Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Topic started by: BitMaxz on March 27, 2024, 08:37:24 PM
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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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.
It's all about knowledge and understanding and finding a suitable strategy. A person who gets into day trading needs to have ample knowledge about the market and different trading practices and techniques so that they don't face much issues, and apart from that, they will need to find a strategy that suites their calibre based on their investment amount and their risk appetite.
You can't get into trading, start buying and selling cryptocurrencies while having no knowledge at al all and expect to get a lot of profit because that's not how it works. You don't get profit by making trades based on your gut feelings or rumors that you hear from here and there.
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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 find it 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.
I don't target the take profit I usually set a stop loss at 1% in the entry point or it depends on the previous movement under the support and then when it's bullish and there is a continuous pump I manually set the SL below the current price at around 0.4% or 0.7% when it drops it would automatically exit my trade with the profit.
It seems that while monitoring them I learn that you always need to find the support and resistance so that you know where to entry. I think I'm improving but still, I can't catch the huge pump my stop loss and take profit is always triggered even if the price move is bouncing or a fake decline and miss the chance to take a huge profit.
I'm adjusting a bit my strategy currently I am using supertrend, stochastic RSI, and volume/MACD other trades do not have many indicators but since I'm new I am looking for indicators that are more comfortable to me.
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Daily trading is excited trading with profitable earn in short term, but most of daily trader has target to earn profit under 5% with top or potential altcoin. I doubt with profitable raise up to 20% with daily trading and most of trader for raising profit above 50% have take high risk by trading with meme coins or altcoin new listing on the market.
Interested with daily trading because for not stable financial earn profit every day and enough fund for their recovery, but if have stable financial better take long term trading with potential profitable earn above 100% exactly current moment when bitcoin pump drastically.
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What do you think is there a day trader who can make a good profit daily?
Yes, there are so many crypto day traders that make good profit on daily, weekly, and monthly basis. But, those day trader don't always make profit as sometimes there are days when they make some losses.
Ask any trader and they'll tell you that there are both profits and losses in life of a trader, and especially the rule highly applies to those who are day traders. I would consider myself as opportunistic trader because I only trade when I find good opportunity of profits, however there are traders who trade without caring much about opportunities.
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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?
I am glad you made some profit even after bearing some loss, but I suggest you should stick to it, even if you are not making any huge profits like those YT dudes, I assumed you are a noob in compared to those YT dudes you are talking about if that's the case then bro everything has steps that we have to take. For example, you started day trading and made a lose, but then started to make a profit but lesser, you want to make huge profit, what if the next step on the ladder is huge profit from the step of ladder where you gave up (less profit).
I suggest you should keep moving, and be positive on this, profit is profit, if you are making then don't stop now, because with time and practise you would be able to make huge profits as well. One more thing, you said you learned Day trading via internet, can you share some useful resources for newbies like me so we could also learn. It would be a great addition in our knowledge. Thanks.
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Naturally, trading is very risky, and only those that risk it with a huge amount also get a huge profit, but that's also how much they can lose. While I was day trading, I can't say I was a successful day trader then because I can actually be in a huge profit today and the next day I might just end up losing everything I have earned the previous day. Although, as of then, I was trading sports and forex, this time around, I am only doing futures trading with BTC/USDT as my favorite pair, and I have not really experienced a huge loss. I don't day trade on futures; I can keep my trade running for a few days or even a week just on very low leverage.
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I suggest you should keep moving, and be positive on this, profit is profit, if you are making then don't stop now, because with time and practise you would be able to make huge profits as well. One more thing, you said you learned Day trading via internet, can you share some useful resources for newbies like me so we could also learn. It would be a great addition in our knowledge. Thanks.
I learn a lot from the link below and I only read the technical analysis.
- https://github.com/SpiralDevelopment/Awesome-Crypto-Trading
Once I learned from them I downloaded some simulators like "Stock Market Simulator Game" and "Learn Candlestick" You can find these apps on playstore just use these terms. The good thing about using this app you can learn easily about the candle stick and you can play live trading in crypto with paper money.
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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?
There are very few people who successfully make day trading in cryptocurrency. I really like to go with trading and sometimes manage to make some money from trading. But I can't say for sure that I can earn by trading daily. Sometimes it is seen that after trading, if you want to trade again, you have to be in the middle of losses. Only those who are very experienced in trading and can make technical predictions can make money by day trading. If a man wants to earn money from tats daily he must gain a lot of experience about trading and work hard but he will be successful in daily trading.
