day trading - what's the catch?

[bitcoinforhelp]

There is one catch, every day trader loose in long term.

[DavidHume]

There is one catch, every day trader loose in long term.

Close to 100% failure rate. Learning to be poker pro actually has higher chance of success.

[Dannie]

There is one catch, every day trader loose in long term.

It is better to just buy and hold, than to day trade IMO. 

[Benjig]

There is one catch, every day trader loose in long term.

Close to 100% failure rate. Learning to be poker pro actually has higher chance of success.

100%??

that can't be true

I mean, how volatile can the price be in 1 day

Enough to get you burn if you are leveraging, if not, well dont expect huge profits anyway, the swings are very weird sometimes.

[ShameOnYou]

There is one catch, every day trader loose in long term.

Every one? I doubt it. From what I've heard, traders (like many other groups) tend to fall under a Pareto distribution of sorts, meaning that 80% lose, while 20% win. Similarly, 80% of one's profits tend to come from 20% of trades -- this, I know to be the case with me.

[ranochigo]

what is day-trading?

Trading bitcoins on exchanges and trying to make a profit. I may be wrong.

[ranochigo]

what is day-trading?

Trading bitcoins on exchanges and trying to make a profit. I may be wrong.

you mean like, if there's a difference between one exchange and an another one?

for example bitstamp 620$ and mtgox 615$

and you buy on mtgox and sell on bitstamp?

Nope, that's called arbitrage trading. I think it is using strategies to know when to buy and sell and try to profit.

[enhu]

i think its by pair or somewhat of currencies usd/gbp.

you have to also buy by pair. now thier chart have indicators which will tell you probability.. somewhat of mt4/5 software.

[bitsmichel]

what is day-trading?

Trading bitcoins on exchanges and trying to make a profit. I may be wrong.

you mean like, if there's a difference between one exchange and an another one?

for example bitstamp 620$ and mtgox 615$

and you buy on mtgox and sell on bitstamp?

Nope, that's called arbitrage trading. I think it is using strategies to know when to buy and sell and try to profit.

how can you know when the price is going up and down in the matter of 24h

it's seems to me like gambling, I'd rather put my money in a casino

You cannot know, only predict based on certain data. For example the past event 'silk road coins sold' could mean the price going down.
If you have an accurate model, you could have a good prediction - but it's still a risk.

[Gargulan]

Have more luck betting on football if you do your homework.

[enhu]

IF a trader knows how to use the indicators in the charts like moving averages, RSI, MacD and stochatics, it will be easy for them to forsee where the market is going.. its what they call bull and bear movement.

[JerryCurlzzz]

IF a trader knows how to use the indicators in the charts like moving averages, RSI, MacD and stochatics, it will be easy for them to forsee where the market is going.. its what they call bull and bear movement.

easy? not so much. give it a try yourself! i found trading quite difficult...

[drmundo]

how do you day trade, is it based on past prices? or speed on selling and buying on btc-e?

[HarryT1923]

how do you day trade, is it based on past prices? or speed on selling and buying on btc-e?

chart patterns, momentum, overbought/oversold indicators. poke around stockcharts.com.

[JerryCurlzzz]

how do you day trade, is it based on past prices? or speed on selling and buying on btc-e?

my favorite longterm setups are mostly based on geometric patterns and fibbonnaci ratios. not so much a day trader here.

[Coef]

IF a trader knows how to use the indicators in the charts like moving averages, RSI, MacD and stochatics, it will be easy for them to forsee where the market is going.. its what they call bull and bear movement.

easy? not so much. give it a try yourself! i found trading quite difficult...

Exactly.
Even for those professional stock/forex traders lose badly from time to time.

[JerryCurlzzz]

IF a trader knows how to use the indicators in the charts like moving averages, RSI, MacD and stochatics, it will be easy for them to forsee where the market is going.. its what they call bull and bear movement.

easy? not so much. give it a try yourself! i found trading quite difficult...

Exactly.
Even for those professional stock/forex traders lose badly from time to time.

the key is simply to have your wins outweigh the losses. i have heard for prop traders that 60% win rate is good to shoot for.

[WillyBTC]

BTC is so volatile -- real money is made trading the swings, not daytrading, IMO.

[BowieMan]

the catch? most lose money. question is, are you going to be the majority or minority?

[HigsonPP]

i don't recommend day trading. too much stress, too little gain. if you're going to trade, do it on the larger cycles. wait for the bubble, watch for crash, sell the bounce. then time your re-entry.