Can Day Trading be profitable in Crypto ?

[worle1bm]

For me personally you need to have some trading skills and keep an eye on market every time to figure out your next move if you are day trader and it's more risky so for me only long term holding is best.But yes day traders make profits and loss both but it depends on various factors like choice of coins, market sentiment and any news coming out that can affect the price and you need to study the candlestick patterns as well so it's more of brain work that you have to do making decisions.

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[tazmantasik]

Daily trading is worth and get profit depend how smart and active checking with coin have drastically pump and dump every day, but not easy when watching thousand kinds of altcoin because several of us active trade and watch with 30 coin kinds. Personally I make bookmarked with ten coins only and make me easy controlling about which one coin have to trade, keep not guarantee I can earn profit in daily day with trade cryptocurrency, some time about two or three days later after my entry earn profit.

[traderethereum]

Day trading can work in this situation in which the price is always changing every day so you have the opportunity to buy low and sell high.
If you can analyze it better, you can make a profit from this current situation while you are still waiting for the next bull run.
Besides that, if you can buy low for bitcoin or potential altcoin, the price can jump so high that you can expect to make a bigger profit.
But if you think you can not analyze when the price reaches the low price, you can just buy and hold it.

[Natalim]

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

Yes, and we can't deny that many people will enter trading during that time for they are aware the situation that prices keep on growing and earning a profit isn't hard and it never takes so long. But if you dare to try it during the bear season, that is certainly a big test of your capability to control your emotions and patience, and sometimes we end up losing at the end of the day. This is the reason why many traders had just held instead of doing trading as a safe escaped.

[CryptoHeadlineNews]

Let's just take it this way. Day trading is profitable if you're good at it and manage to have those decisions right if you're into spot trading. Also in futures, there are people making money there but it's not easy because they've studied very well on it and invested money just to lose in return for the lesson that they'll get. But setting aside those stories, the majority are losing more money in trading and that's the reality that has to be recognized by many.

And day trading is also very profitable when you trade with huge capital most especially "Spot", because I have once trade it and the profits wasn't that much since it wasn't a huge capital, but at least reasonable enough trading USDT with my native Nigerian Naira Fiat currency, with a few minutes price difference selling and buying. And for me Binance seems to be okay for day trading, but actually I have not used the rest, but hopeing to try them some other day

[rozak]

Let's just take it this way. Day trading is profitable if you're good at it and manage to have those decisions right if you're into spot trading. Also in futures, there are people making money there but it's not easy because they've studied very well on it and invested money just to lose in return for the lesson that they'll get. But setting aside those stories, the majority are losing more money in trading and that's the reality that has to be recognized by many.

And day trading is also very profitable when you trade with huge capital most especially "Spot", because I have once trade it and the profits wasn't that much since it wasn't a huge capital, but at least reasonable enough trading USDT with my native Nigerian Naira Fiat currency, with a few minutes price difference selling and buying. And for me Binance seems to be okay for day trading, but actually I have not used the rest, but hopeing to try them some other day

day trading is very profitable for those who can choose the right asset to trade. like your experience trading USDT with your fiat currency. because there is an opportunity there and you can take advantage of it.
trading is not only profitable BTC, the results obtained depend on how good our skills are and the capital we use. most importantly too, we must have skills for day trading.

[justdimin]

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.

You could consider trading bitcoin up and down a grand, but that doesn't mean that it would be profitable to keep doing that forever. It's a small amount of profit based on what the moves are and you have to be on the right side majority of the year to make a good profit.

If you do right moves for 250+ days a year and only make bad ones for about 100, then you would be fine, but are you really trusting yourself to make that much profit that many days a year? I personally feel like it would be smarter to just invest, and wait for it to go up because if it goes up double, that is more than enough for me. Imagine if you could double your profit many years in a row, that makes you a millionaire in no time.

[smartaction]

Day trading is profitable If you can do it in right way. if you start trading with $1k then it will easy to earn $20-50 everyday by day trading. But in this case you have to control your greed. Never get excited.  Daily trade should be completed with a cool mind. then you will able to achieve your daily target.

[doomloop]

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.

Any types of trading actually. Short, mid, long, day or night, all can be profitable depending on your skills and if it's not profitable then it will have a bad reputation and will be avoided or won't be popular as it is now.

Usdc are from eth, I think that causes you to pay more in the fees but why not use other stable coins which has a cheap fee like usdt since it also supports trc20 chains or you can also use from binance which is called busd and maybe the fees can also depend on the exchange that you are using but I won't sacrifice it over the quality or the reputation of the exchange as you can lose more money the more you look for a bargain.

[stomachgrowls]

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.

If you think that successful day trading is based only on when to buy and sell correctly, and to read the chart correctly, then I have bad news for you. There may be 100% of people in the world who can read a chart and only 3-5% earn on it. Why? Yes, because understanding the market and reading charts alone is not enough for trading. Trading is a combination of factors, including such aspects as reading charts, strategy, psychology, risk management and your deposit, trading plan. Until you put it all together in one fully working mechanism, charts and price movements will not help you.

You should include emotional aspect and proper risk management on which these things are one of the most important thing to consider on before you would find yourself to be that effective on trading.

Doesnt matter if you do involved yourself with spot or daytrade as long you do find yourself to be in constant or ending up profitable then consider yourself to be a good trader.

Of course day trading could be profitable but this isnt for everybody because you would really need to acquire such skill and experience for you to at least have that kind of chances.

[rby]

Day trading is profitable If you can do it in right way. if you start trading with $1k then it will easy to earn $20-50 everyday by day trading. But in this case you have to control your greed. Never get excited.  Daily trade should be completed with a cool mind. then you will able to achieve your daily target.

