Bitcoin day trading is a most common kind of trading strategy, which is also known as intraday trading. It involves traders entering and exiting positions within the same day. So, here the trader does not have any Bitcoin market exposure overnight. Thus, there is no avoiding overnight funding charges on the position.
This strategy is ideal for the ones who are looking to make profit from Bitcoin’s short-term market movements which helps you to make the most of daily volatility in Bitcoin’s price.
Pros:
- Quick profits.
- Better risk management.
- Not influenced by overnight market changes.
Cons:
- Very short-term outlook.
- Might lose money faster.
- Closing a deal within a day is difficult.
- Too fast-paced way of understanding the market.