Day trading, is it worth?

[Ararbermas]

Daily trading is actually good mate if you want to obtain quick profits. But remember that,, it's always depends on the coin you will pick to trade!.  fyi not all coins in the market are suitable for daily basis .. So you should pick the good one always.. Because its very skeptical tbh mate, unless you have enough knowledge in it to handle every situation. And it's actually requires a lot of time especially when it comes monitoring the movement of the coin in the graph, 'cause that's the most important . so be ready your self and mindset if you want to be successful in it. I hope you got what I'm pointing out. Best of luck mate.

[onecall123]

I'm learning as much as possible on day trading so I do watch some popular day traders movement. I studied the chart and respect others observation. In trading you should set your order, and as soon as it reaches the target leave it with taking profits. Day trader are taking advantage of the volatility, however each trader has their own fav approaches right. It's obvious gradually you're getting more comfortable.

[gabbie2010]

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.

I also day trade with Binance it quite less stressful and easier like you said, I always wait till an hour to new day when the next day candlestick is about to form, I will do price analysis using TA and scan through various trading pairs that meet up with my strategy, easy to trade but but scanning through the various numbers of pair is a little tasking and cumbersome before selecting few tradeable pairs, once a buy or sell placed I only monitor my trades once in a while throughout the day.

[adzino]

Sure, go ahead and start day trading if you are have time and willing to take this seriously. Day trading requires a lot of concertation and understanding of the market. You will have to keep yourself constantly updated with the market. You will be making profits quick but a lot of risk comes with it. There might be days where you aren't making anything. Again, the sudden volatility might make you lose everything if you make one wrong move.

I am really curious how are you evaluating your trading ideas, what is the process, and what are your rules what type of traders you are?

If anyone could explain their strategy on day/swing/scalp/position you will make my day

At least I tried it

Have a beautiful life, peace and make them gainz!

Every people evaluates their trades in different ways depending on the situation of the market. You should keep trying and you will eventually understand how it works. Mimicking  other peoples strategy won't get you anywhere.

[abel1337]

Hello guys, how are you?

It is nice to meet you!

Honestly...we're good as the market surging high making for another ATH.

Day trading is really good for people who wanted to learn and patiently wait to develop their knowledge and skills in trading. To tell you that many individuals had come and tried trading but not all of them wins. Why? it is because they don't like the results of what they are doing.

You can say that some traders can manage to have 10%-20% monthly profit, but try to ask them how long (years) they have been doing this. You will probably surprise by their answer and suggestions.

We do have different trading styles and finding the trading style that we are comfortable with is hard especially if you are only a newbie. One other factor you said is the right coin for you to trade.
Experience traders who have a lot of time commonly go for day trading because they know they have a certain knowledge of doing things such as reading charts, making patterns, and analyzing price movements of the Market.

[doomloop]

At least I tried it

this is the most important .
so what if you fail ? but atleast you tried it and you made a promise that you are going to conitnue this journey and with that , theres no need to question or to confuse yourself if you will continue in this path or not because already decided that you wanna be a trader .
 i hope you can answer your own question if day trading is worth it because you already tried it but your going to answer that its not worth it because of your own result but its worth it for the traders that are succesful .

Depends on how you tried it, I mean it is certainly a great thing to try and see how you would do, but the reality is that there is nothing that we could just yeah "so what if you fail" because that's money, so we should be careful. I prefer to test things with low amount of money before I do it but there are people who go in with all they have, because not all people are from USA or another big economy nation, some of these people are from places where 100 dollars is a lot of money and that means they will be spending all they saved whole year and if they lose that it would hurt them a lot.

I know 100 dollars is nothing, if you go under that we are talking about even more nothing, but there are people who end up losing a lot of money. This is why I think it is quite obvious that there should be nobody who would end up spending ton of money for them and then be fine with it.

[blockman]

Having the goal of 1% profit margin for the every trades you are making will let you to double your capital in just 100 trades which can be done in a day or two but the problem is we can't expect the price to be increasing always so when price drops you lose the profits of all the trades means it is worth but highly risky.

I find it hard to do that in a single day or even two. That's stressful and needed much mental awareness for you to do it. Knowing that most of the people are on their homes, there's a likely that you can fail in many of those trades which won't allow you to reach even a 1% profit for that single or for two days.

Yes, that is why day traders stuck in the same place where they begun their career for years while investors keep making profits and compounding them which is giving more profits than previous years.

And it ends up being an investor is a better choice than to day trade. I myself am an investor and found it better than day trading. But there were times that I did day trade and that seems to be a good day but many were bad days too.

We cannot make money always, and in day trading is hard to achieve that daily profit since we’re lucky sometimes and most of the time, we’re struggling to make profit and this is what makes day trading a lot more risky. Day Trading is profitable if you’ll just compute your transactions every month and if you’re consistent on doing analysis before you trade, don’t expect to always win.

There's no difference if you're going to compute it daily or monthly, I think that's only for the projection which may look higher if you do it monthly.

[Alexmagn84]

I need to exchange however for the most part I go in through Bitcoin and Ethereum. I need to share that I'm utilizing the Bollinger groups and the RSI simply going for every day exchange and furthermore with the binance and utilizing the disconnected exchanging. On the off chance that it works better with you doing day exchanging, it will be worth if for you. Yet, dealing with day exchanging do surely have to invest bunches of time and energy worried on checking your resource.

[Findingnemo]

And it ends up being an investor is a better choice than to day trade. I myself am an investor and found it better than day trading. But there were times that I did day trade and that seems to be a good day but many were bad days too.

