Day Trading for a Living?

[J1mb0]

A big part of day trading is how much your commission fee is. If you can trade near commission free you will be able to profit easier.

If you're talking about transaction fees, it's very low. I usually trade at Binance and it only takes 0.1% for each transaction. If you have BNB coins then you can choose BNB to reduce 25% of transaction fee.

[1714596350]

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[1714596350]

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[bering]

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 don't really believe in data that says only 0.4% do actually make profit from day trading because there all around about people who are making good return on their day trading in crypto currency. But if you said such percent happen in playing gambling then I will some how believe your report and not day crypto currency trading.
What traders need to Know is the strategy that work for you and be ready to stake to your strategy.

Indeed the statistics probably not 100% correct and not representative as a whole traders but according to the people experience then lately it's very difficult to get profit from day trading and me too as a witness of my friend that he was give up to do day trading and lost almost all of his initial money

[Rufsilf]

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 do believe that. It is still better to put up a business and bet your money there than investing in stocks or crypto when you don't have a lot of money to back you up when you lose it.  But I guess people like me just want to to take a shot in crypto and be an instant millionaire and that is why most of unemployed and broke people are chasing many shitcoins.

Will it supposed that everyone chases that opportunity and aiming to become a millionaire in just a day but it looks impossible. It is really difficult to stay in the line when we don't have enough money to back-up especially when are in the market struggle and it for sure we can't take it long but to quit. This is to think that most successful traders are millionaires as they have capable of.

[bitbunnny]

This would be very risky decision. Day trading is very demanding and risky, only few are successful in it and to make for the living with day trading is something that only few are capable of. There is no guaranteed profit and no matter how modest you arr you can't be sure that you will be able to earn enough to cover all your needs and expenses.

[qwertyup23]

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.

Interesting stats as it entirely reflects the effects and realities of day trading. Contrary to what you posted, I have seen positive results based from my experience and from my peers also. Day trading is definitely risky especially if you consider the amount of capital, experience, and patience when it comes in looking for opportunities. But it also depends on what kind of goal you have as a day-trader and your limitations on the extent of loss.

This would be very risky decision. Day trading is very demanding and risky, only few are successful in it and to make for the living with day trading is something that only few are capable of. There is no guaranteed profit and no matter how modest you arr you can't be sure that you will be able to earn enough to cover all your needs and expenses.

I usually trade if I have the extra capital to do so. The dangers associated with day trading stems from your losses as you are inclined to recover from it. But once you get to experience the actual trading, it becomes relatively easier. It is essential that you observe the market frequently to know the current trends so you could base your decision from facts.

[South Park]

Requirements, Do's and Don't on Day Trading for a Living.

• Good sum of capital is a must if the earning out of trading is the primary for living
• Even if the profit margin is low go for it, because market can change in any way
• Go through few exchanges and choose differen exchanges for different altcoins
• Keep yourself updated with the different trading strategies followed by pro traders
• Always have alternate plan while trading, as the predictions and market move varies
• Prefer top listed as well as coins that have got good trading volume
• Prioritize coins that fluctuate within limited range

Solid advice, but to all of these I will add to keep your expectations in check, one of the most common issues that new investors have to face is that they have ridiculous expectations about the profits that they can get out of this market, there are people thinking that they can earn 1000 times what they invested in less than a year if they invest in the right coin, there are others that think that they can double their money in a week, and it is people like that which suffer the most when they invest in useless coins and they lose their capital.

[erickastella]

not as easy as it is done, for me trading is just to fill free time, because for me work in the real world is much more fun because we can communicate with friends directly even though they can use Video Call but it feels different, for that I choose to trade in spare time , although sometimes win and loss, but for me as long as there is no continuous loss. use stop loss to anticipate.

[LUCKMCFLY]

To take advantage of the Bitcoin market by trading and live of it, of course it is possible, but it must be taken into account, that it is not achieved overnight.

Many traders when they start doing their operations focus on how much they will earn, and the right approach would be: How much are you willing to lose? When trading is seen as a way to get rich or a millionaire, then it is better not to trade.

For me, the correct approach to trading is to see it as a business, just like any other, in every business, annual profits of 20% are expected, maximum of 30%, this according to the return on investment calculated under your previous investment. The advantage of the bitcoin market is that in just 1 operation you can do 20%, from there you have to begin.

When you have a trading plan and you see trading as a business, we might already think that you can pay the minimum earnings to live, it is not impossible, it may be difficult to get there, but studying and having a mentality focused on Market can be achieved. A very good technique is how Jesse Livermore did, every time he made a profit from his trades, half of what he earned, he withdrew it, to feel the money, enjoy it, travel, spend it, not everything is to invest and invest and operate, You have to feel the money.

[owengtam09]

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, it is true that most of day trading lose. It is also because of their instinct about the market, even trading can also require you being lucky because once you are not lucky enough just like in gambling then you will surely lose. Your analyzation or instinct will also be nonsense.

[cryptoangel]

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, it is true that most of day trading lose. It is also because of their instinct about the market, even trading can also require you being lucky because once you are not lucky enough just like in gambling then you will surely lose. Your analyzation or instinct will also be nonsense.

Crypto trading is hard to predict at the same time we never loose our investment because we already fix the perfect schedule. So once it will start dump automatically our investment is protect in trading platform. But gambling is little different from trading so once you fix the investment we loose more investment. I think they also beginner in trading so that statements are never useful for me.

