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RE: How to Make Money 101 Part 1 (Day Trading)
Great post, you gave good tips. The one I think is the most important but hard to do, is to not spread yourself so thin. With so many opportunities out there how do you take your decision? which are the main factors? and lastly how to you inform yourself about altcoins? *upvoted *followed
Followed back! So I usually try to see when a coin is at all time low. So each exchange website shows you a "+x.xx" or "-x.xx". X being the numbers the coin value has increased or decreased within the last period. I love when I see an all time low. That's the thing. The market ALWAYS bounces back. So you don't wanna invest in a coin that's in the top half range of the value it's held for the past few days. You wanna invest when it's near the lowest point. Altcoins are just lesser known coins in my eyes. There's hundreds of definitions but to me they're just the coins that are trying to make it. The reason they're so popular is because theyre worth sooooo little. The probablity of 50 cents turning into a dollar is a lot higher than a 100 turning into 200 dollars. That's the philosophy behind trading altcoins. You jump in with 1000$, they double from half a penny to a penny but the percentage margin increase is 50% so you just made 500$ of this half penny turning into a penny!
@stegradice thank you one more time for the insights. I definitely think similar to you, I really think there is out there a ton of opportunities to make money with altcoin. Right now I am just invested in the top 20 because I really trust in the projects for the long run, Alt coins are really speculative and I am learning and informing myself to find undervalued projects or great projects in an early phase, I think this a really great skill to develop.