Day trading! The good the bad and the ugly

[Phonexy]

Am not really new in crpyto world but am always scared of taking the risk of trading.  As an experienced trader what are the advantages and disadvantages of day trading. Please I need your opinion. I really want to know those risk so as to avoid them. Then the possible way to maximize profit.

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[Mahanton]

Am not really new in crpyto world but am always scared of taking the risk of trading.  As an experienced trader what are the advantages and disadvantages of day trading. Please I need your opinion. I really want to know those risk so as to avoid them. Then the possible way to maximize profit.

Day trading is some sort of having trades which doesn't open for too long or simply you are actively trading up with shorter timeframes comparing on trading
with swing or trend types.This do involve lots of efforts and fast executions of decisions either you would close an order or just leave it hanging depending if its
already profiting or slowly deepen the loss if you don't set up any stop loss on it.

[BlackFor3st]

Daily trading is very risky if you are not very familiar with it, this type of trading are being use by professionals traders. The big advantage of daily trading is that you can easily multiply your investment if you are doing it right.

You don't need to wait for few weeks, months and years to obtain your profit. That is the big advantage of daily trading but it's disadvantage is it's opposite, you can also loss your investment in a short period of time if you are doing it wrong. So it's better that you will study it first before engaging to this kind of trading.

[dmty.0809]

If you are a beginner, you can use small capital first, practice price predictions when buying and selling. My advice is not to get too much ambition to get big profits in 1 day. Just 5-10% profit is enough.

[jrrsparkles]

Am not really new in crpyto world but am always scared of taking the risk of trading.  As an experienced trader what are the advantages and disadvantages of day trading. Please I need your opinion. I really want to know those risk so as to avoid them. Then the possible way to maximize profit.

Its same as the short term trading but you need to spend more time for selling or buying at the right time so more profits is the advantage of day trading like that huge losses in a day also possible with day trading.

Day trading is like instant reaction on the profits and loss with the market movement so mainly you need to be lucky to make profits.

[dark08]

Being a day trading is not easy since you are newbie in crypto trading you need first understand the concept of trading just start with a small capital make a excel of yoir risk management. The advantage of day trading you can earn faster in just short perios of time then the disadvantages you need a lot of time to monitor the flow of market.

[Indrawan77]

Day trading is a very short term trading, the risk is high because most of the indicator can't predict the high volatility market situation, and in day trading you can't win every time, you need to have a good analysis and experience to profit in day trading, day trade got a high risk but also can get a big profit, if you just start trading and you got no experience or time to pay attention then day trading is not for you

[pey]

It is very time consuming and stressful and most people who do day trade actually make loss if you consider how much time they spend on it.

[sujonali1819]

Am not really new in crpyto world but am always scared of taking the risk of trading.  As an experienced trader what are the advantages and disadvantages of day trading. Please I need your opinion. I really want to know those risk so as to avoid them. Then the possible way to maximize profit.

I am not experienced like other people but have some experience about trading. Anyway most of the people here will say [IMO] that day trading is risky and I am also agreed with the opinion.

Advantages: Day trading mainly profitable in bullish market when most of the coin/token just follow other coin . So in this case You need to a coin which did  not pumped recently and wait for upper movement that will not take more time in bullish markets. Thus day trading can help you to make some profit in short time.

Disadvantages : Sometime day trading  will very risker when market crush hard in short time. Such as suddenly bitcoin pump/dump 10% and all altcoins start to down . at this situation you can not make profit / you will be in losses. Then how you can make profit by selling your coin in one day buy/sell period? Obviously You need to wait till market recover again, don't it? For that day trading is not profitable all time. Thanks.

[hurry_hore]

Am not really new in crpyto world but am always scared of taking the risk of trading.  As an experienced trader what are the advantages and disadvantages of day trading. Please I need your opinion. I really want to know those risk so as to avoid them. Then the possible way to maximize profit.

One aspect that exists in trading psychology is fear, but on the other hand there must be courage to enter into trading world. These two things are not always right and also not always wrong, they must be able to be controlled according to the conditions and situations appropriately.

Accuracy in technical analysis does not come suddenly, but need lot of practices and experiences.
Back to your case. For daily trading, the advantages are as follows:
    1. Can get profits quickly
    2. There is no need to do in-depth analysis, just pay attention to a few points such as the news of a coin, general news about the crypto world on that day.
    3. If trading in crypto currencies other than the top three, news is very important. Therefore it is necessary to participate in the news channels of a crypto currency and if able, know the movement of a large number of crypto to determine a buy position or (if you already have) sell.
   4. Losses can be limited to smaller

Daily trading disadvantages are:
   1. The time of analysis is very limited, so sometimes it is not accurate.
   2. The benefits obtained are generally not large, 3-20% is a good number.
   3. Risk for losses is higher

[ichai]

Am not really new in crpyto world but am always scared of taking the risk of trading.  As an experienced trader what are the advantages and disadvantages of day trading. Please I need your opinion. I really want to know those risk so as to avoid them. Then the possible way to maximize profit.

I don't think anyone can help you on this issue. If so, that's just their guess. First, everyone is not a prophet so they cannot predict the trends correctly. Secondly, if you make money too easily, everyone is rich in the crypto market.
The important thing here to avoid that risk is psychological control. greed is always the main cause. If you control greed, sell risk at the best time, you will be rich soon.

[Pamadar]

Day trading is a very short term trading, the risk is high because most of the indicator can't predict the high volatility market situation, and in day trading you can't win every time, you need to have a good analysis and experience to profit in day trading, day trade got a high risk but also can get a big profit, if you just start trading and you got no experience or time to pay attention then day trading is not for you

You are like doing gambling if you don't have enough knowledge with this form of trading, you are taking the risk of trying your luck to pick coins that will move according to your expectations, if the coin will not brig the result that you want then expect that you'll your investment that day, you should use spare or small amount to begin with and check if your attitude will fit to this place.

[Phonexy]

ave learned a lot through this discussion. Am going to start from demo account and trade I don't want to loose any because am already broke. But am thinking of buying some good token and hold for like six months if I make profit I'll sale it and buy another one. The experience people are sharing am already scared

[adzino]

Am not really new in crpyto world but am always scared of taking the risk of trading.  As an experienced trader what are the advantages and disadvantages of day trading. Please I need your opinion. I really want to know those risk so as to avoid them. Then the possible way to maximize profit.

Well, you will have to take the risk if you want to make profit. After all making profit isn't that easy. If you are scared, start day trading with small amount. Keep a small amount of percentage as your profit/loss goal limit. Once you reach this limit, stop. Slowly start increasing the limit to a reasonable level. You will eventually get used to it and fear won't be a part your trading anymore.

