Can Day Trading be profitable in Crypto ?

[Rengga Jati]

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I don't know people who can do scalping for a long time. This is too complicated and my experience tells me that medium or long term trading will always bring the best results. Day trading is too tiring, because of this I make a lot of mistakes and as a result I lose money. In medium term trading it is easier to follow trends and it works better for me.

Exactly, day-trading is very tiring and risky. If we are really not ready with all things related to day trading such as financial management, emotion, health, and others, we may be stressed, too tired, sick, and other bad conditions.
But, if those people have been very usual doing the day trading, with their effective ways, they are really working on it and making much money from day trading. But of course, they are professional enough and they commonly have been learning much to overcome with the market sitation in all conditions.
This is exactly not easy to deal with day trading. I personally will not choose day trading, better for short-term or long-term investment. I tried day trading but only no more than a month I gave up because of too tiring condition.

[CPNpr]

I think short term tat is very good because short term idiot never face big shame and if I do long term treat then I will profit from here there is possibility of risk I like it a lot and what advice while chatting  giving

[Ben Barubal]

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 ?

Perhaps for those who have been in the cryptocurrency industry for a long time, this method is effective if you have enough knowledge to carry out regular activities in the actual trade of crypto.

However, for those like me who are a beginner and do not have enough knowledge, the capital that I will use here in cryptocurrency will probably be lost and lost very quickly. I also know that it is not that simple and easy to immediately know the correct way of trading in this industry.

[Sweetbtc]

Try to choose a better exchange and coin, if I am not wrong you are being charged a lot of fees. That's the problem you are not getting profit. Try to use Binance if possible, there will be good volume and there will not be more gaps in the prices. Then you may get profit by day trading.

[CapGelatik]

daily trading can get a lot of profit, but indeed we as traders must be careful in analyzing the market,
because indeed in futures trading we should not be careless,
stop losses must also be installed if you do not want to be exposed to liquidation.

[Fredomago]

In this market most of the time experienced is what we are basing our decision-making, though patterns are available but most traders especially those who are in daily scalping, they are monitoring the movement and they understand that fluctuations might happen, and they all set both buying and selling position according to how they are following the patterns/strategy that they mostly used.

I don't know people who can do scalping for a long time. This is too complicated and my experience tells me that medium or long term trading will always bring the best results. Day trading is too tiring, because of this I make a lot of mistakes and as a result I lose money. In medium term trading it is easier to follow trends and it works better for me.

not all traders are able to successfully do daily scalping, most end up with big losses...

I am also not very able to follow the daily trend because of the many activities in the real world that take up my time so I am very happy with medium-term trading (I trade between 2 weeks to 3 weeks). a friend told me that if you don't want to lose in trading then avoid day trading.

Not all indeed, and you are also right that most are only losing money when doing scalp trading though there are still people who work in this kind of strategy, but with that high fluctuation that you need to work from day to day it's really something that consume more of your time and worse it pollutes you with a lot of "what if" when making a mistake or choosing the wrong position when doing your trade.

Any kind of trading is profitable as long as you know your stuff, you can't earn profits if you're just a self proclaimed trader. Day trading is complicated, it's not even close to what you've said OP, I think the one you've explained was just simply a buy low sell high process. Day trading is a day trade, obviously, meaning you're selling the coins you bought in that day based on your technical analysis, which must be really accurate to gain profits.

If we are a newbie then we better start on the basic form of trading and I think that isn't day trading but day trading can be difficult and will fit for advanced users already. For an experienced trader, any kinds of trading is going to be easy for them understand but they'll probably go on the hard and risky one because the returns can be a little better.

Day trading or trading is not only profitable but I think it is the most profitable activity here in crypto as when compared to investing and others, it is because it is fast and you can add more volumes to your trade but of course you can also lose fast if you are not lucky or skillful enough.

Basic understanding give you good position when doing your trade, short or daily trading can be execute if you have that basic understanding with both risk and gained rewards, if you are willing to take your shot the call is always yours, your money means it's all on your responsibilities.

[BobK71]

daily trading can get a lot of profit, but indeed we as traders must be careful in analyzing the market,
because indeed in futures trading we should not be careless,
stop losses must also be installed if you do not want to be exposed to liquidation.

