Is day trading profitable or just a waste of time?

[Akbor 1042]

Day trading is also good for me. but if the price don't go high on that day then you should not sell. so I want to say that exactly I buy at low price and if the price increase slightly then I sell. if the price don't increase then I wait for increasing.

[palalu 512]

On 11/9/2019 at 12:55 PM, Lubruselu said:

Day trading weather could be  profitable or waste of time this is depending on your trading skills and how much you use to trade if is low capital or high capital for trading.

yes I totally agree with your opinion, many newbies without thinking about the risk of choosing for daily trade. It is very high risk if he do not have enough knowledge/experience

[dmnqe07 365]

If you are able to decide wisely in day trading or analyze the market, then there's a  chance of you to earn more, so if you earn from it, you can't tell it a waste of time. the problem is if people dont earn from a thing, they called it a waste of time. in crypto, you can't earn so easily you must have to be wise. 

[MOProgress 363]

I will only talk about myself, I do day-trading and its profitable to me, although I have to trade some selected coins after studying their pump and dump time, which better my understanding on how to trade them.

[Brushless4500KV 4214]

Daily trading is not a waste of time and if you know how to do it properly it brings you profit. To be a successful daily trader you need to be more active and focus more on the market and check prices and charts at least once in an hour. But daily trading doesn't only depend on your skills. The earning potential of every single day depends on the market trend on that particular day and somehow on your luck. You should only choose the coins that have the highest amount of price fluctuations per day to be able to sell them with some profit. You also need to have a relatively big investment to earn enough to compensate for fees. The lower your withdrawal fees, the more your profit. At the end, I should add that daily trading is more difficult and requires more risk than mid or long term trading. Without enough experience you will lose money hands down.

[Sourovdeb890 416]

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[Zentoly 419]

14 hours ago, MOProgress said:

I will only talk about myself, I do day-trading and its profitable to me, although I have to trade some selected coins after studying their pump and dump time, which better my understanding on how to trade them.

right to say day trading have more chances of winning or earning alot of money.

[Pro0XD0Bro 2]

Я считаю, что даже неудачный день в трейдинге - это лучший опыт, который мы бы не получили при успехе. Цените все знания.

[febriyana 934]

On 10/2/2019 at 8:44 PM, BTCmooping said:

Currently I have been trading on part-time basis because of my current job. Some days ago I meant with an old friend who told me that; daily trading has ability make me a passive income than anything. Although, I have be practicing my day trading with a minimal gain compared to what he told me about daily trade. 

Have you get into day trade or just a part-time trader like me before? Would you advise me to keep to day trading?

Lol. How passive income if you still see the chart, researching, and trading.

My opinion is day trading is good, but for full time please think again. Where we need is financial freedom, if you looking chart everyday is it have chance you can enjoy your life. Also if the price cryptocurrency going to downhill oh my god, hope you don't get heart attack.

I'm also part time trader, everyday i research what coin i need to buy, then i buy and leave it. After that i put portfolio in my apps, if i have free time i will see the progress, if the price going up, sell it.

[silvergain 271]

Time does not matter at all. If you know about how to trade with proper risk management then you don't have to worries about. Just do your trade with patient and grab the profits. But i will suggest to trade long term trading rather than short or day time. because only long term traders may get them self rich. short time traders can get only low profits.

[iloveyobit 6599]

On 11/26/2019 at 3:43 AM, xprince1996 said:

I agree with you in order to make a good profit in day trading you need to analyze the market movement and find the best position to enter and wait for a big pump.

Without forgetting that daily trading is very dangerous, especially in a volatile market like digital currencies, in the long run you are somewhat secure but daily trading is profitable and risky at the same time . 

[Yanadia 1517]

I think trading is a good income and I want to be a trader in cryptoworld.  Making trading my main job is the best for me because I can control my own income and be my own employee and boss.is not just about profitable because basic of trading is make a profit. 

[sportlopez9000 232]

It's fun to day trade but for most people it's a sure way to lose. It's kind of like gambling. You don't know where the price will move in short amounts of time and it's like a random walk. It can go up or down, or sometimes the price goes sideways even, but it's hard to beat the trading bots to make a profit at this. I think it's safer to buy and hold than to day trade, and also when you day trade you can lose a lot of money to fees going back and forth. Trading fees are the worst and always eat into my trades.