[exstasie]

Am not really new in crpyto world but am always scared of taking the risk of trading.  As an experienced trader what are the advantages and disadvantages of day trading. Please I need your opinion. I really want to know those risk so as to avoid them. Then the possible way to maximize profit.

The obvious risk is financial loss. Most traders lose money. This happens through a combination of lacking risk management, lacking a profitable trading system, and trading emotionally.

If you want to be successful, learning good risk management is vital: Risk Management Techniques for Active Traders

You need to have self awareness about your trading psychology, so you can avoid the pitfalls of emotional trading: How to Manage the Emotions of Trading

Finding a profitable system that works for your trading style may take some time. I suggest starting with simple trend trading systems before moving onto more complex TA.

Good luck!

[harizen]

Am not really new in crpyto world but am always scared of taking the risk of trading.  As an experienced trader what are the advantages and disadvantages of day trading. Please I need your opinion. I really want to know those risk so as to avoid them. Then the possible way to maximize profit.

The risks of doing day trading are:

a) You can lose your funds the same day
b) You can lose your focus the same day
c) You will hate crypto on the same day
d) You will leave crypto on the same day
e) If you won a trade, you can become greedy the same day that will result to (a,b,c,d).

What I mean here is, don't be scared. Yes, it's difficult but that's the challenge here.

As for my advice, I suggest not to do day trades for now since you are new. Try first the environment in long term trades. The goal is to build up the trading experience so that when the time comes that you think are now ready and understand the risks, you can now test the waters in doing day trades. It will take time so don't rush getting profits.

[rodel caling]

Daiy trading is profitable and risky way to earn money, focus and quality time to avoid more loses, sometimes as day trader need to close eyes if the coins or token goes into trap.
In the world of investment we always need to accept the have good and bad effect depends on the people how it handle carefully.

[senyorito123]

If you are a beginner, you can use small capital first, practice price predictions when buying and selling. My advice is not to get too much ambition to get big profits in 1 day. Just 5-10% profit is enough.

That's right, we should maintain neutral mindset towards trading because every certain situations on buy and sell isn't predictable. The trend was so volatile, yet so indefinite to decide quickly in terms of selling. Some points when a trader has no certain idea, they tend to lose patience and became panic when there's bear market happening which will trigger panic selling. So learn how to control emotions and then prefer choosing to hold your assets at longer timelines in order to grow it steadily when the right time comes.

[jhongzjhong]

In the world of investment we always need to accept the have good and bad effect depends on the people how it handle carefully.

That is definitely right, there are always having a good o bad effect but when we encounter these problems we should bare our minds all the mistakes that we had. A day trader may take a risk but they said that the more you had risked the more profit will come and I believed on that. Well, if you have a passion on day trading then you can, but if not then, please don't.

[BitHodler]

Slowly start increasing the limit to a reasonable level. You will eventually get used to it and fear won't be a part your trading anymore.

Fear will always play some form of role, whether people want to admit it or not, especially when it comes to larger amounts being leveraged. The crypto market is one of the most brutal markets available. It's no kindergarten.

If you trade spot you at least don't lose your position. If you cash out too early/late you still have the same amount of funds, while if you are over-leveraged, you are likely going to lose it all without a stop to prevent liquidation.

I would say that people are better off paper trading for a week or two to see how things go. Most people will find out that they can't beat the market, which directly should be a singal to not try trading with real money.

[Natalim]

You need to have some consistency as a day trader to maximize your profit.
This is the best way of trading to increase your income in short term, but you need to have some proper knowledge and skills to make you consistent.

This is a high risk trading activity, but this can also give better reward compared to long term trading, you have to know your capability first if you can be a profitable trader. The title of your thread " bad and the ugly" are only for those who are not successful, you are the one who dictate your future here.

Though this is a day trading, this is not a short term journey, you need to practice more to be consistent and then with consistency, that would make you successful in the long run, which would make you consistently profitable and will enjoy an ultimate success.

[nur rochid]

You need to have some consistency as a day trader to maximize your profit.
This is the best way of trading to increase your income in short term, but you need to have some proper knowledge and skills to make you consistent.

This is a high risk trading activity, but this can also give better reward compared to long term trading, you have to know your capability first if you can be a profitable trader. The title of your thread " bad and the ugly" are only for those who are not successful, you are the one who dictate your future here.

Though this is a day trading, this is not a short term journey, you need to practice more to be consistent and then with consistency, that would make you successful in the long run, which would make you consistently profitable and will enjoy an ultimate success.

the knowledge and consistency are difficult to implement. especially for emotional control. daily trading is very dependable on the psychological to analyze larger movements. good or bad depends on the person, because every trader has a different trading style

[ajqjjj]

You need to have some consistency as a day trader to maximize your profit.
This is the best way of trading to increase your income in short term, but you need to have some proper knowledge and skills to make you consistent.

This is a high risk trading activity, but this can also give better reward compared to long term trading, you have to know your capability first if you can be a profitable trader. The title of your thread " bad and the ugly" are only for those who are not successful, you are the one who dictate your future here.

Though this is a day trading, this is not a short term journey, you need to practice more to be consistent and then with consistency, that would make you successful in the long run, which would make you consistently profitable and will enjoy an ultimate success.

the knowledge and consistency are difficult to implement. especially for emotional control. daily trading is very dependable on the psychological to analyze larger movements. good or bad depends on the person, because every trader has a different trading style

Everyone have different styles in trading, but everyone know day trading is a difficult to predict particularly so day traders are concentrate and active in all the time. The recent market was good supporting to day trading so we will earn good profit and those are lazy in trading this will never suitable.

[cryptosignal.rocks]

My trade setups (swing trading) for today

BTC/USD
Pivot Point 2nd resistance $8,230
Take profit $8,167
Biggest resistance 7 days $8,125
Pivot Point 1st resistance $8,075
Pivot Point 1st support $7,740
Buy more $7,623
Pivot Point 2nd support $7,560
Biggest support 7 days $7,454

[rizkyhiw]

Am not really new in crpyto world but am always scared of taking the risk of trading.  As an experienced trader what are the advantages and disadvantages of day trading. Please I need your opinion. I really want to know those risk so as to avoid them. Then the possible way to maximize profit.

Daily trading takes a lot of time and thinks of continuing to see market movements every day, it is very risky for you personally where you are someone who is not ready to accept all risks, I do not recommend that daily trading can result in you panicking every day and of course market trends it must be seen where the market is in a not-so-good situation if you want the parts to swing every day, I would advise you to trade long-term by buying at a fairly cheap price and selling later with better market conditions because you don't need lots of time just waiting until the time comes to sell.

