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I got 20 years in stocks trading and 5 years in Crypto, trust me that you don't want to do day trading you will end up losing all your money

Trading is not for everyone. Just like you, you should have now understood that trading is not for you. You can be patient and just hold which would help you than to be trading and continuing losing. But that do not mean that some people are not making profit from trading.

7 years in stocks 5 years in crypto and I can say that it is possible to make money from day trading in the long run but its not worth the effort. You will waste a lot of time, your head will turn gray,
trouble sleeping, trouble with stress, you will get sick (neurosis, stomach ulcers), family problems. All of those to barely (or not) outperform wide market in long run. Its much better to enjoy life and symilar returns with well balanced portfolio and medium/long term trades.

i appreciate you have a very long experience in trading.
but keep in mind sometimes someone has other skills such as looking for daily profits with all the analysis they have had for a long time like you. so those who want to day trade or seek daily profit are unlikely to lose their money.
it is actually a long term investment that would be better but sometimes a trader is different and almost some % they will look for daily profits when a bearish situation is hitting the market

If you've been in that space for that long, sincerely you should've figured out what really works for you and it seems day trading isn't your thing but it is fr some other persons who possibly might be living their dream lives off day trading as their paramount source of funds.

I have been trading synthetic indices on derivGo app and I could gladly say I made some cool cash daily from it and if you ask me, I would always recommend derivGo, for anyone who want to day trade not as if I'm running an affiliate for them but for the simplicity and ease to deposit and withdraw funds as well as there transparency. So I would say that day trading isn't a waste of time

Hahaha, false. This is up to you. I know some OG on trading stocks or forex and then they start trading cryptocurrency too and they are doing day trading. They are also profitable. They are not always winning but I know it's normal, there's no 100% guaranteed when you trade.
As long as you have good risk management, it will not matter how you trader, even scalp trader you have, as long as you are not greedy, it's all good.

That's why most of people are losing in trading especially if they're doing day trading. Each day will have different market condition, also with a unexpected rumors like crypto ban or the most popular exchange got hacked etc, which will make the market will suffer short dump. You have no choice instead of cut loss, if you're doing cut loss too often you wouldn't earn more.

But if you do 2-3 days or a week trading, I don't think it's will be profitable than just holding Bitcoin alone.

I think that's part of the risk of trading and that's why it's important to do some research and analysis,
in trading we cannot completely avoid losses and it is difficult,
we can only minimize the risk

It depends how you will treat the trading because it is good if you have a trading plan like make a trade if you get well because emotional and decision making there's a change of the outcome upon executing of the trade. Some people make a weekly.trade and day trade. I prefer with the weekly trade because currently the market is not.too much volatile in the crypto but in economic and stocks may varies to make a day trade.

If you feel like you're not a good fit for trading (stocks and crypto), you may not be right in this environment.
believe me, you can imitate the way people make money. but everyone has a different place and sustenance.
when you are not fit to trade, why not invest long-term? have you tried it? if you have tried and feel you are still out of luck in the crypto market. I suggest getting out of the market and trying to do something else with the rest of your money. maybe you get your luck elsewhere.

I have friends in real life that have just been into trading because of NFT/P2E games and I've told them the same thing. I've traded many times and luckily some in profit and some in losses.

But with what I have understood and realized about trading, you don't have to do it daily and just do the usual trading of buying now and wait until it pops and makes you a profit.

Anyway, they want to learn about day trading, charting, technical analysis and stuff. It's on them, they can apply all of those and choose to day trade but I've told them that when they experience the same thing as mine, they'll have to calm down.

I think not all traders have the same experience you have. I saw some friends who were successful with day trading.
there may be something wrong with the analysis or technique you use. the time you spend in the market is not short. it should be enough to give you experience.
if you have spent too much capital, I suggest you get out of the market for a while. trying to figure out what went wrong with your trade.

Yes I think what you said is absolutely right. If any experienced people make this kind of mistakes very less they invest after seeing the price of the coin they are going to invest in. But there are some new traders who have no idea about trading.  Buy coins without understanding anything and lose their money. I think before trading you should have good experience and then trade.

Depends!

There are people who you do called daytraders! Despite of volatility then they could able to sustain and make themselves that profitable.Yes,its never been easy considering and looking just on the
volatility of this market then you could really tell that dealing up with it on active manner does really require good skills.

Even myself did try to have that daytrade but turns out to be that hard considering that main enemy on here is your emotion because of those fast fluctuation of price.
If you cant bare out that particular thing then its better to stick to spot.

That is the reality for most traders, there are a few people out there which can become successful day traders but their numbers are very small if we compare them to all the people which try their luck on this.

It is better for those which are just coming into the market to take things slow and just become long term holders, and after they get to learn more about this market then they could begin to swing trade, but at that point they may have learned so much about the market that their dreams of staring at a screen and trying to earn money that way would be no more.

looks like the OP has not mastered the problem or indeed he does not have good self-control in day trading. although long enough in the crypto market to trade, the reality does not guarantee one becomes a pro trader.
if not suitable for day trading it would be better to be a long-term holder. the market has shown asset holders to be more profitable. even just need to be patient and not panic. looks simpler and easier to do than day trading. looks like the OP should give it a try.

your experience is really very long and it is proven that trading on a daily basis especially in the futures market will indeed drain capital,
because indeed it also happened to me after trading on the Binance futures market from $100 to $500 and ended up losing all my capital ran out due to liquidation,
it's a pity isn't it? my advice is better invest in the spot market.

