To day traders, what percentage do you think is better to make as profit daily

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Quote from: Oshosondy on September 17, 2024, 09:17:38 AM

-cut-
What percentage of interest do you think would be good for you to close the position?

Quote from: Slow death on September 30, 2024, 10:01:16 AM

Day trading in this cryptocurrency market is very risky, I know that other markets are also risky, but what happens with this cryptocurrency market, particularly with bitcoin, is that it is not every day that the market rises 4% for example and falls 4% for example. Sometimes the market stagnates for many days, and what happens is that a person who has $500 for example and is day trading, this person buys bitcoin at a price of $64,000 and the price rises to $66,000, this person sells, but the price continues to rise to $73,000, with this this person ends up having less profit when buying at $73,000 and selling when it rises further. So this person will have to wait for the price to fall below $64,000 if they want to make more profit. In my opinion, it is not worth day trading in this market. The only thing that makes sense is to HODL.

Saying that one shouldn't trade in a trading section, when someone is asking for a trading advice isn't helpful imho. OP was talking about advice in investment.

But what comes to OP's question, there is no one answer to something like this. It depends on the chart volatility among other things. You might as well ask how much is your tolerance for lost trade before selling. Especially with lowcap alts, one swing trade could bring year worth of profits, so artificially cutting that out because "it's enough" doesn't seem like a solid plan. As a trader you need to be able to adapt to the chart, and take what ever you get. Just don't expect to make money every day.

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Quote from: tvplus006 on October 05, 2024, 03:44:54 AM

Quote from: Dewi Aries on October 04, 2024, 05:19:35 PM

Yes and one of the reasons why we should reduce or limit our expectations in trading is because trading is not only about profit but the possibility of loss is also always a part that you will definitely experience at any time without you knowing, these limits are very useful to minimize the possibility of emotions that usually always trigger various impulsive actions. ..

Therefore, one of the main tasks for a trader is to minimize losses, which can be achieved using various strategies. Thus, by reducing losses, we increase the profit. But it is impossible to plan a constant percentage of profit, because this is a variable value based on various factors.

Yes, that's right, we have to be able to minimize losses because that is one of the things that we really shouldn't miss every time we trade. My question is why do people ask more about how much percentage of profit can be taken in day trading? Why don't many people say how much percentage of loss we can feel? Well, from here, we can actually judge that they are very optimistic about making a profit. Optimism is a good thing, of course. However, when optimism is excessive so that you forget that there is a risk when trading, it is also not a good thing to do. We should keep a balance between thinking about profit and also thinking about loss.

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Quote from: tvplus006 on October 05, 2024, 03:44:54 AM

Quote from: Dewi Aries on October 04, 2024, 05:19:35 PM

Yes and one of the reasons why we should reduce or limit our expectations in trading is because trading is not only about profit but the possibility of loss is also always a part that you will definitely experience at any time without you knowing, these limits are very useful to minimize the possibility of emotions that usually always trigger various impulsive actions. ..

Therefore, one of the main tasks for a trader is to minimize losses, which can be achieved using various strategies. Thus, by reducing losses, we increase the profit. But it is impossible to plan a constant percentage of profit, because this is a variable value based on various factors.

True, it can be said that risk management is something that is more important to have and prepare for a trader, because as you said that when the risk of loss is reduced then there is a possibility of increased profits especially when the trader really wants to learn various things such as strategies that can increase the chances of profit, but from what I have experienced sometimes when I have a new strategy sometimes losses still occur, it is not because your strategy is wrong, but there are other possible causes which are usually the mistakes I make are because I am wrong in placing the strategy, or implementing the strategy at the wrong time, meaning when you have a strategy that you learn from someone else for example then try to adapt to the strategy first, recognize its advantages and disadvantages.

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Quote from: Dewi Aries on October 04, 2024, 05:19:35 PM

Yes and one of the reasons why we should reduce or limit our expectations in trading is because trading is not only about profit but the possibility of loss is also always a part that you will definitely experience at any time without you knowing, these limits are very useful to minimize the possibility of emotions that usually always trigger various impulsive actions. ..

