Day Trading for a Living?

[Wexlike]

Trading and bounty hunting both are same.

These both are really waste of time to invest the fund and we people should not waste our time in day trading. Partially we can invest in trading and learn something. If the luck is in your side, it will be helpful for you.
Else you need to look for other option.

You can't compare trading to bounty hunting. Trading is a game with other players on the market, and bounty hunting is performing tasks for a reward.

I tried day trading many times and unfortunately without good results. Of course, I managed to earn many times, but unfortunately they were not the amounts that would allow me to make a living from it.
I think there are too many bots on the market and unfortunately with them is impossible to won. I think it is more real but still very difficult to look for a chance for arbitration.

At the end of the day, personally I like how things are going right now. We are in the middle of a "healthy" pullback from the micro blow off top we had last October. We'll either find support at around 8.5k (the .5 fib retracement level) and bounce, or we won't and we'll pull down further. In which case, I'll consider putting a long term long with 3x leverage on Bybit. The RSI isn't oversold enough for me to consider doing this yet, but if it does reach that levels then I'll accept a long getting eaten up by funding fees for a bit.

And now that we had this wonderful pump, we can enjoy the start of the week together.

[1714987968]

1714987968

[1714987968]

1714987968

[Lecam]

Trading and bounty hunting both are same.

These both are really waste of time to invest the fund and we people should not waste our time in day trading. Partially we can invest in trading and learn something. If the luck is in your side, it will be helpful for you.
Else you need to look for other option.

Bounty hunting is different in day trading they are not the same because bounty hunting is you can go and join signature campaign. Day trading can make a good profit once you know the strategy in trading you can earn money everyday. In bounty is join to campaign and wait for your salary when they give it to you. So its not the same bounty and trading are different.

[BartS]

You need to have relatively large amount of cryptocurrencies to be able to live from trading. If you have $1000 or less, it will be difficult to get enough profit. Even if you spend half of it ($500) on some trade and the coin goes up by 5% which is not bad, you would make only $25 profit.
Better option is leveraged trading (for example on BitMEX). It means that you look for smaller swings in price and your profit multiplies with leverage multiplier. So if you choose 10x leverage, wait for only 1% raise and you will get 10% profit on your stake. It involves more risk though. You can also lose your entire balance if you position gets liquidated.

I really believe that is what small traders are doing already, they realize they will never get the profits they want even with the huge swings of this market and they are using leverage to increase their profits, what they do not seem to realize is that no strategy is perfect and you cannot win all the time.

You are going to suffer losses from time to time and if you cannot endure it then the chances that you lose your capital are 100%, and yet this simple observation seems to be beyond the comprehension of most new traders.

[karanggatak]

I don't do daily trading because I think it's very risky and we also need to focus on seeing the development of the crypto market every day. and I don't have much time for that. because I have a real job that requires a lot of time so I prefer to make long-term investments rather than daily trading. and in my opinion, daily trading also cannot be considered a main income because the market is very volatile.

[akmal1984]

I think crypto trading is safer now than a year ago. This could be an alternative to replacing trading using fiat currency. Because prices are more stable in the market. So there is an opportunity to get profit even with a small amount. Try to look at the price of doge for example, from day to day tends to be stable. So why not try it by trading doge / btc or doge / usd ...

[Clement Kaliyar]

You need to have relatively large amount of cryptocurrencies to be able to live from trading. If you have $1000 or less, it will be difficult to get enough profit. Even if you spend half of it ($500) on some trade and the coin goes up by 5% which is not bad, you would make only $25 profit.
Better option is leveraged trading (for example on BitMEX). It means that you look for smaller swings in price and your profit multiplies with leverage multiplier. So if you choose 10x leverage, wait for only 1% raise and you will get 10% profit on your stake. It involves more risk though. You can also lose your entire balance if you position gets liquidated.

If you have a relatively huge amount of money then you know very well that trading cannot be considered as a way of living but an investment with a regular job or a business, you cannot make any profit if the sole profit is to make profit on a small window of time, leverage trading is one of the riskiest form of trading and if someone is seeking it as a source of income then they are bound to end up in trouble.

[NewRanger]

I think crypto trading is safer now than a year ago. This could be an alternative to replacing trading using fiat currency. Because prices are more stable in the market. So there is an opportunity to get profit even with a small amount. Try to look at the price of doge for example, from day to day tends to be stable. So why not try it by trading doge / btc or doge / usd ...

it has less risky if compared with another trading Investment.but to do that we have to analize chart carefully so our trade have good result.in this year price manipulation decrease alot than on 2017 when all cryptocurrency price rise extremely,but unfortunately in this moment many people trapped in peak price.for day trading there are many coins that have good volatility in 2 or 3 days,this is good opportunity to take.maybe we could earn around 5% from this movement.

[Triffin]

Trading and bounty hunting both are same.

These both are really waste of time to invest the fund and we people should not waste our time in day trading. Partially we can invest in trading and learn something. If the luck is in your side, it will be helpful for you.
Else you need to look for other option.

