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Author Topic: The minimum amount you need to day trade bit coins is 4000$/1btc as aug 2017  (Read 575 times)
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August 30, 2017, 12:24:29 AM
 #1

Everyone asks this question but no one ever gives you an answer besides "as much as you are willing to lose" which is excellent advice thats what I do, but thats not a number.

My reasoning is this. The market swings up and down about $400USD a day. The most you can make off a trade will be that number. It has to be worth your time. My minimum wage is $15/hr since adjusted for inflation that what US min wage is supposed to be.

Anything less then 4000 is just a hobby. I'm starting with 2000 because I don't care if I lose it and I know I'm going to make some mistakes and any higher amount will start to trigger emotions and cloud judgement. I suffer from fear of mission out. I had bitcoins over the last several years and thinking it wasn't going to go any higher I sold. That was stupid. I have realized this is going to stay and keep going up over the long term since it has out lasted mt gox, hacking, and the fork, and as well as altcoins.
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August 30, 2017, 12:41:14 AM
 #2

Unless you can short it as well as buy and hold, I think you may have trouble making as much from day trading as from just buying and holding long-term. Certainly that's been my experience. I bought some BTC to hold in late July and held it through now for roughly a 100% increase in value; I also put some money on the exchange to day trade with, thinking that it would be easier to make big profits on the volatility. Maybe I'm just not a great trader, but I ended up making roughly 20% on my day trading in the same time it took for a 100% increase on my held coins. It's easy to miss out, and equally easy to let fear of missing out cloud your judgment and buy during a downswing then let fear of being caught in a longer downswing cloud your judgment more. There are analysis tools but they're more useful for longer-term analysis than predicting short-term market swings; there are plenty of times I've been flabbergasted by a sudden 5-10% up or downswing. Certainly I was taken by surprise by Litecoin's surge from $45 to $65 over the last few days, missed out a lot on that because each time I looked I figured the bull market had to run out of steam after a jump like that - maybe I missed some news about the underlying technology, but it seems to have been totally without reason. It may or may not still be without reason, looks a lot like it could go to $100 but it was starting to look that way a few months ago too when it went to $59 and then crashed to $40. I realize litecoin and bitcoin are two different animals, but the point is that the markets are volatile but not at all predictably, while the simple prediction that bitcoin would continue to rise after the fork - not necessarily immediately, but longer-term - was a very easy one based on the history. If you believe it's going to crash at some point, then buying the dips is foolish since you'd want to wait for the big crash, so might as well just buy and HODL or spend the money on bitcoin miners.
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August 30, 2017, 07:11:11 AM
 #3

Everyone asks this question but no one ever gives you an answer besides "as much as you are willing to lose" which is excellent advice thats what I do, but thats not a number.

My reasoning is this. The market swings up and down about $400USD a day. The most you can make off a trade will be that number. It has to be worth your time. My minimum wage is $15/hr since adjusted for inflation that what US min wage is supposed to be.

Anything less then 4000 is just a hobby. I'm starting with 2000 because I don't care if I lose it and I know I'm going to make some mistakes and any higher amount will start to trigger emotions and cloud judgement. I suffer from fear of mission out. I had bitcoins over the last several years and thinking it wasn't going to go any higher I sold. That was stupid. I have realized this is going to stay and keep going up over the long term since it has out lasted mt gox, hacking, and the fork, and as well as altcoins.
$400 price swings on an entire day on bitcoin price movement is possible but its not guaranteed that it would do everyday on which it stabilizes it price on a certain range for quiet some time. There are days on which moves only on $100 range minimum. We do know price of bitcoin is really unpredictable and if you do think on this kind of indications on 400 swings then most likely you would lose up money.
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August 30, 2017, 07:15:58 AM
 #4

LOL.i don't agree with you First time for trading we need to know about the trading.If anyone did like you, he may lost all of his money in one days.for smooth trading first we need know about crypto nicely.In first day on trading using $400 is foolish work to me.
If the user is lucky he could be earning a bigger profit with such a increased investment. As the above mate suggested it's always a good move to learn and know better about the crypto and then take part into the trading activities with small capital at the beginning which can be further increased on the profiting.




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August 30, 2017, 07:23:55 AM
 #5

OP, it is a mistake to start comparing the minimum daily wage and what you desire to get from trading. If you have a job that pays $15 per hour, that never changes no matter how tired you are at work as long as you do it. In trading your performance matters, and there will be months of earning nothing and some months of losing money.

Also try to remember that 90% of traders are losers.