Capital is a very huge determinant of success in trading. It doesn't mean that other factors don't count. I have seen some guys who are good in knowing chart movements and trading but they lack capital. But no matter how confident they are that they understand the market, it is always difficult for them to borrow money to trade because things might turn thr other way round. So it is good to know trading skill and also important to have good start up capital.

[Silberman]

Day trading is profitable If you can do it in right way. if you start trading with $1k then it will easy to earn $20-50 everyday by day trading. But in this case you have to control your greed. Never get excited.  Daily trade should be completed with a cool mind. then you will able to achieve your daily target.

Capital is a very huge determinant of success in trading. It doesn't mean that other factors don't count. I have seen some guys who are good in knowing chart movements and trading but they lack capital. But no matter how confident they are that they understand the market, it is always difficult for them to borrow money to trade because things might turn thr other way round. So it is good to know trading skill and also important to have good start up capital.

Both knowledge and money are necessary to make good profits from the markets,  for example if two different persons both had the same knowledge and skill to trade the markets and both made the same trades and obtained on average 1% on profits with each one of their trades, but one trader had 500 dollars and the other 1 million the first trader would make 5 dollars per trade while the second trader will make 10k per trade which is a massive difference on their outcomes despite both of them having the same skills.

[gabbie2010]

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.

Experience matter most when it comes to trading crypto, day trading isn't easy at all, it requires vast skills, full concentration and attention, avoidance of greediness and risk taking, crypto price movement is highly volatile, if the price goes in a wrong direction while trading without a Stop Loss it will definitely end in liquidation of the account recall during the days of massive dumping of the price a lot of traders account got liquidated due to the high volatility of the prices of cryptocurrencies, even trading with a Stop Loss requires a wide SL else price might hit it if the SL is small before heading to the intending direction.

[tazmantasik]

Both knowledge and money are necessary to make good profits from the markets,  for example if two different persons both had the same knowledge and skill to trade the markets and both made the same trades and obtained on average 1% on profits with each one of their trades, but one trader had 500 dollars and the other 1 million the first trader would make 5 dollars per trade while the second trader will make 10k per trade which is a massive difference on their outcomes despite both of them having the same skills.

Have skill and knowledge but without have money for trading looks nothing because can't earn profit, exactly true what did you compare although have good skill and knowledge when tracking what kinds coin for trading but $500 fund for investing just earn small profit. Different with trader or investor have much money for investing and ability earn much profit, need knowledge and much money how to be success in cryptocurrency trading, without both of thing looks not easy for earn profit.

[Peanutswar]

Day trading is the most ideal mostly a long-term kind of trade because you will set the time frame into a higher time so you can wait for almost half a day or whole day with the signal if you are a busy person you can do it but also you have an option for a day trading. But for me, I do a lot of things to make myself ready to commit a trade so I can execute easily the task or position easily, trading will become profitable depends on the persons capability to trade and not just get pressure because they need to make a trade daily. Of course money must need to consider make a trade you afford to lose.

[Kelvinid]

Generally, that certainly matters to you OP as a trader. You can't just think it was profitable or not unless you have tried because if I say it was possible that can be different on your end. Let us say that I earn $1000 a day, not it means that you can also earn the same or even more. That is why if you have been trading now, I encourage you to do day trading (if not) just to know if this will work for you because I tell you that not all that has been in day trading succeed, some go back to spot trading.

[goldkingcoiner]

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 ?

Daytrading could be profitable in crypto but it really depends on the kind of daytrading we are talking about. If you mean trading with derivatives, then you're almost definitely going to lose all your money. Without a doubt. And if you trade altcoin derivatives then the process is only going to be much faster because altcoins are usually low market cap and have high speculative volatility.

But if we are talking about spot daytrading, the best advice I can give you is not to trade below daily. You will grind through your coin with the trading fees.

[sana54210]

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

Yes, and we can't deny that many people will enter trading during that time for they are aware the situation that prices keep on growing and earning a profit isn't hard and it never takes so long. But if you dare to try it during the bear season, that is certainly a big test of your capability to control your emotions and patience, and sometimes we end up losing at the end of the day. This is the reason why many traders had just held instead of doing trading as a safe escaped.

Bear period trading is actually even easier, because you know where it is going and when it is going down "how much" doesn't matter, it's a loss and nobody likes a loss. You may be happy about making a 10% profit on something that went up 20%, but nobody is happy if they lost only 10% when they could have lost 20%, it is not enough, it is still a loss. This is why I highly doubt that it would make sense for anyone to make the same kind of mistake by thinking bear is a bad period to trade.

It's definitely hard, but all those small spikes allow people to make a good return and that matters, we shouldn't be really focusing on potential losses, many people lose, that's where you earn.

[ShowOff]

As other users have said, you may be able to take advantage of day trading if you know how to do it. My experience says it will be profitable, but you don't have to be greedy to do it every day by forcing yourself to pick random assets to trade.

It doesn't have to be every day if you really want to profit from day trading, just take some time and learn about market fluctuations and how the market works for certain cryptocurrencies because there will be good opportunities to make a profit. 15% the profit is too high in my opinion in a day, you will rarely find it except on altcoins which have high market hype but of course the risk is big.

[Stella Mese]

I think we can, as long as we are good at analyzing and predicting cryptocurrencies. Of course analyzing is not an easy thing, because analyzing and predicting it requires serious learning, but of course there are many ways so that we can be smart in predicting and analyzing, of course we can learn online or offline. but sometimes crypto trading knowledge is obtained from experience, even very many people are smart in crypto trading because of their experience in crypto.