[AjithBtc]

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, it is true that most of day trading lose. It is also because of their instinct about the market, even trading can also require you being lucky because once you are not lucky enough just like in gambling then you will surely lose. Your analyzation or instinct will also be nonsense.

Success of the day trading comes when you have funds in the wallet as well as have a source to meet your daily living. If you're dependent completely on the profit out of trading for living, you'll be in a situation that you need to make profit. This will surely force you to take immediate decisions which causes loss and not profiting. Good is to move to day trading after good learning as well as after earning good sum of money for your family.

[Pelunize12]

We show that it is virtually impossible for an individual to day trade for a living,
contrary to what course providers claim. We observe all individuals who began to day
trade between 2013 and 2015 in the Brazilian equity futures market, the third in terms
of volume in the world, and persisted for at least 300 days: 97% of them lost money, only
0.4% earned more than a bank teller (US$54 per day), and the top individual earned
only US$310 per day with great risk (a standard deviation of US$2,560). Additionally,
we nd no evidence of learning by day trading.

the journal observes futures market in the Brazilian equity futures market, it means that is not necessarily same result with cryptocurrency
because cryptocurrency and futures market are very different, so it can get different result.
yeah i know the jurnal just wanna tell us that is hard to do day trading for a living, but in crypto can be different.

[Polar91]

We show that it is virtually impossible for an individual to day trade for a living,
contrary to what course providers claim. We observe all individuals who began to day
trade between 2013 and 2015 in the Brazilian equity futures market, the third in terms
of volume in the world, and persisted for at least 300 days: 97% of them lost money, only
0.4% earned more than a bank teller (US$54 per day), and the top individual earned
only US$310 per day with great risk (a standard deviation of US$2,560). Additionally,
we nd no evidence of learning by day trading.

the journal observes futures market in the Brazilian equity futures market, it means that is not necessarily same result with cryptocurrency
because cryptocurrency and futures market are very different, so it can get different result.
yeah i know the jurnal just wanna tell us that is hard to do day trading for a living, but in crypto can be different.

It's more on related somehow since players' tactics in different market are also available in crypto market. What the article is trying to tell us I think is that we shouldn't be hopeful that we'll be able to day trading to live all the time; we shouldn't assume that we'll belong to that small proportion or percentage of gainers in this type of field/business.

[SaShiRaJaVu]

Yes, it is true that most of day trading lose. It is also because of their instinct about the market, even trading can also require you being lucky because once you are not lucky enough just like in gambling then you will surely lose. Your analyzation or instinct will also be nonsense.

Why would someone sell at a loss, even if you are day trading and if the market does not gives you the valuation you are looking for and the market goes down, why would anyone sell their coins at a loss, they can hold their coins till they reach the target price, people who sell the coins at a loss are the biggest fools and they have no business trading.

[iamsange]

Yes, it is true that most of day trading lose. It is also because of their instinct about the market, even trading can also require you being lucky because once you are not lucky enough just like in gambling then you will surely lose. Your analyzation or instinct will also be nonsense.

Why would someone sell at a loss, even if you are day trading and if the market does not gives you the valuation you are looking for and the market goes down, why would anyone sell their coins at a loss, they can hold their coins till they reach the target price, people who sell the coins at a loss are the biggest fools and they have no business trading.

I think for people who do day trading, sell and buy other coin usually be option in their strategy. It is like when you see other coin can give you profit in shorter time that your coin for now. I think a lot of strategies will they do to get profit in short time.

[uray]

Cryptocurrency trading is even more profitable than Forex trading, in my opinion. It is not as profitable as it used to be though but it's still OK.

Bitcoin trading is the most profitable form of trading than other than mode and with Forex trading you will get only minimal profit and the risk is also minimal as you wont see any major volatility in the market but when it comes to bitcoin market the risk is higher as the volatility is higher and the profit is higher.

I am beginning to think that profitable traders are those who can sit many hours without distractions, observing multiple exchanges, go through charts, researching, etc. It takes alot of patience, sacrifice and hardwork to stay that long.

Welcome to the new world of bots taking care of your assets, no one will be manually doing any of these process, learn how to program and create a bot, it is not that hard and it will trade according to your choice rather than you waiting and draining yourself  .

[Google+]

at this time I prefer to do long term trading methods or can be said to be living because I have a busyness that can not be in the real world so I can not monitor the conditions of the exchange, I better trade with ease and not too influenced by market conditions, only need to place a buy order and sell order is very enough.

[gabbie2010]

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.

[Colt81]

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 think that study are only for newbies who tries to day trade which they are not used to day trade or not an experienced trader. Doing day trading for a living is really risky because you could get empty handed and it is difficult to watch the market chart 24/7, but if you are an experienced trader you are already aware to the risk of day trading that you can control your emotions without panicking when the market is down, and you already know how the market works that you could minimize your losses and earn a good profit everyday.

[DaveWave]

I seldom see people that trades saying they trade for a living. I known some that have no jobs but they have their own business too. The other full time traders are acting as gurus and are selling their strategies. I think they earn not because of trading but because of selling their strategies which probably didn't do well. No need to speak in front of many people and travel on time when you can just chill anywhere in the world trading. So you are right. There are only a small percent of people that trade for a living.