Well, obviously if you've been in the market long enough, you know that in the downtrend and bear market, you'll likely be fucked twice as hard. That is why anyone who said they could earn a decent profit any day, any time from the market even when it was full of bears, they are a liar. So being a day trader/day trading at this time means you picked the worst possible route. Most traders don't get it but they were carried by when the market is in bull mode.

Exactly my thought. If being an investor works for you, stick to it but if trading works for you, go ahead and trade. Just like me, I know trading is not my thing 😅

You can make money in any kind of trading that you are into not withstanding the volatility or any thing else. Day trading doesn't require you to go so long to pick all long profit but what you require is to take out profit as you see them. The problem with day traders is they stay longer in and at the end lose all that they acquire on that trade.

To do daily trading, one way is if with small capital only through futures trading,
but it must also have good risk management, because we know that the futures market is far more terrible than the spot market.
and if you have a large capital, then my advice is to play in the spot market is very good, you can trade on the spot market binance,
because there are so many choices of altcoins and of course the large volume makes trading more fun.

Bearishness has been going on for a long time in the cryptomarket at the moment. During this time it is very difficult to make profit by day trading. Where the market is passing through a downtrend. But those who are willing to take the risk this time are doing well. In particular, It is better if you sell your assets by making small profit. Because day trading is riskier than other platforms.

I guess, traders are still making money from day trading in this bear market that is making long term traders not to sell than to hold till the bull market rollover. But at the level I am now, I don't think I will engage myself in day trading because the profits you will earn at the end of the market is not encouraging compare the massive profits you will earn from your long trading, if you can exercise patience with the market price.

if seen from experience means that you are an experienced trader because you have spent a lot of time on the market. but in my opinion there are 3 factors that influence a person's success in trading, namely 70% psychology, 20% money management, 10% technical analysis. after that we can ask ourselves whether there is a mistake in us to master these three things, I think there is no difficulty for technical analysis considering the length of time dealing with the market. Short-term trading has the advantage that we can take advantage of opportunities repeatedly in a day, so it is possible to get profits repeatedly, but it does require high skills

I guess it depends on your interest in learning to trade so you can find your way in trading. If you can learn to trade and continue to practice the lessons while trying to find the right way, I think you can benefit.

In addition, if you are still in the learning stage, you should be able to control the amount of money you use to trade so that it will not cause you to lose all your money. Trading is difficult but it depends on how we manage it.

Managing psychology is also an important thing in trading and sometimes some people don't really care about it,
to trade daily is not something easy because it requires a lot of things,
maybe you can try to adjust the psychology of trading

Day trading is a bit riaky i think but if you are going with the spot for this time that can be non risky but still you need to understand that for now market is like Confused 😕 so this is how market moves and for 1 day i am sure you are not able to make good profit except for good luck ahhh Future Trade is another thing but its Highly Non Recommend.

It's day trading so there's always a stop loss so even spot trade can make you lose or even lose all your money. We are trading, not holding, so not placing a stop loss will leave us with a very long capital captivity, which is something many traders don't want. Day trading is really stressful and stressful in addition to having to sit for hours at a computer, you are also under pressure to make a profit every day, that will sometimes make you too stressed and easy to make wrong decisions.

You can't assume that everyone who has been trading will have the same strategies and decisions.
In fact, it was a choice whether you embrace day trading or not, but it doesn't mean that if you will not doing Day trading you will lose( if that is what I understand).

For 25 years in trading, I could say you are an expert in this and maybe you are rich already assuming that you are in Day trading and earn a profit every day. If that is so, then you will tell us that spot trading and any form of trading aside from Day trading are useless?

You have much experience in trading and day trading favour all this while,  that doesn't mean day trading will still be same experience like yours. Their may be reasons why day trading didn't favour you.

Trading can't be for everybody because some persons may be doing the right thing when it comes to trading. Trading has its rules and if this rules can be followed their wont be much difficulties. Factors that affect day trading is too much greed, no knowledge and discipline.

Day trading may not be suitable for everyone and also it is not possible to be consistent in the day trading still it can be profitable when someone uses the stop loss feature and understand the market movements with the technical indicators.

If you are going to try day trading then there are some points has to be kept in mind like don't invest all your crypto capital for day trading just 10 to 30% of your total capital into the day trading and also keep the margin low as much as possible like 2% maximum and lesser trades so the frustration can be reduced a lot.

But at some point if you realize that you are losing more than your are making then just stop day trading and move to long term or just HODL.

This looks not a serious advice by person with 20 years experience on stocks trading since traders on stock frequently do day trading for a living. Besides a real pro traders sets there profit and stop loss in every trade that they made daily so it's impossible for them to everything for just doing it. An experienced trader will always be disciplined and follow his trading rule book on all his trades.

I’m not suggesting day trading is good but it's not bad either if you knew how to properly execute it.

There are no proper words to describe this situation. If we do spot trading, it may be safe but also at risk of surviving long enough to withstand losses if the market does not improve. While futures trading is very promising but if you do not understand technical analysts it can be a boomerang that is detrimental to you.

Didn't you consider that it's just not for you? Because for some it works out just fine.
It's not impossible, it can be done. You had the experience you say, I bet you did it too and there are some moments of making profits too.
We have different approaches when it comes to trading.
For me though, it's the large capital needed to feel the profit. This ain't a recommended strategy for starters.

