Can you make money day trading Bitcoin?

[bulanovavicta]

I think it all depends on your level and knowledge in the field of trading. In general, it is quite possible to earn by trading bitcoins.

[Oshosondy]

Taking into account that most of the traders lose... over 80% of them, I wonder how much money you expect to make.
Trading is not some dream world where you grow money on trees, it's hard work.
Crypto is over-hyped now, so when the s...t hits the fan, there'll be lots of losers.

You are not wrong, but did you actually know that some traders gain? Most like 80% can be losing, I have even read it somewhere before that over 75% or more of traders are losing, but few traders still make profit. The reason for most losses is high leverage which liquidate the money used at very close price range to the price the position is opened. It is better to do spot trading which can be profitable if patient enough. Trading just need tactics, but if using low amount of money and losing, then better to just not trading again, holding will be better.

[Issa56]

Seriously your post is really nice and interesting most expecially the part which you talk about trader's losing money, most newbies coming into cryptocurrency believe cryptocurrency trading is just about buying and selling of coins and making profits which they don't believe trader's also lose money and after they lose money they endup getting disappointed which is wrong trader's also lose money.
Secondly I believe people make money day trading bitcoin but I believe as a newbie you shouldn't involve your self in day trading because in involves technical analysis so if you don't really understand bitcoin technical analysis avoid day trading.

[Hypnosis00]

Taking into account that most of the traders lose... over 80% of them, I wonder how much money you expect to make.
Trading is not some dream world where you grow money on trees, it's hard work.
Crypto is over-hyped now, so when the s...t hits the fan, there'll be lots of losers.

You are not wrong, but did you actually know that some traders gain? Most like 80% can be losing, I have even read it somewhere before that over 75% or more of traders are losing, but few traders still make profit. The reason for most losses is high leverage which liquidate the money used at very close price range to the price the position is opened. It is better to do spot trading which can be profitable if patient enough. Trading just need tactics, but if using low amount of money and losing, then better to just not trading again, holding will be better.

Most traders or everyone suffers losses in their early days before they learn about trading. It can't be avoided but we can do something to make it minimal by simply making a good decision and correcting mistakes that cause our previous losses. Particularly, day-trading is risky, and have to admit that. We can make losses but we can make some gains as well. If we just change and correct all the mistakes we do before, it is possible to increase the chance of earning side rather than losing.

[yohananaomi]

Yeah,its possible to make money by trading Bitcoin. I think, good profit ce be earned in day trading. Long term and short term trading in different purpose. But I'm personally interested in long term trading. I think skillful traders makes money in day trading. Bitcoin is a good opportunity to source to make money in trading.

indeed, if you are smart in daily trading, of course it is better to do the daily trade, because the movement of bitcoin is indeed fast to increase and decrease so that trades can be completed quickly. but it is clear that the risk experienced is also very large, if we analyze it wrongly.

but if the analysis is wrong, you can want to hold on to it for a long time in order to get the desired value. bitcoin will always increase in time, that is what is most preferred with bitcoin trading there will always be alternatives to do.

[ultrloa]

Taking into account that most of the traders lose... over 80% of them, I wonder how much money you expect to make.
Trading is not some dream world where you grow money on trees, it's hard work.
Crypto is over-hyped now, so when the s...t hits the fan, there'll be lots of losers.

You are not wrong, but did you actually know that some traders gain? Most like 80% can be losing, I have even read it somewhere before that over 75% or more of traders are losing, but few traders still make profit. The reason for most losses is high leverage which liquidate the money used at very close price range to the price the position is opened. It is better to do spot trading which can be profitable if patient enough. Trading just need tactics, but if using low amount of money and losing, then better to just not trading again, holding will be better.

Most traders or everyone suffers losses in their early days before they learn about trading. It can't be avoided but we can do something to make it minimal by simply making a good decision and correcting mistakes that cause our previous losses. Particularly, day-trading is risky, and have to admit that. We can make losses but we can make some gains as well. If we just change and correct all the mistakes we do before, it is possible to increase the chance of earning side rather than losing.

Maybe some earn on their first run but actually this will never happen on the long run especially when sudden bear market season occur since for sure many newbies will be burn at that time. And what good thing there if they really take a deep look on  that situation for sure they can get an experience and know how to diversify their portfolio on next time around.

We can make losses its normal but we can do something to avoid it and convert those to profit and the one option we need to do is to learn reading the chart and hear some news about how market goes at the moment.