Day trading can be good for those who stay up to date about the market. Those who have good knowledge about trading. There is a big difference between spot trading and futures trading. Those who have spent a long time in the trading world and those who have a lot of wealth will not have any problem with futures trading. However, this can be a bigger problem for ordinary investors. Cryptocurrency trading is risky but futures trading is even more risky investment.

[andriarto]

Any kind of trading is profitable as long as you know your stuff, you can't earn profits if you're just a self proclaimed trader. Day trading is complicated, it's not even close to what you've said OP, I think the one you've explained was just simply a buy low sell high process. Day trading is a day trade, obviously, meaning you're selling the coins you bought in that day based on your technical analysis, which must be really accurate to gain profits.

I also think it is less profitable. day trading means we trade every day, and have to see the results at that time, or maybe some time after that, whether it's a loss or not. I feel that this only makes us panic, and rush. what is profitable from trading is taking profit when you have earned it, be it in 1 day, or even in months.
daily trading, can be profitable, or not, depending on what coin you have, and the market conditions for that coin. Personally, I prefer long term trading.

day trading will be profitable for those who are already pro, because they will get profit every day like we work daily. but for beginners or people who don't fully understand it, it will backfire, because it's not a profit but a loss due to a cut loss, or even a transaction that we do becomes a long-term trade because we hold on to it for fear of losing and afraid that it will come. Suddenly the market reverses direction. things like this are the beginning of the chaos of our common sense in the market

[deathcode]

day trading will be profitable for those who are already pro, because they will get profit every day like we work daily. but for beginners or people who don't fully understand it, it will backfire, because it's not a profit but a loss due to a cut loss, or even a transaction that we do becomes a long-term trade because we hold on to it for fear of losing and afraid that it will come. Suddenly the market reverses direction. things like this are the beginning of the chaos of our common sense in the market

therefore it is important to learn and understand trading first before doing it. After learning and starting to understand the principles of trading in the crypto market, trying to gain experience is also important. no need to be afraid of losing, because we have learned and have the knowledge, and we can practice what we know.
trading ability will increase if we trade frequently. of course, those who are already pros can know how to profit in the market. But that doesn't mean pro traders won't lose either. because the market has always kept a mystery for traders.

[dothebeats]

Any kind of trading is profitable as long as you know your stuff, you can't earn profits if you're just a self proclaimed trader. Day trading is complicated, it's not even close to what you've said OP, I think the one you've explained was just simply a buy low sell high process. Day trading is a day trade, obviously, meaning you're selling the coins you bought in that day based on your technical analysis, which must be really accurate to gain profits.

I am recently exploring copy trading on bybit and so far it has given me positive profits for over a week now. I know my way around trading and I know some of my stuff, but this autopilot copytrading is somewhat giving me more money than I can do for myself. It eliminates the need for the intricate planning and all those boring stuff but still gives you a decent profit depending on your capital. Of course, you would need to follow a trader that has a proven track record on his trades and just copy whatever they are doing and you're golden.

[pgbit]

Yes there are two ways of trading, one is spot trading and the other is future trading. You can go to any good exchange and do day trading, for example, take Binance Exchange. Fluctuation of any currency is very important in day trading And the price Fluctuation is very important. In addition, the volume in the coin is high. In day trading, you can earn more profit in a short time. When the price of the coin goes up, sell it as soon as it comes down, buy it again.  Thus, when bought and sold in multiple fluctuations, it can make the best daily earnings, but the condition is that the coin is chosen correctly.Thus, day trading can be very profitable for every trader.

[Dragonfund]

Yes there are two ways of trading, one is spot trading and the other is future trading. You can go to any good exchange and do day trading, for example, take Binance Exchange. Fluctuation of any currency is very important in day trading And the price Fluctuation is very important. In addition, the volume in the coin is high. In day trading, you can earn more profit in a short time. When the price of the coin goes up, sell it as soon as it comes down, buy it again.  Thus, when bought and sold in multiple fluctuations, it can make the best daily earnings, but the condition is that the coin is chosen correctly.Thus, day trading can be very profitable for every trader.

I wouldn't advise anyone to go into future trading, it is just as if you are putting your hands into the lion's den which is ready to be bitten very soon. Future trading will make you lose most of the time if you try it, it is better you stay with spot trading and earn some decent profits as you have said but it is not fluctuations that are important in trading but volatility. When a coin is having volatility, is good when you are making profits but can also be dangerous when you are on loss, so you have to take precautions into consideration whenever you experience them during trading and do not forget to do risk management.