That is why the majority of traders lose money, especially day traders. Each day's market conditions will be unique, and unanticipated rumors like a crypto ban or that the most well-known exchange has been compromised, among other things, will cause a brief crash in the market. Cut losses are your only option since if you do them too frequently, you won't make additional money.
However, I don't believe trading for more than a few days or a week will be more profitable than simply holding Bitcoin by itself.

Without having good analytical skills, you will not be able to make daily trades because market movements or volatility will continue to change and will not be the same. Maybe you can follow the market, but perhaps you will have difficulty making a profit. But if you have that ability, you can make day trades and earn profits. This will be a challenge for those who want to do day trading because the market constantly changes and requires them always to learn to analyze.

Day trading is not everyone's cup or tea. Those who have been a pro at day trading will continue to be so, personally I never feel comfortable with it and hence I stick to mid/long term trading which is a slow drawn process but profitable.

To many people day trading does not work out, and there is nothing bad to it, just that if it is not working, then you should be ready to stop doing it. Trying to get back on your losses makes the entire process nothing different from gambling.

I hope the OP made the proper move and took to what they found as profitable. It is not always good to follow what a pro person tells you, rather listen to what your heart says about the same and assess yourself how much good you are at it.

Profit or loss is the part of trading and no one can get profit only. Day trading is a good way to generate profit but we should not expert profit every single day. Besides, we should not expect more than 20% profit from a single trade. Holding Bitcoin and day trading both are different to earn profit.

Yes, carry out your personal analysis will really help you to avoid losses in your crypto trading either day trading or long term trading, because there are some coins that are not favourable to invest in this bearish season, but if you invest on them you will not have something good to make at the end of the trade. For you to be part of those that will smile in the future, you have to make a right choice by investing on Bitcoin and Ethereum in this bearish season so that you will not experience failure in your income. I think, many traders are still making money from crypto day trading because they always apply their own analysis to ensure they achieve income at the end.

I am a day trader. and I'm fine. even I can still benefit from my day trading. although there are sometimes 1 day where I experience a loss. but that can be minimized by already setting up a stop loss with calculated losses. but day trading is not something that can be taught to everyone. because it requires patience and careful observation. and indeed not everyone can be a day trader. because believe me daily trading is more emotionally and mentally draining you. and people who lose in controlling their emotions and mentality will lose. and most day traders lose more because they don't know when to enter and when to exit. because we cannot enter the market every time. but beginners always want to enter the market whenever they want when opening the market. and this type of person will usually experience more losses in their daily trading.

So investing for the medium and long term then it's better for those who can't keep their mentality and really want to keep their emotions stable. such as using the DCA method.

Regarding that, every trader must have felt a loss too because in trading no one is always profitable,
Before starting to trade daily we need to learn everything because the risk is quite large and not easy for sure,
there are lots of potential coins and use them to make a profit

I think your are wrong, not all day traders always lose money, I know day trading is kind of risky, you should be a professional trader before you can be a day trader, because it's involves doing some technical analysis before buying a coin, but lot's of people still make money from it. We all know you can't be making profits always their will definitely be lost sometimes but you won't lose your money completely and your profit should always be more than your lost. If you don't really know much about trading then it's better you avoid day trading, if you don't know much about trading is just better you buy and hold, HOLDING those not require serious technical analysis, just buy and hold for long term, also if you are investing always make sure you invest in bitcoin to be at a safer side.

Honestly trading is risky and is a game with rules and requires a lot of understanding of the market to be profitable. I was once in your shoes at some point in my trading journey, almost lost everything until I developed a working strategy, this is why they said 95% of traders loose money in trading.
One big lesson or rules I learnt during all those period was decipline, risk management, not being greedy ,patient with your trading set ups and never Chase the market, it's better to miss a trade than to loose a trade because there will always be next opportunity in the market.

Seem your were a victim of these rules or maybe trading is not meant for you!.

To me when talk of trading what is the next thing that comes into your mind?
Most people says is to make money from whatever you have used to start up the trading journey. But to me is something you have spare to risk and also to multiply, this can only happens if you make a proper research on effective trading and how to minimize risk while trading this includes; funds management, when and how to enter trade, types of trade, lot size and time frame. Though I m just giving a rough answer but to those who really wants to go into it as a course or career should pay more attention before jumping into.
Anyone who is anxious to make profit can not make a good trader because he is focusing only the profit aspect of it.

I know day trading is really risky, am not a day trader because I know is kind of risky, but to be honest I don't agree with you saying 99% of day trader's always lose their money, you losing money or maybe you knowing people losing money those not mean you have to generalize it, as I said I know some people that are day trader and they are making money from it, am not saying they are not losing money, but at the end jf they calculate their profits and lose, their profits is always far more than the amount they lose, which I think is normal. If you are a day trader and you are losing money frequently then I will advise you to stop, you can definitely change your pattern, but to be honest with you, their are still lot's of day trader's making money, you might just don't know them.

Day trading is still a promising source of income for some people, because if we have good research and analysis skills, then we can make money
from day trading. As you said, indeed we will experience losses when doing day trading, but as long as the amount of profit generated is greater than
the losses experienced, I think day trading is still worth doing. If we try day trading and lose all our money, it means we still don't have good
analytical skills, therefore most of the decisions taken are wrong. If we feel we do not have good analytical skills, it is better to avoid day trading
for a while. And just focus on long-term investment in top coins, such as buying BTC, ETH and BNB for us to hold in the long term is much easier to do
and the possibility of making profit is also much greater.

