50 sats \ 4 replies \ @0xbitcoiner 1 Aug \ parent \ on: Have you ever considered day-trading bitcoin? bitcoin
https://m.stacker.news/42924
https://tradeciety.com/24-statistics-why-most-traders-lose-money
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0 sats \ 3 replies \ @asterisk32 OP 1 Aug
I understand the trading is not exactly a get-rich-quick scheme.
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0 sats \ 2 replies \ @0xbitcoiner 1 Aug
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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21 sats \ 1 reply \ @asterisk32 OP 1 Aug
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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0 sats \ 0 replies \ @0xbitcoiner 1 Aug
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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