Can you make money day trading Bitcoin? - page 2.

blockman

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Quote from: Sihab76 on December 17, 2021, 06:16:14 PM

Your opinion is correct because the bitcoin market is always volatile. No one in the bitcoin market can say for sure what the future holds. However, before investing and trading Bitcoin, you must have previous experience.

Even you don't have, a newbie cannot gain an experience if he's not going to get in and get an experience. So if it's a requirement for one to invest bitcoin and start trading to have an experience, then, all of us shouldn't be here if we don't have that in the first place.
Well, anyone can trade and invest regardless of the experience but there's the advantage that he gets when he has it. But, he'll only get it through his own involvement in the market.

LUCKMCFLY

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Quote from: TheGreatPython on December 17, 2021, 05:33:36 PM

Quote from: LUCKMCFLY on December 17, 2021, 01:22:00 PM

although the truth is that I do not have much skill operating in such a short trading time, I usually do is trading in the medium and long term, because in the long term you can react to the market, well sometimes you can, when the The market hardly crashes, but for now this type of operation is difficult for me, that is why I have been learning more about technical analysis, I know that short-term technical analysis or scalping, the indicators are pure gold, and although I am guided By Wyckoff's theory I make small intervals following the theory, the bad thing is that to see the profitability you have to risk a lot of money.

That is exactly why I am not a day trader as well, it just feels like too much work and reacting as quickly as possible to every single move and I do not have that much time. My work and my life situation right now requires me 24 hours a day, I sleep 4 hours a day everyday just to take care of someone in my life and also work at the same time, it has been a very tiring situation but it has been only 2.5 months or so, I am hopeful that life will get better. In this situation how could I also keep on trading?

There are plenty of people who do not have time like me, and they couldn't trade because it would require them to give up something else and instead use those hours to trade. This is why long term is a lot better, you just buy it, and whenever you have some more money, you end up buying a bit more and that is how you handle things, it doesn't require that much money at all.

Well, first of all, I hope that the person you take care of gets better soon and has more lucidity, and really 4 hours to sleep seems very little to me, try to take vitamins because the wear and tear you have is devastating and if you get sick you will not be able to help that person so dear, for me it is also difficult, because I prefer to buy coins that are safe, it does not matter that right now the price of BTC drops, my options are always BTC, BNB, Matic, Solana, Dot and Uni, I chose them because they are currencies They do not disappoint, anytime the BTC rises those coins give good profits, and since they are in the long term, I think that the case of Matic can go up a lot if the metaverses by the Polygon network are successful for 2022.

I hope you can find a way to get more sleep ...

Sihab76

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Quote from: Mohsin420 on December 16, 2021, 11:43:37 AM

Yes it's not difficult to make money in Bitcoin day trading but now bitcoin price is very up so too much risky a sudden dump happened any time so then we face a loos so I recommend before any trades must do Some TA about market

Your opinion is correct because the bitcoin market is always volatile. No one in the bitcoin market can say for sure what the future holds. However, before investing and trading Bitcoin, you must have previous experience.

kawetsriyanto

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Normally, we can earn money from the day trading of Bitcoin and also other cryptocurrencies. Why not? that is how a day trader works to earn money so far.
but you know, a day trader will also have their own high risks that will be always following. Most day traders will trade Bitcoin in the Future market or with margin or leverage, with SL/CL. they are commonly not beginners, they are more skillful, professionals, and also experienced day traders. For me, I am not a day trader so that I quite rare to do day trading Bitcoin to earn money. Just a kind of short-term trading.
But there is no offense that we can earn money from the day trading of Bitcoin and altcoins. Just define what we are going to apply here. There is always a choice based on our own skill right now.

TheGreatPython

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Quote from: LUCKMCFLY on December 17, 2021, 01:22:00 PM

although the truth is that I do not have much skill operating in such a short trading time, I usually do is trading in the medium and long term, because in the long term you can react to the market, well sometimes you can, when the The market hardly crashes, but for now this type of operation is difficult for me, that is why I have been learning more about technical analysis, I know that short-term technical analysis or scalping, the indicators are pure gold, and although I am guided By Wyckoff's theory I make small intervals following the theory, the bad thing is that to see the profitability you have to risk a lot of money.

That is exactly why I am not a day trader as well, it just feels like too much work and reacting as quickly as possible to every single move and I do not have that much time. My work and my life situation right now requires me 24 hours a day, I sleep 4 hours a day everyday just to take care of someone in my life and also work at the same time, it has been a very tiring situation but it has been only 2.5 months or so, I am hopeful that life will get better. In this situation how could I also keep on trading?

