Topic: Can Day Trading be profitable in Crypto ? - page 6. (Read 1250 times)
If you know how to trade, you can profit from day trading.But must trade on good coins and choose good exchange for trading.Let's say you trade with bitcoin, but bitcoin is going up and down from 500 to 1000 dollars if not every day.Here if you understand the signals about trading then you can profit in this place And if you don't have any knowledge about trading then trading why you can't profit even by long time trading.
Yes, day trading is profitable for those that understood the system very well in the community because very easy to make a good profits but very easy to reduce someone to zero level in the community. If you don't have knowledge about day trading don't try it because it will make you to see other people that is making it in day trading as if they have another thing they are using just that they have the experience. I will advise you to have more knowledge about day trading before going into it, because the price of the market can remain low through out the week or month which will not help you to make a good profits at the moment.
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.
Users who trade crypto losses or profits it is one of the nature of fairness and reality for the user himself, speaking realistically, Of course, in the world of trading, not only crypto, to trade in the real world, you must also have an understanding of the situation and the development of markets and goods, the same thing happens in crypto trading, the market, demand, analysis, charts, when to buy and sell is something that must be studied wisely, to make good $$$ value and overcome losses.But if it refers to the type of crypto Illuvium (ILV), for me ILV is not a coin to trade / day / hour, I think ILV tends to be more directed towards futures trading, it can be seen from the movement of 7days / 30days / 90days and 50 weeks of movement.
7 days ago, ILV traded on Binance for $99 and rose to $123/7days.
Since the crypto market is currently in the red and the ILV is trading at $110 on Binance, I think that in order to make a profit one should look at the market developments in the next day or two, maybe ILV can touch the level of $88-$50, maybe it can be sold again 7-15/30 days in the future, to get better results.
There are different clustered comments that are contained here.
Trading itself is not a gamble but a trader can do a gamble of his capital if he doesn't do the proper thing and if he realise his mistake while the trade is on, he can end the trade and take a smaller loss than losing everything but for gambling if the game has started, you wait for the outcome for lose or profit.
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.
Trading itself is not a gamble but a trader can do a gamble of his capital if he doesn't do the proper thing and if he realise his mistake while the trade is on, he can end the trade and take a smaller loss than losing everything but for gambling if the game has started, you wait for the outcome for lose or 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.
OP, you should concentrate on cryptos with high trading volumes and volatility if you want to be profitable in addition to learning the set skills for trading. A crypto with high trading volume, will present low commission charges on trades. So, you don't have to be experiencing the type of large gap you find as commission charges when you buy or sell like you do when you trade Illuvium. With its high price level, I believe $8,350,000 24hrs trading volume is way too low. Again, you don't have to keep withdrawing to a remote wallet if you want to live on day trading. Of course, there are legions of traders who live solely on trading. It's as lucrative as becoming a doctor or an engineer. Just have a handle on it and be patient. What kills most trading accounts is impatience.
In my opinion, both day trading and long-term investment can be profitable if:
- We understand the science
- We want to learn it
- We want to be consistent
- We have good tips for controlling our emotions because day trading will be very emotional, especially with market conditions that often change drastically very easily. That is why day trading may require more risks, moreover if we are new enough in day trading.
And most of the time those which are interested in trading the markets do not have any of those characteristics, they are interested only in making money and make it fast, and while that is necessary, otherwise they will not take the time to try to become traders, that is far from being enough, they need to actually be interested in the markets and their movements otherwise they are never going to invest the time necessary and their skills will never progress to the point they can become profitable. - We understand the science
- We want to learn it
- We want to be consistent
- We have good tips for controlling our emotions because day trading will be very emotional, especially with market conditions that often change drastically very easily. That is why day trading may require more risks, moreover if we are new enough in day trading.
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 ?
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 ?
At least choose a coin that have smaller spread and higher volume so your 15% gain can cover the spread and net good enough profit. If you want to day trade, learn how to do it properly. I believe it is profitable but it takes time to get a good grasp of it. And even then, you can still experience losses from time to time.
