How Would you Describe Yourself As A Day Trader?

[ethereumhunter]

In such case where you are stucked in loses and you are sure it is no longer favourable for you staying there, I think exiting will also be fine to help you save some capital instead of allowing it to run out to your stop loss. If I get trapped sometimes I use such escape and wait for the next right move or otherwise stay out till the next day as a day trader.

Exiting the market when trapped will be fine if we are not provoked to sell coins in a state of loss. I have often been trapped in such a situation and did nothing just came out of the market. And after waiting for a while, it turns out the price can increase again and even some coins can increase high, which allows me to produce additional profits from the price I targeted. According to my friend's advice, trading should not be in a hurry so that we do not panic and remain calm, watching the course of the market.

I thought we are trapped already so how can we able to escape? But if ever we got trapped and we are starting to lose our money, we will be provoked and we will sell our coins even at a loss which is wrong, the right way to act is to just stay calm because the price might still recover but as long as we picked up a good coin and not a pumped and dumped one.

Your friend is right. Not just on trading actually but in everything that we do, we only need to be calm so that we can perform the task better than compared to when we are rushing because mistakes can often come there. We should always remember that life is not a competition and slow and steady are the ones who can win the race.

Yes, some of us have been trapped and suffered losses but if they still hold their coins calmly and don't panic, they still have a chance to sell at high prices later. Hopefully, they can still be patient, waiting for the price to increase so they can sell it at the peak price.

That's why I always try to stay calm no matter the circumstances so I can keep analyzing properly and not be provoked by negative news from out there. Trading requires a lot of things to be profitable and is not easy. But by continuing to try to learn to develop ourselves, I think we will succeed.

[redsun114]

I don't actually do day trading much, but when I do, I'd probably label myself as being risk-averse. Probably because I mostly would purchase coins that have a significant trust within the industry and that would give me a more guaranteed though less profit instead of choosing high-profit potential coins with higher risks.

I believe that it's better to have less profit rather than to risk your total capital or a portion of it for better gains. It's also too worrisome when you trade a token that has high risks of dropping rather than pumping, and I don't like being in that situation at all.

[rendravolt]

I don't actually do day trading much, but when I do, I'd probably label myself as being risk-averse. Probably because I mostly would purchase coins that have a significant trust within the industry and that would give me a more guaranteed though less profit instead of choosing high-profit potential coins with higher risks.

I believe that it's better to have less profit rather than to risk your total capital or a portion of it for better gains. It's also too worrisome when you trade a token that has high risks of dropping rather than pumping, and I don't like being in that situation at all.

A wise decision from you, I think the option of buying a coin that has credibility and has a clear ecosystem can provide a guarantee that is safe and very profitable, but it's true that the profit is not much, but at least our assets will be safe for a long time. I also avoid trading on shitcoins because the risk level is so high and it rarely ends up being a scam. Things like that we should be aware of when trading in order to avoid something we don't want.

[SquallLeonhart]

some of us have been trapped and suffered losses but if they still hold their coins calmly and don't panic, they still have a chance to sell at high prices later. Hopefully, they can still be patient, waiting for the price to increase so they can sell it at the peak price.

That's why I always try to stay calm no matter the circumstances so I can keep analyzing properly and not be provoked by negative news from out there. Trading requires a lot of things to be profitable and is not easy. But by continuing to try to learn to develop ourselves, I think we will succeed.

I agree that patience is the key right now to our future success. People who bought when it was higher, could buy right now to lower their average and they could wait a bit more for the price to go above their purchasing average in order to make a profit. I have done this so far, and I am profiting very well, it's really not that hard to do it because all that is required of you is to be patient about the price.

I know it looks not so great right now compared to what it has been, but it also looks better compared to last year as well so you should be happy about the potential at least, it's on the way up and that's a very good thing for all the people who are waiting.

[Franctoshi]

Day trading can be stressful and as well be less stressful in terms of doing market analysis, the stress of going to smaller time frame in order to see opportunity in the market for day is another thing, because you don't only rely on the Bigger time frames to profit, in the order hands can make you money within the shortest period of time, if you have good understanding of the market.

One of the best way to profit as a day trader is during when there's volatility in the market, basically during the London and New York market session, that is when most banks are actively in the market.

[jossiel]

It's been so long since I stopped day trading. Actually, it was like a dream to me when I've heard and seen people do the thing but when I've done the actual.

That hit me the reality that it's not easy as what I'm thinking. It will require you to continually learn a lot of things and not just about charts and the market but even you need to spot on the trends and news related to it.

It entails a lot of things that needed to be known even for the basic but it's not deep if you started there. Although I can pursue it again but maybe sometime in the future but not for now.

[GreatArkansas]

Day trading involves risks, and every day trader knows that they need to have a level of risk tolerance. While risk-seeking day traders can take on massive risks in the pursuit of huge profits, risk-averse day traders seek to reduce the amount of risk they would encounter. As a day trader, how would you describe yourself? Are you risk-seeking or risk-averse?
(.....)

I can consider myself a day trader also because I do trades with this kind of timespan.
Being a day trader, it's difficult because from time to time you really need to watch or observe the price action, and through that, you will able to analyze the market.
The risk here for me still depends, based on your risk management and/or risk:reward ratio.

