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Is day trading for a living your dream job? Get another one – study says 97% of day traders lose money.

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3423101


Only 0.4% earned more than a bank teller.


You can thank me latter.

It is true that most lose. An exchange told me it was more like 89%. But then again winning some and making a living is a big difference...
The thing is that it is a probability game that goes against your gut instinct.
Want to make money sell TA  ;)

Yeah agree with you.
Many of the traders make losses when they think to earn more with less fraction of time.
And those who are making huge money with it, they already have a huge amount of bankroll.
For them losses will be very small and they can easily recover from it.
Nevertheless let's wish all the best for all thr traders.
May the fortune be with them.

You will have to monitor the charts every time for this but certainly doable since a lot claimed to be good at it.  You can make money out of it with leverage so with just a few cents of price dips and spikes, you can live and spend a hundred dollars a day without financial problems in the future. This has been done by few Forex traders who now lives in some other countries relying to their trading skills.

Day trading for a living is possible with users who holds good sum of funds in the wallet. Even if loss is experienced it should not affect his living. It is always a good choice to go into day trading once you've got the savings to meet all your lifetime needs. Very few get lucky to earn out of trading with very small investments. What we see in terms of percentage is based on statical data. When there is more than 90%?people experiencing loss how to choose it an option as an earning source for living.

in a gold rush, sell shovels! :P

paid TA/signal groups are seriously a money printing machine. i considered running one 2 years ago but decided against it. it would just feel too grimy because even if you're on the up and up, most subscribers won't get nearly the value they are paying. and that's simply because most people aren't cut out for trading---both emotionally and in terms of analytical/probability skills.

I never can do day trading. Because sometime i lose and only a few times get profit. Maybe i will trade like usually traders did. Like it is ok to hold until get profit although not aim daily profit. Actually to manage my mental is really hard. But will be harder if i aim and make target daily and push it. Maybe it is right when people said that each person have their own strategy in trading.

just because some research says a big percentage of those who are doing day trading are losing money it doesn't mean it is like that if you start doing it! basically if anybody starts trading in any form correctly without greed and being over emotional, the results will be positive for them. the problem is that most people doing day-trading are not "trading" they are instead "gambling" and the result for gamblers is never good no matter what they do. that is something these studies never look into.

That’s the problem..... greed is why they want to do day trading.....  trading on weekly charts is better for most...

They thought that day trading is like an easy work . Such playing games and etc, but afterwards they become crazy because of being lack of knowledge and information.. That's why the percentage is very low when it come day trading .  Because only knowledgeable ppl can make much money on it. Greedy ppl always cant succeed on this kind of manner how to gain quick profits.

Well, you may rarely find this, but to make a living that way you can, as long as you have enough knowledge in the operations, I have usually learned that with a lot of money in trading you do little and with little money you don't know make. Really to say that trading can be lived yes, but I think the secret is to see it as a business. Thinking that you can get us out of a situation quickly is difficult, unless the correct operations are done at the right time, and perhaps with good luck, although it is better to make the gains by understanding how it was earned.

Newbies see monitor setups like this and think that's all it takes, then they get chewed up and spit out:

https://www.tradingacademy.com/assets/images/desk-showcase/10-keith-hetherington.jpg


So by "day traders" they mean intraday, like trading the minute charts? On the stock market, no less?  I say, leave that to the HFT algorithms, market makers, etc.

I'm a swing trader through and through. Although there's one circumstance where I like to trade intraday. When BTC is in a bubble, you can rebuy longs when the 1-min chart is oversold, all day long. Every once in a while you'll get washed out in a flash crash but it's easy money. Can't wait for the next season.

Day trading needs a big effort to choose the right coin because we need to analyze in every day, and we need to search one by one of the coins so we can find the right coins. It will be difficult if we don't have the skills to analyze each coin, and that will need more time to get the coins. I don't think it is easy to find the coin because with so many coins at 1 exchange will need at least more than 1 hour to detect which coin that can increase.

But if you have skills to find the coins, I think you can do it without any problem because your feeling will help you find the coin. Besides that, day trading needs more experience in the trading itself. You can get the experience by trading in the exchanges no matter if you are doing day trading or weekly trading. As always, you need to prepare your money so you can buy the coin directly in the market.

But yes, many traders are losing their money in day trading because they expect to make a big profit from many coins which is not always work in every day. So if you want to day trading, make sure you have good skills, enough money, and time to find the coins.

It's not a secret that most of the traders lose money but it's also not sooo complicated to make money out of trading if you know what you are doing, have an entry and exit strategy and a good money management.
And the most important thing is learning from your mistakes, i have started trading almost 5 years ago.... i made a lot of money with luck, tbh i was doing random shit. made trades cause of news. Then i lose it all again and more... thats the live of a new trader i guess...it took a long time to make consistent profit out of trading, my last top up was almost one year ago and this account is still alive and in profit.

Don't give up to early and learn consistent. It's possible to make money, you just need time and dont be greedy. If you want to get rich quick, stay away from trading. You will end up in losing all.

IMO day trading is if you open and close positions within a day, so yes mostly intraday.
However you are correct that day trading can also mean that you are busy with trading on a daily basis.
So let's not debate this, both could be right ....

Anyway what I meant is that for most, the lower timeframes are non-profitable unless you have strict methods and an exchange with low transaction fees...

It constantly blows my mind the amount of no mark know nothings who declare they're about to embark on a successful trading career. Even more incredibly many of them seem to believe gambling is a reliable sideline just in case they get bored of losing all their money trading.

Err, fuck 'em.

Yeah, that's the reality, so I don't know what happened to those people here specially during the boom of 2017 to just say that they are going to quit because they are going to focus on trading as a living. I mean how can you support your family and bring food in the table if the market is very volatile.

This should be an eye opener for those who wanted to earn big bucks in day trading. It's going to be difficult and it takes years to be successful at least because of the unpredictability of the market.

The more they put in to the system the higher we go!!!
Fuck 'em indeed  ;D

Well then, thank you.

It is a difficult task and that is why I agree with.
Some newbies think that it is really profitable but it aint. You will lose a lot before you could even make a little profit.

Large capitals is needed for this or else you will get broke in an instant.
It is not that I am discouraging them but just telling the truth from experience.

Good observation. Thank you

I don't disbelieve it, if you will make good profit on daily trading many of us know that it is easier when the market value rises more consistently than falling. It requires keen study on the market scale. During the 2017 bull run. Within June & December, making gain was easier.this is how those operating the Ponzi scheme  get frustrated.

Something about day trading for a living is that market can hold you for a long time and you have to wait, sometimes it is between take profit and stop loss for days.

I think that number represents all day traders who do day trading and not only the day traders that does this full time. Just to give an example, if you did a test on people who have no other job and only makes money via day trading than you would see that there would be more people profiting, there would be a whole lot more than 0.4% that makes more money than a bank teller.

However, most people do it for side business and just fun of it, at least half of it doesn't even do it with knowledge, they do it without caring what they are doing and without learning what they do is true or not. At the end of the day its still a quite risky job, you have to really know what you are doing in order to make money and realistically there is not that many people who know what they are doing.

I agree about day trading for a living. From what i see, a lot of people already successed by trading when they are really expert in it. Until now i am still learn how to analyze and make right decision in day trading. And then my plan is how to set my mental so i am not panic and then can complete what i need to do daily trading. Because it will be better if we learn by doing in trading activity.

Yeah this talks about equity futures market and even on forex or stocks and other similar traditional markets we've known in the past but lets talk about
Crypto which i highly believe that it do have higher percentage for you to survive that day trade due to high volatility that no other traditional markets can compared of.
Do you agree with my point? 0.4% success is only for those markets but never ever with crypto.

Day trading requires a lot of practice and of course since you will depend on your profit in trading then you must be good on that. You can earn higher profit if you have the best experience in trading and have more patience, in cryptotrading you can become a millionaire in one year. So if you want to succeed, you must plan for this and don’t rush to learn.

day trading for living is a bad idea on many levels
firstly , you cannot put your financial stability on the line , daily trading will require you to quit your main job or not to be able to focus on your trading
and quitting a job with   maybe low but a stable income is rarely a good idea
secondly , even if you trade like  god  , sooner or later  there WILL be force-majeurs , black swans and  market crashes that may make you broke
especially if you are margin trading
and the last but not least , if you belong to that chosen 4-5% who make profit , you'd probably be better off in some different area
like working as an  analyst or helping people to get rid of their investments at some big company like JpMprgan

Tip: it’s not about winning or losing. It’s about winning more than losing  ;)
Statistics bitch!  ;D

you don't even need to win more than you lose. you could trade with a 1:3 risk/reward ratio and lose 60% of the time and still be profitable. in a sense, that goes to the core of why most traders lose money---they cut their winners early and let their losers run, because emotions. the exact opposite of what they should do.

Exactly.

Is anyone still surprised by the statistics?

I mean we all know that trading itself is not for everyone and majority really sucks at doing it. Those newbies who think that they can earn easy money here got burned already. And no matter what bot they going to use, if they don't know how to set everything right, just a matter of months before they realize that it's better to gamble.  ;D. But thanks to them the money keeps flowing, and strong hands are enjoying the game.