[iv4n]

I think it all depends on your level and knowledge in the field of trading. In general, it is quite possible to earn by trading bitcoins.

I guess making a profit by day trading Bitcoin depends on many factors, one of those factors is the level of knowledge in that field! But just knowing is not enough, you need to have good timing, you need to have good analytic skills, capital for trading is also very important (asset allocation), risk management... and I believe luck is one of the factors as well, to simply be online and in the right place in the right time!
In crypto, anything is possible, so people should try it and discover by themselves is day trading for them or not!

[AicecreaME]

Day trading is not a good idea, especially if you're a beginner. It requires a lot of time, efforts, and a good amount of knowledge when it comes to market movements, because that's where you'll get your profits within the day. In short, day trading is buying and selling a certain stock or coin before the market closes within the day, in cryptocurrency, you have to sell it before it dumps again.

To simplify it, you need to take advantage even on the small amount of volatility that a certain stock or a coin makes in a day.

[breathlessz]

Day trading is not a good idea, especially if you're a beginner. It requires a lot of time, efforts, and a good amount of knowledge when it comes to market movements, because that's where you'll get your profits within the day. In short, day trading is buying and selling a certain stock or coin before the market closes within the day, in cryptocurrency, you have to sell it before it dumps again.

To simplify it, you need to take advantage even on the small amount of volatility that a certain stock or a coin makes in a day.

For beginners it is best to invest first in the long term. but for day trading, i guess have to go through the process to learn it. day trading is not easy, because with high volatility it will require good psychological resistance, day trading tends to teach us to be disciplined and sometimes have to dare to cut losses if it doesn't match the analysis

[Smitty Werben Man Jensen]

Day trading is not a good idea, especially if you're a beginner. It requires a lot of time, efforts, and a good amount of knowledge when it comes to market movements, because that's where you'll get your profits within the day. In short, day trading is buying and selling a certain stock or coin before the market closes within the day, in cryptocurrency, you have to sell it before it dumps again.

To simplify it, you need to take advantage even on the small amount of volatility that a certain stock or a coin makes in a day.

For beginners it is best to invest first in the long term. but for day trading, i guess have to go through the process to learn it. day trading is not easy, because with high volatility it will require good psychological resistance, day trading tends to teach us to be disciplined and sometimes have to dare to cut losses if it doesn't match the analysis

Day trading is certainly not for newbies because their knowledge and skills are still small,
Besides that, experience is one of the most important things to get better, as you said, investing in the long term.
Of course it is accompanied by learning to expand everything related to crypto

[TheGreatPython]

I guess making a profit by day trading Bitcoin depends on many factors, one of those factors is the level of knowledge in that field! But just knowing is not enough, you need to have good timing, you need to have good analytic skills, capital for trading is also very important (asset allocation), risk management... and I believe luck is one of the factors as well, to simply be online and in the right place in the right time!
In crypto, anything is possible, so people should try it and discover by themselves is day trading for them or not!

Sometimes, is best to stay off from day trading if you don’t have enough funds. Day trading is a really difficult kind of thing to do, and it requires good amount of capital, and also the knowledge as you have said. There are some people who don’t have enough money just to take care of themselves and their responsibilities, not to talk of investing it and day trading it in the cryptocurrency market. These people end up losing the Little money that they have on them, just because they want to trade, and I have seen where it all leads to.

It is even more advisable to start with investing, than Trading, because trading involves much more risk than when you are investing. As an investor you stand more chance of making income from cryptocurrency investment that you have made, because you stand a chance that the price of that assets will increase in future.

[yohananaomi]

Day trading is not a good idea, especially if you're a beginner. It requires a lot of time, efforts, and a good amount of knowledge when it comes to market movements, because that's where you'll get your profits within the day. In short, day trading is buying and selling a certain stock or coin before the market closes within the day, in cryptocurrency, you have to sell it before it dumps again.

To simplify it, you need to take advantage even on the small amount of volatility that a certain stock or a coin makes in a day.

For beginners it is best to invest first in the long term. but for day trading, i guess have to go through the process to learn it. day trading is not easy, because with high volatility it will require good psychological resistance, day trading tends to teach us to be disciplined and sometimes have to dare to cut losses if it doesn't match the analysis

Day trading is certainly not for newbies because their knowledge and skills are still small,
Besides that, experience is one of the most important things to get better, as you said, investing in the long term.
Of course it is accompanied by learning to expand everything related to crypto

actually what you say is certainly good, but as a newbie if you want to go directly to day trading, of course it is also a positive thing, but it must be adjusted to the portion that will be done because it is still new, it is better with a small portion first, if you already know the character can only improve. trying directly, of course, there are good and bad aspects, the most important thing is the aim of learning directly so that you can find out where the error is that can be corrected immediately so that in the future you don't make mistakes again.

