To day traders, what percentage do you think is better to make as profit daily - page 2.

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Quote from: tbct_mt2 on September 18, 2024, 10:46:40 PM

The liquidation map shows that 100x leverage is most vulnerable to market liquidations in both sides, up or down, Long or Short.
https://www.coinglass.com/pro/futures/LiquidationMap

it depends on the strategy, some people like to do 100x leverage but significantly lowering their margin and put large stop-loss which sometime exceeds 1000% because the margin is low, maintaining such low margin is easy even if market turning worse.

usually the people that used 10x leverage are people with big enough margin and also want to boost their profit so it's understandable that majority of people prefer 10x, moreover using 100x is scary event though with proper trade, we can prevent too much loss, I personally though always use 2-5x leverage, so if market crashes, I can just wait it out, since the liquidation price aren't too thin so my money is safe.

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Quote from: adaseb on September 18, 2024, 06:59:12 PM

I think Arthur Hayes, the CEO of Bitmex, said that although they have 100x leverage, most traders actually only used like 10x or 12x or something like that.

Because when traders go too extremely with 100x leverage, they are no longer traders but already become gamblers. Your memory works like charm and the report from BitMEX says exactly like your memory.

50% of leverage users don't go more than 13x leverage and 60% of leverage users don't use leverage higher than 20x and only 30% of users go with above 30x leverages while 5% of them use 95x+ leverages for Long positions. Nearly similar figures for traders with Short positions and leverages.

BitMEX Leverage Statistics, April 2019

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Most traders use 10x leverage due to counterparty risk. Say they have $1,000,000 in capital, they rather just deposit $100,000 to the exchange and use 10x leverage and just deposit/withdraw as the trade moves against/towards profit and they only can lose $100K if the exchange goes bust.

The liquidation map shows that 100x leverage is most vulnerable to market liquidations in both sides, up or down, Long or Short.
https://www.coinglass.com/pro/futures/LiquidationMap

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Quote from: Oshosondy on September 17, 2024, 10:17:38 AM

Let us say you have $5000 in your account. You only move $500 to an exchange for day trading which is 10% of your money. I think many traders can use 10% for trading, although they can lose it if because trading is very risky.

You use 1x for bitcoin or less than 1x by not using all the $500 to trade at once. Let us say just $150 for altcoins.

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

I think Arthur Hayes, the CEO of Bitmex, said that although they have 100x leverage, most traders actually only used like 10x or 12x or something like that.

Most traders use 10x leverage due to counterparty risk. Say they have $1,000,000 in capital, they rather just deposit $100,000 to the exchange and use 10x leverage and just deposit/withdraw as the trade moves against/towards profit and they only can lose $100K if the exchange goes bust.

I think this is the real reason why people use leverage, mostly to counter any risks of the exchange going insolvent.

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If you are day trading with that amount, in order not to put your fund it too much risk, it will be better to only enter a position when you see a very good opportunity, so 30% 40% profit from the position is ok. But sometimes what can actually determine if you will end the trade or not is if the signal is very strong in the direction of your position, then you will have hope they you can leave the trade for some time and take profit around 60% above.

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5-10% is enough for day trading, it's just that for me this is difficult, especially in spot trading, the percentage profit is still difficult for me, unless futures trading can set that profit, it's just risky.

I just want to trade all at once instead of dividing into several positions, so the usual daily profit will be commensurate... I know some people have different strategies... that's the experience where I always trade in 1 altcoin and wait a few days to see the profit in spot trading.

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Quote from: Oshosondy on September 17, 2024, 10:17:38 AM

Let us say you have $5000 in your account. You only move $500 to an exchange for day trading which is 10% of your money. I think many traders can use 10% for trading, although they can lose it if because trading is very risky.

You use 1x for bitcoin or less than 1x by not using all the $500 to trade at once. Let us say just $150 for altcoins.

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

It is better to look at profits in terms of years instead of days, a very good trader can earn up to 10% per year, if we add the volatility of this market we could increase that amount up to 20% without the use of leverage, this means a monthly profit of just 2.2%, remember your profits compound if you keep trading with them, so you can imagine how low the daily profit from a day trader can be and how much lower it could be when you think about it in terms of each individual trade.

