Day Trading for a Living?

[Triffin]

Looking at the market now it is quite difficult to take advantage of daily trading, because altcoin does not seem to show the direction it will take now, maybe if the price of bitcoin has stabilized at the highest price then altcoin will pump up, but maybe it happened in 2020, this is only a prediction so it will not always be right, however the market will determine its fate

Day trading at the present time is very risky there are a lot of people who lost their money in day trading as the market in this time is not showing any upward direction, only experienced traders are successful in these days as a day traders, now a days long term holding would be perfect decision, and when the market go on pump then day trading is the best way for living because at that time everyone could make money from day trading.

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[hatshepsut93]

The fact that the percentage of losers is so high makes me think that day trading is kinda rigged - those who have deep pockets can influence the price on small scale and profit off it, while the rest simply trade to give money to these manipulators. If day trading was random, the win/lose ratio would be closer to 50/50.

[FlamingFingers]

I seldom see people that trades saying they trade for a living.

The bearish market makes lots of day trader to get rekt that's why most people are longer day trading for  living,  even lots of twitter dudes who give calls on trading signal are no more giving out calls, till the market recovers before lots of people will consider day trading for a living

[bassbity]

Looking at the market now it is quite difficult to take advantage of daily trading, because altcoin does not seem to show the direction it will take now, maybe if the price of bitcoin has stabilized at the highest price then altcoin will pump up, but maybe it happened in 2020, this is only a prediction so it will not always be right, however the market will determine its fate

Day trading at the present time is very risky there are a lot of people who lost their money in day trading as the market in this time is not showing any upward direction, only experienced traders are successful in these days as a day traders, now a days long term holding would be perfect decision, and when the market go on pump then day trading is the best way for living because at that time everyone could make money from day trading.

Current market conditions cannot be predicted today, the market is green, it may be red tomorrow, trading day will indeed make us lose if we do not know which coins will remain up, but many suggest it is better to buy bitcoin from now and do long-term trading, and it has become a trend when market conditions like this.

[teosanru]

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.

Actually it's very very hard. Actually trading is a game which consists of snatching money from the small uneducated traders to smart intelligent traders. This snatching is absolutely legal. But the thing is it's hard most of the people don't know how to do it and those who know would never tell. It requires consistent practice and hardwork. Moreover it's true that only 1% make a fortune but that 1% draw the capital of those 99% of traders so you can just imagine how much money they make. People can make fortune out of it but it requires patience and time.

[carlfebz2]

Looking at the market now it is quite difficult to take advantage of daily trading, because altcoin does not seem to show the direction it will take now, maybe if the price of bitcoin has stabilized at the highest price then altcoin will pump up, but maybe it happened in 2020, this is only a prediction so it will not always be right, however the market will determine its fate

Day trading at the present time is very risky there are a lot of people who lost their money in day trading as the market in this time is not showing any upward direction, only experienced traders are successful in these days as a day traders, now a days long term holding would be perfect decision, and when the market go on pump then day trading is the best way for living because at that time everyone could make money from day trading.

Current market conditions cannot be predicted today, the market is green, it may be red tomorrow, trading day will indeed make us lose if we do not know which coins will remain up, but many suggest it is better to buy bitcoin from now and do long-term trading, and it has become a trend when market conditions like this.

For long term aspects then this would be the best choice but for a trader that does depend its living on trading profits then he would definitely need to be profitable on shorter trades.Making a living with trading is really the hardest part and as said you cant really make constant profits on daily basis thats why you should know how to handle up your funds that could able to sustain no matter what would be the situation you would face off when it comes to finances.For now ive been still practicing myself to be sustainable on trading world because i can really see the advantage if you do already got this kind of skills.

[Darooghe]

Don't daytrade cryptocurrencies and don't listen to advisers who manipulate you into day-trading as well, they tend to act as oracles and then use that asynchronous info to manipulate the markets. There are whales and traders with asynchronous advantages over you so you are at a disadvantage and will likely lose money day trading.

Day traders find that they become obsessed with checking the price and end up spending most of their productive time looking at charts instead of working for a salary. Also you will be exposed to a lot of capital gains taxes and complexity vs just buying and holding for long term investment. Every single time you make a trade between each asset is a taxable event and tracked and reported on an exchange. Day trading also forces you to store your BTC on exchanges which is very dangerous.

[Ayiranorea]

The fact that the percentage of losers is so high makes me think that day trading is kinda rigged - those who have deep pockets can influence the price on small scale and profit off it, while the rest simply trade to give money to these manipulators. If day trading was random, the win/lose ratio would be closer to 50/50.

Well said, day trading is perfectly good for large volume investors. As the market is manipulative, those with large volume of funds will fluctuate the market and profit out of the same. Day trading for a living is completely a hard thing, but if we have patience we can profit out of trading based on the investment.

[Kambal2000]

The fact that the percentage of losers is so high makes me think that day trading is kinda rigged - those who have deep pockets can influence the price on small scale and profit off it, while the rest simply trade to give money to these manipulators. If day trading was random, the win/lose ratio would be closer to 50/50.

Well said, day trading is perfectly good for large volume investors. As the market is manipulative, those with large volume of funds will fluctuate the market and profit out of the same. Day trading for a living is completely a hard thing, but if we have patience we can profit out of trading based on the investment.

