Day Trading for a Living?

[n0ne]

Day trading for a living is a difficult thing for a common man who doesn't have much technical knowledge. Day trading gives the best when we have handful of earning for a better living and spend on other needs. Now when we get into trading we'll be free to take buy and sell decisions. The same can't be taken easily when our primary earning for living is the same.

[oktana]

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.

to be consistent to live as a day trader, you must at least continue to learn new things every day, you are familiar with the routine checking routine, only need to change the strategy. Focus first on what percentage of daily profit you want. Many traders give up on the situation because of the difficulty in analyzing, but here is the important key that traders must actually understand all trading methods and their conditions, even including margins and futures.

[Palider]

You will not have a good day trading profit and you will surely lose here even if you are updated on every move in the market.
Unless you have a large sum of money to circulate in the market, or you are one of the whales in the market who can control the market and move its price up and down.

[Tungsten-1]

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.

You are suffered because of less control over emotions as you said it is always stressful for you. You most probably get easily influenced by the decrease in values of your coins and fall for panic selling. If panic selling is your thing, definitely you cannot do day trading. The better option for you is to go with bitcoin for long term trading. As far as making living with day trading is concerned, there are traders who are doing so.

[snipie]

You will not have a good day trading profit and you will surely lose here even if you are updated on every move in the market.
Unless you have a large sum of money to circulate in the market, or you are one of the whales in the market who can control the market and move its price up and down.

Best attitude is to buy at low $6-7k (last months) and sell at high ~$9k. This example was available only in the previous months obviously.
Daily trading require following charts every so on which is very time consuming for few dollars per $1k traded...

[Renampun]

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.

[BartS]

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.

Most do not realize how difficult it is to day trade and this is even more true in this market, the volatility and the movements this market can make in a matter of minutes are not something that can be taken lightly.

I consider myself a small investor and that is hard enough for me, I do not understand how those that day trade deal with the high level of stress that such an activity may generate and I have read some articles that many day traders do not last long no only because they lose their money but also because they cannot deal with the difficulty of the job.

[matchi2011]

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.

But there's still people who continue scalping the market, trying even in a little pinch they can generate profits. Always depends from how traders
approach with risk and how they can handle it. Most of those who are doing this are aware of losing but still proceeding for the chance that they can
get from this trading style. It's achievable in terms of having a good system to follow and willingness to move forward whatever it takes.

[LouVandetta]

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.

Indeed, I tried to be a day trader but sometimes it needs more time before I take the profits. The alts that I've bought were kinda slow, so I can't really say I'm doing daily trading. I take the profits every other day or weeks.
Not to mention not everytime that I have good days, sometimes it had its bad days.

It's a really tiring thing to do, by watching the market movements for hours a day.

[barabarian1]

yes, I agree with your opinion if the majority of people who trade daily experience defeat. I myself do not have a dream to work with trading every day to live. I don't want to earn any income from trading, I will do other work if I think I will get income. from the income that I get, I will use it to invest in bitcoin for a long time. because I predict that the price of bitcoin will increase in the future. in my opinion investing in bitcoin is a dream that can make life better in the future.

[logicgate]

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.

Indeed, I tried to be a day trader but sometimes it needs more time before I take the profits. The alts that I've bought were kinda slow, so I can't really say I'm doing daily trading. I take the profits every other day or weeks.
Not to mention not everytime that I have good days, sometimes it had its bad days.

It's a really tiring thing to do, by watching the market movements for hours a day.

  This is the major reason I am not inclined towards day trading. It pushes you towards restlessness and distress. You need to sit in front of your laptop all day long in order to make sure you don’t miss any chance of cashing out profits since the market of altcoins changes within minutes and usually altcoins are used for day trading. I will suggest you switching to popular altcoins and bitcoin for great results.

[jossiel]

I don't want to earn any income from trading

First time of hearing that someone whom doesn't want to earn with trading.