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It's all about knowledge and understanding and finding a suitable strategy.
Agree. Success in trading is about good knowledge or skills besides having experience. Without these things, it is impossible to have proper strategy and be success in it. However, to have all of them requires serious effort and it may take a quite long time.
You can't get into trading, start buying and selling cryptocurrencies while having no knowledge at al all and expect to get a lot of profit because that's not how it works.
We call it 'gambling' if we trade without knowledge.
Sure, it won't work and probably hard to success in this way.
I don't target the take profit I usually set a stop loss at 1% in the entry point or it depends on the previous movement under the support and then when it's bullish and there is a continuous pump I manually set the SL below the current price at around 0.4% or 0.7% when it drops it would automatically exit my trade with the profit.
If you do day trading, I don't it is a must to set a stop loss. But it depends on your own strategy. If you feel comfortable with setting stop loss, it is no problem. Anyway, I always set for taking profits daily but if it fails, I sometimes prefer holding for few days.
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What do you think is there a day trader who can make a good profit daily?
There is risk in whatever thing that we do, its not about using a particular trading type that saves us from loosing money on trades, sometimes we need the reevaluation of our strength and weakness in any of the desired trading pattern we are are going for, even day trading can be as risky as any other types sometimes, but many seems to understand this method because they feels its more secured to use and achieve little within a day and also get positioned for the next day.
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It would depend on your style of trading because you can trade differently and expect different rates in your profit.
- Swing Traders
- Market Makers
- Algorithm Traders
These types are from what I can think of from the top of the dome. If you are a swing trader, you aim for longer hold in positions and wait for the market to give you the profit. Longer positions here.
Market makers would definitely be one of your styles if you want that "daily" type of thing.
Algorithm traders are the ones that uses bots to trade for them and chooses different strategies for different markets.
It's up to you to decide what type of trader you are. There are successful traders. You just need to know what type of trader you are.
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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?
Of course there is a large amount of people in cryptocurrency world who are doing day trading and if we look out closely then there are mostly user over doing short term trading rather than the long term holder or long term strategy trader.
But it is also true that most amount of people who face losses while doing trading these amount are also larger in short term or day trader. Because they trading is not for all it is for those people who know the fundamental analysis and obviously also the technical analysis rather than who will do they trading their might be more possibility of loss.
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What do you think is there a day trader who can make a good profit daily?
There are traders that makes money from trading, but such traders prefer to use high amount of money, using no leverage at all and also prefer not to start their trading with all their money but just little amount. They are very patient and not greedy. Some traders will start small, use high leverage and always lose. Using leverage is the reason some traders are losing. But it is advisable for a trader to use small amount of money until he becomes a better trader because as you said, trading is very risky.
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There are traders that makes money from trading, but such traders prefer to use high amount of money, using no leverage at all and also prefer not to start their trading with all their money but just little amount. They are very patient and not greedy. Some traders will start small, use high leverage and always lose. Using leverage is the reason some traders are losing. But it is advisable for a trader to use small amount of money until he becomes a better trader because as you said, trading is very risky.
Well, I'm sure that daily trading is successful, it can only be done by those who have a lot of capital and have very good analytical skills, but if there are no needs as I mentioned above then daily trading will be very difficult to do.
To be honest, until now I don't want to do daily trading anymore because the risks are too high.
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These types are from what I can think of from the top of the dome. If you are a swing trader, you aim for longer hold in positions and wait for the market to give you the profit. Longer positions here.
Market makers would definitely be one of your styles if you want that "daily" type of thing.
Algorithm traders are the ones that uses bots to trade for them and chooses different strategies for different markets.
It's up to you to decide what type of trader you are. There are successful traders. You just need to know what type of trader you are.
Market makers is what exactly I wanted to do but the sad part I almost lost around 15% of my capital pretty bad crypto is pretty hard to predict patterns do not work well and I noticed something that patterns are a signal for whales if you follow these strategies they are going to take you out on the market.
That is why they said you need reverse psychology in trading if you are not whales are going to take you down. Just Imagine I almost check the market daily for 15 hours check the market from time to time patterns give you possibilities but the result is different.
I don't know if these courses or guides on YouTube are true no live trading almost what I see on YouTube is back testing which means they already know what price after a few candles. What I want to see are traders who record their activity during their trading hours. How exactly are they made in day trading but it's rare.
