Both knowledge and money are necessary to make good profits from the markets, for example if two different persons both had the same knowledge and skill to trade the markets and both made the same trades and obtained on average 1% on profits with each one of their trades, but one trader had 500 dollars and the other 1 million the first trader would make 5 dollars per trade while the second trader will make 10k per trade which is a massive difference on their outcomes despite both of them having the same skills.
Have skill and knowledge but without have money for trading looks nothing because can't earn profit, exactly true what did you compare although have good skill and knowledge when tracking what kinds coin for trading but $500 fund for investing just earn small profit. Different with trader or investor have much money for investing and ability earn much profit, need knowledge and much money how to be success in cryptocurrency trading, without both of thing looks not easy for earn profit.
Topic: Can Day Trading be profitable in Crypto ? - page 4. (Read 1250 times)
Thanks KingsDen, that was fun to read. I laughed.
Day trading is one of the most difficult, dangerous, risky and exhausting activities in trading. You will not get such psychological pressure anywhere else as in trading, because it is very difficult to maintain some kind of calmness when the price jumps up and down every day. And this is especially pronounced among those who trade with stop losses, putting themselves at even greater risk of losing some of their money, and then comforting themselves with the fact that, well, at least they have not lost all the money.
What kind of security are you talking about in day trading? I devoted over 4 years, on average 15 hours a day, to such trading. I had a well-developed strategy, proven signals for entering transactions, but every day the market tested me for strength. This is especially noticeable when you trade 4-8 bitcoins rather than $100. And the more time I did this, the more I realized that I needed to run away from this risk to which I expose myself and constant psychological pressure. Although, it would seem, what's the point of running away from an occupation that already almost consistently brings money? In addition to the monetary component, there is also a risk, and where there is a risk, psychology always puts pressure on you, testing your nerves for strength. Day trading is not worth doing for a long time. There are no long term benefits compared to investing.
Please don't put words like trade and security in the same sentence anymore.
There is nothing safe in this activity, especially in one of the most difficult types of trading as day trading.
Agreed, those which say that day trading is easy have never really tried it or they have not done so for long enough, I always compare day traders with air traffic controllers, which is known to be one of the most difficult and stressful jobs that exist, you cannot even blink otherwise you may miss an important piece of information which could cause a disaster, not only that you need to always perform at your best because even the slightest drop in your ability means that you will not obtain any profits during that day, and while many day traders stop due to the lack of profits, even the ones which are successful drop it as it is almost impossible to endure such difficult conditions for long. Day trading is one of the most difficult, dangerous, risky and exhausting activities in trading. You will not get such psychological pressure anywhere else as in trading, because it is very difficult to maintain some kind of calmness when the price jumps up and down every day. And this is especially pronounced among those who trade with stop losses, putting themselves at even greater risk of losing some of their money, and then comforting themselves with the fact that, well, at least they have not lost all the money.
What kind of security are you talking about in day trading? I devoted over 4 years, on average 15 hours a day, to such trading. I had a well-developed strategy, proven signals for entering transactions, but every day the market tested me for strength. This is especially noticeable when you trade 4-8 bitcoins rather than $100. And the more time I did this, the more I realized that I needed to run away from this risk to which I expose myself and constant psychological pressure. Although, it would seem, what's the point of running away from an occupation that already almost consistently brings money? In addition to the monetary component, there is also a risk, and where there is a risk, psychology always puts pressure on you, testing your nerves for strength. Day trading is not worth doing for a long time. There are no long term benefits compared to investing.
Please don't put words like trade and security in the same sentence anymore.
There is nothing safe in this activity, especially in one of the most difficult types of trading as day trading.
You know you can really make money doing trading here in cryptocurrency. As long as you know how to apply the right analysis, read the graph of the chart, and understand the signal tools when to buy and sell. And if you understand these things and know how to use them correctly, there is no day for sure that you will not make money but instead every day you can earn cryptocurrency depending on what you want to trade on an exchange platform.
So if others who don't have enough knowledge about this cryptocurrency are able to earn daily trading, how much more so if your knowledge and ideas about it are enough. And a lot of the traders here as well are taking advatantages this opportunity to earn because of the volatility it has here in the market.
So if others who don't have enough knowledge about this cryptocurrency are able to earn daily trading, how much more so if your knowledge and ideas about it are enough. And a lot of the traders here as well are taking advatantages this opportunity to earn because of the volatility it has here in the market.
it depends on the trader, if a trader does not have good and correct trading knowledge,
and does not master the science of TA, then I guarantee that daily trading will be in vain,
because you lose, before trading daily in crypto you should study first.
