I would say that it takes more luck than skills to make huge profit from a day trade due to the volatility of the price. You can be watching the chart and seeing a high, but few seconds, an all time high turns out to be an all time low, but many people still take advantage of the price swing to make themselves a reasonable amount of money.
Everyone has his own point of view and that we all need to respect each other’s opinion but the thing is you can never ever rely on your luck entirely to do anything which you want to do and that you must work harder to polish your skills in a better way which can then help you in an effective earning. You just need to stay firm and that you need to keep learning new things. 
Topic: Day trade is more a lucky thing or skill - page 38. (Read 2938 times)
Day trading is all about Managing your risk, cutting your losses soon and letting profit trades run. I have been trading US stocks for years and worked at Prop Floor, Everyone gets their own style I been successful at trading opening gaps and it's my trading style, some traders trade at breakout and some do trade by looking at Prints(Tape reading). Day trading is not about Luck its all about risk management.
I May not be good at trading Cryptos Coz it's not my trading style I trade stocks with really tight spreads with High Volume, and again I meet a lot of traders who make money on spread betting.
I May not be good at trading Cryptos Coz it's not my trading style I trade stocks with really tight spreads with High Volume, and again I meet a lot of traders who make money on spread betting.
Getting good at technical analysis can be kind of tricky, but it isn't outside of the skills of most - and there are a lot of free resources.
A couple of good resources to get started:
Technical Analysis – https://www.investopedia.com/terms/t/technicalanalysis.asp
Dow Theory – https://www.investopedia.com/university/dowtheory/
Margin trading cryptocurrencies – https://www.investopedia.com/university/margin/
Beyond that, understand that news trumps analysis, so you've got to follow the news closely if you want to day trade.
Of course, this is a good place to follow the threads for the coins you are interested in, but you can also look at sites like this:
https://www.coindesk.com/
https://cointelegraph.com/
https://themerkle.com/
If you really want to go through individual tutorials they are available, too - although it is on his Patreon, most of CryptoBall's tutorials are free:
https://www.patreon.com/cryptoball
If you read through those you will have a great understanding of how to get started. Then you have to decide if you will do it manually or with bots...a separate (but worthwhile) discussion.
A couple of good resources to get started:
Technical Analysis – https://www.investopedia.com/terms/t/technicalanalysis.asp
Dow Theory – https://www.investopedia.com/university/dowtheory/
Margin trading cryptocurrencies – https://www.investopedia.com/university/margin/
Beyond that, understand that news trumps analysis, so you've got to follow the news closely if you want to day trade.
Of course, this is a good place to follow the threads for the coins you are interested in, but you can also look at sites like this:
https://www.coindesk.com/
https://cointelegraph.com/
https://themerkle.com/
If you really want to go through individual tutorials they are available, too - although it is on his Patreon, most of CryptoBall's tutorials are free:
https://www.patreon.com/cryptoball
If you read through those you will have a great understanding of how to get started. Then you have to decide if you will do it manually or with bots...a separate (but worthwhile) discussion.
Day trading is combining lucky and skill. Skill still needed and lucky too. Skill for entering market and making decision which position we need to take. And the rest is luck. If we are unlucky we will always wrong to take the decision. And if we have not any skill its mean we can not trade. We can not count the trading fee, lose and profit.
It’s not about luck that matters in trading but your behavior in analyzing the stock market. If you make a right move, nobody can stop you making money.
I think one needs technical skills and market knowledge for becoming a successful day trader. Yes, luck also matters in day trading but it’s not only a game of luck. I’ll suggest you to hold as it is a better option especially when you don’t have time to study the charts and graphs as you said. Without knowledge trading may give you huge losses.
I'm not sure if I have time to play with charts and trade a lot, like I have seen some youtubers doing.
They make you really believe that is more like a skill and if you are good at it, it works.
My friend told me that is just about how lucky you are, and not a skill.
So, should I stick with holding or playing day trade is a better option?
They make you really believe that is more like a skill and if you are good at it, it works.
My friend told me that is just about how lucky you are, and not a skill.
So, should I stick with holding or playing day trade is a better option?
Trading is a great option to make an investment. As we know that trading can give us many opportunities to make a profit. I already have a lot of experience and indeed indirectly that luck will also affect, maybe around 30 percent. But believe that data and graphics will determine what we get. Trading with focus and also good concentration will help us to achieve good results. Most likely trading is determined by our skill in predicting price movements.
In cryptocurrency trading, technical analysis often don't work, some time you have to be a bit lucky. It is more applicable as far as day trading is concerned. But there are other factors too, some time the market is more suitable for day trading and some time it is not. So, you have to keep that in mind too.
I'm not sure if I have time to play with charts and trade a lot, like I have seen some youtubers doing.
They make you really believe that is more like a skill and if you are good at it, it works.
My friend told me that is just about how lucky you are, and not a skill.
So, should I stick with holding or playing day trade is a better option?
Day trade is a kind of skill for me, this is not a lucky thing due to if to other traders this is just a lucky things no wonder in the end they will loss a lot of money. Day trade is too risky if you don't have any idea about in trading. They make you really believe that is more like a skill and if you are good at it, it works.