[martina14]

Yeah, We can able to make money in day trading bitcoin, only if you have a large of holding of Bitcoin, but if you have small amount of bitcoin the profit as well for sure is small in the end.  So, if you like Big profit you supposed to have a big holdings of Bitcoin as well in your wallet whatever exchange you like to use.

[zaesvlas]

Strictly speaking, what is in the way? Bitcoin is the same cryptocurrency as many others, so it is quite possible to make money. Here the bet is only on the trader's qualifications.

[Dragonfund]

Strictly speaking, what is in the way? Bitcoin is the same cryptocurrency as many others, so it is quite possible to make money. Here the bet is only on the trader's qualifications.

You didn't considered capital, wow! You are such an expert in trading.
How do you intend to make return in every trade you make? There is vast approach on trading bitcoin alone with variations in capital, you don't expect a trader making daily trading with $100k in bitcoin with some trading with just $100, there reward pnl Wil definitely be different.
Market conditions is also very important regardless of the experience, a fresh trader in a bull rull may be lucky but only few survive in bear market.

[Quidat]

Strictly speaking, what is in the way? Bitcoin is the same cryptocurrency as many others, so it is quite possible to make money. Here the bet is only on the trader's qualifications.

You didn't considered capital, wow! You are such an expert in trading.
How do you intend to make return in every trade you make? There is vast approach on trading bitcoin alone with variations in capital, you don't expect a trader making daily trading with $100k in bitcoin with some trading with just $100, there reward pnl Wil definitely be different.
Market conditions is also very important regardless of the experience, a fresh trader in a bull rull may be lucky but only few survive in bear market.

Maybe he particularly talks about on other perspective neither having low or big capital wouldnt really matter as long you do know on how to trade which simply implies that you could able to handle up situations like these and the rest would really vary on that obvious side of things
about probable profits on a particular capital you do have.Lets talk about ability and capacity on here yet not all would  really be having the same level of skills when it comes to this.

[TinaK]

Day trading is not a good idea, especially if you're a beginner. It requires a lot of time, efforts, and a good amount of knowledge when it comes to market movements, because that's where you'll get your profits within the day. In short, day trading is buying and selling a certain stock or coin before the market closes within the day, in cryptocurrency, you have to sell it before it dumps again.

To simplify it, you need to take advantage even on the small amount of volatility that a certain stock or a coin makes in a day.

That is the fact here because if we have to take a look at the market price, altcoins move does the same with bitcoin and how can we earn profit within a short period of time like day trading. It is also very risky because, in order for you to have a profit, you need to pick a coin that has strong volatility which has a sign of making a profit.

For me in my own opinion, I will not go on day trading even do I'm an expert or not. It is very risky, it is better to choose if you will hold your bitcoin and wait for a perfect time.

[Slow death]

to make money doing day trade of BTC - USD pair one needs to have a lot of capital, at least he has to have above 1000$ because in each bitcoin fluctuation the person will earn almost nothing after paying fees when doing day trade with bitcoin. unless of course the person is the type of person who buys and expects to get a significant raise to be able to sell so that it pays off after paying the fees.

[GreatArkansas]

Yeah, We can able to make money in day trading bitcoin, only if you have a large of holding of Bitcoin, but if you have small amount of bitcoin the profit as well for sure is small in the end.  So, if you like Big profit you supposed to have a big holdings of Bitcoin as well in your wallet whatever exchange you like to use.

That's already given if you have small capital, you will gain small profits too but the risk is less here because you have low capital.

So for me, even how much your trading capital is as long as you are consistent, even you have slow profits, you will still able to earn profits. It's good for me because you are learning and once you already have some experience, you can add or increase your capital later.

[bhooscream]

Bitcoin is the same cryptocurrency as many others, so it is quite possible to make money.

Not really the same as other crypto coins. We all know that Bitcoin has an expensive price, needs a lot of money to earn daily profits by trading Bitcoin. That's why many people prefer to choose altcoins with cheap prices for daily trading. Altcoins have bigger volatility in prices, the price can move significantly only in a day. So, people can have a bigger chance to take enough profits by trading altcoins. Especially those cheap altcoins.