Day trade is more a lucky thing or skill - page 40.

TheUltraElite

legendary

Activity: 2898

Merit: 1253

So anyway, I applied as a merit source :)

Quote from: ICOboomer on April 24, 2018, 04:04:12 AM

I only buy or sell when all signal is ready and setting stoplot and take profit

That may be a good option for both day trading and long term trading. Cashing out profits is as important as getting into the market during the dip.

Quote from: manismanja on April 24, 2018, 04:57:11 AM

actually daily trading in my opinion too have a very high risk because if you apply daily trading you should be able to read the situation and condition of the existing graph so you can know what coin is suitable for the buy.

You have no idea what day trading is. It is the buying and selling of coins during every small dump and pump respectively and cashing that out. Of course people have their own methods to do this. But it is cumbersome and very demanding. Now many people do it and its profitable as well for those who can.

Still looking at the graph and then making decisions - thats basic in trading.

el kaka22

legendary

Activity: 3654

Merit: 1165

www.Crypto.Games: Multiple coins, multiple games

Quote from: vandako on April 18, 2018, 01:34:12 PM

With crypto, it does not need much skills and experience. You can easily make 5-10% in a day if you pick the right coins.

Well, even if you pick the right coins, doing things wrong will always affect you at the end of the day. It is not about picking the right coin; it is by knowing what to do exactly, considering the nature of the market and if you cannot do it right, you will always end up losing eventually. Trading needs huge level of knowledge, either day trading, short term or long term, and as long as that is not there, such a person will only end up more like a gambler.

Quote from: n0ne on April 24, 2018, 05:20:18 AM

I believe day trading needs both luck as well skills to make good earning.

I guess that you have confirmed day trading is nothing but gambling. When you are considering luck is the deciding factor then I am sure you are considering day trading as a modified version of gambling.

Quote from: n0ne on April 24, 2018, 05:20:18 AM

Skills make the user predict the market variations, but luck decides how much to be earned.

Due to high volatile nature of market within a day, most traders do fail to predict the end points of trends. That is the reason they do wait more or they do book profits so earlier. In both the case, I must agree our luck is the deciding factor which may be playing similar role of what it will do while we are gambling.

ckcharlie

newbie

Activity: 89

Merit: 0

I'd be very wary of a youtuber telling you how to day trade and make lots of profit. The cyrpto market does not follow the same charts and rules as the stockmarket. It can be influenced too easily by big players with their own agenda. I agree with some of the posts here that there is skill needed and would apply more to BTC market than the altcoins. The higher the volume the more the market will behave (this is why stocks/shares follow chart theory better)
I'd be scared of losing it all as a day trader in crypto. maybe give it a try with a smaller percentage of your holdings first and see how you go.

Hemady17

member

Activity: 505

Merit: 35

Quote from: brawdias on April 18, 2018, 01:17:12 PM

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?

I don’t agree with your friend regarding day trading is all about being lucky. People who believe in this are only bitter when their trade turns to sour and they will make a scapegoat of being unlucky to their trade but in reality they are lacking in skills and experience.

Instead of believing to this theory, I would suggest that trade at your own risk. Never engage in things that you are not aware off. Study hard and take risk if necessary, there are no perfect trade only good trades.

n0ne

hero member

Activity: 2618

Merit: 548

SecureShift.io | Crypto-Exchange

I believe day trading needs both luck as well skills to make good earning. There are people who invested their hard earnings into low valued altcoins and profited big in a short time. Similarly there are users who has lost big through trading because of bad luck. Skills make the user predict the market variations, but luck decides how much to be earned.

manismanja

member

Activity: 518

Merit: 11

Quote from: brawdias on April 18, 2018, 01:17:12 PM

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?

actually daily trading in my opinion too have a very high risk because if you apply daily trading you should be able to read the situation and condition of the existing graph so you can know what coin is suitable for the buy.

kabirhusen

jr. member

Activity: 30

Merit: 2

when bitcoin price are stable i mean not huge pump and dump,This time is good for regular trade with usd/btc pair but when the price dumping high or pumping high this time is too much risky.you may loss a huge money or you may get a lot of money/profit at a time.

ICOboomer

jr. member

Activity: 128

Merit: 1

I only buy or sell when all signal is ready and setting stoplot and take profit

wuvdoll

legendary

Activity: 1442

Merit: 1025

Quote from: brawdias on April 18, 2018, 01:17:12 PM

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?

If you do not have any skill at all, you will be better off not trying it. Yes, you will have to deal with luck once in a while since the market is extremely volatile, but at the same time, you will also have to consider the option of knowing what you are doing and without that, you are going to be losing badly.

There are tools available for daytraders to do their activities in most effective manner but it comes with a lot of dedication and gradual building of experience after learning how to stay safe doing it. In the process of trading and profiting, most people do miss securing their capital and then finding themselves unable to shone in trading. First we must secure our capital then we will get chances to make big profits.

boris singer

sr. member

Activity: 882

Merit: 268

a very complex analysis will produce a systematic mathematics, it includes about 20% of the luck in it because we also see the global volume reaction and we can not determine it ourselves, but it is not an important part because all can be detected thoroughly by personal calculations, day trade more strong against complex analysis, so the mind of a trader is not dominant in abstract luck patterns and random selections.

