Quote from: ebay007 on September 02, 2013, 04:13:49 PM

how did you loose that much and earned that much?

the most possible way to loose is if i sell them for lower then what i bought them right? like if i think the value will not increase or if i need the money now and i have to sell. it doesn't sound to risky... am i missing somthing?

Three things: FUD, News and liquidity.

My worst day and best day have been because of FUD/News. I make a position I find comfortable that I have made before and then paranoia starts spreading and a exit had to be made, yes I have failed and moved out of a position that If I had left myself in for a long period of time would have gained. But thats emotion for you. Its hard to see lots of hard earned money disappear. Even when things seem predictable shit happens.

Liquidity, if the market has no depth near a position you want and you need out then this really screws you over. You might see a price but that does not mean you can sell hundreds of Bitcoin at that price. Market depth is so important I really wish I had researched this more before I started trading.

I have made mistakes and gains, overall the gains have been worthwhile but to be honest I feel like day trading is a gamble and I have been lucky. Some people have skill but I am not I am one of those people.

The issue is when the value starts to erode away, do you have the guts to hold a losing position for months of lower and lower prices before it rebounds? I got out sometimes early to save even greater loses. Holding is actually the most important thing in trading. Learning patience.