Day trading generally is very risky especially now that the price in decreasing day by day. The reason most people are holding their bitcoins is because they do not want to be at a loss.
I'd suggest you hold your bitcoin if you have any until the middle of January when the price of bitcoin might have come back to over $20000
Topic: how risky is day trading? - page 22. (Read 2429 times)
I often trade within a day. The main thing to control risk and make several transactions with little risk. The total loss should be not more than 3% of the deposit.
Daily trading is very risky and important because in a short of period of time there so many traders that buy or sell their coins but if you lucky to focus on the coins that you are holding you can increase your holdings and money. You only need time to focus on a daily trading.
The way market is moving from last three months. No strategy was better than day trading. Day trading can usually earn 5%-50% return on coins and loss can be reduced by using stop loss at 1%-5%. ATM coins multiply in a day and get dumped the other day. In such circumstances day trading can help a lot in marking profits and reducing the loss percentage.
It is risky just like putting your money on a stock market, you cannot earn as much as you want when you are getting your investment whenever you want or just by doing daily trading, you have to at least hold it especially in bitcoin. Losing 5%-50% is not a normal thing, when that is happening to you then your strategy is not right.
Day trading is very risky for newbie trader who does not have strategies and risk management. But for expert trader, day trading is good way to make money, very profitable and less risk because they know what should be done before jump in to day trading.
Of course a beginner for normal trading needs theoretical knowledge, but I have already seen for myself that without practice it will not work. It is better to learn how to practically trade on the exchange itself and gradually you can definitely learn. 
Day trading is very risky for newbie trader who does not have strategies and risk management. But for expert trader, day trading is good way to make money, very profitable and less risk because they know what should be done before jump in to day trading.
Day Trading is a very risky if you not follow and not analysis coin . if you buy wrong coin and you must lose money so i think it is involve some risk
I was practicing day trading this morning with LTC because I don't have a lot of money to get the large profits with BTC/BCH/ETH. I am under the understanding that the percentage rate when trading small amounts of BTC/BCH/ETH can and will result in profits(and possibly losses) but because of how expensive BTC/BCH/ETH is, the percentage will be very low obviously higher with ETH and then BCH respectively but still lower then using LTC. SO because of that I choose to use LTC.
I've been studying the BTC/BCH/ETH/LTC graphs everyday(less so with BCH since its new) And the first thing I noticed was how volatile all of these coins are. They are all perfect for day trading as long as you know there is an inherent risk involved.
there were major dips and rises in all of them today, I was not able to capitalize on it at all during the day because I had to take care of other business.
In my opinion if you want to capitalize on day trading first you have to research how your particular exchange works, some are setup better then others, but if you have a good amount of money you can get a API that allows you to set up your screen so all the info you need is there without having to scroll to look for order books, historym depth charts, graphs, analysis and the state of the price. Order books are important to watch because it tells you where your order is in the book if your placing a BUY/SELL limit order. DEEP LIZARD on you tube has tons of information on the GDAX exchange platform and they go into great detail on how to use the GDAX exchange to your advantage. check them out you wont regret it. this post is sided to using GDAX exchange or if you can get an api then it can be setup like gdax or even better.
things you need to decide on.. which coin will you be day trading? for beginners, you need to concentrate on one particular coin and make sure the coin and exchange has high volume which will result in a lot of action. to sum it up, your profits will be based on the amount of money you can use in one given trade. if you have a low, mid, mid/high, high amount of money and you want to be able to get out back into your FIAT your best bet is to stay away from alt coins..
things are more complicated with alt coins. you can tackle them later on if you want just know that instead of day trading one particular alt coin you will also have to be watching the coin you are trading the alt coin with as well. if you decide your done with your alt coin for the day and you want to get back to FIAT you have to make sure that the coin you day traded your alt coin with is at the same price you bought it at OR HIGHER. if it isnt and you get out of it and back to FIAT you could possibly lose all your profits if the Coin you used to daytrade the alt coin with IS DOWN. I know some people tend to trade with BTC for alt coins and stay in BTC when done. if you did that today you would have lost a ton unless you calculated it and bought when it was dipped in that case your profits would be much higher with the alt coins that you gained on. for me and any beginner this is too complicated for starting. in my case I want in and out of coins back to fiat to keep it simple.