Apened

hero member

Activity: 1386

Merit: 504

Quote from: no0dlepunk on April 24, 2018, 01:45:05 AM

Quote from: brawdias on April 18, 2018, 01:17:12 PM

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?

I don't agree that it could have been about luck... I have a gunbot and it uses mathematical and analytical algos to execute trades. It also watches the market 24/7 that's why he has the most perfect buy and sell timing... Piece of advice, if you can't be as dedicated as gunbot - then you better HODL long term, buy on dips and sell on hype... good luck.

Somehow, sometimes it was gained by luck but without adequate knowledge that luck is a worst. If you are using a bot to trade the skills you are talking about or in this topic is on the bot who manages to trade for you and not on your own. I have a cousin who use bots to trade and it is good as i observe because he lose minimal amounts and goes the same in making profit it doesn't adjust the sell price or exit point.

no0dlepunk

sr. member

Activity: 490

Merit: 258

Quote from: brawdias on April 18, 2018, 01:17:12 PM

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?

I don't agree that it could have been about luck... I have a gunbot and it uses mathematical and analytical algos to execute trades. It also watches the market 24/7 that's why he has the most perfect buy and sell timing... Piece of advice, if you can't be as dedicated as gunbot - then you better HODL long term, buy on dips and sell on hype... good luck.

lixer

hero member

Activity: 2562

Merit: 586

Quote from: LodisMcguire on April 22, 2018, 03:51:08 AM

Mostly is because of the skill to read chart and handle the news regarding the cryptomarket.As a daytrader,you must keep open your eyes to see where is the flow going.Luck is the part when you can gain profit before a big crash that no one can predict to happen.

Well, I don’t believe in this luck thing especially in trading. Either it is day trade or the long term holding, both are just luck free. This element doesn’t exist here rather it is only for the gambling. This doesn’t mean luck doesn’t matter here, it matters but so little that considered to be negligible. Because it is all about skill and efforts that you are making for catering better profit ratios.

ufaiz50

hero member

Activity: 1666

Merit: 502

Both, so if you are skilled but unlucky then you will lose because the market cryptocurrency is volatile, and if you just rely on your luck would be a loss because I think luck does not often come to you, this is my personal opinion on day trading we prefer skills and expect good luck.

Sadlife

sr. member

Activity: 1400

Merit: 269

Unfortunately there's no such thing as luck. There is only a good and bad decision. The decision to buy when the price is high without knowing it will go bearish or selling when the price is low panicking and let his emotions get a better of his decisions. Then when he loses money blames luck. I think trading is only pure skills, that skill to be able to read price chart, candle sticks and be updated with the news.

karungbitcoin

full member

Activity: 588

Merit: 100

If you have more skill and good psychology in trading so you can make prediction by 70% accurate and 30% does not. Day trading need not only understanding about technical analysis but also good psychology and enough patient. If you dont have it all, for the better doing swing trading that need less times and no need to spend much times in the front of the chart, just check the price action 10 to 20 minutes aday.

morrisby25

member

Activity: 238

Merit: 10

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.

naidray

legendary

Activity: 1232

Merit: 1029

Quote from: aoluain on April 18, 2018, 01:28:58 PM

My opinion on day trading is that you need to dedicate the day to it
you need to watch the markets and keep up to date with news and
the trends and reactions to the news articles. The markets are volatile
so you need to be able to react to movements as they happen.

Dedication is even an attribute you surely need to have if anyone is thinking of daytrading at all. However, luck is not the only thing one would need as this is not gambling. It is something that can be done well, and you will always require skills and knowledge to be able to day trade the market and get the best of it.

A lot of people imagine is luck and they always end up losing so much. Daytrading need some quick level of thinking and making decisions which is why a lot of noobs get emotional easily.

Vanester2014

member

Activity: 236

Merit: 10

Borderless for People, Frictionless for Banks

I think both of them good luck and good skills in trading because there are some time that even you a very good skilled trader and you already do this for how many years but if your not lucky enough in trading your just alwasy lose but even you dont have a good skills in trading if your in good luck you always win.

Visbay

sr. member

Activity: 1236

Merit: 252

Quote from: cheezcarls on April 22, 2018, 09:17:02 AM

Quote from: brawdias on April 18, 2018, 01:17:12 PM

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?

I would say that both skills and luck if you want to become successful in day trading. During the time that I have started day trading for the first time, I was a bit scared if I am gonna lose. However, I just adopted Warren Buffett’s “buy low, sell high” strategy in which I did won the trade in short. It was fun at the first, but I cannot afford to lose after that.

You are brave enough as you have started your journey for trading as day trader. It is for sure really good strategy to sell high and buy low as it gives us profit and within time our income get wider, as you were a day trader so I think you have good experience so try to use this time long time trading and I am sure you will earn higher than day trading, your earning strength and your confidence shows you have good skills and your have good knowledge about trading, so good luck for the future.

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