There's so many 30-70% daily gains on Poloniex and Bittrex, and at least 300-1500% gains monthly, you'd think that if you had just a little luck, confidence and intuition then you'd be a millionaire in less than a year.
But I know that's not true. What is the reality of crypto currency trading, /biz/??
I've been casually trading crypto for years. In order for you to really make money, you need to have 3 things:
1) Lots of time on your hands
2) Balls
3) Luck...lots of luck
And not many people have that. Crypto market is just like a casino. Don't be fooled, for those 70% gains there are also losses. Trading can drive you crazy too, especially day trading, I do not recommend it.
There were big gains I made, but also big losses. In the end I made a little bit of money but I found my energy was better spent building something substantial (my side business)
Also, there is no fast track to being a millionaire, unless you organize PnD's. Just being honest. You win some, you lose some. Sometimes I made great calls on coins like SYS and they exploded and other coins like DGB fell flat and I am still holding the bags.
At the end of the day its still gambling, just on fast forward. The one advantage it has over the stock market is just that, its fast, and its super volatile, so something may pump and you'll miss that pump, but it may pump later.
But if you have good intuition you can make some good calls on what to trade. I made a crapton of money off of Trump, I made like 5 BTC off of it, didn't listen to the naysayers on here, and its gonna pump again.
If you have good intuition you can make some good calls. But you need to feel the market out.
I'll give you my hints, this is the year of meme and politics coins, meaning stock up on Trump, Putin, Lepen and Pepecash. Also BTC is bullish for the rest of the year, keep that in mind, its going to go up. So I would keep some money in BTC as well.
And dont listen to the idiots that say Trump won't pump again in the Trump thread, it will, you need to have patience
>>1837975
The reality is it's way, way easier than stocks or any other markets.
>>1838002
>>1838009
>>1838021
Free time eyes. Balls yes(till I lose my patience and waste everything). Luck, can't say I have.
Anyway thank you for your input, anon. Together with Trump, Putin and Lepen I'll try to get into pepecash even if it's outside my comfort zone.
Patience seems to be a big defacto. I always switched between 20 coins, ending in some small, but steady losses. Got to judge which 1 is the winning hand from 1/20 coins and then stare at it like a hawk so the faggots don't start to dump it out of a sudden than you initially expected.
Especially staring at all those resistances coming and going just makes your teeth grit and your stress build up.
Boolberry ticked me off to see it going from it's usual 10k-20k mini P&Ds all the way to 83k like it was Pot, Fldc, ETclassic.
>>1837975
Too little liquidity to make real money. The redpill is that you need to manipulate prices significantly by shilling to create enough liquidity to get out of large positions.
Long term investment in crypto is good if you think a coin has a future I.e. early adopters of bitcoin, ethereum, and some of the other big coins.
>>1838009
can I add you on discord? I wanna pick your brain some more
>>1837975
Lots of these are very iliquid markets. GL harvesting millions out of something that trade $5000 in a day.
and bump
>>1838704
>discord
What is /biz/ discord