Is the day trading profitable ?

[its-a-me-mario]

I am prepared myself for trading. But i need some suggetions from here. There are many way for trading in cryptocurrency. But i need correct one which is profitabe. I am prepared myself for day trading. Is it profitabe?

Day trading is profitable I have seen a lot of people making fortune out of it. But on an overall scenario only 1% out of all the day traders become successful and actually earn money. Most of the day traders lose money because not everyone has the ability to take over on their emotions and make decisions quickly. Only a few are blessed with such instinct. Moreover there is path to become a successful day trader and that path consists of tons of failure until you reach your goal. Most of the people just don't have the patience to continue until they reach the successful stage.

Yeah, agreed but it will only be profitable if you choose the right one altcoins. Because the problems that happened always here is most of the traders they chose the wrong coins were they think it is the potential one but its not actually. and most often those traders are too impatience instead to become more patience while they're doing for short or long term.

Another huge mistake is people don't take profits. They'll hold an altcoin as it goes to a 200% return, then get greedy and don't sell as it crashes back down to 0% and eventually -80%, hoping that it will come back. Take those profits when you've got them ppl.

[barota]

day trading or short term trading is not good at all and is risk too much especialy for newbie and new traders.
market cant give correct result in short term. look to prices of bitcoin and compare between last year and current year . and if the market have big change fast this is the cause for danger trade of day

[Omega Weapon]

Every form of trading can be extremely profitable, there are only two issues, the first is if you know how to be profitable in that particular form of trading and the second is if you have what it takes to be profitable in that form of trading, in my case while I think I know how to profit from day trading I know I do not have what it takes to be a good day trader, I do not have the time or the ability to take really fast decisions and I cannot sit down in front of my computer all day.

Most people assume that daily trading can take a lot of time, but of course it depends on how we do it. if we can set the time to trade, for example, make a schedule at certain hours to carry out trading activities, of course we can take advantage of the market situation under any circumstances to be able to make a profit, even though the benefits obtained are few.

It is not an assumption, day trading takes a lot of time and there is no way around it, if you want to have access to the best trades then you need to watch the charts for as long as you can, and even more importantly you cannot get distracted while doing so because by the time that you react to the move in the price it could be too late and this is especially true in the market of cryptocurrencies that has a tendency to move really quickly unlike other markets.

[kynaz]

day trading or short term trading is not good at all and is risk too much especialy for newbie and new traders.
market cant give correct result in short term. look to prices of bitcoin and compare between last year and current year . and if the market have big change fast this is the cause for danger trade of day

In one way or another, profit is still the most important in the market. I think that if you have a specific strategy, day trading or short-term trading can help you earn high profits because this market is at a very suitable stage for you to invest. I don't know when the uptrend will return but if you trust this market, this is a good time to consider investing now. In addition, you can also choose long-term investment if you want to avoid big risks because I know that the downward trend will probably last until the end of 2020.

[karanggatak]

day trading or short term trading is not good at all and is risk too much especialy for newbie and new traders.
market cant give correct result in short term. look to prices of bitcoin and compare between last year and current year . and if the market have big change fast this is the cause for danger trade of day

I agree if you say daily trading is very risky, but when you say that daily trading or short-term trading is not good at all, I disagree. many people can make a profit by doing daily trading, they take advantage of the volatility of market prices every day by taking profits little by little. sometimes someone does daily trading because they have free time and if they only invest long-term, maybe they think that free time will be wasted. usually a beginner does daily trading, because they want to learn things about trading and at the same time they want to make a profit by trading daily. so in my opinion daily trading still has benefits and I don't agree if you say daily trading is not good at all.

[Vertex_ICO]

I am prepared myself for trading. But i need some suggetions from here. There are many way for trading in cryptocurrency. But i need correct one which is profitabe. I am prepared myself for day trading. Is it profitabe?

Day trading can definitely be profitable, you just need to go into it with patience and enough knowledge to make successful trades. Also, never trade with more than you can afford. Start slow and build your way up.

[oktana]

the essence of daily trading is to measure profits from the current chart session, unless you are not targeting daily earnings.

currently not so good for targets of 15% and above because bitcoin surges, with a 2% profit limit and stop loss still possible to find, or at least not too loss. Daily monitoring charts also require this kind of strategy.

[Omega Weapon]

day trading or short term trading is not good at all and is risk too much especialy for newbie and new traders.
market cant give correct result in short term. look to prices of bitcoin and compare between last year and current year . and if the market have big change fast this is the cause for danger trade of day

I agree if you say daily trading is very risky, but when you say that daily trading or short-term trading is not good at all, I disagree. many people can make a profit by doing daily trading, they take advantage of the volatility of market prices every day by taking profits little by little. sometimes someone does daily trading because they have free time and if they only invest long-term, maybe they think that free time will be wasted. usually a beginner does daily trading, because they want to learn things about trading and at the same time they want to make a profit by trading daily. so in my opinion daily trading still has benefits and I don't agree if you say daily trading is not good at all.

Many newbies do not really believe that you can make money in the markets by day trading because of the high level of difficulty that they have to face and instead of concluding that they are not ready to become day traders they come to the conclusion that if they are unable to profit from a style of trading then no one can, but we know this is the wrong conclusion, there are many traders out there making profits with day trading but it has taken them years to master their craft.

[Magkirap]

It is profitable as long as you know how to do it properly ,
If you don't know a thing yet it is better to use a simulator first to know what strategy would be good for you.

