What Is Day Trading?

Day trading is buying and selling cryptocurrency within the same trading day, such that all positions are closed before the market closes for the trading day. The time that traders following this strategy typically own a cryptocurrency ranges from several minutes to several hours. Traders conducting intraday transactions rely more on technical rather than fundamental analysis and analyze the news.

It is worth noting that with the advances in algorithmic trading when orders are filled in a matter of milliseconds, the speculative day trading strategy without the use of algorithms ceases to be profitable.