I am not doing alt coin day trading yet because it's to risky, especially the way things were this morning with BTC/BCH/ETH/LTC.
as far as the amount of profits goes. BTC has substantial loss and gains on most days but you need a lot of money to do it with BTC so just for a simple way to understand it here it is:
LTC lowest price Highest profits with lowest amount of money
ETH mid low price mid high profits with 2nd to low/mid amount of money
BCH mid price mid profits with 3rd to mid amount of money
BTC high price low profits with 4th to highest amount of money
I hope that makes sense.
I have found that GDAX is the ultimate platform unless you have a program that interfaces with the exchanges this is the best one for day trading because if you place LIMIT orders that go onto the order book THERE IS NO FEE for buying or selling!!!!!!!!!!! if you place market orders there is a .25% fee. DEEP LIZARD ON YOU TUBE HAS GREAT INFO ON ALL OF THIS its where I learned to refresh my tired ass.
on any given day on GDAX one of these 4 and/or all can produce large profits its just depends how much skin you have in the game. I am Encouraging the use of GDAX because of the NO FEE buy/sell limit orders or you can buy/sell market orders and incurr a .25% fee on all your trades please make sure you take into account your fees if you do use market buy/sells
to try and make it clearer lets say you have $100,000 and you did all your research and your ready to test out day trading. first thing you need to do is do it with $100 and get a grip on the speed it takes to enter your orders and get them on the order book for buy/sell limit orders with NO FEES
if you just want to buy/sell market expect a .25% fee and take that into consideration and deduct it from your profit margin. Its a catch 22 deciding because if you do limit orders they are harder to FILL then a regular market order because you have to be quick on the laptop to replace orders if your order goes higher on the buy/sell side of the order book.
I'm going to make up fictitious prices just so you understand the profit ratio here and understand why its better to day trade with a lower priced coin.
All of these trades have a strategy of $5 coin rise and with a Buy/Sell LIMIT, "POST ONLY" ORDER on GDAX:
LTC @ 100 Buy 100LTC for $10,000 Sell @ 105LTC x 10,000= $10,500 Profit= $500
ETH @ 600 Buy 16.66666666666667 ETH for $10,000 Sell @ 605ETH x 16.66666666666667 = $10083.33333333334
Profit= 83.33333333334
BCH @ 2000 Buy 5 BCH for $10,000 Sell @ 2005BCH x 5 = $10,025 Profit= $25
BTC @ 10,000 Buy 1 BTC for $10,000 Sell @ 10,005BTC X 1 = $10,005 Profit= $5
If you do not use the Buy/Sell LIMIT, "POST ONLY" ORDER approach the orders above would have incured a .25% for BTC and .3% for ETH and LTC buy AND sell fees (obviously you would need to account for this if this is your strategy and thus you would need to get out later then you would to cover the FEE) this makes day trading even HARDER if your making short plays.
LTC @ 100 Buy 100LTC for $10,000 Sell @ 105LTC x 10,000= $10,500 Profit= $500
(buy fee $30 sell fee 31.50= 61.50- 500=438.50 Profit)
ETH @ 600 Buy 16.66666666666667 ETH for $10,000 Sell @ 605ETH x 16.66666666666667 = $10083.33333333334
Profit= 83.33333333334
(buy fee $30 sell fee 30.25= 61.25- 83.33333333334 =22.08333333334 Profit)
BCH @ 2000 Buy 5 BCH for $10,000 Sell @ 2005BCH x 5 = $10,025 Profit= $25
(buy fee $30 sell fee 30.075= 60.075- 25= -35.075 LOSS OF CAPITAL)
BTC @ 10,000 Buy 1 BTC for $10,000 Sell @ 10,005BTC X 1 = $10,005 Profit= $5
(buy fee $25 sell fee 25.0125= 50.0125- 5 = 45.0125 LOSS OF CAPITAL)
I've done this to illustrate the need to adjust your strategy before you enter into the BUY and you are LIVE waiting for a certain Price to hit before you can get out to make a profit and cover your lossses by KNOWING what will make you the profit you are looking for. plus the fees associated with the buy and sell. Its always best to aim for a low profit and if it keeps going up adjust your sell limit price to bear the fruits of your hard work.
