GeorgeJohn
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July 31, 2022, 07:56:10 PM |
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Day trading is profitable, but the question is can you handle the stress? How much knowledge do you have in trading?
Simple trading strategy might not work in long term so better to work on learning how to trade effectively using a different indicators to know the trend. This is not just a simple buy and sell, successful day trader spend their time analyzing the price movement and a real trader will not come into the battle without any strategy.
A day trading is very dangerous and people do get lose in such kind of trading. I believe that people who is into trading vis aware of the risk involve in a day trading. A day trading have two options advantages and disadvantages aspect of it. The advantages aspect of it, is that it comes a time of day trading that any amount you trade with and you will make Profit and the profit come surplus and some times too the lost comes Mega.
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Hamphser
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July 31, 2022, 08:15:19 PM |
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Day trading is profitable, but the question is can you handle the stress? How much knowledge do you have in trading?
Simple trading strategy might not work in long term so better to work on learning how to trade effectively using a different indicators to know the trend. This is not just a simple buy and sell, successful day trader spend their time analyzing the price movement and a real trader will not come into the battle without any strategy.
A day trading is very dangerous and people do get lose in such kind of trading. I believe that people who is into trading vis aware of the risk involve in a day trading. A day trading have two options advantages and disadvantages aspect of it. The advantages aspect of it, is that it comes a time of day trading that any amount you trade with and you will make Profit and the profit come surplus and some times too the lost comes Mega. Whether you are daytrading/swing/scalping there's always a risk involved.It do only differs on the time on where you do spent up on making positions and making decisions whether you do close it out. Yes, its true that this is really something risky and not for everyone kind of trading on which you would really be needing that sufficient experience and skills before you could able to handle day trading. Make yourself a little bit more better with swing trades or trend changing kind of trades before jumping into day trade.You can try yourself and if you do find out yourself that effective then it wont really be a bad consideration on trying to make some switch up but of course this wont be simple as it looks.
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TelolettOm
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July 31, 2022, 09:50:36 PM |
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In my opinion, both day trading and long-term investment can be profitable if: - We understand the science - We want to learn it - We want to be consistent - We have good tips for controlling our emotions because day trading will be very emotional, especially with market conditions that often change drastically very easily. That is why day trading may require more risks, moreover if we are new enough in day trading.
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Slow death
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July 31, 2022, 10:59:48 PM |
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day trading is something that will bring you losses in the long run, I can give you a concrete example using day trading with bitcoin - USDT imagine that today you buy bitcoin at the price of 23,050$ and then sell for 23,500$, but after you sell the price of bitcoin rises to 24,500$, you no longer have 1 BTC = 24,500, you will have 23,500$ and if that continues, it will arrive a time when you will have less bitcoin and consequently less daily profit. The solution is to buy when the price goes down a lot and sell when the price goes up a lot and this can take days, which means you have to trade with a chart of 1h, 4h or more hours so that you can read the price movement of a long term In my opinion, both day trading and long-term investment can be profitable if: - We understand the science - We want to learn it - We want to be consistent - We have good tips for controlling our emotions because day trading will be very emotional, especially with market conditions that often change drastically very easily. That is why day trading may require more risks, moreover if we are new enough in day trading.
In this cryptocurrency market, day trading at the end of the day is a big loss and very stressful, I particularly do not recommend that people day trade. sometimes a person can spend hours on the computer and only make a small profit but when a week goes by, the person looks back and sees that if he had bought and insured more days he would have 10X the profit he had doing day trading
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jakelyson
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July 31, 2022, 11:41:50 PM |
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1 ILV is $119 on my CEX... but the sell price is $116 and the buy price is $123
Doing a simple trade using USDC to buy one ILV token would cost me $10.40 in ETH Fees on EXODUS. If I was doing it from my CEX, it would probably be cheaper, but I'd end up paying just as much ( sometimes way more ) if I want to take my new ILV token and deposit it in a hardware wallet. So either way, even if I buy ILV and it makes me a 15% gain in less than 24 hours, I barely break even ! So how do I make a profit ? Do I need to buy 30 ILV to maximize my gains ? Or is there any other way ?
