Quote from: bobelr on November 13, 2019, 09:29:42 PM

Quote from: boris1044 on November 13, 2019, 08:00:21 PM

Quote from: bobelr on October 17, 2019, 12:24:45 PM

Before now, I have always been getting it wrong about cryptocurrency. A friend recently opened my eyes to see how I could have increase little coins I have to fortune overtime by day-trading. But I am no that type. I had always thought I could only make fortune in crypto by hodling a certain coin for long.

13 months ago, I bought SNTR worth about $100 hoping that in few months I'll wallow in milliions of dollars like Ian Balina , but the reverse is often the case in the subsequent ones I bought. Sad fact, $100 worth of SNTR 13 months ago now less than $2.

Recently, I watched several videos of how to analyse a coin or token to invest in, gained some good knowledge of the basics. I discovered day-trading tokens like DX token and AWC could have actually make me what I hope to be If i had the right information. But its never too late. Yet, I am drowned in mentality that hodling for long can only be the fortune I hope for. Reason I need help.

long-term hold investing:

Pros:

Reduced tax rate thanks to long-term capital gains.
More hands-off than short-term trading.
Allows for cost averaging.
Forces you to research projects thoroughly.
Less paperwork involved for income reporting.

Cons:

You may miss out on large gains.
Not as exciting as day crypto trading.
Harder to make daily gains or income.

day trading:

Pros:

Potential for big gains.
Can potentially provide you a new income stream.
More exciting than a long-term holding.

Cons:

Carries higher risk than a long-term holding.
Higher tax rates.
More paperwork is involved.
You could end up holding a useless coin when it dumps.

Hope it can help.

Thank you for the headstarts. That's a bang of advice. But how could day trading make one end up hodling shit coin when dump? Since he sells everyday and keep track of coin.

Trade seems to be more suitable to do nowadays. Because I see there is a very good opportunity to make a profit by presenting trading.
Well, with this special concept of trading being the right choice and friendly to me. So feel free to choose trading for this time because this is a day of trading for everyone who is lucky. I hope all of you are also a lucky person.