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August 30, 2017, 07:30:24 AM
 #6

Everyone asks this question but no one ever gives you an answer besides "as much as you are willing to lose" which is excellent advice thats what I do, but thats not a number.
everyone says that because it is true.
for example if I say $10,000 you will start running and screaming and if I say $0.02 you will burst out laughing but they are both true and you can use both numbers to start your trading. the first is ~2.22BTC and second one is about 500 satoshi or the minimum order size of some exchanges!

Quote
My reasoning is this. The market swings up and down about $400USD a day.
the swings that big are so rare that they almost never happen.

Quote
The most you can make off a trade will be that number. It has to be worth your time. My minimum wage is $15/hr since adjusted for inflation that what US min wage is supposed to be.
if what you said were true then you would lose the same amount of the swings is not in your favor. so think about that for a while before wanting to invest $4000 as a start.

Quote
Anything less then 4000 is just a hobby.
no it really is not.
in fact one of the best things about this market is that you can start with a very small amount to try and learn things and build up your confidence and make all the mistakes you want. then increase the amount.

on top of it, when you become experienced enough you can make a big profit from altcoins that are getting pumped and earn a very good amount of profit in short term. even 100% profit. so if you invest $1000 you can make it into a $10000 potentially by the end of the month too.

in the end, it is not right to give a number because it can be very different for different people. I may prefer trading with only half abitcoin while others do it with 10 bitcoin and be happy. just do what you are more comfortable with.

EMPTY
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August 31, 2017, 04:20:51 PM
 #7

LOL.i don't agree with you First time for trading we need to know about the trading.If anyone did like you, he may lost all of his money in one days.for smooth trading first we need know about crypto nicely.In first day on trading using $400 is foolish work to me.
If the user is lucky he could be earning a bigger profit with such a increased investment. As the above mate suggested it's always a good move to learn and know better about the crypto and then take part into the trading activities with small capital at the beginning which can be further increased on the profiting.

Agreed you don't need to start with 1btc as it's too much of a risk especially if you're not that experienced yet. And you can start with a much lower amount than that dude juat to get the feel of it first

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August 31, 2017, 07:31:13 PM
 #8

Everyone asks this question but no one ever gives you an answer besides "as much as you are willing to lose" which is excellent advice thats what I do, but thats not a number.

My reasoning is this. The market swings up and down about $400USD a day. The most you can make off a trade will be that number. It has to be worth your time. My minimum wage is $15/hr since adjusted for inflation that what US min wage is supposed to be.

Anything less then 4000 is just a hobby. I'm starting with 2000 because I don't care if I lose it and I know I'm going to make some mistakes and any higher amount will start to trigger emotions and cloud judgement. I suffer from fear of mission out. I had bitcoins over the last several years and thinking it wasn't going to go any higher I sold. That was stupid. I have realized this is going to stay and keep going up over the long term since it has out lasted mt gox, hacking, and the fork, and as well as altcoins.
$400 price swings on an entire day on bitcoin price movement is possible but its not guaranteed that it would do everyday on which it stabilizes it price on a certain range for quiet some time. There are days on which moves only on $100 range minimum. We do know price of bitcoin is really unpredictable and if you do think on this kind of indications on 400 swings then most likely you would lose up money.

Correct me if I'm wrong but I haven't seen bitcoin price moves along the 400$ price line, although I observed after Japan has legalized bitcoin there are days that it is moving in $100 daily until a dump started.

As for the OP, it seems that you have learned your lessons in a hard way, dumping bitcoin because you think that it can't go any further but then it continue and will likely touch $5000 in coming days. But with a starting capital of 1 btc is very huge for some of us here. For me a minimum of .05-1 BTC is a good investment to begin with in trading.

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August 31, 2017, 08:34:52 PM
 #9

LOL.i don't agree with you First time for trading we need to know about the trading.If anyone did like you, he may lost all of his money in one days.for smooth trading first we need know about crypto nicely.In first day on trading using $400 is foolish work to me.
If the user is lucky he could be earning a bigger profit with such a increased investment. As the above mate suggested it's always a good move to learn and know better about the crypto and then take part into the trading activities with small capital at the beginning which can be further increased on the profiting.
Starting with small investments is the work we can say efficient. Reason is as the newcomer you just have the basic knowledge and some learned techniques. What you lack is practice and some strong experiences. So you must start with small so whatever you get is adjustable for you.
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August 31, 2017, 08:45:10 PM
 #10

Day trading can net a good amount, but so can trading by the minute, should you have enough collateral.
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August 31, 2017, 09:06:17 PM
 #11

Everyone asks this question but no one ever gives you an answer besides "as much as you are willing to lose" which is excellent advice thats what I do, but thats not a number.

