Explain to me what is wrong with bitcoin day trading?
What could go wrong when I just buy low and then sell high again? The bitcoin price fluctuates by the thousands per day, so what’s stopping me from buying at 12k and then selling at 15k again and doing the same the next day? I mean, you can see the price changing in real time and selling/buying is literally done in a few mouse clicks.
I’m sure I’m missing something since so many people advice against it, but I don’t see it. Someone fill me in.
John Sullivan
Nothing dude, go for it. It's super easy and it's basically free money.
Ethan Phillips
it's easy to see how it fluctuates when you can see the whole chart
Jayden Perry
What do you mean?
Angel Campbell
lol wow
Ayden Stewart
No one trades bubbles, you either go with the stampede and fall off the inevitable cliff or get trampled in it its lose-lose
Jason Moore
Because youll get owned easily and you are basically gambling
Carter Garcia
I still haven’t gotten a proper explanation yet, only parroting. Come on guys.
Angel Murphy
because of the fees, if you sell you need it to go down like 100$ to start taking (minimal) profit
high risk low reward (unless you're a genius/lucky trader)
Bentley Powell
> What could go wrong when I just buy low and then sell high again? you will buy high and sell low
Nathan Barnes
But the fees are always just like 1-3% or something?
How would that even be possible when I simply sell at a price that is higher than the one that I bought for last time?
Nolan Young
That image screams boomer
Gabriel Cruz
actually you're gaining even on $30 swings if you trade at binance even at gdax you're gaining with $60 swings
Julian Carter
imagine being this stupid
James Garcia
imagine being this stupid
Josiah Butler
If you're not outperforming btc growth you're losing in sats just by paying fees, its that easy.
Jayden James
Try it and see with a small amount like $100. It isn't as easy as you think to predict the future. The times you sell and btc blasts up above where you sold, never to return will destroy all your gains and it would have been better to just hold. Hedge fund traders can't beat stock index funds and they do it for a living. Nevermind the time spent watching charts. It will consume your life trust me. You'd be further ahead getting a minimum wage job for that same amount of time and just buying Bitcoin with the proceeds.
Luke Gomez
hey op. The problem is that if you continually do this, at one point you will have, let's say for example, your wealth in usd, waiting for btc to drop, but then btc never drops and just sky rockets. at this point you would have made more money just leaving it in btc. Of course with your method the opposite is true as well. you will be left holding btc when it drops in $ value.
What is low/high? how do you know it's at its low/high?
Jackson Johnson
>shorting bitcoin user, that's not easy, just when you think btc is down and out it goes on a crazy bullrun
Ethan Garcia
But what if USD skyrockets
Luis Martinez
Everyday? Lmao good luck. Selling at an obvious pump highpoint/bubble/whatever with intent to rebuy is fine. I sold at 18.6, bought back at 15.3. Sold at 16.2. Bought back at yesterday at 14.4 and holding unless it miraculously goes to 17 tonight. I've made a little extra money, but I wouldn't dare dream to make a living on it.
Benjamin White
Oh meant to add, I've lost 3-4 times doing this a few weeks ago.
Parker Lopez
even if that happened, with op's method, you will be left holding btc.