That's a very small rate, I though it's higher because I believe that there are people who are making a living in gambling which is harder than making a living in day trading. The information could be  inaccurate, I don't know, but my own belief is should be at least 5%, because with the rate in the OP, day trading is not attractive at all.

That rate also explains that there's only few smart people in the space that are successfully making money through day trading, and if an individual does not possess the skills, he should not try as he will just end up to be part of the losing group.

Now you bring that up, it reminds me of clowns on social media claiming to have "invented" methods to beat the house by playing dice. There are always clueless suckers who see that as their last opportunity to make money by paying for these methods, especially when they see windows paint style edited screenshots of insane profit margins.  :D

People just need to admit one thing to themselves, which is that they suck at trading and stop doing it. It would save them a lot of money that they could use to buy Bitcoin and simply hold, the only near *risk free* form of investing here. Even if the price tanks, you still have every single satoshi. If you lose trading or gambling, you actually lose satoshis.

Some of them are too greedy to chasing bigger profit, and that is the reason why many traders lose their money in trading.
If they do that over and over, they cannot trade in daily because they don't know how much profit they should take.
Before we decide to do daily trading, we need to have a goal in how much percentage we need to take so we don't try to chase the bigger profit in one trade.
If we can get the small profit, I guess that is better than we cannot get any profit because the market fluctuations will always change in every day.
The emotion will be on our side, and we need to know how to control the emotion so we can trade with calm and not panic if the market is changing.
I am sure that we have a plan in day trading, we can use trading for a living, and we can get the profit.

in the end, whatever strategy you choose it is all about the amount of money you are left with when the day ends. for example if you enter with 0.1BTC and leave with 0.15BTC then you have succeeded. for example i consider my altcoin trading days successful because even with losses due to bad trades or my bot having bugs i made profit even when Bittrex.com scammed me and stole my bitcoins, i was left with more bitcoins in my wallet than the beginning.

Someone just wrote now in another forum that he has made 22,000 dollars already this year from trading bitcoin which I would not doubt, we might have thought he traded with large amount of money but may really not have but take advantage of the little fluctuation of bitcoin to start accumulating till he is able to gather the money.

I have been holding 1 BTC for a very long time now, and since I have been holding it, bitcoin has fluctuated so many times, that if I had traded with it, I may have even already double it by now, but because I am this type that believes in long term holding, I have failed to make over to always sell when it goes higher and then buy when it goes lower, which is what many of these people practice to make such money.

In 2016-2017 the year when I do day trade it was easy for me to get a profit of $50-150USD/day, but everything changed when entering 2018 the price changes very quickly made me experience a lot of losses.

From all this I learned the lesson that the most difficult to control from day trading is greed and also the ability to manage emotions when things don't go as expected, and also day trading makes me think I will continue to earn money so I forget to manage my finances well.

The most important think is day trade never practice about the trade and check the market news, only thinking about profit and profit.

I already know that there is only a small percent chance on relying on a day trade but I didn't know that it would be less than 1%.
I already tried it before I manage to make some money from the first week but once you've slip or fail on a trade it would pull down even your profit so for me it isn't really good to rely on it.

you can't really make the conclusion based on trading in cryptocurrency market specially if you are doing altcoin trading because by nature the altcoins are unpredictable because of their high levels of manipulation. consequently your results will never be good in altcoin market so you can consider it natural even.

Being a day trader is really difficult indeed, someone just make a confusing strategy and they will repeat again and again. Yeah most of them will choose the same strategy when they start, it has happened in my whole life long time ago until I decided another strategy and choose weekly trader or come in when I believe there is a good time to start.

For the first time is indeed I decided to make day trading as my source income because I have read a lot of experiences from another trader which I deemed they are an expert in trading field. But it was wrong after I got lost a much rather than I got profit. That article can be made as a reference for those people who still assume that trading is promising place as their source income.

It's depend on what type of trading do you gamble.

Crypto and stock trading, the risk greater on crypto trading.

Day trading or long term holding, both of them can made money but it really need the time management and patient to find the opportunity !

The choice in this case should be a no-brainer, because in Bitcoin's history it has only unprofitable to hold for an extremely short period of time, while trading generally yields a loss when it comes to average joes.

As Warren Buffett says: the stock market is a device to transfer wealth from the impatient to the patient. I completely agree with that. Get rich quick noobs continue to burn themselves trying to make a quick buck. So stupid.

People should think about it, what has given you similar returns before Bitcoin's existence? People were happy with 5-10% annual gains. Today they are so spoiled that even 100% gains are almost considered low...

Everyone should think of day trading like a sidejob and not something they do for living. You are forgetting that there are TONS of people who are single and not married or do not go outside as much as others (and they may not even want to, introverts are actually really chill people) and that is why they spend time at home after work hours.

Some watch netflix, some read books, some play video games, and some of them actually trade, not a huge number of people for sure but there are those people and that is why I honestly think that those people who work and earn a salary could potentially do day trading at home when they get a chance and that is not a bad call, sure they may end up losing money but if they are smart and not risk too much they are still ahead of people who gamble during their free time.

Traders saying like ignore that, it aint real. Just so to not remember what is the truth which they also experienced.

Yes this is real. You might not profit that much everyday or if you will then you will lose it just later on.
You become more greedy and take that profit to gamble again then maybe make 2 days of day trade effort. Then you lose.

That be sad. I want to be a trader but hearing this, I'm thinking that it might possible that I belong to those 97% traders who are a loser.  ;D

Anyway, we can't say that failure is not the reason to quit and stop from what we aim for. In my self, I'm not really confident with trading because I don't have enough knowledge in trading nor to have that high level of skills. Maybe I have a chance to make it right but what the market looks too difficult right now, I've changed it...better to be a simple crypto holder than to risk in trading.

I know it's real because I've watched hundreds of traders come and go in my groups/chats over the years. In my anecdotal experience, I would guesstimate at least 80-90%. Most traders blow up an account or two then disappear.

Statistics like those in this study are nothing new either. 20 years ago a study showed 70% of day traders lose all their money: https://money.cnn.com/1999/08/09/markets/daytrade/

The 96% number has been floating around the forex community for ages too: https://www.msn.com/en-us/money/savingandinvesting/forget-forex-trading-here%E2%80%99s-a-much-easier-way-to-become-wealthy/ar-BBV9KlR

There are obviously more losers than winners but there are still some of us who emerge successful. ;)

Everyone of us has this dream job,but also everyone of us knew how risky Day Trading was and many much people had already quit trying this and Hard to accept me as well had already quit

But with this sharing I think considering to return back and try is an option for the following days to come

---

Anyway let’s make this thread as a sharing our experiences in the next days of trading

It's one of my plan when I get older and everything was settled and I can sustain our daily living with the businesses that I'm establishing right now, I'll focus on day trading.

I'm prepared for the losses that awaits for me and I'm aware of the potential profit that I may get as well. That's it, day trading isn't for everyone and with my plan, I don't know when I shall execute it, not for today and not tomorrow, maybe someday in the future.

The less money you have, the riskier strategy you need to have and the more likely you'll burn yourself. That's why most people fail sooner or later.

@exstasie you’re absolutely correct about traders as it’s very difficult to make money in day trading, however it seems you’re an expert on this so would you share some tips for all of us.


@jossiel that’s a smart plan because if you loose you won’t have any regrets, but if you make profits you’ll live the rest of your life like a king.

That's correct because majority of us wants to earn a good profit, therefor with small money, we need to take a bigger risk by being more aggressive.
Day trading is not an easy job but it could easily give you consistent profit if you will be successful in this venture.

Everyone who trade wants to be profitable especially in day trading, but the reality is not good since majority of the day traders are losers.
That's why I myself just prefer to do long term trading than day trading as I also experience losing and I realize my skills is not yet enough to be profitable.

Day trading would be a great job because BTC is something that I’m hugely passionate about. I just don’t think it’s something that’s realistic though. It’s borderline gambling & I can see most people ending up getting burnt. You/we don’t control the market so it’s impossible to come out in profit all the tike & if it’s your job then you need it to happen more often than not.

I am not an expert trader. I keep track of my trades before in an excel sheet and I can say there really are days when trades are really bad that you just want to sell even at loss or just hold for a long time until the price comes back to where you wan’t it to be until I realized aiming for a lower profit daily will keep you away from losing money.

Before, I set a target of 5% then sell but when the price hits 5%, oh hold on let’s wait till it reaches 8%, then hey wait a minute, maybe 10% is not bad until all of a sudden, shtf and price dropped and are caught off guard, it’s either you sell at loss or hold and shift to long term holding.

Nowadays, I set a target of 2.5% then sell, I don’t care if price will go beyond 2.5%, i’ll collect my profits and move on to the next day, new trading day, new coin to buy.

Having patience and day trading are not a good combination. When you day trade you need to be fast if you wish to make profit, you need to have a good timing for buying or selling a coin you trade with.
Day trading and gambling are pretty similar, both need a good bankroll and both are risky. Nobody can expect to make money everyday in a long run.

I also use day trade to finance me for sometime but without bot, it is kinda hard.  Since we have to check the trades every now and then.  Aside from that manual day trading can never beat bots in terms of price adjustments.


I think patience is best suited for day traders. even though the trade may happen in fast phase but having patience and knowledge on when to sell and to buy during those trading session is a great tool in raking higher profit.