[b3llsf1l3s]

You need to have some consistency as a day trader to maximize your profit.
This is the best way of trading to increase your income in short term, but you need to have some proper knowledge and skills to make you consistent.

This is a high risk trading activity, but this can also give better reward compared to long term trading, you have to know your capability first if you can be a profitable trader. The title of your thread " bad and the ugly" are only for those who are not successful, you are the one who dictate your future here.

Though this is a day trading, this is not a short term journey, you need to practice more to be consistent and then with consistency, that would make you successful in the long run, which would make you consistently profitable and will enjoy an ultimate success.

Usually the day traders who just know how to do it are immediately greedy with the profits earned. Even though the risk is greater. Actually, if you really want to become a daily trader, chart analysis skills must be a top priority.

[Polyxchange]

The risks you need to know when day trading cryptocurrencies:

• Capital loss
• Addiction
• Significant stress
• False market information

[tenakha]

The current risk exists in all types of trade. I think you should ask yourself what you want. So daily trading is not the only option. Instead try other opportunities. less risky and more appropriate for you. Try as much as you can, in this area, otherwise there is a 50% possiblity that everything will be the opposite.

[nydiacaskey01]

Am not really new in crpyto world but am always scared of taking the risk of trading.  As an experienced trader what are the advantages and disadvantages of day trading. Please I need your opinion. I really want to know those risk so as to avoid them. Then the possible way to maximize profit.

I don't call myself as an expert in trading but I can share with you my experience in day trading. In day trading, you need to spend a lot of time monitoring your investments specially time and timing is crucial in day trading. If you miss an exit point, you may not be able to sell you coin at the price that you plan to sell. So planning is important and timing in day trading.

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[leowonderful]

If you're not completely new to trading, you can either deposit a very low amount of money on an exchange and try your hand at something like swing trading and get used to the exchange you choose, or paper trade for a short time until you get comfortable with things. It's still important that you start trading with real money quickly, though, because most people do act differently when real money is being risked. Just make sure you don't put too much money in at first, because there is a very high chance you will lose a lot of that money in a few days.

[blackhawkeye1912]

For starter like you doing bay trading, better to start with an amount that you can afford to lose. Day trading requires a lot of skills and experience. But, if you'll not give it a try how could you earn the experience. So, have the guts to do it but remember the amount should be small enough not you to get depress when losses come.

[omonuyak]

Day trading is very good if you know the risk involved and have the mind of handling loses. I have been trying to explain to my friends on how to take advantage of the up and down of the market daily and make good profit from the market and he has not really cope with it, last month he went ahead and started day trading and before you know he started incurring losses. Now he called day trading many name.

[Thanasis]

Day trading is very good if you know the risk involved and have the mind of handling loses. I have been trying to explain to my friends on how to take advantage of the up and down of the market daily and make good profit from the market and he has not really cope with it, last month he went ahead and started day trading and before you know he started incurring losses. Now he called day trading many name.

People see the opportunity to make money but they didn't realize that they can fit or not for that kind of trading.

Day trading is risky and not suitable for the people who are conservative and will be stressed if they lost their money,but someone loves to take risk and have enough money for it then day trading will rewards them most of the time.

[lovesybitz]

Am not really new in crpyto world but am always scared of taking the risk of trading.  As an experienced trader what are the advantages and disadvantages of day trading. Please I need your opinion. I really want to know those risk so as to avoid them. Then the possible way to maximize profit.

Being one of the traders mate, you supposed to be a risk taker. You shouldn't scared actually, you must assume to yourself that you are already lose, don't think any negative thoughts about in earnings. Because as a trader, We also mustn't depend our profit in our luck it should depend on the actual trade happening if you are in the exchange dude.

[kamudd]

The advantage is that if it works then we will be able to get profits on a regular basis or every day, and the risk is that when the price of coins you hold starts to decline, it is certain that emotions and panic will easily emerge.

[sgenuine]

The risks you need to know when day trading cryptocurrencies:

• Capital loss
• Addiction
• Significant stress
• False market information

There is one very important thing you have mentioned here - significant stress. I guess this is the major minus of a day trading. If a person feels stress always, with time, he starts making more and more mistakes.

[darasinmi4show]

Day trade can either be good or bad or ugly depends of what happen at that market time. Sometimes it is do profitable if you find a favourable market at that period it may go otherwise again.

[DoublerHunter]

Am not really new in crpyto world but am always scared of taking the risk of trading.  As an experienced trader what are the advantages and disadvantages of day trading. Please I need your opinion. I really want to know those risk so as to avoid them. Then the possible way to maximize profit.

Being one of the traders mate, you supposed to be a risk taker. You shouldn't scared actually, you must assume to yourself that you are already lose, don't think any negative thoughts about in earnings. Because as a trader, We also mustn't depend our profit in our luck it should depend on the actual trade happening if you are in the exchange dude.

^ This is true, you should have set a good amount that you have been risked in trading and of course that amount that you can afford to it. Day trading is very profitable if you know how to manage with it but it is also contained with a high risk. High-risk taker can be also high profitable made and sometimes you will end up nothing on it. So, be careful when you are in trading you should know much better in the trading business.

[Furious 7]

The risks you need to know when day trading cryptocurrencies:

• Addiction

Addiction'
if it's about profit and pleasure I think it's very good. what is the meaning of the word above?
I don't feel addicted to trade except a little scared because of a bad issue.

[Oilacris]

Am not really new in crpyto world but am always scared of taking the risk of trading.  As an experienced trader what are the advantages and disadvantages of day trading. Please I need your opinion. I really want to know those risk so as to avoid them. Then the possible way to maximize profit.

Being one of the traders mate, you supposed to be a risk taker. You shouldn't scared actually, you must assume to yourself that you are already lose, don't think any negative thoughts about in earnings. Because as a trader, We also mustn't depend our profit in our luck it should depend on the actual trade happening if you are in the exchange dude.

^ This is true, you should have set a good amount that you have been risked in trading and of course that amount that you can afford to it. Day trading is very profitable if you know how to manage with it but it is also contained with a high risk. High-risk taker can be also high profitable made and sometimes you will end up nothing on it. So, be careful when you are in trading you should know much better in the trading business.

Its just normal to think that the higher the risk the higher the profits you would possibly made.

Trading system do varies which means there are short/day trades and other are even longer duration depending
on which one would eventually work or profitable for you but there are people who do always comes after for fast and shorter trades
but as been said this isn't really that easy to achieve.

