Topic: Day trading - page 3. (Read 1231 times)

Without a doubt a great deal of newbies will not learn any other way than to experiment those losses on their own, however while such a strategy is fine to be implemented when it comes to almost another topic at the same time such a strategy is incredibly costly in this market, which allow us to explain why so many newbies lose all their capital and they finally understand they need to study the markets to get some profits but by the time they make this realization their losses are massive already.

Trading is difficult, and not only for beginners, as even experienced traders can lose money. But without mistakes, you won’t be able to gain experience, so beginners should go this way. The main idea here is to first learn trading in theory in order to understand the basic principles and only then start trading. This should save a lot of time and money, which will not be lost if a beginner starts trading right away without any knowledge of it.

Agree on that, but I guess the OP seems to emphasize greed for day trading. Many people can make profits on day trading, while others also lose money. Nothing is always profitable, but if it's about losing all the money in the long term then I think something is wrong with the strategy.

Of course, skill and strategy will affect the outcome. Indeed, no one can always make a profit, but at least with skills and strategies they will not trade blindly without analysis.

I can agree to the "losing all your money" part but I will quickly add that it's not only in day trading that happens. It can also happen when you hodl or trade long term. What is key in trading is the skills (I keep going back to this). If one gets the skill set right for trading, it doesn't matter anymore whether one would be trading on daily or swinging.

Not getting out of your system and method is a hard thing for newbies, not so much for veterans. There are too many people who see how you should become an investor and can get rich, and instead of following this route, they end up with doing even worse, because they end up changing their method right in the middle when things are going bad.

Most common example is, there are some people who saw it go from 68k to 40k, and bought bitcoin because it dropped, then it dropped another 50% on top of that, and they sold, that’s a mistake. You should have bought more, and waited long term to make a profit, this is known and if you changed your mind, you made a mistake.

Well, it depends because some day traders are able to earn decent amount when they trade. If you're knowledgeable of what you're doing, has experience, can come up with an effective strategy and able to take advantage the market regardless of its situation then trying to be a day trader can be suited for you because you'll never know unless you try. There's no limit if you really want to learn hence if this kind of trading didn't work for you, it doesnt mean it will not work for other traders too because it depends on our skills.

Basically, skills must be needed in daily trading not only for a professional but they can prevent a very large risk because they have set management in trading and of course a beginner and a professional will be different in acting so this will not be the same even though following some suggestions and the material he was given.
I think trading is not just luck, but they analyze with very precise timing, meaning that every time you enter or sell you will know the time that has been set, even though only a few percent are made in that profit, so skills are very important for professionals and beginners.

as long as we can be disciplined in managing our trades then even day trading can still generate profits and keep losses minimal. the important thing is that we have made a target percentage in profit and loss. so with that we have locked the stoploss target and takeprofit target. and we must obey and be disciplined with the plans/management that have been made. I see many people lose a lot from day trading is because they are wrong in implementing the trading strategy. maybe they are used to long and medium term trading and they apply that strategy instead in day trading. then it is very clear that it will only bring losses and even confuse the trader's mentality. Each type of trade has a different type of strategy. so we need to know exactly what kind of trade we are going to do. such a DCA strategy would be well suited for the long and medium term. but the DCA Strategy is not very suitable to be used as a strategy in day trading. because in daily trading we don't care about bullish and bearish conditions. because we trade quickly and maximum have to enter and exit in one day. so this is where we need to set what percentage of profits to be obtained and what percentage of losses that can be borne. and a person who is used to long term investing will be a newbie again if he starts out as a day trader. because they will be very unfamiliar with the fast movements that have to be taken advantage of. because day trading is the most emotionally and mentally draining trade.

Realization comes after a bad experience like losing their capital for being greedy and incapable. That is why I let these newbies believe what they think about trading, doing shortcuts, and joining signal groups...because in this way they will see the difference between having full knowledge in trading versus when we are jumping on trading with empty knowledge just because someone pretending to help them. Could be unfortunate but still, a lot of newbies are doing this.

Newbies are always trying to find shortcuts believing they will find a way to earn money without acquiring any knowledge about the markets, and they could not be more wrong about this, there are no shortcuts, trading is a very difficult subject and if they are not willing to learn then they need to say away from it, but they refuse to do so because of their greed, and that is when disaster strikes them, since it does not matter what they may try it is almost impossible to earn any money when they are completely ignorant about how the markets really work.