At least choose a coin that have smaller spread and higher volume so your 15% gain can cover the spread and net good enough profit. If you want to day trade, learn how to do it properly. I believe it is profitable but it takes time to get a good grasp of it. And even then, you can still experience losses from time to time. [...] In this cryptocurrency market, day trading at the end of the day is a big loss and very stressful, I particularly do not recommend that people day trade. sometimes a person can spend hours on the computer and only make a small profit but when a week goes by, the person looks back and sees that if he had bought and insured more days he would have 10X the profit he had doing day trading
It is not a loss of you are making profit from it. You can only call it a loss when you lose money not when you gain. However small your gains are, gains are gains. And day traders does not just make one trade a day. They make multiple trades and take advantage of how volatile crypto is. Those small gains can sum up to big gains if you do it constantly.
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Silberman
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August 01, 2022, 03:17:18 AM |
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In my opinion, both day trading and long-term investment can be profitable if: - We understand the science - We want to learn it - We want to be consistent - We have good tips for controlling our emotions because day trading will be very emotional, especially with market conditions that often change drastically very easily. That is why day trading may require more risks, moreover if we are new enough in day trading.
And most of the time those which are interested in trading the markets do not have any of those characteristics, they are interested only in making money and make it fast, and while that is necessary, otherwise they will not take the time to try to become traders, that is far from being enough, they need to actually be interested in the markets and their movements otherwise they are never going to invest the time necessary and their skills will never progress to the point they can become profitable.
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Mpamaegbu
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August 01, 2022, 06:07:02 PM |
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OP, you should concentrate on cryptos with high trading volumes and volatility if you want to be profitable in addition to learning the set skills for trading. A crypto with high trading volume, will present low commission charges on trades. So, you don't have to be experiencing the type of large gap you find as commission charges when you buy or sell like you do when you trade Illuvium. With its high price level, I believe $8,350,000 24hrs trading volume is way too low. Again, you don't have to keep withdrawing to a remote wallet if you want to live on day trading. Of course, there are legions of traders who live solely on trading. It's as lucrative as becoming a doctor or an engineer. Just have a handle on it and be patient. What kills most trading accounts is impatience.
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Rigon
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August 01, 2022, 06:35:28 PM |
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Although trading seems a risky but still very profitable in trading.Day trading here is definitely risky.But you must make good decisions while trading and never trade with wrong decisions.Trading is like a complete gamble if you make a wrong decision it is very risky for you.And especially if you want to trade on the trading platform, you must be very experienced. If you are not experienced in trading, you will not be able to profit from trading Lose more.
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palle11
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August 02, 2022, 11:17:46 AM |
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There are different clustered comments that are contained here. Although trading seems a risky but still very profitable in trading.Day trading here is definitely risky.But you must make good decisions while trading and never trade with wrong decisions.
Both daily trading and swing or whatever kind is risky as it is profitable too so it is not just daily trading that is risky Trading is like a complete gamble if you make a wrong decision it is very risky for you.And especially if you want to trade on the trading platform, you must be very experienced.
Trading itself is not a gamble but a trader can do a gamble of his capital if he doesn't do the proper thing and if he realise his mistake while the trade is on, he can end the trade and take a smaller loss than losing everything but for gambling if the game has started, you wait for the outcome for lose or profit.
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YOSHIE
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August 02, 2022, 02:42:14 PM |
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I know there's a lot of day traders in stocks, and I've heard some do it in crypto ( although most do it at a loss ) so I'm wondering if realistically you can do a profitable trade in crypto.
Users who trade crypto losses or profits it is one of the nature of fairness and reality for the user himself, speaking realistically, Of course, in the world of trading, not only crypto, to trade in the real world, you must also have an understanding of the situation and the development of markets and goods, the same thing happens in crypto trading, the market, demand, analysis, charts, when to buy and sell is something that must be studied wisely, to make good $$$ value and overcome losses.
