day trading - what's the catch? - page 7.

AceWallen

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Quote from: enhu on July 08, 2014, 08:37:53 PM

Quote from: paradoxum on July 08, 2014, 03:26:02 AM

I've been watching the BTC for a month - it seems to go up and down for no discernible reason.

That is why its risky unlike in the FOREX market things happen and sudden changes in the market has reason like Non Farm payrolls.

have you ever tried trading forex? i got slaughtered, coming from a bitcoin trader's perspective. day trading bitcoin is $$. it's so robust -- anytime i'm wrong about going long, i just baghold. it always recovers. (just be careful with margin Wink

)

enhu

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Quote from: paradoxum on July 08, 2014, 03:26:02 AM

I've been watching the BTC for a month - it seems to go up and down for no discernible reason.

That is why its risky unlike in the FOREX market things happen and sudden changes in the market has reason like Non Farm payrolls.

buy4crypto

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freecrypto.top

This is not all cases. But when you believe in the coin and what its doing. Buy when others are selling, and sell when they are desperately buying. That usually works out.

FattyMcButterpants

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the "catch" is that 80% of traders lose. the winning traders lap up all the money while the majority slowly bleeds away their capital...

Marbit

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Quote from: BitCoinNutJob on July 08, 2014, 12:29:29 PM

Risk and stress. The stress is the worst part, always have a side income if you are trading or have other riskier sort of incomes. With limited stress anything becomes easier.

Totally -- the stress of day trading and scalping is the worst. I don't want to do it forever, but I need to maintain my long term bitcoin position, and short term, I need income.

BitCoinNutJob

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Risk and stress. The stress is the worst part, always have a side income if you are trading or have other riskier sort of incomes. With limited stress anything becomes easier.

fdiini

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Day trading is like gambling. Close to 100% failure rate.

designerusa

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Buy now, sell later.

thermost

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I'm going to start day-trading soon as I've got enough btc, probably only trade small amounts to start off with.

ranochigo

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Crypto Swap Exchange

Trading is like gambling. You cannot predict the exchange price accurately. Most exchanges have fees which eats up a sum of your profits.

Dannie

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Trading is a zero-sum game, and don't forget that trading fees will accumulate to a significant amount if you are doing intra-day trading.

Velkro

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Quote from: merockstar on July 04, 2014, 07:10:55 PM

the catch is you're going to guess wrong at some point and lose out on a lot of money.

and also all fees of trading
that eats up most of pofit

#yolo

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If I understood you correctly you are taking about buying from an exchange and selling to another (though I think this can't be categorized as day trading that much)
if you consider the costs of depositing to the cheaper exchange -mostly cheaper because it has limited deposit options- and the cost of withdrawing in the other more priced one you would be in negative most likely -bankwire fees, exchanger fees- also it would take days to do a single one of these "exchange operation" and the BTC price might have fluctuated against you since the price difference isn't that big...

Bitcoin Magazine

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the catch is you lose money, compared to a similar Buy&Hold strategy. don't believe lies like Wolf of Wall Street. no sane man makes $1 million a week

shogdite

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LIR Dev. www.letitride.io

The catch is potentially losing a shitload of bitcoin. I only trade what I can afford to lose, sometimes invested in the right alt currency at the right time (though i've lost a couple of btc buying into several shitcoins).

over1977v

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The catch is the fees make it negative game for average seller/buyer. Fortunatelly there are many buying/selling at any price so you just hope there are not many traders who preffer buy low and sell higher, who compete with you to try make profit

paradoxum

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I've been watching the BTC for a month - it seems to go up and down for no discernible reason.

smoothie

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LEALANA Bitcoin Grim Reaper

The catch is...there is risk.

Trade with caution. I would only trade and invest with money I could afford to lose.

This is not financial advice.

Kenshin

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I think forex trading is easier than bitcoin trading. Forex trading, you can see news what is happening in that country, major events and press release. All these can move the price of forex. It is more predictable. Where as bitcoin trading, the price just goes up and down for no reasons most of the time. Undecided

I used my skill and experience in forex trading, and apply that to bitcoin trading. I lost over £200 in one day. That is why I don't trade in bitcoin, I just hold.

Peter882

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Quote from: apepoof on July 07, 2014, 05:15:05 PM

Isnt it like gambling?

Pretty much. There are some different theories to predict asset price though.

Topic: day trading - what's the catch? - page 7. (Read 7088 times)