Therefore, one of the main tasks for a trader is to minimize losses, which can be achieved using various strategies. Thus, by reducing losses, we increase the profit. But it is impossible to plan a constant percentage of profit, because this is a variable value based on various factors.

Dewi Aries

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Quote from: Silberman on October 02, 2024, 03:01:13 PM

Quote from: Dewi Aries on October 01, 2024, 08:28:34 PM

Exactly, I agree with you on this, you see everything realistically so we can conclude that the spot market or bitcoin is not possible to be used as a place for daily trading, especially with small capital, even with an easy amount that is equal to the price of bitcoin itself, I think it is not as easy as you imagine to get 3-5% profit considering that bitcoin is a market that has a stagnant price in the short term.

Making a profit is possible in the spot market but it is very unlikely to be obtained in short-term trading, at least per month maybe it is still possible, but very few people have such a plan, because most of them prefer to continue to increase their accumulation and hodl for years.

Traders need to decrease the expectations they have about themselves and the profits they can make, I often see them thinking about getting at least 1% in profits every day, but they do not understand that is a massive amount of money thanks to the magic of compound interest as that is 34% in profits for month or 3351% in profits each year, which is an enormous amount of money as this could allow a trader to become a millionaire in just a few years regardless of how small their capital was.

Yes and one of the reasons why we should reduce or limit our expectations in trading is because trading is not only about profit but the possibility of loss is also always a part that you will definitely experience at any time without you knowing, these limits are very useful to minimize the possibility of emotions that usually always trigger various impulsive actions. On the other hand there is always a chance to get a few percent profit, but that is not possible in the short term, we are talking about the spot market here, meaning that maximum profit will only be possible to get in the long term.

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Quote from: Faisal2202 on September 17, 2024, 10:04:06 AM

PS: I did not understand quit are you asking specifically about interest or profit?

Is asking on trading percentage for closing the position, the thing is that the percentage will come base on what you had in mind to use to establish the trading, it's obvious that in trading neither future trading, the percentage will be determined by the aggregate of financial figures you use to establish your trade

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Quote from: Silberman on October 02, 2024, 03:01:13 PM

...I often see them thinking about getting at least 1% in profits every day, but they do not understand that is a massive amount of money thanks to the magic of compound interest as that is 34% in profits for month or 3351% in profits each year, which is an enormous amount of money as this could allow a trader to become a millionaire in just a few years regardless of how small their capital was.

These calculations are incorrect, because to do this, you need to trade your entire deposit daily, which contradicts risk management and may lead to a loss of the deposit. As a rule, a trader trades in the amount of 2-3% of his deposit and, accordingly, he receives a profit from these 2-3%, and not from his entire deposit.

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Quote from: pawanjain on September 30, 2024, 11:00:27 AM

The major issue that I have faced while day trading is that I couldn't get the exact return on daily basis.
For exacmple: If I set a goal to get 2% return on daily basis then I might get it 2-3 days continuously but not after that.
There are days when I don't get the desired return for 2-3 days and that's what drives me crazy and so I don't prefer day trading.
The consistent returns are not something that works in my favour.

You are not alone in this case as you are doing daily trading you are having not all days same with things can take changes as mentioned in above many posts it's all risky we have to understand few realities which are more important.

I also try on these few times and at the end I have troubling time even mostly I have recovery but this never work as OP is asking or doing trading having serious risk factors, and we can't predict about how day will be ended for us. Here we are talking about profit as OP is already saying about trading, and he is not looking for the interest because if we are taking interest then we are having no risk and things are also smooth for us without any problem but in trade we are always on risk of losing and also having chance of getting less from our view.