[airdagon]

For a beginner, day trading in my opinion is pretty good, but my advice when you do day trading is not to look for big profits, because it's dangerous, make 1-2% profit, it's already very good

[sana54210]

You need to have some consistency as a day trader to maximize your profit.
This is the best way of trading to increase your income in short term, but you need to have some proper knowledge and skills to make you consistent.

This is a high risk trading activity, but this can also give better reward compared to long term trading, you have to know your capability first if you can be a profitable trader. The title of your thread " bad and the ugly" are only for those who are not successful, you are the one who dictate your future here.

Though this is a day trading, this is not a short term journey, you need to practice more to be consistent and then with consistency, that would make you successful in the long run, which would make you consistently profitable and will enjoy an ultimate success.

the knowledge and consistency are difficult to implement. especially for emotional control. daily trading is very dependable on the psychological to analyze larger movements. good or bad depends on the person, because every trader has a different trading style

But without that knowledge and consistency, there is no way a trader can make it properly,but for one to really grab everything we try to have knowledge about in trading, we must really have passion for it. Trading is for passionate people, it is when you are passionate for it that you will be eager to want to go for quality knowledge and it is what will help in being consistent in the trading even when you are being faced with up and down.

The people that allow the downs of trade get into them are those that do not really have the will for it, I mean those that just see trading as money doubling scheme, but with quality knowledge, passion, practice and consistency, there will be zero tolerance for failure.

[SvonioneFromMangoCoinz]

Am not really new in crpyto world but am always scared of taking the risk of trading.  As an experienced trader what are the advantages and disadvantages of day trading. Please I need your opinion. I really want to know those risk so as to avoid them. Then the possible way to maximize profit.

Don't try to venture in crypto market and that's my sincere advice. I once fell so great because of greed by inaccurate fomo news. I lost $ 2k within 1 week. That is a bad thing.
In the crypto market, to maximize your profit after year, you should manage risk and not be greedy. This is the core experience that helps you get rich in the crypto market.

[Xampeuu]

You need to have some consistency as a day trader to maximize your profit.
This is the best way of trading to increase your income in short term, but you need to have some proper knowledge and skills to make you consistent.

This is a high risk trading activity, but this can also give better reward compared to long term trading, you have to know your capability first if you can be a profitable trader. The title of your thread " bad and the ugly" are only for those who are not successful, you are the one who dictate your future here.

Though this is a day trading, this is not a short term journey, you need to practice more to be consistent and then with consistency, that would make you successful in the long run, which would make you consistently profitable and will enjoy an ultimate success.

the knowledge and consistency are difficult to implement. especially for emotional control. daily trading is very dependable on the psychological to analyze larger movements. good or bad depends on the person, because every trader has a different trading style

But without that knowledge and consistency, there is no way a trader can make it properly,but for one to really grab everything we try to have knowledge about in trading, we must really have passion for it. Trading is for passionate people, it is when you are passionate for it that you will be eager to want to go for quality knowledge and it is what will help in being consistent in the trading even when you are being faced with up and down.

The people that allow the downs of trade get into them are those that do not really have the will for it, I mean those that just see trading as money doubling scheme, but with quality knowledge, passion, practice and consistency, there will be zero tolerance for failure.

I think every trader has suffered losses, especially for daily traders, who often analyze and execute transactions. but indeed with consistency in analysis, we can continue to develop to correct every error, so that the maximum profit will be achieved soon

[Pom_bensin]

Am not really new in crpyto world but am always scared of taking the risk of trading.  As an experienced trader what are the advantages and disadvantages of day trading. Please I need your opinion. I really want to know those risk so as to avoid them. Then the possible way to maximize profit.

I think the selection for daily trading is very good, but for the advantages of daily trading is to get profits quickly, but for the weakness is I think getting profit cannot be maximized when the price rises in the next day period, so I think daily trading only gets a small profit but can be periodic .

[Barbut]

In my case, day trading was bad and ugly. I didn`t manage to make a profit with day trading, I lost a lot of coins trying that. Day trading wasn`t for me, I found myself in mid and long term trading, it`s much easier for me, to track them like that.
What I learned from my experience, don`t get into day trading: if you don`t have a minimum couple of hours for trading every day if you are impatient if you don`t have good analytical skills.

[Eildosa]

Day trading will help you make profits quickly, every day. This can be dangerous because you can not pick the right time to buy and the price of the coin will go down and then you have to wait for him to grow again to sell it. But in general it is good because you can adjust the number of transactions and your profits.

[perla]

Am not really new in crpyto world but am always scared of taking the risk of trading.  As an experienced trader what are the advantages and disadvantages of day trading. Please I need your opinion. I really want to know those risk so as to avoid them. Then the possible way to maximize profit.

Disadvantage maybe like you will always think  how to get profit everyday. And pick good coins to trade for day trading, for me personally is really hard. That is why i am not into day trading. And afraid to take risk, i have same feeling sometime too.

[yvesp110]

For a beginner, day trading in my opinion is pretty good, but my advice when you do day trading is not to look for big profits, because it's dangerous, make 1-2% profit, it's already very good

I think that day trading is something that you should not expect big gains from. Of course little gains are good for safe day trading because you might counter big risk of losing value if you go for big gains. When it comes to long term hodl, you could literally make as much as 10000X as was made back in 2017 when the rise in the value of Bitcoin was 10kX.

[CryptoLing]

I've been day trading for years now and I could say that the good is you don't really care about the fluctuation because you're not checking the price every second, set up an alert on your apps for your target will help. As the ugly, I would say that sometimes I miss a pumped coin that is not on my watch.

[futureofeth]

For day trading we need to have a high investment in order to make a decent profit, and at the same time, there is huge risk involved in it, which helps us to hold the coin until the prices. Day trading is very risky because we need to actively watch the market ups and down otherwise, we might lose the chance for making money.

[klaaas]

For a beginner, day trading in my opinion is pretty good, but my advice when you do day trading is not to look for big profits, because it's dangerous, make 1-2% profit, it's already very good

It would already be a good thing if you can keep the stack in the green numbers as a starter.

The hardest is to take your losses at the end of the day if orders didnt get executed. Dont let become short trades long ones in the hope they get pulled.

[FanEagle]

Who the hell gets addicted to day trading. I personally tried it and I feel like all day traders are crazy people, unless its your full time job and you have to somehow make money to put bread on your table there is absolutely no reason to check all those small numbers and charts for whole day, you should be at least getting a breather once in a while.

I do not like working in an office with my suit on neither and I work at home freelancing but its still a lot better since I have a chance to do my job whenever I want, like it could be morning or evening but I get to choose when I will work, that is why I like it, day traders are not like that, those guys glue their face to the screen and check every single detail of every coin and then do moves according to that, its crazy and turns people into little machines.

