Post
Topic
Board Trading Discussion
Re: Can you make money day trading Bitcoin?
by
Hypnosis00
on 26/11/2021, 23:03:08 UTC
Taking into account that most of the traders lose... over 80% of them, I wonder how much money you expect to make.
Trading is not some dream world where you grow money on trees, it's hard work.
Crypto is over-hyped now, so when the s...t hits the fan, there'll be lots of losers.
You are not wrong, but did you actually know that some traders gain? Most like 80% can be losing, I have even read it somewhere before that over 75% or more of traders are losing, but few traders still make profit. The reason for most losses is high leverage which liquidate the money used at very close price range to the price the position is opened. It is better to do spot trading which can be profitable if patient enough. Trading just need tactics, but if using low amount of money and losing, then better to just not trading again, holding will be better.
Most traders or everyone suffers losses in their early days before they learn about trading. It can't be avoided but we can do something to make it minimal by simply making a good decision and correcting mistakes that cause our previous losses. Particularly, day-trading is risky, and have to admit that. We can make losses but we can make some gains as well. If we just change and correct all the mistakes we do before, it is possible to increase the chance of earning side rather than losing.