Day trading vs HODLing
Which is better for making money?
Day trading vs HODLing
Which is better for making money?
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I see all these day trading threads and am genuinely curious. If you're in parts of Europe or the US, you're going to get absolutely destroyed on taxes day trading. Unless they've just built that in.
>saying "hodl" instead of hold unironically
Pick 4, or 5 SOLID projects, that aren't just a flavor of the week PnD shitcoins, and will actually stay around for at least a few years. HOLD those.
Then daytrade on the side.
My folio is 80% HOLD 20% Moon Missions.
Day trading if you know what you are doing.
Holding if you are a brainlet.
If I had hodled instead of trading I'd be a multimillionaire instead of a hundred thousandaire
day trade if you like to gamble. hold if you have other shit in life to do.
Depends. If a coin if fluctuating greatly, Day trade. If it has consistent but slow gains, hold.
Things to day trade: XLM, LINK, REQ
Things to hold: NEO, ETH, NAS, MGXL
This. Reddit needs to leave
100% hodling, unless you really know what you're doing when it comes to day tradings. I've had the following amts. of alts that would've really boosted my portfolio, but I kept trying to day trade and chase moons:
I plan on only hodling from now on and selling to buy beck in only when I'm certain there will be a dip.
day trade in bear market, you have to or enjoy being down 80% when the bear cycle finishes lol.
swing trade and hodl for bull market. The amount of times I've sold something to have it 2x the next day has made me numb.
In the current market holding is like the easiest way to make money, literally every coin went 10x in the last months.
Of course you can get some extra cash if you time the waves perfectly but it's just as easy to miss the next moon mission because you thought it would dip once more.
this pretty much and occasionally switch out coins if your stagnating on one for a while.
>If I had hodled instead of trading I'd be a multimillionaire instead of a hundred thousandaire
If I hodld instead of trading I'd have $16k as opposed to $500k.
I would agree apart from the REQ, it’s provided me steady gains. But the others you listed to hold are spot on.
you picked shit coins
No taxes for losses though
depends; i day trade and i made nice profits however if i held some coins i'd have more, if i held other coins i'd have less.
so maybe hold if you got more money to invest and day trade if you want to build it up.
How on Earth would they get my trading records if I sent my coins from Binance to Coinbase before cashing out?
If something moon hard I just sell off 50% of it and leave the rest in there for a couple of months and use the gains to trade for more shitcoins
I started with $300.
ie got unlucky
explain rationally why the fuck a bunch of retards bought TRX / XRP / LTC after the fucking founder sold all his coins (ffs) / really any coin for that matter they are all vaporware scams
made 20k just holding since the 28th
Don’t get me wrong, I currently am holding REQ, but recently it has been crazy (going from .76 up to 1.17), so until it calms down I’m going to trade and then settle in for a long term hold.
IRS is being sued by Coinbase because they want all users transaction and location data
IRS sees you deposited $200 in 2015
IRS sees you withdrawal $20,000 in 2017
IRS questions you and puts you in jail unless you can prove the money was legal
You didn't "make" anything unless you sold for Fiat retard
killed on taxes? who exactly are reporting these trades to commission or the IRS? Are these regulated exchanges? Are these considered options, stocks or are they digital token objects? do i pay taxes for trading playing cards? not sure what world you think cryptocurrency lives in but its not that one
yeah no...they publicized moving tron as part of the partnership they are announcing today...if you sold youre too weak and skittish for the crypto-game.
Lol to all the people avoiding the tax elephant. Unless you're playing with trivial amounts, the IRS is going to go absolutely gangbusters for crypto. It's in the news, it's new, there are stories of immense wealth generation, and ol uncle Sam is not going to make examples of people and take their cut?
Generally, the rule of thumb is - newfags trade, oldfags hold. You'll find out soon enough.
Part of my portfolio I day trade with. I choose coins that are likely to go up in the long run. Coins have to have a purpose, good team, not to many distributed coins yadayada.. Coins that you can hold in case the price suddenly drops 50%. Coins have to be below 10k satoshi. Coins have to be on the page 1 in traded volume.
Let's say I buy coin x at 950, it has a general upward trend. I know there is a psychological line at 1000. So I sell at 998, because there will probably be a sell wall at 1000, because 1000 is a nice number and everyone puts their auto sell at 1000. So I sell at 998, 998-950/950*100 = 5% profit. Cuz of the sell wall it'll dip down, and I rebuy at 950ish again. I do this a couple of times untill coin x finally stays above a thousand
actually it is
new tax bill defines crypto
IRS is already tracking the BTC blockchain with bots and is requesting US exchange user data
i still wont pay taxes though and have no plans on going to fiat
I can't tell if you're trolling. The like kind swaps were removed in the latest tax bill. Every crypto trade is a taxable event now. The IRS literally has an entire team tackling crypto.
