Bitcoin Forum

Hi guys. I really wanted to become a day trader to maximize my profits. Now, i wanna ask if how much do you earn in a day? How many coin charts do you usually monitor? Do you have a minimum charts to look at? Thanks

First of all you should be aware that to be a day-trader requires a lot of time and attention. A lot of stressed is involved as well especially if you're a newbie. And my recommendation is to stick to maximum 4-5 coins. Always chart BTC first. You can make huge money by day-trading but you can lose a lot as well. Good luck!  ;)

Day trader is really an time consuming activity since you need to check from time to time the prices of your coins, you as a newbie i'd advice to trade 3-4 coins because 5 or more will put you on stress, and always check BTC chart before anything else.

I think it is almost impossible to say an exact amount for that. It depends on your trading skills and luck. In my opinion, you can make good profits by buying some altcoins which have low prices, but if you have no luck, you can not get profit by day trading.

Day trading is actually more harder to execute than it looks. You will need huge capital to get started and make decent profit. You need to act quick along with the market movement. Any mistake will make you suffer a huge capital loss. Time commitment is a big deal over here. Without knowledge or experience you will most likely defeated. I never tried day trading since the amount of time and patience needed is out of my reach.  

I used to be a day-trader.
I looked for opportunities in every up and down of prices.
after thinking, day-trader doesn't suit for me. because i am often to lose. now, I prefer to be a holder.

u should know much about the charts if you want to be a daytrader, and have a time like more than 10 hours a day to starring at the charts in many markets

If you don't have any knowledge about day trading yet then I would not recommend it, when we say day trading we buy altcoins and sell it before the day ends (depending on how many coins you can monitor or you like to trade), it is easy just like that but it is hard to make profit because there is no guarantee that the coin/s you trade will increase its value within the day. How much you can earn? It depends on how much money you can trade and depends how much increase the coin you trade can reach, the more money you trade the more chances that you will earn more but also the more chances that you will lose huge part of it.

The amount of money you can earn everyday from trading depend on how much money you can invest to trade. Beside don't trade too many coins, you just should care about 4 or 5 coins with high trading volume on any exchange cause it's good coin and has good potential to pump in a day or two. One more thing, don't buy anycoin when it has increased a lot in just a day cause after that there will be a big dump for these coin so if you buy it at that time, it'll be ATH price :)

I hope you know to be a very successful day trader, you need to be very discipline to grow your portfolio, someone said a profit of a range of 3-10% is enough for day trader daily, you just need to have a working strategy not to be burnt in the process

There is no average profit per day as it will depend on how the coin will behave. Google the meaning of VOLUME. Sometimes coins doesn't move that much per day so in the end, less profit or no trading activity on that day.

I suggest that don't take the word "day" as literal because day trading doesn't mean you have to do it everyday. Daytrades usually means "short term trades" so for now, study first how daytrading works and don't focus on how much it can give you per day.

I don't think day trading could make you maximize profits. Day trading is only good for busy market and it doesn't happen everyday. But you have to try it yourself so you could learn for yourself. I believe 5 coins is too much for a day trade.

actually day trading is stressful and you should always monitor the price of a particular coin. The news about the coin and its progress on roadmap. And you  should always have a list of potential coin that will boom in a certain time.

Day trading is not fucking newcomers. first you have to go through a good market school, gain experience, temper your nerves. And only then a small deposit to start working as a day trader. Otherwise you will lose everything.

It is very hard people open the trade once in while also get upset when loose the money when the price dumped to cheap in the market. You need to monitor the price changes on the all coin you open the trade.
Invest on coin always fluctuating and some potential cheap coin as well.
You will not get the any trouble after it.

I'm certainly not a trader, so I can not say directly on this topic, but I think that you need to be prepared for the fact that you can lose all your balance on the deposit, so be prepared for this, but of course you can talk about earnings.

Day trading can net you as much as you are willing to risk. However, most people think they can just day trade by charting. They don't track how well they are doing in reality and they never backtrack to try to figure out if their strategy is really working or not, especially if they have some idiot espousing the wonderfulness of some chart formation or another. Most day trading strategies involve following the crowd and momentum. The reason these work is because everyone believes they work. Right now they work extremely well in crypto day trading because most of the traders are newbs.

Average profit of 10-20% is decent for a day trader. But you can easily be burned specially during your sleeping hours. I advise you to don't do it and just be a mid term trader which I am doing now.

ise scalping method if u wanna be daily trader.
if u can read chart n market very well,maybe u can gain about 2-5% from your initial.
and also set stop loss for avoid big loss

You have to look at the charts for a long time and create your own trading strategy. Then, trade on the paper and achieve a good result, at least a month in a row. Then try to trade for little money...
Strictly following the trading strategy, it can become successful. But you know, it will take many months, and maybe years.

Yes, this is a difficult, intense activity. I left it in due time, because it was hard for me.

Usually i am scalping with only one altcoin a day,focused in just one active altcoin and you will eearn 10-15% gains daily,but if you dont know how to trade with technical analysis,i suggest start reading at investopedia because that website will guide on how to trade using technical analysis it is worth because most of the successful traders are using technical + fundamentals (news).

If you are really a good trade who knows technical anaylsis you can make a lot of money everyday,a single coin which has good movements could give you 10-15% daily average gain,the challenge is how will you find a good coin to trade with? you need also to learn some technicals and fundamental analysis so your trade accuracy would be high.

First you you should coung what sum do you want to gain every day, what percent of your depo you want to have daily. Imho stability is better than risk. I trade only one two pairs and usually take just 3-5 % a day. You cant do more than 10% every day it will burn you:) some days you have to wait. Put stop losses or you can start like long term investor:)

Have you ever considered using a trading bot, that might save alot of time and u can simply rely on your strategy for it.