There are plenty of people who do not have time like me, and they couldn't trade because it would require them to give up something else and instead use those hours to trade. This is why long term is a lot better, you just buy it, and whenever you have some more money, you end up buying a bit more and that is how you handle things, it doesn't require that much money at all.

LUCKMCFLY

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Quote from: EdenHazard on December 06, 2021, 10:56:47 AM

Quote from: GeorgeJohn on December 06, 2021, 09:10:01 AM

( CAN YOU MAKE MONEY DAY TRADING BITCOIN) So, this is a typical question that deserved an answer from the superior once, but you are busy elaborating it, so what is the essence of the questions, since you know it.

You made my day george lol

Quote from: LUCKMCFLY on December 03, 2021, 01:12:25 PM

I have a friend who only operates with BTC, and most of the time he takes exchanges like Bitmex to do it, taking into account that arbitrage in Bitmex is quite tolerant on many occasions, when you have information about the liquidity pool it is possible to do small scalping that They can make a profit, by reviewing the BTC chart you can make short-term predictions where you can earn a lot of money, at least that is what he does, the trick for him is to put a lot of money in each operation, because if it is done With little money it is difficult to see the profits, even so it represents a great challenge for me and to have a lot of knowledge to get to do something like that. The only BTC trading I do is buy fractions of BTC and wait for it to go up, which usually happens almost always.

Arbitrage daytrade .. that's indeed required huge capital , the margin most of the times are tiny and you need to do it all superquick.
tbh the only job that a trader needed is by minimize the risk through strategies .. as you might get 100% profit today but then 50% loss in the next 3 days and so on. minimize it and you are good to go to have steady profit monthly.

Yes, you are right, although the truth is that I do not have much skill operating in such a short trading time, I usually do is trading in the medium and long term, because in the long term you can react to the market, well sometimes you can, when the The market hardly crashes, but for now this type of operation is difficult for me, that is why I have been learning more about technical analysis, I know that short-term technical analysis or scalping, the indicators are pure gold, and although I am guided By Wyckoff's theory I make small intervals following the theory, the bad thing is that to see the profitability you have to risk a lot of money.

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Quote from: adeyemirichard71 on September 08, 2021, 09:46:08 AM

Another thing that may help you minimize your losses is to set a goal. Once you’ve done your research and have some basic knowledge of how the markets work, it’s important to set a goal for each of your trades. Let’s say you see something you want to invest in, at what point, both positively and negatively, will you start selling? Setting a goal can protect you from the mental stress that fear and greed usually bring.

Yeah, moreover funniest part about all these is that some of these coins would come out and increase over thousands of percentage in value, but when they go down, they are down for good and wouldn’t be increasing in value anymore. Seriously this can be annoying when you invest in a coin like this, a coin that comes out and at first is looking like the future is bright for this coin, but all of a sudden it will just go down and just end up like that without even a chance again at increasing at all.

This is the reason why a lot of people hardly consider altcoins when they are investing money in in the market. Most of them would only go for Bitcoin, and if they’re even going to consider any alternative cryptocurrency at all, it is just going to be those ones that are like the Top 10 and top 20s in the market.

Mohsin420

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Yes it's not difficult to make money in Bitcoin day trading but now bitcoin price is very up so too much risky a sudden dump happened any time so then we face a loos so I recommend before any trades must do Some TA about market

intheinvest21

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Bitcoin has been very influential in the economy. So many resources to learn about this currency it's crazy!! For those interested in Bitcoin check out the link below for more insight to learn about Bitcoin and what it can do for you!!! https://www.digistore24.com/redir/372937/LifeNew2022/

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Quote from: kingangel on December 14, 2021, 12:51:35 PM

Day trading with bitcoin isn't profitable for me in my personal opinion, because it didn't make so much hype unlike other crypto such new projects because the way they pump in just a minute you can obtain 5x or more.. But when it comes bitcoin probably 5% or 10% is higher enough for day trade.not the same with new projects or let say alts 100% is possible based on my experience as well. So it's only good for long term i guess,

Maybe you say that because your trading capital is not large, in my opinion if we have a large capital to produce a profit of 2%-3% a day
it is very profitable. Moreover, Bitcoin is a safe asset when compared to new projects with very high risk. We choose the wrong new projects
or sell new projects too late, the risk is that we can lose all the capital we have. The final decision is up to us, whether to choose Bitcoin or
new projects, because if indeed we are experienced and can do the analysis correctly. Trying to invest in new projects does nothing wrong to try,
but if we want to be safe I suggest it is better to choose Bitcoin for trading.

