Daytrading for living. Myth or reality?

[Koadharber]

Hello guys! I was thinking about financial freedom and how to reach that. I was trading for 3 years in classic markets and now I moved to crypto. My plan is to day trade with 1000 usd without any additional income from any other job. What do you think should I try this or that's not a good idea?

Its a reality but i do only see traders which is only on forex trading which they do make daily living with it and i do have a friend which is actually doing it and witnessing on my own eyes.I dont know if its possible on this cryptoworld but seeing off there would really be some traders who are going on that path but i would say it does need a capital for you to start off and should really be skillfull on this deadly battlefield of price volatility behavior of coins on here.

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[MRX-]

I too am a newbie when it comes to trading and had done some research regarding in day trading, I've watched videos, read numerous articles and in conclusion I think day trading is nothing more than gambling. I might be wrong though, just my opinion,
I have recently traded 70$ of shitcoin and made it 80$, I've had 10$ profit for just 10-30 mins, but I would call it luck on my side. After that I've continued to research, I just wanted to try and experience trading, but nonetheless I think day trading is good for short term profits but it's not worth it.
And again I'm a newb so yea.

[dustboy]

Hello guys! I was thinking about financial freedom and how to reach that. I was trading for 3 years in classic markets and now I moved to crypto. My plan is to day trade with 1000 usd without any additional income from any other job. What do you think should I try this or that's not a good idea?

3 years trading experiences on classic markets is not enough for you to decide to make crypto trading as your main income. You need more time to learn about crypto before you are going to be a full time crypto trader. So I think it is not a good idea, it will be good after you know about crypto more than classic markets as I think crypto trading is more confusing and complicated compared to classic markets. Obviously, it is your own choice and the decision is on your own hands.

[miyaka26]

Hello guys! I was thinking about financial freedom and how to reach that. I was trading for 3 years in classic markets and now I moved to crypto. My plan is to day trade with 1000 usd without any additional income from any other job. What do you think should I try this or that's not a good idea?

That would be great to start in trading, just be mindful that traditional market trading have a large difference to crypto trading, I assumed you've already study the basics of cryptocurrency and bitcoin right? the only thing you need to watch out is the volatility of the coins and scam coins that is waiting for investors or newbies, 20% to 50% dump and pump is really normal to digital coins in just a matter of hours then on the other day it bounces back, always research and read white paper of your target altcoins and be alert about news to cryptocurrencies. Actually you have some upper hand in trading as you have 3 years of experience the only thing that matters is using that as your edge for winning into the crypto market.

[fanbeila]

Definitely.Since your investment is high enough,you could earn more enough to lead your day to day life.But initially,you should start with a very small amount to gain experience.You should learn the basics of trading to avoid losses.Since altcoin market is highly volatile and you are going to do ay trading,you should follow up the market continuously after investing.Also,whe new coins gets released,definitely their devs would pump the coin initially.So,you could make use of that opportunity and buy such coins.But set a target of 5% to 10% profit limit and once you reach it,just finish the trade.

[spadormie]

IT IS POSSIBLE and IT IS REAL! I know many people that are doing this. And most of them doesn't have any jobs for a living. But they are gaining 2000 USD a day or 2 days by just trading alts. Yes, they are whale.

[kryptqnick]

real. possible.

becuzz so soft markets for pro traders. so easy predictable for pro. no any regulation no any goverment surveillance. %90 population amateur fish home trader.

That is exactly my main argument. As no big players in crypto who can manipulate markets as they do it in classic markets

It is not as easy as it may seems. Did your trade go well on non-crypto markets?
The prices can't be manipulated strictly but news can cause a lot of excitement as well as panic selling. For example, after the info on Chinese ICO bans NEO dropped 2x in about one day, whereas it was going up nice and smooth before that. News on new planned forks make bitcoin go up about 15% very fast.
Sometimes rather unexpected things happen and it's really hard to say why. An example was a recent bch 3x pump because of South Koreans.
I don't know, I guess it's too risky to rely on these things as the only source of income.

[aardvark15]

Hello guys! I was thinking about financial freedom and how to reach that. I was trading for 3 years in classic markets and now I moved to crypto. My plan is to day trade with 1000 usd without any additional income from any other job. What do you think should I try this or that's not a good idea?

You can definitely say trade with $1000 but you can’t make a living on the profits from that. You can make a few dollars a day possibly as you buy low and sell high as the price fluctuates. Your only going to make a small percentage profit each day on average. You would need a lot more principle in order to make a living on day trading Bitcoins. As you build up some profit, your gains will build up, but it is a slow process.