My friend told me that is just about how lucky you are, and not a skill.
So, should I stick with holding or playing day trade is a better option?
Day trading is more of both skills and luck. You need the skills and you also need the luck, both of them are important. It’s just like when they say that faith without work makes no sense. That’s the same thing with having the skills and luck. Sometimes the luck is right there, but it requires the skill to discover that luck where it is. If you don’t have skills it takes to be a trader, you will end up with missing lots of opportunities everyday. So both of them are important.
I'm not sure if I have time to play with charts and trade a lot, like I have seen some youtubers doing.
They make you really believe that is more like a skill and if you are good at it, it works.
My friend told me that is just about how lucky you are, and not a skill.
So, should I stick with holding or playing day trade is a better option?
They make you really believe that is more like a skill and if you are good at it, it works.
My friend told me that is just about how lucky you are, and not a skill.
So, should I stick with holding or playing day trade is a better option?
Its both Skill and Luckyness on your chosen pair to trade.
Trading by using technical analysis will increase your profitability however it is not always a winning trade. You must know when to exit a trade when the price action goes against you. If you are lucky and entered on a crypto that is about to get pumped then your profit percentage will insanely increase.
I'm not sure if I have time to play with charts and trade a lot, like I have seen some youtubers doing.
They make you really believe that is more like a skill and if you are good at it, it works.
My friend told me that is just about how lucky you are, and not a skill.
So, should I stick with holding or playing day trade is a better option?
For you to be able to commercial day by day, you need to have a lot of ivory to combine with information market to be able to trade safely. It can be seen that the market is fluctuating continuously and difficult to guess, so tomorrow is always the best choice at the present time, can see that today bitcoin prices are fluctuating continuously and hard to guess. They make you really believe that is more like a skill and if you are good at it, it works.
My friend told me that is just about how lucky you are, and not a skill.
So, should I stick with holding or playing day trade is a better option?
I'm not sure if I have time to play with charts and trade a lot, like I have seen some youtubers doing.
They make you really believe that is more like a skill and if you are good at it, it works.
My friend told me that is just about how lucky you are, and not a skill.
So, should I stick with holding or playing day trade is a better option?
There is no doubt that trading can be a matter of skill but you need to be incredibly good at it and that is a level that is not very easy to achieve, the rest of the persons do not have the skill, the knowledge and experience to became good traders and for them earning profits in the market is more a matter of luck that it is of skill. They make you really believe that is more like a skill and if you are good at it, it works.
My friend told me that is just about how lucky you are, and not a skill.
So, should I stick with holding or playing day trade is a better option?
Of course, a skill for day trade, you can't getting a lucky everyday man
you need a skill to do that and do not rely on luck when you trading in the crypto.
If you compare gambling and trading, then trading gives you the opportunity to earn more. And at the same time to control everything that happens. You do not need to talk about different strategies, because the only correct strategy is to buy cheaper, and sell more expensive. you need a skill to do that and do not rely on luck when you trading in the crypto.
Of course, a skill for day trade, you can't getting a lucky everyday man
you need a skill to do that and do not rely on luck when you trading in the crypto.
you need a skill to do that and do not rely on luck when you trading in the crypto.
Day trading is combining lucky and skill. Skill still needed and lucky too. Skill for entering market and making decision which position we need to take. And the rest is luck. If we are unlucky we will always wrong to take the decision. And if we have not any skill its mean we can not trade. We can not count the trading fee, lose and profit.
To do day trading you must need special skills even a normal trader can also can't handle that pressure, skills will take a major part in day trading. but luck is also important sometimes luckily you will make an unbelievable profit from some coins. only your luck can help you to make an everyday profit in day trading.
Day trading is combining lucky and skill. Skill still needed and lucky too. Skill for entering market and making decision which position we need to take. And the rest is luck. If we are unlucky we will always wrong to take the decision. And if we have not any skill its mean we can not trade. We can not count the trading fee, lose and profit.
You feel you have extraordinary skill and know the whole market deeply you can do day trade successfully.Some time luck works you invest and suddenly market go up but mainly skills needed which will help forever.
Timeanagement and timing includes in skills then we can really say that skills matters, when we know how to manage our coins and knew that it might be the time then we will be able to earn.
Both is needed. Without luckies you will have a bad days and it's not good for a businessman like traders.
Skill is more important because you must learning and trial error as your experiences. To get a lucky, i think we must praying to God before starting a business.
Skill is more important because you must learning and trial error as your experiences. To get a lucky, i think we must praying to God before starting a business.
You feel you have extraordinary skill and know the whole market deeply you can do day trade successfully.Some time luck works you invest and suddenly market go up but mainly skills needed which will help forever.
Timeanagement and timing includes in skills then we can really say that skills matters, when we know how to manage our coins and knew that it might be the time then we will be able to earn.
day trading requires skill and fortune, we have to really know when it's time we buy other than that also need our guidance so we do not fall into the deep hole and lose our money
Jump to: