. All would be even worse if we take any other cryptocurrency as an example.

[gmx95]

Like in everything, you need experience and a bit of touch.

[AceWallen]

If trading is profitable for some traders, then it must be unprofitable for other traders. It cannot be profitable for all traders.

of course it could never be profitable for all traders. and in a strictly zero sum situation, the general sentiment is true as well. however, until bitcoin's historic trend significantly changes to the downside, then it's all a matter of time frame, and the "normal" distribution of traders does not necessarily have to apply. time will tell.

[giveBTCpls]

Altcoin trading means investing before the pump and selling before the dump.
There are few coins that recover from the big p&d's that whales put the coins through. For example XMR is right now recovering nice and I would have bought shittones may I had spare BTC when it went back to 0.2, because I KNEW it would double++.

[dothebeats]

Cryptocurrency trading ISprofitable if you know when to hold and when to let go. It can give you some nice returns but it is very risky. If you know how to spot certain market activities like pumps and dumps, you can go far in the trading world.

There is one rule in trading that I know very well: Buy low, sell high.

[polynesia]

Make sure you don't get on the wrong side of a whale's order.

[DhaniBoy]

bitcoin trade sometimes favorable and unfavorable, depending on how a trader regulate trade, and also how a trader using the right strategy to trade bitcoin, of course, is the hope of all traders get maximum profit from the trade ...
bitcoin trading or other cryotocurrency depending on currency exchange, when its value is high then the trader can get a big profit and vice versa ...