~snip~
I usually trade using the poloniex.Poloniex js an online money tradinv website that can help your make your bitcoin bigger in a ahort period of time.With poloniex you can ensire that your investment is safe because it was already teated as a legit website.
But something bad happened lately in there,
many people complained about withdrawal issue,frozen account and shady margin.
6 months ago it was the best exchanger but everything has changed since they're closing trollboxes for nothing.
so i prefer to not do any trade in there for now
As you can see, the fees are strictly high and most of the time people just ignore it and secondly, investing more into Bitcoin you will gain more profit, but the risk also increases.
So here are my questions towards to you:
1. How do you day trade?
2. How much money do you invest?
3. Do you have a stop-loss? Do you have targets?
4. Are you using some helper tools like tradingview?
5. By day trading it means that you continuously need to follow the market and get in/out. (You need to stay in the front of your computer which is time consuming).
6. Do you make multiple sells/buys in a day? How do you get a valuable profit after applying the fees in a given time-interval if the price difference is pretty low.
7. Day trading or just buying and keeping?
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For those question :
1.Honestly speaking i am not good at day trade,especially Bitcoin because it's price ridiculously volatile and if you use margin then mass sell or buy happen you will panic.so i am not doing day trade for Bitcoin instead i am doing day trade for altcoin.The reason is very simple,because i can split apart 1
BTC into 10 parts and even one of them underwater i still can hold it and you may be lucky enough if another parts get profit and you can do it another day again.
2.Privacy absolutely,just invest that you can afford to lose.
3.Of course if you're trading you should have a targets because if you don't more likely you will always get greedy and in the end only losing your money.
4.Sometimes i used that tools,but don't get fooled by their chart just draw your chart alone and make your own strategy
5.Of course,you're asking an obvious answer.
6.That's why what i mentioned above in the point 1.If you separate it you can reduce your loses
7.I prefer to do Both of that