Topic: day trading - what&#039;s the catch? - page 2. (Read 7088 times)

Quote from: Mobius7 on July 19, 2014, 02:34:27 AM

The more trades you make, the more trading fee you need to pay, and the fee will eat a big proportion of your profit.

You need to always factor the fees into every trade. Every trade you enter, you are immediately already down by the fee + spread. So you need to plan accordingly, and not play for minimal gains that threaten to become losses.

This is exactly why I don't day trade. I just don't see a risk/reward that seems worth it to play $5, $10 moves. If BTC falls a lot, I buy. If it rises a lot, I sell. Generally, this has done me pretty well....

Marbit

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Quote from: Marbit on July 19, 2014, 02:20:18 AM

Quote from: Marbit on July 19, 2014, 02:20:18 AM

The more trades you make, the more trading fee you need to pay, and the fee will eat a big proportion of your profit.

You need to always factor the fees into every trade. Every trade you enter, you are immediately already down by the fee + spread. So you need to plan accordingly, and not play for minimal gains that threaten to become losses.

Yup, and that's why I (without much luck and knowledge in day-trading Tongue

) prefer to simply hold my bitcoin instead of trading it.

That's fair enough. I trade, but I wouldn't consider it day trading. I think we see cycles that are predictable enough -- long term tops and bottoms are impossible to call, but once we see clear failure/recovery, the trade is usually worth making.

Mobius7

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The more trades you make, the more trading fee you need to pay, and the fee will eat a big proportion of your profit.

You need to always factor the fees into every trade. Every trade you enter, you are immediately already down by the fee + spread. So you need to plan accordingly, and not play for minimal gains that threaten to become losses.

Yup, and that's why I (without much luck and knowledge in day-trading Tongue

) prefer to simply hold my bitcoin instead of trading it.

Marbit

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Quote from: hollowframe on July 17, 2014, 06:53:15 PM

The more trades you make, the more trading fee you need to pay, and the fee will eat a big proportion of your profit.

You need to always factor the fees into every trade. Every trade you enter, you are immediately already down by the fee + spread. So you need to plan accordingly, and not play for minimal gains that threaten to become losses.

Mobius7

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Quote from: NapoleonBonaparte on July 05, 2014, 08:24:44 AM

Quote from: qral on July 04, 2014, 07:09:20 PM

I think a lot of people think they can strike it rich by day trading, but very few people can make a living off of it. It takes up a lot of your time as well, but good luck if you try it.

Spot on.

Day trading is a loser game.

How come some people still do it then?

If you're not too greedy, and you're satisfied with profits of about 10% on a trade, and you don't panic sell or buy, it's not that hard not to lose money really.

10% is a lot for a trade that is done by a day trader. Most day trader try to make a lot of trades with small gains, hoping that these gains add up over time.

The more trades you make, the more trading fee you need to pay, and the fee will eat a big proportion of your profit.

ajareselde

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Satoshi is rolling in his grave. #bitcoin

Hello,
I'm just interested if is it possible or there is some catch. I see that price of BTC on stocks is different (of course) but the difference is big enough to make money with just buying on one stock and selling on the other one. So my Q is what's the catch? I already checked fees and still it's should be ok.

I've never trade BTC (yet) so correct me if I'm wrong or there is only classic risks like falling price..

I check price @ http://bitcoincharts.com/markets/currency/USD.html

Thanks in advance for your time.

Theres no real catch, follow the news, and react before the market does.
Alot of coins are manipulated, and thats why its so hard to make a profit.

Most interesting market for me is LTC-BTC pair. it moves daily, so its kind of interesting, but the manipulation is obvious.

cheers

cookiemonsterwhat

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the catch is you dumping more of your hard earned bitcoin to a losing game.

Ninietz

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Quote from: NapoleonBonaparte on July 05, 2014, 08:24:44 AM

Quote from: hollowframe on July 17, 2014, 06:53:15 PM

I think a lot of people think they can strike it rich by day trading, but very few people can make a living off of it. It takes up a lot of your time as well, but good luck if you try it.

Spot on.

Day trading is a loser game.