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Quote from: kingangel on December 14, 2021, 12:51:35 PM

Day trading with bitcoin isn't profitable for me in my personal opinion, because it didn't make so much hype unlike other crypto such new projects because the way they pump in just a minute you can obtain 5x or more.. But when it comes bitcoin probably 5% or 10% is higher enough for day trade.not the same with new projects or let say alts 100% is possible based on my experience as well. So it's only good for long term i guess,

Well if you can get 1% every day with decent capital, its not that bad tho. Imagine you're doing a trading routine every day and get a 1% return and in a month you can get 30% in return. Some alts maybe can give you 100% return in a day but the liquidity is not that big except you're only put a little money. There's a lot of new project that gives you a pledge for long term but keep in mind that you can lose your funds in long term and in short term.

kingangel

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Day trading with bitcoin isn't profitable for me in my personal opinion, because it didn't make so much hype unlike other crypto such new projects because the way they pump in just a minute you can obtain 5x or more.. But when it comes bitcoin probably 5% or 10% is higher enough for day trade.not the same with new projects or let say alts 100% is possible based on my experience as well. So it's only good for long term i guess,

Alisha FR

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Yes, I can make money trading. Of course in trading knowledge is the most important thing for us to have. In doing analysis, all based on knowledge, not instinct. In some situations the market may not be in our favor. but it is a natural thing, as you said even successful traders have experienced failure.

LUCKMCFLY

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The way to benefit well from trading in Bitcoin or cryptocurrencies is simple, because if we take BTC into account, its market is very wide, if we have an idea of what market speculator means, it is one who is not carried away by feelings, Rather, he sees everything through numbers, gains and losses, and he is the one who goes along the line of least resistance, as a great market speculator like Jesse Livermore did at the time, which explains in his books that the good speculator of the market if the stock goes up, it is won, if the share goes down it is also won, no matter the direction of the market, up or down the good trader must win, and I think that in the BTC market this totally applies.

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Many people have a steady income from trading, but that's for those who have the expertise to trade. For people who are just learning to trade, of course, they will find it difficult after living it, and that is a natural thing because to become a person who has skills, of course, it takes time and a process, and of course goes through many obstacles in the process.

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It is possible to make money by trading cryptocurrencies during the day, but the way is more difficult.
Having analytical skills will make it easier to profit from daily transactions. When the market changes, it requires a lot of time and knowledge to analyze the best time to buy and sell to profit.

VanityWallets2015

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That’s right, Bitcoin good for long-term investments and is the most establish coin there is in the market. Although in making long-term investment, patience will be surely tested out. And while bitcoin day trading can be profitable, for instance the concept mentioned above, it would depend on the skills and how good a trader is. On top of that, since movement is not guaranteed especially in real time, then great risk associated.

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There are two fundamental strategies to use to break down and assess cryptographic money. The procedures have existed for ages and have effectively been executed for conventional monetary resources. These are the Fundamental Analysis (FA) and Technical Analysis (TA). Regularly they are utilized correlative to one another yet it is feasible to apply either freely.

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Quote from: Jazzi Mahesh on December 09, 2021, 03:41:34 PM

Many people want to take advantage of Bitcoin's many opportunities. You may be confused, if you understand it once, then you can successfully get a considerable extra income from it. If you are considering using Bitcoin, then this will help you make money a lot.

It will make you money but refrain as if talking that there's an instant success with it in front of newbies.
There's something wrong with that explanation that makes the newbies too hopeful and gives them beyond optimistic belief on it in the short term.
Bitcoin is good as a long term investment but when it's to short term, you should be good as a day trader.

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Quote from: suryogandul on December 09, 2021, 08:20:14 AM

Bitcoin trading can make daily money if you use the daily concept.
but need to set a target for example 5% per day of capital it is very good if it can run consistently. I think it will make a special profit because every day we can see the profit we get instead of waiting for weekly trading concepts or monthly trading concepts and it's too long.

That's right, we know bitcoin is very fast in trading movements and it is worth having the courage to make day trades. but it does need a good analysis because the current movement is difficult to predict even though there seems to be a deep correction to bitcoin, but bitcoin is also able to move up quickly and as quickly as it can go down. If you analyze it well it is clear that day trading is very profitable. but if you don't want to be at risk, bitcoin is always profitable, just make it a long-term investment and you will get the maximum value in time.

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