Most of the new traders prefer day trading, I think I will recommend them that thing as well. They can learn basic things in day trading if they want and yes all those knowledge they obtain from books, videos or other people can be applied in day trading but then they still need to take a risk. Having some losses in day trading is okay, you will still earn in day trading. But long trading can be more profitable during this bear season. and does not master the science of TA, then I guarantee that daily trading will be in vain,
because you lose, before trading daily in crypto you should study first.
The simple answer is YES. The fact that you made some analysis, therefore I know you can do it.
But to target profits on day trading, it needs a serious dedication from you as that's not simple as it is.
Just continue on doing that and eventually, you will now automatically what to do on the way.
that dedication that sometimes not all novice traders have. to learn day trading certainly takes maybe more time in the market. applying the analysis he did of course also important to try how accurate what he had run.But to target profits on day trading, it needs a serious dedication from you as that's not simple as it is.
Just continue on doing that and eventually, you will now automatically what to do on the way.
when a person trades more often and is in the market, I think his analytical skills can improve. no one is suddenly smart and lucky in the crypto market. everything takes time.
The simple answer is YES. The fact that you made some analysis, therefore I know you can do it.
But to target profits on day trading, it needs a serious dedication from you as that's not simple as it is.
Just continue on doing that and eventually, you will now automatically what to do on the way.
But to target profits on day trading, it needs a serious dedication from you as that's not simple as it is.
Just continue on doing that and eventually, you will now automatically what to do on the way.
This may be a simple example, but in fact, there is no simple way of trading There will always need efforts and learning to get the profits and earn money from trading, moreover day trading. For some people, day trading needs higher attention, needs more time, and will spend our life very hard, but in fact, many people on day trading are successful enough. The success of day trader and investor may be different. But if you are asking about can day trading be profitable,the asnwer will be exactly YES
it depends on the trader, if a trader does not have good and correct trading knowledge,
and does not master the science of TA, then I guarantee that daily trading will be in vain,
because you lose, before trading daily in crypto you should study first.
and does not master the science of TA, then I guarantee that daily trading will be in vain,
because you lose, before trading daily in crypto you should study first.
As other users have said, you may be able to take advantage of day trading if you know how to do it. My experience says it will be profitable, but you don't have to be greedy to do it every day by forcing yourself to pick random assets to trade.
It doesn't have to be every day if you really want to profit from day trading, just take some time and learn about market fluctuations and how the market works for certain cryptocurrencies because there will be good opportunities to make a profit. 15% the profit is too high in my opinion in a day, you will rarely find it except on altcoins which have high market hype but of course the risk is big.
It doesn't have to be every day if you really want to profit from day trading, just take some time and learn about market fluctuations and how the market works for certain cryptocurrencies because there will be good opportunities to make a profit. 15% the profit is too high in my opinion in a day, you will rarely find it except on altcoins which have high market hype but of course the risk is big.
Day trading is one of the safest thing to do in cryptocurrency only if one is patient enough to do it. Come to think of it, if you have good knowledge of the charts and have your working strategies, remove greed and enter the market with a capital as high as $5000. It is very easy to make $50 to $100 daily. But the problem is that most traders are greedy. They will want to make 15% with small capital and go by x10 leverage. It doesn't work so, slow and steady is a sure bet. Even if you don't know how to trade, watch bitcoin and whenever it falls by up 8% or so, buy altcoins and set stop loss and take profit. Within some hours it will give you some profits otherwise it will stop loss.
As other users have said, you may be able to take advantage of day trading if you know how to do it. My experience says it will be profitable, but you don't have to be greedy to do it every day by forcing yourself to pick random assets to trade.
It doesn't have to be every day if you really want to profit from day trading, just take some time and learn about market fluctuations and how the market works for certain cryptocurrencies because there will be good opportunities to make a profit. 15% the profit is too high in my opinion in a day, you will rarely find it except on altcoins which have high market hype but of course the risk is big.
That greed part is a very good part but also you have to be quite hardworking as well. I know a few people who are making profits from day trading and I can guarantee you that it is a horrible thing when you are looking at the time.It doesn't have to be every day if you really want to profit from day trading, just take some time and learn about market fluctuations and how the market works for certain cryptocurrencies because there will be good opportunities to make a profit. 15% the profit is too high in my opinion in a day, you will rarely find it except on altcoins which have high market hype but of course the risk is big.