[Kocret02]

Am not really new in crpyto world but am always scared of taking the risk of trading.  As an experienced trader what are the advantages and disadvantages of day trading. Please I need your opinion. I really want to know those risk so as to avoid them. Then the possible way to maximize profit.

the advantage of daily trading is that we can get profits on a daily basis so we can take advantage of the sales situation quickly. the disadvantage is that we may only get a small profit cannot get a large amount of profit because the daily coin increase cannot be maximally high and fast.

[velive08]

If you are a beginner, you can use small capital first, practice price predictions when buying and selling. My advice is not to get too much ambition to get big profits in 1 day. Just 5-10% profit is enough.

profit 5% for beginners is very good and it can be an advantage if it can be periodic and continues, but the weakness of newbie is when getting a small profit they are eager to get bigger profits, so maybe that is a daily trading weakness for newbies

[ethereumhunter]

Day trading is good if we have the skills to determine where the price want to moves. But that will be difficult if we only follow and use the news from out there to find the good price because not all of the news will be good as the sign to trade. We could use the news as a guide to decide the good price to buy and sell but still, we need to analyze for our trade so we can know how much profit we should take. There are needs time to make a big profit and needs experiences too to become a pro day trader.

[maldini]

Daily trading is very risky if you are not very familiar with it, this type of trading are being use by professionals traders. The big advantage of daily trading is that you can easily multiply your investment if you are doing it right.

You don't need to wait for few weeks, months and years to obtain your profit. That is the big advantage of daily trading but it's disadvantage is it's opposite, you can also loss your investment in a short period of time if you are doing it wrong. So it's better that you will study it first before engaging to this kind of trading.

It is true that daily trading is very risky where every day we have to meet market manipulation. And also trading daily will not be possible if the person does not know the basics of trading, even the basics are not enough, maybe daily trading is suitable for people at intermediate level.

It is also true that daily trading is very profitable than long-term trading, but that does not mean it never loses, even often. Daily trading must be in front of the monitor every day to see market charts, analyze, see news, and many other considerations that must be done.

[whirlcoin]

Am not really new in crpyto world but am always scared of taking the risk of trading.  As an experienced trader what are the advantages and disadvantages of day trading. Please I need your opinion. I really want to know those risk so as to avoid them. Then the possible way to maximize profit.

there is both good and bad things involved in day trading the good thing is you can get profit daily in your life the bad thing is it will makes you more tension under pressure is the person after sometimes so if you are in this kind of situation then you will be a day trader.

[bitbunnny]

As far as I know day trading ends up bad and ugly for many traders. Although it could be very profitable it's also very risky and many don't manage to make profit and often struggle with loss. It brings a lot of pressure and not everyone can hold that. But it's good to try and see where your limits are.

[ridha inoue]

if you always think if you will loss if you trade you will never ever get your trading profit.
you must believe if with trading and take risk is the best way to make money in here.
bring it your spirit on start trading.

[Shenzou]

Am not really new in crpyto world but am always scared of taking the risk of trading.  As an experienced trader what are the advantages and disadvantages of day trading. Please I need your opinion. I really want to know those risk so as to avoid them. Then the possible way to maximize profit.

Day trading is a great way to make some consistent profit especially in the bitcoin market given the fact that it is quite volatile and keeps changing, given if you really know what you are doing, i have tried it in the past and it really gives a consistent profit, but the problem with it is that it is only good for short terms and not long term periods so choosing it over other methods could lead you to missing out on some good profit, that is why in trading you should always try to mix and always try different ways .

[oktana]

a special problem for daily trading is when prices fall far short of expectations and even a range that is too far from our initial purchase, if we continue to emphasize the feeling of not wanting to loss without looking at the situation analysis. then CL will be very often done and immediately see the movement of other coins and buy them.

Without good management, this will continue over and over for each subsequent coin and make traders go bankrupt. waiting is the most chronic thing for this.

[guoyu78]

For starter like you doing bay trading, better to start with an amount that you can afford to lose. Day trading requires a lot of skills and experience. But, if you'll not give it a try how could you earn the experience. So, have the guts to do it but remember the amount should be small enough not you to get depress when losses come.

But before this, he really needs to have a very sound knowledge and  a very deep strategy, I know that practice makes perfect, but you can only practice what you have a deeper knowledge of, otherwise, he will end up practicing over and over again without getting it right, and no matter how little the money is, the number of time he loses the trade is what matters, if he is using $15 to practice and loses like 20 times, do you know how much that is? So a day trader must first work on a strategy which is the first step to having a very good professional trading, then he can think of practicing with little money.

[Lawrenzoo]

There is a good and bad site for everything. In my opinion day trading is very profitable, though there are many risks here. Currently, I mostly do day trading because I check every exchange in the market every day, at the exact moment I bought the token and at the same time buying the coins was increasing its price. Because whenever a new exchange is added and the price of coins continues to rise, it is an important tip to day trading. There are many more such tips that will help you do much better than day trading.

Day trading iss sweet, but greed in day trading is what make people loose trade

[emmybd]

No risk, no gain. If you are interested to do trading then you have to take some risk. Don't fear of taking risk, or you can't be successful. Just research well and be informed about things.

[barbara44]

As far as I know day trading ends up bad and ugly for many traders. Although it could be very profitable it's also very risky and many don't manage to make profit and often struggle with loss. It brings a lot of pressure and not everyone can hold that. But it's good to try and see where your limits are.

Those who suffer losses a lot in day trade really need to examine themselves and their trade and be sure that they are doing the correct thing. There is no way someone who has the right strategy and skills will make mistakes of losing their trades.

Majority of trader that loses their day trade is either greedy type or the are using instinct to place their trade order, and these people are bound to fail woefully, for one to really not suffer loses in trading crypto, one needs to be focused, be happy trading, never to be greedy and the most of it all is to study hard to show thyself approved when he gets to live trading.

[numanoid]

if you always think if you will loss if you trade you will never ever get your trading profit.
you must believe if with trading and take risk is the best way to make money in here.
bring it your spirit on start trading.

Don't joke with me man. Taking a risk without know how to trade is something very bad move. it's more even crazy if you are thinking you can rich quick by day trading which is impossible

[Indamuck]

Most people will be better off working a normal job:  No risk of losing money and a generally stable income

Day trading:  Very few people can actually make a consistent profit, requires a large amount of startup capital, very stressful and will give you a heart attack.