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Quote from: Dewi Aries on October 01, 2024, 08:28:34 PM

Quote from: Slow death on September 30, 2024, 10:01:16 AM

Day trading in this cryptocurrency market is very risky, I know that other markets are also risky, but what happens with this cryptocurrency market, particularly with bitcoin, is that it is not every day that the market rises 4% for example and falls 4% for example. Sometimes the market stagnates for many days, and what happens is that a person who has $500 for example and is day trading, this person buys bitcoin at a price of $64,000 and the price rises to $66,000, this person sells, but the price continues to rise to $73,000, with this this person ends up having less profit when buying at $73,000 and selling when it rises further. So this person will have to wait for the price to fall below $64,000 if they want to make more profit. In my opinion, it is not worth day trading in this market. The only thing that makes sense is to HODL.

Exactly, I agree with you on this, you see everything realistically so we can conclude that the spot market or bitcoin is not possible to be used as a place for daily trading, especially with small capital, even with an easy amount that is equal to the price of bitcoin itself, I think it is not as easy as you imagine to get 3-5% profit considering that bitcoin is a market that has a stagnant price in the short term.

Making a profit is possible in the spot market but it is very unlikely to be obtained in short-term trading, at least per month maybe it is still possible, but very few people have such a plan, because most of them prefer to continue to increase their accumulation and hodl for years.

Traders need to decrease the expectations they have about themselves and the profits they can make, I often see them thinking about getting at least 1% in profits every day, but they do not understand that is a massive amount of money thanks to the magic of compound interest as that is 34% in profits for month or 3351% in profits each year, which is an enormous amount of money as this could allow a trader to become a millionaire in just a few years regardless of how small their capital was.

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Quote from: Dewi Aries on October 01, 2024, 08:28:34 PM

you see everything realistically so we can conclude that the spot market or bitcoin is not possible to be used as a place for daily trading, especially with small capital, even with an easy amount that is equal to the price of bitcoin itself, I think it is not as easy as you imagine to get 3-5% profit considering that bitcoin is a market that has a stagnant price in the short term.

Making a profit is possible in the spot market but it is very unlikely to be obtained in short-term trading, at least per month maybe it is still possible, but very few people have such a plan, because most of them prefer to continue to increase their accumulation and hodl for years.

While you may not do on spot trading and make a lot of money, I believe leverage could be used on this regard in derivative markets. You do not have to do 100x to make money, you can use as low as x2 or x5 and some days you could make a lot. There are days when it goes up 5% or 10% or go down that much as well, so you could make use of it to make some money given that you have decent TA.

Spot trading isn't really for bitcoin to USDT type of move, you will not make much from this, you need to use other coin pairs but also need to remember that even a 1-3% movement daily would mean a lot of money over a year. So spot trading on bitcoin against altcoin pair, on a course of a full year, could still be a great deal for many people, I suggest checking it out, not saying it will work 200%, but it could be fine with TA.

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Quote from: Slow death on September 30, 2024, 10:01:16 AM

Day trading in this cryptocurrency market is very risky, I know that other markets are also risky, but what happens with this cryptocurrency market, particularly with bitcoin, is that it is not every day that the market rises 4% for example and falls 4% for example. Sometimes the market stagnates for many days, and what happens is that a person who has $500 for example and is day trading, this person buys bitcoin at a price of $64,000 and the price rises to $66,000, this person sells, but the price continues to rise to $73,000, with this this person ends up having less profit when buying at $73,000 and selling when it rises further. So this person will have to wait for the price to fall below $64,000 if they want to make more profit. In my opinion, it is not worth day trading in this market. The only thing that makes sense is to HODL.

Exactly, I agree with you on this, you see everything realistically so we can conclude that the spot market or bitcoin is not possible to be used as a place for daily trading, especially with small capital, even with an easy amount that is equal to the price of bitcoin itself, I think it is not as easy as you imagine to get 3-5% profit considering that bitcoin is a market that has a stagnant price in the short term.

Making a profit is possible in the spot market but it is very unlikely to be obtained in short-term trading, at least per month maybe it is still possible, but very few people have such a plan, because most of them prefer to continue to increase their accumulation and hodl for years.