You need patience in daytrading exactly like in trading on higher time frames. Patience is always projected on the timeframe, if you trade on 5 minute or 15 minute timeframe, normally you trade the period f.e. 15 minute chart, a period is 15 minute. if you trade on 1 day chart, the period is one day. Patience is still needed otherwise you will lose money in the long run. If you expect to make money everyday... you already lost. Daytrading or trading in generally doesnt mean you have to make money everyday and its not needed to make money everyday. One some days you will lose, successfull trader know when  they have to stop. The market is still alive at the next day ;)

Mindset on this kind should really be have when you are trying to day trade or even casual trading generally.Emotions will normally take impart into any situations that we might faced on.Thinking on profitability is never been ideal because this will destruct your own way of trading,its always been better to think off on your traditional trading patter and don't focus out on possible outcome.Stay focus and don't get disturbed nor destructed with your emotion because this is the primary reason why we do mess up midway.
Shorter or longer time frames aren't really that different in terms of difficulty because these both tf will involved crucial decision/patience and discipline.

It serves to have some trials to test our capabilities but somehow we are likely to lose something before then. We can only appreciate trading if we are fully engaged with but with the risk of this, only a few are eager to learn and survive while many we're disappointed for their losses.

And you are right, not all of us are destined of becoming a trader, just like to become a businessman. I hope this will be clear to everyone. Not just because we have a plan but we are not capable of it, it is still useless.

I don't want to use day trading as my job for living because I know that I need to learn more about trading so I can earn money from trading. I am trading when I see the market can up and down in a day, and if the price stuck in one level, I'd better stay calm for a while until the situation gets better. At this moment, I see that I have a chance to trade by selecting many coins and I check at the market, there is a good sign to up and down in a day, so I think I can make a profit.

You really do not need an excel sheet anymore, you can literally download your trades from the exchange itself, that is excel too but at least you don't have to keep track of it, they are giving it away for free, you can get your previous trades and that way you can actually make a system where you can see what you did wrong and what you did right etc etc.

I always support people checking their trading history, there is literally all info you can ask for, what price you bought, how many you bought, how much fee you paid, then how many you sold, at what price you sold, how much fee you paid etc etc. That way you can make your calculations, there was a guy who turned binance trade history into some sort of graphical thing on excel and that really helped me a lot when I first started.

At least you know your skills that it's not enough yet for you to be profitable doing day trading.
This requires a lot of skills, your friend here is more price volatility as that will give you more opportunity to trade and to earn a good profit.
With skills, you will be able to predict the market movement very well, and you may not be perfect but your overall performance will surely result to profit.

And I hope also that you've learned from forex trading. You'll be facing another challenge in your trading life and may crypto will serve you as a recovery tool from the losses that you've made with forex.

Basically, forex trading is quite similar to crypto trading, we still have strategies and TA's but it makes different in here is that we can choose different coins to trade and exchanges. It is not the confidence that we should have because of how you fail in forex will it may happen again with you in crypto.

I agree with you sir, the fact that there is money in business will not mean that everyone should go into it, there are some people that are not business people, and when they dip their hands in the business, no matter how much they try, the business will still fail because that is not their calling.

Everyone all have an area where they are best at and I think to be a trader actually needs passion, as in you are not only after the money, but you also derive joy in actually trading and you have learnt so deep to the extent that when they wake you up to trade, even in the sleep you can do it, but if we are just into it for the money alone, we may never be able to really trade in life. There are so many other opportunities in cryptocurrency space than trading and investing.

It can be diferent. You can chose 2 paths. Or research and invest and hold. Or scam peopel and take tehir money. With daytrading you wil just lose.

Yeah this is every cryptonians dream ,but also this is many investors nightmares because only few has become successful while lots remains failure
With people I met here in  crypto i can say that there’s 4 or atleast 6 who’s gaining continuously in day trading while us the remaining still not lucky to earn good.

Well just make the difference and you’ll see in future that crypto turns profitable for you also(sadly not for me lol)

It depends because i do have some forex trader friends on real life that do able to live with their trading profits.It not might give assurance on daily profits
but somehow they do able to withstand and support their daily needs which is awesome and im pretty sure that there are traders out there here on crypto would able to do the same.

We might able to see that this is nearly impossible but its totally possible.It would just depend on how you do trade up and manage your funding that can sustain up
on any possible situations that might faced up.

Just to be sure and to be safe.

Day trading isn't really an ideal thing for everyone but to those who are into this are passionate and knows the drill. If ever I get more losses then it wouldn't be hard for me to recover.

Because I have some other sources to lean on. I don't intend to live like a king, I just want to extend more source not just with crypto but also in other businesses and ventures that I'm interested with.

You can be a full time trader and investment as your otherside income .. with that scenario you might will have a plan B in case your day trading in trouble such as having a huge streak loss, make a living through trading alone is something that take a courage, a bit risky but once again the outcome at some point that risk would paid off.

I insist that day trading for a living is something not impossible, you just need to work hard to become that the rest of 97% who loss ... to become the 3% ... a special one who successfully make a living through trading based on that research.

I just love to challenge myself rather than living in a comfort and flat zone.

The study is based on the Brazilian equity futures market. I don't want to say that day trading is easy or something like that because i think it's easier when it comes to crypto because of the volatility. Of course many get-rich-quick people lose but with a reasonable portfolio, one is able to make a lot more than $54 per day if they are disciplined unlike when dealing with equity markets.

It would be nice if we also saw a study on crypto day traders.

 
they say two is better than one so yes  .having two or more other source of income is good but not really adviceable only if you already have a stable career ( not trading or day trading ) because those jobs are risky or not stable at all   . you can say that you are good at trading or you are a good trader but you dont controll the market . @EdenHazard  , where did you get that statistics ?  97 percent are looser and only 3 percent are profiting  ? the number is unbalanced  . trading is hard but there are still possible earners  , i think they are over 40 to 50 percent of them   .

stock trading is relatively easier because of the markets that are more predictable
crypto is too volatile and even the best of the best cannot account for the black swans ( that happen more often than the white ones , haha )
and the rule of thumb is simple: if you are not confident to do trading , buy and hold
if you think you can make money from daily trading , try it for a month and see the results
I'm sure 95% will be discouraged after that period of time spent trading

Not sure about living that can be fulfilled only from day trading, because only with day trading we will not easily get large profits that can cover the necessities of life. So, it is not appropriate if day trading is used as a main source or for living, even though you are someone who has a lot of experience in trading, but to get a better profit will certainly require more time and good research.

I really do not doubt this report because it is not so easy to go into day trading , trading daily will actually involve some high tech pro traders, and how many of them do we really have, many people that you see today that is going into day trading are just leaving on speculation, because the volatility of bitcoin is too high and which is the reason why many of the day trader facile, and considering the fact that there is limited time to actually make enough analysis that will enable one know the best spot to buy and the best spot to sell.

If one is to trade, I think trading occasionally is the best or better still one just holds the coin and wait for the time it will increase provided the coin of our choice in one with real use case. I would not advise anyone to really rely on day trading as job.

Yep, I believe it.  It's almost like going to the casino, playing the slot machines and expecting to make a living from it. 

The only way I can see making money by day trading is if you used fundamental analysis and didn't do a lot of trading.  Kind of like how Warren Buffett does it.  I took a class in corporate finance in college and the professor cited some statistics about how it's near impossible to time the market and that the more trading you do, the less you earn (because of all the associated fees, taxes, and whatnot).  And boy, I am inclined to believe him.  Buy-and-hold, baby.  And you have to pick the right investment, too.  That's the hard part.

LOL to the tenth power.  You'd have to be starving and living in Venezuela to be satisfied with a return like that (and no offense to the suffering Venezuelans intended).  Your statement supports the study pretty much.

Yeah, I'd like to see something like that as well--using real crypto traders.  You could simulate a study just like with the stock market, but I'm curious as to whether any crypto day traders are actually making serious money.

Let's put this in perspective. The study was on Brazilian traders. The average monthly income in Brazil is 2286 BRL, or 550 USD. (https://tradingeconomics.com/brazil/wages)

So as it turns out, $54 per day is triple the average income. That seems respectable enough. Granted, only 0.4% of those studied managed to eek out $54 per day or better.


I'd be curious too especially given BTC's price trajectory from $0. It wasn't until 2014 that there was significant liquidity for shorting the market, beginning with Bitfinex.

I am more of an investor/swing trader. I wouldn't have nerve to trade daily. But i've always thought that when i make money, it's because others are losing money. So i am counting myself in lucky few percent when i am not losing.

He might pertain with forex trading with those comparison of winners and lossers https://vantagepointtrading.com/whats-the-day-trading-success-rate-the-thorough-answer/
Success rate and failure rate would be definitely different here on crypto just like on what others said.No one can controls the market but with cryptos volatility getting up profits on a short span of time do have higher success rate than stocks and forex.Yes, it do looks unbalanced but this is indeed the reality and how the market works.
If there were earners there would be a large part of losers yet we know that this market involved between sellers and buyers and only the smartest and wisest trader out there
would end up on profiting.

Lucky for you to gain some profit despite of the market situation, although a daily traders will having a hard time in this type of market. They say trading is just like gambling because when you gain a profit someone is losing some money. Perhaps you could call yourself a lucky person because you haven't lost yet.