[jeraldskie11]

I believe that it's better to have less profit rather than to risk your total capital or a portion of it for better gains. It's also too worrisome when you trade a token that has high risks of dropping rather than pumping, and I don't like being in that situation at all.

You and I both agree. Profit is profit, and progress is still progress. Regardless of how little you gain, at least you are not losing a lot. Being consistent and disciplined still qualifies you as a successful trader. Even if you trade consistently, you can still have losses that are not enough to offset your gains. When the price returns to your entry price and hits the stop loss, being greedy and pursuing the maximum reward will just hurt your emotions. You can take partial if you can see that you are profiting in your existing position so that you will only make breakeven if ever the price goes back to your entry price. Your capital must be protected at all costs.

[ethereumhunter]

some of us have been trapped and suffered losses but if they still hold their coins calmly and don't panic, they still have a chance to sell at high prices later. Hopefully, they can still be patient, waiting for the price to increase so they can sell it at the peak price.

That's why I always try to stay calm no matter the circumstances so I can keep analyzing properly and not be provoked by negative news from out there. Trading requires a lot of things to be profitable and is not easy. But by continuing to try to learn to develop ourselves, I think we will succeed.

I agree that patience is the key right now to our future success. People who bought when it was higher, could buy right now to lower their average and they could wait a bit more for the price to go above their purchasing average in order to make a profit. I have done this so far, and I am profiting very well, it's really not that hard to do it because all that is required of you is to be patient about the price.

I know it looks not so great right now compared to what it has been, but it also looks better compared to last year as well so you should be happy about the potential at least, it's on the way up and that's a very good thing for all the people who are waiting.

You have given a great example for all of us by buying now when the price is dropping because this can give us an advantage in the future. Of course, the coins we buy are potential coins that can really increase in the future. And yes, only by being patient and waiting for the price to start increasing that we can do and, at this time, we can do other things so that our minds will not be too affected by price changes that occur.

While that doesn't look very good, it's not necessarily a bad thing because at least, by buying at the current price, we can see the price go up. And when the price goes up, we can sell it and take the profit.

[blockman]

You and I both agree. Profit is profit, and progress is still progress. Regardless of how little you gain, at least you are not losing a lot. Being consistent and disciplined still qualifies you as a successful trader. Even if you trade consistently, you can still have losses that are not enough to offset your gains. When the price returns to your entry price and hits the stop loss, being greedy and pursuing the maximum reward will just hurt your emotions. You can take partial if you can see that you are profiting in your existing position so that you will only make breakeven if ever the price goes back to your entry price. Your capital must be protected at all costs.

Little progress might be noticed too late but I agree that it's still a progress. Being a day trader, there's only one goal and that's to profit no matter how much it would be.
Capital is also dependent on your situation, if you're a great day trader, the bigger the capital you've got, the longer you'll survive in the market.
Those that are more in risk taking, they're playing with the futures and leveraging as much as they can but the higher, of course, they'll be liquidated too quick.
Losses can't be avoided but we can minimize it, when someone day trades, it's anticipated that there will be like a minimum 5% of cut loss or even 10% and the rest will depend on risk appetite of the trader.

[gabbie2010]

I only do day trading when the market is stable, and you can predict it easily. Given the situation right now on the market, I won't make any day trades. I try to avoid high loses. Now the market is unstable, and I don't have much knowledge to survive in this. So for now it will choose to stop and wait for the right time.
For now, I am just HODLing. Will start as soon as the market picks up a steady flow.

My trading strategy is based on day trading I do early morning analysis to plan and pick potential trading setups ahead and wait till such a setup is actualized and pull the trigger for long or short and take profit after the price had move in my direction as well as putting a Stop Loss should the price move against my intended direction, meanwhile I don't like Swing trading where I will enter a trade that might last many days maybe this type of trading is for spot traders who has huge funds for trading, personally I don't have a big capital for trading that is why I sticked with Cross margin trading.

[BITCOIN4X]

When you trade expecting profits in a short span of time, then you are a day trader. I wouldn't describe myself as a day trader, this is more likely because I don't expect short term gains for example in daily ranges. Besides that I don't do it, I'm also not really interested in day trading. I tend to invest for a certain period of time, for example for 20% profit from each period.

[Mauser]

Day trading involves risks, and every day trader knows that they need to have a level of risk tolerance. While risk-seeking day traders can take on massive risks in the pursuit of huge profits, risk-averse day traders seek to reduce the amount of risk they would encounter. As a day trader, how would you describe yourself? Are you risk-seeking or risk-averse?

It's been a long time since I did some day trading, I used to do day trading with stocks, futures and cryptos. With stocks I was the most successful, with futures I only lost money and with cryptos I made some small gains. In the end the time and stress I put into trading didn't justify the mediocre returns. When comparing trading returns I always looked at the basic Hodl strategy to see if I outperform the market. It wasn't really worth it paying so much in transaction cost for only small gain. That is why I switched to a more long-term trading approach. Overall I would say that day traders are more risk averse, because they close out all their positions overnight, they don't want to take the risk of the asset for a long time.

