Day Trading for a Living? - page 3. | Bitcointalksearch.org

jossiel

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Quote from: andycarrol on November 27, 2019, 12:16:36 AM

Quote from: jossiel on November 26, 2019, 03:05:14 PM

Quote from: andycarrol on November 25, 2019, 08:41:37 AM

Yeah daily trading is getting harder, I've been taking a break for 2 months, but that applies to altcoins trading. at the moment I'm more focused on bitcoin, bitcoin has great potential for daily trading with his fluctuations.

There are other altcoins that's way better to trade than bitcoin. I'm a bitcoin holder and I choose not to touch it and just let the other altcoins apply day trading. Doge and Litecoin are good candidates but if you're better in that strategy, continue.

nothing better I think, everything has decreased dramatically, except doge may be very stable with very low prices. What makes you say that both of them have good candidates? maybe ETH is better than both.
I don't really like to trade doge , it's very stable so quite difficult for me to daily trade and gets profit.

It's my opinion and those coins I think are good and just keep your bitcoins for holding. ETH might be better but I'm also treating it to keep the same as bitcoin. But with Litecoin and Dogecoin, I'm okay with them if I would have a bad trade.

That's fine if you don't like doge, I'm only telling my opinion and as I've said, in whichever coin you're doing better, go for it and keep it.

andycarrol

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Quote from: jossiel on November 26, 2019, 03:05:14 PM

Quote from: andycarrol on November 25, 2019, 08:41:37 AM

Yeah daily trading is getting harder, I've been taking a break for 2 months, but that applies to altcoins trading. at the moment I'm more focused on bitcoin, bitcoin has great potential for daily trading with his fluctuations.

There are other altcoins that's way better to trade than bitcoin. I'm a bitcoin holder and I choose not to touch it and just let the other altcoins apply day trading. Doge and Litecoin are good candidates but if you're better in that strategy, continue.

nothing better I think, everything has decreased dramatically, except doge may be very stable with very low prices. What makes you say that both of them have good candidates? maybe ETH is better than both.
I don't really like to trade doge , it's very stable so quite difficult for me to daily trade and gets profit.

jossiel

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Quote from: crossabdd on November 25, 2019, 04:59:22 AM

I personally am a daily trader, and that is for my life. You are right, most daily crypto traders are a loss. especially newcomers. and those who are profitable are big players. but I personally can still make a profit, but have to make extra analysis. like searching for news and looking at chart patterns. because if only with feeling. it will make me lose. and very emotional.

Don't get emotional, it's the number one adversary of the day traders.

Quote from: andycarrol on November 25, 2019, 08:41:37 AM

Yeah daily trading is getting harder, I've been taking a break for 2 months, but that applies to altcoins trading. at the moment I'm more focused on bitcoin, bitcoin has great potential for daily trading with his fluctuations.

There are other altcoins that's way better to trade than bitcoin. I'm a bitcoin holder and I choose not to touch it and just let the other altcoins apply day trading. Doge and Litecoin are good candidates but if you're better in that strategy, continue.

BartS

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Quote from: vintages on November 20, 2019, 10:29:19 PM

No matter what anybody may say, i still think that day trading shouldn't be regarded as a living or main source of income. It is simply because shits happen and its more like you are gambling with your money. Why some people are lucky to do this as a source of income and succeed, it might not work for other. It takes training and years of experience to reach to that level where it can be regard as a living and this experiences involve losing lots of money in it. If you have nothing sustaining you during that time, soon enough, you will be on the street.

Day trading is not really gambling if you know what you are doing, the greatest difficulty of day trading strives in knowing when to enter the market when there is a high probability that the market will go in the direction that you want it to go.

I know that this may sound like gambling since we are talking about probabilities but it isn't really like that in gambling it is impossible for you to select the probabilities of an event happening but when you are trading you can do it and you can decide to enter the market only when there is a high chance that you will win.

marcous

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Quote from: Febo on September 15, 2019, 09:56:06 AM

Is day trading for a living your dream job? Get another one – study says 97% of day traders lose money.

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3423101

Only 0.4% earned more than a bank teller.

You can thank me latter.