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In this cryptocurrency market, day trading at the end of the day is a big loss and very stressful, I particularly do not recommend that people day trade. sometimes a person can spend hours on the computer and only make a small profit but when a week goes by, the person looks back and sees that if he had bought and insured more days he would have 10X the profit he had doing day trading
In this cryptocurrency market, day trading at the end of the day is a big loss and very stressful, I particularly do not recommend that people day trade. sometimes a person can spend hours on the computer and only make a small profit but when a week goes by, the person looks back and sees that if he had bought and insured more days he would have 10X the profit he had doing day trading
It is not a loss of you are making profit from it. You can only call it a loss when you lose money not when you gain. However small your gains are, gains are gains. And day traders does not just make one trade a day. They make multiple trades and take advantage of how volatile crypto is. Those small gains can sum up to big gains if you do it constantly.
day trading is something that will bring you losses in the long run, I can give you a concrete example using day trading with bitcoin - USDT
imagine that today you buy bitcoin at the price of 23,050$ and then sell for 23,500$, but after you sell the price of bitcoin rises to 24,500$, you no longer have 1 BTC = 24,500, you will have 23,500$ and if that continues, it will arrive a time when you will have less bitcoin and consequently less daily profit. The solution is to buy when the price goes down a lot and sell when the price goes up a lot and this can take days, which means you have to trade with a chart of 1h, 4h or more hours so that you can read the price movement of a long term
In this cryptocurrency market, day trading at the end of the day is a big loss and very stressful, I particularly do not recommend that people day trade. sometimes a person can spend hours on the computer and only make a small profit but when a week goes by, the person looks back and sees that if he had bought and insured more days he would have 10X the profit he had doing day trading
imagine that today you buy bitcoin at the price of 23,050$ and then sell for 23,500$, but after you sell the price of bitcoin rises to 24,500$, you no longer have 1 BTC = 24,500, you will have 23,500$ and if that continues, it will arrive a time when you will have less bitcoin and consequently less daily profit. The solution is to buy when the price goes down a lot and sell when the price goes up a lot and this can take days, which means you have to trade with a chart of 1h, 4h or more hours so that you can read the price movement of a long term
In my opinion, both day trading and long-term investment can be profitable if:
- We understand the science
- We want to learn it
- We want to be consistent
- We have good tips for controlling our emotions because day trading will be very emotional, especially with market conditions that often change drastically very easily. That is why day trading may require more risks, moreover if we are new enough in day trading.
- We understand the science
- We want to learn it
- We want to be consistent
- We have good tips for controlling our emotions because day trading will be very emotional, especially with market conditions that often change drastically very easily. That is why day trading may require more risks, moreover if we are new enough in day trading.
In this cryptocurrency market, day trading at the end of the day is a big loss and very stressful, I particularly do not recommend that people day trade. sometimes a person can spend hours on the computer and only make a small profit but when a week goes by, the person looks back and sees that if he had bought and insured more days he would have 10X the profit he had doing day trading
In my opinion, both day trading and long-term investment can be profitable if:
- We understand the science
- We want to learn it
- We want to be consistent
- We have good tips for controlling our emotions because day trading will be very emotional, especially with market conditions that often change drastically very easily. That is why day trading may require more risks, moreover if we are new enough in day trading.
- We understand the science
- We want to learn it
- We want to be consistent
- We have good tips for controlling our emotions because day trading will be very emotional, especially with market conditions that often change drastically very easily. That is why day trading may require more risks, moreover if we are new enough in day trading.
Day trading is profitable, but the question is can you handle the stress? How much knowledge do you have in trading?
Simple trading strategy might not work in long term so better to work on learning how to trade effectively using a different indicators to know the trend. This is not just a simple buy and sell, successful day trader spend their time analyzing the price movement and a real trader will not come into the battle without any strategy.
A day trading is very dangerous and people do get lose in such kind of trading. I believe that people who is into trading vis aware of the risk involve in a day trading. A day trading have two options advantages and disadvantages aspect of it. The advantages aspect of it, is that it comes a time of day trading that any amount you trade with and you will make Profit and the profit come surplus and some times too the lost comes Mega.Simple trading strategy might not work in long term so better to work on learning how to trade effectively using a different indicators to know the trend. This is not just a simple buy and sell, successful day trader spend their time analyzing the price movement and a real trader will not come into the battle without any strategy.
Yes, its true that this is really something risky and not for everyone kind of trading on which you would really be needing that sufficient experience and skills before you could able to handle day trading.
Make yourself a little bit more better with swing trades or trend changing kind of trades before jumping into day trade.You can try yourself and if you do find out yourself that effective
then it wont really be a bad consideration on trying to make some switch up but of course this wont be simple as it looks.
