How profitable is BTC daytrading?

[Arv1e]

Less profitable than gambling. 

Gambling is designated for you to lose. Is designated Casino earns money to pay their workers and machines.

The volatility in bitcoin prices present opportunities... to lose as well as make money.

Exactly. without that would give us much less chances to earn.

This is not actualy true. "Luck"based Gambling is mathamatically designed to favour the house however this is not true for 'Skill' based gambling.

Skill based Gambling is when you play a game against an opponent such as Poker, Backgammon etc and the house then charges a flat fee, known as a rake, to host the game.

As a poker player I win, over time, playing poker however as there is an element of luck, unlike chess, then i can play to the best of my ability and still lose to bad luck (known as a 'Bad Beat") or just being card dead.

The skill of being a poker professional is all about Bankroll management and the principles can be applied to Bitcoin and day trading. Basically when i play poker i only play with  2% bankroll.

I am guessing Day traders apply similar methods when applying their investment strategies

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[arogatos]

hey guys! i have been watching the charts for a while and i recently started "gambling"/trading a bit. can anybody estimate why the price has been so constant over the past 3 days?

[scryptasicminer]

All day traders eventually gone bust.

[Divinespark]

I have stopped doing it as I found I wasn't making enough to justify the time spent
Just don't have access to the advanced trading tools needed, I guess

[Eastwind]

Over 90% day traders lose money in stock market.

[Group Bitcoin]

Less profitable than gambling. 

Gambling is designated for you to lose. Is designated Casino earns money to pay their workers and machines.

The volatility in bitcoin prices present opportunities... to lose as well as make money.

Exactly. without that would give us much less chances to earn.

This is not actualy true. "Luck"based Gambling is mathamatically designed to favour the house however this is not true for 'Skill' based gambling.

Skill based Gambling is when you play a game against an opponent such as Poker, Backgammon etc and the house then charges a flat fee, known as a rake, to host the game.

As a poker player I win, over time, playing poker however as there is an element of luck, unlike chess, then i can play to the best of my ability and still lose to bad luck (known as a 'Bad Beat") or just being card dead.

The skill of being a poker professional is all about Bankroll management and the principles can be applied to Bitcoin and day trading. Basically when i play poker i only play with  2% bankroll.

I am guessing Day traders apply similar methods when applying their investment strategies

'Skill based gambling' hahaha favorite quote of the day!

[IBGigglin]

If you understand what you trying to do and focus hours on day trading you can do well.
It's not impossible but like day trading stocks you have to know what you are doing and have the capital for loss.
You cant be right all the time or be awake all the time. It's just a matter of being right when it counts and being able to take losses and move forward.

[RobertDJ]

Over 90% day traders lose money in stock market.

This is especially true once you factor in commissions (or trading fees in terms of bitcoin exchanges). In order for you to only break even you will need to earn a profit on each trade.

[sherbyspark]

Over 90% day traders lose money in stock market.

This is especially true once you factor in commissions (or trading fees in terms of bitcoin exchanges). In order for you to only break even you will need to earn a profit on each trade.

I think altcoin day trading is much better than the normal day trading. Around 70% people are profitable doing it.

[DeAlquezar]

Over 90% day traders lose money in stock market.

Because of they don't know how to invest. They think day-trading is an easy way of earning money but it's very hard and stressful work.

[maurya78]

I have only ever lost money day trading cryptos. But maybe I am just not skilled enough.

[ScreamnShout]

Over 90% day traders lose money in stock market.

This is especially true once you factor in commissions (or trading fees in terms of bitcoin exchanges). In order for you to only break even you will need to earn a profit on each trade.

I think altcoin day trading is much better than the normal day trading. Around 70% people are profitable doing it.

This is not true. It is very difficult to take a short position on altcoins and as a result traders are not able to take the most profitable trade - the shorting of shit/altcoins.

Also most altcoins have markets that are very much manipulated by the devs and you are at risk of falling for a pump and dump scam

[itos]

There is big money in alt coins. But only if you can control the market and rise a coin and then destroy it.

[BootstrapCoinDev]

Over 90% day traders lose money in stock market.

This is especially true once you factor in commissions (or trading fees in terms of bitcoin exchanges). In order for you to only break even you will need to earn a profit on each trade.

I think altcoin day trading is much better than the normal day trading. Around 70% people are profitable doing it.

This is not true. It is very difficult to take a short position on altcoins and as a result traders are not able to take the most profitable trade - the shorting of shit/altcoins.

Also most altcoins have markets that are very much manipulated by the devs and you are at risk of falling for a pump and dump scam

Whenever the value of those coins in my possession goes down from the initial value, I will be asked to provide additional margin. This is typically done daily. If I can't provide the additional margin, the broker can liquidate my positions. This is how it's typically done in wall street. And don't see why we can't do the same here.

[RobertDJ]

Over 90% day traders lose money in stock market.

This is especially true once you factor in commissions (or trading fees in terms of bitcoin exchanges). In order for you to only break even you will need to earn a profit on each trade.

alue
I think altcoin day trading is much better than the normal day trading. Around 70% people are profitable doing it.

This is not true. It is very difficult to take a short position on altcoins and as a result traders are not able to take the most profitable trade - the shorting of shit/altcoins.

Also most altcoins have markets that are very much manipulated by the devs and you are at risk of falling for a pump and dump scam

Whenever the value of those coins in my possession goes down from the initial value, I will be asked to provide additional margin. This is typically done daily. If I can't provide the additional margin, the broker can liquidate my positions. This is how it's typically done in wall street. And don't see why we can't do the same here.

it is different because it is easy to manipulate the market value of the altcoin. If an exchange was crazy enough to lend to you in order to trade alts then you could potentially artificially inflate the price of the coin, borrow money from your holdings of the inflated value of altcoins, withdraw what you have borrowed then stop artificially supporting the price of the altcoin, causing it to crash, and making it a moot point if the exchange issues a margin call

[Dabs]

That's what I did once. I daytraded BTC to LTC, then back to BTC. Doubled my BTC. Twice. But that's it. Actually, it was trade BTC to LTC one day, then the next day when LTC shot up, I traded it back to BTC.

Hasn't happened again. And I spent it all already.

[usupnaruto]

if i may to suggest maybe with you can buy a GHS in mining site and you will get a profit almost everydays

[BitcoinHeroes]

That's what I did once. I daytraded BTC to LTC, then back to BTC. Doubled my BTC. Twice. But that's it. Actually, it was trade BTC to LTC one day, then the next day when LTC shot up, I traded it back to BTC.

This is a very rare scenario and I would say is certainly one that is not easy to predict. If you were on the wrong side of any of these trades then you would have ended up loosing a lot of money.

Hasn't happened again. And I spent it all already.

LOL.

[Munz77]

Out of 5 pages, only two posts even resemble anything intelligent. Armchair bandits talking garbage about what they think trading is. For anyone who is thinking about trading, study meticulously and start with a relatively small amount. These days traders are engineers. Its all about maths, probability and problem solving. If your uneducated, talk crap on forums thinking your someone or can't take the time to grasp a textbook then maybe just hold.

[thejaytiesto]

Day trading is a scam. All markets are rigged by whales:

http://www.dailymail.co.uk/news/article-2831108/Five-world-s-banks-fined-2BN-rigging-foreign-exchange-markets-prosecuted.html

If you are not in the inner circle, chances are you'll lose money.