Quote from: tailwate07 on October 17, 2018, 09:18:03 AM

Quote from: suzanne5223 on October 09, 2018, 05:11:56 PM

Quote from: nydiacaskey01 on October 09, 2018, 09:12:09 AM

Quote from: deppil on October 09, 2018, 02:58:12 AM

Yeah I think the advantage is that you can get profits quickly and maybe you can get it every day, even though the benefits you get are small, because you have to make the best use from the margin price, but the risk will be far greater than holding it right?

Depends on the current market situation. if its a bull market yes you can earn profits quickly but in bear markets like what we are experiencing now, its hard to be a day trader. You have to chose carefully or else you will end up shifting from day trading to long term hodling. for day traders, setting an achievable goal is important. Setting a 10% profit in a day might not be a good idea.

You're cause setting an achievable goal is also among the rules and regulations of cryptocurrency day trader but with the current marjet status I think 10% profit you mentioned is more than enough. However, the only benefit I see in day trader is that they are always the first to make profit from the market each time the bullish market start.

The big advantage of day trading is that you can get money on daily basis. You can do day trading gas full time job because you will earn enough profit that you will overcome your daily financial needs. No need to go outside for job and get a fixed salary after a month. I know that salary is confirmed but you cannot earn more than that, but in day trading you may earn more than a fixed salary in one day.

Sure, it can be a full time job if you know what you are doing and you can be making some consistent profit at least somehow daily or weekly as the condition of the market gives.

Day trading can be very rewarding if you are good, but if you are not, it can be very devastating as I have seen a lot of people who usually end up getting totally screwed from their trade and losing all their funds, because they just assumed they can get into the market, start picking the bottom and selling the peak without even having a single idea what they are doing and all they keep doing is gambling the market. That is always a wrong move and it would always not lead to a good outcome.