OP meant to say was day trading isn't profitable in the long run, you may be earning today with your day trading skills but once the cycle of market change then that's the time you will start to question your ability in day trading. That's why OP said that 99% of his trade aren't successful(getting profit). There are different types of trading strategy and you use the best strategy that would be able to give you more profit than your previous trading strategy.

But it is not exactly correct that day trading is not profitable. Just like you later in the post you said to use the best strategy and I think that is what is important to do. Look into the best strategy that you are consistently making profit then build upon it and continue taking your profit from the market. The market is always there and willing to give us profit if we do the normal thing but we are just humans , sometimes we fall but we need to rise always.

Leverage trading means you need to be good at that moment, not later on, not a week later, not a month later, you need to profit at that exact moment to make money. If it goes down even 1%, that means all of your money could be gone, but if it goes up 1%, then you will make a lot more than that, maybe double your investment.

This is why it’s so important, and why it matters so much. I personally do not care about the situation at that moment, that’s why I stay away from it. Personally spot trading is a lot better, it’s a lot lower returns, and it’s a lot less risk. If I am wrong, I could DCA my way out of that investment most of the time, and that feeling of security is something I need.

trading on a daily basis is actually very good to do in futures trading, because we can adjust the volume and level of profit,
but indeed the level of risk we have to accept is also very high, even trading in futures can make your capital run out, so you should think twice before you trade there.

If you are not a professional yet, avoid future trading, I know their is money in future trading which always push people into it, but you can lose all your money just within few minutes, you can easily get liquidated that's why I don't really advice people to trade futures. If you are in sport trading, if a coin dumps it will definitely recover if you can hold it, most expecially if you are trading bitcoin, but in future trading, when the price gets to liquidation price, you will be liquidated and all your funds are gone. We shouldn't always think about the high profits alone, but we should also think about the risk. I always advice newbies to avoid future trading or they might endup losing all their start up capital.

Ireally agree with you. None can only get profits when trading cyrpto. ALthough they are profesional traders, they may also loss sometimes. But we can see whether the trading is profitablero not is by comapring the difference of the loss and profits

I think we can even argue that the first thing we must think about is the risk we are incurring, the markets as we know move in cycles so as long as you can survive with most of your capital intact when the cycle is not in our favor then you can reap huge profits when the market finally begins to pump, so trying to force things out when the conditions are not there is a big mistake, which explains why so many people which try to trade futures lose their money so rapidly.

There's money in future trading like we can say there's money in gambling... but that comes with a catch. You really need to know what you are doing to make some profit because at the end of the day majority of people are losing just a handful of people actually make a profit. Day, future, and leverage trading are for experienced people, and even they are not in the green all the time. From my experience, it's hard to make money there if you are not 101% in trading and you don't have enough capital and time for that!

The trick is to do whatever you are good at, because everyone else is a different type of person who approaches things differently. I knew a guy who was a Japanese teacher and had absolutely nothing to do with finance at all, he lived in Germany so he wasn't in Japan, and dealt with euros.

Combining his Japanese hardwork with German discipline, dude turned a few hundred euro into over a million dollars by working hard to first study and learn and know everything he could find, and then be active and hardworking and NEVER going out of his system even when things didn't look good. Find your own method, do not try to copy others and you will get there too.

Day trading is all about profits and losses, it is not only applicable to trading it is so applicable to daily life business. In business you can gain or you loose but on a long run,
there should be a compilation to track your losses and your gains, compare both of them and know if you are moving forward or not.

According to the topic creator, he has five years experience in Trading maybe, he might have looked back and understood that he made losses in his 5 years journey. Trading may not be for him. Some other persons will have a totally opposite story telling you how wealthy and Rich they have become a five years of trading.

many will probably think the same as you all that it is not easy to do day trading, and there is a fear that all the existing money will be lost.
it must be remembered that all trades will always have risks and nothing is guaranteed to be safe, but it is true that you always look for the smallest possible risk that happens if it will happen it will not make all money lost.
Once again, everything is a habit that is done by anyone, maybe he is already used to doing daily trading and he feels it can make a quick profit, although the risk of loss is also not small.

If he can manage the amount of money for day trading, he won't have to worry about losing all his money because he can manage his money for one trade. And if he can have good trading skills, of course, he can minimize the risk of losing it so that he will have the opportunity to profit from trading. It may not be safe, but by overcoming the risk problems that will come to him, he can also trade well and choose which coins to trade. And with his abilities, he can see the state of the market and decide when to trade.

Even with 20 years of experience in trading you lost all your money? Sorry to hear that. Risk management is of one the most important tools when it comes to trading in my opinion. I have less experience than you and also had my share of big losses in the past. What I learned from losses is that is more important to avoid losing money than to chase the biggest returns. It doesn't matter if you make 5% or 10% return on your investment if you lose all of it in a few weeks. The best thing that helped me to go broke again was diversification, I am splitting my money across different asset classes and never invest all of it only into one trade. The broader our portfolio the higher the chance that some positions will be in the green when other positions are tanking. Day trading is nothing for me anymore, because I don't have the time to be successful at it. Without spending enough time to do research and constantly evaluate your positions it doesn't make sense to trade every day. My personal investment approach is more long term as I have to spend a lot of time between my normal job and my family. You need to find the best approach to trading that makes you comfortable and where you make money long term, if you are not happy with day trading anymore take a break from it.

