Day trading, is it worth?

[palle11]

Yes, I lost the battle , however, I don´t want to lose the war

Yeah losing the battle is losing your account by logic conclusion and not losing the war is not giving up in trading Nice passion. Passion is good for trading and seeing you have gone to study and do more research is good.

I will direct you from your post where you should do more research on because that is where your strength is or you have a good plan already that you can build and depend on.

My journey began at the beginning of the pandemic. My portfolio was growing and I was in a state of euphoria. I assumed, that trading was really easy and instead of sticking with my initial plan (long-term investing) I got to shorting/trading a lot. Yes, I lost the battle....

Above is the answer you provided by yourself.  

So why run away or abandon a winning plan for something else you don't know and may be confused about? You confirm you have winning trades, why not stick to it, develop more by focusing your research on it and avoid losing the battle (s).

The grass always look greener from afar remember. No trade pattern is perfect.

No football coach will intentionally avoid using there best legs in a tough match.

[1714841014]

1714841014

[Peaceandlove!]

Since then I have read studied books/watched videos and I come to conclusion from Socrates: I know that I know nothing.

If you have reached this point, you are doing super great, and I mean it!

I am talking about the path of naked charting/indicators/patterns.

I was lucky enough to stay on (a tiny) profit while I've "played" day trading, until the point I understood that I know nothing and that I'm doing it wrong. And I've stopped.
If you want to "continue the fight", be careful. There's something people keep telling and I find it very true: TA alone is not enough. TA alone can trick you very easily. You have to be connected to all the news and rumors, whether it's from crypto, or politics or finances. And then you have a chance. And never forget the main 3 rules:
1. Only play with money you afford to lose (eg. not credit money)
2. Stick to the plan (don't be greedy, don't panic, ...)
3. Always have a safety net (eg. stop loss)

I do agree with you. Do you like to keep track of on chain analysis? When did you day trade have you used 1%trading rule, was it something else, or just play money? Thank you for your answer!:)

[Peaceandlove!]

My journey began at the beginning of the pandemic. My portfolio was growing and I was in a state of euphoria. I assumed, that trading was really easy and instead of sticking with my initial plan (long-term investing) I got to shorting/trading a lot. Yes, I lost the battle ....

If you do not have the knowledge and experience, then using day trading you will definitely lose your deposit. In such cases, it is better to stick to investing for the long term, leaving the minimum part of the deposit to gain experience in day trading, while simultaneously gaining knowledge about trading.

Thank you for your advice. I have to gained it !

[Peaceandlove!]

You’re putting too much emotion with your trades, and this is also why many are losing money in trading and most of them stopped on trading. I’m not into day trading because of my work so I prefer a medium to long term trading which I can easily analyze the market on a larger time frame.

If you’re still not ready for day trading then don’t do it, just imagine how much you can make in medium to long term trade compare to day trading, again this is all depends on your strategy.

Thank you for your answer and advice. I would like to put money aside for a long-term view as well! (btw. yeah I was emotional and still, I am...nevertheless I learned my lesson and I have to separate it from trading! )

[Peaceandlove!]

i often do daily trading. it's easier for me, compared to scalpers who have to continuously wait in a few minutes. day trades only buy and hold and the target will be higher.

What is your current return?

[el kaka22]

To some people, I know that is not profitable for some other people but there are people who can profit from this, that is what I can see from others and not me. I have tried trading and I wasn't good at it, I sometimes do it again when I see a coin dropping too much and I think that coin worths more, not on small coins but the big top 20 coins and those usually go back up after they drop so I get them and sell them when they go up. Those kinds of stuff really do matter a lot in crypto.

However I know people who trade daily and they make a lot of money, I know a guy who made 100+ bitcoin from nearly zero in the past 3-4 years and that kind of stuff really shocks me but they do happen. Which is why I think it is quite obvious that we should be focusing on what we can and we can't do, if you can trade and good at it you should do it but if you can't you should probably stay away.

[Peaceandlove!]

Btw. Guys thanks for all of the knowledge . I wanted to respond to every one of you, however, it would mess the whole topic (which partially does, do apologize for it ).

[peterpanda]

That's why in trading, a lot of experience and information are needed to get profit from it. You should keep calm and don't be panic. Try to make 1-2% daily and it will a huge amount at the end of the month. Finally you can use the strategy of stop loss.

[DarkDays]

Day trading is worth it if you have a lot of time or full time in trading like trading for a living. Consider too the size of your portfolio because you need a good amount of capital for it since you are dealing with a consistent trading fee per arbitrage so it's important that you consider the size of your portfolio is huge to cover the trading fee.

I do day trading before and gain profit but when I compared when I just hold it, I have more profit when I just hold.

Day trading requires constant check. So instead, you could buy and hold for the long term as in today's bull market if you choose the right coin you can't be spoked by small market volatility. There are still a few alts out there that are far from their potential=, so plenty of room to grow. Be wise when choosing and don't get too hang up on feelings.

[sayaya17]

For daily trading, I do not take a lot of profit, maybe it's only 1 percent, daily trading is very time-consuming to keep track of the market
where when there is only a little profit there, then I have to sell it immediately. Maybe it's  better for me to  avoid losing, but I still make
a profit. Yeah, every trader has their own strategy. You'll also find your own strategy in the end.

[Traderbtcc]

Day trading is worth it if you are an experienced trader and if you always stick to your strategy, else if you are beginner you are bound to lose your money, I did day trading one time and I didn't enjoy it, because it requires alot of time and attention, you have to actively watch the price chart to be able to catch every little 1-5% move a coin makes, in my case I couldn't give it that much attention so I stopped day trading, now I only the longterm/swing trading and so far I'm doing great.

