Day trading! The good the bad and the ugly

[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.

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[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.