Bounty hunting is different in day trading they are not the same because bounty hunting is you can go and join signature campaign. Day trading can make a good profit once you know the strategy in trading you can earn money everyday. In bounty is join to campaign and wait for your salary when they give it to you. So its not the same bounty and trading are different.

Bounty campaigns as the word campaigns indicates are some marketing plans or similar things that usually offer you some good money in order to work with them whereas on the other hand, trading is where you work for yourself. There is no one paying you on monthly or weekly basis for doing trading. You make profits simply by applying strategies that you have learned and keeping an eagle eye on coins.

[Barbut]

Trading and bounty hunting both are same.

These both are really waste of time to invest the fund and we people should not waste our time in day trading. Partially we can invest in trading and learn something. If the luck is in your side, it will be helpful for you.
Else you need to look for other option.

Bounty hunting is different in day trading they are not the same because bounty hunting is you can go and join signature campaign. Day trading can make a good profit once you know the strategy in trading you can earn money everyday. In bounty is join to campaign and wait for your salary when they give it to you. So its not the same bounty and trading are different.

Bounty campaigns as the word campaigns indicates are some marketing plans or similar things that usually offer you some good money in order to work with them whereas on the other hand, trading is where you work for yourself. There is no one paying you on monthly or weekly basis for doing trading. You make profits simply by applying strategies that you have learned and keeping an eagle eye on coins.

What a conversation! Do you people even know what you wrote here? You are high ranked members on this forum, but still, none of you knows the basic things about day trading and bounty campaigns. You should really spend some time learning before you start posting this crap! Honestly!
I wonder did you try daily trading, did you try to trade at all!?

[adaseb]

The reason why most people can't trade for a living is because they have lack of capital. Sure you can start with $1000 and turn it into $2000 but how many people do you know that do this successfully in the long run? Probably no one.

This is why most people need to have a large 6 figure account so they can trade various industries and each trade is only a small portion of their account. So they can have a large position like $10000 in size and if they only make like 2% it adds up to $200. If you traded with a $1000 account you would only make $20 and most of that would go to the broker as trading fees.

So it's not only experience that is needed to be successful but a large capital also.

[BartS]

The reason why most people can't trade for a living is because they have lack of capital. Sure you can start with $1000 and turn it into $2000 but how many people do you know that do this successfully in the long run? Probably no one.

This is why most people need to have a large 6 figure account so they can trade various industries and each trade is only a small portion of their account. So they can have a large position like $10000 in size and if they only make like 2% it adds up to $200. If you traded with a $1000 account you would only make $20 and most of that would go to the broker as trading fees.

So it's not only experience that is needed to be successful but a large capital also.

A decent amount of money is necessary especially since the days when you could invest a few dollars in a coin and then become rich are definitely over, but you do not need a fortune either.

What you need to do to eventually live out of your trading activities is to trade and to have a job at the same time, that way any profits you get in the markets remain in your trading account to the point that it will grow and you will earn more in the markets than in your job and when that happens you can begin to live out from your trading activities.

[kapalmabur]

The reason why most people can't trade for a living is because they have lack of capital. Sure you can start with $1000 and turn it into $2000 but how many people do you know that do this successfully in the long run? Probably no one.

This is why most people need to have a large 6 figure account so they can trade various industries and each trade is only a small portion of their account. So they can have a large position like $10000 in size and if they only make like 2% it adds up to $200. If you traded with a $1000 account you would only make $20 and most of that would go to the broker as trading fees.

So it's not only experience that is needed to be successful but a large capital also.

A decent amount of money is necessary especially since the days when you could invest a few dollars in a coin and then become rich are definitely over, but you do not need a fortune either.

What you need to do to eventually live out of your trading activities is to trade and to have a job at the same time, that way any profits you get in the markets remain in your trading account to the point that it will grow and you will earn more in the markets than in your job and when that happens you can begin to live out from your trading activities.

the big problem is capital, indeed, if you only trade with 50-100 $ maybe income can be $ 1 per day, I don't think it's bad,
you have to collect as much money as possible to trade, the more capital you earn, the more income you will get,
it is not wrong to make daily trading a job that is a profession now

[Sahyadri]

Losing a trade by ending up in a stop loss is still not bad a deal. That loss can be compensated through just one big winning trade. Usually the risk reward ratio is 1:4. So by winning more than 20% of your trade can be rewarding. So a day trade can become successful as daily earning pretty easily if you can trade wisely and strictly follow your risk reward ratio. Dont think much about the overall trade win-loss ratio. That doesnt really matter.

[akmal1984]

it has less risky if compared with another trading Investment.but to do that we have to analize chart carefully so our trade have good result.in this year price manipulation decrease alot than on 2017 when all cryptocurrency price rise extremely,but unfortunately in this moment many people trapped in peak price.for day trading there are many coins that have good volatility in 2 or 3 days,this is good opportunity to take.maybe we could earn around 5% from this movement.

That is very correct. Every person wanting to trade crypto must also keep abreast of the latest developments and news from the coins that we wish to trade. I get this new experience. Where do I buy doge at the price of 31 ... it takes 3 days for the transaction to take place. And now the price of the doge is actually going down a little. Maybe I need to find a market that has a greater daily transaction volume. Because for this daily trading it is clearly detrimental to me

[dodgrad]

Trading and bounty hunting both are same.