[Hamphser]

Btw. Guys thanks for all of the knowledge . I wanted to respond to every one of you, however, it would mess the whole topic (which partially does, do apologize for it ).

Go ahead!

When you do like to respond and making up more further discussion then theres no such thing about messing up the topic.People would really be making out discussion or own opinions and
this is the sole purpose on why forum does exist on the first place.

Good for you that you do able to get some idea and knowledge about those responses above.If you do look that this one already answered out or do able to clear up then better lock
this thread.

For the topic on asking if day trading is worth it then yes it is but it wont really be that simple.

[Peaceandlove!]

Btw. Guys thanks for all of the knowledge . I wanted to respond to every one of you, however, it would mess the whole topic (which partially does, do apologize for it ).

Go ahead!

When you do like to respond and making up more further discussion then theres no such thing about messing up the topic.People would really be making out discussion or own opinions and
this is the sole purpose on why forum does exist on the first place.

Good for you that you do able to get some idea and knowledge about those responses above.If you do look that this one already answered out or do able to clear up then better lock
this thread.

For the topic on asking if day trading is worth it then yes it is but it wont really be that simple.

S/O to the group. Btw. what about you are you a day trader or swing/hodl?

[LUCKMCFLY]

~snip~

If you are going to do intraday trading you should also have a good plan so that you can react to market movements, it is always good that you choose an Exchange that you can place in the same order Take Profit + Stop Loss, that will protect you in a great way . Have you heard of Wyckoff's theory? at the Wyckoff institute there is a special one for Intradia.

I particularly recommend that you take a look to see if you like the way the market is analyzed with that theory, it is very good, it has a lot of information that is applicable to all types of markets, stock market, forex, Bitcoin, cryptocurrencies in general. I particularly recommend that you take a look to see if you like the way the market is analyzed with that theory, it is very good, it has a lot of information that is applicable to all types of markets, stock market, forex, Bitcoin, cryptocurrencies in general.

[milewilda]

Day trading is worth it if you have a lot of time or full time in trading like trading for a living. Consider too the size of your portfolio because you need a good amount of capital for it since you are dealing with a consistent trading fee per arbitrage so it's important that you consider the size of your portfolio is huge to cover the trading fee.

I do day trading before and gain profit but when I compared when I just hold it, I have more profit when I just hold.

Day trading requires constant check. So instead, you could buy and hold for the long term as in today's bull market if you choose the right coin you can't be spoked by small market volatility. There are still a few alts out there that are far from their potential=, so plenty of room to grow. Be wise when choosing and don't get too hang up on feelings.

Common target that everyone is trying to achieve on on where to select the most or potential ones that could really give us out some nasty profits once it had been pumped or been considered to be increased in the market.
Day trading does involved sufficient time on dealing with the market but if youve decided to held up for long term then these things wont really be that much off needed. Day trading is worth of but
depending on someones time and the effort that they can give.This thing isnt something that can be achieved in a short span of time and still lots of people been trying
to get such skill.

[Kelvinid]

Hello guys, how are you?

It is nice to meet you!

My journey began at the beginning of the pandemic. My portfolio was growing and I was in a state of euphoria. I assumed, that trading was really easy and instead of sticking with my initial plan (long-term investing) I got to shorting/trading a lot. Yes, I lost the battle , however, I don´t want to lose the war, therefore I have started study a lot and I got to the point:

I'm happy to say traders have good results of their works. For they are just a few of them make it well while the others get lost. But it find it wrong thinking that trading is really easy, Yeah, that was a tough job you do.

The bullish trend that we have now makes traders become profitable but when the market turns to bearish, that was the crucial part in trading where your patience could be tested. That was a big challenge for them and this is also the reason why many traders tried just gone after. Emotions are a hindrance to trading and that really hard to control no matter what we say we can but the truth is that we can't.

[santiPOGI]

Day trading for me based on my what I did everyday was really effective and gave a good earnings in terms of financials problem.
Particularly, we are facing pandemic where we need to stay at home most of the time due to we need to follow all the protocols on this.
So, my answer is a big YES for me.

[Strongkored]

I initially did day trades, but switched to middle or long term and I think this is much more profitable and safer, the reason why switching from day trade to new one is because day trades need more time to stay at PC to reading the chart movement and often it doesn't work according to the analysis.
But day trade or something else depends on the tastes and knowledge of each trader, usually traders who do day traders join a paid group that shares signals.

[pooya87]

But day trade or something else depends on the tastes and knowledge of each trader, usually traders who do day traders join a paid group that shares signals.

Those who join such groups are gullible gamblers not day traders because none of these groups give you any valuable signal they just throw random information at their users among some small analysis but the main purpose is to fool newbies who join to buy the shitcoins they want to get pumped so that THEY could dump their coins and make money.

[NeuroticFish]

Do you like to keep track of on chain analysis? When did you day trade have you used 1%trading rule, was it something else, or just play money? Thank you for your answer!:)

I do look for TA, I do check now and then historical data. Is that really on chain analysis? Maybe close to that, but not really. As I said, I check now and then to understand what has happened and what's next to be expected, but since I am not that good on them, I also rely on what this or that guy is posting.
Sadly the TA guy I liked the most was caught cheating a signature campaign with multi-accounts, got kicked out of campaign, and he didn't post since.

And I was "trading" with play money. I was trading with money gathered from signature campaign, not touching the money from the day job. And I was trading on the altcoins market.
It was with rather small funds, small margin and a lot of time and stress. It was good only as gathered experience, since it happened rather shortly after I've learned the basics of TA.