Topic: Is it smart to day trade BTC? - page 2. (Read 626 times)
it seems to me more sensible to walk not to the bitcoins, but to some altcoys. their growth in price may exceed the growth of bitcoin several times. better share risks and trade in several coins.
Buy in panic, sell in peace. keep abreast of the news and put a part in it, big risks, big gains or big losses.
Thanks guys, I understand. It's not easy and anything can happen. My idea was based on there is many small ups and downs a day but not many huge ups and downs relatively.
You can't be sure about the strenght of a starting trend... You don't have the information (if you do, you won't ask this), about what moves the price behind the scenes. Some news don't affect the price but some major things can move the price really much (e.g. if Amazon will ever implement bitcoin as a payment method, that would cause huge raise in price or the opposite, if US or EU ban bitcoin that will cause huge drop). You can only read the news, if you trade the news you just follow the market...
Hi,
Basically instead of only waiting for big dips to buy and highs to sell, I am talking about selling at regular high and buy it when it dips $100 lower for example many times a day.
Say you have 10 BTC, this should give you $1000 minus the fees no? So doing it many times through the day you might add a new BTC to your wealth?
Is this reasonable or is there something I am missing?
Thanks in advance.
Day trading is the most difficult way to trade since you will need to watch your open positions very closely and make many trades for the day, now if you can make the money you are claiming in your post then day trading is without a doubt a good idea, but you must understand that those results are extraordinary and most people will never be able to get those results. Basically instead of only waiting for big dips to buy and highs to sell, I am talking about selling at regular high and buy it when it dips $100 lower for example many times a day.
Say you have 10 BTC, this should give you $1000 minus the fees no? So doing it many times through the day you might add a new BTC to your wealth?
Is this reasonable or is there something I am missing?
Thanks in advance.
Hi,
Basically instead of only waiting for big dips to buy and highs to sell, I am talking about selling at regular high and buy it when it dips $100 lower for example many times a day.
Say you have 10 BTC, this should give you $1000 minus the fees no? So doing it many times through the day you might add a new BTC to your wealth?
Is this reasonable or is there something I am missing?
Thanks in advance.
Basically instead of only waiting for big dips to buy and highs to sell, I am talking about selling at regular high and buy it when it dips $100 lower for example many times a day.
Say you have 10 BTC, this should give you $1000 minus the fees no? So doing it many times through the day you might add a new BTC to your wealth?
Is this reasonable or is there something I am missing?
Thanks in advance.
For me, day trading is way more better than Holding. Crypto is very volatile, you can never know when the price falls down or up.
Based on the transaction fees, I suggest it's not really viable to day trade BTC. I'd rather buy and forget about bitcoin, and think of it as a long term investment.
Hi,
Basically instead of only waiting for big dips to buy and highs to sell, I am talking about selling at regular high and buy it when it dips $100 lower for example many times a day.
Say you have 10 BTC, this should give you $1000 minus the fees no? So doing it many times through the day you might add a new BTC to your wealth?
Is this reasonable or is there something I am missing?
Thanks in advance.
Basically instead of only waiting for big dips to buy and highs to sell, I am talking about selling at regular high and buy it when it dips $100 lower for example many times a day.
Say you have 10 BTC, this should give you $1000 minus the fees no? So doing it many times through the day you might add a new BTC to your wealth?
Is this reasonable or is there something I am missing?
Thanks in advance.
Day trading can be viewed as very close to gambling when it comes to Expected Value (EV) and the fact that they both are zero sum games (someone has to lose in order for others to win). There are people who have an edge in trading by having access to yet unknown publicly information, or by having huge amounts of money to dictate the price. So, for a newbie day trading can easily have negative EV, meaning they will be losing more than they earn. It's also hard to apply traditional trading theory to Bitcoin, because it's very different from traditional assets, for which those theories were developed.
Thanks guys, I understand. It's not easy and anything can happen. My idea was based on there is many small ups and downs a day but not many huge ups and downs relatively.
Hi,
Basically instead of only waiting for big dips to buy and highs to sell, I am talking about selling at regular high and buy it when it dips $100 lower for example many times a day.
Say you have 10 BTC, this should give you $1000 minus the fees no? So doing it many times through the day you might add a new BTC to your wealth?
Is this reasonable or is there something I am missing?
Thanks in advance.