My reasoning is this. The market swings up and down about $400USD a day. The most you can make off a trade will be that number. It has to be worth your time. My minimum wage is $15/hr since adjusted for inflation that what US min wage is supposed to be.

Anything less then 4000 is just a hobby. I'm starting with 2000 because I don't care if I lose it and I know I'm going to make some mistakes and any higher amount will start to trigger emotions and cloud judgement. I suffer from fear of mission out. I had bitcoins over the last several years and thinking it wasn't going to go any higher I sold. That was stupid. I have realized this is going to stay and keep going up over the long term since it has out lasted mt gox, hacking, and the fork, and as well as altcoins.
People usually answer "as much as you are willing to lose" because we don't know how good you are/will be in trading. Also everything depends on your financial side. For some people 4000$ is much and they can't recomend you to trade with this amount, some people are rich and for them even 40 000 is nothing for trading, that's why people say that proposal.
Btw I think 0.5 btc is a good amount to start trading after you have success on demo platforms where you trade with virtual money.

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August 31, 2017, 09:32:11 PM
 #12

You answered yourself when open the thread! The right amount for investing is the one you feel comfortable. The biggest mistake in trading is when you emotionally attached to a trade because than you get mentally drained and thats the good path to mistakes. The good thing about cryptoworld is that everything goes up  Tongue so sometimes even mistakes pay out. However, chill and trade if you got time otherwise just buy and hold and dont be stressed up about need for profit. Greed is a killer!
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August 31, 2017, 09:50:24 PM
 #13

Everyone asks this question but no one ever gives you an answer besides "as much as you are willing to lose" which is excellent advice thats what I do, but thats not a number.

My reasoning is this. The market swings up and down about $400USD a day. The most you can make off a trade will be that number. It has to be worth your time. My minimum wage is $15/hr since adjusted for inflation that what US min wage is supposed to be.

Anything less then 4000 is just a hobby. I'm starting with 2000 because I don't care if I lose it and I know I'm going to make some mistakes and any higher amount will start to trigger emotions and cloud judgement. I suffer from fear of mission out. I had bitcoins over the last several years and thinking it wasn't going to go any higher I sold. That was stupid. I have realized this is going to stay and keep going up over the long term since it has out lasted mt gox, hacking, and the fork, and as well as altcoins.
To adapt a sentence to Bitcoin I heard somewhere: Every Bitcoin begins with a satoshi.
What everyone invests in Bitcoin depends on his budget. If the early bitcoiners would have had the same opinion, they wouldn't be billionaires now.

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September 01, 2017, 03:44:56 AM
 #14

You say you don't care if you lose $2000 . That might be a small amount for you but it is definitely a big amount for others.
Do you have any strategy planned for trading ? Unless you have a good strategy other than just buy low and sell high you are keep going to make mistakes.
Just think if you lose $2000 multiple times, say 3 times, that would be a considerable amount to you right. So i would recommend you to start with $500 .
Prepare a good strategy and invest in coins which you believe in and which you think will definitely rise up in future. Don't panic and sell, hold your coins because its cypto. It goes up, it goes down, what matters is how we survive.



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Rainbot
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beamin
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September 01, 2017, 04:11:22 AM
 #15

You answered yourself when open the thread! The right amount for investing is the one you feel comfortable. The biggest mistake in trading is when you emotionally attached to a trade because than you get mentally drained and thats the good path to mistakes. The good thing about cryptoworld is that everything goes up  Tongue so sometimes even mistakes pay out. However, chill and trade if you got time otherwise just buy and hold and dont be stressed up about need for profit. Greed is a killer!

I answered it because I was sick of never seeing an answer. I have only made ~1000 since doing this so that to me is alot of money and it was alot of time to make that happen. I really think its luck because I haven't had that: OH shit This was a stupid idea" loss yet.

The best answer; 10million USD and make sure you always sell higher then you buy every time. Smiley
putrisa
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September 02, 2017, 09:34:11 AM
 #16

LOL.i don't agree with you First time for trading we need to know about the trading.If anyone did like you, he may lost all of his money in one days.for smooth trading first we need know about crypto nicely.In first day on trading using $400 is foolish work to me.
I think what this person is saying is true, we should first learn how to step in the right trading using capital just enough $ 10 to learn trading, if you already know the trick from trading then you can use the capital $ 400
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