Day trading isnt for everyone you have to be super concentrated when you buy in if your going for a quick profit. for instance if the stock takes a dip(usually because a whale sells) You have to be ready for it or you can miss it completely! I said earlier all 4 coins on GDAX had at least 2 substantial dips in price and if you were concentrating on the graph and you caught it there was at least $50 in less then a minute that could have been made on each share you purchased hence why a lower priced coin makes you more money... I hope this was helpful. I may even make a thread for it to share the info.
I may have made math errors if i did point them out and if theres anything I was wrong about please point it out I want to make sure I have it down correctly. hope you like this!
one cavaet is that I know that you can make great profits with BTC because when the price changes with BTC and even BCH the range of price rise and fall is more then ETH and LTC but it works backwards for BTC if you only trading with a percent of a BTC or BCH SO I get that part. I guess in the grand scheme if you want to just get good at day trading any coin will do but after all it would be nice to make a larger profit then a smaller profit when starting out regardless right?
I've been studying the BTC/BCH/ETH/LTC graphs everyday(less so with BCH since its new) And the first thing I noticed was how volatile all of these coins are. They are all perfect for day trading as long as you know there is an inherent risk involved.
there were major dips and rises in all of them today, I was not able to capitalize on it at all during the day because I had to take care of other business.
In my opinion if you want to capitalize on day trading first you have to research how your particular exchange works, some are setup better then others, but if you have a good amount of money you can get a API that allows you to set up your screen so all the info you need is there without having to scroll to look for order books, historym depth charts, graphs, analysis and the state of the price. Order books are important to watch because it tells you where your order is in the book if your placing a BUY/SELL limit order. DEEP LIZARD on you tube has tons of information on the GDAX exchange platform and they go into great detail on how to use the GDAX exchange to your advantage. check them out you wont regret it. this post is sided to using GDAX exchange or if you can get an api then it can be setup like gdax or even better.
things you need to decide on.. which coin will you be day trading? for beginners, you need to concentrate on one particular coin and make sure the coin and exchange has high volume which will result in a lot of action. to sum it up, your profits will be based on the amount of money you can use in one given trade. if you have a low, mid, mid/high, high amount of money and you want to be able to get out back into your FIAT your best bet is to stay away from alt coins..
things are more complicated with alt coins. you can tackle them later on if you want just know that instead of day trading one particular alt coin you will also have to be watching the coin you are trading the alt coin with as well. if you decide your done with your alt coin for the day and you want to get back to FIAT you have to make sure that the coin you day traded your alt coin with is at the same price you bought it at OR HIGHER. if it isnt and you get out of it and back to FIAT you could possibly lose all your profits if the Coin you used to daytrade the alt coin with IS DOWN. I know some people tend to trade with BTC for alt coins and stay in BTC when done. if you did that today you would have lost a ton unless you calculated it and bought when it was dipped in that case your profits would be much higher with the alt coins that you gained on. for me and any beginner this is too complicated for starting. in my case I want in and out of coins back to fiat to keep it simple.
I am not doing alt coin day trading yet because it's to risky, especially the way things were this morning with BTC/BCH/ETH/LTC.
as far as the amount of profits goes. BTC has substantial loss and gains on most days but you need a lot of money to do it with BTC so just for a simple way to understand it here it is:
LTC lowest price Highest profits with lowest amount of money
ETH mid low price mid high profits with 2nd to low/mid amount of money
BCH mid price mid profits with 3rd to mid amount of money
BTC high price low profits with 4th to highest amount of money
I hope that makes sense.
I have found that GDAX is the ultimate platform unless you have a program that interfaces with the exchanges this is the best one for day trading because if you place LIMIT orders that go onto the order book THERE IS NO FEE for buying or selling!!!!!!!!!!! if you place market orders there is a .25% fee. DEEP LIZARD ON YOU TUBE HAS GREAT INFO ON ALL OF THIS its where I learned to refresh my tired ass.
on any given day on GDAX one of these 4 and/or all can produce large profits its just depends how much skin you have in the game. I am Encouraging the use of GDAX because of the NO FEE buy/sell limit orders or you can buy/sell market orders and incurr a .25% fee on all your trades please make sure you take into account your fees if you do use market buy/sells
to try and make it clearer lets say you have $100,000 and you did all your research and your ready to test out day trading. first thing you need to do is do it with $100 and get a grip on the speed it takes to enter your orders and get them on the order book for buy/sell limit orders with NO FEES
if you just want to buy/sell market expect a .25% fee and take that into consideration and deduct it from your profit margin. Its a catch 22 deciding because if you do limit orders they are harder to FILL then a regular market order because you have to be quick on the laptop to replace orders if your order goes higher on the buy/sell side of the order book.
