Day Trading

[slyfox]

I've been thinking for a bit about day trading Bitcoin, and am curious, what is a good amount to start with? Would it be possible to start with maybe $100-200 and work my way up?

Sorry if i'm posting in the wrong section, pretty new to forums here.

You could start with that, but what are your goals? That is the most important thing, if you think you can begin with that amount and then trade millions then that is going to be impossible, but if you want to start with that and trade with a few thousands then that is possible.

[1714134194]

1714134194

[1714134194]

1714134194

[Razick]

Based on my experiences with daytrading crypto I can tell you it almost never ends well. Most profit in crypto comes from long term holding. Look at any coin/token graph since its start and you will notice the gains almost always come in exponential form. With that said, daytrading actually makes little sense when you can instead by small amounts and simply hold them to make large multiple on your investment without and work, stress or hassle.

[error08]

Based on my experiences with daytrading crypto I can tell you it almost never ends well. Most profit in crypto comes from long term holding. Look at any coin/token graph since its start and you will notice the gains almost always come in exponential form. With that said, daytrading actually makes little sense when you can instead by small amounts and simply hold them to make large multiple on your investment without and work, stress or hassle.

Day trading only works if Op aim to trade altcoins instead of bitcoin due to altcoin prices seems fluctuate significantly, even price changes as much as 1000 satoshi will be profitable if you buy it in huge amount, strength in numbers. On the other hand, bitcoin price only fluctuate within $50-$100 per day, which mean you can't get profits more than $10 with $100-$200 initial capital.

[player514]

I've been thinking for a bit about day trading Bitcoin, and am curious, what is a good amount to start with? Would it be possible to start with maybe $100-200 and work my way up?

Sorry if i'm posting in the wrong section, pretty new to forums here.

What you could do is use a small amount like 100-200 to prove to yourself that you can actually trade. Trade with that amount and see how much you can make or how you do in the markets. If you're doing well and feel confident in your ability to trade positive, then you should put more money into your investing.

If you don't do too well, then try to just map out the charts more often. Follow the news and try again with another small amount. After all, if you lose 100-200 it's not a life-changing amount.

[Natsuu]

I've been thinking for a bit about day trading Bitcoin, and am curious, what is a good amount to start with? Would it be possible to start with maybe $100-200 and work my way up?

Sorry if i'm posting in the wrong section, pretty new to forums here.

Your capital is not too bad for day trading, actually it's a great start because as a beginner you don't need a huge capital because you'll never be sure of what will gonna happen. But first, know your coins to buy since you want to day trade, research and analyze which is better and try to consult if you have a friend that's more and well experienced. Expect that you may loss some but rather be more motivated of all of these.

[Innerpumper]

It all depends on your condition. Trading with capital a lot will benefit greatly. In the trade you have to understand and have a strategy for trading so as not to pengalami the large losses. $100-$200 I think is enough to trade and earn a hefty profit.


Save your money as well for backup. If at any time your buy crypto suffered losses. You can buy it at a cheaper price than before.
 

[beerlover]

I agree with the previous posters, crypto is just too volatile and unpredictable right now, even seasoned traders get burned. You're better off picking a couple solid coins and hold. 

If you know what you are doing, getting burnt in crypto trading is very little. In fact the volatility is even the main reason it can be fun. You are right with your last statement though with picking up a few solid coins most especially for those who do not have the trading spirit in them.

It is not for everyone, so sometimes, it is just the passion or drive that makes some people want to learn and have a huge experience. However, the profit can be extremely motivating.

[barabut]

It depends on your budget and learning curve, if you know a bit of arbitrage then it would be less risky

[Flor1982]

I've been thinking for a bit about day trading Bitcoin, and am curious, what is a good amount to start with? Would it be possible to start with maybe $100-200 and work my way up?

Sorry if i'm posting in the wrong section, pretty new to forums here.

The safest strategy in trading is you should invest the amount which you think you can afford to lost because if you lost that certain amount during trading it will mean nothing for you because you already treat the amount is a lost but the experience will be treasured. But if that amount is luckily gaining you should slowly to put up the capital until you mastered the said trading.

[Monnt]

Here's my tips, do not trade money that you can't afford to lose. Big or small money are still money, when it comes to trading if you have fear because you've thinking you gonna lose it, stop trading. Just add some fun and dont mind if you lose, all traders suffer from losing. Just relax and keep calm.

That is absolutely a very good tip. Never trade what you cannot afford to lose. Keeping calm is good, however it is important to learn before trading as that is the only way you can easily keep calm knowing you have an idea what you are doing and even if you are losing, you know you won't lose much and it is a way for you to learn than sweating from your intestines.

[Neo--]

I've been thinking for a bit about day trading Bitcoin, and am curious, what is a good amount to start with? Would it be possible to start with maybe $100-200 and work my way up?

Sorry if i'm posting in the wrong section, pretty new to forums here.

if you dont have trading experiece day trading is where u can loose a very big part of your profit.

[yanto@1977]

I've been thinking for a bit about day trading Bitcoin, and am curious, what is a good amount to start with? Would it be possible to start with maybe $100-200 and work my way up?

