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24703889 No.24703889 [Reply] [Original]

Is day trading a viable strategy? The thing is it seems too good to be true.
As a student I've had no actual income so I haven't been investing seriously. But I did do some trading with a small amount of money for fun and making profit seems trivial so long as you're not a total retard. Something like swinging a crypto. How do you screw that up? At worst you'll lose a little bit of money, most likely over time you make a lot of profit.
Should I start day trading when I get a job soon and start having actual money? Sam Hyde said I shouldn't. Any of you lost your mind and almost killed yourself while not doing anything colossally retarded but just got screwed? Also any downsides to using a trading bot?

>> No.24703917

Keep doing it for a few weeks and report on your progress.

>> No.24703929

day trading is gambling. you may have won a couple times at roulette but it was just luck. The longer you play the more likely you will lose everything.

>> No.24703941

Anon, what do you think? Ask yourself seriously, if day trading is really so easy, if it's 'trival', why isn't everyone doing it? They're all just retards, right? Unlike you.
Please, try it, see how long you last before getting fucked, and post results here.

>> No.24703943

>>24703917
I made my 20 bucks into 30 bucks when I tried it for a couple weeks :D
I guess it's more stressful when you put actual money into it, but you can just have a bot do it for you right

>> No.24703950

Even the best statistically lose money, do not do this all is not as it seems. The opposite is more effective, making as little weighted moves in your favor possible.

>> No.24703974

>>24703950
this, just make some well-researched swings
there's "day" trading and then there's the real money, quarterly-trading

>> No.24703989

>>24703889
>Is day trading a viable strategy?
No. Investing is great, learning is great, but day trading is extremely risky and usually a disaster in the long run.

>> No.24704023

Day trading is a meme that works for maybe 10-15% of those that try it. If you're a good trader and know how to spot a trend than sure, it will work alright. But if you're struggling with TA or don't have the mental discipline that's required to make it then I suggest you get a part-time job and look for longer timeframes instead.

>> No.24704025

Its awesome until you catch a falling knife and get fucked or sell too early and miss a moon.
>inb4 just dca bro
If youre averaging into a position over days or weeks you're not day trading anymore
Tl;dr you're gonna get cleaned if you're a noob, which you are. Play the high time frame for 3-5 well thought out trades a year if you value peace of mind

>> No.24704052

not only will you lose all your money but you'll lose sleep, be constantly stressed out, destroy your health, destroy your relationships, and possibly destroy your life.

honestly you'd be better off going to a casino and playing blackjack. you're more likely to win, it's more fun, and they bring you free drinks as long as you're at the table.

>> No.24704263
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24704263

>>24703941
Buy when it's rising, sell when it starts dropping?
If it drops below a threshold, take your losses.
I'm not saying I'm smart, I'm saying I know that going up is good and going down is bad. I'm sure there's more nuance to these patterns and I might not be able to pick up on them, but if you use a machine learning AI to do this for you and you spread it out over dozens of different stocks/coins, not making profit should be pretty impossible.
>>24704025
this is a good answer, so there's a high chance of getting royally fucked by the odd anomaly/chink scheme

>> No.24705386

you need to have a high iq and have great emotional control
5-10% of retail traders make money consistently (we don't know the exact number)
most people don't have the psychological makeup for it

>> No.24705640

>>24705386
It's not about psychology or emotions. That is what scammers say to bait retards into paying for their worthless courses.
Intraday action is ruled by insiders and whales trading on insider info and hunting retail trader's positions from level 2 and level 3 data. Not to mention bots reacting to news in milliseconds.
The only way to win for retail traders is swing trading, because then the odds aren't as stacked up against you.

>> No.24705694

>>24703889
I tried it this month, made like 10%but I would have made more just holding t bh

>> No.24705817

>>24704263
The point is not whether the market moves in your favour. It's whether it moves far enough to cover your entry point and close in the black. If you have enough margin to commit to "dozens" of assets you'll get raped by crabs.

>> No.24706002

U can trade with 100x on bybit, meaning if u have $100 u can trade with $10000. if ur good enough u can make it

>> No.24706072

>>24704263
if you're so sure then why are you asking? Have you ever traded before? Are you sure you know what you're talking about? Look up success numbers regarding day trading and you tell me.

>> No.24706134

>>24703889
>most likely over time you make a lot of profit.
Well, that's where you're wrong kiddo.