Day trading BTC

Is it possible?
Is it really possible to predict accurately what will be short term BTC raises and falls?

Keep in mind I’m talking 5-30 minute trades

Using bitmex

 

predict is probably the wrong word, but having a good guess

 

Ah

 

Honestly, i would set aside a small portion ( no more than 20% of your BTc portfolio ) to day trade. There are tons of bots out there and tons of market manipulation. What may look like a good call can actually be a trap. I do not day trade because part of my investment strategy is to lower my risk, which in this case would involve day trading.

I'll tell you this, I know people who have made $10,000+ in a few hours day trading, and I know people who have lost there whole stack day trading.

If I were you, I would take my 20% max advice, or just not day trade at all and hold and even diversify some of that BTC into some safe alts (ETH,LTC,XMR, etc). Do not take this as financial advice as it is my personal opinion after knowing tons of people who actively day trade.


Longsters have been screwing over the market for some time now and IDK when it will end lol

 

@Eazy E @ other thread, got you

 

Don't go 100x leverage on the 1 minute chart on Bitmex. it will get you rekt son.

Cheers!

 

1. Yes, it's completely possible and is done.
2. No one can predict prices.

 

Hi @Cairo
Daytrading is definately a great way to make money but it involves a lot of work before you actually start pressing those Buy/Sell buttons.

You have to use technical analysis to identify the most likely place price would go if it was to go up or down + see if your risk:reward and winrate (likelyhood of winning the trade) actually match up to make the trade worth entering.

If you want to talk more about it feel free to add me on discord to chat, Spicy#1472

 

Jesus. You must’ve really necked it.

 

It was a very excited 90 mins with a quick dead

 

Considering the quote you have buy high sell low. This incident suits u?

 

Buy and hold is by far the best option in my opinion.

Cheers!

 

If it starts going down? Keep holding?

 

Day trading Bitcoin is the stupidest thing you can do. Tell me otherwise?

 

Day-Trading bitcoin with no prior trading knowledge or wealth management is a VERY silly thing to do.
Day-Trading bitcoin or literally anything on any platform which has high volume/liquidity with a strong knowledge and experience of trading would allow you to pull in amazing profits on the side. Institutions/Market Makers wouldn't exist if there massive potential for profit?

 

why

 

Because you will be missing out on more opportunities to make cash.

Hey, if you can predict the price of bitcoin - which is nearly impossible - be mt guest.

 

Lol what kind of logic are you using?

 

What logic am I using? I'm using the fact that these investments can indefinitely go up and at any moment can decline. What logic are you using that you are trading one of the most volatile investments on 2017/2018 instead of the stock market?

 

traders only make money if the market is volitile. Could trade both, doesn't matter.