5% per day trading crypto

Is it possible? Why or why not?
We all know it's a virtually impossible goal for stocks, but crypto is more volatile and also has the perk of being open 24/7, I think it's worth pondering about in this case.

Just started on bittrex last week infact with .0036BTC and got up to 0.0145BTC few hours ago.
300% a week or bust mah nigga

yeah its possible

literally, just buy low and sell high on a 5 min interval with one coin

Only problem is you can catch a falling knife.

5% per day is a bit low nowadays honestly. Might be a different case when the market slows down though.

I'm talking 5% CONSISTENTLY by the way.
As an example of perspective, doing it with $100 will net you over 5 Million after a year.
After half a year $718,542.

This, i pretty much looked at whatever had volume and flipped low to high within minutes.
I imagine this will be harder to do with larger amounts of BTC ...

In that case, not really. Once you get enough crypto it starts becoming pretty difficult to make gains as consistently, unless you can predict the future that is.

Yeah, you use 40 - 200+ leverage, on websites like whale club or 1broker

>Buy digicoin
>Hodl
>6 months 7500% when it hits athletic at 15 cents
>Hodl
>12 months another 600% compounded on the initial 7500%
See you on the moon faggots, 10k all in on digicoin

Build an arbitrage bot, easy.

In the short term? Perhaps

In the long term? Definitely not.

Also keep in mind that the 5% is likely not scalable - once you get too big to make money on no-name shitcoins, you need to move to more liquid markets in which making 5% in even a week is likely far harder.

For reference, I've been trading 10x futures on OKC since December, and have been able to generate a reliable run-rate of 2.5-7.5% per week. Problem is, I don't trust the chinks with too much of my money so I periodically withdraw excess P/L, leading to an inability to scale. It's also difficult mentally/emotionally to trade larger position sizes unless you're autistic or have worked your way up slowly to those numbers.

You're basically one giant market-crash away from having your returns risk-adjusted and walking away with nothing. I've moved away from setting meaningless targets for myself like "5% per day" because you're at the mercy of the market and only able to take what it gives to you.

>5%
Maybe at tiny volumes on no-name coins
>1-2%
More realistic on ETH, LTC, XRP etc. and still profitable. Especially since they can be margin traded they're constantly being shorted/longed and bot traded increasing the frequency of movement.

I personally prefer leverage and hold

>Trading futures
>Futures = crypto market
>Lol XD nice larping too

you mean digibyte my fellow Veeky Forums

Yes I do. To anyone who has yet to purchase a seat on this rocket you better do so quickly, we are set to blast off later this month.

Using voice to text right now so it will look really stupid. I ain't considered this idea about 1 year ago and I've come to the conclusion that it's not really possible you will eventually lose a significant amount of money and render any of the earning that you made for sale week totally mootperiod I don't recommend it the only thing I recommend with cryptocurrencies is buying very early and holding for a long time. I considered this idea because I wanted to see if I could make enough to live in a studio apartment or something and pay all my bills through some easy cryptocurrency Trading getting like $30 per day on something say $1,000 in capital. It sounds like a totally foolproof the hell can't make $30 and 24 hours on a thousand right? Eventually you'll catch a falling knife like the guy above me said and you'll lose much more then you learned in the past several days or something like that and you'll feel like a fucking moron period just by early and hold trust me it is the only thing that works patience is the only thing that works. Trust me.

Yes like this guy said buy digibyte, coin of the future.

>not utilizing the power of leverage to earn profits denominated in bitcoin to give you additional upside on btc/usd appreciation

I could post my OKC trade data but you'd just accuse me of photoshop or editing the source data. Stay poor, pleb.

wow thanks for the long read. DGB huh? going all in.

possible sure, i've beaten that over the past month by doing nothing except spreading a little into a new shitcoin every now and again. granted it's been a huge month for crypto and especially alts, possible though yes.

Of course it's not fucking possible. How naive can you be? That equates to doubling your money every two weeks, which is absurd.

do you use fundamentals/research or TA only?
please elaborate your method (don't need to get in every single detail but cornerstones would be interesting)
thx

how much is enough crypto? $10,000 until this starts to become a problem? 100k? 500k?

It's very easy.

Its not possible.

It is if you don't have a lot of money in it. Yea, $100 and you can make 5% a day. But after 90 days, you'll have almost $9000. Watch the order book on the highly fluctuating coins. Lets say one spikes 10%, You will litterally drive it back to even with your sell orders.

Eventually there comes a point where money is no longer exponential. You'd be better off setting a realistic goal like "Once I have enough to trade, can I earn $2,000 a week"

I mean, it is technically posible, but it is a stupid strategy.

You would have to make one all-in play every day AND get it right. There is no room for diversification as fees would cut into the gains and your chances of getting multiple plays right would be even smaller.

One bad move will set you back too much for this to be viable.

But if you really believe in it, please go ahead and try it, document it extensively and come back with the results. It might be an interesting read.

Pretty much this, holding makes far more sense than trading currently.

anyone willing to step up the crypto game, add me on skype: CryptoAnna

You'll have to diversify more and more as your holdings get larger, but certainly possible to a level where you are living comfortably