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Well, I'm sure that daily trading is successful, it can only be done by those who have a lot of capital and have very good analytical skills, but if there are no needs as I mentioned above then daily trading will be very difficult to do.
To be honest, until now I don't want to do daily trading anymore because the risks are too high.
Day trading is always risky, because even with good skills, any unexpected bad news can turn even a profitable trade into a loss. Since those who do day trading are dealing with large funds, there is a lot of stress in day trading. But there are some traders who are making regular profits from day trading and can apply their skills properly in their trades. I also used to day trade and at one time I thought I should quit day trading because I made a lot of losses day trading.
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Well, I'm sure that daily trading is successful, it can only be done by those who have a lot of capital and have very good analytical skills, but if there are no needs as I mentioned above then daily trading will be very difficult to do.
To be honest, until now I don't want to do daily trading anymore because the risks are too high.
Day trading is always risky, because even with good skills, any unexpected bad news can turn even a profitable trade into a loss. Since those who do day trading are dealing with large funds, there is a lot of stress in day trading. But there are some traders who are making regular profits from day trading and can apply their skills properly in their trades. I also used to day trade and at one time I thought I should quit day trading because I made a lot of losses day trading.
Same here, i used to do scalping but still it was very stressful that i felt that my health is compromised that i decided to quit. They are right when they say that day trading is not for everybody because of certain factors that everybody won't possess. Maybe copy trading is a bit less stressful, i'll try to study this one and venture into it if the result of study is positive.
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There are many traders who usually do short range trading like he takes a trade and he has some profit in that trade and he immediately sells his coins and waits for trading on the next day. People who trade on a daily basis usually need to do a lot of market analysis. Those who have enough time and can devote enough time to monitoring the market charts and candles usually trade every day. By trading every day you will only make profit but sometimes your checking is wrong and because of that mistake you lose a lot of money. At that time when money is in loss but a trader must not sell his money at a loss rather he waits for some time until his loss is recovered. But if a Tedders can trade in the right way then he can definitely make profit by trading every day
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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?
Being a day trader is never an easy task, it need more time and practices, so if you haven't gotten much experience I will advice you to stick with your spot trading. Because is more safer than using future trading and to avoid any form of liquidation. One thing about Spot trading, is that you can gain alot profits from it but it depends on the amount of money you are actually using to trade. And if you keep on focusing on others wins you won't be able to grow a good portfolio for yah self. Because you seeing others winnings via social media would bring the urge of you wanting to make it big pretty fast ( which is not how things work). You have to take your time and trust the process, and focus on minimising losses, because minimise loss = more wins = more profits.
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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?
Futures trading is as good as doing gambling, one day you will make some losses and the other days you make some profits. How you survive this market depend on the kind of leverage you chose to use, if you use a high leverage, you can make a high profits but the tendency of making loss it will be higher.
If you use a low leverage, you can make profit as well and the tendency of making huge loss will be lower, so how you survive the brutality of the market depend on how you choose your leverage in this market.
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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?
Futures trading is as good as doing gambling, one day you will make some losses and the other days you make some profits. How you survive this market depend on the kind of leverage you chose to use, if you use a high leverage, you can make a high profits but the tendency of making loss it will be higher.
If you use a low leverage, you can make profit as well and the tendency of making huge loss will be lower, so how you survive the brutality of the market depend on how you choose your leverage in this market.
The basic concept is that the risk of daily trading activities alone carries quite a large risk. Plus leverage makes the risk even greater. I always assume that adding leverage is adding risk to trading. One may be able to make huge profits from it, but remember the assets that are liquidated on Binance or on other futures trading platforms are victims who fail to overcome the magnitude of the risk.
I think there are those who live off profits from daily trading, and up to now perhaps the strategy they use is very good and highly disciplined so they can still make money even when the market crashes.
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There are people successful in trading. I mean, looking at those Elite traders on Bitget copy trading with huge profit but then this makes me think, is it possible to be like them?
Yes, it is very much possible. But there is a lot of hard work to put in there and a lot of patience to condole to get there or even get better than them
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Same here, i used to do scalping but still it was very stressful that i felt that my health is compromised that i decided to quit. They are right when they say that day trading is not for everybody because of certain factors that everybody won't possess. Maybe copy trading is a bit less stressful, i'll try to study this one and venture into it if the result of study is positive.