[Woodie]

I like to see how am making or losing money and day trading is the best choice unlike swing trading which needs you to hold for a long time and just to manage your risk also demands that you have large stop losses just to accommodate price incase it comes back for a retest.

Honestly if it's not scalping it has to be day trading, unless your schedule is so busy and you won't have the time to see what markets are doing go for swing trades, place trade and forget.

[KingsDen]

I used to be committed in trading and learning how to trade but as I was not getting a good result and I was not learning as fast as I wished. I decided to turn the trade into something that looks like gambling.

Instead of me going to gamble in sports or other related gambling. I will open my binance account and begin to speculate on coins that are making movements and gamble on them.

Sometimes I will make some profit but sometimes the market will dump on me and I will allow it for some days for it to reverse. I could be so unlucky that it has to take a very long time before it will reverse or it never reverses. That is how my day trading experience is.

[tjtonmoy]

My trading strategy is based on day trading I do early morning analysis to plan and pick potential trading setups ahead and wait till such a setup is actualized and pull the trigger for long or short and take profit after the price had move in my direction as well as putting a Stop Loss should the price move against my intended direction, meanwhile I don't like Swing trading where I will enter a trade that might last many days maybe this type of trading is for spot traders who has huge funds for trading, personally I don't have a big capital for trading that is why I sticked with Cross margin trading.

Well, as they say, no risk, no gain. For a day trader to earn a good amount of profit, cross margin is the best option, but also the riskiest. But we don't have much choice, do we?
With small amount of assets, there's not much gain in spot, as you mentioned. But as I said earlier, I try to avoid risks, so my strategy is to enter when the market is somewhat predictable. This sudden dump today could have lost me a good amount. And not having advance deep knowledge, I can't trade in this kind of market conditions. Stop loss is a great thing to have, but if I continue on making the same mistake over and over, then I will be left with nothing. So I will wait for my moment.

[Jatiluhung]

being a day trader may be difficult for some people (including me). because the first thing we have to know is that a day trader must monitor market movements continuously. so a day trader must be someone who really has free time and most of them don't have jobs that bind their time. so they have a lot of time to continue to monitor price movements in the market.

my friend is also a day trader. he spends every day repeating buying and selling in short periods of time. and he has discipline in determining profit targets and loss targets. so as to minimize the risk taken. it looks easy. he takes a piecemeal profit from every movement up and down the price of an asset being traded. And in fact it uses a large enough capital. so that getting a profit of 0.5-1% every time you take a fixed position makes it get the maximum profit. but when i try it turns out i still can't do it. I am mentally too weak to enter in day trading and my insight in doing analysis is still not good enough. so I avoid this type of trading. because the time I have is also very limited because I have another job that limits my time.

[lionheart78]

Are you risk-seeking or risk-averse?

I do both, there are times when I seek risk especially when the possible return outweighs the risk involved.  Like some new project that has the potential of mooning.  I also invest in some project that was dumped hard but the developer is still around.  I also do day trade on this kind of market(since it is my habit of day trading part of my holding to increase my holdings) especially when I see the gap between the buy support and sell wall is too wide, I love to take advantage of the difference and profit from it.

No pain no gain, that is what I always believe, and risk is always involved if we want to hit that one-time big-time thing.

[wxa7115]

Day trading is the act of buying and selling cryptocurrencies within a single day in order to make short-term profits. There is a significant amount of risk involved. As a matter of fact, day traders are akin to tightrope walkers. These individuals must be able to deal with high trading costs, a volatile market, regulatory risks, and other unpredictability. In spite of these, I see that there are a lot of people who still want to go into day trading. For these people, they put in the time and effort into learning it.

Day trading involves risks, and every day trader knows that they need to have a level of risk tolerance. While risk-seeking day traders can take on massive risks in the pursuit of huge profits, risk-averse day traders seek to reduce the amount of risk they would encounter. As a day trader, how would you describe yourself? Are you risk-seeking or risk-averse?

Risk-takers never last long, they may have an impressive run and it may seem as if they have the perfect strategy, and yet after a few losses they lose everything they have earned and even more during that period.

If anyone is interested in day trading they need to be in complete control of the risk they take which each trade they make, and they need be ready to keep the risk as low as possible, and if this means accepting slightly lesser profits then they can do nothing but to accept it, as there is no other alternative they can take.

[tbct_mt2]

I can consider myself a day trader also because I do trades with this kind of timespan.
Being a day trader, it's difficult because from time to time you really need to watch or observe the price action, and through that, you will able to analyze the market.
The risk here for me still depends, based on your risk management and/or risk:reward ratio.

If you are trading with 5 minute chart, your orders should be closed sooner than if you trade with 15-minute, 30-minute or 1-hour chart. With 5-minute chart, you should not let your position opens more than 1 hour or 2 hours.

Knowing about a maximum timespan to let your position active is important. It helps you to exit the market when it comes to a next big movement time. Market can move up and down after that time and if you are not sure about its next movement, exit your position, wait for a next chance to open a new position.

It requires very good discipline to protect your capital against market risk.