Oshosondy

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Quote from: Poker Player on September 18, 2024, 09:49:10 AM

The question is nonsense.

It is not nonsense. I have noticed that there are many times I will be making money already but later the trade will go against me and I will be losing. I think setting percentage profit to it will be better than to be greedy. What percentage is enough for you daily which you think you are capable of making profit than losing.

Quote from: shield132 on September 17, 2024, 12:36:09 PM

A trader cannot make a profit every day, but it is understood that the OP is asking for the average daily profitability, that if I earn 6% one day and lose 4% the next, the average profit is 2%.

Even so, any average profit of whole digits is unrealistic. Those who respond here are either not traders or they count days of gains but not losses.

You have explained what it means as daily profit and later contradict yourself by saying it is not possible. It does not mean earning daily from trading but if you calculate your trading profit in long term like a year, that what amount would it be in percentage. This is a good question.

From what I have read from many sources, it was said that those that make profit of 5% annually are likely not to lose which is around 0.0137% daily. That amount is kind of small.

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The question is nonsense.

Quote from: shield132 on September 17, 2024, 12:36:09 PM

You can't imagine how much money you'll earn in the end if you aim only 2% every day. I even created a thread about this case with the daily investment compound calculator.
Let's say that you have 1000$ and aim to profit 2% of your investment per day but you reinvest everything and earn 2% of the total capital. With 1000$ and a daily 2% profit, you'll gain 1,377,400 million USD.

Here's the thing, setting a daily percentage, however low it may be, when compounded gives you exponential returns.

Quote from: _act_ on September 17, 2024, 02:39:40 PM

This looks very easy but it is far from reality. A trader can not be making profit everyday from trading.

A trader cannot make a profit every day, but it is understood that the OP is asking for the average daily profitability, that if I earn 6% one day and lose 4% the next, the average profit is 2%.

Even so, any average profit of whole digits is unrealistic. Those who respond here are either not traders or they count days of gains but not losses.

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Usually, I take 5%-7% for trading but if market condition is not good, maybe I will reduce to 3%. I will prefer to test the market before I put more money in trading. That is for spot trading.

In future trading, I can only use 1% to trade from my total money because I don't have much skills in analyzing the market. I don't mind if the profit is not big but if I can trade over and over, my profit will become big. That will be good for me as the risk to lose the money is not too big.

For trading altcoin, I will do the same 1% in future trading. But in spot trading, I will use 3% as altcoin seems more difficult for me to analyze and select the coin.

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Quote from: Oshosondy on September 18, 2024, 03:06:44 AM

Quote from: Barikui1 on September 18, 2024, 02:50:57 AM

Well due to how complicated trading is, it wouldn't be fair if I give you a direct answer because everyone don't have the same level of greed, you know that we are all humans and we all have our different troubles and financial needs, and I believe that it's one of the reasons that makes us to be greedy at some point, that instead of running away with our gains, we will be wanting more, and in the process we lose all our gains and even our capital sometimes, so It wouldn't be ok if I just give you a direct answer, because in as much as 10 dollar daily will be very much ok for me, it wouldn't be that ok to most people, because 10 dollar in most countries is just too small, while in some countries, it's huge, so your daily target depends on many factors.

Someone trading and thinking of making money for financial needs is not good at all. Someone should trade because he has time to trade but the person should earn from other places and not depend on trading. Money can be made from trading but trading is very risky. Which is the reason we should not see it that way.

Quote from: Barikui1 on September 18, 2024, 02:50:57 AM

So to answer your question, I would say to you that it should be determine by your level, which I don't know, because 10 to 20 dollar daily might be enough for me, but it might not be enough to you, due to your location, so it's all depends on your location and your level of greed.

I asked if percentage and not the exact money because I want to know the extent of risks some traders can go.

Ok, if it's by percentage, then I believe that 5% of your initial magin is very much ok daily.

