Day trading, is it worth? - page 2. | Bitcointalksearch.org

DoublerHunter

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Quote from: qwertyup23 on March 28, 2021, 02:27:59 PM

Depends on the capital that you are willing to invest in day trading.

Generally, prices of cryptocurrency changes every single minute of the day without any notice. Some traders took advantage of this volatility and they engage into day trading. While it may seem tempting, the guaranty of profit is not absolute as the loss is directly proportional to the money you invest.

I remember I read an article about day traders as they lose 97% all the time and the successful day traders earn as big as someone who works as a bank teller. So, if you are willing to risk huge amounts of capital, then expect big winnings/losings at the same time.

^ I disagree with your statement here.
Gaining profit in day trading is not about the capital, it is all about the knowledge and skills that you had for perfect market price analysis.
For me, it will depend on your experience + skills + knowledge = profit, if you have all of these, then consider day trading is profitable enough for you because the chances of losing are very far on your side once you know that you are good into it. Nevertheless, it does not have a guarantee that all of the time you get profit in day trading.

qwertyup23

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Depends on the capital that you are willing to invest in day trading.

Generally, prices of cryptocurrency changes every single minute of the day without any notice. Some traders took advantage of this volatility and they engage into day trading. While it may seem tempting, the guaranty of profit is not absolute as the loss is directly proportional to the money you invest.

I remember I read an article about day traders as they lose 97% all the time and the successful day traders earn as big as someone who works as a bank teller. So, if you are willing to risk huge amounts of capital, then expect big winnings/losings at the same time.

Rasel5209

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Quote from: Peaceandlove! on March 22, 2021, 06:24:29 AM

Hello guys, how are you?

It is nice to meet you!

My journey began at the beginning of the pandemic. My portfolio was growing and I was in a state of euphoria. I assumed, that trading was really easy and instead of sticking with my initial plan (long-term investing) I got to shorting/trading a lot. Yes, I lost the battle Cheesy

, however, I don´t want to lose the war, therefore I have started study a lot and I got to the point:

Since then I have read studied books/watched videos and I come to conclusion from Socrates: I know that I know nothing.

My head is spinning from all of the information and I am lost because I really don´t know what path should I take. (don´t get me wrong I don´t want to switch out from trading, I made my promise and I am trying to reach out to people who are more experienced than me).

I am talking about the path of naked charting/indicators/patterns.

After all, I know this may sound silly as hell, but I truly believe in a reality where we have traders who make on consist basis between 10%-20% in a month.

If anyone can share their strategy, I am one ear.

I am really curious how are you evaluating your trading ideas, what is the process, and what are your rules what type of traders you are?

If anyone could explain their strategy on day/swing/scalp/position you will make my day

At least I tried it Cheesy

Have a beautiful life, peace and make them gainz!

Hello, I am fine. You have long of experience in trade. I agree with you first i say day trade is high risky way and you can not wait for huge profits. On the other side if you buy coin and hold it you can make huge profits. If you can selected good coin you have any pain.

Savemore

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Quote from: bitzizzix on March 26, 2021, 11:05:19 PM

Quote from: Mahanton on March 26, 2021, 06:49:40 PM

Quote from: Ryker1 on March 26, 2021, 05:59:56 PM

Quote from: Swopon on March 25, 2021, 12:00:43 PM

Definitely it is worth. But day trading is not very easy, tough. So you have to trade the day very carefully. Day trading should not be done without sufficient knowledge. Many do not want to trade long again, because they can not.In my opinion, there is a good profit if you can trade the day efficiently.

Well, that is right --it is worth it if you have sufficient knowledge and skills on it and of course, the most important is the time that you will perhaps spend on the day trading. I have heard there are too many traders that gained profit day trading, I don't know what is their technique or strategy and I admire them but the problem is I don't have sufficient time doing this and I am afraid if I will force my self I will be lost all my fund. However, if you are willing to risk your money and hoping that will earn it, that is good for you because day trading and gambling for me is almost the same.

Everything would really be accompanied by risk and its one of the most common thing when you do deal with trade and with the word day trade which means you would need to be active
which simply means that you would need lots of time for you to deal with it.Yes, this is profitable if you done it the right way but something risky that not everybody could able to handle off
This will particularly tested out your capability towards trading activity because not all would really be fitting out on this kind of trade.This doesnt only need sufficient long time
but also a very crucial when it comes to risk handling or management.

In my opinion a successful day trader should have a deep understanding of the market and of course have a lot of experience which will minimize risks and should do so on a full time basis.
It is not easy to become a day trader and must have very adequate skills, and use technical analysis, chart patterns and technical indicators in identifying trades etc., which in my opinion is very complicated.