There is no fixed amount of profit that I make but let me tell you you can make 5 - 10% easily day trading coins which have some good amount of trading volume. Though you could also lose some percent a day. so if you are thinking this as a passive income opportunity then drop the idea now itself.

nice thread, been interesting in day trading too

In order to become a day trader you should know the risks that anytime you will lose more than half of your money.
Another thing, you need to spend more time on monitoring on each sides of an Altcoin that you're going to trade.
Last but not the least, you should wear luck because me personally I do believe in luck because without it, no matter what you're doing, you always get what you deserve because you are a lucky one, otherwise, you'll ended with regrets.

First start out to be a trader and then learn about the trading industry and then plan of becoming a day trader,it is not that east to become a day trader,if that was so easy,every one would have become one and made a lot of money,just check the market all the time and monitor the market with the help of bots or write your own program.

take one or two coins first. This is how you will be able to find out how much time you need, how fast you can react and how well you can deal with stressfull situations. If you are okay, you may slowly start increasing coins amount.

I am monitoring only one coin which has good movements everyday,and if you know what you are doing,technical and fundamental analysis will help you to have successful trades,an average trader could have easily get 10-15% gains daily but a marginal trader could have 300% a day but that is very risk because you could have a lot of gains but you can lose your investments in an instant too.

I'm too starting day trading and the first results made me happy. With a conservative strategy, even in the current market (the market is not very good for trading now), I earn 10% of the Deposit in month.

Well, I sure hope that you really have thought this through well enough because clearly it is not as easy as what you think. This type of field required a lot of time and dedication from anyone looking to get into it. Not to mention all the knowledge and experience it requires from someone and that having or not having this can either be heaven and give you great returns or hell and rip you off of your capital and make you suffer big losses. So, I suggest you to just invest on sure coins if you have a good budget and use small amounts with your day trading plan as practice. Because I think that the risks in day trading is really not worth the gains you may get from it when you do not know that much about it yet.

Hope this helps you in any way, good day man.

I think the less you follow coins the better for you. Choose the most volatile coin, for day trading, if you know technical analysis and everything about the coin, I mean news on a curtain coin you trade with. Don't choose many graphs to look at (that will get you to loss) and don't forget the more volatile the coin is, the more chance that you will make mistakes and losses, so don't forget stop losses and take profits, make them short. No one will tell you such an information, how much they earn per day, as one day can be profitable, the other day loss, that's a silly question. So good luck, just choose the most volatile and follow it

Day trading is for experienced people, it requires a lot of attention, time and hardwork. If you are new to it then you shouldn't be involved in many coins just start with a few of them so as to get some experience in the field.

The real question is do you have the time and the will to track the charts all day? Well not all day but yeah. Trust me it's frustrating to do that in long term looking.

Your gains will depends on your capability if you have some technical expertise you get can 10-15% gains daily which is 300-450% average gain per month,but if you dont have any background in trading i suggest start learning the basic first so you wont be wasting your money and effort to your trades,learn technical analysis first so you can easily win every trades you have.

Nice Thread
i am also being interested in day trading
read almost every comments
All i learn that u need alot of time
its stressfull
and its base on TA more than FA

My question is what Indicators we use in TA for day trade and what chart time frame.
please guide

Learn some basic technical analysis so wont be losing a lot of money with your trades,try to trade small amounts first if you arent not yet confident with your trading skills because you could lose anything if you trade without any proper knowledge,try investopedia because theres a lot of technical tutorials ther,usually i am trading only one coin per day and my average gain per day is 10-15%.

I think for this trade it is best to use classic and stable trading pairs, and also try to master the trade of the bot ...

If you want to be a day trader, at least you should have enough capital for trading. Indeed if we become day trader, the profit that we get will always come. If for income, it depends on the capital we use.

i am now not a dealer by using any stretch of the creativeness... I purchase and preserve. however, if i was to day trade i'd virtually make sure i am going into each day mentally at +/-$0...which means normal is a new day. forget about the previous day. You pay attention approximately people dropping insane amounts of cash day trading?...it is from mentally wearing the day gone by into nowadays and doing precisely what you're looking to do. First rule to trading is get the emotions out of it... looking to swing for the fences with a "yolo" guess is nothing but emotion.

It is really varies to your skills,if you are really a good trader and you can easily trade with technical analysis you could have 10-15% average gains daily.But if you dont have any background in trading ,you will have some problems and you could lose a lot,so i suggest get some skills first,learn the basic technical analysis so you could easily win your trades.

Not a day trader myself, but every day trader I've seen have lost the game to his human feelings and the greedy nature. They don't make money, or if they get lucky and make money for 3 days, they lose it all in a stupid margin in day 4!

Maybe there are successful day traders out there who I haven't encountered yet, but if you want to become one yourself try to be in control of your greed and fear, and always start with test trading and small positions.

Thanks for the replies guys. I guess i have to learn TA first, i know it will take time but it will be rewarding in the future. Thanks again, i hope i'll get a merit for those who think this post of mine is helpful esp for newbies like me.

Basically daily trading is more beneficial, daily trading increase the net capital and the revenue is secured by day end. Day traders are very active, making many trades each day and the margin of loss is minimum. Day trading can be a part time or full time depending on the trader's strategy.

At first you should know the basic rules of day trading. Day trading is not easy for everyone. There are more chance to loss capital. You shouldn't choice more than 5 coins at a time for day trading.

Day trading is a hard job. It requires a lot of time and knowledge. I think that at the beginning it is worth trying with cheaper coins. Possible losses will be small and you can check whether this type of trade is for you.

What do you consider "huge capital" I've also been wanting to start as a day trader but based on what I've read here today it kind of makes me scared :-[ Also, what would be a good source of altcoin-trading knowledge?