Quote from: SummerBliss on October 02, 2019, 12:46:06 PM

Quote from: jakoylantern on October 02, 2019, 10:05:12 AM

For me, it depends on what type of person you are; if you are a busy person and making trading as a part-time job, I think you need to go in long trading. Because in daily trading, you need to focus on the cryptocurrencies price, also require too much effort, stress, and quick decision. But in long term trading you just need to wait for your profitable rate to sell your cryptos, but the difference of the daily trader to long trader, the daily trader can gain money daily and much high compared to the long-term trader.

Cryptocurrencies don't give you assurance in long tern like mutual funds do. You can't say after 5 years, you will approx. make XX% profit on your investment. It may be possible that your investment doubles the next month or fall to 80% after 5 years.
Therefore, when dealing with something as hot as cryptocurrencies, better remain as close to market as possible. Follow all news, read charts everyday, anticipate events. Keep your portfolio updated or your investment will die with dead coins.

From my side I do believe that cryptocurrencies are the actually the best long term investment you can make, ratio risk/reward is breathtaking. But always keep in mind that you need to invest money you're able to lose.

Quote from: man22555 on October 02, 2019, 05:38:40 PM

Nosedive into daytrading. Learn about candlestick patterns and stuff. Don't follow signals group and study the sentiment continuously.

That's right, at one point I followed signal groups etc, I lost a lot of money. Especially when it's related to cryptocurriences there is always a pump and dump story behind.