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Author Topic: Is day-trading cryptocurrency profitable? - Need opinion from traders  (Read 417 times)
MSTDR
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December 31, 2017, 02:42:21 AM
 #1

Hi,

I was considering learning how to day-trade so that I can profit from price fluctuations of Bitcoin, Litecoin, Ethereum, Ripple and Bitcoin Cash. I feel that I can make a lot more money than trading stocks or commodities because the fluctuations are so much greater.

Can someone who is an experience trader, who got their experience and made overall profit day-trading stocks and commodities and is now day-trading cryptocurrency, give me their opinion how profitable this is? How closely do candlestick patterns of cryptocurrency conform with known patters applicable to stocks and commodities? How much more profitable is it than trading stocks and commodities if its profitable at all?

Also, what is the best way to start? I was thinking about watching YouTube videos on candlestick patterns as a start and then start trading based on that.

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December 31, 2017, 02:53:06 AM
 #2

Yes but only if you have experience and know what you're doing and are ready to make split second moves like a Ninja.

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December 31, 2017, 03:29:28 AM
 #3

It was not for me. I tried it.

In my opinion, to be successful in day trading, you need more capital and more experience on average because cryptocurrencies are more volatile and some of them do not have enough liquidity. I also believe a lot more trading "intuition" is needed.

If you come here with no trading experience, then you will lose money. I am sure of it.



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MSTDR
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December 31, 2017, 04:44:09 AM
 #4

It was not for me. I tried it.

In my opinion, to be successful in day trading, you need more capital and more experience on average because cryptocurrencies are more volatile and some of them do not have enough liquidity. I also believe a lot more trading "intuition" is needed.

If you come here with no trading experience, then you will lose money. I am sure of it.



Were you experienced and successful in day-trading stocks but failed at cryptocurrency?

Also, did you study what the candlestick patterns mean before trading?
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December 31, 2017, 04:47:52 AM
 #5

Is having your own business profitable?
Is starting your own company profitable?
Is being an author profitable?
Is day-trading crypto profitable?

Every single one has the same answer: Yes, if you know what you're doing.
cpfreeplz
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December 31, 2017, 04:48:41 AM
 #6

I tried it and in the end I'm just happier HODLing. Alts are just pumped and dumped way too often and if you're not watching constantly you can get screwed so quickly. Actually even if you watch you can get screwed. It's a tough business to be in.
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December 31, 2017, 05:04:55 AM
 #7

Is having your own business profitable?
Is starting your own company profitable?
Is being an author profitable?
Is day-trading crypto profitable?

Every single one has the same answer: Yes, if you know what you're doing.

My question is how much more profitable is it for an experienced trader to trade cryptocurrency as opposed to stocks and commodities.

I believe that the volatility creates a great opportunity for trading crypotcurrency that may not exists in the future. That's why I want an experienced traded who was/is successful at day-trading to answer that question.
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December 31, 2017, 05:20:59 AM
 #8

I tried it and in the end I'm just happier HODLing. Alts are just pumped and dumped way too often and if you're not watching constantly you can get screwed so quickly. Actually even if you watch you can get screwed. It's a tough business to be in.

Were you experienced and successful at day-trading stocks and commodities?
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December 31, 2017, 05:39:02 AM
 #9

day trading will always be profitable, but you must have an accurate information channel about the market, you can see it in some telegram group.

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December 31, 2017, 05:44:13 AM
 #10

Hi,

I was considering learning how to day-trade so that I can profit from price fluctuations of Bitcoin, Litecoin, Ethereum, Ripple and Bitcoin Cash. I feel that I can make a lot more money than trading stocks or commodities because the fluctuations are so much greater.

Can someone who is an experience trader, who got their experience and made overall profit day-trading stocks and commodities and is now day-trading cryptocurrency, give me their opinion how profitable this is? How closely do candlestick patterns of cryptocurrency conform with known patters applicable to stocks and commodities? How much more profitable is it than trading stocks and commodities if its profitable at all?

Also, what is the best way to start? I was thinking about watching YouTube videos on candlestick patterns as a start and then start trading based on that.