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Quote from: Faisal2202 on September 17, 2024, 10:04:06 AM

Not a day trader, but for making a good living here in my region, 10$ to 15$ are more than enough, but if I could make 10$ to $15 daily, otherwise, if I doubt the market can make me this much profit, and if I doubt myself, then I will try to take advantage of the market situation, like recently when BTC was at $54, I would have bought more than before, and the capital would be more than just 10% of $5k.

If I would have $5k and I want to do daily trading via future or margin then %10 is more than enough but if I am doing spot then its not enough especially when trading in BTC, speaking of alts $150 is not enough in spot trading to make 10 to 15 dollar daily.

PS: I did not understand quit are you asking specifically about interest or profit?

The major issue that I have faced while day trading is that I couldn't get the exact return on daily basis.
For exacmple: If I set a goal to get 2% return on daily basis then I might get it 2-3 days continuously but not after that.
There are days when I don't get the desired return for 2-3 days and that's what drives me crazy and so I don't prefer day trading.
The consistent returns are not something that works in my favour.

Slow death

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Day trading in this cryptocurrency market is very risky, I know that other markets are also risky, but what happens with this cryptocurrency market, particularly with bitcoin, is that it is not every day that the market rises 4% for example and falls 4% for example. Sometimes the market stagnates for many days, and what happens is that a person who has $500 for example and is day trading, this person buys bitcoin at a price of $64,000 and the price rises to $66,000, this person sells, but the price continues to rise to $73,000, with this this person ends up having less profit when buying at $73,000 and selling when it rises further. So this person will have to wait for the price to fall below $64,000 if they want to make more profit. In my opinion, it is not worth day trading in this market. The only thing that makes sense is to HODL.

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Quote from: mirakal on September 26, 2024, 08:36:50 AM

Managing capital is one of the most crucial skills to master in trading. Having a large capital can be advantageous, allowing us to profit more if we put our buy/sell calls right. However, it also comes with risks—everything could vanish in an instant. It is a smart strategy to choose not just one coin; I often use altcoins, which are highly volatile.

Everyone needs to start with small capital as if they can not manage small capital safely and profitable, it's impossible to manage big capital safely and profitable. With capital management, risk management is most important because if you can not do it well, you will lose your capital. With an investor or trader, or fund manager, if you lose your initial capital, it's the end.

People who manage big capital don't look for x10, x100 chance because they know risk is high too. Look at cryptocurrency market, this principle is reflected by institutional investors. They join this market with a first asset to invest money in, is Bitcoin, and if they want more, they will invest in Ethereum. They will never start investment with shit coins, meme coins.

Quote

Choosing which coins to trade should be based on their performance, so being able to analyze the market is vital. If we don’t, it could lead to losses.

Stay with Bitcoin, and if want altcoins, Ethereum. These cryptocurrencies must be first two to add in any portfolio, either trading or investment.

Top altcoins look to be safe by many of top altcoins already died, abandoned or lost a lot of value and trading volume.
Cryptocurrency Historical Data Snapshot

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Quote from: mirakal on September 26, 2024, 08:36:50 AM

Managing capital is one of the most crucial skills to master in trading. Having a large capital can be advantageous, allowing us to profit more if we put our buy/sell calls right. However, it also comes with risks—everything could vanish in an instant. It is a smart strategy to choose not just one coin; I often use altcoins, which are highly volatile.

Choosing which coins to trade should be based on their performance, so being able to analyze the market is vital. If we don’t, it could lead to losses. We need to think things through carefully and avoid rushing, as one mistake could empty our pockets. If we play our trades wisely, even with a $500 capital, we can still make some gains—not huge, but at least we earn something!

As there are countless coins and projects that we have, it is quite difficult to determine which one would give you the most profit. However, if you don't know where to start, better start from btc and other top alts. Then, you will understand how this market will behave so you know how to attack the market to gain profits from it. There will be no fixed profits that you can get from this market, you will only gain some tips and tricks along the way to improve your trading profits.

And bear in mind that closely monitoring the coins you have is actually vital as to where your profits will go. Because once the project got abandoned, and so your profits and initial investments.

