02-11-2021, 09:52 AM
What I’ve learned about day trading crypto
<!-- SC_OFF --><div class="md"><p>I’ve been trading crypto for quite some time. I’d like to share what I’ve found about hodling and day trading. </p> <p>I started to day trade crypto last year. I usually only held bitcoin and ethereum. I had modest gains from holding but wanted to try and make more money by flipping coins and building up my portfolio on highs and lows. </p> <p>At first it worked great and in a month span I doubled my “day trading” account. At the same time my other holding account was up about 20%. I thought I was doing great. And moved some of my holding funds into my day trading account. </p> <p>Now fast forward to today and I’m up a total of 145% on my day trading account but my holding account is up 300% since that moment (about 2 months). </p> <p>Looking back I see how much money I lost out on from not holding onto my coins, and instead switching between coins. I was heavy in UNi when it was about $3. I sold around $4 but now it’s at $20. Same with Atom, ALGO, and XTZ. Sure I still made a good return, but I could have made an almost 1000% return if I would have just held it in any one of those (minus XTZ). </p> <p>Conclusion: I think that during a bull market (which we are in now) its better to just leave your money in a specific coin instead of switching it around and trying to time the dips. Instead of trying to time the market ups and downs, reload when a coin drops significantly and continue holding. Keep adding to your position on the dips.</p> <p>Also since it’s altseason, most altcoins will outperform bitcoin, so throw some money into the ones you believe in and leave it there. Don’t sell if it goes up 25% in one day. Don’t check the prices every 5 minutes, that messes with your emotions. Make goals and stick to them. Write them down. </p> <p>Tl;dr</p> <p>It’s hard to flip coins and daytrade crypto for the average investor. In a bull market, the best thing to do is DCA and leave your money in a coin and not try to time the market. Good luck guys!</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/JazzyJayKarr"> /u/JazzyJayKarr </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/lgxd22/what_ive_learned_about_day_trading_crypto/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/lgxd22/what_ive_learned_about_day_trading_crypto/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>I’ve been trading crypto for quite some time. I’d like to share what I’ve found about hodling and day trading. </p> <p>I started to day trade crypto last year. I usually only held bitcoin and ethereum. I had modest gains from holding but wanted to try and make more money by flipping coins and building up my portfolio on highs and lows. </p> <p>At first it worked great and in a month span I doubled my “day trading” account. At the same time my other holding account was up about 20%. I thought I was doing great. And moved some of my holding funds into my day trading account. </p> <p>Now fast forward to today and I’m up a total of 145% on my day trading account but my holding account is up 300% since that moment (about 2 months). </p> <p>Looking back I see how much money I lost out on from not holding onto my coins, and instead switching between coins. I was heavy in UNi when it was about $3. I sold around $4 but now it’s at $20. Same with Atom, ALGO, and XTZ. Sure I still made a good return, but I could have made an almost 1000% return if I would have just held it in any one of those (minus XTZ). </p> <p>Conclusion: I think that during a bull market (which we are in now) its better to just leave your money in a specific coin instead of switching it around and trying to time the dips. Instead of trying to time the market ups and downs, reload when a coin drops significantly and continue holding. Keep adding to your position on the dips.</p> <p>Also since it’s altseason, most altcoins will outperform bitcoin, so throw some money into the ones you believe in and leave it there. Don’t sell if it goes up 25% in one day. Don’t check the prices every 5 minutes, that messes with your emotions. Make goals and stick to them. Write them down. </p> <p>Tl;dr</p> <p>It’s hard to flip coins and daytrade crypto for the average investor. In a bull market, the best thing to do is DCA and leave your money in a coin and not try to time the market. Good luck guys!</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/JazzyJayKarr"> /u/JazzyJayKarr </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/lgxd22/what_ive_learned_about_day_trading_crypto/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/lgxd22/what_ive_learned_about_day_trading_crypto/">[comments]</a></span>Kind Regards R