day trading - what's the catch?

[smoothie]

The catch is...there is risk.

Trade with caution. I would only trade and invest with money I could afford to lose.

This is not financial advice.

[paradoxum]

I've been watching the BTC for a month - it seems to go up and down for no discernible reason.

[over1977v]

The catch is the fees make it negative game for average seller/buyer. Fortunatelly there are many buying/selling at any price so you just hope there are not many traders who preffer buy low and sell higher, who compete with you to try make profit

[shogdite]

The catch is potentially losing a shitload of bitcoin. I only trade what I can afford to lose, sometimes invested in the right alt currency at the right time (though i've lost a couple of btc buying into several shitcoins).

[Bitcoin Magazine]

the catch is you lose money, compared to a similar Buy&Hold strategy.  don't believe lies like Wolf of Wall Street.  no sane man makes $1 million a week

[#yolo]

If I understood you correctly you are taking about buying from an exchange and selling to another (though I think this can't be categorized as day trading that much)
if you consider the costs of depositing to the cheaper exchange -mostly cheaper because it has limited deposit options- and the cost of withdrawing in the other more priced one you would be in negative most likely -bankwire fees, exchanger fees- also it would take days to do a single one of these "exchange operation" and the BTC price might have fluctuated against you since the price difference isn't that big...

[Velkro]

the catch is you're going to guess wrong at some point and lose out on a lot of money.

and also all fees of trading
that eats up most of pofit

[Dannie]

Trading is a zero-sum game, and don't forget that trading fees will accumulate to a significant amount if you are doing intra-day trading.

[ranochigo]

Trading is like gambling. You cannot predict the exchange price accurately. Most exchanges have fees which eats up a sum of your profits.

[thermost]

I'm going to start day-trading soon as I've got enough btc, probably only trade small amounts to start off with.

[designerusa]

Buy now, sell later.

[fdiini]

Day trading is like gambling. Close to 100% failure rate.

[BitCoinNutJob]

Risk and stress.  The stress is the worst part, always have a side income if you are trading or have other riskier sort of incomes.  With limited stress anything becomes easier.

[Marbit]

Risk and stress.  The stress is the worst part, always have a side income if you are trading or have other riskier sort of incomes.  With limited stress anything becomes easier.

Totally -- the stress of day trading and scalping is the worst. I don't want to do it forever, but I need to maintain my long term bitcoin position, and short term, I need income.

[FattyMcButterpants]

the "catch" is that 80% of traders lose. the winning traders lap up all the money while the majority slowly bleeds away their capital...

[buy4crypto]

This is not all cases. But when you believe in the coin and what its doing. Buy when others are selling, and sell when they are desperately buying. That usually works out.

[enhu]

I've been watching the BTC for a month - it seems to go up and down for no discernible reason.

That is why its risky unlike in the FOREX market things happen and sudden changes in the market has reason like Non Farm payrolls.

[AceWallen]

I've been watching the BTC for a month - it seems to go up and down for no discernible reason.

That is why its risky unlike in the FOREX market things happen and sudden changes in the market has reason like Non Farm payrolls.

have you ever tried trading forex? i got slaughtered, coming from a bitcoin trader's perspective. day trading bitcoin is $$. it's so robust -- anytime i'm wrong about going long, i just baghold. it always recovers. (just be careful with margin )

[ajw7989]

Day trading is extremely hard with bitcoin considering there is no long term pattern. You might be able to see its direction in the next few hours but thats probably about it. Any news that comes out affects the bitcoin price but also it seems to go up and down randomly as well. If you can have a bit of luck you might be able to make a profit but in the long term its hard to keep making profits.

[enhu]

I've been watching the BTC for a month - it seems to go up and down for no discernible reason.

That is why its risky unlike in the FOREX market things happen and sudden changes in the market has reason like Non Farm payrolls.

have you ever tried trading forex? i got slaughtered, coming from a bitcoin trader's perspective. day trading bitcoin is $$. it's so robust -- anytime i'm wrong about going long, i just baghold. it always recovers. (just be careful with margin )

I've never actually tried bitcoin trading but I do trade with forex. And this is manually trading and setting up the indicators myself not EA.

Does bitcoin charts have indicators too?