[bitgolden]

Day trading will help you make profits quickly, every day. This can be dangerous because you can not pick the right time to buy and the price of the coin will go down and then you have to wait for him to grow again to sell it. But in general it is good because you can adjust the number of transactions and your profits.

Certainly it will but not an automatic ticket, day trading is really a tasking one, and before you even get to choose the best spot, you will realize that the day had already gone, and I wonder how those who claim they are successfully scalp trading are doing it, if they are not using gut intuition or assumption to trade.

Sometimes I see the hours I spend on technical analysis alone trying to figure out what the best spot will be for me to trade and before I get convinced about a particular one, market would have gone up and down several times and I ended up postponing it to another day. More of the reason why I just prefer to buy a good coin and hold for the time I will see profit.

[binhvo1505]

 The benefit of trading on that day is that you can get a lot of profit in a day, maybe 10% - 30% depending on your experience and luck. But sometimes the market will not be good and it can create a long red candle and you will lose a lot because you can not order stoploss.
The disadvantage is that the risk is quite high and it will easily make you stressed. I think you should not participate in trading during the day because it needs more experience than reading.

[Jamjamz30]

If you're going to do day trading, you must be well-thought of the techniques and strategies in day trading. Otherwise, you end up broke after some times. Even experienced traders are losing with day trading, what more to starters. With the volatility and unpredictability of cryptocurrency, you must be very flexible to adjust to surprises.

[bering]

If you were too scared for taking action because of the risk then you will never get what you want and everything related to money always be the risk behind it however day trading could be good or could be worst depend on your decission to pick and trade the particular altcoins or bitcoin so the problem here is how far you able to utilize market movement to get maximum profit because there is no guarantee too long term trading instead of day trading could be good

[yvesp110]

If you were too scared for taking action because of the risk then you will never get what you want and everything related to money always be the risk behind it however day trading could be good or could be worst depend on your decission to pick and trade the particular altcoins or bitcoin so the problem here is how far you able to utilize market movement to get maximum profit because there is no guarantee too long term trading instead of day trading could be good

It is an open secret and a very unambiguous fact that if you do not take risk, you would not make the money be it crypto or any other business. It is the risk that stands an entrepreneur out and make him unique. In the process, of course there is loss but there could also be gains and when there are gains, at times they are super profits. When it comes to trading, you can’t escape the risk factor.

[BitHodler]

The benefit of trading on that day is that you can get a lot of profit in a day, maybe 10% - 30% depending on your experience and luck.

Maybe on a very volatile day or when a coin is bouncing up and down within a firm range. I can't think of any trader who is able to consistently profit even 1% per day. It may sound like peanuts, but you'll know it isn't when you try it yourself.

Even the best traders end their daily trading sessions with a loss from time to time. It's impossible to book consistent results in a market being this irrational. Luck is never a reliable factor. It runs out eventually with severe losses as result.

Don't believe people on social media flexing with their imaginary profits. Most of them tend to sell signals as well. If their trades were so profitable as they make it seem, they wouldn't bother to sell you signals.

[iMark]

Am not really new in crpyto world but am always scared of taking the risk of trading.  As an experienced trader what are the advantages and disadvantages of day trading. Please I need your opinion. I really want to know those risk so as to avoid them. Then the possible way to maximize profit.

Fear will not be beneficial for you it will only harm you, if you are still afraid then better do not enter day trading first, because in my opinion day trading is only for people who are brave, fear will only make you panic when market conditions deteriorate quickly, if you want to enter daytrade make sure you have overcome your fear problem first

[bitgolden]

The benefit of trading on that day is that you can get a lot of profit in a day, maybe 10% - 30% depending on your experience and luck. But sometimes the market will not be good and it can create a long red candle and you will lose a lot because you can not order stoploss.
The disadvantage is that the risk is quite high and it will easily make you stressed. I think you should not participate in trading during the day because it needs more experience than reading.

We can say that 10% is quite feasible to make on a trade in a day, but I really doubt is anyone can trade up to 20% to 30% in a day even if it is scalp trading, the market is too volatile for anyone to take more than 10%, and as regards the long red candle, there is no way a trader can trade without experiencing this at one point in time, which he might not even be prepared for no matter what the technical analysis say, and reason why an expert traders will always advise that many intending trader should try as much as possible to avoid margin trade or trade with extremely low margin so that when the candle becomes red, the trader will still survive no matter how long it is.

[iMark]

As far as I know day trading ends up bad and ugly for many traders. Although it could be very profitable it's also very risky and many don't manage to make profit and often struggle with loss. It brings a lot of pressure and not everyone can hold that. But it's good to try and see where your limits are.

Thats for traders who do not have the skills, knowledge and experience, of course many of them might end up in losses. but for a professional trader, of course, the possibility of profits will be much greater, and your job is to continue to practice to be more professional, so the chances of your winnings will continue to grow. trading will be good or bad, depending on your skills

[BitTraderCute]

As far as I know day trading ends up bad and ugly for many traders. Although it could be very profitable it's also very risky and many don't manage to make profit and often struggle with loss. It brings a lot of pressure and not everyone can hold that. But it's good to try and see where your limits are.

Thats for traders who do not have the skills, knowledge and experience, of course many of them might end up in losses. but for a professional trader, of course, the possibility of profits will be much greater, and your job is to continue to practice to be more professional, so the chances of your winnings will continue to grow. trading will be good or bad, depending on your skills

our trading result depend on our self.if we have no skills at all, easy to us lossing our money.maybe we only make useless speculation with our money.if we decided to be trader or investor in this market, we have to prepared our self with trading skills, both on technical or fundamental.

[Rufsilf]

Daily trading is very risky if you are not very familiar with it, this type of trading are being use by professionals traders. The big advantage of daily trading is that you can easily multiply your investment if you are doing it right.

You don't need to wait for few weeks, months and years to obtain your profit. That is the big advantage of daily trading but it's disadvantage is it's opposite, you can also loss your investment in a short period of time if you are doing it wrong. So it's better that you will study it first before engaging to this kind of trading.

Exactly, the good thing about trading is that you can easily exit even before the market closes to avoid losses or risk. Day trading can also be very profitable because of margin or leverage trading but make sure you do it right but if you don't do it right then it can also be very unprofitable. Before entering in day trading make sure you have enough knowledge about it because it is very risky.

[stepwilli]

There is a good and bad site for everything. In my opinion day trading is very profitable, though there are many risks here. Currently, I mostly do day trading because I check every exchange in the market every day, at the exact moment I bought the token and at the same time buying the coins was increasing its price. Because whenever a new exchange is added and the price of coins continues to rise, it is an important tip to day trading. There are many more such tips that will help you do much better than day trading.