It all depends on how much of the percentage the trader taking profits I guess. if they are greedy they will be losing their money. but being a day trader in 2017 is very different, the day traders really can make a profitable from trade every day. so it all depends on each other's passion I guess. And for now, there are still many day traders who can get profits to finance their lives. the key is the only one don't ever greedy if you want to save your money when you take profit

andycarrol

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Quote from: crossabdd on November 25, 2019, 04:59:22 AM

I personally am a daily trader, and that is for my life. You are right, most daily crypto traders are a loss. especially newcomers. and those who are profitable are big players. but I personally can still make a profit, but have to make extra analysis. like searching for news and looking at chart patterns. because if only with feeling. it will make me lose. and very emotional.

Yeah daily trading is getting harder, I've been taking a break for 2 months, but that applies to altcoins trading. at the moment I'm more focused on bitcoin, bitcoin has great potential for daily trading with his fluctuations.

crossabdd

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I personally am a daily trader, and that is for my life. You are right, most daily crypto traders are a loss. especially newcomers. and those who are profitable are big players. but I personally can still make a profit, but have to make extra analysis. like searching for news and looking at chart patterns. because if only with feeling. it will make me lose. and very emotional.

Best Dreams

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Quote from: Wexlike on November 21, 2019, 10:32:42 AM

Quote from: andycarrol on November 21, 2019, 09:17:44 AM

Quote from: Renampun on November 03, 2019, 03:25:51 PM

doing daily trading for a living is the most ridiculous thing
I have already said that daily trading is gambling, managing emotions in daily trading are the most difficult thing
I have never seen daily trading that routinely generates profits every day
better to be weekly or monthly trader.

there's a point, because I've tried it myself, even gambling is easier to get a daily profit, because some games are predictable.
and it's really hard to get daily profits from trading for this year. unlike under 2017, market conditions are still very good. for now, I can at least benefit from trading can be 1 week - 1 month, even that only get 10-20%.
bitcoin domination will be increasingly difficult to make us get profit from daily trading.

The funny thing about that volatility is, that it took a month to erase the gains by the 1 day china pump in October. Cheesy

For chines people, it was the lucky day that price becomes high for them and I hope so many people took advantage of it as day traders remain in search of such a golden chance. Day trading is good and profit as too but it needs high-level knowledge and information about trading. If you really want to become a day trader must learn it well and spend a small amount at the beginning

Wexlike

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Quote from: andycarrol on November 21, 2019, 09:17:44 AM

Quote from: Renampun on November 03, 2019, 03:25:51 PM

doing daily trading for a living is the most ridiculous thing
I have already said that daily trading is gambling, managing emotions in daily trading are the most difficult thing
I have never seen daily trading that routinely generates profits every day
better to be weekly or monthly trader.

there's a point, because I've tried it myself, even gambling is easier to get a daily profit, because some games are predictable.
and it's really hard to get daily profits from trading for this year. unlike under 2017, market conditions are still very good. for now, I can at least benefit from trading can be 1 week - 1 month, even that only get 10-20%.
bitcoin domination will be increasingly difficult to make us get profit from daily trading.

The funny thing about that volatility is, that it took a month to erase the gains by the 1 day china pump in October. Cheesy

andycarrol

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Quote from: Renampun on November 03, 2019, 03:25:51 PM

doing daily trading for a living is the most ridiculous thing
I have already said that daily trading is gambling, managing emotions in daily trading are the most difficult thing
I have never seen daily trading that routinely generates profits every day
better to be weekly or monthly trader.

there's a point, because I've tried it myself, even gambling is easier to get a daily profit, because some games are predictable.
and it's really hard to get daily profits from trading for this year. unlike under 2017, market conditions are still very good. for now, I can at least benefit from trading can be 1 week - 1 month, even that only get 10-20%.
bitcoin domination will be increasingly difficult to make us get profit from daily trading.

bhabygrim

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Quote from: Febo on September 15, 2019, 09:56:06 AM

Is day trading for a living your dream job? Get another one – study says 97% of day traders lose money.

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3423101

Only 0.4% earned more than a bank teller.

You can thank me latter.