But if it refers to the type of crypto Illuvium (ILV), for me ILV is not a coin to trade / day / hour, I think ILV tends to be more directed towards futures trading, it can be seen from the movement of 7days / 30days / 90days and 50 weeks of movement. 7 days ago, ILV traded on Binance for $99 and rose to $123/7days. Since the crypto market is currently in the red and the ILV is trading at $110 on Binance, I think that in order to make a profit one should look at the market developments in the next day or two, maybe ILV can touch the level of $88-$50, maybe it can be sold again 7-15/30 days in the future, to get better results.
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Zanab247
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August 02, 2022, 04:21:20 PM |
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Yes, day trading is profitable for those that understood the system very well in the community because very easy to make a good profits but very easy to reduce someone to zero level in the community. If you don't have knowledge about day trading don't try it because it will make you to see other people that is making it in day trading as if they have another thing they are using just that they have the experience. I will advise you to have more knowledge about day trading before going into it, because the price of the market can remain low through out the week or month which will not help you to make a good profits at the moment.
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NicNacCoin
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August 02, 2022, 04:57:45 PM |
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If you know how to trade, you can profit from day trading.But must trade on good coins and choose good exchange for trading.Let's say you trade with bitcoin, but bitcoin is going up and down from 500 to 1000 dollars if not every day.Here if you understand the signals about trading then you can profit in this place And if you don't have any knowledge about trading then trading why you can't profit even by long time trading.
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Rufsilf
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August 02, 2022, 11:34:04 PM |
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It is always profitable for the others but the question is if you can be like them and manage their trade so well. This is been a question to many and asks if it was but you as a trader could decide and the results certainly depend on you. Because you can just say and think OP that some traders are in huge profit and it does with you also, that was not the case in trading due to we are in different strategies and much more different from decision-making which it changes the results between you and me (as an example).
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Oceat
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August 02, 2022, 11:59:29 PM |
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It is always profitable for the others but the question is if you can be like them and manage their trade so well. This is been a question to many and asks if it was but you as a trader could decide and the results certainly depend on you. Because you can just say and think OP that some traders are in huge profit and it does with you also, that was not the case in trading due to we are in different strategies and much more different from decision-making which it changes the results between you and me (as an example).
Of course, with the market volatility, traders can always make profit from it although it's not as always like everyday due to the high volatility but it is enough. Although, it always depends on someone's capability on how or what kind of strategy they were using to make a profit and I would say most of the time they choose Bitcoin over other altcoins although some of them do trade some altcoins.
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GreatArkansas
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August 03, 2022, 12:03:02 AM |
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Day trading is profitable or any form or way how to trade, you just must train yourself to be a good trader, like you have risk management, have good emotions and you will be a good trader. You must train yourself first at the start, you will identify where is your forte, if you are dedicated to day trading then it's for you. Learn the basics first.
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Pandu Geddon
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August 03, 2022, 12:43:27 AM |
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Day trading is profitable or any form or way how to trade, you just must train yourself to be a good trader, like you have risk management, have good emotions and you will be a good trader. You must train yourself first at the start, you will identify where is your forte, if you are dedicated to day trading then it's for you. Learn the basics first.
now there are many literacy and tools to help us in seeking profit in daily trading. I think it takes time for us to learn all that. Unfortunately, not many newbie traders are aware of that. most just follow the hype they hear. and accidentally get an advantage, of course, it makes their confidence increase. without studying the market, they end up mostly using their estimates to determine the assets they will trade.
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gunhell16
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August 03, 2022, 12:45:31 AM |
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I know there's a lot of day traders in stocks, and I've heard some do it in crypto ( although most do it at a loss ) so I'm wondering if realistically you can do a profitable trade in crypto.
Let's take a real example.
