Topic: Day trade is more a lucky thing or skill - page 9. (Read 2938 times)
Day trading comes with a good amount of risk and you must have the skill to be able to trade profitably. If you dont have the skills, you are bound to lose a lot of money.
Day trading is associated with high stress. You can quickly lose money if you do not answer for your actions, especially if the trader does not know what he is doing.
I've been trading for about 10 years and here is my input.
Trading will also have a luck factor into it, even if you are a seasoned trader.
Basically especially in Crypto. There are times when there could be a crazy stophunt/margin call hunt and due to bad luck your order can be liquidated by a penny or two and you are out of the trade. And then later on the trade ends up working.
Hence you are better off just trading the daily or the weekly charts. Since there are not that many cryptos which are liquid enough to trade on the weekly chart, you should try trading stocks and commodities like SP500 and oils.
If you look at the oil chart, you can see that trading off the weekly TA would of been very profitable. Basically shorting all the way from $100 a few years back to longing the bottom to where it is now.
This is how people become millionaires, not the people trading the 1M charts.
Trading will also have a luck factor into it, even if you are a seasoned trader.
Basically especially in Crypto. There are times when there could be a crazy stophunt/margin call hunt and due to bad luck your order can be liquidated by a penny or two and you are out of the trade. And then later on the trade ends up working.
Hence you are better off just trading the daily or the weekly charts. Since there are not that many cryptos which are liquid enough to trade on the weekly chart, you should try trading stocks and commodities like SP500 and oils.
If you look at the oil chart, you can see that trading off the weekly TA would of been very profitable. Basically shorting all the way from $100 a few years back to longing the bottom to where it is now.
This is how people become millionaires, not the people trading the 1M charts.
You have to have both things. Without skill, you can't go for a long time in day trading. And without good luck, you never can make profits from anything. The first thing, we don't know about our luck, that's why we are to focus on the skill and experience. Day trading is a really profitable way but you have to look carefully at the market chart, trending chart, any upcoming good news or bad and other information like this. Hope you get your answer. Good Luck
I think that in such situation you need to have both, without good luck even if you have a lot of experience and skill you cannot become succeeded. Although skill also play a vital role in becoming successful in trading, but having good skill you also need to have some good experience and skill in trading. 
i think day trade must have a lot of skill for TA analysis for setting target buy price and sell price
trading is something that can be analyzed, there is nothing for no reason, so no lucky in the trade
trade is not gabling
trading is something that can be analyzed, there is nothing for no reason, so no lucky in the trade
trade is not gabling
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 believe that day trading will be able to minimize the risk and be the best option at the present time. But to be successful you need to have a lot of skills and can not rely on the code Luckily. You must analyze the technique accurately, combined with market intelligence and always follow the bitcoin price to be able to have a perfect transaction plan and accuracy. 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 has to do with skills as everything you need as regards price action is represented on the charts. So, its more of a skill than luck
I also like to watch these youtubers. But know too, that they can not be sure, what will happen, but their chances are still better than yours. (if they are truly good)
Trade require skills so i think lucky is not realy use with it but still if you are not in good luck your always lose. But not all you lose is because your not lucky, sometimes its because you dont have a good skills thats why you lose.
Maybe a little bit both. Normaly you would have 50% to pick the right direction, but with proper knowledge, and skills, you may can increse it to 70 
You can't express it in %. It just doesn't work that way. Nothing is certain in trading.
Your luck can help you to beat others in stock markets particularly for short term. However, in long term scenario, your skills will always outpace your luck depended performance.
I think that this has to do with the combination of both skills and luck as you cannot depend on only one at a time. You need to be able to learn technical analysis very well as a day trader to be able to give at least 70% correct calls so as to stay profitable in this trade. Long term holding is better as it affords you the time to sell at an appropriate time.
I think day trading requires luck and skill, those who do it are the ones who dare to take risks because I know day trading needs big capital to get good profit
First, you can't always get lucky in any kind of work you do. Day trading requires a conscious effort to study the market and emotions and to take advantage of your findings. It is learned and it becomes a skill when you make consistent profits than loses. There is a little bit of luck but you can't get lucky always.
Tell in more detail about the goals that you pursue in the crypto currency market. Day trading is very difficult and if you do not know how to do it correctly, then choose a Hodl.
You have to have both things. Without skill, you can't go for a long time in day trading. And without good luck, you never can make profits from anything. The first thing, we don't know about our luck, that's why we are to focus on the skill and experience. Day trading is a really profitable way but you have to look carefully at the market chart, trending chart, any upcoming good news or bad and other information like this. Hope you get your answer. Good Luck
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 think that in order to be able to successfully trade you need to have a lot of skill, ability to analyze and synthesize accurate information, and you also need to have decisive spirit and mind to be able to lose. Be profitable and trades successfully. You can not rely on luck because you can see that the market is bearish in the long run and bitcoin prices will continue to fall sharply and altcoin pull down further. 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?
Like in forex usually it is a skill that helps you to earn money on a daily basis. In crypto currency i gues if you will start to analyze market, news, projects and etc you would be able to catch up with market and make gains everyday, but still as for me daily traiding depends a lot on a luck, rather than skill.
I do not think that it all is about "luck" it is more than knowledge more than anything, if you do not know how to trade, then how do you expect to make money? it makes no sense after all. Trading is only good for a few, and for the rest, i doubt it.
yes it does require some skill and knowledge because like what you said earlier , you cannot possibly trade and earn an income if you do not know how to do it but we should always keep in mind that trading or investing in cryptos will also require some luck because the price is verry unpredictable .
not only on cryptos but also onto some other form of investments that uses a fiat or local money , we also need a luck in order to earn a profit because there are a lot of factors that can affect the price of our investments .
I do not think that it all is about "luck" it is more than knowledge more than anything, if you do not know how to trade, then how do you expect to make money? it makes no sense after all. Trading is only good for a few, and for the rest, i doubt it.
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