There will be stress in trading, I don't think copy trading will go beyond that. I also have no knowledge about copy trading, I can study it. But currently I am looking at long term trades and keeping all these things in mind as halving is coming, I am currently trying to keep more cash in my account to catch the right opportunity. So now I give more importance to investing compared to day trading, by doing this I am getting a lot of comfort in my health as well as mentally.
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Futures trading is as good as doing gambling, one day you will make some losses and the other days you make some profits. How you survive this market depend on the kind of leverage you chose to use, if you use a high leverage, you can make a high profits but the tendency of making loss it will be higher.
If you use a low leverage, you can make profit as well and the tendency of making huge loss will be lower, so how you survive the brutality of the market depend on how you choose your leverage in this market.
I stopped on future trading I see huge potential to rich quickly but it depends on your technical analysis and strategy and you should know how to use leverage wisely if you only enter on the patterns with high probability you can increase leverage to higher but also take note of liquidity based on my experience if you don't manage the risk properly you can't make a good profit in trading and your account will end up liquidate for me, it's a real gamble if you enter in futures without deep technical analysis and strategy.
For now, stay on spot I see much potential in spot and the movement is not so sensitive compared on future trading.
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I stopped on future trading I see huge potential to rich quickly but it depends on your technical analysis and strategy and you should know how to use leverage wisely if you only enter on the patterns with high probability you can increase leverage to higher but also take note of liquidity based on my experience if you don't manage the risk properly you can't make a good profit in trading and your account will end up liquidate for me, it's a real gamble if you enter in futures without deep technical analysis and strategy.
It is better to use just 1 leverage if trading futures. Altcoins are dangerous and they have different volatility. Only technical analysis is not enough but also other strategies are important. My advise to future traders is that even if they can go down as low as 0.1 leverage, it is better because the lesser the risk.
For now, stay on spot I see much potential in spot and the movement is not so sensitive compared on future trading.
I think holding can be better. No stress but passive income if the market increases. No shitcoins needed.
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Day trading is always risky, because even with good skills, any unexpected bad news can turn even a profitable trade into a loss. Since those who do day trading are dealing with large funds, there is a lot of stress in day trading. But there are some traders who are making regular profits from day trading and can apply their skills properly in their trades. I also used to day trade and at one time I thought I should quit day trading because I made a lot of losses day trading.
Day trading is risky and everyone should accept this fact but if someone don't learn to overcome their mistakes by thinking that trading is risky and loss is confirmed then they cannot get profit ever. Beside this risk there are lots of people who win their trade on daily basis and their losses are minimum.
People can just want to earn through day trading but they don't like to learn for it as a result of which they never earn according to their wishes. Skills and knowledge is must for trading and person should also familiar with technical analysis and should be capable of getting details from price chart.
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It is better to use just 1 leverage if trading futures. Altcoins are dangerous and they have different volatility. Only technical analysis is not enough but also other strategies are important. My advise to future traders is that even if they can go down as low as 0.1 leverage, it is better because the lesser the risk.
Futures very risky I stop unless if I have another capital I maybe try to play again on futures. I did lots of mistakes the ROE is too sensitive if you set it to high leverage and another thing is if you don't make profit in 50x or 100x you will lose in future fees makers and takers I tried 1x leverage I was just a bit confused I thought that if I set it to 1x leverage they don't give a loan but its different they don't have option to use only your own funds to set a short you still need to pay high fees.
I think holding can be better. No stress but passive income if the market increases. No shitcoins needed.
Yeah agree but we always miss some opportunities on ups and downs it needs a deep analysis with a good strategy you can make a bit of a percentage of profit.
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There are people successful in trading. I mean, looking at those Elite traders on Bitget copy trading with huge profit but then this makes me think, is it possible to be like them?
Yes, it is very much possible. But there is a lot of hard work to put in there and a lot of patience to condole to get there or even get better than them
As long as you can follow it well and can control your patience well, there is a possibility that you can get the same profit as the copy trading that you use, but remember that the capital you use may be very different so profits will depend on the capital used for trading.
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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?
I also intend to spend more time becoming an intra-day trader: opening and closing orders within a day to get a good night's sleep instead of worrying about the investment even though I have placed a stop-loss order. Many intra-day traders are very successful thanks to their discipline, they manage their capital and psychology extremely well. During a bull run in the crypto market, their profits are not as large as those of long-term holders because the price of tokens can increase while they are sleeping and the market is open 24/7, but it is also very good and balance grows steadily over time. I think becoming an intra-day trader is a professional goal!