I strongly advise against seeking someone that has the expertise and knowledge on day trading crypto. Because the crypto market is very volatile and unpredictable, I think you are better off learning how to tell when the crypto market is in a bullish trend and just basically buy Bitcoin and HODL.

And also learn when is a bearish market to determine when is a good price to purchase crypto at the lowest price per coin.

i agree, especially when it comes trading crypto because of beings so volatile wherein you will end up losses in just mistakes and even you have good strategies still useless.. Because tbh I've been practicing my strategies for years and i believe it's accurate all good so i wonder why on live day trading it always didn't go well. Lol so now i choose long maybe it will work..  ;D

It is a smart idea to start learning crypto now and stop relying on others because, during difficult times, they'll never help you. I know that these experts really exist but just like us, they also lose and make wrong decisions. Day trading in not just about earning a profit but losses are a part of it. But the good thing is that our bad experiences teach us to become strong and even more careful for the next round. Quitting is not the best option but rather make ourselves to deal the situation and accept it.

Even though there are true and profitable experts, I don't think it will be easy for them to tell and teach them because I believe these experts will not fully teach them as they are also struggling to find ways to be profitable. And to be honest, I don't really trust the experts if we look at the current market situation.
and now is not the right time to make money trading. Especially in day trading, in my opinion the possibility of getting a profit is very small and even then it is done with full time and high skills and also depends on how much capital is traded.
and the best way now is to buy when the price is low or do DCA when the trend is down, and all for the long term.

If the knowledge is not enough to engage in trading, then you should not even start, because it will always end in a loss of money. If you listen to someone's advice, or use some kind of forecast, it will lead to the same result. Therefore, if you still want to trade, then you need to completely rely only on yourself. It will be difficult at first, but only in this way will you be able to understand this matter thoroughly and determine working strategies for yourself.

Newbies are always trying to find shortcuts believing they will find a way to earn money without acquiring any knowledge about the markets, and they could not be more wrong about this, there are no shortcuts, trading is a very difficult subject and if they are not willing to learn then they need to say away from it, but they refuse to do so because of their greed, and that is when disaster strikes them, since it does not matter what they may try it is almost impossible to earn any money when they are completely ignorant about how the markets really work.

Realization comes after a bad experience like losing their capital for being greedy and incapable. That is why I let these newbies believe what they think about trading, doing shortcuts, and joining signal groups...because in this way they will see the difference between having full knowledge in trading versus when we are jumping on trading with empty knowledge just because someone pretending to help them. Could be unfortunate but still, a lot of newbies are doing this.

as long as we can be disciplined in managing our trades then even day trading can still generate profits and keep losses minimal. the important thing is that we have made a target percentage in profit and loss. so with that we have locked the stoploss target and takeprofit target. and we must obey and be disciplined with the plans/management that have been made. I see many people lose a lot from day trading is because they are wrong in implementing the trading strategy. maybe they are used to long and medium term trading and they apply that strategy instead in day trading. then it is very clear that it will only bring losses and even confuse the trader's mentality. Each type of trade has a different type of strategy. so we need to know exactly what kind of trade we are going to do. such a DCA strategy would be well suited for the long and medium term. but the DCA Strategy is not very suitable to be used as a strategy in day trading. because in daily trading we don't care about bullish and bearish conditions. because we trade quickly and maximum have to enter and exit in one day. so this is where we need to set what percentage of profits to be obtained and what percentage of losses that can be borne. and a person who is used to long term investing will be a newbie again if he starts out as a day trader. because they will be very unfamiliar with the fast movements that have to be taken advantage of. because day trading is the most emotionally and mentally draining trade.

Basically, skills must be needed in daily trading not only for a professional but they can prevent a very large risk because they have set management in trading and of course a beginner and a professional will be different in acting so this will not be the same even though following some suggestions and the material he was given.
I think trading is not just luck, but they analyze with very precise timing, meaning that every time you enter or sell you will know the time that has been set, even though only a few percent are made in that profit, so skills are very important for professionals and beginners.

Well, it depends because some day traders are able to earn decent amount when they trade. If you're knowledgeable of what you're doing, has experience, can come up with an effective strategy and able to take advantage the market regardless of its situation then trying to be a day trader can be suited for you because you'll never know unless you try. There's no limit if you really want to learn hence if this kind of trading didn't work for you, it doesnt mean it will not work for other traders too because it depends on our skills.

Not getting out of your system and method is a hard thing for newbies, not so much for veterans. There are too many people who see how you should become an investor and can get rich, and instead of following this route, they end up with doing even worse, because they end up changing their method right in the middle when things are going bad.

Most common example is, there are some people who saw it go from 68k to 40k, and bought bitcoin because it dropped, then it dropped another 50% on top of that, and they sold, that’s a mistake. You should have bought more, and waited long term to make a profit, this is known and if you changed your mind, you made a mistake.

I can agree to the "losing all your money" part but I will quickly add that it's not only in day trading that happens. It can also happen when you hodl or trade long term. What is key in trading is the skills (I keep going back to this). If one gets the skill set right for trading, it doesn't matter anymore whether one would be trading on daily or swinging.