[Bibhuti Naik 9]

Yes it is profitable but. You have to know the proper technical analysis. Becailuse it is higher risker than other as price flactues very regularly. The stop limit also a better idea to gain profit. Risk reward ratio should me maintain as if you loss in two trade you have to get profit in another 5 trade. Then you will be a successful trader

 

[Naga 1250]

3 hours ago, Digicoin said:

If done appropriately with rules, day trading is profitable. I do not know why some people leave it for swing trading.

People who prefer swing trading are those who don't know which coin to pick for day trading because not all coins can be used for day trading because you need a volatile coin and u need to buy the bottom and sell for 4 or 5% profits. 

[Bibhuti Naik 9]

Yes.. Day trading is profitable. Set a goal that how much is your today limit. Study the proper technical analysis. Charge a part of your portfolio. Wait for your risk reward cross. And buy the sell you can gain profit. After your target is reached

. Don't trade any. More

[xprince1996 865]

16 hours ago, iloveyobit said:

Without forgetting that daily trading is very dangerous, especially in a volatile market like digital currencies, in the long run you are somewhat secure but daily trading is profitable and risky at the same time . 

I know that is why i prefer only to enter the market once my prospect coin is in the dump so that the possibility of being trap is lessened.

[bliznec 22268]

Yes, if trading occurs in a bullish trend, when the price of bitcoin tends to go up. Today, the cryptocurrency market has a bearish mood and this is changing the way. 

[iloveyobit 6599]

11 minutes ago, xprince1996 said:

I know that is why i prefer only to enter the market once my prospect coin is in the dump so that the possibility of being trap is lessened.

and yes sometimes even if you bought on the deep , the coin still make new deeps xd , so i dont prefer to trade when the market is bearish . 

[Pearls Before Swine 815]

I read a lot of post by day traders on bitcointalk, and I have yet to hear stories about how much money they're making.  It's mostly just traders talking about technical analysis and that kind of thing, but I doubt most day traders are making enough money to live on.

 

Day trading is stressful in the stock market, and it's even worse in crypto.  The market often doesn't go the way you want it to, and volatility is usually crazy, especially for coins with low valuations and low volume.  I'd stay away from those.  I'd also stay away from day trading altogether, because it's the same thing as gambling.

[xprince1996 865]

10 hours ago, iloveyobit said:

and yes sometimes even if you bought on the deep , the coin still make new deeps xd , so i dont prefer to trade when the market is bearish . 

Haha that is not a problem at all there is a strategy called leveraging once there is a deep again buy a little percentage of it so once it pumps a little you can get even. 

Edited December 13, 2019 by xprince1996

[Naga 1250]

5 hours ago, Digicoin said:

Yes, highly volatile coin us needed in day trading. Most of the coin too are volatile but still with what you said, their are some coin that are still more volatile and still favor your analyses.

yea volatility is essential in the coin you want to trade day by day in but remember to always check the chart because some coins dump after being volatile for a day or too so dont get too comfortable with your trade.

[Zentoly 419]

2 hours ago, Sahil19 said:

If you know about the trading tips then you can get profit by trading if you don't know about trading tips then trading is waste of time for you

Right to say day trading is all about of tips and tricks and when  a traders have these abilities then they can easily get profit and with lack of these  abilities  getting profit is hard.

[iloveyobit 6599]

9 hours ago, xprince1996 said:

Haha that is not a problem at all there is a strategy called leveraging once there is a deep again buy a little percentage of it so once it pumps a little you can get even. 

Yes, I know it, but the trader must be self-confident in order to succeed. If the feelings control the trader and feel fear, he will sell his currencies in order to stop the loss. 

[gigabyteRTX 1583]

It depends on the situation, if for example, you have a stable job then trading should be treat as a part time why? Well because as we all know there are instances of time that you can't trade or not a right time and right moment to trade, maybe because of the price of coins you are trading, so for me as I analyze before trading so even I'm a college student I manage to give time in trading because as I said not all the time it is good to engage in trading.