I know them and I know that they work 10+ years a day, meaning if they work a bit hard one week, it could reach 100 hours that week, meaning they only have like 1-2 hour per day left everyday outside of sleep and trading, and rarely even that much. So, if you are not willing to work that hard, then it doesn't make sense to work that hard, why would anyone work that hard at all. Find something you love, and you think if trading could be that, then it is not.
Daytrading could be profitable in crypto but it really depends on the kind of daytrading we are talking about. If you mean trading with derivatives, then you're almost definitely going to lose all your money. Without a doubt. And if you trade altcoin derivatives then the process is only going to be much faster because altcoins are usually low market cap and have high speculative volatility.
But if we are talking about spot daytrading, the best advice I can give you is not to trade below daily. You will grind through your coin with the trading fees.
This is mainly because of the fact that crypto day trading is not like other day trading in the world. Here it is very volatile and we are talking about liquidity not being available everywhere. Sure binance may have a lot, but not everywhere else does have it that way. Which is why I believe that we shouldn't really be worrying about the current situation, since liquidity is down everywhere.But if we are talking about spot daytrading, the best advice I can give you is not to trade below daily. You will grind through your coin with the trading fees.
This means that if you could find a place with low liquidity enough, you could take advantage of that while trading. You do not get anything like that anywhere else because it is centralized trading and even if you do it via a place that is used very little, it is still goes to the market with high liquidity.
I agree with what you're saying. The liquidity in most exchanges is going down and it is becoming very hard to sell/buy at a moments notice without making a huge loss. I had to stop trading on Poloniex for that exact reason. Nobody is buying or selling, the liquidity of Poloniex is becoming stagnant and I believe the exchange will drown soon if they do not save themselves from that problem.
An unexperienced trader might market buy at 5% higher than for example Binance market price. This is a huge problem and almost scammy in nature.
Avoid low liquidity exchanges if you day trade. That is definitely a good tip.
Daytrading could be profitable in crypto but it really depends on the kind of daytrading we are talking about. If you mean trading with derivatives, then you're almost definitely going to lose all your money. Without a doubt. And if you trade altcoin derivatives then the process is only going to be much faster because altcoins are usually low market cap and have high speculative volatility.
But if we are talking about spot daytrading, the best advice I can give you is not to trade below daily. You will grind through your coin with the trading fees.
This is mainly because of the fact that crypto day trading is not like other day trading in the world. Here it is very volatile and we are talking about liquidity not being available everywhere. Sure binance may have a lot, but not everywhere else does have it that way. Which is why I believe that we shouldn't really be worrying about the current situation, since liquidity is down everywhere.But if we are talking about spot daytrading, the best advice I can give you is not to trade below daily. You will grind through your coin with the trading fees.
This means that if you could find a place with low liquidity enough, you could take advantage of that while trading. You do not get anything like that anywhere else because it is centralized trading and even if you do it via a place that is used very little, it is still goes to the market with high liquidity.
I think we can, as long as we are good at analyzing and predicting cryptocurrencies. Of course analyzing is not an easy thing, because analyzing and predicting it requires serious learning, but of course there are many ways so that we can be smart in predicting and analyzing, of course we can learn online or offline. but sometimes crypto trading knowledge is obtained from experience, even very many people are smart in crypto trading because of their experience in crypto.
As other users have said, you may be able to take advantage of day trading if you know how to do it. My experience says it will be profitable, but you don't have to be greedy to do it every day by forcing yourself to pick random assets to trade.
It doesn't have to be every day if you really want to profit from day trading, just take some time and learn about market fluctuations and how the market works for certain cryptocurrencies because there will be good opportunities to make a profit. 15% the profit is too high in my opinion in a day, you will rarely find it except on altcoins which have high market hype but of course the risk is big.
It doesn't have to be every day if you really want to profit from day trading, just take some time and learn about market fluctuations and how the market works for certain cryptocurrencies because there will be good opportunities to make a profit. 15% the profit is too high in my opinion in a day, you will rarely find it except on altcoins which have high market hype but of course the risk is big.
I think day trading is very suitable during bullish market conditions because in such conditions the market is very active and the trading volume is very high, but if ywant to do it on altcoins then the altcoin must have high trading volume but be careful because can get stuck at high prices if do it in altcoins so that it ends up in the holder or sells at a loss
Yes, and we can't deny that many people will enter trading during that time for they are aware the situation that prices keep on growing and earning a profit isn't hard and it never takes so long. But if you dare to try it during the bear season, that is certainly a big test of your capability to control your emotions and patience, and sometimes we end up losing at the end of the day. This is the reason why many traders had just held instead of doing trading as a safe escaped. It's definitely hard, but all those small spikes allow people to make a good return and that matters, we shouldn't be really focusing on potential losses, many people lose, that's where you earn.
