Does anyone actually know anyone day trading Crypto who makes more than they lose? I have a friend who is up 40,000 and I worry for her because I think she probably has gotten lucky. What possible edge could mom and pop have, especially after algos, a speed and info disadvantage, and slippage?
I think your worry, (and your ego) should turn to your friend and ask for help. No idea how you could possibly allow her continued profit to escape your potential education.
Nice replies, and of course my friend and I have discussions, so let me rephrase: Does anyone actually know anyone day trading Crypto who makes more than they lose? What possible edge can retail trades have, especially after algos, a speed and info disadvantage, and slippage?
You are asking this question for what reason? As motivation to convince yourself that it is possible so you will try? Or hoping for answers claiming "day trading crypto will bury your ass 100% of the time"..."no one can make consistent gains doing that" etc...
A serious question with so far no posters answering yes (?). I am open to whatever the truth turns out to be. What edges are there that a retail trader might exploit? Asking the right questions and listening for the ring of truth has served me well in life.
What info disadvantage? What speed disadvantage? No slippage. Crypto is a more level playing field than traditional markets.
Thank you for your reply. Do you know anyone successfully day trading or swing trading Crypto? What edges might a retail trader exploit?
As far as I can see there are no more 'low hanging fruit' type edges or predictable patterns in Bitcoin in an intraday timeframe, any more so than equities. So I would say there's a high probability that she has been on a lucky streak. Unless she trades something other than Bitcoin such as Elephant Money or any of the multitude of exotic cryptos out there. Then anything is possible is suppose.