Actually, myself as well a day trader who used to have trading volume of few hundred bitcoins on LBC but I am doing it more like fun and hobby than doing it to bring revenue which is supposed to fulfil my survival requirements. And I can also repeat that as a day trader you may face more bad days, even few hours can ruin all your profits of a month.

[Slow death]

[...]

Few people will tell you the strategy they use, but I'll give you some tips (without revealing my strategies)

1 - spend at least 6 hours a day following the chart movement, preferably choose the pair BTC - USDT

2 - study technical analysis and preferably use the 15 minute and 4 hour chart

3 - observe the support and resistance

if you keep watching the chart a lot you will discover something very fantastic (  BTC - USDT )

good luck  

[Ridwan Fauzi]

I just wanna know, do you trade using future market or spot market? What exchange that you use?

I began a trading jurney since 2019 ago, I directly tired a trading future because I always tempeted to get a lot of profit with the small using of course using high leverage (at least 15x leverage). Indeed, at that time bitcoin was starting increase and actually at that time I don't have any strategy, I just using my instinct to make a decision buy and sell. The lucky just came to me, I spend $50 and I got $500, a huge amount and I confident to be a day trader.

But something bad happened to me when bitcoin price was trying to decrease (I realize now that it was a temporary correction). I loss a lot of money at that time because when bitcoin was tryinh to fall I will use the cut loss so as I'll not get a huge loss. But, the strategy is wrong, I got panicked when its price is fall whereas that is a temporary fall. Then I realize that this way will not make stand for long time and I bought a lot of trading book and learn everything about trading and greatfully the difference in losses is less than I get profit.

[Ziskinberg]

But something bad happened to me when bitcoin price was trying to decrease (I realize now that it was a temporary correction). I loss a lot of money at that time because when bitcoin was tryinh to fall I will use the cut loss so as I'll not get a huge loss. But, the strategy is wrong, I got panicked when its price is fall whereas that is a temporary fall. Then I realize that this way will not make stand for long time and I bought a lot of trading book and learn everything about trading and greatfully the difference in losses is less than I get profit.

Panic can be felt if we are emotionally brag by the news and FUDs. This a reason why I just ignore them rather than concentrate on the market chart and understand that market correction will come anytime. And if can't control this feeling, trading isn't the right place for you to stay, I'm not sure as well if holding could give you some room knowing that your emotions can simply give you in trouble.

[MCobian]

Of course day trading is very feasible and can make a lot of money. The problem is that day trading is not for everyone, meaning that not
everyone is compatible with day trading and can make profit from day trading. We can all check for ourselves whether it is really suitable
for us to do day trading or not. By trying to do day trading for one month, then if we manage to get a profit of 10% -20% it means that
we deserve to do day trading. But before doing day trading, make sure we are able to analyze the market correctly.

[Wexnident]

Whenever I try day trading (Every now and then), I tend to choose around 3-4 coins in which I just check whether corrections would happen or not and play around with that. I don't particularly read too deep into candles and charts, I just buy low and sell high (aka its all my assumptions of when the "low" happens and when the "high happens). I just tend to take profit whenever I can, no matter how small so that I don't go too deep and lose all my money cause of greed. Profit is pretty small, yes, but well, at least it's profit right? That's what matters imo anyways.

[isaac_clarke22]

~

Actually, myself as well a day trader who used to have trading volume of few hundred bitcoins on LBC but I am doing it more like fun and hobby than doing it to bring revenue which is supposed to fulfil my survival requirements. And I can also repeat that as a day trader you may face more bad days, even few hours can ruin all your profits of a month.

This.
Actually I had more bad days back then in my day trade in Binance, since I was still a newbie learning the ropes of day trading. Quite expected for a newbie but still it was really rough experience.
I had used a lot of indicators already like RSI and Bollinger Band, but still it didn't give me well.
Few hours can ruin all your profits of a month? Yes, indeed. I felt that.

[Renampun]

are you sure about day trading!!!
believe in me is very difficult. I have tried to be a day trader but the busyness of the real world makes it difficult for me to make a profit from it. being a weekly or monthly trader is much more enjoyable and does not interfere with activities in the real world.

[AicecreaME]

i hear RSI is good indicator

Every indicators in trading is good, to be honest, that's why it's there. The only thing you need to do is to find the one that you understand easily. For me, Fibonacci + TSI + MACD works pretty well. My advice is always make your chart as simple as possible, like you can easily spot the convergence zone, divergence zone, etc. etc...

Because the fault of some traders are they putting a lot of indicators in their love chart believing it would be more effective and they will make easy profits from it, but the sad reality is no. They are just making everything complicated for them, that's why most of the time they are missing their chances to make profits in day trading.

[electronicash]

are you sure about day trading!!!
believe in me is very difficult. I have tried to be a day trader but the busyness of the real world makes it difficult for me to make a profit from it. being a weekly or monthly trader is much more enjoyable and does not interfere with activities in the real world.

if you stay on derivatives, it will be good to be a day trader granting you know how to read 1hr chart or maybe 15min chart. yes it's worth earning day trading, everyone wants to earn until you caught up when the trend is against your bet.

it's safer to just buy BTC wait until it goes up and sell and then buy again when the price dips. this is safer because the BTC you bought will not be affected by the leverage.

[AlphaDayTrader]

I am a day trader.
1.check 15min and 4hour
2.check MACD
3.check MA20,MA60
4.most important, calculate press and support.
I use a AI calculator to find  press and support.

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