Naw. Not sure how new you are, but years ago we had a /new/ board where I was introfuced to $30 bitcoin. Made my first coin purchases for $70 each back at mtgox, still have my yubikey they sent me for being a 'valued customer'.
If I had just sat on what I had instead of trying to multiply my holdings I'd be extraordinarily, disgustingly wealthy. My biggest fuck up was 20x leveraged futures trading at OKCOIN. I ended up fucking a chinese virgin because of my chinese trading, but thats a whole different story ;)
Which is why you don't take out the same way you put in.
Buy gold with crypto and sell it for cash.
I've made about 30% profits daytrading in the last month, would've been about 2000% if i just held.
18 out of the top 50 coins are at least 2x in one week. Only 2 coins of the 50 lost value in a week. Make your conclusions.
>see all these day trading threads and am genuinely curious. If you're in parts of Europe or the US, you're going to get absolutely destroyed on taxes day trading. Unless they've just built that in.
Day trading isn't fucking hard, it's just stressful and time consuming. I have a job and every break I take I'm glued to my phone.
have you ever heard the saying "there is nothing new under the sun"
that is you trying to evade uncle sam
everything that you can think of has been tried. you wont outsmart the "business" that can jail and shoot you if you dont pay and wants their trillions
gold is auto reported to the feds if its a transaction over 10k, and localbitcoins is full of feds
good luck cashing out user. i dont plan on it.
>still no wall
>pajeets in charge of internet
>big government taxing crypto into oblivion
>cops killing white people on the order of mutts
Trading if you know what you're doing.
Holding if you don't.
there is a reason only 3% of the population could vote in 1790
>testing day trading for 6 months
>go from 600 dollars to 300.
>fuck it drop 4k into ethereum, bitcoin, litecoin, ripple.
>am now sitting on 100k
fuck trading lol
you don't have to pay taxes if you don't have any fiat.
Daytrading, but ONLY if you KNOW what you are doing and also have a bit of luck.
I tried it and got burned, made only 30% gains. Had I just held the original stock I started out with, I would've been up 100%, without any hassle, no stress.
These kids are so naive and stupid they think these offshore exchanges email the IRS the entire trading history of their clients.
maybe you shouldn't trade just for the sake of it and doing a fucking trade already. You trade when you see a great opportunity.
>with a puny $600 stack
Found the problem.
I've lost out on thousands trying to day trade and follow the coins on Veeky Forums. Now I'm just HODLing ETH/LTC and some BTC for long term rewards.
My portfolio is 100% day trading funds. Ya people say you make more gains holding but IMO a gain doesn't exist until its part of your capital. I knew people who bought into ripple at 20 cents and are still holding it. I bought ripple at 2.5 sold at 3.3 bought again at 2.7 sold again at 3.2. Purchased again and waiting for btc to drop before I sell and buy again. ~ 500-800 in capital gains. Main thing is don't be greedy. Pick a percentage and once your coins grows up to your percentage SELL regardless of your attachment or hype.
Being able to predict the market is a meme.
I've made 70k from 4k by buying at atl and holding
>>still no wall
Illegal immigration down 70% and most of your family makes the frontpage news, crying over their deportations (always gives me a good chuckle)
>>pajeets in charge of internet
Better than a nigger or jews
>>big government taxing crypto into oblivion
Amendment was added by a Democrat-Colorado
>>cops killing white people on the order of mutts
Highest white birthrates in ten years. Our day is coming and we are awakening.
Be afriad, be very afraid shitskin.
Reddit get the fuck out.
If you know how to fucking trade, you trade.
Holding is for fucking retards who don't know what they're doing.
back to /pol/ sir
Some people are better hodlers, some people are better traders. There’s no one answer. Find what works for you.
I don't get how taxes work in the US.
How can they make you pay for each crypto transaction you make?
Here in Argentina I can pretty much buy and sell anything I want free of tax.
Up until it gets in or out of my bank, I don't have to pay or claim anything to the state.
You are a frog in the well, ignorance is bliss right?
Ultimately the money will reach your bank and then there will be a trail
If you sell it in person, you will already sell at a -20% the market rate and good luck finding a person to buy if you are a trader who cashes out on every third day
The last thing is we are grown ups and know what messing with the law could result in, they will send you a notice after 5 years will 100% penalty and the interest on the penalty compounded annually at 12%, at that point you will be paying 300% more than what you earned all to together
But anyways, good luck if you dont pay taxes
Sounds like your parents got you vaccinated
Also something to think about OP
I make tens of thousands every week in a bull market whilst sitting on my arse playing ps4, browsing the net, learning about new cryptos, going out with mates, working out etc
Day trader cucks have to sit in front of their computer all day watching graphs being all stressed.