Day trading is good, but we should not just rely on it as we have said market is manipulative as it is not regulated. Anytime, we can be rekt so let us not just stick to one coin/token, we should not do day trading as our only source of income too, it should be just our alternative way to earn.aq

[Genemind]

I have never thought of having day trading as my source of living. It could be good as a part-time job but we can't rely our necessities on it. There's no guarantee that we could gain stable earnings especially when we only have a small capital to pursue it. Also, it requires skill and strategy so a person who wants to do day trading must be eager to learn everything about it first.

[syaripudin]

for now it is difficult to get a quick profit in day trading because market conditions are still often down and some altcoins are still unable to experience drastic increases, it is because bitcoin price movements have not risen sharply. and I think long-term trading is still an effective way to get big profits, most importantly don't rush to sell it and have to have a profit target to be gained

[syamster]

for now it is difficult to get a quick profit in day trading because market conditions are still often down and some altcoins are still unable to experience drastic increases, it is because bitcoin price movements have not risen sharply. and I think long-term trading is still an effective way to get big profits, most importantly don't rush to sell it and have to have a profit target to be gained

yes you are right in these days day trading is little bit difficult because of the market conditions as the market in these days are not in a condition to increase or show fluctuations daily that's why many people are not able to get profit from day trading, so day trading for living is not a good idea in these days i think long term investment is good.

[Bezobraznike]

for now it is difficult to get a quick profit in day trading because market conditions are still often down and some altcoins are still unable to experience drastic increases, it is because bitcoin price movements have not risen sharply. and I think long-term trading is still an effective way to get big profits, most importantly don't rush to sell it and have to have a profit target to be gained

yes you are right in these days day trading is little bit difficult because of the market conditions as the market in these days are not in a condition to increase or show fluctuations daily that's why many people are not able to get profit from day trading, so day trading for living is not a good idea in these days i think long term investment is good.

    Short-term trading is the way for making profit, but you can't count on
drastic increases, it's greedy. With short-term trading you need to be focused
on making couple percents profit, not to wait some higher rise.
   There are good coins for day-trading. Bitcoin is one of them sure, we are
experiencing a drop, but soon price will recover. Now it's good time for mid and
long term strategy with Bitcoin.
   When I think about long-term holding it's good time for buying as long as price
is under 10000$.

[bohr]

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.

I will agreed that majority of the estimated 97% traders that loss their money are newbies and inexperienced trader I had seen forex traders of more than 30 years in trading having a sound knowledge in it, every dick and harry who are new in trading believes trading is a get rich scheme without any money management and mentoring thus get involved in it invariably losing all their portfolios at a go, trading encompasses deep knowledge in money management, emotional and psychological management to have an edge over the market.

While the majority of those that lost their money are without a doubt traders with no experience in this or in any other market there are also many traders that have years of experience and yet they lose everything as well, the markets are brutal one single mistake can be enough to wipe your capital and the longer you are in the market the bigger the chances this happens to you, and the only way to protect you against that outcome is to have strong money management skills.

[Pearls Before Swine]

It wouldn't be my first choice of a dream job, no.  From what little trading I've done in my life both in the crypto and stock markets, I find it way too stressful and I've never made money.  Being a day trader for a living would be like playing roulette for a living.  Too random and maddening.

But there are some people who can do it for whatever reason, who have the intestinal fortitude and talent to make money.  They are a rare breed, tho.

[wajik-tempe]

I think it depends on what they trade, on that paper they samples random people for 300 days in brazillian equity market. Maybe it will be different with cryptocurrency.
I saw many crypto traders had already become rich because the price movement from cryptocurrency is different from stocks, it more volatile and the profits would be so fast. Also the price movement of cryptocurrency market can be read and prediction by many fundamental factors such as from the news and events.

[bitzizzix]

I cannot imagine a trading day to make a living, because the market is difficult to predict and really needs to have expertise in analysis and sharp instincts to ensure that the selected coins will be profitable on that day.
I trade long-term or monthly, always checking market charts, let alone trading a day and 24 hours and many times to always control the charts in the market.

I pray that it will always be profitable for those who trade a day and for the sake of earning a living.

[Dewi Aries]

It wouldn't be my first choice of a dream job, no.  From what little trading I've done in my life both in the crypto and stock markets, I find it way too stressful and I've never made money.  Being a day trader for a living would be like playing roulette for a living.  Too random and maddening.

But there are some people who can do it for whatever reason, who have the intestinal fortitude and talent to make money.  They are a rare breed, tho.

Not all people can do day trading like professional. But a lot of people out there really think trading is easy thing, and then they leave their job to do trading. I think you are better than that people i mentioned. because when we can measure our abilities, we will not be careless in taking action. And for who want to leave their job to do day trading, maybe they not face how market is lack of volume, or stuck in a dumped coin for longer time more than they expected yet.

[error08]

Yes it can be, as long as someone has enough capital for daily trading and reserve funds for daily life at least for 6 months - 1 year as a backup. The most important thing is experience in the trading field for years, if someone does not have expertise in trading, then better it's to choose another source of income.

[Sadlife]

Yes it can be, as long as someone has enough capital for daily trading and reserve funds for daily life at least for 6 months - 1 year as a backup. The most important thing is experience in the trading field for years, if someone does not have expertise in trading, then better it's to choose another source of income.

you have mentioned the readiness to have 6 months of support or back up so i think thats more than enough if they can at least Hold for semi long term,ranked currencies fro 1 -30 usually recovers for a month of dumping so if they can make even 1-5% for month or so then thats enough earning if runs for 6 months right?and what if the bull comes before that half year duration?was not that a Jackpot?so its also depends on the market on how we will react and stand