Oshosondy

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Quote from: Barikui1 on September 18, 2024, 02:50:57 AM

Well due to how complicated trading is, it wouldn't be fair if I give you a direct answer because everyone don't have the same level of greed, you know that we are all humans and we all have our different troubles and financial needs, and I believe that it's one of the reasons that makes us to be greedy at some point, that instead of running away with our gains, we will be wanting more, and in the process we lose all our gains and even our capital sometimes, so It wouldn't be ok if I just give you a direct answer, because in as much as 10 dollar daily will be very much ok for me, it wouldn't be that ok to most people, because 10 dollar in most countries is just too small, while in some countries, it's huge, so your daily target depends on many factors.

Someone trading and thinking of making money for financial needs is not good at all. Someone should trade because he has time to trade but the person should earn from other places and not depend on trading. Money can be made from trading but trading is very risky. Which is the reason we should not see it that way.

Quote from: Barikui1 on September 18, 2024, 02:50:57 AM

So to answer your question, I would say to you that it should be determine by your level, which I don't know, because 10 to 20 dollar daily might be enough for me, but it might not be enough to you, due to your location, so it's all depends on your location and your level of greed.

I asked if percentage and not the exact money because I want to know the extent of risks some traders can go.

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As a day trader myself I have different approach, I like to just fill my cross margin account with some balance and only use 1-2% of it for trading on leverage, for example if i fill my account with $500 I'd only use $5 to trade on high leverage with reasonable stop-loss, then gain high percentage of return, if ever market turning for the worse I will only lose 1-3% of the margin account balance and can always make up for it in the next trade with high RR trades.

This helps me a lot in managing my money and not to overtrade, overall really simple account and risk management on my side using this strategy, and the profit that I seek each day is probably just 2-3x of the risked capital which means 2-3% sometime in a really active market it can shoot up to 10% profit of entire margin account, do it repeatedly for prolonged time you can grow your entire wealth. this strategy scales easily with big capital.

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Quote from: Oshosondy on September 17, 2024, 10:17:38 AM

Let us say you have $5000 in your account. You only move $500 to an exchange for day trading which is 10% of your money. I think many traders can use 10% for trading, although they can lose it if because trading is very risky.

You use 1x for bitcoin or less than 1x by not using all the $500 to trade at once. Let us say just $150 for altcoins.

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

Well due to how complicated trading is, it wouldn't be fair if I give you a direct answer because everyone don't have the same level of greed, you know that we are all humans and we all have our different troubles and financial needs, and I believe that it's one of the reasons that makes us to be greedy at some point, that instead of running away with our gains, we will be wanting more, and in the process we lose all our gains and even our capital sometimes, so It wouldn't be ok if I just give you a direct answer, because in as much as 10 dollar daily will be very much ok for me, it wouldn't be that ok to most people, because 10 dollar in most countries is just too small, while in some countries, it's huge, so your daily target depends on many factors.

So to answer your question, I would say to you that it should be determine by your level, which I don't know, because 10 to 20 dollar daily might be enough for me, but it might not be enough to you, due to your location, so it's all depends on your location and your level of greed.

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Quote from: Oshosondy on September 17, 2024, 10:17:38 AM

Let us say you have $5000 in your account. You only move $500 to an exchange for day trading which is 10% of your money. I think many traders can use 10% for trading, although they can lose it if because trading is very risky.

You use 1x for bitcoin or less than 1x by not using all the $500 to trade at once. Let us say just $150 for altcoins.

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

$500 is a good capital for any one to trade with, personally I like to use 5 of capital for a trade, many will say it is risky but that’s my trading plan. Now considering you’re asking where to close a $150 trade in profit, I don’t close trades base on the profits they get I am a trader that usually prefers my trading to close at my intended take profit or closes when I see a market shift due to My strategy is is to take my profit to where it was initially set, my RR ratio is always a 1:3 and when this trade reach this target and the analysis shows that the coin can move more than my initial target I usually lock my profit at the take profit and allow it to move further.

As for maybe setting a daily target of profit i don’t usually think it is a good idea to have daily targets it only makes you more greedy to trade more to achieve your target which often leads to over trading, a monthly target could even be better. So for a $150 trade a 3rr will be better to me

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3%-5% is great I think. That's if you are lucky. People usually chase 10-20% gains and that's why they end up being losers because they don't know when to say enough. Still though, I'd rather do the hodl stuff because trading is pretty stressful. If you get trapped on the wrong side of the trade, you'll have to wait for some. That's why day trading doesn't make much sense to me. You can wait 2-3 years on the same position and can make much more than trading.