Agree on that, but I guess the OP seems to emphasize greed for day trading. Many people can make profits on day trading, while others also lose money. Nothing is always profitable, but if it's about losing all the money in the long term then I think something is wrong with the strategy.

Of course, skill and strategy will affect the outcome. Indeed, no one can always make a profit, but at least with skills and strategies they will not trade blindly without analysis.

Trading is difficult, and not only for beginners, as even experienced traders can lose money. But without mistakes, you won’t be able to gain experience, so beginners should go this way. The main idea here is to first learn trading in theory in order to understand the basic principles and only then start trading. This should save a lot of time and money, which will not be lost if a beginner starts trading right away without any knowledge of it.

Without a doubt a great deal of newbies will not learn any other way than to experiment those losses on their own, however while such a strategy is fine to be implemented when it comes to almost another topic at the same time such a strategy is incredibly costly in this market, which allow us to explain why so many newbies lose all their capital and they finally understand they need to study the markets to get some profits but by the time they make this realization their losses are massive already.

Agree with both of you. Trading is indeed difficult but it will depend on how we can overcome that difficulty and can turn the situation around to profit from trading. Only by learning can we earn profits and reduce the chances of losing money in trading. So before you start trading, it would be better to understand how to learn and start learning to trade to gain experience because having more experience and learning more can give us the ability to analyze. And if we already have sufficient ability to analyze, we can try to trade daily.

day trading in cryptocurrencies belongs to the aggressive category. and of course there will be a greater risk. Do you understand that in daily trading, psychology is actually the most influential in determining trading success. that's why no matter how long we study but if we can't control ourselves, it will be difficult to survive in the market, and of course maybe you are more suitable for long-term investments, and all of that comes back to each person's trading style

It’s just a big wild west out there in the trading world, which means that if you are a great gunslinger then you are going to end up with a lot of profit, but even you could get shot in an unlucky situation, so there is never a guarantee.

Day trading is very difficult, it is one of the hardest things to do, and if you really want to do it, then you should be able to actually form a good point to not care about the losses, learn from them, and move on. Because if you ignore them, you will continue to lose, if you are stuck on them and cannot continue, you can't recover. But if you learn from them and move on, you won't make the same mistakes, and you will get better.

How can they lose money if they don't want to do it? You better clear out what you are trying to say but I bet it goes like this> people don't want to do day trading again once they lose their money? Well that is true for some especially if the money that they lose are too huge but there are some that will try again but before they do, they will first seek for new strategies. Your statistics are nice.

I can see that you are doing trades for a long time now but maybe you can share more precise tips next time? Because, the one that you have here today are not really that helpful but it only look like you are discouraging someone to not do day trading.

I believe not every trader has the same experience as you. I came across some friends who were profitable day traders. there might be a problem with the method or analysis you're using. You don't spend a lot of time in the market. You should have adequate experience after that.
I advise you to temporarily exit the market if you have overspent your resources. attempting to identify the source of your trade's problems.

Newbies should build strong foundation if they wants to be experts in day to day trading because it requires time and consistency. The thing is that they're not ready to learn before they will start earning. There's is this quote in crypto which says one must learn before one will earn. It can take up to two months before going fully into crypto because by then one must have had a clear view of the space and knowing the key basics of crypto. But instead, they refused learning and just jumped into doing DAO or trade and mostly becoming victims of scammed projects. Ignorance is also among the key factor making newbies lose interest in learning aspect of crypto and how the market operates.

Day trading can be truly unpleasant however I don't figure somebody will lose all of his cash by simply doing it except if he is exchanging prospects. On the off chance that you're doing detect exchanging, you don't lose as long as you don't sell your crypto at a lower cost. While you're exchanging fates, you can without much of a stretch lose your capital when an unexpected startling development occurs on the lookout. The higher your influence is, the higher opportunity for your capital will be sold.

And if we look a little bit more profoundly into this we will see that the reason they do not want to learn about the markets is because they are not really interested in them, they are interested in making money and nothing more, but they are not really interested in learning the process which will lead to them to get those results, and as you may guess this means that the majority of the people that come here thinking about making a fortune will never realize their dreams, and instead they will lose their money to the few traders which are actually interested in knowing how the markets work.

Not everyone who does day trading in cryptocurrency loses income, yes we are there that there are times when crypto traders often lose but not to the point where most lose funds. Sometimes those who lose capital due to trading are also due to a lack of knowledge and negligence due to wrong decisions or being greedy and savage with money.

That's why for me the loss is just a part of a trader here in the world of cryptocurrency even when it will never go away, so the only thing that should be done is to be smart and careful in trading here, that's how simple it is to think.

Well, trading in futures is something that can leave us with a great experience, however what I have tried daily is in other markets such as forex, there I see that the signals that I can obtain under my analysis in times of 3-5 minutes are a little more stable that in crypto or in BTC everything can change from one moment to another, however I have noticed that one can manage well with the corresponding lottery so as not to burn the account, that is what I think can be better, now well the people That they take more risks may be something that can give you a quick profit, but the way I see it, I don't recommend it.

fact, really.
Day trading really requires good knowledge and calculations, as well as consistency, namely consistency in trading, and managing time and money. And this is not easy, because there will be a lot of pressure when day trading, especially in the Future Market. On the other hand, newbies usually can't stand these pressures, especially if the market turns in the opposite direction, panic will occur.
Especially if, as you said earlier, there are many newbies who are just trying to do day trading, without sufficient knowledge or knowledge, so they will complain about the results. Although they say that they are doing this to gain any experience, in fact, to get the experience, we need to learn first and prepare all things that we need for day-trading.