About people's lost behind our profit, i think it is someething that don't need to make serious. I mean, when someone do trading, they not only must understand the risk and prepare for anything which happen to his investment. In other side, who sell in a price sometime is buy in cheaper price and i think we don't need to think about that.

A big part of day trading is how much your commission fee is. If you can trade near commission free you will be able to profit easier.

This might be true for stocks or some types of option brokers but for Crypto the fees are very low. So if you are not making money due to fees you are basically scalping way too much.

Look at Bitfinex, it has 0.2% fees for takers, lets so you did a maker and a taker trade, your total fee is only 0.3%. At a base price of $10,000 of Bitcoin you only would need it to change $30 which is very little compare to the daily range of Bitcoin.

Stocks are different because you got exchange fees for removing liquidity, brokerage trading fees and the spread might be larger on some stocks.

You might look at the op's post .. clearly based on his source it is mentioned.

Of course It's always not advisable when it comes to taking such risk to go full time trading while you have a steady income (work for someone's else wealth for me is against my principle of financial freedom  ;D ) , it's your life and the choice is yours anyway ...

There's no easy way to achieve any kind success unless you are lucky enough which you can't expect anything about that lucky factor , so get your ass up and work / learn harder !

Once again I would say that a day trading for a living is not something impossible,  it is not a myth ... you just need to beat that numbers of '3%' mentioned by op.

What do you mean by commission fee in day trading crypto ? If you are talking about the transaction fee or trading fee, that is very low and trader normally do not consider it.
Or maybe you are trading on the behalf of someone and talking about the commissions which you get by trades made for others ?

This is to be expected, those that are capable of earning enough money with day trading to pay their bills and other expenses have decades of experience, for some reason some people believe that it is very easy to make money in the markets when that is not the case and not only that they try to trade without reading any material related to trading so instead of suffering some small losses and eventually quitting the activity they lose it all and many never recover financially from that mistake.

Requirements, Do's and Don't on Day Trading for a Living.

• Good sum of capital is a must if the earning out of trading is the primary for living
• Even if the profit margin is low go for it, because market can change in any way
• Go through few exchanges and choose differen exchanges for different altcoins
• Keep yourself updated with the different trading strategies followed by pro traders
• Always have alternate plan while trading, as the predictions and market move varies
• Prefer top listed as well as coins that have got good trading volume
• Prioritize coins that fluctuate within limited range

I know trading is all time helpful for our life we can get higher amount of money from trading then we get from our regular job. But we cannot neglect the reality that trading is not an easy way to make money we will have to gain knowledge and read about trading only then we will be able to taste the real profit of day trading.

There is a chance that it is 90 percent right. ;D

Trading is not like every newbie thought it will be.
There might be some sweet words in youtube but that doesnt mean you will also get what they had.
With all the movement of the market it is difficult to predict it. Better just get a day job than expecting a good trade which happens like 1 every 10 sessions.

Ive been trading for the past 3 years and believe me there are days when I cant trade even when I want to because of the market situation. If the trend is going down, why would you risk your money in trading? Thats already a clue for you to hold on to what you have for the mean time and wait for the market to recover. Thats why I believe day trading cant replace your day job.

YouTube tutorial for cryptocurrency trading has gone for long now and most of those who tried the technique are now crying and leave the daytrading strategy lol
That’s it mate,we must not treat this as a feeding material because this is not for all people specially daytrading ,not unless you can afford to hold when time that your coin drops then there’s a chance you can succeed here

I also trade, it's just that day trading is quite difficult, and even I find it very difficult to use it for the necessities of life. we do not always benefit from day trading. Exactly, that is because it is caused by market conditions. so, when market conditions are not in accordance with what we think, it will stop us from doing trading on that day.

because of this, I think day trading cannot be used for daily life because to make the most optimal trading is to wait for us to make a profit. I suggest getting a job to make ends meet, and use trading only to earn extra income.

Day trade is very hard to me
I am in day trading group on Telegram
They are mostly use Bitmex Derbit margin trading but very few of them are really wining
I prefer to look high time frame and trade mostly daily chart or 4h chart
Now day trading is very high risk because market is so tense after last sell off

Daily transactions are difficult, and need a lot of skill. They need to constantly collect information and learn to read price charts. I used to be a daily trader, but I had a big loss so now I switch to long-term sending, hopefully in the future I will get profit.

I personally don't support spending much time on trading but daily or long term form of trading won't yield better income if the trader is not diversified with his trading research and investment because the crypto market momentum is not stable and can pose any trend at any giving time.

That is right, day trading will cost too much time to spend and that is very stressful work. I can't consider this is worth having a source of income for living. The market is very volatile any time it will pump nor dump. Why not find a job for your living to have a stable source of income and you know you will never be an experienced failure. I'd rather to invest long term and hold than to work in daily trading, it is very risky due to unpredictable market.

This fluctuation is the reason I am not all out looking for income from trading, working and earning a steady income is more beneficial for everyday life.

Sad to say but I am a witness about this reality,4 of my friends tried so hard to become a “Daytrader”only to realized that they are not gaining even cent but losing is what they’ve got.the 4 of them do daytrading together ,sharing TA from threads or “experts” combing their knowledge about things they must need but in the end?failure is what they got.and they end up losing almost 80% of their capital.for me these Daytrading thing wasn’t for everybody ,and not because you are knowledgeable in crypto it means you will be a successful trader because it’s not and I can assure for that

I don't think this will be a good idea and ain't to be considered as a passive income by now. It eventually many people tried to trade but somehow they lose and put blame themselves. It is only good for those people who have a dedication and really have a good market understanding, and much better if we are in focus within.
Now, if we are trying to be one of those successful traders, then we need to find our self if we are capable of doing this or how much get prepared for any possible results in trading.

Even the professional part-time traders hesitate to leave their daily job and joint the world of full-time traders. Living from payheck to paycheck is not going to make anyone rich but having a deep understanding of the financial literacy will help the average people to get in the finaicalm market trading. Starting from the part-time trading, dedicated people increase their standard market risks per trade and the result is not as good as in the old days. From my experience, having a successful trading history and positive statement for the last 3 years can be the reasons why the trader should start to feed the family from the funds he earned through finical market trading.

I don't really believe in data that says only 0.4% do actually make profit from day trading because there all around about people who are making good return on their day trading in crypto currency. But if you said such percent happen in playing gambling then I will some how believe your report and not day crypto currency trading.
What traders need to Know is the strategy that work for you and be ready to stake to your strategy.

Cryptocurrency trading is even more profitable than Forex trading, in my opinion. It is not as profitable as it used to be though but it's still OK. 
I am beginning to think that profitable traders are those who can sit many hours without distractions, observing multiple exchanges, go through charts, researching, etc. It takes alot of patience, sacrifice and hardwork to stay that long. 
Normal trading is not totally based on luck. You can make some correct predictions if you study the charts well.

Yes, I do believe that. It is still better to put up a business and bet your money there than investing in stocks or crypto when you don't have a lot of money to back you up when you lose it.  But I guess people like me just want to to take a shot in crypto and be an instant millionaire and that is why most of unemployed and broke people are chasing many shitcoins.

If you're talking about transaction fees, it's very low. I usually trade at Binance and it only takes 0.1% for each transaction. If you have BNB coins then you can choose BNB to reduce 25% of transaction fee.

Indeed the statistics probably not 100% correct and not representative as a whole traders but according to the people experience then lately it's very difficult to get profit from day trading and me too as a witness of my friend that he was give up to do day trading and lost almost all of his initial money

Will it supposed that everyone chases that opportunity and aiming to become a millionaire in just a day but it looks impossible. It is really difficult to stay in the line when we don't have enough money to back-up especially when are in the market struggle and it for sure we can't take it long but to quit. This is to think that most successful traders are millionaires as they have capable of.

This would be very risky decision. Day trading is very demanding and risky, only few are successful in it and to make for the living with day trading is something that only few are capable of. There is no guaranteed profit and no matter how modest you arr you can't be sure that you will be able to earn enough to cover all your needs and expenses.

Interesting stats as it entirely reflects the effects and realities of day trading. Contrary to what you posted, I have seen positive results based from my experience and from my peers also. Day trading is definitely risky especially if you consider the amount of capital, experience, and patience when it comes in looking for opportunities. But it also depends on what kind of goal you have as a day-trader and your limitations on the extent of loss.


I usually trade if I have the extra capital to do so. The dangers associated with day trading stems from your losses as you are inclined to recover from it. But once you get to experience the actual trading, it becomes relatively easier. It is essential that you observe the market frequently to know the current trends so you could base your decision from facts.

Solid advice, but to all of these I will add to keep your expectations in check, one of the most common issues that new investors have to face is that they have ridiculous expectations about the profits that they can get out of this market, there are people thinking that they can earn 1000 times what they invested in less than a year if they invest in the right coin, there are others that think that they can double their money in a week, and it is people like that which suffer the most when they invest in useless coins and they lose their capital.

not as easy as it is done, for me trading is just to fill free time, because for me work in the real world is much more fun because we can communicate with friends directly even though they can use Video Call but it feels different, for that I choose to trade in spare time , although sometimes win and loss, but for me as long as there is no continuous loss. use stop loss to anticipate.

To take advantage of the Bitcoin market by trading and live of it, of course it is possible, but it must be taken into account, that it is not achieved overnight.

