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32 sats \ 6 replies \ @0xbitcoiner 1 Aug \ on: Have you ever considered day-trading bitcoin? bitcoin
Our daily operation at SN involves exchanging value for satoshis. So, this is day trading, right?
Day-trading is more like taking a position against a future price of Bitcoin. If you're correct you make money, if you're wrong well you lose money.
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I understand the trading is not exactly a get-rich-quick scheme.
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certainly not. The data indicates that merely 7% endure for more than 5 years and only 1% can profit net of fees. Day trade is a losing game.
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Losing game to 93% percent of traders, right? The chances of being a profitable trader is not exactly zero, so no one should get into the game expecting to be profitable.
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That's correct. Achieving success as a day trader is extremely challenging. I'm personally acquainted with two people who have pursued this path. One of them suffered a mental breakdown due to the stress involved.
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