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Quote from: Kara3 on September 28, 2023, 07:19:52 PM

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Trading bitcoin is indeed safer than altcoins, I often trade altcoins and the results are disappointing, small price fluctuations of around 1 to 5 percent are ideal for making a profit from trading bitcoin, while fluctuations in altcoins which can reach tens or even hundreds of percent are like a roller coaster.

I wanted to say instead "Holding bitcoin is safer than altcoins" when trading has the equivalent risk that altcoins have. My assumption is that you were referring to the risk associated with intraday trading. To trade and make profit from a certain market requires substantial knowledge about the market including basic and fundamental knowledge about that asset. If your knowledge about altcoin market behavior is better than that of bitcoin then you will do better in trading altcoin.

The risks of trading bitcoin and altcoins are the same because both have price volatility. Traders who are experienced and have good analytical skills can use everything to gain profits, but they obviously have to consider the risks of each coin they trade. Altcoins are a good alternative to choose in trading, but they should close positions as quickly as possible after making decent profits.

I don't trade as much as other traders, but several times altcoins have actually been more profitable for me than trading bitcoin. So I never blame traders who choose altcoins to trade instead of just bitcoin, that is their choice.

Book profits should be based on various factors. Sometimes a token rallies up way before the news event happens. This rally can continue until the end of the events which depends on the importance of those events. There is a saying in the crypto market and that is "Buy the rumors and sell the news". If there is a rumor going on then you should start accumulating that project and book the profit as soon as the news event releases.