Many traders when they start doing their operations focus on how much they will earn, and the right approach would be: How much are you willing to lose? When trading is seen as a way to get rich or a millionaire, then it is better not to trade.

For me, the correct approach to trading is to see it as a business, just like any other, in every business, annual profits of 20% are expected, maximum of 30%, this according to the return on investment calculated under your previous investment. The advantage of the bitcoin market is that in just 1 operation you can do 20%, from there you have to begin.

When you have a trading plan and you see trading as a business, we might already think that you can pay the minimum earnings to live, it is not impossible, it may be difficult to get there, but studying and having a mentality focused on Market can be achieved. A very good technique is how Jesse Livermore did, every time he made a profit from his trades, half of what he earned, he withdrew it, to feel the money, enjoy it, travel, spend it, not everything is to invest and invest and operate, You have to feel the money.

Yes, it is true that most of day trading lose. It is also because of their instinct about the market, even trading can also require you being lucky because once you are not lucky enough just like in gambling then you will surely lose. Your analyzation or instinct will also be nonsense.

Crypto trading is hard to predict at the same time we never loose our investment because we already fix the perfect schedule. So once it will start dump automatically our investment is protect in trading platform. But gambling is little different from trading so once you fix the investment we loose more investment. I think they also beginner in trading so that statements are never useful for me.

Success of the day trading comes when you have funds in the wallet as well as have a source to meet your daily living. If you're dependent completely on the profit out of trading for living, you'll be in a situation that you need to make profit. This will surely force you to take immediate decisions which causes loss and not profiting. Good is to move to day trading after good learning as well as after earning good sum of money for your family.

the journal observes futures market in the Brazilian equity futures market, it means that is not necessarily same result with cryptocurrency
because cryptocurrency and futures market are very different, so it can get different result.
yeah i know the jurnal just wanna tell us that is hard to do day trading for a living, but in crypto can be different.

It's more on related somehow since players' tactics in different market are also available in crypto market. What the article is trying to tell us I think is that we shouldn't be hopeful that we'll be able to day trading to live all the time; we shouldn't assume that we'll belong to that small proportion or percentage of gainers in this type of field/business.

Why would someone sell at a loss, even if you are day trading and if the market does not gives you the valuation you are looking for and the market goes down, why would anyone sell their coins at a loss, they can hold their coins till they reach the target price, people who sell the coins at a loss are the biggest fools and they have no business trading.

I think for people who do day trading, sell and buy other coin usually be option in their strategy. It is like when you see other coin can give you profit in shorter time that your coin for now. I think a lot of strategies will they do to get profit in short time.

Bitcoin trading is the most profitable form of trading than other than mode and with Forex trading you will get only minimal profit and the risk is also minimal as you wont see any major volatility in the market but when it comes to bitcoin market the risk is higher as the volatility is higher and the profit is higher.

Welcome to the new world of bots taking care of your assets, no one will be manually doing any of these process, learn how to program and create a bot, it is not that hard and it will trade according to your choice rather than you waiting and draining yourself  ;D.

at this time I prefer to do long term trading methods or can be said to be living because I have a busyness that can not be in the real world so I can not monitor the conditions of the exchange, I better trade with ease and not too influenced by market conditions, only need to place a buy order and sell order is very enough.

I will agreed that majority of the estimated 97% traders that loss their money are newbies and inexperienced trader I had seen forex traders of more than 30 years in trading having a sound knowledge in it, every dick and harry who are new in trading believes trading is a get rich scheme without any money management and mentoring thus get involved in it invariably losing all their portfolios at a go, trading encompasses deep knowledge in money management, emotional and psychological management to have an edge over the market.

I think that study are only for newbies who tries to day trade which they are not used to day trade or not an experienced trader. Doing day trading for a living is really risky because you could get empty handed and it is difficult to watch the market chart 24/7, but if you are an experienced trader you are already aware to the risk of day trading that you can control your emotions without panicking when the market is down, and you already know how the market works that you could minimize your losses and earn a good profit everyday.

I seldom see people that trades saying they trade for a living. I known some that have no jobs but they have their own business too. The other full time traders are acting as gurus and are selling their strategies. I think they earn not because of trading but because of selling their strategies which probably didn't do well. No need to speak in front of many people and travel on time when you can just chill anywhere in the world trading. So you are right. There are only a small percent of people that trade for a living.

Day trading at the present time is very risky there are a lot of people who lost their money in day trading as the market in this time is not showing any upward direction, only experienced traders are successful in these days as a day traders, now a days long term holding would be perfect decision, and when the market go on pump then day trading is the best way for living because at that time everyone could make money from day trading.

The fact that the percentage of losers is so high makes me think that day trading is kinda rigged - those who have deep pockets can influence the price on small scale and profit off it, while the rest simply trade to give money to these manipulators. If day trading was random, the win/lose ratio would be closer to 50/50.

The bearish market makes lots of day trader to get rekt that's why most people are longer day trading for  living,  even lots of twitter dudes who give calls on trading signal are no more giving out calls, till the market recovers before lots of people will consider day trading for a living

Current market conditions cannot be predicted today, the market is green, it may be red tomorrow, trading day will indeed make us lose if we do not know which coins will remain up, but many suggest it is better to buy bitcoin from now and do long-term trading, and it has become a trend when market conditions like this.

Actually it's very very hard. Actually trading is a game which consists of snatching money from the small uneducated traders to smart intelligent traders. This snatching is absolutely legal. But the thing is it's hard most of the people don't know how to do it and those who know would never tell. It requires consistent practice and hardwork. Moreover it's true that only 1% make a fortune but that 1% draw the capital of those 99% of traders so you can just imagine how much money they make. People can make fortune out of it but it requires patience and time.

For long term aspects then this would be the best choice but for a trader that does depend its living on trading profits then he would definitely need to be profitable on shorter trades.Making a living with trading is really the hardest part and as said you cant really make constant profits on daily basis thats why you should know how to handle up your funds that could able to sustain no matter what would be the situation you would face off when it comes to finances.For now ive been still practicing myself to be sustainable on trading world because i can really see the advantage if you do already got this kind of skills.

Don't daytrade cryptocurrencies and don't listen to advisers who manipulate you into day-trading as well, they tend to act as oracles and then use that asynchronous info to manipulate the markets. There are whales and traders with asynchronous advantages over you so you are at a disadvantage and will likely lose money day trading.

Day traders find that they become obsessed with checking the price and end up spending most of their productive time looking at charts instead of working for a salary. Also you will be exposed to a lot of capital gains taxes and complexity vs just buying and holding for long term investment. Every single time you make a trade between each asset is a taxable event and tracked and reported on an exchange. Day trading also forces you to store your BTC on exchanges which is very dangerous.

Well said, day trading is perfectly good for large volume investors. As the market is manipulative, those with large volume of funds will fluctuate the market and profit out of the same. Day trading for a living is completely a hard thing, but if we have patience we can profit out of trading based on the investment.

Day trading is good, but we should not just rely on it as we have said market is manipulative as it is not regulated. Anytime, we can be rekt so let us not just stick to one coin/token, we should not do day trading as our only source of income too, it should be just our alternative way to earn.aq

I have never thought of having day trading as my source of living. It could be good as a part-time job but we can't rely our necessities on it. There's no guarantee that we could gain stable earnings especially when we only have a small capital to pursue it. Also, it requires skill and strategy so a person who wants to do day trading must be eager to learn everything about it first.

for now it is difficult to get a quick profit in day trading because market conditions are still often down and some altcoins are still unable to experience drastic increases, it is because bitcoin price movements have not risen sharply. and I think long-term trading is still an effective way to get big profits, most importantly don't rush to sell it and have to have a profit target to be gained

yes you are right in these days day trading is little bit difficult because of the market conditions as the market in these days are not in a condition to increase or show fluctuations daily that's why many people are not able to get profit from day trading, so day trading for living is not a good idea in these days i think long term investment is good.

    Short-term trading is the way for making profit, but you can't count on
drastic increases, it's greedy. With short-term trading you need to be focused
on making couple percents profit, not to wait some higher rise.
   There are good coins for day-trading. Bitcoin is one of them sure, we are
experiencing a drop, but soon price will recover. Now it's good time for mid and
long term strategy with Bitcoin.
   When I think about long-term holding it's good time for buying as long as price
is under 10000$.

While the majority of those that lost their money are without a doubt traders with no experience in this or in any other market there are also many traders that have years of experience and yet they lose everything as well, the markets are brutal one single mistake can be enough to wipe your capital and the longer you are in the market the bigger the chances this happens to you, and the only way to protect you against that outcome is to have strong money management skills.

It wouldn't be my first choice of a dream job, no.  From what little trading I've done in my life both in the crypto and stock markets, I find it way too stressful and I've never made money.  Being a day trader for a living would be like playing roulette for a living.  Too random and maddening.

But there are some people who can do it for whatever reason, who have the intestinal fortitude and talent to make money.  They are a rare breed, tho.

I think it depends on what they trade, on that paper they samples random people for 300 days in brazillian equity market. Maybe it will be different with cryptocurrency.
I saw many crypto traders had already become rich because the price movement from cryptocurrency is different from stocks, it more volatile and the profits would be so fast. Also the price movement of cryptocurrency market can be read and prediction by many fundamental factors such as from the news and events.