I have not seen many successful stories so far in the day-trading.
The only thing i did hear is that it is very, no sorry, extremely stressful and on the long run it eats you from the inside out...
Best of luck with the ones that try....

Nrcewker

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DGbet.fun - Crypto Sportsbook

If do day-trading, you can try LakeBTC, you can put USD or BTC into CNY to do trading, which is free, it can help you save a lot of fee.

lynn_402

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Quote from: NapoleonBonaparte on July 05, 2014, 08:24:44 AM

I think a lot of people think they can strike it rich by day trading, but very few people can make a living off of it. It takes up a lot of your time as well, but good luck if you try it.

Spot on.

Day trading is a loser game.

How come some people still do it then?

If you're not too greedy, and you're satisfied with profits of about 10% on a trade, and you don't panic sell or buy, it's not that hard not to lose money really.

10% is a lot for a trade that is done by a day trader. Most day trader try to make a lot of trades with small gains, hoping that these gains add up over time.

You're right if daytrading Bitcoin, but this is quite common with altcoins. In the last 24h, Dogecoin, Ripple, Darkcoin, Counterparty and many more have had swings of more than 10%

hollowframe

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Quote from: NapoleonBonaparte on July 05, 2014, 08:24:44 AM

Quote from: counter on July 17, 2014, 04:08:12 PM

I think a lot of people think they can strike it rich by day trading, but very few people can make a living off of it. It takes up a lot of your time as well, but good luck if you try it.

Spot on.

Day trading is a loser game.

How come some people still do it then?

If you're not too greedy, and you're satisfied with profits of about 10% on a trade, and you don't panic sell or buy, it's not that hard not to lose money really.

10% is a lot for a trade that is done by a day trader. Most day trader try to make a lot of trades with small gains, hoping that these gains add up over time.

counter

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Time is on our side, yes it is!

I feel the same way but I can't help but try and buy I feel I should at least try and buy a couple different coins I think have real potential. I'm also thinking if Bitcoin does make any real moves these same coins are almost sure to follow. The problem is having bad judgement(on my part) during a coins pump and thinking you will get easy money.. Then you get dumped on. Sad

billyscuz

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The catch is you're a newb so you're going to make mistakes. The altcoin scene is littered with scams coins, clones, pump & dumps, whales, weak hands, bots, never ending hyping and oh my there's more..

altcoins are very risky. when BTC is in a strong bull market, i'll look for a bottom in alts then. for now, stick to BTCUSD.

counter

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Time is on our side, yes it is!

The catch is you're a newb so you're going to make mistakes. The altcoin scene is littered with scams coins, clones, pump & dumps, whales, weak hands, bots, never ending hyping and oh my there's more..

Cryptopher

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Keep it dense, yeah?

Quote from: lynn_402 on July 17, 2014, 03:53:09 PM

Quote from: Cryptopher on July 17, 2014, 03:48:55 PM

Quote from: NapoleonBonaparte on July 05, 2014, 08:24:44 AM

Quote from: Cryptopher on July 17, 2014, 03:48:55 PM

I think a lot of people think they can strike it rich by day trading, but very few people can make a living off of it. It takes up a lot of your time as well, but good luck if you try it.

Spot on.

Day trading is a loser game.

How come some people still do it then?

If you're not too greedy, and you're satisfied with profits of about 10% on a trade, and you don't panic sell or buy, it's not that hard not to lose money really.

The trouble is that the caveats you listed are some of the hardest things to conquer for many new traders. Even after time it's hard to shake off a habit. Aside from the discipline that you mentioned, it's all about believing in your trade.

That's true, everyone starts there and I panicked many times at first Tongue

But one gets better with practice, and that's why it's important, when starting, to only try with very small amounts that you won't mind losing.

I always tell myself after a bad trade or a missed opportunity that I should look out for these hallmarks and avoid/take the trade instead the next time - though I still make the same mistakes. I think that I judge myself against the 'perfect' trade too often, which leaves me a little disappointed.

It's sad to think that for all the profit people make, there are losers out there - but that's the fundamental of such a market and a risk everybody needs to remind themselves when going into this.

lynn_402

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Quote from: NapoleonBonaparte on July 05, 2014, 08:24:44 AM