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Author Topic: Is there someone successful on day trading with crypto?  (Read 1329 times)

Offline BitMaxz

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Is there someone successful on day trading with crypto?
« on: March 27, 2024, 08:37:24 PM »
I recently focus on becoming a day trader but it looks like it's pretty hard in crypto and spot trading.
I don't know if there is someone can live as a day trader I tried for almost a week what I can say at first I lost and then while watching and keep practicing it seemed I learned how to the market move but I can't still make a huge profit I am making but still not good percentage unlike other day traders that you can see mostly on youtube. I just keep avoiding futures because I lose 20% instantly in a single trade not good if you don't have much practice in too volatile market.

What do you think is there a day trader who can make a good profit daily?
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Is there someone successful on day trading with crypto?
« on: March 27, 2024, 08:37:24 PM »

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Re: Is there someone successful on day trading with crypto?
« Reply #1 on: March 27, 2024, 08:53:10 PM »
The amount of people I have met that were amazing at trading daily is countless. All of them had one thing in common; a lot of studying and wisdom. Nobody that has no idea how to trade could just go in and make a lot of money, you need to be able to work hard to make that happen and that hard work starts with learning how to trade first. That may take a few months if you are already well versed with some of the subjects, or it could be a year, but eventually all of that has to be learned. If you start studying and learn, then eventually one day you will become a great day trader yourself.

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Re: Is there someone successful on day trading with crypto?
« Reply #2 on: March 27, 2024, 09:46:08 PM »
Personally, I do not prefer daily trading, but rather I prefer long-term trading. I also avoid trading in futures contracts because it is very risky.

As for your question, yes, there can be a day trader who makes a lot of profits, especially in a bullish market, but this requires a lot of experience and knowledge of the market, knowledge of the best times to buy and sell, and many other experiences that can come as a result of gaining more knowledge and experience.

My advice: If you do not have a lot of experience, it is better to remain a trader in the long term.

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Re: Is there someone successful on day trading with crypto?
« Reply #3 on: March 27, 2024, 10:34:26 PM »
There are many day traders who make profit by day trading, because they have deep knowledge of crypto market and great trading skills. I know a trader who has been day trading for many years and is a profitable trader. He always makes profit by trading in spot market. A trader must refrain from high risk things like futures trading to reduce risk, trading in the spot market with proper market analysis can make good profit but this requires sufficient knowledge of the market and follows proper money management.

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Re: Is there someone successful on day trading with crypto?
« Reply #4 on: March 27, 2024, 10:34:45 PM »
The amount of people I have met that were amazing at trading daily is countless. All of them had one thing in common; a lot of studying and wisdom. Nobody that has no idea how to trade could just go in and make a lot of money, you need to be able to work hard to make that happen and that hard work starts with learning how to trade first. That may take a few months if you are already well versed with some of the subjects, or it could be a year, but eventually all of that has to be learned. If you start studying and learn, then eventually one day you will become a great day trader yourself.

I'm studying every day and testing my skills and looking for other tools to help me improve like gekko and zenbot bots for back testing strategy and maybe going to use them to automate my trading and testing my strategies.

Personally, I do not prefer daily trading, but rather I prefer long-term trading. I also avoid trading in futures contracts because it is very risky.

As for your question, yes, there can be a day trader who makes a lot of profits, especially in a bullish market, but this requires a lot of experience and knowledge of the market, knowledge of the best times to buy and sell, and many other experiences that can come as a result of gaining more knowledge and experience.

My advice: If you do not have a lot of experience, it is better to remain a trader in the long term.
Well, I honestly want to be one of those who do day trading I see there is a potential in scalping during the day I just need to adjust the greediness and chase the losses.
I made a bit of profit in scalping in combination with stochastic RSI and volume. The only mistakes in my moves are chasing my losses and sometimes greediness and there are lots of indicators that help me to decide when to enter and when to exit.
A long term traders are investors who analyze the long-term chart, unlike a day trader.
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Re: Is there someone successful on day trading with crypto?
« Reply #5 on: March 27, 2024, 11:25:36 PM »
Personally, I do not prefer daily trading, but rather I prefer long-term trading. I also avoid trading in futures contracts because it is very risky.

When you open a position and the market goes in the opposite direction, you become a long-term trader, if it goes pretty deep, then you move to holders.  ;)

It is much easier to trade when the market has a constant trend.
Anyone who has ever traded on Forex is well aware of day trading because long-term is almost impossible.
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Re: Is there someone successful on day trading with crypto?
« Reply #6 on: March 27, 2024, 11:27:32 PM »
What do you think is there a day trader who can make a good profit daily?
I personally don't do it consistently, I even tend to fail.  :D :D :D
But I am sure that the failure I experienced was due to my own fault, not Day Tardes' fault. Because indeed, I don't think I'm ready to do day trading. too busy and not focused enough to do it. Meanwhile for day tardes. We should be able to focus more on several things.

including:
- monitor the market regularly every minute or at least in certain TF's
- Learn market analysis and appropriate charts
- Learn to determine what position to take, short or long.
- Take what coins, based on certain analysis both TA and FA
- and many more things which of course must be done so that the tardes day can be as optimal as possible.

But unfortunately, I failed, because my efforts weren't that big.  ;D ;D


But, that doesn't mean there aren't any successful ones out there.
I have several friends or acquaintances who are more focused on day trades, with several trading methods. And it works so much. He was even so successful that he made day trading his full time daily job. I no longer work outside, because I really optimize my trading days.