Day trading iss sweet, but greed in day trading is what make people loose trade

That is part of the killer of a trade too, but what kills trade most is when someone does not trade the right coin, and coupled with the fact that we have lots of bad projects that one cannot really guarantee of their future and could crash at any time, but one of the first step to take when making a decision to trade is to first trade the right coin that will always have volume every day.

If you trade the right coin, no matter the mistake you make on the trade on a particular day, there will always be an opportunity for correction in the case of Bitcoin, Imagine I place an order in a day for Bitcoin, and the market goes down, it is sure that I will always get the increase back, but where people now need to work on next after picking the right coin, is the greed aspect of it, which makes people not to take profit when they ought to have taken one.

[Mr.ZODIAC]

not always daily trading brings good luck, because I have some positions, which Delete my income.  Despite the fact that I control the market almost every day, it is still very difficult to predict   price fluctuations in one direction or another.

[Wolfwar]

Daily trading is very difficult, especially those traders who have not anticipated the growth of Bitcoin in the last few days feel this.  After all, someone can sell coins, To wait for the next fall, And here, not long ago, Bitcoin went up.  Joke of fate.

[akram143]

Am not really new in crpyto world but am always scared of taking the risk of trading.  As an experienced trader what are the advantages and disadvantages of day trading. Please I need your opinion. I really want to know those risk so as to avoid them. Then the possible way to maximize profit.

how the people seeing the development of his trading experience will only think about that if a person think that reading is difficult then it will definitely difficult if a person got interest and think differently for making money then he will definitely make some profit using the day trading that is the difference between peoples who are trading.

[kodtycoon]

if you are afraid of risk then day trading will not make you good, unless you are able to fight that fear and start doing day trading with money that is at least ready to lose a few percent, so you can learn every pattern that happens to build an experience you are in day trading

[DGulari]

if you are afraid of risk then day trading will not make you good, unless you are able to fight that fear and start doing day trading with money that is at least ready to lose a few percent, so you can learn every pattern that happens to build an experience you are in day trading

Risk is always involved in everything you want, as long as you want to earn profit, there should be a risk. If you are afraid with risk, its better to not risk your money for something you are afraid. Day trading would be a quick way to earn some money, but the risk to lose your whole balance is high too.

[Ucy]

You really want to maximize profits without taking risks?

Well one advantage I can think of now is that you can make more money day trading than weekly, monthly or long term trading.  And the disadvantage is that trading requires some level of skill and it takes time

[deisik]

Am not really new in crpyto world but am always scared of taking the risk of trading

If you are scared, avoid trading (and still more so day trading)

Actually, avoid anything that involves and requires thorough consideration if (when) you are scared (like buying a home or whatever). Scared means your decisions will be heavily affected by your emotional state (being scared), but that's how people are losing money in trading (by being emotional). So the first thing you should keep in mind is getting rid of unbridled emotions and fear is definitely one such emotion. If you can't do that (no matter how hard you want to believe in the opposite), this will be your major risk. There are other risks, of course, but this risk is the mother of all risks which cannot be offset or compensated by anything as long as you are behind the wheel and the one pushing the button (figuratively speaking)

[guoyu78]

As far as I know day trading ends up bad and ugly for many traders. Although it could be very profitable it's also very risky and many don't manage to make profit and often struggle with loss. It brings a lot of pressure and not everyone can hold that. But it's good to try and see where your limits are.

Thats for traders who do not have the skills, knowledge and experience, of course many of them might end up in losses. but for a professional trader, of course, the possibility of profits will be much greater, and your job is to continue to practice to be more professional, so the chances of your winnings will continue to grow. trading will be good or bad, depending on your skills

There are so many pro traders too that are losing their trade every day, and what usually affect them is the mentality that they have, which is the believe that the market has the potential to grow high within a day which affects their decision to take little profit when they get one, believing they can still push further to take more profit but they end up taking zero when the market suddenly dump back before they get to reach their target.

This description is just called greed, and this is exactly what makes people lose their trade daily, like yesterday, despite the fact I knew the market has the potential of climbing up to $10k in few days, I still sold my coin at $967, if I keep waiting for that $10k, what if it start declining from that $9670, then I have lost out.

[Lawrenzoo]

Am not really new in crpyto world but am always scared of taking the risk of trading.  As an experienced trader what are the advantages and disadvantages of day trading. Please I need your opinion. I really want to know those risk so as to avoid them. Then the possible way to maximize profit.

Just hold since you are scared of taking risk

[jrrsparkles]

More profitable and more risky is the simpler definition of day trading so losses cannot be restricted here but you can make profits to cover up the losses in no time.

Learn to accept what you make when you want to be a trader or don't do trading.

[D3m1r4wanti]

Daily, good, bad, or ugly trading.
it all depends on the ability and knowledge of the merchant itself.
traders who have the ability to trade daily, daily trading will be a profitable trade.

[Uao]

I will break this into 2 sections:

#1

Am not really new in crpyto world but am always scared of taking the risk of trading.

The question you might want to ask yourself here is "Why am I always scared of 'risk'?". Only you can go deeper into your mind and find your fears & beliefs.

A few tips:

- trade smaller position sizes (scale down)
- trade to get experience in the market and become a consistent winner, profits will follow (don't focus on money)
- don't take your personal life into your trades (had a fight with your loved one? it's a no trade day today)
- learn about what risk is and embrace good setups (with nice Risk-to-Reward)
- don't margin trade and use stops
- keep a personal trade journal (not easy!)


#2

As an experienced trader what are the advantages and disadvantages of day trading. Please I need your opinion. I really want to know those risk so as to avoid them. Then the possible way to maximize profit.

This is closely related to the first section but it's because you don't understand what risk is at a fundamental level.

Maximizing profits should not be your priority at this point. Leaving profits on the table as they call it is one of the last and most difficult things to overcome even for pro traders.

Let me put it this way: trading, day trading and especially scalping and being consistently profitable is one of the most difficult quests you could undertake. Period. There is no glam involved really. It's all just hard work, daily study for the rest of your career, passive setup monitoring, waking up in the middle of the night when alarms start (especially for day traders/scalpers), on-the-fly TA, analysis and more analysis. Back-testing, head-scratching, eye strain, back strain, balance issues with family and loved ones and more.

These are the struggles or professional traders that work for themselves in their homes, wearing shorts and a t-shirt at 2AM in the morning or whenever the market makes some edges possible for you.