A lot of people usually expect that they can earn a lot of money by becoming a day trader without knowing that they need a lot of skills and strategies to master first before they finally become good at it. It takes time and I do not talking about just days or weeks, I'm talking about months and even years of studying, backtesting and researching. Creating a trading system for day trading is not easy as you think because for sure you really need to work hard in order to become good at it.

There are now a lot of technical analysis lessons that we can find all over the internet and my advise for those people who want to become full time trader is they should first invest in their knowledge first wherein they should have foundation on what are they doing. Day trading is not easy but the rewards there are great so be sure that you have knowledge on it first before putting real money.

cute nmp

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Day trading is profitable but only if you have knowledge about trading and it's basis.I prefer swing trading because it is more stable and have more wins but swing trading does not always work in crytocurrency because of the high volatility.So I switched to learning price actions and some indicators which I used for my day trading and was able to make some reasonable amount of profits from it.

aysg76

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Day trading is a game of knowledge,skills,and experience because you have to be keen observer of the market all the time and if your strategies are well deployed then you could earn some profits.But you will lose at some point as this is part of trading.But if you are willing to have huge returns and have patience then try to hold it for the long time.Buy coins at the dip rather than investing at peak prices and regretting afterwards which is all in vain.Make your portfolio of some of the most top coins and play with them in your allocated budget which is one of the best practice.Always try to learn and never says I know everything as you have said you have reached at that point which is good on your behalf.Keep going with determination.

TheGreatPython

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Quote from: noorman0 on March 27, 2021, 08:19:21 PM

Especially when the market is experiencing a sudden correction, it will erase your previous prediction. Don't use even 50% of your total assets on day trading if your portfolio is not very good.

Yeah, I am into day trading but I am using only 10% of my available capital. Because, unpredictable volatility is more common in bitcoin market hence to withstand against unexpected losses I am forced to use very least capital which is the enough for me to gain some small profits on day-to-day basis. I have tried previously with the big capital for big profits on daily basis but I was not successful so I changed my plans which is somehow fitting for my trading habits.

Quote from: Wawa2013 on March 27, 2021, 10:57:28 PM

It is not easy to make profit from day trading, because we must have excellent analytical skills in reading the movement of coins.

I have experienced that technical analysis failing time to time in day trading because I have been missing news and events which are affecting crypto space. So, day trading can be profitable if we are able to find short-term market directions but with indicators it is becoming possible for me regardless of I'm not good in analytical skills.

boyptc

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Quote from: noorman0 on March 27, 2021, 08:19:21 PM

Yes it is worth it if you have plenty of time to monitor the charts, but you should always be ready to switch to long-term trading when your profit target has not been reached. Especially when the market is experiencing a sudden correction, it will erase your previous prediction. Don't use even 50% of your total assets on day trading if your portfolio is not very good.

There is also a tendency that he has to cut loss if his analysis didn't go well. It is the best option that a day trader has to do.

No feelings and emotion as they trade and only has to make the right decisions to lessen the loss.

Wawa2013

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It is not easy to make profit from day trading, because we must have excellent analytical skills in reading the movement of coins. And also day trading
must use large capital, so that the profits generated can also be large. Because day trading only takes about 1% -3% profit every day. Therefore, if we
use small capital, it will be very difficult to get a decent profit.

And also the selection of coins is very important if we want to do day trading, it is safer to choose high volume coins. Because usually coins with
a high volume of price often move up and down, we can use it to make a profit from the coin price movement. So in conclusion day trading is very
feasible for traders who are experienced and have good analytical skills.

noorman0

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Yes it is worth it if you have plenty of time to monitor the charts, but you should always be ready to switch to long-term trading when your profit target has not been reached. Especially when the market is experiencing a sudden correction, it will erase your previous prediction. Don't use even 50% of your total assets on day trading if your portfolio is not very good.

wiss19

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Quote from: Peaceandlove! on March 22, 2021, 06:24:29 AM

I am really curious how are you evaluating your trading ideas, what is the process, and what are your rules what type of traders you are?

If anyone could explain their strategy on day/swing/scalp/position you will make my day

I think you should be careful, it’s not a must that you’re going to be a trader, just know your limit while you’re doing this so that our don’t end up losing your money too much while trying to learn how you can trade. If it’s not working just know that there are other ways that you can be getting income from cryptocurrency, trading is not the only means that was created for people to be earning money from Bitcoin.

Just do the one that’s going to work out for you. You can as well try HODL and see whether it’s going to work. At least you can have time to try others things or maybe continue you’re job while the money HODL stays there

bitzizzix

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Quote from: Mahanton on March 26, 2021, 06:49:40 PM

Quote from: Ryker1 on March 26, 2021, 05:59:56 PM

Quote from: Swopon on March 25, 2021, 12:00:43 PM

Definitely it is worth. But day trading is not very easy, tough. So you have to trade the day very carefully. Day trading should not be done without sufficient knowledge. Many do not want to trade long again, because they can not.In my opinion, there is a good profit if you can trade the day efficiently.