Some of the difficulties that I am also facing when trying to use a demo account to trade intra-day is that most indicators are only effective for the weekly timeframe, this is just my personal feeling, many other intra-day traders are still using them very effectively. At the same time, I also have to get used to the possibility of missing out on opportunities in the market in exchange for the safety of my investment capital, the feeling of regret can lead me to make unwise decisions the next day and lose money. Fortunately, everything is still only happening on the demo account, not affecting my DCA account.
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I also intend to spend more time becoming an intra-day trader: opening and closing orders within a day to get a good night's sleep instead of worrying about the investment even though I have placed a stop-loss order. Many intra-day traders are very successful thanks to their discipline, they manage their capital and psychology extremely well. During a bull run in the crypto market, their profits are not as large as those of long-term holders because the price of tokens can increase while they are sleeping and the market is open 24/7, but it is also very good and balance grows steadily over time. I think becoming an intra-day trader is a professional goal!
Some of the difficulties that I am also facing when trying to use a demo account to trade intra-day is that most indicators are only effective for the weekly timeframe, this is just my personal feeling, many other intra-day traders are still using them very effectively. At the same time, I also have to get used to the possibility of missing out on opportunities in the market in exchange for the safety of my investment capital, the feeling of regret can lead me to make unwise decisions the next day and lose money. Fortunately, everything is still only happening on the demo account, not affecting my DCA account.
I tried intraday it is extremely difficult but if you have a strategy and you are following the rules of managing the risk you can be successful in making a good profit than losing much in trading.
A sample strategy is by checking support and resistance by following the rules of opening a position short or long position you should only execute it when it touches to support or resistance zone and always put a 1 to 3 percent stop-loss to avoid losing much if your prediction is wrong. Don't repeat and don't chase wait for the opportunity for sudden changes on the trend and plan your another attempt once you succeed the next step is to secure your position and place the stop loss above your position to secure your profit and gradually adjust the SL until it hits your target, if not and it hits your SL you already secured the profit.
This is my current strategy it maybe not work for you but for me it works after losing much in trading I learned from my mistakes before.
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Day trading is always risky, because even with good skills, any unexpected bad news can turn even a profitable trade into a loss. Since those who do day trading are dealing with large funds, there is a lot of stress in day trading. But there are some traders who are making regular profits from day trading and can apply their skills properly in their trades. I also used to day trade and at one time I thought I should quit day trading because I made a lot of losses day trading.
Day trading is risky and everyone should accept this fact but if someone don't learn to overcome their mistakes by thinking that trading is risky and loss is confirmed then they cannot get profit ever. Beside this risk there are lots of people who win their trade on daily basis and their losses are minimum.
People can just want to earn through day trading but they don't like to learn for it as a result of which they never earn according to their wishes. Skills and knowledge is must for trading and person should also familiar with technical analysis and should be capable of getting details from price chart.
Even after knowing the risks of day trading, traders come to day trading because there is a temptation to make easy money. Just as there are successful day traders I know, there are also many loser traders who have made huge losses through day trading. Now traders have become more aggressive in the hope of quick profit they want to do risky trading like futures trading, which leads a trader to huge losses. Trading is not an easy task it is highly professional's game here many experienced traders also lose money.
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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?
Yes, it's really very hard, I also did daily trading way back even before the pandemic, and it's like a see-saw for me. It's really unpredictable to make profits daily and even if you have a target almost 90% of the time I won't hit that profit margin.
So I just dump this whole idea and just focuses on more of a HODLer and doing DCA 2020 and moving forward. And it's not for everyone, I believed. Maybe I don't have the skills and the patience to remain in this game.
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Yes, it's really very hard, I also did daily trading way back even before the pandemic, and it's like a see-saw for me. It's really unpredictable to make profits daily and even if you have a target almost 90% of the time I won't hit that profit margin.
So I just dump this whole idea and just focuses on more of a HODLer and doing DCA 2020 and moving forward. And it's not for everyone, I believed. Maybe I don't have the skills and the patience to remain in this game.
Patience is the key you just need to wait for the opportunity before you entry and make sure to wait for double confirmation that you know if the price will go down or up. I'm not expert yet but I learn from my mistakes and I am trying to correct everything day trading only works on futures but not every day is always a win some days are lost but if you have proper risk management your loss should be less than the win.
Dca is always works if you know if the market is bullish but if not you would loss in the long run.
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What do you think is there a day trader who can make a good profit daily?