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Quote from: Oshosondy on September 17, 2024, 10:17:38 AM

You use 1x for bitcoin or less than 1x by not using all the $500 to trade at once. Let us say just $150 for altcoins.

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

Day trading is for the professional traders because they have the experienced which beginners like myself do not have. I do not trade daily but if I was a day trading, I will be comfortable with a profit of 3-5% daily depending on the capital that I am using to trade. Altcoins market are so fun to trade because they get very volatile and can give you an opportunity to make alot of profits or losses depending on how well you analyzed the market and your luck. You can not lose that much when you use stop loss so it favours anybody that knows how to trade. Trading altcoins, an interest of 5% minimum is what it will take me to close the trade. I do not trade futures therefore I am speaking about spot trading and if the market does not go according to my prediction, I will just hold until I get a good profit before selling.

_act_

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Quote from: shield132 on September 17, 2024, 12:36:09 PM

You can't imagine how much money you'll earn in the end if you aim only 2% every day. I even created a thread about this case with the daily investment compound calculator.
Let's say that you have 1000$ and aim to profit 2% of your investment per day but you reinvest everything and earn 2% of the total capital. With 1000$ and a daily 2% profit, you'll gain 1,377,400 million USD.

This looks very easy but it is far from reality. A trader can not be making profit everyday from trading. There are good days while also there are bad days. Day trading is also very risky. It is a bad way to trade for most traders.

Quote from: shield132 on September 17, 2024, 12:36:09 PM

Btw I personally prefer a different approach. I suggest you catch only the best moments and should not prioritize daily trading. By doing this, I manage to sometimes get as much as 40% profit and even 100% profit but I am also a victim of FOMO and sadly I'm not on a level where I won't follow FOMO. If you get 40% profit even 10-12 times in a row, you'll gain a huge profit and that's a very achievable dream.

This is a better approach. To be patient is better than day trading. Day trading will take money from most traders that give.

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Quote from: Oshosondy on September 17, 2024, 10:17:38 AM

Let us say you have $5000 in your account. You only move $500 to an exchange for day trading which is 10% of your money. I think many traders can use 10% for trading, although they can lose it if because trading is very risky.

You use 1x for bitcoin or less than 1x by not using all the $500 to trade at once. Let us say just $150 for altcoins.

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

You can't imagine how much money you'll earn in the end if you aim only 2% every day. I even created a thread about this case with the daily investment compound calculator.
Let's say that you have 1000$ and aim to profit 2% of your investment per day but you reinvest everything and earn 2% of the total capital. With 1000$ and a daily 2% profit, you'll gain 1,377,400 million USD.
Btw I personally prefer a different approach. I suggest you catch only the best moments and should not prioritize daily trading. By doing this, I manage to sometimes get as much as 40% profit and even 100% profit but I am also a victim of FOMO and sadly I'm not on a level where I won't follow FOMO. If you get 40% profit even 10-12 times in a row, you'll gain a huge profit and that's a very achievable dream.

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Quote from: Oshosondy on September 17, 2024, 10:17:38 AM

You use 1x for bitcoin or less than 1x by not using all the $500 to trade at once. Let us say just $150 for altcoins.

I don't use leverage because when I trade, I only trade in Spot. Without leverage, I can not open short positions but I don't mind about it. I can use my own money, wait for price change and buy to get profit from price bounce. It means I use my own money to trade with Long position, but saying Long position is not too accurate as Long is for leverage trading. It is more accurate to say, I only trade by buying low, selling high, in Spot trading.

Quote

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

I don't expect to get more than 3% to 4% daily because price usually does not change more than 3% or 4% so many times within 24 hours.

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Quote from: Oshosondy on September 17, 2024, 10:17:38 AM

Let us say you have $5000 in your account. You only move $500 to an exchange for day trading which is 10% of your money. I think many traders can use 10% for trading, although they can lose it if because trading is very risky.

You use 1x for bitcoin or less than 1x by not using all the $500 to trade at once. Let us say just $150 for altcoins.

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

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?

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