I just think it would be very hard if I did it. Usually, the lack of bedtime or bedtime changes, because usually when I start going to work in the morning, he is just about to go to sleep. This may not be important for some people, but for me, I can't do it.

So, I really appreciate anyone who is successful in day trading. Because it's not really easy, I once tried it and it lasted less than 5

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Re: Is there someone successful on day trading with crypto?
« Reply #6 on: March 27, 2024, 11:27:32 PM »


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Re: Is there someone successful on day trading with crypto?
« Reply #7 on: March 28, 2024, 10:15:09 AM »
I recently focus on becoming a day trader but it looks like it's pretty hard in crypto and spot trading.
I don't know if there is someone can live as a day trader I tried for almost a week what I can say at first I lost and then while watching and keep practicing it seemed I learned how to the market move but I can't still make a huge profit I am making but still not good percentage unlike other day traders that you can see mostly on youtube. I just keep avoiding futures because I lose 20% instantly in a single trade not good if you don't have much practice in too volatile market.

What do you think is there a day trader who can make a good profit daily?

Don't do something because you have seen someone on YouTube doing it successfully because most things on YouTube are fabricated and aren't always shown in their actual form or the way they are done in real life because a YouTuber isn't doing everything live and they upload edited videos and it's up to them about what they want us to see and what they don't want us to see.

You said that when you started practicing, you learned the ways how the market moves and you started making a profit, just because it wasn't a huge profit doesn't mean you were not getting success in it. Do you think every person, day trader or long-term trader, tends to get huge profits? No, but if you are at least earning some profit, you are doing great. You should keep learning and improving and over time, you will see your profits growing.
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Re: Is there someone successful on day trading with crypto?
« Reply #8 on: March 28, 2024, 01:03:28 PM »
Day trading is HARD. Especially if you're looking for great gains. You need a lot of research and need to have an in-depth market understanding.
It doesn't happen overnight. Successful day traders have a lot of practice and might even have a knack for knowing when to trade. But mostly it's endless research and market analysis. It's better to invest if you're new to the crypto space and still learning the ropes. You can also turn to licensed AI trading bots like r100k for maximum profits and minimal risks. As for day trading, if you really want to experiment with it, start small and keep learning

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Re: Is there someone successful on day trading with crypto?
« Reply #9 on: March 28, 2024, 02:19:08 PM »
There are many people who are successful with daily trading, once I talked to someone who did daily trading, he said that if you trade a small amount for daily trading, it is a big loss because the profit you get will not be felt, so I concluded that we must have 1000-2000$ for daily trading, if it's only 100 -200 $ it's better for the long term unless 10 $/day is enough for you and that's difficult.
But behind their success, apart from capital, there is also accuracy in the mechanism for when to buy and sell, and the last thing is patience.

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Re: Is there someone successful on day trading with crypto?
« Reply #10 on: March 28, 2024, 03:26:23 PM »
Don't get jealous of other's profit in trading because it can only become a hindrance of your journey in trading. Instead, focus on yourself on how you become better than you are today. Make others achievement as your inspiration, don't compete others. If you can make it, this means that you are a disciplined person which is a very important attitude to succeed in trading.

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Re: Is there someone successful on day trading with crypto?
« Reply #11 on: March 28, 2024, 08:00:53 PM »
day trading is most risky thing in crypto industry and it cannot be learned in just a week so keep learning for months and then take a start with little amount and it is normal that in learning process you will loss huge part of your money.

At start everything seems as a hard thing but when you gain experience you will find it easy and your achievement will become possible but if you think that you will become an expert in just a week then it is not possible. Those who are experts and spend lots of years in trading can earn daily reward otherwise it is difficult for newbies to earn daily.
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Re: Is there someone successful on day trading with crypto?
« Reply #12 on: March 28, 2024, 09:45:57 PM »
I'm sure there are people who make a living from being a daily trader, but to be honest it's very difficult for me to implement. Maybe some people experience it easier to get money from there, but God is very fair. We were created to fill all existing lines of work, so that the world economy can run.

Daily traders have a high risk, to be able to bring home money every day, at least you have to win every day too. And saying something like "buy low, sell high" is just easy to say, hard to do. So, if you are interested in being a day trader, you can increase your experience, because you need to find a good feeling in that field.

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Re: Is there someone successful on day trading with crypto?
« Reply #13 on: March 28, 2024, 11:46:38 PM »
I recently focus on becoming a day trader but it looks like it's pretty hard in crypto and spot trading.
What do you think is there a day trader who can make a good profit daily?
You may set a too high target for taking profits. Or you use a too small funds.  :D
Sure, we don't always get profits in trading. Sometimes, we may get losses because of many reasons. I can understand if you feel hard to be a day trader. However, I'm sure there are people who succeed with day trading. Those people who understand well day trading and may focus on it.

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Re: Is there someone successful on day trading with crypto?
« Reply #14 on: March 29, 2024, 02:28:33 PM »
You may set a too high target for taking profits. Or you use a too small funds.  :D
Sure, we don't always get profits in trading. Sometimes, we may get losses because of many reasons. I can understand if you feel hard to be a day trader. However, I'm sure there are people who succeed with day trading. Those people who understand well day trading and may focus on it.
Daily trading it is very difficult to do, they have to have quite good skills in analyzing coins, because there are lots of coins that are trapped, in the morning the coin can have a high price even up to a 40% increase but after nightfall the price can fall to minus 50%, so you have to be careful when buying coins and make sure you avoid coins like that because they are very risky.

 

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