Basically instead of only waiting for big dips to buy and highs to sell, I am talking about selling at regular high and buy it when it dips $100 lower for example many times a day.
Say you have 10 BTC, this should give you $1000 minus the fees no? So doing it many times through the day you might add a new BTC to your wealth?
Is this reasonable or is there something I am missing?
Thanks in advance.
Yes you can day trade with this amount of bitcoin but it is still risky. Try to learn first by using 1 bitcoin, when you learn how to make a profit you can start using a higher amount of bitcoins to trade.
Hi,
Basically instead of only waiting for big dips to buy and highs to sell, I am talking about selling at regular high and buy it when it dips $100 lower for example many times a day.
Say you have 10 BTC, this should give you $1000 minus the fees no? So doing it many times through the day you might add a new BTC to your wealth?
Is this reasonable or is there something I am missing?
Thanks in advance.
Basically instead of only waiting for big dips to buy and highs to sell, I am talking about selling at regular high and buy it when it dips $100 lower for example many times a day.
Say you have 10 BTC, this should give you $1000 minus the fees no? So doing it many times through the day you might add a new BTC to your wealth?
Is this reasonable or is there something I am missing?
Thanks in advance.
You are missing the unpredictability of the market. What if you buy and it suddenly drops? What if you sell and it keeps climbing?
People do this professionally. High risk, high reward.
This guy pretty much nailed it... but for the most part if you have decent charts to look at and you are paying attention to the trends that are going on with it you should be able to daytrade it fairly well... my biggest worry about that would be when i sleep. I guess this is why once you start trading crypto day to day it starts to consume you lol. you may buy it and miss the break out and then it dips big and you are down when you could have been way up. but as he said high risk high reward. Same as setting up your 401k and such. The more risk you are willing to take, the higher the reward will be. but also the flip side. the higher the risk the more poten
Its smart to trade if you can predict what is going to happen. Its just like the stock market, buy low, sell high and you will be fine. It doesn't really matter when you buy/sell as long as you follow those guidelines, just unsure of how you can guarantee anything like that.
it is so risky to invest with this big amount like this without and previous knowledge so recommended to save your money and invest with small prices
Hi,
Basically instead of only waiting for big dips to buy and highs to sell, I am talking about selling at regular high and buy it when it dips $100 lower for example many times a day.
Say you have 10 BTC, this should give you $1000 minus the fees no? So doing it many times through the day you might add a new BTC to your wealth?
Is this reasonable or is there something I am missing?
Thanks in advance.
Basically instead of only waiting for big dips to buy and highs to sell, I am talking about selling at regular high and buy it when it dips $100 lower for example many times a day.
Say you have 10 BTC, this should give you $1000 minus the fees no? So doing it many times through the day you might add a new BTC to your wealth?
Is this reasonable or is there something I am missing?
Thanks in advance.
You are missing the unpredictability of the market. What if you buy and it suddenly drops? What if you sell and it keeps climbing?
People do this professionally. High risk, high reward.
Hi,
Basically instead of only waiting for big dips to buy and highs to sell, I am talking about selling at regular high and buy it when it dips $100 lower for example many times a day.
Say you have 10 BTC, this should give you $1000 minus the fees no? So doing it many times through the day you might add a new BTC to your wealth?
Is this reasonable or is there something I am missing?
Thanks in advance.
Yes, of course you could day trade. If you have the means to be a whale, then you can do that. Basically instead of only waiting for big dips to buy and highs to sell, I am talking about selling at regular high and buy it when it dips $100 lower for example many times a day.
Say you have 10 BTC, this should give you $1000 minus the fees no? So doing it many times through the day you might add a new BTC to your wealth?
Is this reasonable or is there something I am missing?
Thanks in advance.
Hi,
Basically instead of only waiting for big dips to buy and highs to sell, I am talking about selling at regular high and buy it when it dips $100 lower for example many times a day.
Say you have 10 BTC, this should give you $1000 minus the fees no? So doing it many times through the day you might add a new BTC to your wealth?
Is this reasonable or is there something I am missing?
Thanks in advance.
Basically instead of only waiting for big dips to buy and highs to sell, I am talking about selling at regular high and buy it when it dips $100 lower for example many times a day.
Say you have 10 BTC, this should give you $1000 minus the fees no? So doing it many times through the day you might add a new BTC to your wealth?
Is this reasonable or is there something I am missing?
Thanks in advance.
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