[Razick]

IT IS POSSIBLE and IT IS REAL! I know many people that are doing this. And most of them doesn't have any jobs for a living. But they are gaining 2000 USD a day or 2 days by just trading alts. Yes, they are whale.

Honestly though dude being realistic, you should not encourage beginners into this type of activity, at least especially not in crypto, because you never know what is going to happen on a daily basis and many, most people actually, lose so much money daytrading and don't ever turn a profit. Think about this next time you try convincing someone to daytrade.

[Harsh_Patel]

You can try. I will say one thing. It’s damn difficult.

You have to be disciplined and HODL if you think it will go up. Market is a lot sensitive to News. And there is many market manipulation going on.

Please check the facts and Does and Don’t before you start. Given your experience and knowledge, it should not be difficult. If you can’t be disciplined, Use Trading Bot. 

[vitalman20]

Day trading 100% doesn't work for me. A combination of a bit of trading, a bit of ICO investment and HODLING promising altcoins appears to be the best strategy.

Trading would rarely give you the multipliers a good ICO would give you.

On the other hand, ICO is way riskier that just trading.

I'm sure you'll fine the right combination after a while.

[cryptocrusher]

Hello guys! I was thinking about financial freedom and how to reach that. I was trading for 3 years in classic markets and now I moved to crypto. My plan is to day trade with 1000 usd without any additional income from any other job. What do you think should I try this or that's not a good idea?

Certainly it is possible especially given your years of experience in other markets, however I would say that probably you'll need to be able to survive for a few months without withdrawing any profits. That way you can grow your bankroll and later you will find it much easier to make an amount to live on as it will be a much smaller percentage.

[normandi]

Topгoвля нa кpиптoбиpжe , oчeнь нeплoxoй инcтpyмeнт чтo бы нaбpaтьcя oпытa. Чepный лeбeдь здecь aктyaлeн кaк нигдe, a  тoкeнax мoжнo cдeлaть cocтoяниe. 

[bamb]

It could be a myth if you don't have enough capital to move your trading. Trading is s pure game of chance. You could win to day and lose big tomorrow! And when you trade everyday, you are invested and you will be worn out which will lead to frustration. I do not think trading is everyday job!

[OriginTrain]

It's definitely possible by one simple fact alone: for every person that loses money in crypto, someone has gained that amount somewhere. You can be that someone if you execute your trades smarter than those that lose theirs.

[karungbitcoin]

Day trading for living is possible but depend on the skill, knowledge and psychology of the trader. If experienced to manage risk and enable to control emotion during trading, and have good trading plan, to get consistent profit will be become reality.

[jerry0]

To those that daytrade, do you need btc price to go down when your altcoin goes up or stay the same to make profit?


I posted in a thread where i mentioned say i buy lisk at 5 dollars and let say price is 0.0007 btc.  I buy 1000 of it.  Now let say my plan was to sell at 6 dollars to make 20 percent profit or 1k minus fees.  When it hits that price, i sell my lisk for btc as that is what it is exchanged with.  However, let say during this time, btc went up a lot.  So each lisk is worth 0.00065 btc only.  Here... do i lose money or not?  Someone tells me here you lose money because you get less btc than you invested in.  The only thing i understand here is yes you get less btc... however... btc is worth more than it was back then.  So wouldn't this still be a profit?  I read people say look at the altcoin in terms of btc price and not usd.  Well if thats the case, does that mean a coin that doubles from 1 dollar to 2 dollar would lose you money when you sell assuming btc tripled in price?  I thought well you would get less btc when you sell... but you still make that profit right since btc price is higher?

[kapipindot]

Hello guys! I was thinking about financial freedom and how to reach that. I was trading for 3 years in classic markets and now I moved to crypto. My plan is to day trade with 1000 usd without any additional income from any other job. What do you think should I try this or that's not a good idea?

Daytrading has already been proven profitable, provided that you know what you are doing. I've read that you are trading for 3 years around regular stock market but you have to be warned about cryptomarket volatility. It is one hell of a roller coaster ride. Up by 10% down by 20% in a week. You can give it a shot if you want to. Also, prepare for tx fees. Choose your platform.

[Kil007]

you should start trading here. You have learn lots of from classic market then crypto market is the same, the only problem with this market is the news. you have to learn and find more news about the coins you trading.

[lostinbtc]

I think you will do well in no time with how volatile the markets are =)