Bitcoin Forum

Is day trading a thing in bitcoin? Does anyone practice it? Also, how big is the benefit someone could make of it? Is it substantial or just some minor benefit?
Also hello everyone I'm a newcomer around the bitcoin community. I'm sorry if the topic has been covered somewhere else but I searched around the forum and I anyway felt like a wanted to ask in a new topic.

Yes.


The subboard "speculation"[1] is mostly dedicated to that topic.


Welcome.


[1] https://bitcointalk.org/index.php?board=57.0

Don't try to get rich in one day if you're day trading. Bitcoin times have changed, it's not as crazy as it was last year. Last year price went up 100 dollars then back down 100 dollars 2 hours later. I doubt you see that.

day trading is too dangerous at the moment imho, there is plenty of manipulation(plenti of big wall), also the price seems to aims high, going short now is risky, better long term

You can use leverage at 30x on places like Bitfinex.
So yes you can day trade, but it is quite risky.

So everyone who speculates right now just buy low, wait long and sell high?

I am currently studying the market movement of BTC, but its tough we cant find a solution why the btc suddenly up and suddenly get low, demand and supply is the answer, then also I am not convinced... waiting and watching

Buy low, wait long and sell high, is called "investing", not day trading especially fancied by short term speculators.
You are a newbie in bitcoin and probably has no any trading experience yet.Due to the fact that day trading is very risky, I recommend you just wait and learn the concept of bitcoin. If you have spare money, you can try to buy a little bit and hold.

Day trading would be risky as freak right now.  :-\

Sure it is there is a trading simulator in speculation if you want to try it out risk free
https://bitcointalk.org/index.php?topic=890086.0

If you are a hard-working person, day-trade with your intelligence could help you get rich quickly

That in my opinion needs experience of the economy also.
I think arbitrage is a good option if you have decent capital.

OR , you just make a bot that does the work for you. and you wont need that hard work you'll just get rick for free will take alot of time to get rich tho.

Day trading is very risky for someone who does it without the knowledge and very profitable for someone who has all the knowledge and knows how to do day trading I never recommend day trading to a newbie because it can give them great losses.

Very much so, although most day traders would branch out in to alt coins as well. I day trade sometimes with varying success, I'm no expert so only really do so in favorable market conditions. I am up considerably over just holding bitcoin over the last 6 months or so, others will have even greater success than I have done so, but it does not come without costs, it is a big time commitment and can be very taxing from a mental point of view. If you can't handle pressure and loss then it's not for you.

Day trading is good when you have a good strategy of trading.
for now day trading is not advice able because of the flow of bitcoin.
with day trading you could make everyday profit from bitcoin thereby making you gain more than holding bitcoin.

but day trading is riskier than holding bitcoin. but as you said, good strategy can be profitable.

Lmao, daytrading is something that anyone can do, it is not something about "bitcoin" came on, make a little research before posting bullshit in here, and also, you can easily start doing daytrading if you put funds in your exchange account. Daytrading is more like a strategy

Unfortunately, Bitcoin's daily trading is now highly discouraged.
Because the facts are now in a downtrend.

different in 2015 backwards, very good if used for daily trading.

Remember, day trading is not a game of luck. It is not a game of ifs and buts, which people generally talk about. Remember, day trading is not an effortless proposition, it requires a lot of hard work, analysis, access to information (news), flow, conviction and more importantly certain qualities which are discussed below.

yes, absolute you can. You can use 30 minutes chart or 1 hour chart, you buy in the morning, and take profit in the evening, in case you choose the right coin, of couse. But remember that, you just can do that in up trend, and now is down trend or not up trend yet. you just stay that and wait for up trend. dont trade now. You will be regret.

Purchase low, hold up long and offer high, is designated "contributing", not day exchanging particularly liked by here and now examiners.
You are an amateur in bitcoin and presumably has no any exchanging knowledge yet.Due to the way that day exchanging is exceptionally dangerous, I suggest you simply pause and take in the idea of bitcoin. In the event that you have save cash, you can attempt to purchase a tad and hold.

Quite a number of people practice day trading as the case maybe. Before you day trade, you need to understand technical analysis very well. Day trading comes with risk but you need to apply effective money management to be able to trade it profitably

It is part of bitcoin and altcoin trading strategy. Honestly day traders plays an important role in the circulation of the alts and bitcoin on the market and that makes the demand of buy and sell that makes the market live. Although day traders gain minor profit in the meantime, but it is worth trading and on the long run the profit will be a lot bigger than you think in small period of time.

What do you mean discouraged? We can still do day, intra day or even, intra week trading. We have the same pattern as 2015 so I don't understand you saying that its good to day trade but not today.

@Daniel9140 - you are right when we go on the bearish trend, I believed that traders shift to being a day trader and will pick up any profits they can get. Everybody is very bullish long term, until you put your position and take advantage of the market situation.

Yeah there are some strategies and techniques that one must follows to make a good earning at the end of day. People often don’t learn before getting into this world of trading and thus they have to face severe circumstances. But for sure, people are always interested to make good earning as well. Like you have said, buy low and sell high this is one of the basic rules of trading

Day trading is good way to make money in crypto market, but this trading activity also has high risk because the volatility of crypto very high and can be going up up to 50% just afew hours and can be going down more than 50% as well only in afew days. Before doing day trading activity you should be first have trading plan and risk management to make monthly profit and to avoid much loss.

I agree with your opinion, day trading has a greater risk than long-term trading. Especially at this time the market situation is very uncertain and very difficult to predict.

A newcomer like you take a good first step because you find trading an interesting so you ask for some response here. Reading is also a must if you want to start in day trading, but this is quite risky and newbie like you needs more time to focus learning about this kind of trading. Anyway, goodluck.

If you are an experienced trader with other markets then transitioning to crypto markets isn't a huge leap.  Obviously things tend to move quickly, and run 24/7.

A person new to trading should avoid day trading period.  Day trading for inexperienced trading is almost equivalent to gambling and without an understanding of strategy or risk management could easily lose large amount of money (or base currency like BTC or ETH, etc..).