day trading effective?

[worldtraveller321]

questions on day trading cryptos
seems a tricky task
your watching volumes

so i ask for people in this forum who day trade?
effective for profits,
?
i imagine.impossible when whole market red ?
on videos seems to watch the candle charts?
and hold a red and buy asap to a green?
do u recommend. ? if one has the time?

[pooya87]

it can be profitable if you know what you are doing. otherwise if you are just playing around and buying things wishing they go up instead of really making educated trades, then it can not be profitable for you.
for example when you say "the whole market is red" it means you are not seeing the market because even during the "red" times there are opportunities to make money. for instance in the past couple of days DigixDAO was pumped and gave a nice profit although everything was red. so did at least half a dozen other altcoins. and that is ho you day trade in altcoin market, you find these coins with a pump coming and invest in them and dump as soon as you are satisfied with the profit.

[buje micin]

questions on day trading cryptos
seems a tricky task
your watching volumes

so i ask for people in this forum who day trade?
effective for profits,
?
i imagine.impossible when whole market red ?
on videos seems to watch the candle charts?
and hold a red and buy asap to a green?
do u recommend. ? if one has the time?

day trading will be very profitable if you know the trick to do it, usually I see the average value of a coin for a week then buy it when low and wait for the price to go up, controlling your ambition need here

[kevoh]

I do not fancy day trading in my opinion. One needs to be able to do on the spot analysis and make 'super' fast decisions that are usually based with emotions rather than sound judgement. This is not to say, it is not profitable but you can as well make big losses.

[lablab03]

Day trading nowadays is so difficult even though you keep monitoring the price everyday  to get the right timing to sell and buy  'cause the market is very unpredictable and besides of volatility there are some whales on the market that keep manipulating the price . And especially in altcoin which is very depressing also because of its circumstances in the market ,( all alt is facing red).  And we have no idea if the volatility of alt will give us profit because bitcoin is growing which is the common reason why altcoin is suffering nowadays. And IMO perhaps doing day trading with bitcoin is a good choice for now.

[chris200x9]

so i ask for people in this forum who day trade?
effective for profits,
?

I'm not a fan of day trading because I feel it is almost same as gambling. I believe that in gambling only luck is very important to make money than a knowledge so I don't go for quick profits from day-trading.

i imagine.impossible when whole market red ?

Yes, when markets are in red you can't make money from day trading. But if you invest money on good coin on red-day then you can make profit when market start moving up.

on videos seems to watch the candle charts?
and hold a red and buy asap to a green?
do u recommend. ? if one has the time?

I don't follow this method because simply I don't believe completely in this concept.

[entrepmind23]

It is effective if you understand how trading works and the meaning of the shapes and formations of candles with volume. If the market is mostly bearish then you have the option to short though it is not really recommended for newbies who are just starting to learn trading because your account will be burn even before you grasp what happened but if you are trading for a while and you know what price you should buy and sell then you can try it.

You can also try the traditional buy and sell wherein you buy first and then sell high. If you observe the market cap, there are coins that are pump from time to time so if ever you were able to catch the pump then you can still profit in the bear market. Day trading is effective as long as you have a trading plan and you strictly follow it.

[mann1983]

Day trading is always a risk as we cant judge which side the coin will be moving but yes due to help of chart we can trade with stop limit

[Pursuer]

i imagine.impossible when whole market red ?

even when everything is red and prices are dropping you can still make profit as a trader in the market only if you know how. for example there are margin trading options which you can short that coin which is dropping and make profit.

or you can normally buy the dips and sell on recovery. even when price is dropping there are times when it reverses back up and has a small recovery before falling more. you can make profit there.

[Beerwizzard]

Day trading is more about technical analysis while buying alts and waiting for pump is more about fundamental and swntiment analysis. In this casw day trading is way more harder and more risky, you should spend much time trading while you could just buy alts and hodl but imho it worth that.

i imagine.impossible when whole market red ?

Yes, when markets are in red you can't make money from day trading. But if you invest money on good coin on red-day then you can make profit when market start moving up.

Why not? Just sell BTC / USD pair and grab your profit. Sounds simple.

[lifetimebitcoins]

Day Trading is always effective but the thing without any knowledge about the analysis it is not possible to make money. Sometimes you might lose money in day trading because of false analysis by you, without knowing anything better we can stay away from day trading instead of losing money.

[chris200x9]

Day trading is more about technical analysis while buying alts and waiting for pump is more about fundamental and swntiment analysis. In this casw day trading is way more harder and more risky, you should spend much time trading while you could just buy alts and hodl but imho it worth that.

i imagine.impossible when whole market red ?

