The advantage of day trader - page 3.

ophyrim

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Quote from: pempek19 on August 18, 2018, 01:38:53 PM

Potential to make substantial profits. The biggest lure of day trading is the potential for spectacular profits.

Being your own boss. The day trader works alone, independent from the whims of corporate bigwigs.

Never a dull moment. Long-time day traders love the thrill of pitting their wits against the market and other professionals day in and day out.

Expensive education not required. For many jobs in finance, having the right degree from the right university is a prerequisite just for an interview.

Self-employment benefits: As a self-employed individual, a day trader can write off certain expenses for tax purposes, which cannot be claimed by an employed individual.

Any other opinions? Please comment And we discuss any other benefits for someone who uses day trading techniques.

- Home office work conditions: You can work from your home and whenever you want (attention this condition can also be a disadvantage for some people)

stadus

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Quote from: TitanGEL on January 25, 2019, 04:13:33 AM

One of the advantages in day trading is we can earn 5%-10% daily of our investment but being a day trader are not easy job because most of their time are monitoring the movements of the coin thay they are trading.

That will only become an advantage if you keep predicting the right price movement, but if you do the opposite, that would become
a disadvantage. Actually you will not only make that profit, you can go even more but like I said, it will only depend on how good you are, your skills matters as that what's bring money to you as a profit.

TitanGEL

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One of the advantages in day trading is we can earn 5%-10% daily of our investment but being a day trader are not easy job because most of their time are monitoring the movements of the coin thay they are trading.

cryptojac17

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Quote from: ringgo96 on January 24, 2019, 09:50:00 PM

Quote from: anume123 on January 09, 2019, 02:19:21 PM

As a daily trader it make sense that your trading is a lifetime job every minute's and hours you can earn in cryptocurrency market as well.

Their freedom of time to work and can also gather with family is a point that I think is good if we want to live as a trader maybe this is a big reason why becoming a trader

Although you have freedom of time it can't guarantee us to gain profit all the time, because not all scenario in crypto has good trading market. The advantages of being a day trader always depends on green market that many people have frequent trading activities, and their options is buying as well as selling daily.

ringgo96

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Quote from: anume123 on January 09, 2019, 02:19:21 PM

As a daily trader it make sense that your trading is a lifetime job every minute's and hours you can earn in cryptocurrency market as well.

Their freedom of time to work and can also gather with family is a point that I think is good if we want to live as a trader maybe this is a big reason why becoming a trader

juragane

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Quote from: KorakPawon on August 18, 2018, 01:53:15 PM

many of the advantages of daily traders that you designate are the right things and maybe many others that we will not be able to mention one by one. What is clear is that we use stringed capital and profit will also be obtained by the strings of all risks that occur must be resolved alone.

if we have a lot of time then daily trading obviously benefits, because we can get results from the day to day, secondly we can avoid big losses because we always monitor price movements from time to time so if prices drop then we can quickly make purchases, and if the price rises we can immediately sell and we will get profit from time to time, daily trading always provides benefits for anyone who is able to analyze prices correctly.

nydiacaskey01

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Quote from: Jhonyguy on January 24, 2019, 02:11:53 PM

day trading has many advantages but being a day trader is not easy first we should make consistent profits , if we make 100$ profit today and lose 150$ tomorrow there is no way we can become day trader
what i do is i set a weekly loss and profit and manage risks

This is so true as I experienced this when I am still using Poloniex to trade. I can earn $100 per day and I can do that in 3-5 days continuously. But I can also lost everything that I earned from those days in just a single trade because of following my emotions and not using the tools like the Bollinger band, RSI and parabolic SAR, Those tools are very helpful for day traders. It helps you see whats the next possible move of the coin.

udidrone

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Quote from: Jhonyguy on January 24, 2019, 02:11:53 PM

day trading has many advantages but being a day trader is not easy first we should make consistent profits , if we make 100$ profit today and lose 150$ tomorrow there is no way we can become day trader
what i do is i set a weekly loss and profit and manage risks

True fact

at first trade i have that experience, after profit i loss more than that. Daily trading actualy something that really need to concerned if we want to do it. Because it is not like we buy and sell and hold without analyze.

Jhonyguy

jr. member

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day trading has many advantages but being a day trader is not easy first we should make consistent profits , if we make 100$ profit today and lose 150$ tomorrow there is no way we can become day trader
what i do is i set a weekly loss and profit and manage risks

GreatOrchid

legendary

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Quote from: emmybd on January 24, 2019, 10:03:34 AM

There are many disadvantages than advantages in day trading and it is not for everybody, if you are a experienced trader then you can do it and make profits too, inexperienced traders shouldn't think about it, as you can't be successful in it.

