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RE: Crypto Experts I need some Advice, Is this the End?
Personally if there's one thing I would recommend you to avoid it is day trading, especially in this market : so volatile, really anything can happen anytime, and you should not rely your gains on some graph getting low or high during a little amount of time, first it's stressful, secondly, it just destroys your energy that you can put into better, long-term investment that you really trust so that you're safer and more confident with what you do. Hold Ethereum if you have it, and trade it with monero,zcash,iota,eos, any other coin in the top 30 in small quantities, eventually one will end up replacing bitcoin.
Sorry sir, but volatility is what make day trade profitable. But for that to happen there is a lot of skills that need to be developed. Day trade isnt an easy task, and have a lot of knowledge involved.
Of course I said the one thing I wanted anyone to avoid is day trading, too complicated, and you can earn more with less energy, so pointless. And market volatility can be interpreted as something unpredictable, it isn't good to day trade without knowing what will happen, so I guess volatility doesn't necessarily play a good role for day trading; but to sum it up, I woudln't recommend day trading at all, unless you have made serious studies in microeconomics.
Actually, good day traders make a lot more money than long term traders, and If done right, have a bigger profitability.
But like you Said, It need a lot of effort.
High volatility assets are the ideal field for day Trading, since the objective is to get the biggest movements in a really short term.
Good professional day traders may have 10% of profits in one day.
But the risk i really high, so its not an easy task.
Unless you dedicate a lot of time to lern the technics is definetly not worth It.
Yes from that angle I agree too, you must be ready to learn the techniques, because not everyone gets to manage to make 10% profit daily, you gotta be ready to only do that. And that's why I prefer to trust things long-term. I would be way too disappointed trying day-trading, but I agree it can fit some different people who manage to think in order to make it successful for them. I just can't look at the coinmarketcap.com site literally every single minute. Well sometimes I do it, before I wanna buy a coin, but that's really the only moment when I focus on that site.
Thanks to both of you for sharing this discussion. It's great to see the conversation and I think it brought some great insight into this idea. I was reluctant to try day trading for these exact reasons. I now know that it's certainly not going to be for me.
same for me ! I just don't have time for that, I mean there are far easier ways to make profit than being constantly stressed up like that; but again, maybe some people enjoy it and are specialists in that, but these are still rare to find.