If the knowledge is not enough to engage in trading, then you should not even start, because it will always end in a loss of money. If you listen to someone's advice, or use some kind of forecast, it will lead to the same result. Therefore, if you still want to trade, then you need to completely rely only on yourself. It will be difficult at first, but only in this way will you be able to understand this matter thoroughly and determine working strategies for yourself.

Even though there are true and profitable experts, I don't think it will be easy for them to tell and teach them because I believe these experts will not fully teach them as they are also struggling to find ways to be profitable. And to be honest, I don't really trust the experts if we look at the current market situation.
and now is not the right time to make money trading. Especially in day trading, in my opinion the possibility of getting a profit is very small and even then it is done with full time and high skills and also depends on how much capital is traded.
and the best way now is to buy when the price is low or do DCA when the trend is down, and all for the long term.

It is a smart idea to start learning crypto now and stop relying on others because, during difficult times, they'll never help you. I know that these experts really exist but just like us, they also lose and make wrong decisions. Day trading in not just about earning a profit but losses are a part of it. But the good thing is that our bad experiences teach us to become strong and even more careful for the next round. Quitting is not the best option but rather make ourselves to deal the situation and accept it.

i agree, especially when it comes trading crypto because of beings so volatile wherein you will end up losses in just mistakes and even you have good strategies still useless.. Because tbh I've been practicing my strategies for years and i believe it's accurate all good so i wonder why on live day trading it always didn't go well. Lol so now i choose long maybe it will work..  

I strongly advise against seeking someone that has the expertise and knowledge on day trading crypto. Because the crypto market is very volatile and unpredictable, I think you are better off learning how to tell when the crypto market is in a bullish trend and just basically buy Bitcoin and HODL.

And also learn when is a bearish market to determine when is a good price to purchase crypto at the lowest price per coin.

Even with 20 years of experience in trading you lost all your money? Sorry to hear that. Risk management is of one the most important tools when it comes to trading in my opinion. I have less experience than you and also had my share of big losses in the past. What I learned from losses is that is more important to avoid losing money than to chase the biggest returns. It doesn't matter if you make 5% or 10% return on your investment if you lose all of it in a few weeks. The best thing that helped me to go broke again was diversification, I am splitting my money across different asset classes and never invest all of it only into one trade. The broader our portfolio the higher the chance that some positions will be in the green when other positions are tanking. Day trading is nothing for me anymore, because I don't have the time to be successful at it. Without spending enough time to do research and constantly evaluate your positions it doesn't make sense to trade every day. My personal investment approach is more long term as I have to spend a lot of time between my normal job and my family. You need to find the best approach to trading that makes you comfortable and where you make money long term, if you are not happy with day trading anymore take a break from it.

If he can manage the amount of money for day trading, he won't have to worry about losing all his money because he can manage his money for one trade. And if he can have good trading skills, of course, he can minimize the risk of losing it so that he will have the opportunity to profit from trading. It may not be safe, but by overcoming the risk problems that will come to him, he can also trade well and choose which coins to trade. And with his abilities, he can see the state of the market and decide when to trade.

many will probably think the same as you all that it is not easy to do day trading, and there is a fear that all the existing money will be lost.
it must be remembered that all trades will always have risks and nothing is guaranteed to be safe, but it is true that you always look for the smallest possible risk that happens if it will happen it will not make all money lost.
Once again, everything is a habit that is done by anyone, maybe he is already used to doing daily trading and he feels it can make a quick profit, although the risk of loss is also not small.

Day trading is all about profits and losses, it is not only applicable to trading it is so applicable to daily life business. In business you can gain or you loose but on a long run,
there should be a compilation to track your losses and your gains, compare both of them and know if you are moving forward or not.

According to the topic creator, he has five years experience in Trading maybe, he might have looked back and understood that he made losses in his 5 years journey. Trading may not be for him. Some other persons will have a totally opposite story telling you how wealthy and Rich they have become a five years of trading.

The trick is to do whatever you are good at, because everyone else is a different type of person who approaches things differently. I knew a guy who was a Japanese teacher and had absolutely nothing to do with finance at all, he lived in Germany so he wasn't in Japan, and dealt with euros.

Combining his Japanese hardwork with German discipline, dude turned a few hundred euro into over a million dollars by working hard to first study and learn and know everything he could find, and then be active and hardworking and NEVER going out of his system even when things didn't look good. Find your own method, do not try to copy others and you will get there too.