Yes, when markets are in red you can't make money from day trading. But if you invest money on good coin on red-day then you can make profit when market start moving up.

Why not? Just sell BTC / USD pair and grab your profit. Sounds simple.

If you're not in a profit then sell for what?

It may sound simple for writing but while doing it you feel difficult to time the market when everything is going down fast. So when prices are going down I will not sell instead of buying some of my favourite coins.

[lvincent]

Daily Trading is effective although it is easier said than done, daily trading is really difficult even when this time market are in red days you can profit little by little, of course you cannot sell if you buy your coins at high price but right now this is the can buy coins you don't own yet with low price just make sure that coin is good and every seconds the market is moving there's time that it goes up even little you can earn buy selling although it is really hard.

[wayancrypto]

Day trading too cosuming times and not effective for me,  because iam not patient for wait best price to catch it, when buy any coin i can not manage my emotion to get cheap price so until now iam still in floating minus. Long term trading could be better for people just like me.

[Beerwizzard]

Day trading is more about technical analysis while buying alts and waiting for pump is more about fundamental and swntiment analysis. In this casw day trading is way more harder and more risky, you should spend much time trading while you could just buy alts and hodl but imho it worth that.

i imagine.impossible when whole market red ?

Yes, when markets are in red you can't make money from day trading. But if you invest money on good coin on red-day then you can make profit when market start moving up.

Why not? Just sell BTC / USD pair and grab your profit. Sounds simple.

If you're not in a profit then sell for what?

It may sound simple for writing but while doing it you feel difficult to time the market when everything is going down fast. So when prices are going down I will not sell instead of buying some of my favourite coins.

I havent tried that yet but it seems like you can fund your account on forex broker that have BTC pair (you will get account funded with USD but BTC should be the only withdrawal option) and then start margin trading so you should be able to buy and sell BTC / USD pair and get  profit from all price changes. It should probably work like that, I'm going to try it soon with my funds.

[Denker]

questions on day trading cryptos
seems a tricky task
your watching volumes

so i ask for people in this forum who day trade?
effective for profits,
?
i imagine.impossible when whole market red ?
on videos seems to watch the candle charts?
and hold a red and buy asap to a green?
do u recommend. ? if one has the time?

Well if you have never traded before in your life, I recommend to stay away from day trading.
Learn the basics first. Technical analysis, chart patterns, how several time frames are connect with each other, price action, order flow, Level 2 reading etc. and begin with paper trading.
On tradingview you can open an account for free and paper trade all crypto/USD pairs.
After some while you can try to make a few first real, small trades.
Also look for good educational videos on youtube or websites where you can learn the basics. There's ton of material out there.
It will take time to develop some certain skill level. Knowing the theory is one thing. But trading under real conditions will be a completely different thing. Because you will learn how you tobehave under certain market conditions( for instance when price is moving against you) and how you can avoid panic reactions which may cause you some ugly losses.

[Saidmod]

questions on day trading cryptos
seems a tricky task
your watching volumes

so i ask for people in this forum who day trade?
effective for profits,
?
i imagine.impossible when whole market red ?
on videos seems to watch the candle charts?
and hold a red and buy asap to a green?
do u recommend. ? if one has the time?

There is no tricks as long as you have a great skills ahead to the other traders. It is like every trading one can have a good profit because he knows what and when to buy and sell. Its all depends on yourself. Im not a daily trader i can't go with it but as far as i knew it is very profitable.

[rlkiwi]

i find day trading works really well for crypto, theres a couple different places to bounce your currency through and its so volatile that it moves frequently, you just need to read it well.

[herurist]

questions on day trading cryptos
seems a tricky task
your watching volumes

so i ask for people in this forum who day trade?
effective for profits,
?
i imagine.impossible when whole market red ?
on videos seems to watch the candle charts?
and hold a red and buy asap to a green?
do u recommend. ? if one has the time?

Day trading is hard way, I have try this one and make me stress and lost almost 20% from my money. Day trading is similar scalping method ( forex ), have short time and take profit but also stop loss. As long you can take the right coin, have minimal stop loss/ take profit and patience, day trading is effective for profits. About how your action is up to you.

[creeps]

I’ve done this thing before and I can say that it can really be profitable but expect not much if your capital is quiet low because you will experiece bigger fees on that so basically day trading are good for those who have larger capital to fully appreciate the whole concept, I’m not saying that you have to but thats the ideal thing. Also remember the risk, because not all coins moves in just one day you have to look for actively traded coins on that day.