Hmm yeah, I think I know which one I'll stick to.
I split 60/40
Seriously - I would guess 95% of holders are ahead of the idiots of daytrade.
My father urges me to do that instead of letting my positions open over night and to sell at goal.
So how does this make more than simply holding? What if it never dips below your selling point?
Day trading is gambling. One day you make 5000 dollars the next you lost 3000 dollars.
>Amendment was added by a Democrat-Colorado
republicans have no fucking spine
cant wait for everyone in DC to pay for being the fucking subhuman anti liberty scum they are
This is a pol/biz hybrid board. Always has been. Now, back to r*ddit, nigger. This is a board for winners. Pump chasers like you belong with your fellow cucked bugmen.
i hope youre mocking vaccination ironically
Literally no one is afraid of you faggot alt righters lmfao.
You only pay taxes on your net gains.
>kike fudders still attacking crypto with fake tax FUD
>the jews can't ever stop lying
If I "sell" an alt at .02ETH when it hits an ATH I have a "profit" followed by a simultaneous "expense "buying that .02ETH. Net taxable, 0.
I then wait for a dip and buy the alts back at .01ETH. My "sell" of .01ETH is then followed immediately by a "buy" of .01ETH. Net taxable, 0.
You do not owe a goddamn cent until you cash out into a fiat currency.
The holocaust wasn't real, but it should have been. You fucking kikes are like goddamn lice. Thankfully, we figured out ways to deal with lice.
so you’re a bad trader. thanks dor the insight
>everyone who disagrees with me is jewish
anti-semitic people sure do seem like they're firmly grounded in reality at all times, and aren't prone to conspiracy
>inb4 i'm a kike too, for calling you out
I can't tell you how many moons I've missed by day trading into shilled shitcoins and turning my back on solid long-term holds. Day trading is just a lie bag holders tell the gullible to convince other people to help them escape losses.
PS. How does it feel that you're literally going to be wiped out soon enough? Your grandkids wont look like you. Just ponder on that for a bit.
Your legacy is DONE and there's nothing you can do about it. The amazing thing is anyone that is a POC knows it and ironically mocks your leaders for letting it all happen.
We're taking over, boy. Just watch.
>new tax bill defines crypto
What tax bill, you fucking lying kike? You mean some unrelated real estate code that hasn't a goddamn fuck of a bit to do with crypto? You mean that one?
Day trading is not a lie.
You simply have to stick to a plan.
Not everyone can daytrade. If you make more money holding its better to do that.
Daytrading if you're good because of compound interest. But it's stressful as fuck and you need to invest a lot of time
I can't imagine anyone here liking trump after the new tax bill lol
you maga shiteaters literally like inserting spiky clubs up your anus lmao
Where did you guys learn how to beat these crypto markets and actually make any profit?
i..uhh.... ok user
You mean if it never rises above my selling point? In that case TA comes to play. If my coin is growing stale ill check the TA, lll check coinmarketcap.com and I'll check candlestick patterns from 1min to 12h/ one day. Candlesticks are my main indicator when I don't know what to do with a coin.
If I'm at a loss I don't sell. If I invest in a shit coin it's to pump and dump it within a half hour. Every coin I hold for more then an hour has something promising/unique about it
I'm literally just holding ETH/BTC/LTC because they're on coinbase and normalfags will buy them. It's easy passive money.
If you've never actually filled out investment tax forms you shouldn't even post.
Made 60k 2 days ago bumping and dumping, my first try
To be honest I was nervous af and will never do it again. Even with 5% like this day. Not for me. Wish you the best
I thought u learned your lesson when no one gave a shit about bitcoin cash
Actually, this was a somewhat decent board, filled with somewhat well-adjusted people. Now the culture has completely changed and it's a disgusting mix between /pol/ and /r9k/ ..angsty teenagers and edgelords.
daytrade during the day hold during the night
how hard is this
By losing a ton of money first. I'm mostly holding now but needed to day trade first to generate enough fantasy money from my initial investment that holding makes sense at all.
No way I'm putting my monthly paycheck into this shit when I can make an annual salary with one moonshot
like, everyone who day trades does this, that's why it's called daytrading but nice advice regardless
someone with a brain on this board. si many stupid normies have flooded this place
It was on AERON
Which is why I don't invest in that shitcoin. ETH and LTC actually are useful as crypto which can be used to transfer without heavy fees.