Quote from: milewilda on April 29, 2020, 09:25:18 AM

Quote from: Bitlover10 on April 29, 2020, 07:05:50 AM

What you guys think about day trading in crypto. Is it profitable? if yes give me reason.
If you doing day trading by yourself it's 99 percent of chance that you loose your capital. I was reading many comments on other threads that they talking about day trading is profitable. I don't think so. Only whales have profit and normal person loose their money.
What your thoughts about it....

Profitable? It would be both because each day trader would really be different in terms of their trading style.Not all do have the same capability and capacity in facing up this volatile market.
99% is a bit exaggerated yet there are day traders which are really making out profits and this isnt only limiting to whales itself but also into other small traders as well.
Its a matter of choice though on what type of trader you would want to be,some do like to day trade but they do fail out but it doesnt mean that you would just simply quit because we know
that mistakes are stepping stones to improve ones self.

Sometimes, day trading is not the answer because it increases the risk and stays with that state. You should perform first proper technical analysis and speculations so that you know how to deal with the market and apply some strategies. It is not worthy to perform day trading most especially that we are in this pandemic and it really affects the market.

No matter what trading strategy you perform, it will still give you risk in a different intensity. I don't think that this is profitable most especially to those normal traders, if you're really good at trading it might be effective and profitable but not anyone can do that. We have different experiences and courage in trading that's why it is not always effective to do that.

Big or small traders are vulnerable to losses, but these losses will help you improve and learn more in trading but the reality of losing money is not that quite good in a feeling. That's why you should accept the reality of trading and perform effective strategies like stop loss, not only day trading.