Yes I used to have that dream but I realize that it is so risky and one mistake could end it all.
I don't think that those people could really pull it off just think about it how much would day earn daily from their trades and the cost of their living expenses (bills,foods and also their transportation cost) ,
If they would only earn through day trading their capital would be eaten by their expenses alone and soon enough they wouldn't have anything to trade.

piebeyb

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Quote from: vintages on November 20, 2019, 10:29:19 PM

No matter what anybody may say, i still think that day trading shouldn't be regarded as a living or main source of income. It is simply because shits happen and its more like you are gambling with your money. Why some people are lucky to do this as a source of income and succeed, it might not work for other. It takes training and years of experience to reach to that level where it can be regard as a living and this experiences involve losing lots of money in it. If you have nothing sustaining you during that time, soon enough, you will be on the street.

lol, what you say is similar to mine, I learned how to trade it took up to 5 years and all the trading techniques that were obtained require losing money and made my experience into trading techniques, even though I have gained a lot of trading knowledge it certainly isn't that cheap I share my trading knowledge with others, because of the learning that not a little money I lost to get profits in trading on the market until now, the point is never to make trading as your financial income every day because it does not look good

vintages

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No matter what anybody may say, i still think that day trading shouldn't be regarded as a living or main source of income. It is simply because shits happen and its more like you are gambling with your money. Why some people are lucky to do this as a source of income and succeed, it might not work for other. It takes training and years of experience to reach to that level where it can be regard as a living and this experiences involve losing lots of money in it. If you have nothing sustaining you during that time, soon enough, you will be on the street.

BartS

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Quote from: kapalmabur on November 16, 2019, 07:14:38 AM

Quote from: BartS on November 16, 2019, 01:24:05 AM

Quote from: adaseb on November 16, 2019, 01:00:33 AM

The reason why most people can't trade for a living is because they have lack of capital. Sure you can start with $1000 and turn it into $2000 but how many people do you know that do this successfully in the long run? Probably no one.

This is why most people need to have a large 6 figure account so they can trade various industries and each trade is only a small portion of their account. So they can have a large position like $10000 in size and if they only make like 2% it adds up to $200. If you traded with a $1000 account you would only make $20 and most of that would go to the broker as trading fees.

So it's not only experience that is needed to be successful but a large capital also.

A decent amount of money is necessary especially since the days when you could invest a few dollars in a coin and then become rich are definitely over, but you do not need a fortune either.

What you need to do to eventually live out of your trading activities is to trade and to have a job at the same time, that way any profits you get in the markets remain in your trading account to the point that it will grow and you will earn more in the markets than in your job and when that happens you can begin to live out from your trading activities.

the big problem is capital, indeed, if you only trade with 50-100 $ maybe income can be $ 1 per day, I don't think it's bad,
you have to collect as much money as possible to trade, the more capital you earn, the more income you will get,
it is not wrong to make daily trading a job that is a profession now

This is not only important when you trade this is important when you invest as well, at the beginning of your journey it is going to be very difficult to get the money that you need in order to become an investor or trader.

You will need to make a lot of sacrifices but if you care about your future then you need to make those sacrifices, and the sooner you begin the faster you will see the results so there is no point in trying to save until the market conditions improve because you never know when that will happen.

dodgrad

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Quote from: Wexlike on November 10, 2019, 02:49:39 PM

Quote from: dodgrad on November 10, 2019, 02:01:41 PM

Quote from: diazepam666 on November 10, 2019, 01:26:12 PM

Trading and bounty hunting both are same.

These both are really waste of time to invest the fund and we people should not waste our time in day trading. Partially we can invest in trading and learn something. If the luck is in your side, it will be helpful for you.
Else you need to look for other option.

You can't compare trading to bounty hunting. Trading is a game with other players on the market, and bounty hunting is performing tasks for a reward.

I tried day trading many times and unfortunately without good results. Of course, I managed to earn many times, but unfortunately they were not the amounts that would allow me to make a living from it.
I think there are too many bots on the market and unfortunately with them is impossible to won. I think it is more real but still very difficult to look for a chance for arbitration.

At the end of the day, personally I like how things are going right now. We are in the middle of a "healthy" pullback from the micro blow off top we had last October. We'll either find support at around 8.5k (the .5 fib retracement level) and bounce, or we won't and we'll pull down further. In which case, I'll consider putting a long term long with 3x leverage on Bybit. The RSI isn't oversold enough for me to consider doing this yet, but if it does reach that levels then I'll accept a long getting eaten up by funding fees for a bit.

And now that we had this wonderful pump, we can enjoy the start of the week together.

