Day trading is worth it if you are an experienced trader and if you always stick to your strategy, else if you are beginner you are bound to lose your money, I did day trading one time and I didn't enjoy it, because it requires alot of time and attention, you have to actively watch the price chart to be able to catch every little 1-5% move a coin makes, in my case I couldn't give it that much attention so I stopped day trading, now I only the longterm/swing trading and so far I'm doing great.
Topic: Day trading, is it worth? - page 6. (Read 947 times)
For daily trading, I do not take a lot of profit, maybe it's only 1 percent, daily trading is very time-consuming to keep track of the market
where when there is only a little profit there, then I have to sell it immediately. Maybe it's better for me to avoid losing, but I still make
a profit. Yeah, every trader has their own strategy. You'll also find your own strategy in the end.
where when there is only a little profit there, then I have to sell it immediately. Maybe it's better for me to avoid losing, but I still make
a profit. Yeah, every trader has their own strategy. You'll also find your own strategy in the end.
Trading requires skill and experience, I was into day trading some time ago and was trading in a token I know a lot about so I was able to make some good profits from trading that single toke, I got unlucky when I try to trade in some other coin which was doing well at that period I increased my portfolio thinking I have good knowledge but there after I lost all the profits I made from the beginning since then I have being studying and have not gone back into trading cause I believe I have not learn enough about trading.
Day trading is worth it if you have a lot of time or full time in trading like trading for a living. Consider too the size of your portfolio because you need a good amount of capital for it since you are dealing with a consistent trading fee per arbitrage so it's important that you consider the size of your portfolio is huge to cover the trading fee.
I do day trading before and gain profit but when I compared when I just hold it, I have more profit when I just hold.
Day trading requires constant check. So instead, you could buy and hold for the long term as in today's bull market if you choose the right coin you can't be spoked by small market volatility. There are still a few alts out there that are far from their potential=, so plenty of room to grow. Be wise when choosing and don't get too hang up on feelings. I do day trading before and gain profit but when I compared when I just hold it, I have more profit when I just hold.
That's why in trading, a lot of experience and information are needed to get profit from it. You should keep calm and don't be panic. Try to make 1-2% daily and it will a huge amount at the end of the month. Finally you can use the strategy of stop loss.
Btw. Guys thanks for all of the knowledge
. I wanted to respond to every one of you, however, it would mess the whole topic (which partially does, do apologize for it ).
To some people, I know that is not profitable for some other people but there are people who can profit from this, that is what I can see from others and not me. I have tried trading and I wasn't good at it, I sometimes do it again when I see a coin dropping too much and I think that coin worths more, not on small coins but the big top 20 coins and those usually go back up after they drop so I get them and sell them when they go up. Those kinds of stuff really do matter a lot in crypto.
However I know people who trade daily and they make a lot of money, I know a guy who made 100+ bitcoin from nearly zero in the past 3-4 years and that kind of stuff really shocks me but they do happen. Which is why I think it is quite obvious that we should be focusing on what we can and we can't do, if you can trade and good at it you should do it but if you can't you should probably stay away.
However I know people who trade daily and they make a lot of money, I know a guy who made 100+ bitcoin from nearly zero in the past 3-4 years and that kind of stuff really shocks me but they do happen. Which is why I think it is quite obvious that we should be focusing on what we can and we can't do, if you can trade and good at it you should do it but if you can't you should probably stay away.
i often do daily trading. it's easier for me, compared to scalpers who have to continuously wait in a few minutes. day trades only buy and hold and the target will be higher.
What is your current return?
You’re putting too much emotion with your trades, and this is also why many are losing money in trading and most of them stopped on trading. I’m not into day trading because of my work so I prefer a medium to long term trading which I can easily analyze the market on a larger time frame.
If you’re still not ready for day trading then don’t do it, just imagine how much you can make in medium to long term trade compare to day trading, again this is all depends on your strategy.
If you’re still not ready for day trading then don’t do it, just imagine how much you can make in medium to long term trade compare to day trading, again this is all depends on your strategy.
Thank you for your answer and advice. I would like to put money aside for a long-term view as well!
(btw. yeah I was emotional and still, I am...nevertheless I learned my lesson and I have to separate it from trading! ) 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 ....
If you do not have the knowledge and experience, then using day trading you will definitely lose your deposit. In such cases, it is better to stick to investing for the long term, leaving the minimum part of the deposit to gain experience in day trading, while simultaneously gaining knowledge about trading.
Thank you for your advice.
I have to gained it ! Since then I have read studied books/watched videos and I come to conclusion from Socrates: I know that I know nothing.
If you have reached this point, you are doing super great, and I mean it!
I am talking about the path of naked charting/indicators/patterns.
I was lucky enough to stay on (a tiny) profit while I've "played" day trading, until the point I understood that I know nothing and that I'm doing it wrong. And I've stopped.
If you want to "continue the fight", be careful. There's something people keep telling and I find it very true: TA alone is not enough. TA alone can trick you very easily. You have to be connected to all the news and rumors, whether it's from crypto, or politics or finances. And then you have a chance. And never forget the main 3 rules:
1. Only play with money you afford to lose (eg. not credit money)
2. Stick to the plan (don't be greedy, don't panic, ...)
3. Always have a safety net (eg. stop loss)
I do agree with you. Do you like to keep track of on chain analysis? When did you day trade have you used 1%trading rule, was it something else, or just play money? Thank you for your answer!:)
Yes, I lost the battle
, however, I don´t want to lose the warYeah losing the battle is losing your account by logic conclusion and not losing the war is not giving up in trading Nice passion. Passion is good for trading and seeing you have gone to study and do more research is good.
