Quote from: chaser15 on January 24, 2017, 11:49:20 AM

Quote from: XbladeX on January 23, 2017, 10:10:25 PM

Quote from: ophyrim on January 23, 2017, 05:48:39 PM

Yea the volatility of the altcoin maybe is the key factor for trading but there are still 3 important questions we can ask for the trade.
1- Which altcoins do you prefer for your daily or short time trade generally?
2- And why do you prefer?
3- Do you have any daily income goal or you trade as much as you can with this altcoins?

IMO best coin for day trade are:
Litecoin and Etherum - high volume and pretty big stability
allso using them you can use laverage in some places for trading.

For day trade, Litecoin and Ethereum are not fit for this since they are in the status of their resistance level. Day trades are meant for those who have at least 20-30% in their volumes in daily basis. But Im not saying they can't be considered. It's just that you will spend many hours monitoring the price for that mentioned cryptos just to make a profit doing day trade.

Feedbacks are welcome to my statement.

I don't believe there is anything more to daytrading altcoins than luck - and being on the "inside". For most of them the market is so small that market force dynamics is easily outweighed by coordinated manipulation. If you are on the inside then you are a "whale", capable of making market manipulating moves (or you are working as part of a team, so collectively you are a whale). Everyone else is really at the mercy of these hands, and when they decide to make their play. Time it right and buy in when they start to pump a coin and you are likely to make a win. The problem is that if you're trying to follow them, they are masters of putting out "fake signals" to make sure that those who aren't on the "inside" will carry on buying well past the point that they start dumping. And when the inevitable crash comes, very few of these outsiders will have the skill to exit their position at the right time.
From what I can see they are even experts at deliberately making people feel like they are on the inside - Twitter groups and even posts on here claiming to give out the necessary signals. Generally the info they give out will be a day or two behind what they are actually doing, so these psuedo-insiders who think they are onto a good thing end up funding the whales eventually, like everyone else..

If you want evidence at this just look at the altcoin charts. Just about every coin starts with a spike in value when it is first offered, or appears on an exchange. At this point, the whales already have their stock, so they just have to convince everyone else to start buying in. When the whales start selling, the price drops, obviously, and the adopters - those who have bought the coin on the advice of the whales, or by reading "signals" in altcoin charts - panic and start to sell, too, causing a crash. The price never recovers - as you can clearly see from watching charts, 99% of coins just see their value gradually diminish to close to zero, as they don't ever achieve any meaningful market penetration, because they don't really do anything useful in the first place. How many coins have we seen achieve any level of stability or stable growth? About 4 maybe, out of thousands? The rest only really existed as a vehicle for these whales to artificially pump and then dump them.

So, that might be very obvious to a lot of the old hands here, but I still see people asking questions which shows there are newbies coming in who aren't aware of this overbearing dynamic of the market. Have fun trading altcoins by all means but please don't consider it any more reliable a way of earning money than fruit machines or lottery cards (or provably fair online Bitcoin gambling, at least). Unless you happen to be a whale in a position to manipulate the market - in which case I don't think you would be asking questions here.