These both are really waste of time to invest the fund and we people should not waste our time in day trading. Partially we can invest in trading and learn something. If the luck is in your side, it will be helpful for you.
Else you need to look for other option.

You can't compare trading to bounty hunting. Trading is a game with other players on the market, and bounty hunting is performing tasks for a reward.

I tried day trading many times and unfortunately without good results. Of course, I managed to earn many times, but unfortunately they were not the amounts that would allow me to make a living from it.
I think there are too many bots on the market and unfortunately with them is impossible to won. I think it is more real but still very difficult to look for a chance for arbitration.

At the end of the day, personally I like how things are going right now. We are in the middle of a "healthy" pullback from the micro blow off top we had last October. We'll either find support at around 8.5k (the .5 fib retracement level) and bounce, or we won't and we'll pull down further. In which case, I'll consider putting a long term long with 3x leverage on Bybit. The RSI isn't oversold enough for me to consider doing this yet, but if it does reach that levels then I'll accept a long getting eaten up by funding fees for a bit.

And now that we had this wonderful pump, we can enjoy the start of the week together.

It looks like your prediction didn't come true. This is another example that trying to predict sentiments on such a high risk market as cryptocurrencies is closer to lottery than to common sense. I like the comparison that the effectiveness of predicting the price of BTC or other cryptocurrencies is similar to dice game or hi/low . But unfortunately this is about money, so it is not so funny when we are not lucky.

[BartS]

The reason why most people can't trade for a living is because they have lack of capital. Sure you can start with $1000 and turn it into $2000 but how many people do you know that do this successfully in the long run? Probably no one.

This is why most people need to have a large 6 figure account so they can trade various industries and each trade is only a small portion of their account. So they can have a large position like $10000 in size and if they only make like 2% it adds up to $200. If you traded with a $1000 account you would only make $20 and most of that would go to the broker as trading fees.

So it's not only experience that is needed to be successful but a large capital also.

A decent amount of money is necessary especially since the days when you could invest a few dollars in a coin and then become rich are definitely over, but you do not need a fortune either.

What you need to do to eventually live out of your trading activities is to trade and to have a job at the same time, that way any profits you get in the markets remain in your trading account to the point that it will grow and you will earn more in the markets than in your job and when that happens you can begin to live out from your trading activities.

the big problem is capital, indeed, if you only trade with 50-100 $ maybe income can be $ 1 per day, I don't think it's bad,
you have to collect as much money as possible to trade, the more capital you earn, the more income you will get,
it is not wrong to make daily trading a job that is a profession now

This is not only important when you trade this is important when you invest as well, at the beginning of your journey it is going to be very difficult to get the money that you need in order to become an investor or trader.

You will need to make a lot of sacrifices but if you care about your future then you need to make those sacrifices, and the sooner you begin the faster you will see the results so there is no point in trying to save until the market conditions improve because you never know when that will happen.

[vintages]

No matter what anybody may say, i still think that day trading shouldn't be regarded as a living or main source of income. It is simply because shits happen and its more like you are gambling with your money. Why some people are lucky to do this as a source of income and succeed, it might not work for other. It takes training and years of experience to reach to that level where it can be regard as a living and this experiences involve losing lots of money in it. If you have nothing sustaining you during that time, soon enough, you will be on the street.

[piebeyb]

No matter what anybody may say, i still think that day trading shouldn't be regarded as a living or main source of income. It is simply because shits happen and its more like you are gambling with your money. Why some people are lucky to do this as a source of income and succeed, it might not work for other. It takes training and years of experience to reach to that level where it can be regard as a living and this experiences involve losing lots of money in it. If you have nothing sustaining you during that time, soon enough, you will be on the street.

lol, what you say is similar to mine, I learned how to trade it took up to 5 years and all the trading techniques that were obtained require losing money and made my experience into trading techniques, even though I have gained a lot of trading knowledge it certainly isn't that cheap I share my trading knowledge with others, because of the learning that not a little money I lost to get profits in trading on the market until now, the point is never to make trading as your financial income every day because it does not look good

[bhabygrim]

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.

Yes I used to have that dream but I realize that it is so risky and one mistake could end it all.
I don't think that those people could really pull it off just think about it how much would day earn daily from their trades and the cost of their living expenses (bills,foods and also their transportation cost) ,
If they would only earn through day trading their capital would be eaten by their expenses alone and soon enough they wouldn't have anything to trade.

[andycarrol]

doing daily trading for a living is the most ridiculous thing
I have already said that daily trading is gambling, managing emotions in daily trading are the most difficult thing
I have never seen daily trading that routinely generates profits every day
better to be weekly or monthly trader.

there's a point, because I've tried it myself, even gambling is easier to get a daily profit, because some games are predictable.
and it's really hard to get daily profits from trading for this year. unlike under 2017, market conditions are still very good. for now, I can at least benefit from trading can be 1 week - 1 month, even that only get 10-20%.
bitcoin domination will be increasingly difficult to make us get profit from daily trading.