I cannot imagine a trading day to make a living, because the market is difficult to predict and really needs to have expertise in analysis and sharp instincts to ensure that the selected coins will be profitable on that day.
I trade long-term or monthly, always checking market charts, let alone trading a day and 24 hours and many times to always control the charts in the market.

I pray that it will always be profitable for those who trade a day and for the sake of earning a living.

Not all people can do day trading like professional. But a lot of people out there really think trading is easy thing, and then they leave their job to do trading. I think you are better than that people i mentioned. because when we can measure our abilities, we will not be careless in taking action. And for who want to leave their job to do day trading, maybe they not face how market is lack of volume, or stuck in a dumped coin for longer time more than they expected yet.

Yes it can be, as long as someone has enough capital for daily trading and reserve funds for daily life at least for 6 months - 1 year as a backup. The most important thing is experience in the trading field for years, if someone does not have expertise in trading, then better it's to choose another source of income.

you have mentioned the readiness to have 6 months of support or back up so i think thats more than enough if they can at least Hold for semi long term,ranked currencies fro 1 -30 usually recovers for a month of dumping so if they can make even 1-5% for month or so then thats enough earning if runs for 6 months right?and what if the bull comes before that half year duration?was not that a Jackpot?so its also depends on the market on how we will react and stand

Day trading for a living is a difficult thing for a common man who doesn't have much technical knowledge. Day trading gives the best when we have handful of earning for a better living and spend on other needs. Now when we get into trading we'll be free to take buy and sell decisions. The same can't be taken easily when our primary earning for living is the same.

to be consistent to live as a day trader, you must at least continue to learn new things every day, you are familiar with the routine checking routine, only need to change the strategy. Focus first on what percentage of daily profit you want. Many traders give up on the situation because of the difficulty in analyzing, but here is the important key that traders must actually understand all trading methods and their conditions, even including margins and futures.

You will not have a good day trading profit and you will surely lose here even if you are updated on every move in the market.
Unless you have a large sum of money to circulate in the market, or you are one of the whales in the market who can control the market and move its price up and down.

You are suffered because of less control over emotions as you said it is always stressful for you. You most probably get easily influenced by the decrease in values of your coins and fall for panic selling. If panic selling is your thing, definitely you cannot do day trading. The better option for you is to go with bitcoin for long term trading. As far as making living with day trading is concerned, there are traders who are doing so.

Best attitude is to buy at low $6-7k (last months) and sell at high ~$9k. This example was available only in the previous months obviously.
Daily trading require following charts every so on which is very time consuming for few dollars per $1k traded...

doing daily trading for a living is the most ridiculous thing
I have already said that daily trading is gambling, managing emotions in daily trading are the most difficult thing
I have never seen daily trading that routinely generates profits every day
better to be weekly or monthly trader.

Most do not realize how difficult it is to day trade and this is even more true in this market, the volatility and the movements this market can make in a matter of minutes are not something that can be taken lightly.

I consider myself a small investor and that is hard enough for me, I do not understand how those that day trade deal with the high level of stress that such an activity may generate and I have read some articles that many day traders do not last long no only because they lose their money but also because they cannot deal with the difficulty of the job.

But there's still people who continue scalping the market, trying even in a little pinch they can generate profits. Always depends from how traders
approach with risk and how they can handle it. Most of those who are doing this are aware of losing but still proceeding for the chance that they can
get from this trading style. It's achievable in terms of having a good system to follow and willingness to move forward whatever it takes.

Indeed, I tried to be a day trader but sometimes it needs more time before I take the profits. The alts that I've bought were kinda slow, so I can't really say I'm doing daily trading. I take the profits every other day or weeks.
Not to mention not everytime that I have good days, sometimes it had its bad days.

It's a really tiring thing to do, by watching the market movements for hours a day.

yes, I agree with your opinion if the majority of people who trade daily experience defeat. I myself do not have a dream to work with trading every day to live. I don't want to earn any income from trading, I will do other work if I think I will get income. from the income that I get, I will use it to invest in bitcoin for a long time. because I predict that the price of bitcoin will increase in the future. in my opinion investing in bitcoin is a dream that can make life better in the future.

  This is the major reason I am not inclined towards day trading. It pushes you towards restlessness and distress. You need to sit in front of your laptop all day long in order to make sure you don’t miss any chance of cashing out profits since the market of altcoins changes within minutes and usually altcoins are used for day trading. I will suggest you switching to popular altcoins and bitcoin for great results.

First time of hearing that someone whom doesn't want to earn with trading.

But isn't it when you sell bitcoin, you have traded it for fiat?

in my opinion daily trading is only suitable for people who have been in the crypto market for a long time, are experienced and have large capital. and some of them I think already have great wealth and assets. so that when trading and experiencing losses they will not be confused with money for daily needs. and for a beginner on the crypto market it is better not to trade because it is very risky. better to make long-term investments.

Same thing happening with me nowadays. Day trade seems very difficult because you can't be sure what is gonna happen with your coin as the crypto market movements are not stable! Within a few minutes, the Bitcoin price can be down over a thousand dollars! I am doing a short time trade. Recently I joined a paid signal group, honestly, after years, I found a true signal group! But yet that is not enough for living with the crypto trading.

Most proferssional traders are not just living with cryptocurrency trading, because the price of cryptocurrency is really speculative and it's hard to do a stable profits each day.
Some daytraders who living just by trading usually from trading countries currency and stocks, because they can't only rely with cryptocurrency trading because too risky. And also even joining paid signal groups will not guarantee you to get stable profits each day, trust me.

You need to have relatively large amount of cryptocurrencies to be able to live from trading. If you have $1000 or less, it will be difficult to get enough profit. Even if you spend half of it ($500) on some trade and the coin goes up by 5% which is not bad, you would make only $25 profit.
Better option is leveraged trading (for example on BitMEX). It means that you look for smaller swings in price and your profit multiplies with leverage multiplier. So if you choose 10x leverage, wait for only 1% raise and you will get 10% profit on your stake. It involves more risk though. You can also lose your entire balance if you position gets liquidated.

I have almost same issues with day trading. It is really tough for job holders to adopt this mode of trading for making some decent money as it requires a lot of time and concentration. Even if you are giving time but distressed or tired, you will definitely miss the points of withdrawal. I am in favor of doing long term trading with bitcoin and Ethereum since they offer nice profits without any stress.

It depends though yet not all people do had that kind of hectic schedule even to those who do have jobs do make some active trades knowing that accessing trading platforms
arent really that hassle anymore as long we do have our own mobile and internet connection.You can trade on the go and checking out actively your current orders.
Time and hard work is crucial and profitability would always vary on how you do seriously trade off since not all people do have the same mindset and decisions when we do trade.

Trading and bounty hunting both are same.

These both are really waste of time to invest the fund and we people should not waste our time in day trading. Partially we can invest in trading and learn something. If the luck is in your side, it will be helpful for you.
Else you need to look for other option.

You can't compare trading to bounty hunting. Trading is a game with other players on the market, and bounty hunting is performing tasks for a reward.

I tried day trading many times and unfortunately without good results. Of course, I managed to earn many times, but unfortunately they were not the amounts that would allow me to make a living from it.
I think there are too many bots on the market and unfortunately with them is impossible to won. I think it is more real but still very difficult to look for a chance for arbitration.

At the end of the day, personally I like how things are going right now. We are in the middle of a "healthy" pullback from the micro blow off top we had last October. We'll either find support at around 8.5k (the .5 fib retracement level) and bounce, or we won't and we'll pull down further. In which case, I'll consider putting a long term long with 3x leverage on Bybit. The RSI isn't oversold enough for me to consider doing this yet, but if it does reach that levels then I'll accept a long getting eaten up by funding fees for a bit.

And now that we had this wonderful pump, we can enjoy the start of the week together.

Bounty hunting is different in day trading they are not the same because bounty hunting is you can go and join signature campaign. Day trading can make a good profit once you know the strategy in trading you can earn money everyday. In bounty is join to campaign and wait for your salary when they give it to you. So its not the same bounty and trading are different.

I really believe that is what small traders are doing already, they realize they will never get the profits they want even with the huge swings of this market and they are using leverage to increase their profits, what they do not seem to realize is that no strategy is perfect and you cannot win all the time.

You are going to suffer losses from time to time and if you cannot endure it then the chances that you lose your capital are 100%, and yet this simple observation seems to be beyond the comprehension of most new traders.

I don't do daily trading because I think it's very risky and we also need to focus on seeing the development of the crypto market every day. and I don't have much time for that. because I have a real job that requires a lot of time so I prefer to make long-term investments rather than daily trading. and in my opinion, daily trading also cannot be considered a main income because the market is very volatile.

I think crypto trading is safer now than a year ago. This could be an alternative to replacing trading using fiat currency. Because prices are more stable in the market. So there is an opportunity to get profit even with a small amount. Try to look at the price of doge for example, from day to day tends to be stable. So why not try it by trading doge / btc or doge / usd ...

If you have a relatively huge amount of money then you know very well that trading cannot be considered as a way of living but an investment with a regular job or a business, you cannot make any profit if the sole profit is to make profit on a small window of time, leverage trading is one of the riskiest form of trading and if someone is seeking it as a source of income then they are bound to end up in trouble.

it has less risky if compared with another trading Investment.but to do that we have to analize chart carefully so our trade have good result.in this year price manipulation decrease alot than on 2017 when all cryptocurrency price rise extremely,but unfortunately in this moment many people trapped in peak price.for day trading there are many coins that have good volatility in 2 or 3 days,this is good opportunity to take.maybe we could earn around 5% from this movement.