I don't think this is just for beginners. Basically I see the majority saying that day trading is too hard and I have yet to see anyone doing it successfully for a long period of time. This requires a lot of concentration and discipline, and any mistake will result in a loss of funds. Even if a person can do day trading successfully, he will not be able to do it for a long time, it takes too much strength. And in the end, long-term trading will bring better results, and you spend less time.

totally agree with what you said. because it is true that day trading is the highest level of risk taking. then of course for beginners is not recommended. it is better to learn all about technical analysis and fundamental analysis first. as well as various indicators in trading, beginners must first understand if they want to enter day trading.
because in daily trading we must really be able to understand the pattern of market movements. because we are profiting from the movement with a small profit. and it is emotionally and mentally draining. we must be able to analyze quickly and precisely. we also have to know where the right entry point is and after that we must not forget to put a stop loss and takeprofit. and what a lot of beginners do in day trading is that they don't plan for the losses they can afford. so they don't put a stop loss. and after the decline has been a lot then they panic and do a cutloss. even though in daily trading we have to have careful planning. to minimize losses if they occur. because sometimes even though our technical analysis is correct, it turns out that in terms of fundamentals it is different. then it can affect and make our analysis fail. so it is highly recommended to analyze with these two factors.

OP said he has 20 years of experience trading on both markets so can't say he's a newbie but in the end he couldn't beat the market, all of that will happen to seasoned traders as well. Actually day trading is extremely difficult, we face a lot of pressure at the same time and I also think like you no one will be able to succeed. Today's successful traders may have found the right solution to strike the right balance between day trading and long term trading for good results.

You pay the profit you earn in day trading with either your profits or your life. I've seen people managing to live by relatively well-off from day trading, I've seen ones that greatly abhor it with all their existence. I would say it is a matter of perspective and compatibility. To some day trading is so much better than sitting in front of your office desk at a 9-5 job. To others, well they'd rather sit their asses off 8 hours a day and drive from work than waste away their life analyzing lines and graphs to earn peanuts that will then be taken away from you one way or another.

I have rarely seen someone describing the consequences of day trading so on point as you just did. And even if you spend 24 hours analyzing graphs, you are still up against an overwhelming industry of algorithmically controlled trading bots with the highest computing powers available around the globe. You are also up against industries that have access to insider knowledge. You are up against so many things that in the end it all comes down to a coinflip unless there is anything that gives you an edge over others.

I don't think such groups provide educational material to their members. Because If their members will be able to trade on their own, no one would pay them... I'm talking about paid groups.
Yes, like every business, it has both profit and loss. If someone is comfortable with profit and does not want to see loss, then trading is not for him. It is better for him to put his money in the bank and earn interest on it.

Well, trading in general is really hard in the first place. But, people had try and some of them went successfully while others are failing. Generally, trading is not for everyone but, of course, it welcomes all those who want to try. Some had chosen to become a day trader and live it comfortably, maybe they know that they can perform well and profit. It is a matter of choice, whether you are a newbie or an old-timer, and it was too difficult to choose to a place that we know it hard to us as it only leads to losses.  

Putting money in the bank is not really good idea. Fiat money loses its value rapidly. Better way is to invest in some assets.

I think trading or investing depends on the knowledge and skills of each investor, not on luck. But you are right, trading is not for everyone, it can be said that becoming a successful trader is not easy, not everyone has the patience to sit in front of the computer for hours and put under a lot of pressure to be able to make a profit. Trading can be said to be much more difficult than holding, many investors lose in the market largely due to trading, especially futures trading.

I'm not a bank nor cash defender but there's also some advantage to keeping your cash whether it will be in the bank or through your own vault. Like on these times when inflation really is hitting, the cash value is depreciating but there will be times that you really have to spend some bucks to acquire new assets. And for you to have some assets, you'll be needing cash and one of the most important is to have an emergency fund which will still involve having some cash.

Both in Stocks and Crypto trading, nothing is wrong with day trading, some traders are making huge amounts of money through it. It also depends on what you mean by day trading because there are many strategies of day trading, we have scalping, holding the position for minutes, while others might hold their position for hours and even for the rest of the day (about 23 hours). The higher the duration of trading for the day trading, the better and less risky it is. And once your strategy is good enough, you will be winning regularly.

I don't think that anyone thinks that there is something wrong with day trading, it's more about how difficult is to day trade and be profitable. Many people are trying many strategies, but the fact is because of bad timing/greediness/wrong information/etc many people are losing money, simply profit they make can't cover losses. What many people don't realize is if you wish to make a profit with trading you need to worm up your chair,  you need to invest time and be active in following your chosen pairs. I guess it can be like a full-time job because the more active you are the higher your chances are of having successful trades. It's not a "get quick fast" scheme, people think they can trade at any time by picking random pairs and it's all! Well, things don't work like that in trading.

Day trading will not make us lose money as long as we can play the right strategy. In my opinion, what makes us lose money in daily trading is because we are too pushy.
We have to speculate according to the circumstances. But in day trading it is very close to loss because the market is very volatile.
When the ability to speculate is below average, it is better to avoid day trading.