If you want to ask, is there any? So the answer must be there. because daily traders are still in business and the market is still very active with that. Whether it's daily trading on the spot market or future market. Of the many day traders, surely many of them also get profits, because that is why they have survived until now.
but if asked, did anyone lose? of course there are lots of them too. There is no guarantee that trading will always be profitable, no, there are also many losses.
But once again this will depend on how a day trader organizes himself in day trading activities, sets strategies, and carries out previous analysis. so at least you can really have a way to gain the profits regularly more than the losses.
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Yes, it's really very hard, I also did daily trading way back even before the pandemic, and it's like a see-saw for me. It's really unpredictable to make profits daily and even if you have a target almost 90% of the time I won't hit that profit margin.
So I just dump this whole idea and just focuses on more of a HODLer and doing DCA 2020 and moving forward. And it's not for everyone, I believed. Maybe I don't have the skills and the patience to remain in this game.
No one can guarantee profits for coin price movements, it's not easy to predict, but what makes it easier for me is that I won't enter the market when the price is still high, I will enter the market and buy coins when there is bad news that makes the coin price go down and will sell it when the price goes up.
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For an experienced trader, scalping is a very good way to make some money. In futures trading scalping is a very way if you can control your greed. But it is not for beginner. It is very risky. Professional traders open many orders at the same time some for short-term and others for long duration.
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Either way of trading, we can all see that trading demands a commitment of patience which indeeds inquire when we are to start trading and when we are to stop. Doing the DCA is a patient options and Scalping is for tough hustlers, HODlers are just people who are savers.
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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?
I had been a day trader in the past and I stopped being one cause it does not bring any profits for the efforts were are making and also the profit depends on your country's taxation policy towards crypto currencies, if they are asking taxes even for crypto to crypto trades then just forget about being a day trader cause the taxes will eat your profits and most of the time even your capital.
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I had been a day trader in the past and I stopped being one cause it does not bring any profits for the efforts were are making and also the profit depends on your country's taxation policy towards crypto currencies, if they are asking taxes even for crypto to crypto trades then just forget about being a day trader cause the taxes will eat your profits and most of the time even your capital.
Tax only apply in my experience when I made a profit and withdraw it from the exchange it does not apply on every trade.
Day trading is very difficult this is just based on my experienced you need to always check for the bigger picture or time frame before you enter the market into intraday because without checking the current trend including BTC as your indicator you won't success in trading also see stock market and dollar index and gold influence the price of BTC this is just my own experience for every day trading and also take note of other traders who actually looking for stop-loss I learn from my mistakes I didn't realize early but I did some experiment because the papermoney always gives me idea to but in live trading I experience most of my stoploss always hit by spikes.
That is why there is glassnode or coinglass for liquidation map to avoid those traders who hunt stop-loss.
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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?
Becoming a daily profit trader is not easy to do, and you know that you need someone who has a real understanding of trading, even the other uses of indicators when conducting trading activity.
Although there are others who become successful in their trading every day, that's why it's important to know something. Just do the daily trade in spot and not in futures because you can be rekt in an instant in futures trading.
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What do you think is there a day trader who can make a good profit daily?
I don't know if this is just me, but I think that traders aren't making profit on a daily basis.
What I think is that, they are making thousands of dollars in just a single trade or 2 trades, and that will be enough for them for a week. I mean they aren't making trades on a daily basis, but they are making 1-2 trades on a weekly basis, but those trades are giving huge profits for them. Of course that thousands of dollars that I said will only happen if you have tens of thousands of dollars in your trading account.
Like you, I also think that way, so I tried as well with futures trading, and I lost my money doing it. From there, I realized that expert traders might not be focusing on the number of trades, but the amount of profit that they can get in every trade. Quality over quality as they say. 1 trade with a profit of $1000 would be better than making 10 traders with lesser profit. More trades = more stress as well.
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I don't know if this is just me, but I think that traders aren't making profit on a daily basis.
What I think is that, they are making thousands of dollars in just a single trade or 2 trades, and that will be enough for them for a week. I mean they aren't making trades on a daily basis, but they are making 1-2 trades on a weekly basis, but those trades are giving huge profits for them. Of course that thousands of dollars that I said will only happen if you have tens of thousands of dollars in your trading account.
Like you, I also think that way, so I tried as well with futures trading, and I lost my money doing it. From there, I realized that expert traders might not be focusing on the number of trades, but the amount of profit that they can get in every trade. Quality over quality as they say. 1 trade with a profit of $1000 would be better than making 10 traders with lesser profit. More trades = more stress as well.
