Topic: Is day trading is good in crypto market? - page 4. (Read 994 times)

It will depends on your skills in trading and if you have it, your day trading will be more profitable. Its given that whales have more money to trade but it doesn’t mean that they are the only one entitled for profit, because even small trader can be more profitable. Day trading requires great skill and control, if you can’t do day trading then better to trade long and make your trade a less risky.

It's simple, if you are a newbie then i don't think it's a good idea to choose day trading. But if have much experience in trading world then it might be fine. But i think maximum people would be agree that day trading is much risky than swing trading and long term trading. I hope this is a good article to find why you love to choose swing trade over day trade. It's not true that only whales got profit from trading. Those people got profit from trading who's have much experience and who's are professional in trading life.

If you are trading you cannot expect to make the profit on a daily basis but if you are taking things seriously and wanted to trade for a short period of time then it is possible, just invest when the market goes down and wait for the market to recover and you really do not need any technical skills to understand that and the volatility in bitcoin will give you plenty of opportunity to make profit in a short period and you do not need to be a whale, even a shrimp can make the profit  .

Your thoughts are right mate, don't ever be deceived by the comments about day trading being good for everybody, No, it is not. Only those trading with huge capitals are making the money. Your best short if your capital is not too large is to buy and hodl coins that have use cases that is going to make it price rise with time. Those are the ones you are likely going to make over 100% in months.

It's up to you, actually. If you know well about day trading I mean when to buy when yo stop loss, then you can get a good result from day trading. But if you don't know how to analyze the market condition, price chart then it's better to avoid day trading! I know many people who made a big profit even when the Bitcoin price was 3200$, but many people ended up losing their capital, knowledge was the difference between them.

In terms of today's markets, I think it is an ideal period for daily trade. The fact that we have been seeing constant price increases for the last few days is actually a very good opportunity to open new long or short positions. In general, I would like to point out that daily trading is actually very risky, but it has a high return as much as risk. I recommend doing the daily operations after reaching the sufficient level of knowledge and getting enough experience.

Day trading is profitable because crypto is highly volatile but the question is you are going to make profits from those volatility or not?

If you have enough experience and skills you can make profits from day trading.

Whales influence in day trading may not be that much because they will manipulate market once for a while so if you are doing trading regularly you can still make profits.

There are always two sides of a story. I don't know how you have concluded that 99% of traders lose their capital, but that's definitely not true. Probably you have heard stories from loosers only that's how you have concluded.

I agree, day trading is risky. Probably more risky than any other types of trading. But it is extremely rewarding as well. But don't conclude that people only loose money in day trading. They also make good amount of money out of it.

Day trading has a bit of a challenge because it could possibly make more money than an investor or it could lose money instead. Every day is a new challenge, you wake up, you have a certain amount of money to start with, you work and you know that day will be very different than any other day. That is tough in mental state as well, I know we look at it in financial ways and billions in the world would say they prefer to work hard and actually get what they deserve in money, but there is also a level of working hard that eventually breaks people.

My dad worked 38 years before he retired, yet the day he retired he vowed to never work again, you could be like that in couple years only if you push yourself too much, that changes from person to person as well of course.

Prices are climbing up, if you know when to get in and exit your trade each day, you should be able to earn a lot in day trading. It's easy to trade when the prices of coins are moving up than when prices are diving.


Its possible to do it in low time frame maybe 5-15 minute chart, it just needs a little timing.  Right entry point and you can exit anytime as long as you can earn some, the perfect exit is almost impossible.

Please be reminded that day trading is not always the winning part here. Probably, it is more risky and hard to predict since we are looking for a daily profits, it is  not easy to always get daily wins too. If you are good in a technical and fundamental side with also good risk management plan, then we can have that profitable daily trading.
 
 I prefer long term and margin trading for now. Somehow, it gives me my target profits and much better to manage it than that of daily trading.

Yes day trading can absolutely be profitable. It's by far the easiest and time-free way to make money if you're good at it, cuz all you're doing is looking at some charts on the computer and pressing a few buttons and then you sit back and live you life and sometime later you see your trade completed and you made money. It's also by far the easiest way to lose money if you're bad at it though or if you make the mistake of trying to trade during a downturn in the market.

