Altcoin is better for day trading
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Webbers UX
Elite Member
- Apr 3, 2010
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The higher the market cap, the more buy/sell orders you need to move a market.
Smaller Caps = Easier to see massive movements.
For example if you take a smaller coin (which is what i did when I started day-trading pre-crash), it's a lot easier to see a 70% movement on a smaller coin than it is on BTC.
Smaller Caps = Easier to see massive movements.
For example if you take a smaller coin (which is what i did when I started day-trading pre-crash), it's a lot easier to see a 70% movement on a smaller coin than it is on BTC.
How do you trade this altcoins
healzer
Elite Member
- Jun 26, 2011
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It really depends, and it's not generally true.
Some altcoins are practically dead, while others are super volatile.
Comparing a random altcoin with Bitcoin is like comparing apples with bananas.
But it is true to some degree, as mentioned before, some altcoins are very volatile , thus they can jump up and down in a short amount of time by a few pct% -- this is where profits come in.
Some altcoins are practically dead, while others are super volatile.
Comparing a random altcoin with Bitcoin is like comparing apples with bananas.
But it is true to some degree, as mentioned before, some altcoins are very volatile , thus they can jump up and down in a short amount of time by a few pct% -- this is where profits come in.
Webbers UX
Elite Member
- Apr 3, 2010
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CoinMarketCap.com - find the altcoin, open it, click "Markets" To see where it's being sold, and buy/sell from those markets.
braziliano
Newbie
- Jun 7, 2009
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Please be very careful with Day Trading. If you have to ask why AltCoins are better to day trade you should not be doing it yet as you have some fundamentals you need to pick up first before putting money in. Youtube has lots of fundamental videos and technical analysis for beginners.
To answer your question directly, volatility is extremely high on Altcoins and depending on which coin you`re looking to trade, some have just the right amount of volume that allows you to scalp quick wins from 4hour charts and so forth. I guess that could be said about most crypto coins, but ALTCOINS specifically are a rollercoaster so if you know what you`re doing and you have a trading strategy in place, you can do well with day trading!
To answer your question directly, volatility is extremely high on Altcoins and depending on which coin you`re looking to trade, some have just the right amount of volume that allows you to scalp quick wins from 4hour charts and so forth. I guess that could be said about most crypto coins, but ALTCOINS specifically are a rollercoaster so if you know what you`re doing and you have a trading strategy in place, you can do well with day trading!
I know this, was talking about trading methods or strategy
Webbers UX
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Turned a test $5-10k into $35k in ~20 days by jumping from one ship to another, pre-crash. Waiting for the market to be bullish before doing short-trades again.
The above was done via catching on events early before most people buy in. Patience is important.
Luka
Could you share how you did that? Method, strategy, trading pattern etc
Webbers UX
Elite Member
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I was getting calls from friends too (and then did my own heavy research) along with doing my own research on my own coins.
It's basically looking for an event that's 2-4 weeks down that will make the price go up. Many people start doing it a week or two prior to the event, while you can do it 3-4 weeks earlier.
For ex the ZCL fork. ZCL is useless but "Bitcoin Private" was worth buying ZCL for. Then for a long time people were waiting for an announcement/date of the fork, and THEN they bought. What you can do is just buy, and be patient. While everyone else waits for the announcement to buy. I'm still keeping my BTCP as I'm confident it will grow well, eventually.
Following Twitter to see any news, updates etc is really worth it. You can also buy coins before they go on another exchange. Usually it rises quickly afterwards.
Some have rebranding too, and rebranding affects the coin's price (whether positive, or negative).
Along with other ways. Everyone has their own methods, sources etc. Find and see what works best for you.
Luka
- Nov 16, 2011
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Yes, you can easily make 5-10% in a day with solid coins.
- Mar 21, 2013
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Most people do 10% a day and then lose 70% in one move. Nobody does consistent gains in trading.
- Nov 16, 2011
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I agree. One should wait for prices to recover though. Only issue is that money gets stuck for that time.