I am confused about if is worth it more to trade crypto than investing your resources working for somebody else. I know cases where people trading earn in an hour or less what they could earn in 2-3 days working in their job, and i am being conservative here, dedicating time to it and learning about trading, risk management, analysis and things like that, I believe it could be worth it as one could work from anywhere with internet access and if is currently working in a shitty job with bad conditions, it could be a good decision.
I am writing from my ignorance, so I appreciate your comments in regards to this.
If you have to ask other people this question, it’s not a good idea for you.
I just like to see different views about it, it does not mean that I am superconfused.
I quit my job and use a bot to flip alt coins 24/7.
The past few weeks I have been swing trading to stay more engaged in Crypto. It is fun, extremely low-risk (the way I do it), and encourages me to forget the USD price of things. Before then I’ve really just been holding, occasionally taking new positions, but for the most part not paying much attention.
So what I have been doing is I set aside a very small % of my holding portfolio for swing trading and moved that to Binance.
Because I am trading everything to and from BTC, I don’t really care what the USD price of anything is anymore. Of course I am still aware of that, but where before that was the only metric I kept track of, now I am seeing how everything is doing relative to BTC.
I’m expecting Bitcoin will swinging between 2500 to 4000 in 2019, so there’ll be plenty of opportunities for the swing trade.
I’m using a tool called BitUniverse (not sure anyone used it here or not) and there’s a trading bot feature in it. They only have one bot now, and the bot will do some buy and sell orders within the specific range. In my case, the bot has been set from 3300 to 4300 and 686 transactions have been made. I’m running it with Bitcoin in Binance which lasting for 54 days.
Yes, you must be like all the other experts on da internetz printing money with their divine trading skillz.
Do not be like that, check their web site, see few videos.
I thought that make more sense to learn trading so that, if I get good at it, I could avoid the losses one has to take when HODLing due to fluctuations, but after 3 months of exploring strategies, learning technical analysis, trying different coins/tokens, different time frames, different indicators, I got to the conclusion that it is a bit useful to know technical analysis to be more aware of the trends and helps a little to know when is a good time to buy, but difficult to know when is a good time to sell or difficult to know if, against all the odds, the price drops a lot and you lose a good amount of money. Also, you could miss good momentum if you keep your value in USD, USDT or Euros.
Conclusion: There is a reason why most traders lose money and why intelligent investors HODL instead of trading.
It took me eight years to crawl out from under a 70% loss.
It is a pretty big deal in the non crypto world.
Even in bitcoin it took a long time for holders to recover from the Mt Gox crash.
This only happens if you disregard some commonly used swing trading basics, for example you should only enter trades with a minumum of 1 (loss)to 3(win) ratio, always set stop losses and use proper money management.
I am a bot, and this action was performed automatically.
Currently holding BTC, ETH and NEO.
Cashed out half my holdings on the way down from 19k December (not a lambo but had to get a car). Didn’t sell at the peak,abiut halfway down, but decent gains (got in in July 2017).
Now with things stagnating and dwindling, I’m thinking to start trading again.
Anyone still day/swing trading? Any pairs with regular-ish swings (forex style)?
I usually just check what’s got the most volume on binance or bitfinex and use tradingview to figure out my approach
Had a lot of losing trades but a lot more winning ones, especially since more the volume, more the volatility of the coin
If want I could lead you to some amazing ebooks on day and swing trading currencies 🙂
I think you’re right about the forex swings.
I traded a lot of Link when it was just gently rocking up and down, gradually accumulating more. It had a nice ‘rhythm’, never soaring too high nor dipping too much (besides the FUD days).
I want to find the next one to play around with, one that I don’t care enough about it to freak if it moons while I’ve sold and waiting for a dip.
I’ve made a good little chunk on KBR. Seems to quadruple and then slowly decline over a week or so then bounces back up.
one that I don’t care enough about it to freak if it moons while I’ve sold and waiting for a dip.
I don’t understand this. What’s the difference between doing it with ETH or something like COSS? If one moons, you’re okay with it, but if the other moons, it’s not okay? What’s the difference…
“HOLD” is what made Warren Buffett rich, on the other hand, somebody that bought a lot of Ethereum last December 2017 at 400 Euros and did HODL, that person today see himself with his Ethereum still at 400 Euros, however if that person would had sold his Ethereum on January when ETH price was at 1000 Euros or even 800 euros, depending on the amount of capital that the person spent in ETH, he would be much better off trading that swing than HODLing.
Please notice I am talking about “Swing Trading”, not “Day Trading”, I hope by now you all know the difference.
Swing trading can work but it’s still a gamble. Hodl 80% and swing trade with 20% maybe!
My opinion is hodl the majority of your holdings. Swing trade a small portion during bear markets if you are able to read markets