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If you are short term day trading you're likely to be a victim of pump and dump groups and manipulation. Going long on high market cap coins with a longer time
by coryl 9y ago
If you are short term day trading you're likely to be a victim of pump and dump groups and manipulation.
Going long on high market cap coins with a longer timeline is a relatively safer bet.
- curiousgal 9y agoThere are fees to any position you hold so even though going long is indeed the safe bet, having a longer timeline requires deep pockets.
- bonestamp2 9y agoYou can avoid the fees on some bitcoin exchanges if you're a market maker, and with the volatility that's pretty easy most days. I made a couple 0% fee trades today alone. But, the second part is definitely true... you still need deep pockets to hold a long position.
- coryl 9y agoBuy and hold doesn't have any recurring fees. If you look at the opportunity cost between crypto and any other financial security in the market, its an easy decision.
- mitchellberry 9y ago"Fees" I see the margin lending rates on some exchanges right now being 0.003% daily. This is for coins that move 10% a day. Probably fair to assume fees aren't what the traders lose sleep over.
- onion2k 9y agoThe rogue traders aren't looking for a safer bet.
- coryl 9y agoExactly, which is why the safer bet is going long on high market cap coins, not small volume coins where pump and dumps can cause liquidation events.