Hello,
I kwow it is profitable to buy when the price is low and sell when the price is high.
What I see in the currency exchange I am trading on are 24 hr percentages.
Sometimes the percentages show a 'minus' -, and sometimes they show a 'plus' +.
Is it a goog idea (when you think in terms of profit) to buy a coin when the percentage shows for example -5% and then sell when the percentage shows +5%?
Thanks
No, it is not a good idea, because exchangers generally only show the movement changes of the last 24 hours. You should use also an app like
blockfolio or visit
coinmarketcap.com to see at least the last
three months. As I was new to day trading, I trapped into those + and - percentages with quite big loss, because I baught the cryptos on the highest points, compared to the last 7 days.
You have experience in trading and know all coins history then you can predict based on 24 hours %. but it is risky, just go through once last one month price chart you will get to know how the price fluctuated. At present day trading is a very risky job. Last one month day I think most of the day traders are in loss.