Sorry if i'm posting in the wrong section, pretty new to forums here.

You can start any method with only little money you have. For beginners, first time is hard works and also moment to know how good method you have?. Learning by doing is better than follow others people opinion or website trading. Real market will give you valuable experience you need. Don't forget about stop loss and money management. Thank you.

[BlackPanda]

Here's my tips, do not trade money that you can't afford to lose. Big or small money are still money, when it comes to trading if you have fear because you've thinking you gonna lose it, stop trading. Just add some fun and dont mind if you lose, all traders suffer from losing. Just relax and keep calm.

That is absolutely a very good tip. Never trade what you cannot afford to lose. Keeping calm is good, however it is important to learn before trading as that is the only way you can easily keep calm knowing you have an idea what you are doing and even if you are losing, you know you won't lose much and it is a way for you to learn than sweating from your intestines.

yes tranquility will enable us to make the best decisions. some people experience losses because they are too panicked and do not have a sense of calm. besides calmness then a skill and experience will make us able to do analysis well. price movements can be seen on the chart, every time we can learn a coin that has a good prospect. oh yes never get easily affected by unreliable analysis. the best step is to get myself to do the analysis, I'm sure it will be able to make you get a great experience in trading.

[el kaka22]

Based on my experiences with daytrading crypto I can tell you it almost never ends well. Most profit in crypto comes from long term holding. Look at any coin/token graph since its start and you will notice the gains almost always come in exponential form. With that said, daytrading actually makes little sense when you can instead by small amounts and simply hold them to make large multiple on your investment without and work, stress or hassle.

It totally depends on your system of day trading and what you are trading. Although it can be extremely time consuming which was one of the reasons I switched to long term trading but it can be extremely profitable and you can easily accrue profits fast with smaller investment amount if you trade perfectly well.

I have tried this before and I enjoyed it. You do not have to trade all the coins, you only need a few coin that can give huge fluctuations in a day with some little bit of stability looking across the charts. With this you can grow your capital faster than long term trading.

[Izarok]

The strategy will always be the key in trading. You can invest a huge amount and still fail to make profit. Even with a little amount but if you do have a plan on how to make it work then you are already one step ahead. If you do really want day trading, try buying some altcoins instead and wait for their price to spike up then sell it. My advice for you is read a lot, ask and apply it. Happy Trading!

[Bezdonov Art]

I really like to do day trading, because I just rely on some pump and a short dump. I think $ 100- $ 200 is a good start for a newbie, I recommend not being too pushy to use a large capital in trading. unless you are already an expert in trading.

I agree completely. Day trading requires your time – most of your day, in fact. Don’t consider it as an option if you have limited hours to spare. The process requires a trader to track the markets and spot opportunities, which can arise any time during the trading hours. Moving fast is key.

[slyfox]

Based on my experiences with daytrading crypto I can tell you it almost never ends well. Most profit in crypto comes from long term holding. Look at any coin/token graph since its start and you will notice the gains almost always come in exponential form. With that said, daytrading actually makes little sense when you can instead by small amounts and simply hold them to make large multiple on your investment without and work, stress or hassle.

It’s no wonder that the most common advice given in the forum is just hold our coins, most of the time  advice like that is mistaken but this is one of the instances in which this is the right action to take.

[romero121]

Users just with the hope of earning big directly jumps into day trading. Here one needs to be very obseevative over the price movements, without which can't get good profit. Should have patience to make decisions according to the situation rather than getting panic and tending to sell it out. Here even a small price variation need to used as an opportunity to earn. Only then good earning is possible through the same.

[romecheo]

Day Trading would require much of your time, if you wanted to experience trading, you may use demo account https://www.bitfinex.com/trading or other exchanges/trading sites as well.

100$ to 200$ was a good start. you may earn 5$ to 10$ per day or more, if you we're good enough.

[groko271]

I've been thinking for a bit about day trading Bitcoin, and am curious, what is a good amount to start with? Would it be possible to start with maybe $100-200 and work my way up?

Sorry if i'm posting in the wrong section, pretty new to forums here.

I keep the below for such questions as this.

Before anyone starts trading they need to know the facts. Over 80% of traders are not profitable over time and only 1% make it big. The rest just struggle to stay above the line. For nearly 2 decades of part time (hobby) trading I have seen countless people think trading is easy fast money or at least easily possible to make good money in the end. The truth is its not easy and it takes a diverse set of skills + experience to be able to make some money on the side.

This is why people give up too soon. Every loss is valuable experience, many losses results in a lot of experience. If your interested in trading, start each trade small, stupidly small. Buy/sell on 3-5% margins and be thankful for your "wins". There wont be many. But learn from the stupidly small losses over and over again. Analyse your losses, don't go on feelings but data, both fundamental and technical, especially regarding crypto.

Set yourself $100 and make 5 x $20 trades on different commodities/coins etc try and turn each into $25 (excluding fees). You'll learn a lot before you get there. Trading will always be here, take some time out to perfect your skills, trade on data not emotions and enjoy the ride, its fun imo.