It seems to me like crypto is the go to thing for day trading. You have constant volatility, any amount you want (no need for fractional shares), and what appears to be an upward trend in pricing. And, with GDAX, I can make gains off of any increase in value.
What am I missing here? If you can make 1% gains per trade, and make multiple 1% trades per day with some certainty... why not just do that?
>if I can win every gamble... why not just do that?
this has got to be copypasta at this point
this many people arent this stupid.
It seems to me that you have zero trading experience. Try it and then come back.
There are thousands of bots on each exchange written by people that know a lot more than you doing what you think you can do and making decisions within 50 milliseconds with much more capital than you have right now
I'm relatively new to crypto. Its definitely possible but it will be extremely difficult. If you want to make huge gains on a crypto youre better off buying an alt and HODLing
It isn't about winning every gamble. You don't hold on to it like a retard and you don't try to min/max. I'm unsure what the issue is.
I'm new, dunno.
No, I've done day trading before, just not with crypto. Mainly because I knew jack shit about it. Am I wrong in it being highly volatile?
yeah i tried day trading
>enter crypto in march 2017 with 1000 bux
>buy 50% eth 50% btc
>eth rockets - double up and move all to btc
>day trade with btc for 1 month
>make around 2k profit
>get too stressed and cash out and dont look back
>be me with noob gains and no crypto atm
>tfw could have had 15-20k if i had just held
>the actual state of Veeky Forums
to continue.. i held coins like xrp and xem when they were 0.01usd
afte seeing the boom of cryptos i just wanna kms
This isn't forex, and you don't have to trade exclusively on 1 min candles.
So yes, essentially you are referring to scalping.
Crypto is volatile, if you compare it for example to stocks. Still, it's very possible that the coin goes against you. In day trading you should close the position by the end of the day, so if you're losing what do you do? Do you accept the loss or do you keep your position open during the night? Then you're in swing trading territory...
Also, liquidity is a factor if you deviate from the most traded pairs. There are huge differences between exchanges. For example XMRUSD on Bitfinex has 20x more volume than XMRUSD on Kraken.
12pkmD3pwTC4AR7ujDFm7oLFVXdTe3R65K
New to bitcoin if anyone is feeling generous.
>I don't know anything but I'll make infinite money, can't be that hard ???
You're right, it isn't forex. You can win some scalping trades by hand and do okay. It's simply not worth the time to do it. If someone really wants to do it because they find it enjoyable, then feel free to.
you're not new you never had any, you're not new to baseball if you never held a bat or a ball
The goal isn't to "beat" the bots. You can co-exist.
Yeah, that's a tough call. I like swing trading more, but if you're in a rough alt market (like now) you can get slaughtered. My most successful strategy was literally minute-trading
>see a coin mooning
>watch the price fluctuate like a hawk
>look for a small dip
>buy
>sell when it increases by 5%, usually close to the ATH
it's a risky strategy, but I was making fairly steady gains with PIVX, GNT, and some other shitcoins I don't remember. Haven't done it in months though
Serious suggestion to people that think they can do this.
Deposit $100 or $1000 on GDAX and pretend it's $100,000. Mark the day and time of your first trade and do whatever it is you think will make you money. Compare whatever it is you did to what you could have made if you just held the currency from your first trade(s). Do this over the course of at least 30 days. One day or week of net positive means nothing, it's luck. The vast majority of people will find they didn't accomplish anything in the long run.
currently doing this its fun
I'm also going to do this (just with 100 euromonies for a start) once I've learned some more. It does sound like a fun hobby, if you ask me.
>he doesn't know about shmita
the jews win
You can make 5% just as easily. This is an unregulated dot.com boom.
Also realise doing this without tools (basically bots) means you're sitting in front of the goddamn computer all fucking day doing jack all but scalping.
I mean, if you already had nothing better to do, go ahead.
>sitting in front of the goddamn computer all fucking day doing jack all but scalping.
comfy. Just like back in the good old days, playing Bundesliga Manager as a kid.
Looks like the 7.5 hour cycle in crypto.
>Also, liquidity is a factor if you deviate from the most traded pairs. There are huge differences between exchanges. For example XMRUSD on Bitfinex has 20x more volume than XMRUSD on Kraken
qash is working towards fixing the liquidity issue.
what bots should i trade with
Are you new?
EVERY trader gets that thought at some point. So why isn't every trader rich?
Because making 1% daily every day doesn't happen.
I implore you to try and hope you're successful. You'd be the first one ever and the best trader on earth.
Literally my wet dream and maybe my end game
Daily reminder, the Mark-1 Eyeball is still the best statistical analysis.