Topic: Day Trading for a Living? - page 7. (Read 3852 times)

Yes, it is true that most of day trading lose. It is also because of their instinct about the market, even trading can also require you being lucky because once you are not lucky enough just like in gambling then you will surely lose. Your analyzation or instinct will also be nonsense.

To take advantage of the Bitcoin market by trading and live of it, of course it is possible, but it must be taken into account, that it is not achieved overnight.

Many traders when they start doing their operations focus on how much they will earn, and the right approach would be: How much are you willing to lose? When trading is seen as a way to get rich or a millionaire, then it is better not to trade.

For me, the correct approach to trading is to see it as a business, just like any other, in every business, annual profits of 20% are expected, maximum of 30%, this according to the return on investment calculated under your previous investment. The advantage of the bitcoin market is that in just 1 operation you can do 20%, from there you have to begin.

When you have a trading plan and you see trading as a business, we might already think that you can pay the minimum earnings to live, it is not impossible, it may be difficult to get there, but studying and having a mentality focused on Market can be achieved. A very good technique is how Jesse Livermore did, every time he made a profit from his trades, half of what he earned, he withdrew it, to feel the money, enjoy it, travel, spend it, not everything is to invest and invest and operate, You have to feel the money.

not as easy as it is done, for me trading is just to fill free time, because for me work in the real world is much more fun because we can communicate with friends directly even though they can use Video Call but it feels different, for that I choose to trade in spare time , although sometimes win and loss, but for me as long as there is no continuous loss. use stop loss to anticipate.

Solid advice, but to all of these I will add to keep your expectations in check, one of the most common issues that new investors have to face is that they have ridiculous expectations about the profits that they can get out of this market, there are people thinking that they can earn 1000 times what they invested in less than a year if they invest in the right coin, there are others that think that they can double their money in a week, and it is people like that which suffer the most when they invest in useless coins and they lose their capital.

Interesting stats as it entirely reflects the effects and realities of day trading. Contrary to what you posted, I have seen positive results based from my experience and from my peers also. Day trading is definitely risky especially if you consider the amount of capital, experience, and patience when it comes in looking for opportunities. But it also depends on what kind of goal you have as a day-trader and your limitations on the extent of loss.


I usually trade if I have the extra capital to do so. The dangers associated with day trading stems from your losses as you are inclined to recover from it. But once you get to experience the actual trading, it becomes relatively easier. It is essential that you observe the market frequently to know the current trends so you could base your decision from facts.

This would be very risky decision. Day trading is very demanding and risky, only few are successful in it and to make for the living with day trading is something that only few are capable of. There is no guaranteed profit and no matter how modest you arr you can't be sure that you will be able to earn enough to cover all your needs and expenses.

Will it supposed that everyone chases that opportunity and aiming to become a millionaire in just a day but it looks impossible. It is really difficult to stay in the line when we don't have enough money to back-up especially when are in the market struggle and it for sure we can't take it long but to quit. This is to think that most successful traders are millionaires as they have capable of.

Indeed the statistics probably not 100% correct and not representative as a whole traders but according to the people experience then lately it's very difficult to get profit from day trading and me too as a witness of my friend that he was give up to do day trading and lost almost all of his initial money

If you're talking about transaction fees, it's very low. I usually trade at Binance and it only takes 0.1% for each transaction. If you have BNB coins then you can choose BNB to reduce 25% of transaction fee.

Yes, I do believe that. It is still better to put up a business and bet your money there than investing in stocks or crypto when you don't have a lot of money to back you up when you lose it.  But I guess people like me just want to to take a shot in crypto and be an instant millionaire and that is why most of unemployed and broke people are chasing many shitcoins.

Cryptocurrency trading is even more profitable than Forex trading, in my opinion. It is not as profitable as it used to be though but it's still OK. 
I am beginning to think that profitable traders are those who can sit many hours without distractions, observing multiple exchanges, go through charts, researching, etc. It takes alot of patience, sacrifice and hardwork to stay that long. 
Normal trading is not totally based on luck. You can make some correct predictions if you study the charts well.

I don't really believe in data that says only 0.4% do actually make profit from day trading because there all around about people who are making good return on their day trading in crypto currency. But if you said such percent happen in playing gambling then I will some how believe your report and not day crypto currency trading.
What traders need to Know is the strategy that work for you and be ready to stake to your strategy.

Even the professional part-time traders hesitate to leave their daily job and joint the world of full-time traders. Living from payheck to paycheck is not going to make anyone rich but having a deep understanding of the financial literacy will help the average people to get in the finaicalm market trading. Starting from the part-time trading, dedicated people increase their standard market risks per trade and the result is not as good as in the old days. From my experience, having a successful trading history and positive statement for the last 3 years can be the reasons why the trader should start to feed the family from the funds he earned through finical market trading.

I don't think this will be a good idea and ain't to be considered as a passive income by now. It eventually many people tried to trade but somehow they lose and put blame themselves. It is only good for those people who have a dedication and really have a good market understanding, and much better if we are in focus within.
Now, if we are trying to be one of those successful traders, then we need to find our self if we are capable of doing this or how much get prepared for any possible results in trading.

Sad to say but I am a witness about this reality,4 of my friends tried so hard to become a “Daytrader”only to realized that they are not gaining even cent but losing is what they’ve got.the 4 of them do daytrading together ,sharing TA from threads or “experts” combing their knowledge about things they must need but in the end?failure is what they got.and they end up losing almost 80% of their capital.for me these Daytrading thing wasn’t for everybody ,and not because you are knowledgeable in crypto it means you will be a successful trader because it’s not and I can assure for that

This fluctuation is the reason I am not all out looking for income from trading, working and earning a steady income is more beneficial for everyday life.

That is right, day trading will cost too much time to spend and that is very stressful work. I can't consider this is worth having a source of income for living. The market is very volatile any time it will pump nor dump. Why not find a job for your living to have a stable source of income and you know you will never be an experienced failure. I'd rather to invest long term and hold than to work in daily trading, it is very risky due to unpredictable market.

I personally don't support spending much time on trading but daily or long term form of trading won't yield better income if the trader is not diversified with his trading research and investment because the crypto market momentum is not stable and can pose any trend at any giving time.

Daily transactions are difficult, and need a lot of skill. They need to constantly collect information and learn to read price charts. I used to be a daily trader, but I had a big loss so now I switch to long-term sending, hopefully in the future I will get profit.

Day trade is very hard to me
I am in day trading group on Telegram
They are mostly use Bitmex Derbit margin trading but very few of them are really wining
I prefer to look high time frame and trade mostly daily chart or 4h chart
Now day trading is very high risk because market is so tense after last sell off