I don't get the sentiment that only whales make money, that makes no sense. There is no difference between you putting in a buy order at 7500 and a sell order at 8000 than a whale doing those same orders, the whale just makes a lot more money than you do, but the same percentage. Saying only whales make money day trading (or only professional traders) is just a cop-out when what you really mean is you're bad at trading. Whales operating in the market in no way hinder your ability to make money.

You are entirely responsible for any profits or losses you make. It is simply a matter of how well you read/predict the market, how well you manage your emotions, and how well you manage risk. If you are bad at trading you'll lose money, if you are good at trading you'll make tons of money.

Plenty of people will lose money because they are bad at trading. Usually it takes a lot of experience to start getting good at trading. I've been trading for years, and I was pretty terrible when I started, now for the most part I'm pretty good, though I still make mistakes constantly because it is impossible not to since we can't predict the future, but that doesn't stop me from making a lot of money day trading.

SIMPLE TIP:  If you don't have capital (millions), don't do daily trading, it is very capital intensive betting.

Day trading will depend on how good you analyze the market so you will have the opportunity to search for the right coins, and you can make a profit. It is better to make $30-$40 per day profit than to chase a bigger profit if we don't get the right coin. Getting a loss in trading is normal because every trader have those experience, and if you can learn from your loss, you will have more knowledge on how to avoid the loss. Perhaps, you will know how to trade better than before.

But to make a big profit will depend on the initial money that you used in trading, and I think you don't have to force yourself to deposit more money than you can afford because once you lose, you will lose bigger money too. If you still new in trading, then $30-$40 is enough as a start so you can make a bigger profit in the next trading.

I'm curious how much capital you use to gain this profit?

For me $70-$120 a day is a huge amount.
[/quote]

I am also curious about this 70 to 120 dollors per day is a great amount. I am happy with 30 or 40 dollors per day profit. Its really good to know how much capital you invested for getting this profit. I am very nervous because I am always being in loss in trading. Don't know what should I do for getting profit in trading.

I always change my trade if the market is active enough I will do my trading on a daily basis, for me the key to success in daily trading is the timeliness to enter the market and also when exit the market.
Why whale have profit because they use big capital.

I'm curious how much capital you use to gain this profit?

For me $70-$120 a day is a huge amount.

In this market situation, I don't advice any cryptocurrency trader to go in for day trade he or she is likely to loose all capital. What is good in this market situation is to jump in and jump out no long term or HODL trade. Before doing that you have to stick closed and study the market movement before you enter. Which you have said it all that whales owns the market at this period.

Hey there!

Of course in day trading, always expect that you lose most of the time than winning. There are some truth on what you have been saying about whales. However, there are some traders out there who are still profiting in the bear market until now. Every trader has their own skills and techniques to profit in day trading, but there are no astronomical guaranteed returns for that. I can honestly say that day trading is much riskier than long-term holding. You need to be skilled enough to be a day trader and your emotions must be stronger in case something goes unexpected.

I was actually have the same question as you before. However, it turns out that I am not educated or skilled enough to be a cryptocurrency day trader. I only rely on looking at the buy and sell order and the live prices on CoinMarketCap. There are various educational videos about cryptocurrency trading on Youtube by the so-called "gurus". They are offering trading courses that are "overpriced" whether if it's a one-time offer or monthly subscription.

I believe that educating ourselves on cryptocurrency trading would help us in the long-run. Online education platforms such as NewsCrypto, TraderCobb and Udemy are some of the best I've ever seen to get started in becoming a skilled cryptocurrency trader. You can also look for a legitimate coach or mentor who can help you in becoming a skilled cryptocurrency trader who can make profits despite the bear market.

Day trading is profitable when you have the expertise and experience in TA and when to enter and exit. The risk is also big because one wrong move and you bought a position but the goes lower you could loss a potential to profit. So better, learn first and read all the fundamental and have a try with a little amount that way you can see it for yourself if that trading method is the one for you.

Any trading strategy can be profitable or not.
Try everything and see what you get.