Quote from: sabina5858 on July 20, 2018, 09:51:51 AM

Quote from: Romy95 on July 20, 2018, 09:50:51 AM

What do you think about traiding?
I was looking at the possibility of investing in several Altcoins as part of my trading by selling off Bitcoins. I do feel that with proper planning and execution, the profits that could be reaped through these Altcoins by day trading in a week would be far superior to that of Bitcoin.

It is true I am talking in terms of a short term gain. BTC is certainly a long term investment but what about the short term gains? As an example, even if I invest in 1000 coins of IOTA or 10000 coins of NEM, I am assured of greater volatility in the market for these coins compared to that of BTC. If NEM makes a high on a particular day even by 0.05$ USD, I would make 0.05x10000 = 500$ USD in a day if I sell all my coins at that price.

Of course, trading does involve many other practical factors which make things not as simply as I write here. But being a pro I can simplify the complexity and say that it is certainly possible to make it so.

But will this not be a way to make decent income every day? When you invest in cryptocurrency, it is a need for one to continually observe the market trends. When one is able to understand the intricacies of the market then it is better that he takes up (day) trading.

After all it is important we make money on a regular basis apart from the long term investment isnt it so?

Unless you are a very experienced trader, I strongly suggest you not to do that.
Altcoins pose substantial risks, even in day trading: subpar exchanges, vulnerabilities of all sorts, poor liquidity that can damage your profits.
Greed is good, but I think you can fulfill it with bitcoin.

I'm not really good at trading but I can give you some advice. Buying these Altcoins will put you in big risk, we can say that ofcourse they might get you big profit but it's not also impossible that the opposite one happens. Holding these Altcoins is just like holding Bitcoin, I can tell that because their prices are both volatile but it is still much relieving if you Hold Bitcoin for short terms or even Long terms than Altcoins