Yeah agree they have a specific amount target but I don't think all traders do 1 or 2 trades every single day. I saw live traders daily some of them did 1 to 3 trades a day and then stopped but only those who had a big capital would do that because I saw a daily trader who had good trading skills he consistently trading with 8 to 10 coins at the same time not all coins he trade are success but most of them are profit.
So maybe professional intraday have different ways to be profitable every single day.
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A lot of people I talk to about the current situation and trading, ends up saying that they grinded to be this good, because they were all not that very well back in the day. I understand that its not that simple to be a good trader, so you have to realize that its taking some time to get there, you can't be a good trader right away. I am not saying that its very difficult or its impossible, all I am saying is that it takes time. You have to study to become a good trader, and if you are a person who has no idea what bollinger band means, or what EMA is, and you want to trade? You will end up being quite upset.
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Just as there are successful day traders I know, there are also many loser traders who have made huge losses through day trading. Now traders have become more aggressive in the hope of quick profit they want to do risky trading like futures trading, which leads a trader to huge losses. Trading is not an easy task it is highly professional's game here many experienced traders also lose money.
All the day traders that I know are losing. You can see them telling you today that they won, they can be telling you many days or weeks that they are winning. But after sometimes they will said that they made a mistake and lost huge amount of money which is more than the money they started using to trade. Trading should not be daily or scalping, it should be for patient people that will know the right time to enter and leave the market.
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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?
Becoming a daily profit trader is not easy to do, and you know that you need someone who has a real understanding of trading, even the other uses of indicators when conducting trading activity.
Although there are others who become successful in their trading every day, that's why it's important to know something. Just do the daily trade in spot and not in futures because you can be rekt in an instant in futures trading.
It's true, doing daily trading will not be easy, sometimes market conditions do not match what we have analyzed using the various theories we have studied. Never trade futures because it is very dangerous, if you make a wrong prediction it will cause your assets to disappear instantly.
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All the day traders that I know are losing. You can see them telling you today that they won, they can be telling you many days or weeks that they are winning. But after sometimes they will said that they made a mistake and lost huge amount of money which is more than the money they started using to trade. Trading should not be daily or scalping, it should be for patient people that will know the right time to enter and leave the market.
Such mistakes are made by people entering the market, making a few trades, earning a few bucks, and thinking they have mastered it, and then they will make an investment in some shit coin or meme coin thinking they will earn a lot of profit shortly but they lose their money.
So, of course, trading isn't for the impatient and those who aren't knowledgeable enough about the market. Someone isn't supposed to rush into the market to start trading so that they can start earning money as quickly as possible because only those who take their time and enter the market after learning everything will get success in trading.
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Yes, it's really very hard, I also did daily trading way back even before the pandemic, and it's like a see-saw for me. It's really unpredictable to make profits daily and even if you have a target almost 90% of the time I won't hit that profit margin.
So I just dump this whole idea and just focuses on more of a HODLer and doing DCA 2020 and moving forward. And it's not for everyone, I believed. Maybe I don't have the skills and the patience to remain in this game.
No one can guarantee profits for coin price movements, it's not easy to predict, but what makes it easier for me is that I won't enter the market when the price is still high, I will enter the market and buy coins when there is bad news that makes the coin price go down and will sell it when the price goes up.
A day trader is also known as a short term trader. A day trader must be more experienced than a typical or long term trader to make profit. He has to buy assets at a small margin and make profit by reselling those assets. When the market is bullish then any trader can easily make profit in the market but it is very difficult to gain profit by day trading during bearish time. Those who are day traders usually keep updates of the market. They do not underestimate any small event because the market depends on the financial, commercial or legal issues of the world leading countries world. Traders who make a profit from day trading must have more knowledge about the market.
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It's true, doing daily trading will not be easy, sometimes market conditions do not match what we have analyzed using the various theories we have studied. Never trade futures because it is very dangerous, if you make a wrong prediction it will cause your assets to disappear instantly.
Daily trading will increase the risk and your loss will become easier because the market changes regularly and all the time the market is not as affordable as we wish. We can just read the market chart but what will happen is not guaranteed by visualizing the market chart.
The future is highly risky and everyone should avoid this type of trading and if someone wants to take huge profit quickly from future trading then they must keep in mind that it can also be a cause of your poor financial status in future.