I've been doing it mate but not all of my trading activities have become successful. If the bearish was coming and then i'm sure you will get a heart attack caused by you are getting a trap at the peak. the daily trade is really worth for those coins were having very high volume

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December 31, 2017, 05:51:21 AM
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Not all the coins we expect and we predict will go up every day. Fighting in the crypto world also has a challenge like this, just as we trade in the real world. Sometimes we sell, and sometimes do not sell. So, we'll get profit when we are lucky.

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December 31, 2017, 06:57:21 AM
 #12

Cryptocurrency trading is a lot more profitable than stocks and commodities trading. First, gain knowledge and experience about cryptocurrency day trading. You have to spend plenty of time looking at the chart.
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December 31, 2017, 07:04:08 AM
 #13

Hi,

I was considering learning how to day-trade so that I can profit from price fluctuations of Bitcoin, Litecoin, Ethereum, Ripple and Bitcoin Cash. I feel that I can make a lot more money than trading stocks or commodities because the fluctuations are so much greater.

Can someone who is an experience trader, who got their experience and made overall profit day-trading stocks and commodities and is now day-trading cryptocurrency, give me their opinion how profitable this is? How closely do candlestick patterns of cryptocurrency conform with known patters applicable to stocks and commodities? How much more profitable is it than trading stocks and commodities if its profitable at all?

Also, what is the best way to start? I was thinking about watching YouTube videos on candlestick patterns as a start and then start trading based on that.


I've been doing it mate but not all of my trading activities have become successful. If the bearish was coming and then i'm sure you will get a heart attack caused by you are getting a trap at the peak. the daily trade is really worth for those coins were having very high volume

Overall, was it profitable at high volumes? How much do you think an experienced trader can make with $2000 worth of bitcoin on a daily basis?
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December 31, 2017, 07:04:22 AM
 #14

Day trading is not an easy job like swing trading as it includes no of trades to be done within a day. Also, day trading using candlesticks pattern in cryptocurrency market is similar to forex day trading because it's a 24-hour market comparing to stock exchanges where it is opened only for few hours a day. You just need a good grip on day trading skills along with a good day trading strategy and Strong money management techniques that's it, you can make a plan and execute it.

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December 31, 2017, 07:17:48 AM
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Cryptocurrency trading is a lot more profitable than stocks and commodities trading. First, gain knowledge and experience about cryptocurrency day trading. You have to spend plenty of time looking at the chart.

Are you telling me this as an experience trader who has traded both? If so do the candlestick patters of stocks match those of cryptocurrency on an hourly basis?

I've been looking at the candlestick chart for a few of the major coins. It seems like some of these patters repeat on a daily and weekly basis. I can probably make a decent profit buying on Friday and selling on Tuesday.
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December 31, 2017, 07:34:04 AM
 #16

It took me 6 years of losing to learn how to trade but now it's so easy it's like I'm in the matrix and candlesticks are falling everywhere but I wouldnt recommend someone new try it with any significant amount of money.

60659 📦
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December 31, 2017, 09:21:29 AM
 #17

2018 new tax laws going to make day trading a headache and less profitable as each trade Is considered a taxable event.
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December 31, 2017, 07:44:09 PM
 #18

Cryptocurrency trading is a lot different from stocks and commodities. Market trends are often determined by emotions due to the large number of inexperienced traders.
First of all, I recommend you to leave day trading to the bots! Go for longer term trades on recently heavily dumped coins. Don't diversify too much, and don't buy a lot of coins. You will end up only with scraps. Concentrate on few well researched coins instead. Hunt down coins with solid, new technology and buy the dips.


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December 31, 2017, 07:57:20 PM
 #19

I know many mid term traders but not many day traders. I think trade based on news+ some TA could be good idea if you do your homework by analysing many projects fundamentally.



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December 31, 2017, 10:49:04 PM
 #20

Cryptocurrency trading is a lot different from stocks and commodities. Market trends are often determined by emotions due to the large number of inexperienced traders.
First of all, I recommend you to leave day trading to the bots! Go for longer term trades on recently heavily dumped coins. Don't diversify too much, and don't buy a lot of coins. You will end up only with scraps. Concentrate on few well researched coins instead. Hunt down coins with solid, new technology and buy the dips.




Do cryptocurrencies follow the same candlestick patters as stocks?
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