Well, that is right --it is worth it if you have sufficient knowledge and skills on it and of course, the most important is the time that you will perhaps spend on the day trading. I have heard there are too many traders that gained profit day trading, I don't know what is their technique or strategy and I admire them but the problem is I don't have sufficient time doing this and I am afraid if I will force my self I will be lost all my fund. However, if you are willing to risk your money and hoping that will earn it, that is good for you because day trading and gambling for me is almost the same.

Everything would really be accompanied by risk and its one of the most common thing when you do deal with trade and with the word day trade which means you would need to be active
which simply means that you would need lots of time for you to deal with it.Yes, this is profitable if you done it the right way but something risky that not everybody could able to handle off
This will particularly tested out your capability towards trading activity because not all would really be fitting out on this kind of trade.This doesnt only need sufficient long time
but also a very crucial when it comes to risk handling or management.

In my opinion a successful day trader should have a deep understanding of the market and of course have a lot of experience which will minimize risks and should do so on a full time basis.
It is not easy to become a day trader and must have very adequate skills, and use technical analysis, chart patterns and technical indicators in identifying trades etc., which in my opinion is very complicated.

Mpamaegbu

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Quote from: Peaceandlove! on March 22, 2021, 06:24:29 AM

I assumed, that trading was really easy

Add this to your bag of wisdom — Assumption is the highest form of ignorance.

You did what you were supposed to do first on the second guess, and that was getting the basic skill set for trading. Well, good a thing you eventually recognized that you didn't know anything and went for tutorials on trading. I have to admit to you that trading isn't an easy job. But then, so also is going to space. Yet people take the risk going to space.

Quote from: Peaceandlove! on March 22, 2021, 06:24:29 AM

I am talking about the path of naked charting/indicators/patterns.

You meant solely relying on Price Action? Even with PA you will still need leading indicators like trendlines and pivots to know where stops of Support and Resistance are. In the actual sense, there isn't such thing as naked charts.

Quote from: Peaceandlove! on March 22, 2021, 06:24:29 AM

If anyone could explain their strategy on day/swing/scalp/position you will make my day

These positions are individual specific. What works for A may not work for B or C. So, you have to choose what suits your temperament. If you're the impatient type of person in real life, you may want to avoid scalping or day trading. Choose swing .

Zemomtum

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Day trading is not an easy thing to do unless you have mastered the rudiments of training. Most people get this done after 2 years of consecutive trading, you might end up losing more if you are a newbie and attempt the day trading.

Mahanton

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Quote from: Ryker1 on March 26, 2021, 05:59:56 PM

Quote from: Swopon on March 25, 2021, 12:00:43 PM

Definitely it is worth. But day trading is not very easy, tough. So you have to trade the day very carefully. Day trading should not be done without sufficient knowledge. Many do not want to trade long again, because they can not.In my opinion, there is a good profit if you can trade the day efficiently.

Well, that is right --it is worth it if you have sufficient knowledge and skills on it and of course, the most important is the time that you will perhaps spend on the day trading. I have heard there are too many traders that gained profit day trading, I don't know what is their technique or strategy and I admire them but the problem is I don't have sufficient time doing this and I am afraid if I will force my self I will be lost all my fund. However, if you are willing to risk your money and hoping that will earn it, that is good for you because day trading and gambling for me is almost the same.

Everything would really be accompanied by risk and its one of the most common thing when you do deal with trade and with the word day trade which means you would need to be active
which simply means that you would need lots of time for you to deal with it.Yes, this is profitable if you done it the right way but something risky that not everybody could able to handle off
This will particularly tested out your capability towards trading activity because not all would really be fitting out on this kind of trade.This doesnt only need sufficient long time
but also a very crucial when it comes to risk handling or management.

Ryker1

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Quote from: Swopon on March 25, 2021, 12:00:43 PM

Definitely it is worth. But day trading is not very easy, tough. So you have to trade the day very carefully. Day trading should not be done without sufficient knowledge. Many do not want to trade long again, because they can not.In my opinion, there is a good profit if you can trade the day efficiently.

Well, that is right --it is worth it if you have sufficient knowledge and skills on it and of course, the most important is the time that you will perhaps spend on the day trading. I have heard there are too many traders that gained profit day trading, I don't know what is their technique or strategy and I admire them but the problem is I don't have sufficient time doing this and I am afraid if I will force my self I will be lost all my fund. However, if you are willing to risk your money and hoping that will earn it, that is good for you because day trading and gambling for me is almost the same.