Bounty campaigns as the word campaigns indicates are some marketing plans or similar things that usually offer you some good money in order to work with them whereas on the other hand, trading is where you work for yourself. There is no one paying you on monthly or weekly basis for doing trading. You make profits simply by applying strategies that you have learned and keeping an eagle eye on coins.

What a conversation! Do you people even know what you wrote here? You are high ranked members on this forum, but still, none of you knows the basic things about day trading and bounty campaigns. You should really spend some time learning before you start posting this crap! Honestly!
I wonder did you try daily trading, did you try to trade at all!?

The reason why most people can't trade for a living is because they have lack of capital. Sure you can start with $1000 and turn it into $2000 but how many people do you know that do this successfully in the long run? Probably no one.

This is why most people need to have a large 6 figure account so they can trade various industries and each trade is only a small portion of their account. So they can have a large position like $10000 in size and if they only make like 2% it adds up to $200. If you traded with a $1000 account you would only make $20 and most of that would go to the broker as trading fees.

So it's not only experience that is needed to be successful but a large capital also.

A decent amount of money is necessary especially since the days when you could invest a few dollars in a coin and then become rich are definitely over, but you do not need a fortune either.

What you need to do to eventually live out of your trading activities is to trade and to have a job at the same time, that way any profits you get in the markets remain in your trading account to the point that it will grow and you will earn more in the markets than in your job and when that happens you can begin to live out from your trading activities.

the big problem is capital, indeed, if you only trade with 50-100 $ maybe income can be $ 1 per day, I don't think it's bad,
you have to collect as much money as possible to trade, the more capital you earn, the more income you will get,
it is not wrong to make daily trading a job that is a profession now

Losing a trade by ending up in a stop loss is still not bad a deal. That loss can be compensated through just one big winning trade. Usually the risk reward ratio is 1:4. So by winning more than 20% of your trade can be rewarding. So a day trade can become successful as daily earning pretty easily if you can trade wisely and strictly follow your risk reward ratio. Dont think much about the overall trade win-loss ratio. That doesnt really matter.

That is very correct. Every person wanting to trade crypto must also keep abreast of the latest developments and news from the coins that we wish to trade. I get this new experience. Where do I buy doge at the price of 31 ... it takes 3 days for the transaction to take place. And now the price of the doge is actually going down a little. Maybe I need to find a market that has a greater daily transaction volume. Because for this daily trading it is clearly detrimental to me

It looks like your prediction didn't come true. This is another example that trying to predict sentiments on such a high risk market as cryptocurrencies is closer to lottery than to common sense. I like the comparison that the effectiveness of predicting the price of BTC or other cryptocurrencies is similar to dice game or hi/low . But unfortunately this is about money, so it is not so funny when we are not lucky.

This is not only important when you trade this is important when you invest as well, at the beginning of your journey it is going to be very difficult to get the money that you need in order to become an investor or trader.

You will need to make a lot of sacrifices but if you care about your future then you need to make those sacrifices, and the sooner you begin the faster you will see the results so there is no point in trying to save until the market conditions improve because you never know when that will happen.

No matter what anybody may say, i still think that day trading shouldn't be regarded as a living or main source of income. It is simply because shits happen and its more like you are gambling with your money. Why some people are lucky to do this as a source of income and succeed, it might not work for other. It takes training and years of experience to reach to that level where it can be regard as a living and this experiences involve losing lots of money in it. If you have nothing sustaining you during that time, soon enough, you will be on the street.

;D lol, what you say is similar to mine, I learned how to trade it took up to 5 years and all the trading techniques that were obtained require losing money and made my experience into trading techniques, even though I have gained a lot of trading knowledge it certainly isn't that cheap I share my trading knowledge with others, because of the learning that not a little money I lost to get profits in trading on the market until now, the point is never to make trading as your financial income every day because it does not look good

Yes I used to have that dream but I realize that it is so risky and one mistake could end it all.
I don't think that those people could really pull it off just think about it how much would day earn daily from their trades and the cost of their living expenses (bills,foods and also their transportation cost) ,
If they would only earn through day trading their capital would be eaten by their expenses alone and soon enough they wouldn't have anything to trade.

there's a point, because I've tried it myself, even gambling is easier to get a daily profit, because some games are predictable.
and it's really hard to get daily profits from trading for this year. unlike under 2017, market conditions are still very good. for now, I can at least benefit from trading can be 1 week - 1 month, even that only get 10-20%.
bitcoin domination will be increasingly difficult to make us get profit from daily trading.

The funny thing about that volatility is, that it took a month to erase the gains by the 1 day china pump in October.  :D

For chines people, it was the lucky day that price becomes high for them and I hope so many people took advantage of it as day traders remain in search of such a golden chance. Day trading is good and profit as too but it needs high-level knowledge and information about trading. If you really want to become a day trader must learn it well and spend a small amount at the beginning

I personally am a daily trader, and that is for my life. You are right, most daily crypto traders are a loss. especially newcomers. and those who are profitable are big players. but I personally can still make a profit, but have to make extra analysis. like searching for news and looking at chart patterns. because if only with feeling. it will make me lose. and very emotional.

Yeah daily trading is getting harder, I've been taking a break for 2 months, but that applies to altcoins trading. at the moment I'm more focused on bitcoin, bitcoin has great potential for daily trading with his fluctuations.

It all depends on how much of the percentage the trader taking profits I guess. if they are greedy they will be losing their money. but being a day trader in 2017 is very different, the day traders really can make a profitable from trade every day. so it all depends on each other's passion I guess. And for now, there are still many day traders who can get profits to finance their lives. the key is the only one don't ever greedy if you want to save your money when you take profit

Day trading is not really gambling if you know what you are doing, the greatest difficulty of day trading strives in knowing when to enter the market when there is a high probability that the market will go in the direction that you want it to go.

I know that this may sound like gambling since we are talking about probabilities but it isn't really like that in gambling it is impossible for you to select the probabilities of an event happening but when you are trading you can do it and you can decide to enter the market only when there is a high chance that you will win.

Don't get emotional, it's the number one adversary of the day traders.

There are other altcoins that's way better to trade than bitcoin. I'm a bitcoin holder and I choose not to touch it and just let the other altcoins apply day trading. Doge and Litecoin are good candidates but if you're better in that strategy, continue.

nothing better I think, everything has decreased dramatically, except doge may be very stable with very low prices. What makes you say that both of them have good candidates? maybe ETH is better than both.
I don't really like to trade doge , it's very stable so quite difficult for me to daily trade and gets profit.

It's my opinion and those coins I think are good and just keep your bitcoins for holding. ETH might be better but I'm also treating it to keep the same as bitcoin. But with Litecoin and Dogecoin, I'm okay with them if I would have a bad trade.

That's fine if you don't like doge, I'm only telling my opinion and as I've said, in whichever coin you're doing better, go for it and keep it.

Doge not good for some people but for me doge is good for long term trade, i always see the chart by doge its follow bitcoin price when bitcoin increase high price, it happen doge too
i ussually buy doge in under 30 and sell it up to 60, take 50 percent but have to be patient because need long time

If you want to become full time trader you should have other sources of income because if you do not have any other sources of income then you will be pressured to make money by becoming full time trader. What if you lose your investment? How you will pay your daily expenses? Consider the risks before you make a decisions.

This is something that many never consider when they decide to become day traders, the psychological pressure that you are going to feel when you are losing money in the markets is going to be many times greater than the pressure that a day trader with another job feels.

Because now you have no other way to make money but to beat the markets, something that is very unlikely because as we know the majority of traders never make any money, so anyone day trading as their main profession is taking a huge risk.

If you have day job and you are going to switch to become full time trader then don't do it. Trading requires a lot of time of studying and also a lot of experiences. Ask yourself if you can cover up your expenses through trading. Your money is at risks and increasing it through trading is not easy as you think.

Trading is not for all the people. It is very risky for the beginners. There is chance to loss the capital too.

But it is fun with a small trading portion of your size. The market is volatile enough to make a few good scalp trades per month.

Not everyone are looking for fun, they look more on the profitability where they are comfortable doing it.

Trading with lack of knowledge is just going into a suicide mission and although they will risk a small amount, its still useless if they can't focus trading.
Actually, trading requires time and effort as you need to be fully updated of the recent news and analyze the price movement in order to make a good prediction, when you are too busy with your real life venture like if you have a job, you will not succeed in this and therefore long term trading is fit for you.

true, besides that very many people are looking for a profit through daily trading to meet their needs even though it's not worth it. besides, even though it's dangerous, and not everyone thinks this is fun.
However, even though trading is very risky for a beginner, but without trying it, a beginner can never be someone who is an expert. I think if you want to try it, try with a small nominal.

In fact, daily trading requires a lot of skill and time to always monitor the movement of coins, otherwise a trader will lose his assets. In my opinion, living from daily trading may be for some traders who are truly skilled and have large capital. But for daily traders with little capital, it seems difficult because they have to divide the profits between to cover losses and take it for their daily needs.

