Is Day Trading Crypto Actually Viable?
Steemians,
For the past 2 weeks, I've been trading imaginary money in the Crypto markets just to see if day trading Crypto is actually a thing. I know a few people that do it, but I'd never tried it myself.
I'm not talking about just buying and HODLing, I'm talking about entering a position and exiting at a profit within the same day! The idea is to find a dip, and buy into it, and sell when that dip recovers (hopefully) intraday.
Some folks exit the position, even if it's at a loss. I've seen some "professional" day traders do this, and it's fascinating to me. They cut their losses and buy into something else with the hope of making back the loss.
No wonder the crypto market is so volatile with all these crazy people buying and selling all over the place
I have to say, for the past 2 weeks, I've had a net win. I didn't do anything crazy, but I just placed my imaginary trades when I saw what I thought were dips and sold straight away when the position was in profit.
Obviously the amount of profit, depends on the capital invested. The larger the capital, the larger the potential wins, but also the danger of losing everything you've ever worked for in your life :)
Crypto is not a joke, that's why I'm trading with imaginary money :)
This is not financial advice
Peace and Love ✌🏿
Adé
All copy and photos are original content by me.
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I do a little bit of day trading in the mainstream stock market, especially biotechs, & it is quite a rush. I have a Coinbase account but haven't actively traded it. I think I am more of an investor with crypto. As you said, HODL lol. I am nowhere near expert level, but the market as a whole can be quite amazing. No matter what is going on in the world, the market does what it wants!
It will be interesting to see what results you have after a while. You are smart in starting out with paper trading (quite literally). A lot of us (in my trading community) started out with sim trading before venturing into actual stocks. The ones who didn't wished they had, because they blew out their accounts before realizing they had to follow a plan that worked for them.
Best of luck to you, my friend! :)
You're probably doing the right thing in the HODL department haha. The markets are currently rising nicely. Very healthy.
I used to work with Equities and FX traders in the city. Very high octane stuff. :)
Honestly, with your possibilities, I see you making millions in trading... Its not gambling bro, pure skill - one of the hardest to master, but its skill. All the markets move in patterns, its mindblowing when you start connecting the dots... And with the tools we have available today, you can understand with 100% precision when to enter the market, when to not... When to sell or when to ride, and pls ooo pls don't buy shitcoins brother. The coins that are trending right now: Eth Btc Xtz Bnb
I spotted a 14 million increase in Ltc volume in the morning... Realized its about to break out, Took 17% on my whole portfolio in 10 hours
Obviously, you don't want to invest your whole portfolio... Especially if you are New, but you get the point 😂
when you have a Team with mastermind mentors its way fucking easier... I'd like to get you on my team , if you interested you can hit me up, I'll set you up a meeting
My mentor has 20+ years of trading experience, transitioned to crypto soon as it came... And he an ex marine, trust me the guy is multi task geniis lol Id love you to meet him
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I never liked authority in my life but when this guy is saying anything to me, like literally anything. I'm quiet and all ears... if you join us bro honestly, I know you ... I know you are intelligent, you'll get the grip to this in few months
Gotta love marines, they’re disciplined and know their stuff.
Thanks for reaching out bro. I’m still sniffing around myself for a couple of months. If it’s something I decide to get into then I’ll give you a shout. 🙏🏾⭐️
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Nice @tipu curate
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Upvoted 👌 (Mana: 5/10 - need recharge?)
Looking forward to hearing your results and opinions down the road.
Me myself? I'm an idiot....I just dollar coast average cause I'm a simple mind lol
LOL!
Well, the way you do it, when the coin moons you're going to be a millionaire. From what I see so far, they day traders have a job that hopefully pays a salary. You're an investor.
So maybe you're not as simple as you thing :D
lol Thanks for the vote of confidence man lol appreciated!
It is really crazy. I have to educate myself some more on the crypto market. I know there is potential there, but judging by the seemingly eternal bear market here in Steemit and the great amount of tokens that come out evry day, it is hard to catch up on so many things.
It would be great if we new for certain what is it that determines the price of cyptos and how we can contribute to help Steem go up.
Yeah the opportunity is insane. It's almost too good to be true sometimes. Some of the really rubbish coins have shown 100% growth in one day, and then dumped back to almost zero. That's manipulation mostly, but you can still make money on them. I don't deal with those ones, just the well known ones, and I'm not using real money :)
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