ReiMomo

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Quote from: Questat on March 25, 2021, 06:02:34 PM

~snip~
Time is very important in day trading and we need to monitor our trades from time to time. I did sometimes for this but when I have in focus, no office job, and during my day-off. Honestly, this requires concentration, we only just fail if we are not in that mood. Yeah, better to forget about trading if we don't have enough time to do it.

This is very true because I tried this before when I was in my job before since there is free wifi in my workplace, I tried day trading but it ends up a failure because I can't manage very well my trading portfolio because I can't focus it. Day trading needs to consume your time and you should spend more time on it. It's like once you enter in day trading, you just committed to spending all your time.

If you can't this day trading and have a lot of free, I suggest being an investor in crypto or long-term trading, day trading isn't for you if you have a job. And if you going to ask me if that is worth it, yes, but there are so many things to consider.

blockman

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Quote from: stomachgrowls on March 25, 2021, 05:55:00 PM

Quote from: blockman on March 25, 2021, 03:57:29 PM

Quote from: Findingnemo on March 24, 2021, 03:57:30 PM

Quote from: blockman on March 24, 2021, 02:50:15 PM

And it ends up being an investor is a better choice than to day trade. I myself am an investor and found it better than day trading. But there were times that I did day trade and that seems to be a good day but many were bad days too.

Actually, myself as well a day trader who used to have trading volume of few hundred bitcoins on LBC but I am doing it more like fun and hobby than doing it to bring revenue which is supposed to fulfil my survival requirements. And I can also repeat that as a day trader you may face more bad days, even few hours can ruin all your profits of a month. Lips sealed

That's right, your long time profits can eventually be moved in day trading if you're not careful enough to protect it and will allow your own emotion to move you.
I think that's a better idea if you're having fun but you're also thinking of the good return as you trade but no pressure at all.

Secure everything while you still can when it comes to profits and when the time that you are already just re-rolling or re-investing on the profits that you had made and able to make another profits with that

then i can say that this kind of trading is somewhat a less stressful than into those times that you are still struggling on getting ROI into your initial capital.Thing here is that you shouldnt really rush up on reaching out that
certain goal of yours because once you do have that pressure in mind then it would surely reflect into your actions.

Finding day trading to be worth is something that only yourself could prove out because not all would really be fitting out into this kind of trading method.It isnt something
that everyone could handle so better test out for yourself and find it out.

There are traders that can't do that. They have a different strategy in trading and they would be willing to use their capital together with the profit instead of securing it first.
At least, that's what we're going to do if we've gained that much already and would be wanting to continue and extending our trading activity with what we have. I agree that it's better to secure everything first.

michellee

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Quote from: Findingnemo on March 25, 2021, 09:28:27 AM

Quote from: michellee on March 25, 2021, 07:16:55 AM

snip~
The only way for day traders to prevent the loss is to learn every day to analyze the market. By learning more about trading every day, you will know the coin pattern while searching for the other coins, which can be the potential to give you a profit. Yes, day trading is hard, but that is worth trying and learn more analysis to find what coin will work best for you. If you think that your trading time does not work for you, you can leave the market for a while to see if the market's moving will be good in the next few hours.

Bitcoin or any crypto never follows any patter, we assume that it is supposed to move based on the candle sticks and indicators but if it move in that way most of the time then day traders would be world's richest persons in this world but it will not happen since we are talking about day trading not, short or mid term trading.

We need to prepare many things before we decide to be a day trader because the market will always change. Maybe the price pattern will not be the same, but we can try to analyze where the pattern usually moves, so we can analyze more to find what we need to do. Maybe you need to determine the good time to trade in a day, so when you trade, you can make a profit and you do not have to trade all day long, but you can continue trade tomorrow, especially if the price is at a good move.

Questat

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Quote from: tvplus006 on March 25, 2021, 10:36:10 AM

Quote from: Om.monata on March 25, 2021, 09:16:47 AM

based on the stories you shared, I have better suggestions. so like this, you are patient and do day trading. even though the profit is small but it can be sustainable, and you can receive profit every day. you don't have to trade long term because it is too risky. so you can collect a little profit every day besides that you can do analysis so that your trading can be sharpened even better.

Day trading requires more time from the trader than long-term trading. And if you can not always be in front of the terminal, then this type of trading is not suitable for you. And as practice shows, traders earn less in day trading than those who invest for the long term.

I tried this one during office hours and my breaks but unfortunately, it never works great and it will just end up losing.

Time is very important in day trading and we need to monitor our trades from time to time. I did sometimes for this but when I have in focus, no office job, and during my day-off. Honestly, this requires concentration, we only just fail if we are not in that mood. Yeah, better to forget about trading if we don't have enough time to do it.

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