Every day trade should have a good plan. and they have to stick to that plan. compulsion or greed will not produce what we expect.
Some day traders lose money because they force too much market momentum. they always expect bigger profits. but they won't get it. most do not succeed because they do not stick to the original plan that has been made.

Obviously, I agree. But, the majority of people believe that putting money in the bank is a good idea and that they will earn a passive income. In reality, however, the value of their money decreases. So I did not say that keeping money in the bank is a good idea. I was just describing their way of thinking.

Day trading is not for everybody. One has to dedicate his time and effort in order to succeed in day trading.
Even then there are days when you don't make any money and days where you lose money as well.
Everyone has to try it though to figure if day trading is meant for them or not. I have tried as well and figured out I can't day trade.
I am better off with short term and long term trading.

I recognize that you have a wealth of trading experience.
But bear in mind that sometimes someone has additional skills, such as the ability to search for daily profits using all of their extensive analysis, just like you. Therefore, it is unlikely that people who desire to day trade or seek daily profit will lose their money.
In reality, a long-term investment would be preferable, but occasionally a trader will be unconventional and almost a percentage of them would seek daily profits when a bearish condition is affecting the market.

This can give a message to beginners to avoid day trading. We have no right to forbid people to do so, but because the market is so volatile that we dare to give advice.

There are several things to avoid for those who are very new to crypto trading activities if financial capabilities are not present such as mortgaging securities in order to get capital because it will not guarantee that capital will return instead of expecting profits.

Day trading is not advisable in the bear market. either a pro or a novice, trading in the bear market is a nightmare

Day trading didn't work for me, and I always point out that it's hard to make a profit if you are a newcomer in trading, but people should be free to try it. Of course, with the money they can afford to lose! Jumping into something unknown with big money is not a good thing to do! Whatever stories you read or hear from others! Experience needs to be built somehow, but what we don't need is to spend a fortune before we learn something (or we do?!)! Each of our stories is different, it wouldn't be interesting otherwise... I guess.

If you are not very good at day trading, you will make a profit on long-term investments.
I also used to think I wasn't very lucky in day trading. despite having studied and trying to develop skills. but still, the losses outweigh the gains.
better investment. Daily trading in unfavorable market conditions will of course lead to losses. except those who are good at futures trading.

It is not advisable for anyone to jump into what they do not understand it will be quite difficult to make profit from what you don't know how to do . Trading is something that is volatile even people that knows how to trade loses money most times let alone someone that doesn't know how to trade they will lose a larger amount of money
If anyone wants to involve in the trading they should make out time to learn,  after learning they should try out with demo account if they could make profit from the demo account, they will now start trading with small capital and when they become consistent they can increase their capital.

Day traders are still doing day trading even during the bearish era. Because they already understand how best to do day trading. Especially if they do futures day trading, they may actually take advantage of the bear market to earn profits. Not everyone has a goal for long-term holding. There are some of them who still do day trading. Whether it is effective or not, will depend on the individual day trader. Because this is related to strategy and various efforts to avoid losses when the market suddenly changes direction.

Day trading requires stop loss strategy. I don't know of what ways to prevent the loss when things go wrong with the trade because most times you won't be there to always watch the market movement to know if to stop your trade or not s the best is to use stop loss which is the best strategy incase something goes wrong.

But it must be considered before doing day trading because the risk is also great,
moreover if one does not have the capacity to day trade it is better not to do it,
if not smart then it will make us experience losses continuously

Day trade isnt for anybody or everybody who do tends on engaging on it considering that this is one of the most hardest way of doing trades which you do really make yourself get involved and facing up volatility

on a very active manner which is something that not everybody could pull off but its not really bad to try up but you would realize for yourself on what it looks like on doing  day trade.

It would really be needing that real experience and skills when dealing up with volatility which is something that you cant really be able to handle it out.
Although there are day traders existing but this isnt something a skill that could be acquired on short time.

I don't think, day trading will bring out something good in this bear season, which is the best season long term traders always used to prepare ahead of a brighter future. If day trading has caused you loss before, do everything possible within your power to try long term trading in this season, I guess you will have something reasonable to share to other day traders about your long term trading results in the community.

that's what a day trader does in controlling or managing losses. Stop loss is different from cut loss. Stoploss is more towards calculated losses or acceptable losses. so that day traders are familiar with using this. and even if you play Futures trading where our level of analysis really has to be honed because it has a greater risk. but even though we are confident with the analysis made, the stop loss point has always been determined from the start.
many who are exposed to liquid when doing daily trading in futures is because they do not place a stop loss. or sometimes forget to put a stop loss. because the stop loss is also sometimes we move the point it is located. For example, if the coins we bought have profited at 25%, then I myself will usually move the stop loss to the nearest area. so that when the price goes down again I can still get the remaining profit.

but day trading either in spot or in futures trading is a high risk trade. so beginners who are just getting into crypto trading don't recommend doing it.

I must say that I like your expression, yet we still need to encourage one another. Day trading is the riskiest and most demanding of all trading scopes but it is profit-massing at the same time. What I have noticed is that many often misdo the day trading, they would want to make huge money very fast without applying the right caution, not even a good plan and management in place. What I would not support in day trading is the scalping approach, and I am sure that other approaches of the day trading would work if the trader has good strategies to work them out.

And the longer you plan on holding your trade for the day, the better.