Cryptocurrency Q&A
Why is everything I read about day trading crypto so negative?
Why is everything I read about day trading crypto so negative?
Carolina
Thu Jul 11 2024
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6 answers
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I've been doing some research on day trading cryptocurrencies, but it seems like every article or forum post I come across is filled with warnings and negativity. It's almost as if no one recommends this practice at all. I'm genuinely curious - why is there such a strong aversion towards day trading crypto? Is it inherently risky? Are the chances of success slim? Or is it simply a matter of misinformation and lack of education surrounding this particular trading method? I'd appreciate any insight you could provide to help me understand this seemingly divisive topic.
6 answers
henry_taylor_architect
Sat Jul 13 2024
Bitcoin, a volatile cryptocurrency, experiences fluctuations of 1-2% every few hours.
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Riccardo
Fri Jul 12 2024
To capitalize on these fluctuations while minimizing costs, traders often utilize Coinbase Pro, a platform that does not charge fees for limit orders placed by market makers.
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Lorenzo
Fri Jul 12 2024
By limiting the risk to 1% per trade, traders can maintain a consistent and sustainable income without the fear of catastrophic losses.
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Lucia
Fri Jul 12 2024
The strategy of holding Canadian dollars (CAN) for potential higher profits is enticing, but it is fraught with risks.
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Margherita
Fri Jul 12 2024
Cryptocurrency markets are highly unpredictable, and a sudden crash can erase all accumulated profits in an instant.
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