I will direct you from your post where you should do more research on because that is where your strength is or you have a good plan already that you can build and depend on.
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....
Above is the answer you provided by yourself.
So why run away or abandon a winning plan for something else you don't know and may be confused about? You confirm you have winning trades, why not stick to it, develop more by focusing your research on it and avoid losing the battle (s).
The grass always look greener from afar remember. No trade pattern is perfect.
No football coach will intentionally avoid using there best legs in a tough match.
Hello mate, I think this is worth it right now I'm doing with a daily trade not too much capital but more risky it depends on the coin I want to trade but mostly I go in through Bitcoin and ethereum. I want to share that I'm using the Bollinger bands and the RSI just going for daily trade and also with the binance and using the isolated trading I easily manage the potential trade I want and the profit I need.
Also good to set a goal every time you trade and make a cut loss to avoid burning your funds. Good luck to your journey.
Also good to set a goal every time you trade and make a cut loss to avoid burning your funds. Good luck to your journey.
Could you go with me through your evaulation. This is only my thought process, therefore tell me what could go wrong.
1. I assume, that you will chcek daily chart first and see where is potentional support
2. Check for order block on 4 hours
3. Check for RSI (around 30 long) (70 short)
4. Check bollinger band for stop loss (I am really curious about your stop loss. Is it bellow the bollinger band if you are going long?)
5. Take profit in upper part (are you aming for taking partial profits or is it all or nothing?
6. Do you have a time stop? Let´s say day trade therefore I am going to be in trade for 24 hours, if I am not going to reach my target I am out ?
Btw. Thank you for sharing your knowledge!
i hear RSI is good indicator
https://www.youtube.com/watch?v=dQw4w9WgXcQ
thank you for the advice. I read day trading for a living from Alexander Elder. It is a great book about indicators!
i often do daily trading. it's easier for me, compared to scalpers who have to continuously wait in a few minutes. day trades only buy and hold and the target will be higher.
Sometimes day trading didn’t result to profit more or less you will still experience some losses or a time needed to wait, but if you’re really on goal of doing it daily and making sure to profit there is a need to resort more altcoins to watch out if it will be a help to gain or simply to stop loss. I still prefer to wait sometimes and just watch the market till It’s possible for some profit.
Day trading is worth it if you have a lot of time or full time in trading like trading for a living. Consider too the size of your portfolio because you need a good amount of capital for it since you are dealing with a consistent trading fee per arbitrage so it's important that you consider the size of your portfolio is huge to cover the trading fee.
I do day trading before and gain profit but when I compared when I just hold it, I have more profit when I just hold.
I do day trading before and gain profit but when I compared when I just hold it, I have more profit when I just hold.
Watched videos, you say?
You should take time to put that to test already, OP. Watching and reading medias all alone won't help you self-evaluate, if you really learned something.
I had day trading experience long time ago, and I use indicators like Bollinger Band.
It was a rough start, since I lost it all still.
You should take time to put that to test already, OP. Watching and reading medias all alone won't help you self-evaluate, if you really learned something.
I had day trading experience long time ago, and I use indicators like Bollinger Band.
It was a rough start, since I lost it all still.
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).
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).
The thing is very simple to explain, you want to learn something quickly, when in fact it takes a lot of time to become an experienced trader, if at all possible - because not everyone is talented at dealing with such things. Imagine a situation where someone finishes primary school in a period of 1 year - and we all know that is not possible, otherwise we would not have that period of education timed for a period of at least 8 years.
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.
If anyone can share their strategy, I am one ear.
There are probably such people, but there are certainly no more than 10% of them, although some research shows that this number is closer to 5%. Their strategies will certainly not be shared on public forums, because as I wrote earlier in one thread, the loss of the majority is a gain for the minority - so is life in general, because if 10% of people control 90% of the world's wealth why don't they share their methods how to become rich?
Are you just doubting your capability now? I'd join groups if I were you. Maybe you just need a little bit of push again.
Hehe, it's always easier to give advises...
What I've done back then was more like guessing ("gambling") than actual trading. Some of these rules I've learned after quitting trading.
Now I don't have enough time to follow all the news. I am not that good with TA either. And for me it was quite stressful to trade and I want a bit more peace of mind.
Since then I also have a family, hence a steady income is a must. And I don't want to do this as a replacement for may daily job.
All in all, it would be quite a surprise if I'd do trading again.
i often do daily trading. it's easier for me, compared to scalpers who have to continuously wait in a few minutes. day trades only buy and hold and the target will be higher.
You should buy and sell within the day to called you day trader, you don't wait for the next day to do this one.Scalpers are risky, they buy and sell within a minute so I also go for a day trading which can be more worth it if you have enough capital. Whatever you are doing in trading, its risky so you should know the consequences of your action and always think before you trade. To make it more worth it, equip yourself with the right trading pattern, have your best strategy and slowly win in trading.
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