Day Trading for a Living?

[Febo]

Is day trading for a living your dream job? Get another one – study says 97% of day traders lose money.

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3423101


Only 0.4% earned more than a bank teller.


You can thank me latter.

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[Wilhelm]

It is true that most lose. An exchange told me it was more like 89%. But then again winning some and making a living is a big difference...
The thing is that it is a probability game that goes against your gut instinct.
Want to make money sell TA  

[LimLims]

Is day trading for a living your dream job? Get another one – study says 97% of day traders lose money.

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3423101


Only 0.4% earned more than a bank teller.


You can thank me latter.

Yeah agree with you.
Many of the traders make losses when they think to earn more with less fraction of time.
And those who are making huge money with it, they already have a huge amount of bankroll.
For them losses will be very small and they can easily recover from it.
Nevertheless let's wish all the best for all thr traders.
May the fortune be with them.

[target]

You will have to monitor the charts every time for this but certainly doable since a lot claimed to be good at it.  You can make money out of it with leverage so with just a few cents of price dips and spikes, you can live and spend a hundred dollars a day without financial problems in the future. This has been done by few Forex traders who now lives in some other countries relying to their trading skills.

[romero121]

Day trading for a living is possible with users who holds good sum of funds in the wallet. Even if loss is experienced it should not affect his living. It is always a good choice to go into day trading once you've got the savings to meet all your lifetime needs. Very few get lucky to earn out of trading with very small investments. What we see in terms of percentage is based on statical data. When there is more than 90%?people experiencing loss how to choose it an option as an earning source for living.

[figmentofmyass]

Want to make money sell TA  

in a gold rush, sell shovels!

paid TA/signal groups are seriously a money printing machine. i considered running one 2 years ago but decided against it. it would just feel too grimy because even if you're on the up and up, most subscribers won't get nearly the value they are paying. and that's simply because most people aren't cut out for trading---both emotionally and in terms of analytical/probability skills.

[BitcoinHunt3r]

I never can do day trading. Because sometime i lose and only a few times get profit. Maybe i will trade like usually traders did. Like it is ok to hold until get profit although not aim daily profit. Actually to manage my mental is really hard. But will be harder if i aim and make target daily and push it. Maybe it is right when people said that each person have their own strategy in trading.

[pooya87]

just because some research says a big percentage of those who are doing day trading are losing money it doesn't mean it is like that if you start doing it! basically if anybody starts trading in any form correctly without greed and being over emotional, the results will be positive for them. the problem is that most people doing day-trading are not "trading" they are instead "gambling" and the result for gamblers is never good no matter what they do. that is something these studies never look into.

[Wilhelm]

just because some research says a big percentage of those who are doing day trading are losing money it doesn't mean it is like that if you start doing it! basically if anybody starts trading in any form correctly without greed and being over emotional, the results will be positive for them. the problem is that most people doing day-trading are not "trading" they are instead "gambling" and the result for gamblers is never good no matter what they do. that is something these studies never look into.

That’s the problem..... greed is why they want to do day trading.....  trading on weekly charts is better for most...

[Ararbermas]

They thought that day trading is like an easy work . Such playing games and etc, but afterwards they become crazy because of being lack of knowledge and information.. That's why the percentage is very low when it come day trading .  Because only knowledgeable ppl can make much money on it. Greedy ppl always cant succeed on this kind of manner how to gain quick profits.

[LUCKMCFLY]

Is day trading for a living your dream job? Get another one – study says 97% of day traders lose money.

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3423101


Only 0.4% earned more than a bank teller.


You can thank me latter.

Well, you may rarely find this, but to make a living that way you can, as long as you have enough knowledge in the operations, I have usually learned that with a lot of money in trading you do little and with little money you don't know make. Really to say that trading can be lived yes, but I think the secret is to see it as a business. Thinking that you can get us out of a situation quickly is difficult, unless the correct operations are done at the right time, and perhaps with good luck, although it is better to make the gains by understanding how it was earned.

[exstasie]

Newbies see monitor setups like this and think that's all it takes, then they get chewed up and spit out:

That’s the problem..... greed is why they want to do day trading.....  trading on weekly charts is better for most...

So by "day traders" they mean intraday, like trading the minute charts? On the stock market, no less?  I say, leave that to the HFT algorithms, market makers, etc.