Having said that, I strongly believe trading is one of the best careers one could have. Financial freedom, no boss, you're able to work whenever wherever and surprise your loved ones using your profits. If you like responsibility, trading is definitely for you. You are the only one responsible for your trading and your thoughts, emotions and actions. It's a huge relief to know deep down that you will always be able to adapt to any market conditions and make constant profits. Even after taking a vacation -- it's like riding a bike -- the skill will forever shadow you.

All that ^^ but ONLY for a small percentage of people. For the rest it's a continuous struggle and a gamble really. Why? Very few really want to become traders. Most just want the profits, signals, someone else constantly doing their TA and telling them when and where to enter/exit a trade. No work, no reading, no real trading and technical analysis, no journal, nothing. Just Netflix & chill pretty much. Right? Nothing wrong with that as long as it is a conscious choice. Most would fall in the trap of kidding themselves into thinking they are "traders". Nope. I'm doing crunches in my mind while watching KPOP videos all the time and I don't see any 12-pack yet. Why?

I'm leaving you with a few more tips:

- read (or listen to the free audiobook on YT) Trading in the zone by Mark Douglas (you will know if trading is for you pretty much)
- learn how to do your own TA and don't be scared of being wrong
- if you don't have food on the table, don't trade -- you're not in the appropriate environment to play your 'A' game (the best traders don't give a flying F about the money and neither should you)
- don't 100x on Bitmex, the math is against you (duckduckgo this for more info)
- always be inquisitive about everything related to trading, stay curious and remember learning is not something you finish in school (if you believe this then you're stuck in life)
- follow others on Twitter/YT to learn how they think, not how to trade (search for Philakone, his material is helpful if you're ok with his personality)
- homework: answer this question for yourself "What moves the market (price)?" (when you get it you will acquire a bigger picture)
- if you don't understand and always know your risk going into a trade, you can't be a consistent winner -- risk is probably the most important thing in trading alongside mindset/psychology
- life and loved ones always come before trading or anything else for that matter (stay healthy)


Good luck in your endeavors, hope you make it!

[MiF]

All of us have good days and bad days, and for day trading it turns out ugly when you don't have lucky days with your holdings. Sometimes you need to understand the environment of trading, that's somewhat risky while you bought your coins at higher price. You can't expect it to grow suddenly and you'll have to wait for several days to expect greater results for the price to increase and take your profit gains.

[bitgolden]

You really want to maximize profits without taking risks?

Well one advantage I can think of now is that you can make more money day trading than weekly, monthly or long term trading.  And the disadvantage is that trading requires some level of skill and it takes time

Trading also requires lots of patience, and you said it already here that trading takes time, I don’t think what takes time and requires patience will really be good for day trading, when you day trade, you have more tension than those that take time to study market very well before trading which could be weekly or monthly.

Any trade that has tension in it must surely fail, because tension pushes the trader into making the right decision, and would not allow such trader to be able to take time and monitor the trade before applying whatever the analysis will suggest for him or her. With a week interval trade, there enough time to make analysis and digest it for us to apply to our trade.

[sana54210]

Am not really new in crpyto world but am always scared of taking the risk of trading.  As an experienced trader what are the advantages and disadvantages of day trading. Please I need your opinion. I really want to know those risk so as to avoid them. Then the possible way to maximize profit.

Just hold since you are scared of taking risk

Holding is quite good too because everything still amounts to profit, no matter the method we choose, provided we are investing in the right project, both day trader and long term holders will always have their benefits, but I would not encourage the op to continue to become scared, the best way to solve a problem is to face the problem and just sort it out once and for all, if the op continue to get scared of risk, he will end up not gaining anything from this crypto market.

For trading risk, the best way to overcome it completely is to first of all have the right trading knowledge, do lots of practice that doesn’t involve money and they ensure to always apply trade tools like stop loss and co.

[syamster]

Am not really new in crpyto world but am always scared of taking the risk of trading.  As an experienced trader what are the advantages and disadvantages of day trading. Please I need your opinion. I really want to know those risk so as to avoid them. Then the possible way to maximize profit.

Just hold since you are scared of taking risk

Holding is quite good too because everything still amounts to profit, no matter the method we choose, provided we are investing in the right project, both day trader and long term holders will always have their benefits, but I would not encourage the op to continue to become scared, the best way to solve a problem is to face the problem and just sort it out once and for all, if the op continue to get scared of risk, he will end up not gaining anything from this crypto market.

For trading risk, the best way to overcome it completely is to first of all have the right trading knowledge, do lots of practice that doesn’t involve money and they ensure to always apply trade tools like stop loss and co.

Agree with you, trading is profitable even if you are trading for the day or for long term but the only thing that matters is perfect time to get in and to trade, when you think about trading at day you will have to gain knowledge as much as you can, trading depends on our knowledge and way of planning, keeping eyes on the market is important, be brave to face market changes, don’t be emotional.

[Nellayar]

Daily trading is very risky if you are not very familiar with it, this type of trading are being use by professionals traders. The big advantage of daily trading is that you can easily multiply your investment if you are doing it right.

You don't need to wait for few weeks, months and years to obtain your profit. That is the big advantage of daily trading but it's disadvantage is it's opposite, you can also loss your investment in a short period of time if you are doing it wrong. So it's better that you will study it first before engaging to this kind of trading.

Totally correct! Day trading is really a risky thing but a profitable one. Most of the day traders are already veteran in this field. They can sort out different indicators and signals. Also, they have plenty well-known whale traders also. Day trading requires an efficient plan, it should be worked with you because if it fails, you will lose your capital. I prefer tk hold coins than to risk it in my day trade. I am not yet a pro trader.

[idham29]

All of us have good days and bad days, and for day trading it turns out ugly when you don't have lucky days with your holdings. Sometimes you need to understand the environment of trading, that's somewhat risky while you bought your coins at higher price. You can't expect it to grow suddenly and you'll have to wait for several days to expect greater results for the price to increase and take your profit gains.

The philosophy that you express is true, because luck does not come every day. Being aware of such risks makes daily trading more careful and always takes policy based on logic. Not only emotional.
For me, those who were initially unemployed and took part in bitcoin trading every day, made this a profession and had to enjoy various conditions that occurred in the crypto market, there was time to profit but at other times it could be lost. That cycle must occur in trade.

[Bunsomjelican]

Am not really new in crpyto world but am always scared of taking the risk of trading.  As an experienced trader what are the advantages and disadvantages of day trading. Please I need your opinion. I really want to know those risk so as to avoid them. Then the possible way to maximize profit.

If you are always scared of taking risk of trading it is because you don't want to waste your capital investment into nothing. And I think that's a normal feelings for being a trader. But of course, the true behavior of individual trader is that He/She is prepared and willing to take risk when investing or buying coins in the exchange.