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Quote from: mirakal on September 26, 2024, 08:36:50 AM

Managing capital is one of the most crucial skills to master in trading. Having a large capital can be advantageous, allowing us to profit more if we put our buy/sell calls right. However, it also comes with risks—everything could vanish in an instant. It is a smart strategy to choose not just one coin; I often use altcoins, which are highly volatile.

Choosing which coins to trade should be based on their performance, so being able to analyze the market is vital. If we don’t, it could lead to losses. We need to think things through carefully and avoid rushing, as one mistake could empty our pockets. If we play our trades wisely, even with a $500 capital, we can still make some gains—not huge, but at least we earn something!

If you are already that having the skill and knowledge on how to handle up a certain capital on which you do already able to calculate out on how much you should really be putting up on a certain trade
and make out some target profits into it, then it does really shows that you are already that knowledgeable towards trading on which we know that not all would really be able to obtain out such situation.
Profitability will really be that varying on how well you do make yourself having this kind of approach on which we know that targets and goals will really be that different to each other on which
there would really be those traders who would be setting out bigger % and get contented with that and there are ones who do playing it a bit safe on getting a smaller profit margine as long
it would really be that something positive then this what matter the most or would really be counting on. It will really be just that depending on you on how you will really be handling up yourself
when it comes into this condition or situation on which it will really be that something that differ into those people who do deal up with this volatile space.

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Quote from: mirakal on September 26, 2024, 08:36:50 AM

Managing capital is one of the most crucial skills to master in trading. Having a large capital can be advantageous, allowing us to profit more if we put our buy/sell calls right. However, it also comes with risks—everything could vanish in an instant. It is a smart strategy to choose not just one coin; I often use altcoins, which are highly volatile.

You are trading altcoins is the reason that you think your coin can vanish at once. Altcoins are very volatile and riskier. I prefer to trade bitcoin. If you go 1x leverage with bitcoin, your money can not vanish at once. Most altcoins are shit coins when it comes to trading.

Quote from: mirakal on September 26, 2024, 08:36:50 AM

Choosing which coins to trade should be based on their performance, so being able to analyze the market is vital. If we don’t, it could lead to losses. We need to think things through carefully and avoid rushing, as one mistake could empty our pockets. If we play our trades wisely, even with a $500 capital, we can still make some gains—not huge, but at least we earn something!

I will prefer to use $500 on bitcoin instead of those altcoins. If the market really dump hard, I can then decide to go with altcoins with maybe $100.

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Managing capital is one of the most crucial skills to master in trading. Having a large capital can be advantageous, allowing us to profit more if we put our buy/sell calls right. However, it also comes with risks—everything could vanish in an instant. It is a smart strategy to choose not just one coin; I often use altcoins, which are highly volatile.

Choosing which coins to trade should be based on their performance, so being able to analyze the market is vital. If we don’t, it could lead to losses. We need to think things through carefully and avoid rushing, as one mistake could empty our pockets. If we play our trades wisely, even with a $500 capital, we can still make some gains—not huge, but at least we earn something!

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Quote from: Oshosondy on September 17, 2024, 09:17:38 AM

What percentage of interest do you think would be good for you to close the position?

The issue of profit depends entirely on the trader himself. There are some who like to take risks who also have enough money. Then there are some who like to take risks even if they have limited money. There are some traders who are not willing to take the risk even if they have money. But generally what we realize is that if an investor can make 10 percent profit from his trading then that should be enough. Personally though I have not been day trading recently but when I get 7-10 percent profit from my investment I take the decision to close my trading. There are many traders who lose their wealth due to excessive greed despite getting a good profit. So trading should be conducted with limited demand then the amount of profit increases.

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Initial fund 5k$ is big amount so 500$ is enough fund for day trading, but if your total fund is 200$ when 10% will be very low. Making profits in daily trading it's so difficult, beginner can not make profits in day trading, when will try to make profits they make mistake and bias trading. Also it can not be predict what percentage in experienced traders.

Topic: To day traders, what percentage do you think is better to make as profit daily (Read 674 times)