I'm a swing trader through and through. Although there's one circumstance where I like to trade intraday. When BTC is in a bubble, you can rebuy longs when the 1-min chart is oversold, all day long. Every once in a while you'll get washed out in a flash crash but it's easy money. Can't wait for the next season.

[pieppiep]

Day trading needs a big effort to choose the right coin because we need to analyze in every day, and we need to search one by one of the coins so we can find the right coins. It will be difficult if we don't have the skills to analyze each coin, and that will need more time to get the coins. I don't think it is easy to find the coin because with so many coins at 1 exchange will need at least more than 1 hour to detect which coin that can increase.

But if you have skills to find the coins, I think you can do it without any problem because your feeling will help you find the coin. Besides that, day trading needs more experience in the trading itself. You can get the experience by trading in the exchanges no matter if you are doing day trading or weekly trading. As always, you need to prepare your money so you can buy the coin directly in the market.

But yes, many traders are losing their money in day trading because they expect to make a big profit from many coins which is not always work in every day. So if you want to day trading, make sure you have good skills, enough money, and time to find the coins.

[stfN2128]

Is day trading for a living your dream job? Get another one – study says 97% of day traders lose money.

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3423101


Only 0.4% earned more than a bank teller.


You can thank me latter.

It's not a secret that most of the traders lose money but it's also not sooo complicated to make money out of trading if you know what you are doing, have an entry and exit strategy and a good money management.
And the most important thing is learning from your mistakes, i have started trading almost 5 years ago.... i made a lot of money with luck, tbh i was doing random shit. made trades cause of news. Then i lose it all again and more... thats the live of a new trader i guess...it took a long time to make consistent profit out of trading, my last top up was almost one year ago and this account is still alive and in profit.

Don't give up to early and learn consistent. It's possible to make money, you just need time and dont be greedy. If you want to get rich quick, stay away from trading. You will end up in losing all.

[Wilhelm]

Newbies see monitor setups like this and think that's all it takes, then they get chewed up and spit out:

That’s the problem..... greed is why they want to do day trading.....  trading on weekly charts is better for most...

So by "day traders" they mean intraday, like trading the minute charts? On the stock market, no less?  I say, leave that to the HFT algorithms, market makers, etc.

I'm a swing trader through and through. Although there's one circumstance where I like to trade intraday. When BTC is in a bubble, you can rebuy longs when the 1-min chart is oversold, all day long. Every once in a while you'll get washed out in a flash crash but it's easy money. Can't wait for the next season.

IMO day trading is if you open and close positions within a day, so yes mostly intraday.
However you are correct that day trading can also mean that you are busy with trading on a daily basis.
So let's not debate this, both could be right ....

Anyway what I meant is that for most, the lower timeframes are non-profitable unless you have strict methods and an exchange with low transaction fees...

[gentlemand]

It constantly blows my mind the amount of no mark know nothings who declare they're about to embark on a successful trading career. Even more incredibly many of them seem to believe gambling is a reliable sideline just in case they get bored of losing all their money trading.

Err, fuck 'em.

[Jating]

Yeah, that's the reality, so I don't know what happened to those people here specially during the boom of 2017 to just say that they are going to quit because they are going to focus on trading as a living. I mean how can you support your family and bring food in the table if the market is very volatile.

This should be an eye opener for those who wanted to earn big bucks in day trading. It's going to be difficult and it takes years to be successful at least because of the unpredictability of the market.

[Wilhelm]

It constantly blows my mind the amount of no mark know nothings who declare they're about to embark on a successful trading career. Even more incredibly many of them seem to believe gambling is a reliable sideline just in case they get bored of losing all their money trading.

Err, fuck 'em.

The more they put in to the system the higher we go!!!
Fuck 'em indeed 

[Reid]

Well then, thank you.

It is a difficult task and that is why I agree with.
Some newbies think that it is really profitable but it aint. You will lose a lot before you could even make a little profit.

Large capitals is needed for this or else you will get broke in an instant.
It is not that I am discouraging them but just telling the truth from experience.

[TIDOVEE]

Is day trading for a living your dream job? Get another one – study says 97% of day traders lose money.

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3423101


Only 0.4% earned more than a bank teller.


You can thank me latter.

Good observation. Thank you

I don't disbelieve it, if you will make good profit on daily trading many of us know that it is easier when the market value rises more consistently than falling. It requires keen study on the market scale. During the 2017 bull run. Within June & December, making gain was easier.this is how those operating the Ponzi scheme  get frustrated.