Trading simulator will be really good for all of us specially for newbies in trading because surely they will not know what exactly they need to do when they first step into trading platforms and they will not exactly know how will they apply their analyzations and for people who are trading for some time they can use simulators for testing their strategies.

[Malamok101]

I think if you have such a question, then for now you should not trade on the cryptocurrency market. It’s better to practice your demo account for now and develop a certain trading system for yourself, and then you yourself will understand how it will be profitable for you to trade.

I agree for your opinion but certainly if they invest a huge funds it will be easy for them or us to trade and have a little of time to practice more to have a better experience.

[Omega Weapon]

It is profitable as long as you know how to do it properly ,
If you don't know a thing yet it is better to use a simulator first to know what strategy would be good for you.

Trading simulator will be really good for all of us specially for newbies in trading because surely they will not know what exactly they need to do when they first step into trading platforms and they will not exactly know how will they apply their analyzations and for people who are trading for some time they can use simulators for testing their strategies.

A trading simulator can be a great way to learn most of the aspects that are involved in trading but there is just one huge problem and that is that it will be impossible for you to simulate the psychological aspects that come from winning and losing money, many traders do not really stop to think about these factors but they are really important because they are the most common reason why traders take bad decisions in the markets and the only way to train those aspects is by trading with real money.

[Alice Nuttal]

Profitability depends not only on a chosen type of trading but on numerous factors. First, you should be informed about the situation in the cryptocurrency market, so keep an eye on volatility, maybe use info bots like this one – https://t.me/CexIoInfoBot, etc. Second, never forget to learn. You can’t develop a strategy without knowledge and knowledge never appears from nowhere.

[enwi]

I think, to be able to get profit and whether trading at this time will be profitable or not, it depends on how our strategy is to start and whether we can read the market well, also if we dare to take risks, because in my opinion if we have all that, then with any condition it will not be a problem to be able to get profit

[TrevorS]

the essence of daily trading is to measure profits from the current chart session, unless you are not targeting daily earnings.

currently not so good for targets of 15% and above because bitcoin surges, with a 2% profit limit and stop loss still possible to find, or at least not too loss. Daily monitoring charts also require this kind of strategy.

Even with a very well-tuned stop loss system, you won’t have any guarantees that you will remain at least at zero. For day trading, you need to understand very clearly in what price corridor the coin will be traded in the next day and when there will be a transition by levels. This is extremely difficult. All day everything can go well, and then you lose everything you have earned for that day. It is imperative not to be greedy.

[wxxyrqa]

the essence of daily trading is to measure profits from the current chart session, unless you are not targeting daily earnings.

currently not so good for targets of 15% and above because bitcoin surges, with a 2% profit limit and stop loss still possible to find, or at least not too loss. Daily monitoring charts also require this kind of strategy.

Even with a very well-tuned stop loss system, you won’t have any guarantees that you will remain at least at zero. For day trading, you need to understand very clearly in what price corridor the coin will be traded in the next day and when there will be a transition by levels. This is extremely difficult. All day everything can go well, and then you lose everything you have earned for that day. It is imperative not to be greedy.

In my opinion, even with the current state of the cryptocurrency market, daily trading can bring a very good income, but only for this you need to spend a sufficiently large amount of time to continuously monitor the market, while the professionalism of a person must be at a sufficiently high level.  Of course you are right that the use of stop loss gives certain guarantees for the trader, but for some reason many traders refuse this function.  True, I still can’t understand why, because I am just learning and working on improving my scalping strategy in order to make good progress in this direction.

[conex]

It's profitable if you know how to do it, anyone with decent experience in trading can make profit in day-trading. There was an interesting thread about daytrading concerning psychology but i can't find it at the moment, will post it when i find it.

[Andrew Parker]

Yeah, it’s profitable way to do day trading, but needs to be done with proper calculation. And I do just that with help and support of FreshForex and their mighty Rebate scheme, it’s fabulous and helps big time to have any strategy as profitable.

[sayaya17]

Of course, daily trades can be profitable if we are already experienced and must have experienced a loss. So not necessarily every day profitable because in the sidelines the next day sometimes the market can not be controlled and can not be in the predictions according to technical analysis, even though in fact the daily trader should always pay attention to the chart Their daily trading.

[OrangeII]

It's profitable if you know how to do it, anyone with decent experience in trading can make profit in day-trading. There was an interesting thread about daytrading concerning psychology but i can't find it at the moment, will post it when i find it.

the thing that is quite difficult to control in daily trading is a percentage income from it. You can earn 2% or even 5% of the assets you have, but when you get stuck at a price, then it can become unwanted trading. don't overdo it in daily trading, even the 5% profit is big enough. it's just that, there are many risks that need to be considered, such as sudden decreases that force us to hold coins for quite a long period of time.

[TRONTON]

the thing that is quite difficult to control in daily trading is a percentage income from it. You can earn 2% or even 5% of the assets you have, but when you get stuck at a price, then it can become unwanted trading. don't overdo it in daily trading, even the 5% profit is big enough. it's just that, there are many risks that need to be considered, such as sudden decreases that force us to hold coins for quite a long period of time.

to anticipate it, always set aside profits and trade again with the previous capital, for example, already get 5%, convert profit in tether. and return to doing the same with initial capital with a 5% target plus a 5% stop limit. if something bad happens, at least you have nothing to loss.

Daily trading does require quick monitoring of changing charts, but if it is still in the same weekly range, fluctuations will always return to prices that are not too far away.