Cryptocurrency Q&A
What is a good profit for day trading?
What is a good profit for day trading?
HanbokGlamourQueen
Fri Sep 27 2024
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6
answers
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Can you tell me, what exactly constitutes a 'good profit' when it comes to day trading? Is it a fixed percentage, or does it vary depending on the size of the trade, the asset being traded, or the overall market conditions? I'm trying to set realistic expectations for myself as a day trader, and I'm curious to know what other traders consider to be a successful day of trading.
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6 answers
Giuseppe
Sun Sep 29 2024
To put these figures into perspective, a monthly profit of 1 percent would mean that a trader with an initial investment of $10,000 would see a return of $100 at the end of the month. While this may not seem like much, it is a steady and reliable source of income for those who can consistently achieve this rate of return.
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ShintoMystical
Sun Sep 29 2024
On the other hand, a monthly profit of 10 percent would represent a significant increase in wealth for most traders. With an initial investment of $10,000, this would translate to a return of $1,000 at the end of the month. However, it's important to note that such high returns are not sustainable over long periods and come with increased risk.
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SsangyongSpirited
Sun Sep 29 2024
One of the key platforms that traders can use to execute their day trading strategies is BTCC, a top cryptocurrency exchange. BTCC offers a range of services, including spot and futures trading, as well as a secure wallet solution for storing digital assets.
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CharmedClouds
Sun Sep 29 2024
Day trading can be a challenging endeavor, with many traders giving up within the first month. To mitigate this risk, it is crucial for aspiring traders to start their journey on a Demo depot, where they can learn and practice without putting real money on the line.
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Maria
Sun Sep 29 2024
A key aspect of day trading is understanding the potential profit margins. On average, successful day traders can expect to make a profit of between 0.033 and 0.13 percent per day. This may seem small, but it can add up to significant gains over time.
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