In this mini rally we're having, I've noticed Illuvium is one of the few tokens that is in the red( less than 1% on the daily when this was posted )
1 ILV is $119 on my CEX... but the sell price is $116 and the buy price is $123
Doing a simple trade using USDC to buy one ILV token would cost me $10.40 in ETH Fees on EXODUS. If I was doing it from my CEX, it would probably be cheaper, but I'd end up paying just as much ( sometimes way more ) if I want to take my new ILV token and deposit it in a hardware wallet. So either way, even if I buy ILV and it makes me a 15% gain in less than 24 hours, I barely break even ! So how do I make a profit ? Do I need to buy 30 ILV to maximize my gains ? Or is there any other way ?
The desire to make money in crypto trading every day only happens if you have enough knowledge about it, you can't make money in it everyday if you just depend on luck because it's not designed there. Let's assume that you earn 15% daily in crypto trading although this is quite high and difficult for an ordinary individual trader to do here in the crypto space. Maybe it's better not to withdraw your income right away or you'll earn it in one day, instead accumulate it for a few days depending on what you want, so you won't regret the transaction fee that will be deducted. Now, whatever your reason is why you chose ILV to trade, it's always your choice and we don't care about that. Because I believe that crypto trading is really profitabl if you have enough knowledge about it. And there are many who believe in this and there are also many who lose in the end that is also the reality of crypto trading, whether stock or crypto trading is the same, there is a risk that comes with it. Day trading is the most difficult type of trading of all, the most risky, the most stressful and quickly leading to the loss of the entire deposit. And if we are talking about day trading with altcoins or margin trading, then multiply my words several times more. Trading is not a profitable behavior model and therefore this activity cannot be profitable (for 95% of traders). And what is the point of trading altcoins? It's like trying to drive a car from the passenger seat: inefficient, dangerous, inconvenient, and doesn't unlock the potential of your car. The best thing you can do with altcoins is investing, with different periods of profit. All this trading will take you not only a lot of time, but also money.
I just want to add something, you just mentioned driving a car, I also want you to know that if you are a driver you know all the responsibilities in terms of knowing how to fix if your car has a problem no matter what this is an issue, and you also know all the regularity and policy in traffic and the safety of the people riding in your car can tell if you can get to the destination you are going to properly, as well as in the practice of crypto trading that you want to get I see you here every day. You should also know what to do when to buy and sell at the right time and opportunity, and you also have an idea of how to read the graph correctly and other things like that.
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LastKiss
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August 03, 2022, 01:47:50 AM |
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~snip~ So how do I make a profit ? Do I need to buy 30 ILV to maximize my gains ? Or is there any other way ?
Using small capital when you do day trading is not that profitable due to the fees that you need to pay. Doing arbitrage is also the same, if you want to buy in the CEX and sell it in the DEX with small capital it's not that profitable tho. Just trading in one platform and don't force yourself to do day trading, as long as you can take profit in a few days or in a week it doesn't matter as long as there is some progress.
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Strongkored
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August 03, 2022, 01:56:52 AM |
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I think day trading is very suitable during bullish market conditions because in such conditions the market is very active and the trading volume is very high, but if ywant to do it on altcoins then the altcoin must have high trading volume but be careful because can get stuck at high prices if do it in altcoins so that it ends up in the holder or sells at a loss
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Fredomago
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August 03, 2022, 02:08:30 AM |
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I think day trading is very suitable during bullish market conditions because in such conditions the market is very active and the trading volume is very high, but if ywant to do it on altcoins then the altcoin must have high trading volume but be careful because can get stuck at high prices if do it in altcoins so that it ends up in the holder or sells at a loss
In an active type of coin day trading is potentially be profitable, you need though to master the market sentiments and all the possible influences that may affect the asset to move, not easy but once you already know the strategy or when you already establish a good system that will work in any types of market movements, you'll be aware on how to sort then pick suitable coin for your day trade business. Day trade inside crypto, if you understand well the volatility of the market will favor you, scalping is good with high volume market4 every movement can bring decent, especially if you really have a decent amount of invested capital.
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