Day trading is profitable, but the question is can you handle the stress? How much knowledge do you have in trading?
Simple trading strategy might not work in long term so better to work on learning how to trade effectively using a different indicators to know the trend. This is not just a simple buy and sell, successful day trader spend their time analyzing the price movement and a real trader will not come into the battle without any strategy.
A day trading is very dangerous and people do get lose in such kind of trading. I believe that people who is into trading vis aware of the risk involve in a day trading. A day trading have two options advantages and disadvantages aspect of it. The advantages aspect of it, is that it comes a time of day trading that any amount you trade with and you will make Profit and the profit come surplus and some times too the lost comes Mega. Simple trading strategy might not work in long term so better to work on learning how to trade effectively using a different indicators to know the trend. This is not just a simple buy and sell, successful day trader spend their time analyzing the price movement and a real trader will not come into the battle without any strategy.
Day trading is profitable but it will only suit those who are fully equipped with knowledge on how to do technical analysis. It requires skills for you to deal with the volatility of the market because you can't just apply the basics of trading here which is to buy low and sell high but rather you have to deal with the movement of the market and analyze it. You should also have enough time to focus on it so you should be well dedicated.
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Day trading can give you profit but it depends on how good you analyze market movements. In addition, the coin selection factor will also affect our analysis because if we only use one coin to trade such as choosing bitcoin, it will not confuse us in trading. We only need to analyze how bitcoin moves from every minute, 15 minutes, 30 minutes, 45 minutes or 1 hour or more and we can see where the price will move. But if it trades more than one coin, then the time we need to analyze will be longer and we may be late in deciding.
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.
Day trading is profitable depending on the strategy that your using in order to navigate the volatile market, and can equally be stressful unlike swing trading. Using like 15Mns -1 HR time frame is good if you prefer going into day trading while the Bigger time will be for direction. The most profitable way of trading is swing trading with that way you don't need to keep your eyes on the market looking for possible set ups and opportunity to take a trade , this where the biggest money is made and less stressful. So to profit from day trading you really need good strategy.
Day trading is very convenient to make profit if you get the right entering position and this is one thing that make traders lose, wrong entry. If you enter market at the wrong time, you are certainly going to lose especially if you use a stop loss, the price will hit it before reverting to your position. I think day trading requires alot of care and accuracy to get better position for maximum profit.
By day trading you can make 10-50$ daily profit using minimum $500. If able to take right entry at right time. I love day trading. But I always use altcoins for this. Altcoins price go up and down constantly. So day trading with altcoins is profitable. But if you think about bitcoin or Ethereum then you must have to hold them. Btc & eth is not for day trading.
However, it comes back to adjusting to each person's ability to trade,
because not everyone can trade futures so think carefully first and that's important,
the risk of losing money will always be there so we must be prepared for that
Everyone who trades knows the risks. It's not just losses to crypto trading. even we can lose all our money. especially in futures trading.because not everyone can trade futures so think carefully first and that's important,
the risk of losing money will always be there so we must be prepared for that
for those who have mastered futures trading, looking for daily profits is very possible. even get 15-20%.
but it looks like the OP is still a beginner at crypto trading. which is indeed a different market on spot trading. even though trading on the spot, I think for day trading when we can choose the right asset we can get daily profits which we can lock in profits to accumulate in long-term investments.
Let's just take it this way. Day trading is profitable if you're good at it and manage to have those decisions right if you're into spot trading. Also in futures, there are people making money there but it's not easy because they've studied very well on it and invested money just to lose in return for the lesson that they'll get. But setting aside those stories, the majority are losing more money in trading and that's the reality that has to be recognized by many.
futures trade maybe only suitable for those have good result in spot trading , they could analize market well and also manage their emotion and psychology. maybe for some traders, future could growth their balance massively due its potency in each trades that could earn more than 100% only in short term, but for some traders it could easily make their money lost and even liquidated by margin call.They're blinded by the leverage that others are setting and doing and think that they can just easily do it without anything to worry about. That's how the newbies today, they won't mind the risk they're taking at first tries but eventually will realize that they are doing it wrong.
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 ?
There's basically no point of day trading when you say that the fees would cost you around 9% of the trade.
The volatility of cryptocurrencies is good for day trading but you will have to move to another platform like binance.
So that you don't have to pay such a huge fees. You can target for 3% to 5% gains where the fees is around 0.2% on binance.
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