I'm going to make up fictitious prices just so you understand the profit ratio here and understand why its better to day trade with a lower priced coin.
All of these trades have a strategy of $5 coin rise and with a Buy/Sell LIMIT, "POST ONLY" ORDER on GDAX:
LTC @ 100 Buy 100LTC for $10,000 Sell @ 105LTC x 10,000= $10,500 Profit= $500
ETH @ 600 Buy 16.66666666666667 ETH for $10,000 Sell @ 605ETH x 16.66666666666667 = $10083.33333333334
Profit= 83.33333333334
BCH @ 2000 Buy 5 BCH for $10,000 Sell @ 2005BCH x 5 = $10,025 Profit= $25
BTC @ 10,000 Buy 1 BTC for $10,000 Sell @ 10,005BTC X 1 = $10,005 Profit= $5
If you do not use the Buy/Sell LIMIT, "POST ONLY" ORDER approach the orders above would have incured a .25% for BTC and .3% for ETH and LTC buy AND sell fees (obviously you would need to account for this if this is your strategy and thus you would need to get out later then you would to cover the FEE) this makes day trading even HARDER if your making short plays.
LTC @ 100 Buy 100LTC for $10,000 Sell @ 105LTC x 10,000= $10,500 Profit= $500
(buy fee $30 sell fee 31.50= 61.50- 500=438.50 Profit)
ETH @ 600 Buy 16.66666666666667 ETH for $10,000 Sell @ 605ETH x 16.66666666666667 = $10083.33333333334
Profit= 83.33333333334
(buy fee $30 sell fee 30.25= 61.25- 83.33333333334 =22.08333333334 Profit)
BCH @ 2000 Buy 5 BCH for $10,000 Sell @ 2005BCH x 5 = $10,025 Profit= $25
(buy fee $30 sell fee 30.075= 60.075- 25= -35.075 LOSS OF CAPITAL)
BTC @ 10,000 Buy 1 BTC for $10,000 Sell @ 10,005BTC X 1 = $10,005 Profit= $5
(buy fee $25 sell fee 25.0125= 50.0125- 5 = 45.0125 LOSS OF CAPITAL)
I've done this to illustrate the need to adjust your strategy before you enter into the BUY and you are LIVE waiting for a certain Price to hit before you can get out to make a profit and cover your lossses by KNOWING what will make you the profit you are looking for. plus the fees associated with the buy and sell. Its always best to aim for a low profit and if it keeps going up adjust your sell limit price to bear the fruits of your hard work.
Day trading isnt for everyone you have to be super concentrated when you buy in if your going for a quick profit. for instance if the stock takes a dip(usually because a whale sells) You have to be ready for it or you can miss it completely! I said earlier all 4 coins on GDAX had at least 2 substantial dips in price and if you were concentrating on the graph and you caught it there was at least $50 in less then a minute that could have been made on each share you purchased hence why a lower priced coin makes you more money... I hope this was helpful. I may even make a thread for it to share the info.
I may have made math errors if i did point them out and if theres anything I was wrong about please point it out I want to make sure I have it down correctly. hope you like this!
one cavaet is that I know that you can make great profits with BTC because when the price changes with BTC and even BCH the range of price rise and fall is more then ETH and LTC but it works backwards for BTC if you only trading with a percent of a BTC or BCH SO I get that part. I guess in the grand scheme if you want to just get good at day trading any coin will do but after all it would be nice to make a larger profit then a smaller profit when starting out regardless right?
With the unpredictable changes in bitcoin price people have chose to hold instead of day trading,I mean the majority have.
How risky is day trading at the moment?
How risky is day trading at the moment?