Day trading is a big risk when you are doing it for a living. The crypto market is so unpredictable that one trader may keep continuing to lose money by taking wrong decisions.  And if living is associate totally with the trading then the trader is putting risk on his family in almost a single day. That could possibly disturb his mental health also.

with just $ 100 a day you can get $ 1 if you are skilled, but some people prefer to play stocks rather than crypto currencies, because in the stock market the risk is not too big, but the benefits are also not too much

It is not easy to become a daily trader for the current market situation and must really have full expertise, but that has become their demands because of what they have done and have become a choice and to fulfill their daily needs.
Although it is very risky whether they like it or not, they have to do it for their daily needs, and hopefully they always get good luck so that their lives are fulfilled.

If you have the capabilities of making enough money in the market to sustain yourself with such ease that it is even fun for you then you are one of the few people that can become day traders without any trouble, but for the rest of the population what you are suggesting is incredibly difficult, maybe you do not understand this because it is so easy for you.

But for the rest of the people being able to get all the characteristics that makes a good day trader is simply something they cannot do.

not necessarily forever if someone who always conducts daily trading activities risks losing money more often than getting the desired profit, sometimes he has an expected target every day if he is focused and careful to always be able to monitor market movements to get small profits. because after all, of course he expects to get a little profit because he has the desired target rather than having to lose money.

A mindset should really be like this one.All things begin on being a noob and to enhance out yourself with trade then you would need to experience things up.
Living with trading is possible but dont expect to be constantly profitable on daily basis.There would always a time for you to lose and success will vary on how you do trade up.
This is why only a few who do able to maintain such thing and making it as a living and the rest? Are still trying out their best but when we do talk about possibility then its really there.

In fact a good day trader could trade the markets without having a losing day during their careers, I know this sounds impossible but think about it, if 97% of the traders are losing money when they day trade then that means that the rest are getting all the profits.

This means that for every successful trader there are about 32 losers, can you imagine getting those kind of profits daily? I can and everyone else as well which is why day trading is so popular.

No I don't think that is true. I agree with you that there is a very small percentage of people out there that can successfully daytrade but most likely they do have losing days. I am pretty sure the reason why they are able to make a living out of it is because they got a few winners, a few losers, a few break-evens, but they also got a few HUGE winners and never have any HUGE losers. And that's why they are able to stay in the game.

Most people are the other way around, they got a few winners, losers, break-evens, never have any large winners and have a few HUGE losers which cleans them out. Even my friends who trade the stock market cant make money when it keeps going to new highs every few weeks. They basically buy a stock, went it goes up 5% or so they sell. If it doesn't go anywhere they sell it at break-even and just lose the commission. However they never use stop losses so when a stock goes against them they just wait for it to go back up or worse they buy more to get a better average. And eventually since there is a strong bull market due to Trump they get their money back. But there will be a time when it won't come back and will lead to huge losses like losing 50% of your entire savings due to one bad stock trade.

seems a little more difficult to do if you look at market movements like now, because what I observe every day price movements are always different, sometimes tends to go up and sometimes tend to go down. so if you do this kind of trading for life I think you will lose more money than profits. so don't ever make crypto trading, as your main job.

Day trading for a living ? hmm, this sounds like a dream for me.  ;D . is this like a trading course? and what method they use on that paper? hope it can be applied to any ppl including beginner.

Indeed, the market seems gloomy for a moment but then if you have a big capital then maybe you can still have a good gain. But I cannot guarantee the profit here, because the risk involved is greater in my opinion in crypto. You can ay trade, yes but as a source for a living, I'm lukewarm on these but as a sideline or extra income is okay.

Day trading is actually risky because it is hard to manage your trades, watching the charts all day, and preventing yourself to have losses, that is why there are only few people who does day trading. But the advantages of day trading is that you can earn much faster than long term trading.

Undoubtedly day trading brings very good results and many traders make big profits, while spending a lot of free time on their activities.  The question is posed very interesting and, in principle, understanding the reality of day trading, you can understand the contradiction that lies in the question itself, since day trading can give a good profit, but this money will not be realized, because there is no time left after day trading for personal life.

yeah really agree. only expert ppl can do that method. but if some experts already know the technique, they no need to watch the chart all they, because they know how the market will go (based on TA analyze and FA as well).

In my experience those that have those kind of results do not have huge winners they are only looking for trades that gives them a few profits and then they sell, by trading in this way they have a very high accuracy system that relies on having very small wins and just a few moderate losses.

But since they trade so many markets this means that even if the market of cryptocurrencies gives them some losses they can more than make them up by the profits they get in the stock and the forex market.

The truth is that technical analysis works very rarely on the cryptocurrency market. I think that good results are just as rarely as a good result in a roulette game. If someone treats gambling as a way of earning money and way of earning for living, then I think he has no experience either in daytrading nor in gambling.

Just like you, I am not fond of daily trade simply because I do not have enough time to check the chart every time. I am more likely comparable to those HODLers. Daily trade as I know requires a huge bankroll unlike to long-term trading because in daily trade you lose a lot more than you win hence you must have enough back-up funds so you could not lose it all and earn it back. Long-term trading, on the other hand, it is not that tedious as daily trade have because all you need to do is to wait until your coin fluctuates and then sell.

Those people who have full time job and want to become a full time trader is a foolish idea. You cannot learn trading in a few moment, it will really take a time. Those who have full time job should consider the risks. As a trader who have a job, it is really better to not quit and job amd have good time management skills where you can both focus in trading and also in your job.

This is so true that 97% of day traders end up in loss. You will rarely find any day trader that is in profit. Many think that long term investment means holding for years. If you see bitcoin price in recent years those who have carefully bought Bitcoin were able to get adequate return within months. Then y going for day trading.

The advantage is you can earn faster but the disadvantage is you can have a losses for a week or month because day trading is very hard. even you have that knowledge in crypto it is not enough. especially this days that the market is not good enough to take day trading. I wouldn't recommend it if my friend want to try day trading. 

I understand how difficult it is to get profit in daily trading, even for 1% profit. The key to this problem is not to be greedy, when you have made about 5% profit in that day stop playing and continue the next day. most people when they have profit they will continue to play and eventually they destroy the victory because of their own greed.

In order to see how difficult it is to become a day trader I will suggest to anyone to take a look at the 15 minute chart of bitcoin and see the huge movements that it presented during the last days, it is very easy to think that you will be on the right side of each one of those movements and make money with them.

But the truth is that is incredibly difficult and you will need to watch the markets very attentively and if for some reason you missed the movement you could sustain incredible losses in a very short amount of time.

The more I trade and follow the market, the more I become convinced that daily trading is a way to lose, if you win in a trend, you lose in a flat - and vice versa. Predicting a trend is very difficult only on charts, if at all it is possible in principle.

Here is a kind of day trade setup.  Its purely short term but could develop further, if this low within the last hour or so does hold then perhaps the profit is good for the day :

https://i.imgur.com/02ZVxbU.png

The idea would be a retest of the recent highs and the hope we can break any resistance or down trend in play on a longer time frame.  However when its a day trade, its the job just to ride that move up not hold through the tougher prices above.

Day trading is a good way to earn money because it is one of the fastest way to earn in crypto, but day trading is not for everyone because it is riskier than long term trading that you need a proficient skill and you need a lot of experience in trading, that is why a lot of people don't recommend day trading because it is also like gambling that you always lose from it.

It is confirmed that only 5% of people earn from daytrading, 95% lose. And it's not about skills, but rather about the fact that there are mainly robots on the market that can do several transactions per second. A person has no chance with them and will always lose. Unless he is lucky and will play just like a robot.

Of course, I am not a professional trader, because I am just starting to learn the scalping technique for day trading and it seemed to me that I would have very good success.  But after reading your message, I begin to doubt the prospects of my work.  Of course, today the cryptocurrency market is in very poor condition, but nevertheless, traders make money thanks to the volatility, which is very active today.

If you have full time job, you cannot switch easily to become a full time trader or I can say trading for living. Do not quit your job if you want to become full time trader. You are required to have a savings that is enough to cover your expenses in a year. You will go broke if you suddenly quit in your day job just for you to trade. You will be pressured to make money and of course the results is a loss.

Day trading for living is possible but only few people who manage to survive in that kind of decisions. If your only source of income is trading, then there is a possibility that it will affect your mentality because trading is only source of income and it can pressure for you to trade in order to make profit. I advise that people who want to become a day trade they should have another source of income.

You don't earn faster, you simply have a higher frequency of trades. Day trading actually looks to just use what hopefully is a positive strategy with a slight edge, but to use frequency to turn that small edge into significant +EV. so a tiny 0.1% profit done 100 times becomes 10%. Like you said, though, as the majority of traders lose money, you'll actually only accelerate your losses with daily trading.

And actually this condition? It's good for day trading. You want volatility and the ability to take advantage of panic to keep short selling.

It's purely for automated trading strats now. If you're still manually day trading, you're wasting your time IMO.

When it comes to speed there is no way that a human can can compete against a bot but make no mistake this is about skill and your ability to take decisions swiftly, most of those that decide to day trade do not really have the skill to do it, they are attracted by the great profits that they can obtain but they never had any chance of making money.

And that is because to become an effective day trader you need to be able to take the right decisions in a matter of seconds and if you cannot do that then it is impossible to be profitable as a day trader.