I will use it to invest in bitcoin for a long time.

But isn't it when you sell bitcoin, you have traded it for fiat?

[yulionoo]

in my opinion daily trading is only suitable for people who have been in the crypto market for a long time, are experienced and have large capital. and some of them I think already have great wealth and assets. so that when trading and experiencing losses they will not be confused with money for daily needs. and for a beginner on the crypto market it is better not to trade because it is very risky. better to make long-term investments.

[Cheesus]

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.

Same thing happening with me nowadays. Day trade seems very difficult because you can't be sure what is gonna happen with your coin as the crypto market movements are not stable! Within a few minutes, the Bitcoin price can be down over a thousand dollars! I am doing a short time trade. Recently I joined a paid signal group, honestly, after years, I found a true signal group! But yet that is not enough for living with the crypto trading.

[wajik-tempe]

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.

Same thing happening with me nowadays. Day trade seems very difficult because you can't be sure what is gonna happen with your coin as the crypto market movements are not stable! Within a few minutes, the Bitcoin price can be down over a thousand dollars! I am doing a short time trade. Recently I joined a paid signal group, honestly, after years, I found a true signal group!

Most proferssional traders are not just living with cryptocurrency trading, because the price of cryptocurrency is really speculative and it's hard to do a stable profits each day.
Some daytraders who living just by trading usually from trading countries currency and stocks, because they can't only rely with cryptocurrency trading because too risky. And also even joining paid signal groups will not guarantee you to get stable profits each day, trust me.

[Swordsoffreedom]

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.

[Triffin]

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.

Indeed, I tried to be a day trader but sometimes it needs more time before I take the profits. The alts that I've bought were kinda slow, so I can't really say I'm doing daily trading. I take the profits every other day or weeks.
Not to mention not everytime that I have good days, sometimes it had its bad days.

It's a really tiring thing to do, by watching the market movements for hours a day.

  This is the major reason I am not inclined towards day trading. It pushes you towards restlessness and distress. You need to sit in front of your laptop all day long in order to make sure you don’t miss any chance of cashing out profits since the market of altcoins changes within minutes and usually altcoins are used for day trading. I will suggest you switching to popular altcoins and bitcoin for great results.

I have almost same issues with day trading. It is really tough for job holders to adopt this mode of trading for making some decent money as it requires a lot of time and concentration. Even if you are giving time but distressed or tired, you will definitely miss the points of withdrawal. I am in favor of doing long term trading with bitcoin and Ethereum since they offer nice profits without any stress.

[Mahanton]

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.

Indeed, I tried to be a day trader but sometimes it needs more time before I take the profits. The alts that I've bought were kinda slow, so I can't really say I'm doing daily trading. I take the profits every other day or weeks.
Not to mention not everytime that I have good days, sometimes it had its bad days.

It's a really tiring thing to do, by watching the market movements for hours a day.

  This is the major reason I am not inclined towards day trading. It pushes you towards restlessness and distress. You need to sit in front of your laptop all day long in order to make sure you don’t miss any chance of cashing out profits since the market of altcoins changes within minutes and usually altcoins are used for day trading. I will suggest you switching to popular altcoins and bitcoin for great results.

I have almost same issues with day trading. It is really tough for job holders to adopt this mode of trading for making some decent money as it requires a lot of time and concentration. Even if you are giving time but distressed or tired, you will definitely miss the points of withdrawal. I am in favor of doing long term trading with bitcoin and Ethereum since they offer nice profits without any stress.

It depends though yet not all people do had that kind of hectic schedule even to those who do have jobs do make some active trades knowing that accessing trading platforms
arent really that hassle anymore as long we do have our own mobile and internet connection.You can trade on the go and checking out actively your current orders.
Time and hard work is crucial and profitability would always vary on how you do seriously trade off since not all people do have the same mindset and decisions when we do trade.

[diazepam666]

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.

[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.