I think the all altcoin is never been predictable. If anybody say that bitcoin is predictable and they know the price for sure and dont believe it. Trading is always unpredictable. Our prediction is just probability game and it can not be 100% but less.
However, day trade is high risk and better try long time holding in top altcoin.
I think daytrading is the most risky while profits are not maximized. Because, not always profit can be achieved everyday. I think, longterm more comfortable and maximum in profit.
With the unpredictable changes in bitcoin price people have chose to hold instead of day trading,I mean the majority have.
How risky is day trading at the moment?
How risky is day trading at the moment?
Its very risky nowadays because bitcoins value now are so volatile and very unpredictable, there will have a big pump and after a moment will be a big dump. Its more safe if you will just go for a long term trading and wait for your goal to reach for long term.
Yes it is very high risk but high return if you can buy sell and buy sell a few times a day.
I think the all cryptocurrency is unpredictable and never predictable. No one knows for sure its run.
The risky of being a traders is if the coin is being scam and they have a big whales
With the unpredictable changes in bitcoin price people have chose to hold instead of day trading,I mean the majority have.
How risky is day trading at the moment?
For me its too risky just like doing gambling.How risky is day trading at the moment?
Because if you are a day traders , the first thing that you should do is to monitor the price movement of the coin that you are holding.
For you to know weather your going to sell your coin or tto keep holding it.
You couldn't actually avoid losses but you can lessen it if you just learned the proper skills in trading.
With the unpredictable changes in bitcoin price people have chose to hold instead of day trading,I mean the majority have.
How risky is day trading at the moment?
How risky is day trading at the moment?
Its very risky nowadays because bitcoins value now are so volatile and very unpredictable, there will have a big pump and after a moment will be a big dump. Its more safe if you will just go for a long term trading and wait for your goal to reach for long term.
I agree with you, bitcoin are going down now. Can bitcoin up again?? I mean can btc touch 20000/30000$ after January or before???
Its almost risky like gambling in the casino. And it depends whit which amount you trade. If you trade with very high amount, you can loose alot in just one second when you make a mistake!
With the unpredictable changes in bitcoin price people have chose to hold instead of day trading,I mean the majority have.
How risky is day trading at the moment?
How risky is day trading at the moment?
For now it is very risky because this happening is really unpredictable that even fortune teller can't tell of what is coming to digital currencies but with our previous crash experiences it is better you keep holding on and buy or add some because it is much cheaper than before specially bitcoin in which most are waiting of this once a blue moon reduction of price value.
To be a successful trader you need to remember only 1 rule: When people are greedy be fearful. When people are fearful be greedy.
Fear, greed and risk these all things of the market can be calculated and the best way to calculate is to get the data of the market on regular basis and keep studying the data, the more you will stay in the market, the more you are going to get the facts about pumps and dumps of the market and by this you can take the maximum advantage out of the situation. You can also act as an advisor for other investors with some share in the profit. With the unpredictable changes in bitcoin price people have chose to hold instead of day trading,I mean the majority have.
How risky is day trading at the moment?
Day trading is only risky for those beginners due to high volatility of cypto and will do panic selling when it is dropping, it is much more recommended to just hold for these guys but for professionals there is a only just a little risk these guys do not do panic selling they can control their emotionsHow risky is day trading at the moment?
I think it is not that risky, it is just you have to be very careful of where and to trade. There are a lot of trading sites that are scam so make sure you know it and also know when to trade so you will not be broke.
Day trading is risky but only for the ones who are not having enough skillset in the field of trading if you do know about trading and you have this quality of making the wise decisions at tough times, then there is nothing to be worried about. Day trading will then help you in having a very good amount of money but for that you really need to be very much careful before making any kind of decision.
The way market is moving from last three months. No strategy was better than day trading. Day trading can usually earn 5%-50% return on coins and loss can be reduced by using stop loss at 1%-5%. ATM coins multiply in a day and get dumped the other day. In such circumstances day trading can help a lot in marking profits and reducing the loss percentage.
It is risky just like putting your money on a stock market, you cannot earn as much as you want when you are getting your investment whenever you want or just by doing daily trading, you have to at least hold it especially in bitcoin. Losing 5%-50% is not a normal thing, when that is happening to you then your strategy is not right. Jump to: