Imagine turning $500 into a six-figure retirement fund. Forget the Wolf of Wall Street, this is a valid possibility in the crypto world for anyone with skill, patience and discipline. Last year’s growth in cryptocurrency was nothing short of surreal, and 2018 looks set to be bigger. Day trading cryptocurrency could be an unbelievably profitable venture for those who put in the work and remember the golden rules of trading.
Yeah, I’m starting to get the impression that one’s intuition is very important when playing this game. Cryptos are still in the infancy stage, so you’d have to be on your game in order to live off of day trading.
Almost every crypto-list today starts off with the king – Bitcoin! Satoshi Nakamoto created Bitcoin a long time ago, and it was the first cryptocurrency to step blinking into the bright light of the world! Bitcoin surpassed all expecatations and continues to grow in value and popularity – despite recent setbacks and a lot of FUD from trolls and haters (read: traditional banks) online. Will Bitcoin continue to increase in value in 2018? Recent trends say: Yes! In my opinion, any cryptocurrency portfolio should hold some Bitcoin.
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I don’t understand bitcoins. I have nothing to analyze to tell me what they are actually worth, and if they are underpriced or overpriced…just that their price is changing. I have no sense of confidence that my bitcoin hoard will not just vanish one day.
What goes around, comes around :-). Luc is one of the selfless people that likes to share, thank God for people like him. And regarding sums: people, do not disclose how much you have or are making, as that will make you a target. Just enjoy Cryptoland, make some money for yourselves and your familes and try to have fun along the way. Peace.
You can run a web search. First learn the indicators, then the patterns, and most importantly practice by looking at old charts and pick out the trends. Whenever you start trading keep a log of screenshots and your commentary/ forecasts. That’s the best way to get confident with using the charts IMHO. Oh yeah, and don’t fool yourself into thinking that the uptrend you buy into won’t go down! It will always go down! You’ll find that incremental gains are more reliable and profitable (most of the time)
This counterparty risk and risk of loss from hackers is another reason why some investors don’t hold their Bitcoin on exchanges directly but transfer it to an independent wallet (which carries its own risks, as outlined above).
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Hey Sirus, at the moment no I don’t but I am soon going to be partnering with some close friends who have had excellent success with crypto also and we’ll be expanding the info we have available for you guys.
Don’t be greedy – the crypto space is very volatile but it’s not too dissimilar in its trading and price discovery than the stock market. Rallies eventually lead to selloffs and its better to lock in profit early than take on unnecessary risk for a slightly higher move. Also, sometimes doing nothing is better than doing something.
Following this and into 2013 Plus500 added Bitcoin. I was going long at night and waking in the morning to see my money go up and up, but one night the price crashed, and I got margin called. Over the next two months, I was chasing and kept losing. Finally when my losses hit -£20k I closed my account. I felt sick, and I reckon it took a good month to get over, maybe longer.
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I’m not at all against mining or staking as a way to earn money in crypto. In fact, I intend on staking Ethereum when it is possible. The reason I don’t pursue these routes right now is because day trading can offer a much higher return on investment if you are willing to learn and be disciplined.
Trading in Cryptocurrencies is suitable only for experienced investors with a high-risk tolerance considering these products are with very high volatility. You may lose all your initial investment in a short period of time. If you intend to buy, hold or trade cryptocurrencies via CFDs on our trading platform, please exercise extreme caution and ensure that you fully understand their specific characteristics and the risks involved.
Well I really dont want to post numbers, but lets just say, im not trying to help others to get any financial gain from anyone. I make plenty trading.. And I trade mostly stocks.. But the crypto world is full of opportunity right now, and it would be sad to miss out.
People here seem to be against day trading. But whats the issue with buying a relatively stable currency (Bitcoin, Ethereum, etc) and just buying large quantities on the -5% to -20% days and selling on the same or next or couple of days leter when it hits +5% to +20% days.