Quote from: GreatArkansas on November 11, 2017, 10:48:45 AM

Day trading is much better for me, because through day trading, you can gain profits. Even small profits, it's important. You entered in trading because to gain profits not losses.

If you don't day trade, then when do you guys make profits? For example do you have a goal on how much you want to make per coin? Say you buy 1000 shares of say lisk at 5 dollars each. Is your goal something like when it hits 15 dollars and you 3x your money... you cash out?

The thing is there are so many swings where prices go down and go up. So im curious can't you make more money buying when prices get very low... then selling when it goes back up? Then wait for a big dip and then rinse and repeat? Of course the main issue is you don't know how long that takes but as long as you don't sell it for below what you buy... then you don't lose any money unless the coin never goes back to that price you get it at.

The thing is are there people that daytrade and say do this for 1 year and when they factor in everything, they could make say 3k a month etc on this? Basically just buy when prices dip a lot, then sell when prices go back up? And of course have a set plan on what price they will sell it at? Say lisk is goes to 5 dollars. You buy 1000 of them at 5000 dollars. Say your goal is to sell when it hits 6 dollars so you make 20 percent profit or 1000 dollars. Now this could be very quick or take very long. Thus the price could go down to 3 dollars each but if you don't sell, you do not lose. Then once it hit 6 dollars, you sell it. Is this what daytraders do? The other issue though with daytrading is say you sell it at 6 dollars. Now it goes to 10 dollars, 25 dollars etc. You would made more money if you hold it. But if you hold it, you aren't having income coming in. So what is really the goal here? If you invest/trade bitcoin as your job, then isn't day trading which means buying when prices dip and selling when it goes up pretty much better than just holding? Because if you holding... when do you plan to cash out your profits then? Like is it when lisk hits 25 dollars or something like that? And the other thing is when you cash out... does that mean you are done with these coins? Or you go to another coin? And the thing is when you do cashout, what happens if lisk goes up to 100 dollars etc. So if you held it, you would have made a lot more money. So what is really the end goal here? Make another where okay you don't have to work anymore with your daytrading profits? Or make enough from daytrading and then just hold a certain percentage as long term investment?

Because if you are holding, how long are you holding for? I mean if you are holding your coins where if you cash them all out, and you have 1 million dollars, that would be great. But who knows how long that would take. What about your expenses etc?

Also im curious but how much money would you say most of you people need where you don't have to work anymore? Would 1 million be enough? Would 3 million be enough? Would 5 be enough? The thing though is at the end, you would still want some coins to hold no matter what right? Obviously if people have a choice of cashing out 5 million dollars that would be great. But wouldn't most people probably cash out like 3.5 million or something like that since the remaining 1.5 million could make even more money? Its like once you cash out everything, then you cannot make anymore money. However, if you cash out everything and eventually all the coins go down, well that would be ideal for the people who get rid of the coins. But im curious what is the goal for most people here? Hold and don't look at prices much since you don't trade? Or just daytrade and make profits? Because if you hold and if your coin goes up, and when you cashout, you are making a few cashouts only. With daytrading, you are doing much more of it.