Post
Topic
Board Trading Discussion
Re: Is the day trading profitable ?
by
novaprime
on 06/11/2019, 02:39:45 UTC
Yes it is, if done correctly of course. Daytrading is a way of life and it's not the easiest job you know.
Did it for 2 months but didn't turned out as planned. I was using tools on sites like Blackfolio/newscrypto etc. Will probably get back to day trading when i stop working.
I also tried to be a day trader for a short time but I think it was not the best strategy for me as it gave me stress and headaches if I missed the timing to buy or sell. You have to spend lots of time monitoring the market, but if you have other job it might not work. Well it still depends on your time management and strategy, day trading is profitable but not as easy as it seems.
One way or another, day trading is only suitable for the trader who leads a less active lifestyle.  Day trading requires a lot of time to monitor the cryptocurrency market and control all of its rates in order not only to take advantage of the opportunity, but also to respond in time to unexpected situations.  Nevertheless, according to all my friends, daily trading is the most profitable.
You need to be in control of your emotions when day trading because this is a problem not everyone can do in day trading. I have met a lot of people who failed day trading because they could not bear the pressure that the market caused and suffered huge losses when investing. If you are good at trading then this is not a problem to worry about but most people here are very panicked when the market collapses. I think it is best to choose long-term investment and should not be greedy when investing.