Day trading actually goes much quick and also needs a lot more reserch than long term trading. We can rely on the coin for long term trading as the cryptocurrency markets will surely grow in the upcoming future which will bring some good value to the coin we are holding.
Similarly, short term trading needs advanced knowledge about the coin we are investing into.
Day trading can make good profits but the chances of loss is comparatively greater if you don't set a stop loss.
I personally, prefer mid-range trading along with setting a stop-loss. It gives me good profits.

emmybd

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There are many disadvantages than advantages in day trading and it is not for everybody, if you are a experienced trader then you can do it and make profits too, inexperienced traders shouldn't think about it, as you can't be successful in it.

@prashant

hero member

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It is not easy to become day trader ,your patience level should be at high and should be psychological strong.ya day trader make good amount of money but the time they devote to screen is high,it affect their eyesight as well as metabolism as you forget to sleep at night just because you are afraid of losing your fund.they have big advantage as they can make small profit and stack them to make big profit but it is not easy task.

iSamson

member

Activity: 420

Merit: 10

Intraday trading requires a significant amount of time. This should be the main occupation - in their trading decisions you have to rely on analysis, and not on emotions.

Mizarii

newbie

Activity: 5

Merit: 0

I agree with others that it is quite difficult right now to make much money in this bear market day trading. You must be very skilled, have a substantial investment, or send a lot of time and energy on it. Even then it is not really guaranteed. Like this guy, https://bitcointalk.org/index.php?topic=5101324.20 he said he wants to invest 10k into crypto right now but did not have much experience in the past, hope he doesn't lose it all. Undecided

heninur

full member

Activity: 490

Merit: 100

Quote from: pempek19 on August 18, 2018, 01:38:53 PM

Potential to make substantial profits. The biggest lure of day trading is the potential for spectacular profits.

Being your own boss. The day trader works alone, independent from the whims of corporate bigwigs.

Never a dull moment. Long-time day traders love the thrill of pitting their wits against the market and other professionals day in and day out.

Expensive education not required. For many jobs in finance, having the right degree from the right university is a prerequisite just for an interview.

Self-employment benefits: As a self-employed individual, a day trader can write off certain expenses for tax purposes, which cannot be claimed by an employed individual.

Any other opinions? Please comment And we discuss any other benefits for someone who uses day trading techniques.

when reading the benefits that you explain, trading looks very easy. whereas actually trading is not that easy, even the potential to lose all the money traded is very large, then we also have to continue to monitor price developments so that we can make the right decisions.

Victorycoin

hero member

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Quote from: Sum24 on January 19, 2019, 06:28:38 PM

Day trading is for expert traders or for those who has long term experience and they are well aware of market situations so to be a day trader try to learn more and more it has huge profits and good income. At the same time I like to be an investor as it will save my future. Apart from all this I personally get to trade for long term and invest for long term.

Exactly without proper skill and experience it is impossible to earn profit by day trading if its happen any exception that is rare and it cant be always. Maximum time day trader will be loser if any day trader trade without proper experience.

shaina_joy

newbie

Activity: 12

Merit: 0

I agree with all the pros that you listed. While I am new to this forum I am in no way new to trading and I have seen the great 2017 and thought once that trading is all gain. Come May 2018 I realized there is so much more to trading. Trading style, TA and hodling whether by choice or not Grin

What I am trying to say though is that day trading is my best opt most of the time but this require passion and time devotion.

Sum24

member

Activity: 448

Merit: 10

Quote from: Victorycoin on January 19, 2019, 09:07:31 AM

Quote from: kikoy999 on January 16, 2019, 01:48:47 AM

Day traders is more than safe than long-term trade for a long couple of day that they lossing their money by holding if the price of altcoin get dropping.

I agree with that more safer then long term investor. But at the same time long term investment waste lee time and also it can give you good profit. For example you can check history of top 10 cryptocurrency from coinmarketcap.

Day trading is for expert traders or for those who has long term experience and they are well aware of market situations so to be a day trader try to learn more and more it has huge profits and good income. At the same time I like to be an investor as it will save my future. Apart from all this I personally get to trade for long term and invest for long term.

Victorycoin

hero member

Activity: 1134

Merit: 517

Quote from: kikoy999 on January 16, 2019, 01:48:47 AM

Day traders is more than safe than long-term trade for a long couple of day that they lossing their money by holding if the price of altcoin get dropping.

I agree with that more safer then long term investor. But at the same time long term investment waste lee time and also it can give you good profit. For example you can check history of top 10 cryptocurrency from coinmarketcap.

kikoy999

member

Activity: 429

Merit: 10

Day traders is more than safe than long-term trade for a long couple of day that they lossing their money by holding if the price of altcoin get dropping.

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