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Kind of new, but getting a hang of cryptos. This is about day trading.
I have twitchy fingers so I don't do well on long term hodl
Question: if I buy $100 of 10 cryptos ($1000 total), and auto sell each when they reach +5% , is this a good strategy for day trading? Assuming the 10 coins do increase 5% this day, I would get 50% profit in total right? Can someone correct me or find a fault of my idea. Thanks
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Another question:
Is it more profitable to buy lower priced coins than expensive ones? I know it's all about the percentages to it must be equal, but isn't a lower priced coin more likely to double , triple its price than an already expensive one?
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>>3219613
>>3219690
Assuming you're not trolling: if each coin rose by 5%, that means your initial investment rises by 5%. $1000 investment would net $50 profit at that rate.
Lower priced coins are more volatile and can moon or sink your investment. Lots of these are shitcoins with no uses except short term gains. Do your research.
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>>3219690
Price doesn't matter.... its all about the market cap and supply when trying to figure out if a coin is undervalued.
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>>3219745
this
some coins wont go up much, while others will increase in price a lot, but that depends on how many coins there are in supply.
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>>3219731
So would you say for short term or day trading, low priced coins would be best to trade? Or what would you say would be best indications when a coin is good for short term gains?
Sorry im very bad at math and very sleepy, if I have 10 coins with 5% each, does it not make it 50%?
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>>3219843
Nope if you make 5% or $5 on each of the 10 coins that you put $100 into then that equals $50 or 5% of the 1000.
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