It looks like your prediction didn't come true. This is another example that trying to predict sentiments on such a high risk market as cryptocurrencies is closer to lottery than to common sense. I like the comparison that the effectiveness of predicting the price of BTC or other cryptocurrencies is similar to dice game or hi/low . But unfortunately this is about money, so it is not so funny when we are not lucky.

akmal1984

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Quote from: NewRanger on November 12, 2019, 11:01:43 AM

it has less risky if compared with another trading Investment.but to do that we have to analize chart carefully so our trade have good result.in this year price manipulation decrease alot than on 2017 when all cryptocurrency price rise extremely,but unfortunately in this moment many people trapped in peak price.for day trading there are many coins that have good volatility in 2 or 3 days,this is good opportunity to take.maybe we could earn around 5% from this movement.

That is very correct. Every person wanting to trade crypto must also keep abreast of the latest developments and news from the coins that we wish to trade. I get this new experience. Where do I buy doge at the price of 31 ... it takes 3 days for the transaction to take place. And now the price of the doge is actually going down a little. Maybe I need to find a market that has a greater daily transaction volume. Because for this daily trading it is clearly detrimental to me

Sahyadri

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Losing a trade by ending up in a stop loss is still not bad a deal. That loss can be compensated through just one big winning trade. Usually the risk reward ratio is 1:4. So by winning more than 20% of your trade can be rewarding. So a day trade can become successful as daily earning pretty easily if you can trade wisely and strictly follow your risk reward ratio. Dont think much about the overall trade win-loss ratio. That doesnt really matter.

kapalmabur

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Quote from: BartS on November 16, 2019, 01:24:05 AM

Quote from: adaseb on November 16, 2019, 01:00:33 AM

The reason why most people can't trade for a living is because they have lack of capital. Sure you can start with $1000 and turn it into $2000 but how many people do you know that do this successfully in the long run? Probably no one.

This is why most people need to have a large 6 figure account so they can trade various industries and each trade is only a small portion of their account. So they can have a large position like $10000 in size and if they only make like 2% it adds up to $200. If you traded with a $1000 account you would only make $20 and most of that would go to the broker as trading fees.

So it's not only experience that is needed to be successful but a large capital also.

A decent amount of money is necessary especially since the days when you could invest a few dollars in a coin and then become rich are definitely over, but you do not need a fortune either.

What you need to do to eventually live out of your trading activities is to trade and to have a job at the same time, that way any profits you get in the markets remain in your trading account to the point that it will grow and you will earn more in the markets than in your job and when that happens you can begin to live out from your trading activities.

the big problem is capital, indeed, if you only trade with 50-100 $ maybe income can be $ 1 per day, I don't think it's bad,
you have to collect as much money as possible to trade, the more capital you earn, the more income you will get,
it is not wrong to make daily trading a job that is a profession now

BartS

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Quote from: adaseb on November 16, 2019, 01:00:33 AM

The reason why most people can't trade for a living is because they have lack of capital. Sure you can start with $1000 and turn it into $2000 but how many people do you know that do this successfully in the long run? Probably no one.

This is why most people need to have a large 6 figure account so they can trade various industries and each trade is only a small portion of their account. So they can have a large position like $10000 in size and if they only make like 2% it adds up to $200. If you traded with a $1000 account you would only make $20 and most of that would go to the broker as trading fees.

So it's not only experience that is needed to be successful but a large capital also.

A decent amount of money is necessary especially since the days when you could invest a few dollars in a coin and then become rich are definitely over, but you do not need a fortune either.

What you need to do to eventually live out of your trading activities is to trade and to have a job at the same time, that way any profits you get in the markets remain in your trading account to the point that it will grow and you will earn more in the markets than in your job and when that happens you can begin to live out from your trading activities.

adaseb

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The reason why most people can't trade for a living is because they have lack of capital. Sure you can start with $1000 and turn it into $2000 but how many people do you know that do this successfully in the long run? Probably no one.

This is why most people need to have a large 6 figure account so they can trade various industries and each trade is only a small portion of their account. So they can have a large position like $10000 in size and if they only make like 2% it adds up to $200. If you traded with a $1000 account you would only make $20 and most of that would go to the broker as trading fees.

So it's not only experience that is needed to be successful but a large capital also.

Topic: Day Trading for a Living? - page 3. (Read 3872 times)