I know there's a lot of day traders in stocks, and I've heard some do it in crypto ( although most do it at a loss ) so I'm wondering if realistically you can do a profitable trade in crypto.
Let's take a real example.
In this mini rally we're having, I've noticed Illuvium is one of the few tokens that is in the red( less than 1% on the daily when this was posted )
1 ILV is $119 on my CEX... but the sell price is $116 and the buy price is $123
Doing a simple trade using USDC to buy one ILV token would cost me $10.40 in ETH Fees on EXODUS. If I was doing it from my CEX, it would probably be cheaper, but I'd end up paying just as much ( sometimes way more ) if I want to take my new ILV token and deposit it in a hardware wallet. So either way, even if I buy ILV and it makes me a 15% gain in less than 24 hours, I barely break even !
So how do I make a profit ? Do I need to buy 30 ILV to maximize my gains ? Or is there any other way ?
Let's take a real example.
In this mini rally we're having, I've noticed Illuvium is one of the few tokens that is in the red( less than 1% on the daily when this was posted )
1 ILV is $119 on my CEX... but the sell price is $116 and the buy price is $123
Doing a simple trade using USDC to buy one ILV token would cost me $10.40 in ETH Fees on EXODUS. If I was doing it from my CEX, it would probably be cheaper, but I'd end up paying just as much ( sometimes way more ) if I want to take my new ILV token and deposit it in a hardware wallet. So either way, even if I buy ILV and it makes me a 15% gain in less than 24 hours, I barely break even !
So how do I make a profit ? Do I need to buy 30 ILV to maximize my gains ? Or is there any other way ?
Daytrading could be profitable in crypto but it really depends on the kind of daytrading we are talking about. If you mean trading with derivatives, then you're almost definitely going to lose all your money. Without a doubt. And if you trade altcoin derivatives then the process is only going to be much faster because altcoins are usually low market cap and have high speculative volatility.
But if we are talking about spot daytrading, the best advice I can give you is not to trade below daily. You will grind through your coin with the trading fees.
Generally, that certainly matters to you OP as a trader. You can't just think it was profitable or not unless you have tried because if I say it was possible that can be different on your end. Let us say that I earn $1000 a day, not it means that you can also earn the same or even more. That is why if you have been trading now, I encourage you to do day trading (if not) just to know if this will work for you because I tell you that not all that has been in day trading succeed, some go back to spot trading.
Day trading is the most ideal mostly a long-term kind of trade because you will set the time frame into a higher time so you can wait for almost half a day or whole day with the signal if you are a busy person you can do it but also you have an option for a day trading. But for me, I do a lot of things to make myself ready to commit a trade so I can execute easily the task or position easily, trading will become profitable depends on the persons capability to trade and not just get pressure because they need to make a trade daily. Of course money must need to consider make a trade you afford to lose.
Both knowledge and money are necessary to make good profits from the markets, for example if two different persons both had the same knowledge and skill to trade the markets and both made the same trades and obtained on average 1% on profits with each one of their trades, but one trader had 500 dollars and the other 1 million the first trader would make 5 dollars per trade while the second trader will make 10k per trade which is a massive difference on their outcomes despite both of them having the same skills.
Have skill and knowledge but without have money for trading looks nothing because can't earn profit, exactly true what did you compare although have good skill and knowledge when tracking what kinds coin for trading but $500 fund for investing just earn small profit. Different with trader or investor have much money for investing and ability earn much profit, need knowledge and much money how to be success in cryptocurrency trading, without both of thing looks not easy for earn profit. 
Although trading seems a risky but still very profitable in trading.Day trading here is definitely risky.But you must make good decisions while trading and never trade with wrong decisions.Trading is like a complete gamble if you make a wrong decision it is very risky for you.And especially if you want to trade on the trading platform, you must be very experienced. If you are not experienced in trading, you will not be able to profit from trading Lose more.
Experience matter most when it comes to trading crypto, day trading isn't easy at all, it requires vast skills, full concentration and attention, avoidance of greediness and risk taking, crypto price movement is highly volatile, if the price goes in a wrong direction while trading without a Stop Loss it will definitely end in liquidation of the account recall during the days of massive dumping of the price a lot of traders account got liquidated due to the high volatility of the prices of cryptocurrencies, even trading with a Stop Loss requires a wide SL else price might hit it if the SL is small before heading to the intending direction. Jump to: